How to Start a Wood Working Business
Many people do woodworking as a hobby but if you have a passion for woodworking and are willing to research, plan and work hard, you can turn woodworking into a viable business. Like any business venture, you will need to assess your skills, the market and the competition, then carefully develop your idea. Focusing on a niche market to serve within the overall woodworking industry will allow you to establish your business sooner than if you provide a broad range of woodworking services.
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Things You'll Need
- Business plan
- Legal/tax documents
- Insurance
- Woodworking skills
- Workshop/gallery space
- Woodworking tools
- Website
- Advertising
Instructions
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Research the woodworking market in your area. Examine existing businesses that would represent your competition. Determine what woodworking needs are not being served by these businesses. Think of ways that you can serve those needs and compete within the market.
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2
Write a detailed business plan based on your research and analysis. Define your business goals through a well-thought mission statement. Describe your business in detail, including the skills and tools you will need and potential workshop locations. You will also need to develop a marketing strategy and financial projections for your first year in business. Attach any documents that you will need to form your business at the end of the plan. After your first year you will want to revise the business plan to reflect the current outlook.
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3
Fill out and file a business and tax registration form as well as any local and state forms necessary to establish your business as a legal entity. As a woodworking shop, you may be subject to local and state regulations that require a permit or a license. Check with local and state officials to determine the requirements for your specific area.
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Meet with a local insurance agent to discuss options for insuring your business. As a woodworking business, you will want property and liability insurance. Considerations will be injury to customers visiting your shop, damage to your products and theft of your products and tools. Describe your business in detail to be sure that all aspects of your business will be covered.
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Acquire the skills that you will need to be an expert in your niche of the woodworking industry. Take classes and attend workshops and trade events to ensure that your woodworking products are of the highest quality.
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Purchase or lease a woodworking studiot. An ideal location would be in an art or shopping district with furniture and art shops. Create a gallery space in the storefront with a workshop or studio in the back of the store.
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Equip your woodworking studio with the tools you will need to produce your woodworking products. A work bench, band saw, table saw, joiner, planer, router table, drill press, hand saws, chisels, mallet, sanders and clamps are basic items you will need. Depending on your niche, you may also need other specialty woodworking tools.
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Work with a web designer to create a website for your business. The site should function as an online gallery. Make sure to include an "about" page, a portfolio of your work and a contact page. Integrate the site with social networking links so viewers can share content on your site with contacts in their social networks. Set up a blog on the site and post regularly to provide insight into your woodworking process or new projects you are working on.
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Advertise your business in local newspapers and other publications. Join your area art guild as well as the local chamber of commerce. Take advantage of the networking and advertising resources that these organizations provide.
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Tips & Warnings
Start off with a small collection of woodworking products and focus on marketing them.
Be sure that you are insured and in compliance with local regulations prior to opening your doors to the public.
References
Resources
- Photo Credit door to workshop image by Wizardgold from Fotolia.com
