How to Open Your Own Business As a Toolmaker

Tool design requires extreme accuracy for various fits.

Technology isn't just about electronics. The first manner of technology man ever developed was tools for cutting and building. Since then, the tools man uses have advanced from sharp rocks and stones to electric saws and drills. Improvements are made to basic tools every day. As a toolmaker, your business will be focused on making man's work faster, quicker and less strenuous.

Difficulty:

Challenging

Instructions

Things You'll Need

• Lathes and drills
• Milling machines
• Grinding machines
• Precision cutting machines
• Electronic blueprints
• Metals
• Alloys
• Plastic
• ceramic

1. Learn the craft of tool making. According to the Jobs4U Career database, "The usual way to become a toolmaker is by completing an Advanced Apprenticeship in engineering, either as an apprentice machinist or multi-skilled apprentice."

2. Develop a strategic plan. In your plan, write about what your toolmaker business is, how you will market the tools you make and how the business will operate financially.

3. Acquire a reseller's license and business license. A reseller's license will allow you to buy the materials to produce your tools without paying tax, as long as you pass on the tax burden to your customers.

4. Calculate the money you will need to buy materials, advertise your tool business, and possibly hire other toolmakers to help you produce more tools more quickly. Submit your business plan to your bank and request a business loan.

5. Instead of jumping directly into a large scale retail store, test the waters with a mall kiosks or an equivalent small retail location. Contact the management departments for the malls in your area.

6. Buy the materials you will need to create your tools. Tools include lathes and drills, milling machines, grinding machines, precision cutting machines, metals, alloys and plastics. Purchase engineering software welding and metalwork machines and CAD/CAM (computer-aided design/computer-aided manufacturing) software. According to the Bureau of Labor Statistics "tool and die makers employ many types of machine tools and precision measuring instruments. They also must be familiar with the machining properties, such as hardness and heat tolerance of a wide variety of common metals, alloys, plastics, ceramics, and other composite materials."

7. Contact a manufacturer who has the resources to produce your tools in larger quantities. The AliBaba search engine is most often used to connect with manufacturers around the world. Request that the manufacturer produce a small amount of tools or a prototype based on your design to ensure that they provide the quality you expect. Negotiate a production deal.

8. Find a distributor that can help you get into stores like Lowe's and Home Depot. Get referrals from other business colleagues to create a list of distributors to approach.

9. Create buzz for your tools amongst your target audience. Attend conventions and trade shows for toolmakers such as the annual Specialty Tools & Fasteners Distribution Association Trade Show. Prepare a presentation to showcase your tools for potential buyers.

References

• Jobs4u Career Database; Toolmaker
• US Bureau of Labor Statistics; Tool and Die Makers

Resources

• "Press Tool Making - Including Hardening and Tempering - A Practical Manual"; Ernest Perry; 2008