If you are passionate about woodworking and good at what you do, then chances are you have considered starting a woodworking business. Getting started is fairly easy, but keeping up with it can be challenging. You might want to start it as a side job, but you might eventually have to move full time. Follow these steps to start a woodworking business and take into consideration these recommendations.
Building your Business
When starting any business it is important to follow all the laws. You will want to withhold income for paying taxes, form a LLC, keep records of all purchases, etc. Definitely purchase business insurance to keep you and your business safe. Personal insurance is also highly suggested in case you get injured on the job. You may want to work with a business consultant to make certain you don’t miss anything important. You will definitely want to consult a lawyer and an accountant to have your legalities in order. Once you have legally set up your business you will begin marketing and advertising. Referrals and social media are great ways to get your name out there.
Workspace
If you already have a wood shop you are headed in the right direction. Whether it’s a shed out back or your garage it will still get the job done. Make certain you have plenty of space to expand if your business becomes successful. There is always the option to rent a space if you live in a city or subdivision. Because this is a legal business now, you will want to make certain your workspace is following safety measures, kept clean, and wiring is done correctly.
Buy Materials
This one seems obvious, but if you try using cheap wood you will have unhappy customers. Quality wood is important for quality woodworking. Find a local lumberyard that offers a variety of high quality wood. Tools are also an important addition to your business. The better the tools, the better outcome you will have. Don’t waste your day trying to fix an old machine. You can always start with the basic tools, then buy expensive power tools as you make more money. Tools are an investment, and will only help your business. Check out our blog on the top ten tools you must have to get started.
Don’t Give Up!
Starting any business is challenging. Don’t go into it blindly. Have a business plan laid out, be financially set, and be resilient. It may take months or even years for your business to take off, so be patient. You don’t just need woodworking talent, but also be business savvy. Not everyone is business oriented. Always continue your learning as well. Once you become proficient in one area, learn a new skill. Hard work, dedication, and smart business skills will turn your hobby into a career!
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