Woodworking is a business that can be extremely rewarding as well as profitable. Yet, some might overlook this business idea because it might seem too costly to start, too technical or too manly. It’s true that you have to have some degree of aptitude for being handy, but like most skills, working with wood can be learnt – even by women.
Woodworking encompasses anything from furniture to doors and decorative carvings. It can be your “regular” pine bookcases or bespoke chairs that seem like they jumped from the pages of a fine living magazine. No matter which category you may fall into, the joy of completing a project and seeing a client smile satisfied at the final result is unequalled.
Breaking Bark in the Workshop
A woodworking business begins a little differently. Instead of picking your name or drawing up your business plan, you must identify a workspace – without it, the rest isn’t possible.
Your workshop can be your garage, an extra room, a roofed veranda or even an awning. You have to have enough space to work and keep your equipment and materials from damage in the sun or rain.
You will also need to acquire some basic tools. According to Wood Craft Blueprint, your basic tools consist of the following:
- Miter saw,
- Cordless drill,
- Orbital sander,
- Brad nailer or crown stapler,
- A table saw, and
- Chisels.
Remember, you don’t need to get everything all at once. Decide what the most important tools are that you will be using the most and purchase those first. Other tools, like band saws or clamps, can be added later.
Take Care of Compliance
Once you have your workshop sorted out, you can turn your attention to the legal matters of business. Start by creating a bankable business plan and registering your business. Indicate if you are a sole proprietor or have a different business structure. If so, then you need to have a good shareholders’ agreement in place too.
During this step, ensure that you get your tax certificate, open a bank account, and investigate the best insurance for your business. This is important to protect your business and your equipment from theft and damage, but working in such a dangerous occupation with power tools can cause injuries.
By ensuring that you are compliant, you will also need to look at any safety regulations pertaining to your business. Ensure you have the right safety equipment for a woodworking business and that all the necessary safety procedures are in place.
Construct your Catalogue
Any business that sells a physical product needs to have a clear understanding of what they are selling and at what price. Look at what you can make: will your speciality be in a specific type of furniture? Perhaps a different type of wooden product? This will depend on the type of product you are able to create. Although you can learn in time how to manufacture and craft more intricate or complicated builds, don’t list any products that you are not confident you are able to make – or better yet, have made in the past.
You need to understand what your competitors are offering. You must understand this to be able to strike a balance between offering unique products as well as competitive prices. For instance, if your competitor is selling tables, chairs and bookshelves, and you also sell tables and chairs, you might consider adding cupboards as well. You may also be able to beat the price of chairs, allowing customers to choose what price is right for them.
Pricing should also not be assigned at random. Use a strong pricing strategy that accommodates a reasonable profit and covers all your expenses.
Logistics, Purchases and Delivery
If you are preparing to sell your products, then you need to plan for the delivery of your products. It would be nice to deliver it for your clients if they don’t have a vehicle at their disposal. But if you don’t have either, you can partner with a delivery service to help you out until you can afford a delivery vehicle and driver.
Naturally, delivery will cost extra, so you need to ensure you communicate this to customers, as well as what the exact cost for delivery is.
Marketing a Woodworking Business
You should now be able to start making your wood products and market them. Based on your business plan, you should know who your ideal customer is and what they are looking for. You can open social media accounts and start marketing your business there, or you can turn to traditional marketing by placing advertisements in newspapers and flyers on community boards.
As you build your products, take pictures that you can share on social media and include the customer in this process.
Based on the above advice, you should start selling your products in no time. Don’t be discouraged if it takes some time to set up your business and see consistent sales roll in.
