You can turn your hobby into a money maker by creating
unique designs and products. The top woodwork items are house decor, furniture,
decorative and functional items.
Others are games, toys, home utensils and storage
cabinets. To create good products that catch the eye you need technical
knowledge.
Your business also involves initial investment, sourcing
your wood, business structure , adequate planning and execution. There are a
few things to consider before starting your business.
Permits
Register your business as a sole proprietorship or one
man business. Find out the permit or licensing you need to run your enterprise.
You need a tax identification number, and workplace
insurance. Home based woodwork businesses require very few permits to operate.
Branding
To differentiate your products from others you need to
brand them. You might need a patent for your unique and original designs.
Carve your brand name and signature including date of
production on your creations. Branding increases the value of your woodwork
products.
Business
model
Your business model is very important because it provides
the template to operate. You can create wood items for individuals or stores.
Another ways is to accept orders from customers and
customize to their taste. To sell your items open a store to showcase your
work.
Other considerations are finding sales channels, type of
items to produce and pricing. Places to sell your wood products are utility
stores, supermarkets, trade shows and furniture stores.
Make sure your creations are unique, beautiful and
functional.
Lease
a Shop
You can’t rely only on contacts or marketing to sell your
products. You need an outlet to showcase and sell your products.
A smart way is to have your workshop at the back of the
store. Make your store appealing and visible and locate your store close to vehicular
and foot traffic.
To reach customers use large billboards and neon signs.
Use an interior decorator to create a nice practicable design for your store.
Staff
The size and scope of the business determines the staff strength.
Most small scale enterprises are incorporated as proprietorship businesses.
A single person could run a wood work business successfully. However you are
at liberty to hire an assistant or apprentice.
You can hire a sales clerk to sell your products in your
store. If you have a mass produced item use sales representatives and pay them
commission. You can hire a drive, buy a bus to carry your wood or pay for
haulage.
Build
a Website
Along with your store build a website to market your
products. A website opens the door to a larger customer base.
You can provide a shopping cart and add a checkout for card
debit or PayPal payments. Highlight your products with images, description and prices.
Indicate the places you can deliver to avoid
miscommunication. Deliver through speed post, courier services, manually
through direct delivery.
Your website should focus on a target market and country
or sell to the world. Sell your products through online classified websites
both paid and free. Make sure your website reflects your corporate identity
style and taste.
Add a contact us page, privacy
policy, about us page and terms of service.
Make sure the website is SEO compliant and easy to
navigate.
Funding
Secure soft loans from commercial and merchant banks. Try
target savings and reach out to investors. You can develop a partnership
arrangement or borrow from friends and family.
Join cooperative societies that offer loans to members
and invest in high quality equipment and proper training. Do lots of market
research to understand you community, and type of products they need.
Try to focus on
high-end products to make more money.
Why Wood Work Business
Wood work is practicable from home or a dedicated workshop. The business is profitable and highly competitive.
Wood work is practicable from home or a dedicated workshop. The business is profitable and highly competitive.
Custom furniture attracts premium prices because of their
uniqueness. You need to determine which items to make, legalities and marketing.
Other considerations include perfecting your carpentry skill,
setup costs and proper safety requirements. You need to purchase different
tools, equipment's and wood. There are a few things to consider before starting
your business.
Determine the Business Model
You need to determine the business model and choose a
niche. You could develop your own products or offer repair services.
There are different wood work products such as wooden
toys and furniture. The business model should have an effective marketing strategy.
And you need to decide if you want to work from home or a workshop.
Related Post: 15 Profitable Wood Working Business
Types
of Wood
Wood workers handle different types of wood during the
manufacturing process. Common wood includes hardwood, oak, plywood and veneer. They
also use softwood, sheets, and pallets.
- Ply wood
- Hardwood oak
- Veneer
- White wood
- Softwood
- Sheets
- Pallets
Types
of Wood Work Tools
You need basic tools such as woodworking router, hand
saw, table saw and nails. You will need glue, circular saws, jig saws, hammers
and measuring tape. Purchase a strong work table and sandpaper.
Make sure you purchase essentials in bulk to reduce
costs. Heavy machinery could be bought used/refurbished.
Wood
Work Tools
- Chisels
- Woodworking router
- Hand saw
- Table saw
- Nails
- Glues
- Circular saws
- Jig saws
- Hammers
- Measuring tape
- Strong work table
- Sandpaper
Prepare
a Portfolio
It is very important preparing a portfolio. The portfolio
should highlight your products and service.
This is presented to potential clients to show your
proficiency. Register the business as a one man business get insurance and sales
tax identity certificate.
Marketing
the Wood Working Business
Attract customers by producing quality products. You
could sell branded products or produce your own.
Use effective customer service including discounts and
promotions.
You need a visible showroom in a heavily populated area. You
need to network with contractors, estate developers and government offices.
Promote your business through electronic or print media.
Take advertisement in local newspapers and woodwork magazines.
Use television advertisement and radio and print handbills,posters and complementary cards. Use press release, open house party, and
referrals.
You can network with wholesalers and
retailers in your area. Show your products at fairs, trade shows, flee markets
and stores.
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