• Skip to content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer

Best 4 Businesses - Entrepreneur Resources HomepageBest 4 Businesses - Entrepreneur Resources

How to Start a Business Right: Ideas, Names and Tips

  • STARTING
  • BRANDING
  • FINANCING
  • MARKETING
  • ACCOUNTING
  • REVIEWS
  • STARTING
    • Ideas
    • Business Formation
    • Patents
    • Entrepreneur Advice
  • BRANDING
    • Logos
    • Business Names
    • Website
    • Business Cards
  • FINANCING
    • Startup Funding
    • Line of Credit
    • Invoice Factoring
    • Loans
  • MARKETING
    • Sales
    • Advertising
    • Social Media
    • Email
  • ACCOUNTING
    • Software
    • Credit Cards
    • Payroll
    • Taxes
  • REVIEWS
This page may contain affiliate links. Please read my disclosure for more info.

How to Start a Woodworking Business

August 9, 2018 by Marsha Kelly, Serial Entrepreneur

start a wood furniture companyWoodworking is one of the best hobbies that you can start either from your home workshop or locally in your town and make good money from your woodworking skills.

Wood has been used for ages to make beautiful crafts and continues to be in demand to add beauty and function to our homes and offices. A woodworking business is a good venture and there is a lot of demand for wood products.

America’s wood product manufacturing business generates over $6 billion annually and is forecasted to grow steadily.  There are great opportunities for small businesses to capture market share because only 30% of the business is done by the largest firms.

If you want to start a woodworking business, then this guide will help you to get started.

>> Need a catchy woodworking business name? Check out this list of 125 name ideas!

Who is best suited for this business?

If you are a detail-oriented person who is good at math and can handle just about any skill with your hands, then you are a good fit for woodworking. These skills will be essential when it comes to carving and making manufacturing wood products.

 

Incfile makes entrepreneurship easy. Get started with $0 LLC today!

Free Business Insurance Quotes From CoverWallet

Daily activities of a woodworker

A woodworker spends most of his or her day making wood crafts and other wood related products. This work involves designing, cutting, and sanding the wood, then assembling the wood into final products, and painting, as well as staining and furnishing the product ready for consumer purchasing.

When a professional woodworker is not creating wood products, they are busy sourcing raw materials and marketing their products to customers.

Best target markets for a woodworking business

The ideal customer for a woodworking business is a person who loves and appreciates any wooden item and has enough money to afford wood products. Depending upon your designs this could be; expectant parents shopping for wood cribs, local building contractors needing specialized cabinets, retail stores who want custom signs and even online customers who appreciate wood creations. Decide your particular woodworking niche from wood product manufacture to a custom furniture maker.

 

How a woodworking business makes money

A woodworking business makes money by selling the wood products they design and manufacture at a price above the cost of materials and labor production. Popular wood products included house furniture, jewelry boxes, cutting boards, clocks, decorative signs, children’s toys, pens, office accessories, designer buttons, or beer mugs.

Incfile makes entrepreneurship easy. Get started with $0 LLC today!

Free Business Insurance Quotes From CoverWallet

Here are 33 top selling woodworking products you could sell!

wood products to sell online etsy

 

Growth potential for a woodworking business

Dependent upon your zoning laws, a woodworking business is the type of small business that can be run from home garage workshop, serving customers locally, selling products online, or it can be a large enterprise that serves customers across the country.

Business growth can be dramatic such as Pittsburgh based furniture and cabinet maker, National Woodwork, which started 40 years ago. Check out these ideas for 50 woodworking projects that are easy.

 

Skills and experience needed to start a woodworking business

Making products from wood experience and crafting skills to produce products consistently without errors, since every scraped project is a business loss. It’s not difficult to acquire these skills but it does take a considerable amount of time and dedication to capture most of the details that go into making wood products.

Incfile makes entrepreneurship easy. Get started with $0 LLC today!

Free Business Insurance Quotes From CoverWallet

There are several organizations that will train you in making wood products and give you certifications but they are not necessary. If you want to make it in the woodwork industry, you are better off learning on the job.

You can start learning and gaining your initial skills as a hobby but you will later have to be employed in a woodwork business in order to learn the essential skills and how to use the necessary machines.  Here’s good advice on how to become a woodworker.

 

Costs of starting a woodworking business

The cost of starting a woodworking business can be a bit high but is manageable. As a business owner, you should have about $7,000. Listed below is a breakdown of how the money would be spent.

  • $ 2,000 for wood and other materials such as paint
  • $2,000 for the tools and equipment needed to start the business
  • $   600 for a computer
  • $   900 for a camera and website set up
  • $   150 for business cards
  • $1,000 for unknown expenses

This budget assumes that you have a workshop space that you can use to start your woodworking business. If you do not have enough space to start woodworking from your home, you will need to find a good place to rent with good security (to protect your valuable tools) to start and run your business.

The good thing about having your own space to work from is that you reduce the renting expenses and you don’t need to find a workspace to lease. You can use your website to showcase your products and also sell your products online using e-commerce software. You can also look for fairs and festivals where you can be a vendor and sell your products.

If you do not have enough money to purchase a particular tool that you need for your business. Try asking a friend to borrow his, convince them by offering to make them some wooden products they would like.

Incfile makes entrepreneurship easy. Get started with $0 LLC today!

Before you can start any woodworking business, it’s good to know all about the legal requirements that are needed to open and run a woodworking business. Ensure that you obtain all the necessary permits and licenses to avoid future conflicts with the law. Be sure to set up a business entity such as LLC – limited liability company or Corporation to protect your families assets. Save 10% with this LegalZoom promo code BEST4B19. 

It is also important you get an insurance cover for your business to cover anything that may come up – most importantly workman’s comp to cover any injuries. If you are already a professional woodworker who wants to establish a woodworking business and hire employees, it is required by law to get compensation insurance.

 

how to start a wood working company

How to promote your woodworking business

The best way to market your wooden products online is by promoting your business website on social media, and optimizing it for the web so that you can get found by customers searching for your products. Additionally, you could market your goods on one of the large online craft sites such as Etsy.  Check out the 5 best selling wood products on Etsy

Besides using social media, you can also place ads on advertising platforms such as Craigslist and online forums that are interested in your type of wood products. An example would be if you produce wooden rolling pins to post ads on baking and cooking forums. Another way to promote your woodworking services is to use flyers or business card distribution in your local area to get new customers.

Keep in mind that in the woodworking industry, what sells your business best is your professional portfolio of completed projects. Get good pictures of your work and upload them to your website. Ensure that you add pictures in all of your flyers and business cards. These pictures should be visually enticing to get people inquiring about your services. Learn how you can make a living selling your woodwork online from successful woodworkers.

Incfile makes entrepreneurship easy. Get started with $0 LLC today!

 

Woodworking Pricing strategies

In order to price your product strategically, here are the factors you need to consider. You should calculate, the cost of materials, labor, profit goals, overhead and marketing expenses.

You can calculate using spreadsheets or manually with a calculator. Ensure that you set your yearly target and divide it by the number of hours you are willing to work in a year so as to get your hourly rate. Your hourly rate will be your labor cost.

You can now go ahead and plan your woodworking business. This guide has all the basics you need to get started. Woodworking business is one of the best ways to make money while you enjoy what you love doing – creating with wood.

Do not let the competition out there hold you back. Go for it and let your creativity and passion to successfully guide you in your new woodworking business.

How to set a price for woodworking projects from your home workshop

Incfile makes entrepreneurship easy. Get started with $0 LLC today!

Resources to Start Your Woodworking Business:

Woodworkers Guild of America: Woodworking Videos, Classes & More

North Jersey Woodworkers Association

Northeastern Woodworkers Association

San Diego Fine Woodworkers Association

Woodworkers Association of NSW

Orange County Woodworkers Association

Northwest Woodworkers Association

Gwinnett Woodworkers Association

The Woodworking Association of Pretoria

Guild of Oregon Woodworkers

Washington Woodworkers Guild

SAPFM – Society of American Period Furniture Makers

Society of Canadian Woodworkers

Alabama Woodworkers Guild, Inc.

Southern Alberta Woodworkers Society

 

Starting a woodworking business profits

 

 

 

 

Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.




Discover Your Best Domain Name

How to Scale Your Sales Operation

IncFile vs. LegalZoom: Which is Better for Your Business?

How to Start a Construction Company in Texas

How to Launch a Profitable Bakery Business in California

How to Open a Profitable Bakery in Texas, USA




Footer

Recommended best software and tools recommended for small business and entrepreneur startups

START YOUR BUSINESS TODAY FOR $0 ZERO AT INCFILE

Start LLC for $0 at IncFile

RECOMMENDED ACCOUNTING SOFTWARE

BEST LOGO DESIGN WEB SITE – SAVE $99

Best 4 Businesses - Entrepreneur Resources Homepage

Copyright © 2021 Best4Businesses.com · All Rights Reserved