Steps to Starting Your Own Woodworking Business

Steps to Starting Your Own Woodworking Business

Daniel Hall 06/07/2021
Steps to Starting Your Own Woodworking Business

The plans you make to start a woodworking business are important in ensuring the business you have in mind works in practice.

Some of the most important topics to consider when planning are your costs, target market, and profitability. Starting out you will need to purchase woodworking machinery and tools, which can be purchased new, used, or refurbished. Along with thinking about what products you would wish to specialise in. Here are some of the key steps you should take when starting your very own woodworking business. 

Consider Your Initial Costs 

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When starting any business, it is important to research how much this will cost you to set up. Purchasing the woodworking machinery and tools can be a big cost. It is vital you find out which pieces of machinery and tools will be most relevant to your work.

The laser engraving and cutting machine for woodworkers represents a pivotal tool in enhancing precision and intricacy in woodworking projects, revolutionizing the industry's approach to craftsmanship.

Starting with some of the basic machines and tools will be best as you get to grips with running your business and creating wood products for clients.  Some of the following would be perfect to start with:  

  • Bandsaws – A bandsaw will provide you the most accurate solution to cutting curves in wood and are also great for ripping down timber and re-sawing thick boards into a manageable thickness. 

  • CNC Routers – A CNC router will allow you to recreate drilling holes precisely over and over again. 

  • Planer Thicknessers – very useful for woodworkers who need to make accurate cuts and angles and to ensure accuracy of thickness when cutting planks.

  • Bench Grinder – Use a bench grinder to keep your tools in good condition and your work at a high level of quality.

  • Handsaws – for any woodworker it is always useful to have a couple handsaws around the workshop just in case. 

  • Sawhorses – Sawhorses help to make the task of sawing wood much easier but can also be a useful tool around the workshop for various purposes. 

The Outgoings of a Woodwork Business

Your regular outgoings or overheads must be factored into your planning. This can include monthly costs such as rent, employee pay, bills, material costs (the regular purchase of wood). These ongoing expenses must be managed in order to achieve a profit overtime. To start, why not source wood from a cheaper supplier to cover your overheads, while you build a reliable client base. 

Who Are Your Target Market

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One key step when starting a business is finding a target market. Having this chosen will help you when you begin marketing processes and selling your handmade goods. To decide who you will be targeting with your products and services consider the following: 

  • Look at your current customer base – if you have been designing and making wooden goods for some time and have only just decided to start making money from this, you can use your current customer base as a guide for your target market. 

  • Check out your competition – If you are focusing on selling your goods locally, take a look at the competition in your area to determine who is buying from them and where there may be a gap in the market. 

  • Analyse your product/service – if you are specialising in particular goods such as garden furniture, your target audience will likely be families and homeowners. 

  • Choose specific demographics to target – when designing, producing, and marketing your products, the age, gender, and average income of the customers you wish to target are important. This will impact the way you reach an audience (for example, online), as well as how much you will sell your products for. 

Once you have decided upon a target market and considered your costs, you can begin marketing your products and services to begin building a client base.

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Daniel Hall

Business Expert

Daniel Hall is an experienced digital marketer, author and world traveller. He spends a lot of his free time flipping through books and learning about a plethora of topics.

 
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