If woodworking is a hobby that you want to turn into a fulltime business, then there are lots of things that you need to consider before going full steam ahead.
The Pros and Cons of Running a Woodworking Business
The main pro of running a woodworking business is that you’ll get to do something that you love and people will appreciate it – and pay for it. You can schedule your own hours, work in your own home (if you have the space) and generally enjoy the flexibility of being your own boss.
If you’ve already been using the equipment that you need to do the work, then setting up a business may be quite inexpensive. You can start small and expand as you get more clients.
There are also many opportunities outside of actually creating projects, such as teaching, writing or selling designs.
However, starting any kind of business is a risk, and woodworking does require investment upfront for equipment and supplies. You will have to invest time in learning business skills, such as how to create a business plan and how to market yourself effectively.
Tips for Success
A positive attitude to create beautiful pieces will mean success, whereas a positive attitude to purely make money as fast as you can will not. Be the very best that you can be at your craft and you will be able to make the most profit, because people will value your skill. Interlinked with this is your marketing strategy and pricing your work at the right level. Combine all of these things and you will find that making a profit is easy because you are selling your product as handmade, artisan or luxury.
Treat it like a business – if you continue to treat your woodworking business like a hobby, then it won’t be as successful as you want it to be. You have to balance making a profit and creating beautiful pieces that people want to buy.
Being a great woodworker is just one part of running a successful business, and there are many roles that you will have to take when you begin to run your own company. From woodworker to accountant and marketing director, there are many skills that you need to learn. Some skills are best learnt before you begin a business, such as planning and bookkeeping, but skills like promotion and marketing are skills that are often learnt over time.
Your equipment is important when you’re running a business, so investing in high quality machines from Biesse will ensure that you have tools to rely on. The worst thing that you can do is to rake orders in and be unable to fulfil them because the tools that you have are poor quality.