Picking a niche allows you to focus your efforts and to keep your eye on the prize, and the prize here is to pick the right woodworking projects that lead to a profitable woodworking business.
Do you need a new computer desk for your home? What about a cabinet to hold collectibles or keepsakes? Plans for these and other handy projects can be found, it sometimes takes an hour or so of hunting to find the perfect ones. When working with wood as a hobby, creating something you can enjoy and cherish for years to come, the time just slides past like shavings from a hand-held wood plane and before you realize it, dinnertime has past and the sky has darkened.
1. No on size fits all mentality – they make no assumptions in skill levels – they have clearly categorized skill level specific projects
Go to craft shows not just one but as many as you can go to there are always two or three woodworking business represented at each one. Plan on spending the entire day at as many craft shows as you can, I suggest different craft shows because different shows attract different kinds of woodworking businesses. Keep your eyes and ears open, watch for which items seem to sell the best at each type of show. Look for the woodworking business that sells more than the rest and which of his woodworking projects are the most popular. This will give you a lot of insight to the local market, it makes no sense to waste your time and money making woodworking projects that just won’t sell in your area.
You are going to need a large supply of different types of woods and tools. It’s important that you don’t use sub-standard materials. You want your clients to have products that will last them a long time so they will keep coming back to you and they can recommend you to friends and family.
A good rule to follow when starting out is; to be successful – do what other successful people have done. Don’t just buy any old set of woodworking plans. Look for plans form established woodworking professionals.
First you need to know your local and state requirements for owning a business in the woodworking field. Once you do that, you need to think about what types of items you would like to produce, this will help you figure out types of tools and supplies you will need.
It is not uncommon when starting a new business to become excited and want to rush into this new money-making venture.There is a great saying: “If you fail to plan, then plan to fail”.
Depending on your situation, you could hire a person with a little less experience than yourself and teach them how to build your products. This would allow you time to develop more projects, and also market your business.