Maybe it’s been your dream to work with your hands for years, and you come home from work to get right to work cutting wood with a circular saw. Perhaps you’re looking to put your talents to good use now that you’re retired and you want to make furniture-making a full-time business. Whether you’re working entirely out of your garage workshop or you plan to rent a store location for customers to browse your finished projects, treat the venture as the business it is, not just a hobby, so you can afford to continue making furniture for years to come.
Know Where to Buy Your Tools
Order woodworking tools from a company that specializes in them to get the best prices. Because they buy in bulk, they can pass a discount on to you, so you’ll be paying far less for the tools you need to get your business off the ground. When you’re first starting, you’re going to be especially strapped for cash, so it makes sense to be mindful of how much you spend. Shop from a place that specializes in panel saw blades, boring bits, carbide inserts and other tools, and you won’t sacrifice quality for a cheaper price because they’re expert suppliers when it comes to all the tools you’ll need for woodworking.
Market Your Work
You may love to spend time crafting, but there’s more to a successful business than making a quality product. If you don’t want to worry about marketing, hire someone who will or get a friend to help out. Social media advertizing is free and effective, and adverts in the local paper can generate business. Be sure to participate in any local crafts fairs as well. The more people know about your product, the more word-of-mouth you’ll get and the less marketing you’ll have to do yourself.
Get in Touch With an Accountant
Even if you don’t plan to make your business more than a one-person operation, if you intend to make money, you’ll have to make sure all your licenses and tax information is in order. Hire an accountant to go over all of the records you’ll have to keep and tax payments you’ll need to make throughout the year to keep your business legit.
If you’re passionate about furniture-making, there’s no reason why you can’t do it as a hobby, but turning it into a profit-making business will give you a lot of confidence in your work. It will also provide you with the money you need to keep doing what you love. While you don’t have to aim to exceed your capacity for work, you should generate just enough business to fund your woodworking enterprise.