Do you want to start a wood working company from scratch? Or you need a sample wood work business plan template? If YES, then i advice you read on.
The roles which carpenters play in seeing to tasks like making of furniture, shelves, amongst others cannot be over flogged. This is because this a venture requires adequate skills. One other related area which people are turning to; is the wood working business. If your hobby is working with wood, you can turn your hobby into a means of livelihood by starting a woodwork business.
The woodwork business has to do with turning woods into creative structures for sale. As you might already know that there are avalanche of people who take very seriously wood works. People still buy wood carvings for interior decorations because of the effect these works give a room. There are a lot of folks who have made this a serious means of livelihood because of the returns it gives.
If you know that you have a penchant for the wood working thing and you have decided to embark on this journey by going after your hobby, then you may consider taking the following tips in this read really seriously. You can start a woodwork business and turn it into a full time business with time.
Some of the advantages of starting a wood working business include the opportunity to make good money with your hobby, the luxury of starting with a low startup cost, other career opportunities in the wood working industry. If you are ready to learn what these tips are about; then here it goes.
Starting a Wood Working Company – Sample Business Plan Template
You need to have a clear plan of how you want to run your woodwork business even before you get started; the plan has to contain every little detail of your business; include estimated amount you need as capital you need to start this business.
Tools you will need to perfect your trade. Where you will purchase wood in large quantity; how you intend to market your products; other aspects of woodwork you will incorporate into your business, and business goals you wish to achieve in the next 2 to 5 years.
2. Set Up a Workshop
The next step is to set up a workshop where you will stay to undertake creative woodwork; your workshop should be space and conducive to allow you work comfortably. You may be spending hours in your workshop daily, so you have to make it a comfortable environment.
If the garage you have at home is a spacious one, you can convert it into a workshop, if you don’t have such space at home, you can go ahead and rent a space that will serve as your workspace. If you will operate this business as a home business, you have to determine a means of receiving payments from customers and a stand by line while your client can contact you for inquiries.
3. Purchase Tools-: After you have found a comfortable space to serve as your workshop, the next step is to purchase all the equipments you need work; make a list of all the equipments you use for your woodwork, and order for them.
4. Source for Woods
Wood is the major material you need for your wood work and their different kinds of woods available, all depending on the tree the wood is gotten from; you have to find a good source where you can order for any time of wood at any quantity you need at a cheaper price; you can actually make a deal with companies that fall trees in the forest for wood supply.
5. Design and Carve
You can actually make your own designs and sale or you can make custom designs based on client’s request. You don’t just go ahead and start carving because you may end up not selling most of it. You have to carry out a research in your location to get idea of wood carving structures that are on demand to structure your own accordingly.
The final step is to advertise and market your business; some ways to market your business include;
- Interior Designers-: Interior designers decorate the interior aspect of a home; they may need some wood carving to complete the interior texture of their decoration. You have to network with interior Designers in your area and keep them up to date with wood carving designs you have available. You should also be able to take custom orders to carve according to the interior designer’s need and specification.
- High Brow Home Owner–: You can also showcase your product to high brow home owners; most of them love to have collection of exquisite wood carvings in their collections.
- Word of Mouth Advert-: You can advertise your business and product using word of mouth advert to friends, relatives and colleagues; you can also supplement it with a complimentary card to make it look more official.
- Exhibition-: Exhibition is not just limited to paintings or drawings, you can also partner with other woodwork experts in your area to organize an exhibition where you people can showcase your product for wood lovers to come make their choice.
Before you organize an exhibition, ensure that you have many collection of carvings for sale, and most of them have to be exquisite and creatively structured; to cover up cost of organizing the exhibition because most times, exhibitions are not cheap to organize.
So far, I have covered Pros of starting a woodwork business; how you can start your woodwork business and ways you can advertise and market your products. Finally, remember to visit the Town County in your area to get a business permit or license to operate this business; not forgetting to get your Tax Identification Number from the IRS for tax payment.