A woodworking business is often only a dream for many men and even women, but if you follow a few important steps you'll see it's not as hard as it may seem to start a successful woodworking business. Before you get started, you probably want to know how much money you can earn woodworking. The great thing about woodworking is that your potential earnings each day are completely up to you. If you're feeling lazy and just want to build a couple of chairs for a $ 100 profit, or maybe your rip and roaring to go and you decide to build 10 tables for a nice $ 500 profit. Obviously the profit you earn will also depend on the quality of your work, but we'll talk about that later.
The first step in starting your business is to choose what kind of product you're going to specialize in. This can be anything from fixing up cabinets, to producing furniture, and even making wooden toys. You should consider purchasing some premium woodworking plans / blueprints at this point so that you know your creating grade A quality products. Knowing what kind of product you're going to specialize in will also give you an idea to what equipment you'll need to produce your product.
After you've chosen the product and have purchased or rented the correct equipment you'll have to find a wood supplier who will give you the best deal for your dollar. You'll likely save money if you buy a bulk supply of wood, but do not get to in over your head. Only spend what you can afford and always have an escape plan in case your business is not successful.
Now that you have your equipment and wood you'll need a working space. This can be anything from your garage, to a small rented lot, or even a large building if your business expands.
Now that your ready to start building it's time to advertise. You can advertise through fliers, Craigslist, garage sale ads, yellow book listings, or even your own website. You should have already built sample work so that you can take pictures that you can put on your website, fliers, etc.
Now that you've advertised business should start rolling in. If you hit a dry streak you should try new methods of advertising or maybe expanding your product range. If your business is really booming and it starts getting overwhelming you might want to consider hiring some employees or asking your friends or family to give you a hand. When starting a business you should always set a budget so that you do not end up going bankrupt.
Source by Ryan H Peterson