Starting a woodworking business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell woodworking projects, or selling woodworking projects online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a woodworking business ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$0||$7,000|
|Equipment & Supply Expenses||$66||$700|
|Advertising & Marketing Costs||$0||$3,000|
|Specific Industry Expenses||$0||$500|
|Total Startup Costs||$141||$21,740|
|Wood Products Development Council||woodproducts.ny.gov||#576|
|Sierra Living Concepts||sierralivingconcepts.com||#119,405|
|Quality Woods Furniture||qualitywoods.com||#126,274|
|The Wood Database||wood-database.com||#152,838|
|Flexibility||You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.|
|Ability to start your business from home||It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!|
|Rewarding work||Starting a woodworking business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.|
|Scalable||With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.|
|Meaningful business connections||You never know who you will meet as a woodworking business. This could be the start of an incredible business opportunity!|
|Quick build time||The average time it takes to build your product is quick - typically around 7 months. This will allow you to bring your product to market faster.|
|Crowded Space||Competition is high when it comes to your woodworking business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.|
|Low margins||The gross margins for your woodworking business are typically around 65%, which can make it more challenging to incur new expenses and maintain profitability.|
|Work can be inconsistent||As a woodworking business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.|
|Lack of benefits||With a woodworking business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.|
|Taxes||As a woodworking business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.|
|No safety net||Typically, as a woodworking business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.|
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.
For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.