How Much Does It Cost To Start A Woodworking Business? (In 2024)
Looking to start a woodworking business?
But curious about:
- how much it costs to start a woodworking business?
- what are the typical woodworking business startup costs?
- or the actual cost of starting woodworking businesses?
Well, we have the data to prove it, supported by real woodworking businesses and how much they actually cost to start.
Let's go over it.
What is the average cost of starting a woodworking business?
Based on our data reported by actual woodworking business founders, the average cost of starting a woodworking business is between $7,500 and $50,000.
Additionally, our data shows that the the median startup costs for a woodworking business are around $30K.
Remember, though, not all woodworking businesses are the same - and neither are people's budgets. It's important to distinguish between different levels or types of woodworking businesses
Real World Examples: How much does it cost to start a woodworking business?
We asked real woodworking business founders and business owners how much it actually cost to get started?
Here is what they said:
Jared Waters
Founder of Mini Materials ($20K/month)
"I figured throughout the process that I could at least sell enough to break even - since startup costs were under $500 total."
Mat Hofma is the founder of Mini Materials, a business that sells miniature masonry and woodworking supplies.
Steve Smith
Founder of 2Puggles ($2.5K/month)
"To start 2Puggles, I loaned myself $100. Now that I think about it I never paid myself back but from that point on the business has sustained itself."
Steve Smith is the founder of 2Puggles, a woodworking-based business that specializes in wooden earrings, bookmarks, coasters, and wooden clocks, which he started in 2014 as a part-time experiment while teaching high school marketing.
Andrew Stokes - Cameron Vilcsak
Founder of MTN SIDE BUILDERS ($40K/month)
"I even paid $10 for advertising on the video just to see what kind of viewers that would bring and how cost effective it was."
Cameron Vilcsak is the founder of Mountain Fire Woodworks, a business specializing in woodworking projects and YouTube content creation.
Sasha Weekes
Founder of Timber Grove Studios ($6.5K/month)
"Outfitting a large woodshop costs thousands of dollars. Instead, I started out with an old miter saw that my shop teacher sold me for $30, just enough material for a few shelves to photograph, and my biggest investment - a new nail gun and compressor - came to around $350. Fresh out of school with no savings whatsoever, I got only what I needed and got to work on designing products with it."
Sasha Weekes is the founder of Timber Grove Studios, a home-based woodworking business that started in 2017, specializing in decorative shelving and home decor.
Brett Burdick
Founder of Brex International, LLC ($18K/month)
"I financed the launch of the Hedgehog myself from my savings. My supplier required a 50% deposit on the tooling with the balance due after sample approval. They also required a 50% deposit for the product with the balance due before shipping so at least those big expenses were spread out over a couple of months."
Brett Burdick is the founder of Brex International, LLC, which produces The Hedgehog, a patented spiral featherboard for woodworking.
David Dennis
Founder of Ventana Surfboards & Supplies ($8K/month)
"We started the company with a very small personal investment from each of us."
David Dennis is the co-founder of Ventana Surfboards & Supplies, a business creating environmentally responsible wooden surfboards and related products.
Zack Hall
Founder of SketchUp For Woodworkers ($1K/month)
"After a little negotiation, he agreed to sell the site for $5,000."
Zack Hall is the founder of SketchUp For Woodworkers, an online course business that teaches woodworkers how to use 3D design software.
Enjoyed reading these real world examples?
Our platform is full of case studies of successful woodworking businesses that you can learn from.
Starting a woodworking business - what you should know:
Starting a woodworking business involves various costs that can add up quickly, so it's essential to understand the financial landscape before diving in.
Initial Equipment Investment
The cost of initial equipment can vary significantly. Basic tools like a good table saw can range from $500 to $3,000, while handheld power tools like drills and sanders can cost between $50 and $300 each. If you're considering more advanced machinery such as CNC routers, expect to pay anywhere from $3,000 to $10,000. Initial investment in quality tools can total anywhere from $2,000 to $20,000, depending on your business scale.
Workshop Space
Leasing a workshop can be one of the most significant ongoing expenses. A small commercial space (about 500-1,000 square feet) can cost between $500 and $2,000 per month, depending on location. If you're working out of a home-based workshop, factor in potential utility cost increases, which could add $50-$200 per month to your expenses.
Material Costs
Wood and other materials can be costly. Hardwood like oak or maple can cost $5 to $10 per board foot, while softer woods like pine or poplar are cheaper, at about $2 to $5 per board foot. Additionally, you may need to consider the costs for nails, screws, adhesives, finishes, and other materials, which can add another $50 to $200 per project.
Marketing and Sales
Don’t forget to budget for marketing. Website development can cost around $500 to $3,000 for a custom job, or as little as $10 to $50 per month using DIY platforms like Wix or Squarespace. Business cards, flyers, and online ads could add another $100 to $500 to your initial costs.
Understanding these financial aspects can help you better plan and budget for your woodworking business, aiding in ensuring its long-term success.
Potential Costs of Starting a Woodworking Business
Starting a woodworking business involves various costs ranging from tools and materials to administrative expenses. Below is a detailed table outlining the potential costs you might encounter:
| Category | Item/Cost Type | Estimated Cost Range | Description |
|---|---|---|---|
| Tools & Equipment | Table Saw | $1,000 - $3,000 | Essential for making straight cuts on large pieces of wood. |
| Band Saw | $800 - $2,500 | Useful for cutting curves and intricate shapes. | |
| Router | $150 - $500 | Needed for hollowing out areas of a piece of wood. | |
| Jointer | $300 - $2,000 | Used to produce flat surfaces along the length of a board. | |
| Planer | $400 - $1,500 | Smooths and reduces thickness of wood pieces. | |
| Drill Press | $200 - $1,500 | Helps in making precise holes. | |
| Sanders (Belt, Orbital) | $100 - $500 each | Essential for smoothing surfaces. | |
| Hand Tools (Chisels, Hammers, etc.) | $500 - $1,000 | Basic tools required for various tasks. | |
| Dust Collection System | $500 - $2,000 | Keeps the workspace clean and free from dust. | |
| Workbenches | $200 - $1,000 each | Required for holding and working on wood pieces. | |
| Clamps, Jigs, and Fixtures | $200 - $800 | Various devices to hold materials in place. | |
| Safety Equipment (Glasses, Gloves) | $100 - $300 | Essential for worker safety. | |
| Computer & Design Software | $1,000 - $2,500 | CAD software for creating detailed designs. | |
| Signage | $200 - $1,000 | For branding and local advertising. | |
| Materials | Wood (Hardwood, Softwood) | $500 - $5,000+ | Raw materials for your projects. |
| Fasteners (Nails, Screws) | $100 - $300 | Essential for joining pieces together. | |
| Adhesives, Glue | $50 - $200 | Needed for bonding wooden pieces. | |
| Finishes & Paint | $200 - $1,000 | For the finishing touches on products. | |
| Rent & Utilities | Workshop Rent | $500 - $2,000 per month | Depending on location and size. |
| Utilities (Electric, Water) | $100 - $500 per month | Essential for operations. | |
| Operational Costs | Website Hosting | $10 - $50 per month | For maintaining an online presence. |
| Business License & Permits | $50 - $500 one-time | Legal certifications to run the business. | |
| Marketing & Sales | Online Advertising | $100 - $1,000 per month | To reach potential customers. |
| Business Cards & Brochures | $50 - $200 | Essential for networking and promotions. | |
| Labor Costs | Staff Salaries/Wages | $2,000 - $5,000 per month | Depends on number of employees and their roles. |
| Training & Development | $100 - $500 | Initial training costs for employees. |
These are approximate costs; actual expenses may vary based on your specific business needs and geographical location.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
