Many people are extremely skilled at working with their hands and creating beautiful and useful things. One of the oldest crafts which is still appreciated in the present is woodworking. Wood is a sturdy, beautiful and resilient material which can be crafted in many ways, creating everything from everyday items to amazing artworks.
If you are skilled in this time-revered craft, here is some great news from you: the latest interior design trends have revived the rustic look of homes, with lots of handmade wooden decorations and furniture. This means that you stand great chances of being successful if you decide to open a woodworking home-based business.
Not sure how to do it? We are here to help you with tips and advice which will put you on the right path towards becoming a successful entrepreneur. When it comes to woodworking, these are the most pertinent issues a potential home-based business owner should know and consider:
1. Woodworking Requires a Minimal Start-Up Capital
If you want to open a woodworking business, chances are you have already been practicing this craft as a hobby for some time now. If so, you already own the most important tools you need and have a shed or a garage where you can work undisturbed.
Thus, you do not have to invest a lot of money in equipment and workshop location. It is recommended, however, to make sure that you separate the work area from the home area in order to be able to deduct your expenses with utilities (electricity, heating, water, etc.).
2. Find Your Niche
Woodworking is a very large industry. In order to be successful, you should specialize in a certain niche. This niche should be one you like and are good at; at the same time, you should make some inquiries and find out if you have a potential market for the items you want to make and sell. Some of the most successful woodworking niches are:
⦁ Cabinet making
⦁ Wooden toys
⦁ Decorative sculpted items
⦁ Rocking chairs
⦁ Bird houses
⦁ Handmade artistic furniture (headboards for beds, armoires)
⦁ Picture and photo frames
Your niche must be directly connected with the local area you live in. For example, if you live in a large city, artistic furniture is in demand, while in the countryside you will find more customers for fences and basic furniture (cabinets, garden tables and chairs).
3. Ask Your Friends to Spread the News
It is likely that you already have some crafted items which you have made as a hobby. You should start by gifting some of them to your friends and ask them to share their opinions on them with their own friends on social media.
Word of mouth is the best form of marketing and promotion, so do not consider that you are losing money if you give away a few items. It is more expensive to promote yourself without any support, and without anyone endorsing you and your products.
4. Have Your Items Professionally Photographed
As you prepare to launch your business, you should be ready to showcase your items in a website or on social media accounts. If you have a photographer friend, negotiate a fair deal – because you need professional photos of your items. Yes, everyone has a phone with a good camera, but a good photographer knows how to set up the background and the lights in order to capture the best angle of your products.
5. Learn How to Price Your Products
In order to make it worthwhile, you should make a profit from selling your items. The final price should reflect both the materials you used and the time and care you took in crafting them. To get an idea of how to price your products, search various online craft stores on Etsy and eBay and use those prices as reference for yours.
Last, but not least, invest time in building a personal brand for you and your home-based business, by creating social media accounts and engaging with potential customers.