No money-making venture can be more promising than one that involves something you love and do best. If you have a knack for creating things with your hands as a hobby, like creating items out of wood, this could be a good moneymaking opportunity for you.
Woodworking is good business, but if carving using this medium isn’t a hobby of yours, it might prove rewarding for you to explore and learn the skill. You don’t need to be very skilled and come up with intricate and detailed wooden sculptures to make money. You can create practical items like a wooden box and still find a market for it.
It is undeniably an advantage if you have done some woodwork in the past before venturing into the woodworking business to make money selling your wooden creations. Having basic woodworking skills minimizes errors or reworks and cuts the time required to finish each project.
The most important thing to keep in mind before you venture into making money from woodworking is to obtain the knowledge and skills required for it. It is also important to work using the proper tools and materials and commit to ensure quality in every piece of woodwork.
If you intend to stay in the woodworking business for the long run, gear up for it by buying tools of good quality. A beginner will probably require only a few, such as chisels, hammers, circular saw and power drill, so slowly add to your collection as you go along. Be sure to follow all safety precautions to avoid any personal injury or damaging your tools.
Start by focusing on one or a few pieces which you feel you are good at. Be it a piece of furniture, a bench, a box, an ornament, a wooden plaque, door numbers, or even a bow. With woodworking, no item is considered too little or too unimportant since there is always a market for even the smallest of items. As long as it is well crafted someone will find it attractive and may end up buying it.
It would be best to begin with pine, spruce or fir and go on to work with hardwoods such as cherry, maple and oak as you gain more expertise and experience. Pine is a very common softwood and is usually the easiest to work with, especially for fine woodworking.
Most of the woods available at home centers are softwoods, labeled as SPF which stands for Spruce, Pine and Fir. Learn and understand the type of wood you can work with. Your desired result on your finished product is highly dependent on your choice of materials since each type of wood responds differently to the treatment and conditions it will be subjected to.
When you have a ready portfolio of products to market, price them sufficiently, taking into careful consideration the skill and time involved. Pricing is key to making money from woodworking, so do research to find out the going rates for the types of items you have to make a comparison. Then come up with a price that you are happy with, ensuring they are still competitive in the industry.
Attend trade fairs and craft shows and observe what items sell most and for how much. Take advantage of free demos, fliers and business cards and learn as much as you can in managing this kind of business. Take note of their marketing strategies then try to formulate your own, making sure you differentiate yours by a unique strategy or by simply marketing to more areas than your competition.
You may also want to specialize in only one type of wood or one type of woodwork. This strategy may probably expose you to a smaller market, but a lot of businesses have been known to thrive with niche marketing, especially if they become known to produce very good quality products.
To excel in your selected niche, fine tune your knowledge on your chosen market segment. For instance, if you intend to specialize in bows, attend archery events or hunting shows to build your network. Renaissance fairs and craft fairs are the best places to seek inspiration and information for those who want to focus on decorative wood pieces.
With each project, seek to learn something new so each type of woodwork you do gets even better with time. Refreshing your portfolio with new or improved products is also wise, as it helps to build your credibility as a skilled and relevant woodwork merchant.
To market your business, make some demo products that you can hand over to potential customers for a closer appreciation of your work. Buyers are more comfortable seeing your creations first before they buy any of them, so having something ready to showcase your skills will come in handy.
In this age of technology, creating a simple website promoting your woodwork is a good way to promote your business. Place good photos of your demo products with some descriptive text, and regularly update your website with new items to keep it relevant. You can also explore placing advertisements on your local newspapers, the Yellow Pages, or the any online classified sites that allow you to post your business for free.
Make your woodwork business a work in progress, continually harnessing your skill and improving your products, and you will soon find there is real money to be made from woodworking.
Are you making money with your woodworking skills or thinking about doing so? Be sure to share your comments, thoughts, ideas below…
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