How To Start a Small Woodworking Business on Your Own
Like all great hobbies, woodworking is a passion you can transform into a job. Although anyone can start a business, there are many factors to consider if you want it to succeed.
Starting a company is a daunting task. It isn’t always clear where to start or what details you should complete before opening up your doors. If you want to figure out how to start a small woodworking business on your own, begin with the comprehensive breakdown below.
Create a Solid Business Plan
First and foremost: create a solid, concise business plan. Creating the perfect plan requires solidifying what your daily goals as a company will be. For example, transparent communication, industry-leading technology, and efficient project times are just a few goals worth exploring.
Your goals should influence your overall company culture. Inclusivity, professionalism, and safety are great core ideals for company culture, but there’s more to it than that. Taking steps like providing employees opportunities for growth and ensuring they have all the tools they need for projects creates a welcoming, productive workspace.
Financials and Market Details
When you’re starting your woodworking business, you must look carefully at your budget. More specifically, consider the costs for starting the business and running it long-term. Use this information and other market research to determine your target audience and how much you’ll charge for services.
Additionally, include market information in your plans, such as competitor data, marketing strategies, and financial projections.
Get the Necessary Licenses and Insurance Coverage
Always remember to get the applicable business licenses and insurance policies when you begin your woodworking business. That way, you can ensure the company is operating legally and responsibly. Simply contact your local city and county business license offices to inquire about requirements; results will vary depending on where your business will reside.
There is a wide range of insurance coverages available. General liability, commercial property, workers’ comp, and business interruption insurance coverages are must-haves when starting a small business. Additionally, invest in automobile insurance if you plan on having company cars.
Find a Suitable Workplace
Of course, before you start getting to work or hiring other employees, you need to have a workshop ready to go. If you have the means to set up a suitable workstation at home, then that’s a great avenue to take.
That said, you also have the choice of looking at other buildings. Find a space in which you can comfortably fit a workshop and general office area. At the end of the day, you need a space that fits your equipment, projects, employees, and other essentials. Additionally, make sure to consistently clean your areas.
Clutter is dangerous for any passersby, whether they’re a client or an employee. Having a messy workspace doesn’t make you look professional. By inviting clients to a workplace that feels welcoming and presentable instead of filthy and dangerous, you can make a great impression every time. Speaking of safety, it’s vital to design your workshop with OSHA’s regulations in mind.
Abide by OSHA Regulations
To avoid disastrous accidents and hefty fines, any reputable business in the United States must abide by the Occupational Safety and Health Administration (OSHA) guidelines for workplace safety. For this reason, OSHA’s website conveniently features all the organization’s standards, ensuring business owners can find the ones that apply to their industry.
There are various regulations business owners of any industry must follow, such as general requirements regarding workers’ rights. However, visiting the many guidelines under 29 CFR standard 1910 will help you locate the key regulations industry leaders must follow. Beyond the basics, OSHA regulations 1910.213 and 1926.304 are particularly pertinent to woodworking equipment, so include them in your research.
Creating a solid company culture requires more than reputable practices and an inclusive environment. It also requires a consistent focus on workplace safety. After all, woodworking is a hazardous industry; the tools involved can cause injuries if the proper practices are not followed.
Furthermore, dust will accumulate during woodworking projects, which creates a fire hazard. Have a dedicated dust collection system in place to prevent this. Luckily, you can significantly minimize these hazards and more by structuring your work environment with OSHA in mind.
Collect Your Essential Gear
No woodworking shop is ready to go without the essential gear. That said, there’s a lot of equipment on the market, so prioritize the basics over anything else. By basics, we mean tools such as jointers, planers, power drills, miter saws, circular saws, table saws, lathes, hammers, and chisels.
After collecting the correct gear for the job, begin chipping away at projects. You can always expand your arsenal of tools when necessary. Your gear list should also include office supplies such as computers, printers, telephones, and a Wi-Fi connection, which are all crucial for businesses of any size.
Find a Reputable Vendor
You’ll also need specific components for projects, such as cast iron coffee table legs. Doorknobs, keyholes, and cabinet panels are a few other particular pieces that’ll help you successfully pull projects together. So, to ensure you have a reliable place to turn to for such specific parts, seek out a quality vendor.
The qualities to look for in a good vendor include a wide product selection, positive customer reviews, and years of experience. For example, Bear Hollow Supply is over 20 years old—those years of experience ensure we can help to the best of our abilities. If you can find a quality vendor to partner with, accommodating unique projects will become more attainable.
Pursuing Your Passion
Now that you have a better idea of how to start a small woodworking business on your own, you can build a professional, reputable, and structured company. However, sometimes the business talk and technical details can distract from one of the most significant factors: your love for creating great products. Having a solid structure is vital, but never forget to keep your passion for each project prevalent in your business plan from the start.