Making Money with Woodworking
Either by selling your hobby pieces, working for someone else or by starting your own professional shop you've probably thought about making money through your woodworking. Appropriately pricing and marketing your work is key to accomplishing it profitably.
A Career in WoodworkingThere are a number of option for making money in woodworking. Working in the industry is an obvious way, but may or may not be exactly what you are looking for.
Making money from you hobby always sounds good, but you have to know how to do it. Showing that you can make money from your hobby is also a good way to show if you have the potential of making enough to turn it into a part-time or full-time business.
Growing your woodworking business is important to keep it from dying. Generally gaining customers is the most important factor in the long-term success of a business.
Making money from your pieces can come from a variety of traditional and non-traditional sources. Using the internet to expand into new markets can be a very important source.
There are three broad groups making money from woodworking, full-time woodworker, part-time woodworkers, and hobbyist. Obviously, full-time woodworkers are deriving most or all they’re income from woodworking, and part-timers are deriving some income from their woodwork. But the average hobbyist derives little or no income, it is a hobby.
Correct pricing and tracking of the cost is one of the most important issues in running a business and is especially import for a new business to get correct. Knowing cost is also important to be able to know that any project given to a contractor or sub-contractor is being priced accurately.
Selling your pieces includes picking the correct markets, pricing your piece correctly, and knowing the correct sales channels. It important to know if you are trying to run a viable business, or just trying to move your pieces.
The decision of starting a woodworking business includes picking a market, determining how to make sales, and decide what equipment needs to be upgraded. As a hobby, you can make what you want, but as a professional, you need to make what can be profitably sold.
Do you really want to get into a woodworking business? Spending more time in your hobby, and getting paid to do it sounds good. But, it often requires giving up all the parts of woodworking that you enjoy.
The woodworking industry is in a state of flux, both long-term and short-term. The current economy is difficult, but also has its opportunities for those with the right talents. In the long-term new tools and equipment challenge the craftsmanship of handmade pieces.