How to start a $30K/month Woodworking Business by Uplift
This blog will share with you tips on how to get your business to reach $500,000 a year! Daniel Westbrook from Westbrook Carpentry and Millwork shares the path he took to get his business to that point.
He turned to the carpentry business after starting four other businesses in the real estate and construction industries. Being featured magazines, various TV Shows, and Commercials has led to Daniel becoming a household name in Seattle.
Initial Budget and Expenses
The most apparent investment in starting a carpentry business is the tools. However, when creating your initial budget and expenses, it is vital to also pay attention to the office stuff. Your computer, CRM, website costs, and other marketing tools all are all worth investments you need to use to ensure people know that your brand exists.
Starting a business requires significant investment of both time and effort, but it is wise to budget around $10,000 at the very least to get your business started.
The most expensive expense you can incur per month is the salary of your staff. Your tools, shop space, equipment, and materials will all factor in as well, but paying your staff will be the most important ongoing cost.
Before thinking about what tools do you need for your business, you must first identify what are you going to do, because there are a wide variety of paths within the umbrella of woodworking. The tools required by a woodworker dedicated to milling will be different than those for someone building tables, and even further different than those working in sculpture or carving.
Advertising/ Social Media Platform
“I don’t usually spend money on social media but I spend my money to Google Adwords, I use keywords and spend around $300 – $500 a month..” – Daniel Westbrook
Here are some of the keywords that Daniel finds really bring in returns for his business:
- Historic Window Restoration
- Historic Front Porch
- Staircase
- Custom Cabinetry
Those kinds of keywords are fitted with the people’s needs in your area. Google Adwords is incredible software, it might be complicated, but if I can do it, then you can do it too!
Identify what your brand is, identify what you do, and create a website that expresses your brand in a very simple way.
Get online, do your social media, focus on your business and focus on what you do. Post photos of your jobs, at least one post a week, check-in with friends in your industry and see what’s going on.
Encourage your clients to check your Instagram to see what’s going on. That’s the beauty of social media.
Important Skill Sets
Ethics is also vitally important. Just like other jobs, you need to learn how to use your tools and what they’re capable of doing and visualizing where you can go with them. But it is also important to work with others.
Surrounding yourself with professionals working in the industry is highly recommended, as they can teach you the most valuable skills you need to learn.
Being an entrepreneur is something that involves having a creative mindset, looking ahead, and being productive. Do not be afraid to test the ideas in your mind. Create tests in the market place and you’ll know which ideas work and which ones do not.
These are the kinds of skill sets you need to develop. Discover what works and how it will work. Start simple, and don’t jump into doing something that is beyond your capabilities right away.
Advantages and Disadvantages of having Employees.
The advantage of having employees is you can do a higher volume of business. But keep in mind that your goal is to make their lives better and your business more profitable. Having employees can allow you to do more complicated jobs and bigger projects, but there is the trade-off in terms of cost.
Additionally, while you can tackle larger jobs, there will be inevitable challenges that accompany having a larger staff. Your employees will requires vacation pay, time off work when they are sick, and sufficient work to keep them busy.
How to Estimate Restoration Projects
Estimating a project differs at any project, but what I do is listed below:
- Using pre-written word doc templates – Having your clients use this template and answer the questions will help formulate accurate estimates.
- Identify all the elements in need of repair.
- Ask for photos to confirm how big the project is, or if it is something you want to do.
- Do not forget to charge the project per hour, including your time spent preparing for the project.
Insurance and Tools
Ensure that you put your a collateral agreement for damages clause in your` contracts and estimation. Problems can happen unexpectedly and damage things. Make sure you and your client have this kind of conversation.
A table saw is one of the most versatile tools in the shop, you can do almost anything and a lot of it. This is the number one tool that most shops end up getting.
Putting wheels on your equipment can be a game-changer. Sometimes you need to reset your equipment location based on the project you are working on. So making the process of pushing and pulling the large equipment easier is a relief.
When you are working with your clients, make sure that you have your expectations and your protocols set before they order. Ensure that everybody is on the same page. Don’t just assume. You need to inform everybody the plan and what’s happening as it happens.
How to Stand Out from the Competition
- Identify unique jobs for your brands.
- Branding is important, It should be unique to you and the culture of your business.
- Be a master of one or two specific disciplines.
- Be very specific and identify your niche.
The biggest factor of business success is not just about the money. It’s not just about the volume of business. It is about how your business can feed your heart, and how your heart can give to your business and your clients.
Do not be afraid to use different tools to put stuff together to make it work the way you need it to work.
If you want to know more about woodworking and carpentry skills check out the following links.
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