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I have three separate income streams for my woodworking business: e-commerce; business to business; and direct to customer.
The e-commerce is not moving at all, which is fine because I am not prepared to do shipping. It is a market that needs to be further developed. Having said that; however, I do sell larger furniture on FB Marketplace.
Over the last two months, we have been focusing on B2B and direct to customer. We have found a niche market in consigning to gift shops (aka collectives) that specialize in retailing handmade goods from multiple vendors. I get regular feedback from the store owners with regards to price, product, and promotion.
Lastly, in the direct to customer side of the house, I do trade shows and craft sales. This is where I get to meet my customers face to face and gain insight as to what they want and why they are buying.
My customers for the cutting boards are 25-40 year old females buying gifts. My market for the furniture is 20 – 30 year old women (mostly because it’s very affordable and I deliver).
The gift-giving market is competitive. I have a great product and add value by providing extras at no cost. I often get requests for engraving, which is valuable feedback so it will be my next investment.
The “why” from last week really resonated. I need to refine that and incorporate it into my marketing. I think it will help differentiate my product from all of the others out there.
Linda, do you do custom work? I have noticed woodworkers I’ve worked with in years past have gravitated towards this being their primary revenue stream. The premade products become useful in getting your brand out in front of many people, but the real money comes from custom pieces. ~Erin.
I can see how e-commerce may be a bit more difficult, but don’t give up! Your B2B plan sounds awesome, it’s always great to get the feedback directly from the retailers. Trade shows and craft sale are great as well, a great place for artisan and custom goods, and the buyers in those places are there for that very reason. Are there any farmer’s markets in your area, and is that part of your direct locations? Engraving sounds like a great new addition to your lineup, do you think you will use hand carving tools, Dremel, wood burning? Keep it up, you’re definitely impressing me!
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