Home › Forums › 4. Implement Section Discussion (Feb 20 to Mar 5) › The Costs and Key Activities of Woodworking
- This topic has 5 replies, 3 voices, and was last updated 3 weeks ago by Louise Leslie.
February 26, 2023 at 6:51 pm #3412
Business concept: Custom Woodworking
-Design custom products with Customer
-Deliver product to customer
-Communicate with customers throughout operations
-Market to new customers
-Materials. Lumber, epoxy, hardware, stain, paint
-Fuel/Maintenance of Delivery vehicle
-Sales from Custom Orders
I’m planning on having several other lines of effort in conjunction with the custom orders. I plan on starting with selling smaller wood products on Amazon. This will be a good way to earn get my business off the ground part-time while I’m still employed full-time with the CAF. The funds raised from doing this will allow my to expand my capabilities and skills. I will also list products for sale on my website and direct customers there through marketing (online, social media, and local newspapers). Custom orders will be the primary source of income.
I’m open to suggestions on how to improve this, as well as other ways to diversify my revenue streams.
February 28, 2023 at 6:13 am #3419Erin MelnychukModerator
- This topic was modified 3 weeks, 3 days ago by Kody Greene.
Kody, what kinds of smaller items are you looking to sell on Amazon? How easy is it to mass produce inventory? What might your margins look like on those products?
Erin.March 1, 2023 at 5:54 am #3423
I’ve got a couple of smaller products picked out that I can easily mass produce. They are mostly decor, shelves in the shape of mountains, holiday decorations, and animal cut outs. I think the profit margins would be quite high on these products, however I need to learn more about Amazons fees. I know I can do ‘Fulfilled by Amazon’ where I basically just make the products and ship them to Amazon and they handle storage and shipping from there and take a cut. This would be extremely convenient while I try to get my business off the ground while working another job full time.
I look forward to sharing more of my business model soon,
-K.G.March 1, 2023 at 8:00 am #3425Louise LeslieParticipant
Have you considered instructional videos on some of the woodworking techniques you use or tips you have? Are there too many already doing this? If so, what can you offer to differentiate you from the competition?
LouiseMarch 1, 2023 at 4:03 pm #3426
I definitely have considered this, as well as selling woodworking plans. However I feel like the market is oversaturated already, and the woodworkers I watch on YouTube do such a great job, I don’t see how I could compete with them without sinking a ton of time and money into producing video content.
-K.G.March 1, 2023 at 4:24 pm #3427Louise LeslieParticipant
It would definitely be a huge investment. I’m still on the fence with going down this road for my business.
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