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Business concept: Custom Woodworking
Key Activities:
-Design custom products with Customer
-Build product
-Deliver product to customer
-Communicate with customers throughout operations
-Market to new customersCosts:
-Materials. Lumber, epoxy, hardware, stain, paint
-Fuel/Maintenance of Delivery vehicle
-MarketingRevenue Stream:
-Sales from Custom OrdersI’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.
-K.G.
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.Hello Erin,
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.
Hi Cody,
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?
Louise
Hey Louise,
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.
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