In a previous post, I provided a detailed description of Jim Morgan’s WoodProfits method for those interested in starting a woodworking business. In this post, I pass along Jim’s advice regarding what to build to maximize your profits.
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Below, I have included some of Jim’s advice regarding what to build to maximize your woodworking profits.
If you’re interested in starting a woodworking business, you should check out Jim’s program. These are Jim’s claims, not mine, so I encourage you to consider his offer and decide for yourself whether it is right for you.
What to Build
Woodworking is a great art and hobby that you can quickly turn into a business. To maximize your profits, however, you need to understand that different woodwork projects will have different markets.
For instance, if you are making toys, then your target market should be the parents who have young children. You would be out of place were you to make the toys in an area where the population is dominated by the middle-aged and the elderly.
Similarly, you would not make much money by making garden benches in an area where people hardly have any gardens. With this in mind, you must find the right projects to build in order to make good money.
If you’re trying to figure out what to build, here are some ideas to help you get started.
Toys are simple projects that will not demand much in the way of resources. With just some simple hand tools, you will be able to make good toys.
In addition, you can begin building toys right from your garage. You won’t need to rent a large space. Building toys does not have to require much space at all.
It’s hard to go wrong with toy projects in urban areas in particular because it’s almost always easy to find young families and children there.
Just take a brief survey of most homes that you visit. Do you notice that they have most of their furniture made of wood?
From the coffee table to the seats, many people love wooden furniture. The reasons for the wide preference for wood are many, but one that stands out is money. Wood furniture can provide quality at a good value.
With this in mind, as a woodworker, you should research and find the particular furniture projects that people would not do without. Then meet that need.
Many people have wooden fences. They give the home a more natural look and are relatively easy to install. As a woodworker, you can build fences for customers. You can also offer fence repair for those who need it.
Fences are a frequently overlooked area of woodworking, but one that could prove profitable.
If you’re interested in turning your woodworking hobby into a business, take a look at Jim’s program. Consider what it has to offer you, and make up your own mind. If starting a woodworking business is a desire of yours, you should at least check it out.
You’ll be glad you did.