How to Start a Woodworking Home Business

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Learn more about starting a woodworking home business: http://bit.ly/WoodPROFITS

How to Start a Woodworking Home Business

Starting a woodworking home business is a great way to turn a hobby you enjoy into a money-making venture. Wood items are popular and make great decorations and gifts. But starting a business involves more than creating wooden objects. It requires research and planning particularly in marketing and business management.

Step 1
Decide how you want to run your home business. You can make your original designs and sell them or you can take customer orders from customers. Also decide how you’ll sell your items, such as through trade shows, home and garden stores, your own shop or online. You can sell your items through any combination of these outlets, but you need to decide in advance so you can make contacts needed and create marketing materials.

Step 2
Set up your business. The Internal Revenue Service has rules about making money from a hobby versus a business. To make sure your business is viewed as such by the IRS, get licenses and permits as required by your city or county. Apply for a sales tax certificate from your state’s taxation or comptrollers office if you live in a state that collects sales tax. File an assumed name statement if your woodworking business will have a name other than your given one. If you will be creating your woodworks from a home shop, contact your local government about any zoning issues about operating a business from home.

Related Reading: Types of Start-Ups for a Small Business

Step 3
Set up your shop. If don’t have them already, purchase quality tools needed to create your woodworks. Obtain other equipment and supplies needed to run a business, such as a computer, phone and a payment processing system.

Step 4
Market your business. Send out a news release to your local media and online about your woodworking business. Network with home and garden shops, real estate agents and others involved in home decor, furniture or unique gifts to get referrals. Attend trade shows. Advertise in publications and media outlets that your target market reads.

Comments

Christopher Frank says:

Thank you for the referral by the way. I’ve been looking for a guide for
starting a woodworking business like this.

Juan Downing says:

Thank you!

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