While requiring a lot of hard work and dedication, woodworking can be very profitable. There are many ways that woodworkers can turn their skill into cash and some are more time consuming than others. Some are more profitable than others. I will go over all of the different ways you can make money woodworking and ways to boost your income.
How do woodworking shops make money?
One of the more common ways that woodworkers make money is by selling hand-crafted products. However, some of the other ways that you can make money woodworking is by starting a website for woodworkers to sell their products, teaching a woodworking class, selling a woodworking course, and starting a YouTube channel or blog.
Below I will explain all of the ways that you can make money by woodworking but it is important to know that the most important thing for woodworkers to do when trying to make profit is to treat what they are doing as a business.
You will need essential marketing, finance, and business skills to have success no matter your woodworking expertise. You can learn these skills yourself or outsource the skills.
|Selling hand-crafted products||★★★☆☆||★★★☆☆||★★☆☆☆|
|Starting a workshop with employees||★★★★☆||★★☆☆☆||★★★★☆|
|Creating a website for others to sell products||★★★☆☆||★☆☆☆☆||★★★☆☆|
|Teach a woodworking class||★★★☆☆||★★★★☆||★★★☆☆|
|Sell a woodworking course/plan||★★★★☆||★★★★☆||★★★★☆|
|Start a woodworking YouTube channel||★★★☆☆||★★★☆☆||★★★☆☆|
|Make a woodworking blog||★★☆☆☆||★★★☆☆||★★☆☆☆|
|Start a woodworking podcast||★★☆☆☆||★★★☆☆||★★☆☆☆|
|Become a social media enthusiast||★★☆☆☆||★★★☆☆||★★★☆☆|
|Rent out your workspace or tools||★☆☆☆☆||★☆☆☆☆||★★☆☆☆|
Selling hand-crafted products
Selling hand-crafted wood products requires moderate skill and is moderately difficult. The main difficulty is gaining clients and making profit from your products.
Art and small items
You can sell art pieces and smaller items like planters, bird houses, shelves, and table décor.
With smaller items, you may be able to compete with other big box brands but not all the time. For example, you may sell small planters for $35 dollars and big box brands will sell planters for $25-30 dollars.
The issue with selling smaller items is that you will need a lot more clients and sells to generate reasonable profit.
Furniture and larger items
Wood is expensive and we are in an “ikea era” where people would rather buy cheap furniture that they can replace in a few years.
If you sell hand crafted furniture, you will not be able to compete with the big box brands like target and ikea. If you try to match their prices, you will likely lose money.
As a result, if you were to sell hand-crafted furniture, you will need to market to a smaller population who are looking to spend more on real wood furniture. You will then need to justify the higher cost with your skill and the quality of the project.
One of the main issues with selling hand-crafted wood items is that wood is expensive and does not last forever. Many people would rather buy items of other materials that may be more durable and cheaper in cost.
What’s even more selective are the people who are in the market for hand-crafted products. Hand-crafted products are more expensive because it wasn’t made by a machine in minutes.
This may be one thing to consider when thinking of your market analysis and client base. You will need to find the people willing to spend
In all, you do not need a lot of skill to sell hand crafted products. However, you will not make as much profit if you cannot charge as much because the quality is not top tier.
Additionally, it is not very difficult to get started with hand-crafted products but you will have to pick a product to make that is profitable and that has a large enough client base.
Woodworkers can make money by flipping furniture. However, since you are not selling a consistent product, you may not have a consistent demand.
It is very easy to resell furniture. You can find bargain furniture from second hand stores like goodwill and online websites like offerUp.
You can make decent profit for buying furniture for cheap or free, refurbishing, and then selling it. The only issue is that you may not have as many customers as you could have it you sell a consistent product.
Refurbishing products can be a lot less time consuming than creating hand-crafted products. Additionally, the cost of materials will be less but you may have to purchase the item.
The lower time commitment, cost of materials, and the ability to make decent profit can justify flipping furniture even though you will have a smaller market.
One thing to consider when buying second hand furniture is that you look out for signs of infestation. Not only do you not want those bugs getting into your workshop and home but you do not want to sell a product like that to a customer thus possibly tainting your reputation.
The most common bugs of issue are bed bugs and termites. Just make sure you check every section of the product for signs of infestation.
Overall, reselling furniture can be profitable because the time commitment can be lower, cost of materials are less, and you can get decent furniture for cheap or free. You will not have as many customers since your product will be changing.
You should watch out for infestation in the second hand furniture that you are buying to prevent bringing bugs into your workshop or clients home.
Starting a workshop with employees
You can create a workshop with employees to create hand-crafted products. Creating a shop and hiring employees requires that you follow rules and regulations.
You will have a business so you will need to comply with taxes and consider employee benefits. A workshop is inherently dangerous so you will need to follow OSHA regulations..
If you want to have a workshop with more than 3 or 4 employees, you will basically become a businessman/woman. You will need an accountant, finance advisor, and someone to carry out the marketing and other tasks.
Some of the benefits to creating a workshop is that you have the possibility to make a lot more profit.
You do not need much woodworking skill to create a workshop with employees, however, it will be much easier if you have the skills to train, guide, and teach others. You will need to know woodworking safety and best practices to ensure the workshop is mitigating risk of injury.
Some of the downsides to creating a woodworking business with employees is that it is more expensive in upfront cost and is more difficult. You will need to know how to know how to run a business and you will need to consider employee benefits.
You will also have to hire woodworking employees, ensure you are following all rules and regulations, and possibly other employees run the business side of things
In all, starting a woodworking business with employees can be very profitable. You are able to create more products for more clients. Additionally, you yourself do not need much woodworking skill to run the business.
You will, however, need extensive business skills to keep the business running smoothly.
Creating a website for others to sell products
Another way that you can make money from woodworking is by creating a website for others to sell their products.
This requires very little to no woodworking skill at all. Additionally, it is not very difficult to create a website.
You can create a website by using predesigned templates on websites like wix.com. However, it may be more beneficial to have someone create a custom website for your business and tailor it to your needs. Additionally, If you have web development skills, you can create your website by yourself.
Some of the benefits to creating a website for others to sell on is that you can make money when they sell or for how long they list their item. You also do not need to limit your website to woodworking items, while you can if you want.
You do not need much if any woodworking skills to start this site, but you can sell your own hand-crafted items on your site if you wish.
One thing to consider when creating a website is to adhere to all safety protocols like ensuring your website is HTTPS and not HTTP. One of the biggest concerns are hackers and identify theft of those who use your site.
You will need to secure the checkout process and how customer and seller information is stored.
There may not always be legit or trustworthy sellers or buyers. You will want to have a buyer protection plan in place and protocols to protect the seller.
In all, creating a website for others to sell their products is an easy way to make money. This requires very little woodworking skill and your website does not have to be dedicated to woodworkers if you don’t wish.
You will need to make sure that your website is secure from hackers and identify theft, and that you have a buyer and seller protection plan in place.
Teach a woodworking class
Teaching a woodworking class requires that you have a good amount of woodworking and teaching skills.
Hired by a school
One of the main ways that you can teach a class is by being hired as a teacher at a school. To do this, you will likely have to have some form of qualification and work experience. However, you will have a consistent income and more job stability.
Start your own school
You can also teach a woodworking class outside of a formal school structure by marketing to get your own clients. To do this, you will need to build credibility and you will need a shop to teach your students.
This method is much more difficult to get started but you do have the possibility of making much more profit in the long run.
Teaching a woodworking class requires a lot of woodworking and teaching skill. If you get hired by a school, you may have more consistent income, but you will need more qualifications to get started and you may not make as much.
Moreover, if you start your own school, the process will be much more difficult but you can generate more income in the long run.
Sell a woodworking course/ woodworking plans
Instead of actively teaching woodworking to students, you can sell a woodworking course or plans. The woodworking course doesn’t not have to be on building a product. It can be on setting up a shop, starting a woodworking business, or safety for example.
The benefit of creating an online course is that it can be a form of passive income. Once you create the course, you may have to update it every few years but you will be generating consistent income.
The difficulty in creating an online course is that it takes a huge amount of work upfront with little reward.
Additionally, if you are creating a course on making woodworking products, it will require a decent amount of woodworking skill. However, you will not need as much woodworking skill if you are teaching other topic
Start a woodworking YouTube channel
You can create a woodworking YouTube channel to showcase your skill or to teach others.
The pros to creating a YouTube channel is that it is a main platform for how-to, informational, and general videos on the internet. It is also a great way to gain more followers who can then go to your online course or sign up for your online class.
You can make money by having views and ads within YouTube. You can also make money by having a subscription to certain videos or playlists.
Starting a YouTube channel requires camera skills, video editing, and proper lighting. This may be more overwhelming than one may expect if they do not have any background skills. Additionally, a YouTuber will need to have some woodworking skill but does not have to necessarily be an expert. It all depends on how you market yourself.
Make a woodworking blog
You can create a blog just like YouTube channel. Many bloggers have YouTube channels to visually show what they are teaching.
One of the benefits to creating a blog is that you can establish more credibility in the community just like creating a YouTube channel. This can help if you want to sell a product, teach a class, or sell an online course.
You can also make money through affiliate links and ads as well as page views.
Creating a blog can cost very little money up front and only requires average woodworking skills.
Creating a blog requires writing skills. If you are not confident in your writing skills, you can outsource it. However, I recommend against it since it will be harder to teach if you do not have the skills yourself.
Additionally, blogging by itself with ads and affiliate marketing may not generate as much income as other ways to make money. You can make more profit by using affiliate marketing on more expensive items. However, since everyone tries to do this the market is more competitive.
That doesn’t mean you cannot do it, it will just be harder to gain popularity in that market since its slightly more saturated.
Blogging is a good way to gain popularity and credibility within the woodworking space. The downside is that you will likely not make much money from blogging alone. It is best to be used to gain credibility to then create a online product or teach an class for example.
Start a woodworking podcast
Starting a podcast is very similar to blogging and I could have put both of those sections together. The main reason why I kept them separate is because of the different skills that they require.
Podcast requires good speaking skills, video editing, and you to have good video sound quality.
You can make decent money through podcasting and using affiliate links. Podcasting will require consistent uploading like YouTube to keep your audience engaged.
Become a social media enthusiast
You can create a woodworking Instagram or Facebook and become a social media enthusiast to make money. Creating a social media and uploading content is pretty simple. Gaining many followers to make a decent amount of money is more difficult.
However, successful social media enthusiasts can make a lot of money. The social media platform will pay the user directly and the user can have ads on their site.
Additionally, as a social media enthusiasts companies will pay you to take photo shoots and be in ads since it will boost their popularity.
Getting started as a social media enthusiast is very easy, however gaining huge popularity to make a lot of money is difficult. Some areas are more saturated with enthusiasts than others, luckily woodworking is not the worst of them all.
Rent out your workspace or tools
Another way you can make money by woodworking is the rent out your workspace or to rent out tools.
This is especially useful if you do not use your shop or some of your tools that often.
You can rent out your workspace by creating ads on websites like offerup, craiglist, and facebook marketplace.
The benefit to renting out your workspace and tools is that it should cost you no more than electricity and simple maintenance. At the end of the day it is still your shop and your tools that you can use.
The issue with renting out your workspace and tools is that some other people may not take care of your tools or shop like you would. Additionally, your tools will be used more which will result in at least normal wear and tear
When renting anything, you will want to document how the area and tools looked beforehand. Also, you will want to ensure that you have in writing what is and what is not allowed by the renter.
In all, we learned about the 11 different ways you can make money from woodworking. We went over the difficulty of each method, skill level required, and profit margins.
Thank you so much for taking the time to read this article and I wish you luck on your woodworking journeys!
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