Like other business industries, the woodworking business industry makes provision for various small scale business opportunities that can ultimately thrive under it. Some small scale businesses are highly profitable, while others may only provide you with little profits on your investment. However, the great news is that many of these woodworking satellite businesses can be started with little capital. What better way to make some high returns investment with relatively low money?
If you are interested in woodworking and you have been cracking your brain in search of good business ideas that you can start with a low budget with potentially high returns, then you need to pay apt attention to this article. In this article, we will discuss the most profitable woodworking business in the wood business industry. Here is a list of possible profitable business ideas in the woodworking business industry:
- Open a woodworking workshop.
- Wooden Pencil production
- Wooden interior
- Plywood manufacturing
- Beer bottle crate
- Wooden utility product making
- Photo frame and wall art
- Construction woodwork
- Wooden décor item making
- Furniture making
- Sales of woodworking equipment and supplies
- Woodworking project tutorials
- Online woodworking freelancer
15 Ideas To Start A Woodworking Business
Opening a Woodworking Workshop
Often, starting a woodworking workshop usually end up being a profitable business. Owning your woodworking shop will not only allow you to create and sell your unique design but also gives you the room to help others sell their exhibits in your shop. This might bring an extra affiliate income into your pockets. Furthermore, it will offer your customers a wide range of uniquely designed furniture to choose from.
Bookshelves are standard furniture often found in libraries, schools, offices, and homes. The bookshelf is a highly demanded commodity. The bookshelf business comes with specific assurance longevity and profit because consumers will only continue to order it. Thus, it is imperative to note that you should design your bookshelves to your customers’ tastes and preferences. Bookshelf production is a profitable business in the woodworking industry.
Wooden Pencil Production
The pencil is another essential commodity for students and artists. Many stationery shops, tuck shops, schools, art shops often require the supply of wooden pencils in large quantities to match the high demand for the wooden pencil in our society. Therefore, you can take advantage of these market factors and start a wooden pencil production company. With this, you have a higher probability of capping colossal profit as the demand for wooden pencils seems to grow by the day.
Wood is a widespread commodity usually used in decorating houses. Wooden materials are often used in flooring, ceiling, kitchen cabinet, and some other interior work. However, working in this industry requires you to have a wide range of business ideas that support both residential and commercial customers.
Plywood is a type of wood specifically designed to suit interior purposes. It is cheap, and it is used in ships, cars, houses, furniture. One of the most dominant qualities of this wood is its strength and ability to withstand various atmospheric changes. These qualities are mainly responsible for the increasingly high demand for this wood in the current market. The plywood production is one of the top tier businesses in the woodworking business industry.
Beer Bottle Crate
Another item that is highly demanded is the wooden beer crate. Production of wooden beer crate is somewhat simple. However, to succeed in this business line, one must build and maintain a friendly relationship with targeted consumers to make good money and stay in business. Your marketing strategy must be top-notch. Beer sells fast in all local bars and beer parlors. Since the demand for beer in these places is high, all you have to do is a partner with the bars to provide unique wooden beer crates to keep and serve their beers to their customers. It’s a win-win situation for all parties.
Wooden Utility Product Making
Although the demand for steel utility is on the rise with each passing day, some people still prefer wooden utilities to steel. Therefore, it is possible to find good demand for your commodity.
Photo Frame and Wall Art
Production of photo frames and wall arts is among the most profitable woodworking business ideas. The photo frame and wall arts are both interior home decorating items. In this business, you will specialize in producing photo frames for hanging pictures on the wall and placing the photos on the table. It also helps to preserve various artworks on your walls. You will be able to sell multiple wall arts and frames.
Various buildings and other construction projects often require the services of woodworkers. T may be for the interior decoration of homes such as flooring, ceiling, putting cupboards in the walls, cabinets, etc. However, this business thrives best in an area where construction projects are prominent. Also, in this business line, the more people you know, the bigger your profits and the faster your business grows.
Wooden Décor Items
This is another small scale woodworking business idea that has good potentials for high profits. In this business, you can decide to specialize in a specific décor item. You can broaden your scope by making various wooden décor items such as sculpture, toys, pens, plant pot, jewelry box, photo frames, art frames, map frames, etc. Another interesting point about this idea is that despite the massive potentials for high returns, starting a wooden décor business doesn’t require much capital.
Wooden furniture production is one of the significant profitable and fast-growing business ideas in the woodworking industry. Almost every home or building is incomplete without a piece of nice wooden furniture. This renders the demand for this commodity very high, thereby making it suitable for investments. Furthermore, furniture making is a broad niche. Therefore, it is advisable to specialize in one particular Niche. For instance, you can decide to specialize in the production of wooden tables, chairs, beds, cupboards, doors, etc. The choice is yours. Our advice is that you focus on a particular niche, and gradually start to scale your business from there until you are ready for expansion and then, you can now think of adding some other niches.
Also, before you decide on your Niche of specialization, critically examine the area, you intend to establish your business and do a proper feasibility study before embarking on this journey.
Sales of Woodworking Equipment and Supplies
Another exciting business idea is the sales of various woodworking items. This helps you to eliminate or reduce the completion of your market and, as a result, makes your business grow faster. Note that this idea is best brought to life in an area where the woodworking completion is very stiff. Why enter a rigid competitive market when you can take advantage of the market already. How do I mean? You become a sales store for other people’s work. You can choose to purchase unique items produced by your supposed competitors and sell them with a reasonable profit margin. You can start an affiliate network with these woodworking production companies or personnel and earn by commissions.
The wooden candle holder making is a small but lucrative woodworking business idea. It requires little startup capital, and it doesn’t promise you a massive profit in no time. But with patience, you can gradually build this business venture from scratch and turn it into an empire of wealth. In other words, this business is mostly advisable for long term investment plans where you are not in such haste to recoup your capital and start making profits.
Woodworking Project Tutorials
Suppose you are vastly experienced in the woodworking industry or just a specific niche in the woodworking industry. In that case, you can make good money from teaching woodwork to people interested in becoming an expert just like you—creating and selling unique woodwork items is not the only way to earn high profits in this business industry. The knowledge they say is power. Package your business brand very well, then sell your practical experience for good money. You can decide to make video tutorials on various woodworking ideas and publish them on YouTube or create a woodworking business course and enroll students online or offline. People pay to learn in this generation. You can explore that and establish a business model for yourself.
Sell Your Woodworks Online
Another excellent business idea in the woodworking industry is to create your products, advertise them, and sell them online. The internet is the largest and fastest-growing market today. The internet connects you with people who are in constant demand for your products every day.
If you still find yourself wandering about the perfect woodworking business ideas for you after going through this list, here is a list containing some other low-budget small scale woodworking business ideas:
- Wooden pen
- Wooden USB driver
- Wooden wardrobe
- Bangle stand
- Wooden boat making
- Wooden beer mug
- Cutting board
- Wooden business card holder
- Wooden iPod stand
- Jewelry box making
- Woodworking blog
- Outdoor sitting bench
Some Factors to Consider Before Starting a Woodworking Business
Woodworking is an art that has been in existence for centuries. This practice does not require fancy or costly tools to create a masterpiece of your own. All you need is time, focus, and patience. Before starting a woodworking business, you must be well prepared, have a clear plan and goal. These three factors will help you to be productive in the course of your startup.
However, with the majority of businesses today building an internet market for themselves, there are certain things you have to consider before starting a woodworking business. Below are a few factors that you must consider before birthing your woodworking business ideas into life.
Before starting a woodworking business, you need to have sat down and thought about the particular Niche that you want to venture into. You don’t just jump into one specific Niche without considering the productivity in the area you intend to establish your business. Also, focusing on a particular niche helps you grow your business faster because more of your resources are focused on one Niche.
One crucial factor to note before starting a woodworking business is the workspace. Most times, woodworking businesses often require many workspaces, especially if you are into a crafty niche. Having a little space might seem enough at the start, but as your business grows and the demand for your product increases, you might have to expand your workspace. Having known this from the beginning, you have the advantage of preparing for this expansion beforehand. Create a suitable, spacious, and comfortable workspace for your woodworking business. Suitable workspaces allow for easy storage of your products and tools as well as make future expansion easier.
This is a significant factor that most entrepreneurs often neglect. As a woodworker, if you intend to create your workshop far from residential areas, then you might be less concerned about the noise that comes from your workshop. However, if you plan to have your workshop within residential areas, it would be polite to check the noise levels emanating from your workspace. This is because you don’t want to pollute the environment with your noise and make your potential customers feel bad about your business. To eliminate this, you can make use of a soundproof wall in your workshop.
The woodworking industry is one of the fast-developing sectors in the world today. If you are having a hard time getting inspiration on various woodworking ideas, we believe that wit this article, we have opened the gate of woodworking ideas to you. It’s all up to you to decide what you want and how you want it.
Take your time. You don’t need to rush.