Due diligence is the process of going through the current owner’s books with a fine-tooth comb to verify inventory information, sales data, average ticket price, and every other aspect of the business. Doing all this yourself is difficult and time-consuming, so you’ll probably want to involve accountants and lawyers to ensure that you cross all the t’s and dot all the i’s. A big red flag to watch out for here is how intertwined the current owner’s personal expenses are with the business accounts — this can obscure the genuine flow of cash in and cash out of the business. The purchase price of an existing business is often calculated as three to five times the net annual revenue, so you’ll want to take that figure into account before you make an offer.
The more outlets the better! I have a good mix of 220v and 110v outlets throughout the shop. I even included a few in the ceiling and the floor in hopes of avoiding power cords in the walkways. And although this contradicts my previous comments about over-committing, I picked locations that would likely work for various tool configurations. If at some point they don’t work for my setup, I just won’t use them.
Conduction is heat transferred across solid surfaces- think touching a hot stove. It’s also how heat gets out of your van in the winter. The heat inside your van is conducted through the solid surface of your walls and ceiling. Insulating the inside of your van will help prevent heat loss through conduction during the winter, and will also stop your van from conducting the sun’s heat inside during the summer.
This holds a lot of stuff but mainly our handheld power tools, so it needs to support a lot of weight. Any shelf in a workshop will probably wind up supporting more than you initially planned so build it as strong as you can and don’t scrimp on the materials or the fasteners you use to hang it. Now the next step is to install our recycled cabinets that will line the wall under the shelf. Now these cabinets are a little plain but that should work great for a shop like this. Even if you don’t own a remodeling company you can usually find these things pretty inexpensively from salvaged warehouses which recover them from renovation projects then resell them to the public.
We’ve been focused on the first category so far, but there is also an allure to buying an existing business. These enterprises will often come with brand awareness, a customer base, trained employees, an established supply chain, and most importantly (we hope), demonstrated profitability. As a result, countless startup risks can be diminished by taking this route. That is only true, however, if you make sure to carry out thorough due diligence on the existing business.
The way that you fill these roles will depend on the size of your company and how much you’re hoping to invest when building your marketing team.  If, for example, you’re looking to bring on a single marketing employee who will handle all these functions, you’ll need to find somebody with a broad set of experiences and the ability to handle multiple job roles.
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Keep in mind that if you filed to become a corporation or LLC, then you can skip this step altogether. When you form an LLC or corporation for your business, your business name is automatically registered with the state. However, as mentioned before, if you legally registered your name as Bob’s Bike Shop and would like to conduct business using any variation of that name such as BobsBikeShop.com or Bob’s Bikes, you will need a DBA.
Even if a website and social media aren’t part of your immediate plans for launching a business, as a savvy 21st century entrepreneur, you want to make sure that you have complete ownership of your brand identity before paying any fees required to register your business. Using the example of The Sunny Rabbit, at the very least, you would want to run an online search to ensure that TheSunnyRabbit.com is available. Assuming you want to join the other 50 million small businesses marketing to customers on Facebook, you’ll also want to make sure that Facebook.com/TheSunnyRabbit is also available.
Once you know your top priorities, you can start thinking about the space each element can take up and where it should go. It is like putting the pieces of a puzzle together when you're working with a small space, so don't get frustrated if it doesn't work out right away. And know that you'll likely have to make some sacrifices. Play with a few options, and choose the one that works best for your situation.
I think it would work pretty well for a music festival, I don’t see why not. I wouldn’t say it is robbery proof, but generally robbers are looking for quick and easy targets, like a purse sitting on the front seat, just smash and grab. If someone really wanted to rob what was under they platform, they surely could, but they’d need more tools and more time to do so. And they don’t even know if there is anything good under there… I’d like to think of it as a really good robbery deterrent.
When Julie Owen bought Cocobolo Interiors in 2008, she set about adding more contemporary items to the Armonk, N.Y., shop. But with only 3,000 square feet, she struggled to figure out where to put her expanding line of furniture, lighting fixtures and accessories. Her solution: create sections within the shop and arrange the furniture the way customers might imagine it at home, using low bookcases and folding screens as dividers.

If I had it to do over again, I would stick to an entry level miter saw and table saw until I had both the funds and need to upgrade to more capable saws.  Because of this, I'd stick to the two saws we looked at in the $500 build: ​The Craftsman Table Saw for ~$150 and Hitachi 10 inch Miter Saw for ~110.  These two additions bring our running total to just over $500.  
Finally, at the beginning you'll do just fine with a basic set of router bits that run ~$40.  A starter set will typically include straight bits for edge matching material, a selection of edge finishing bits, and some joinery bits.  As you work on a few projects you may find that more specialized bits are needed.   But specialized bits are expensive - so purchasing them as you have a specific need makes more sense than buying in anticipation of a need.
Hi, I have looked through pictures of the shop books. What I am interested in finding is a book with layout design options. I am ready to build a new shop for myself and want to put dust and electrical under the slab. Best layout designs would help me to figure out how to layout a shop that is aprox. 28'x 36'. Is there a book that has this type of information.

Debt financing involves borrowing capital that must then be paid back over a set period of time, most commonly with interest. Typically the core benefit of this arrangement is that you, the business owner, maintains complete control over your business. Your only ongoing obligation is to repay the loan with interest. The downside? Fail to keep up those repayments and the loan — often secured against your assets, savings or property — can put you in very dangerous financial waters.
The first thing to understand about a business plan and financial projections is that the process of compiling them is often more important than the final product. Sure, the actual sheets of paper, filled with spreadsheets and graphs with pretty arrows pointing up and to the right are great — and can be very important in helping you to secure funding — however, when it comes down to the brass tacks of starting a successful business, it’s the process, not the paper, that counts.
In my opinion, the best shop space is a flexible one. I know many folks expected that after setting up my shop so many times, I would be able to design the PERFECT shop space including a finishing room, a dust collection closet, and even some internal walls. But the truth is, the most important lesson I learned over the years was to expect change. My shop is not a static entity. It is more like a living breathing creature that adapts, evolves, grows, shrinks, and changes configuration. Committing to an internal spacial arrangement too early could yield disappointing results. This is why you won’t see me placing dust collection ductwork in the floor. I need to work in a space for at least a few months before I can be confident in my initial setup. Even then, I fully expect things to change at some point. If I made too many restrictive and/or permanent decisions ahead of time, these changes could be difficult or impossible to implement. So my best piece of advice is to forget about the concept of perfection. Instead, focus on flexibility. The ideal shop, in my mind, is little more than 4 walls, a roof, and a butt-load of outlets and lights. So here are some of my basic general goals for my new shop space.
“We believe that we are on the face of the earth to make great products and that’s not changing. We are constantly focusing on innovating. We believe in the simple not the complex. We believe that we need to own and control the primary technologies behind the products that we make, and participate only in markets where we can make a significant contribution. We believe in saying no to thousands of projects, so that we can really focus on the few that are truly important and meaningful to us. We believe in deep collaboration and cross-pollination of our groups, which allow us to innovate in a way that others cannot. And frankly, we don’t settle for anything less than excellence in every group in the company, and we have the self- honesty to admit when we’re wrong and the courage to change. And I think regardless of who is in what job those values are so embedded in this company that Apple will do extremely well.”
Plywood comes in several different types, the most common being pine and lauan. We used ¼” lauan plywood for the walls in our van. Lauan is cheap, it bends easily, and in our opinion its grain pattern looks nicer than pine. Hardwood plywood like birch costs more than pine or lauan, it weighs more, and it’s more difficult to bend. This type of plywood is a great option for furniture, but we think lauan is a better choice for your walls and ceiling.
Great website! I spent a summer living out of a ford focus hatchback while road tripping around the United States. The rear seats were replaced with a small platform to store gear and the rear windows were tinted. I enjoyed the freedom that anywhere I parked no one would see me hop from the drivers seat to my platform for some zzz’s. Also no one would guess that someone is sleeping in a 3dr ford focus.
For years my wife and I had agreed that we would one day leave Oklahoma for someplace we really loved. That day finally arrived last year when we found a home in Vancouver, Washington that met our dreams. Only thing missing was someplace for a woodshop. Well, there was a place, under a deck, but not a room. So, as part of the move we had a local contractor build a room that would one day be the wood shop. Fortunately there was already a door from the house into this area, and about half of the “walls” were there, in the form of concrete retaining walls.

The big advantage to buying a pre-built camper is that it’s already built out, so you won’t have to wait to hit the road. Many feature innovative ways to convert the living space into a sleeping area, and may even include a bathroom/shower. These vehicles should also have electrical, plumbing, propane, and water systems already installed (although if you want solar power, you’ll likely need to add this yourself).


Enter the garage heater. These space heaters are specifically designed to warm up wide open areas and to function under much tougher circumstances than you’re likely to find in the average house. A well designed garage heater will offer at least 5,000 watts of heating power — enough to warm 750 square feet of space. A smaller heater might take off a bit of the chill, but to really warm your workshop — and keep it that way — you’ll need a heater of this size.
In many ways, skoolies are the ultimate in mobile living. The big advantage here is space - there’s tons of room for couches, beds - even a full bathroom - and you can easily accommodate families and other larger groups. There are also some really impressive skoolie builds out there that are nicer than actual houses, and it’s a whole lot cheaper to convert a bus than to buy a similar-sized RV. Skoolies come in multiple sizes, from “shorties” to full-sized buses.
Ultimate Small Shop goes beyond the ambit of Amazon, Home Depot and Lowe’s to help woodworkers start their workshop for less than $1,000. Woodworkers will find answers to questions related to the budget, planning, required tools, critical setup factors and more. The guide has been put together by Ralph Chapman, a coach with more than twenty five years of experience in woodworking. Chapman is the small shop expert and what he recommends is not speculation or best case scenarios. He has done it himself. He is now sharing his experience along with expert recommendations so you can begin your woodworking journey right at your home.

WOW that is a nice size shop! I am looking forward to more videos on the shop projects! We have been shopping for a house for over a year & have finally found one but it has nothing for me to use as my woodshop! I currently have a basement shop that’s 24×40 & it’s really huge for me I couldn’t imagine any bigger. Anyway I will be looking at building a new woodshop for myself (yes I am a female woodworker) & you have given me lots of great ideas so far. I am an Artist & wood is my preference, everything I make is quite small (no furniture or anything that big) but I have lots of specialty tools for what I do as well! Thank you for sharing your ideas & all that you do. Keep up the great work!


Ventilation is extremely important in the rain. These window deflectors allow us to leave our front windows cracked while it’s raining, so we can pull in fresh air and create airflow with our vent fan. As a bonus, it also reduces annoying wind noise while driving on the highway. The Auto Ventshade is fairly inexpensive, easy to install, and makes a great addition to any van (make sure you get the correct one for your specific vehicle).
Meaghan Brophy is a retail writer for Fit Small Business. She has provided content and guidance for indie retailers for years as the editor for Independent Retailer magazine, a RetailWire BrainTrust panelist, and speaker at trade shows such as the Independent Retailer Conference and NY NOW. She has been quoted as a retail expert in Forbes, Retail Dive, Retail Minded, ASD Insider, and more. When not talking retail, Meaghan can be found watching dog videos and practicing her tap dancing skills.
The level of sophistication in a $250 shop is significantly less than a $2,500 shop.  But keep in mind even a $2,500 budget is entry level.  Acquiring a shop full of the perfect tools for each and every job takes a life time.  But that doesn't mean that producing quality work takes a lifetime.  One of the most enjoyable aspects of this hobby is the constant need to solve problems in order to produce good work.

Making sure any holes in your insulation are sealed off and filled helps your insulation really do its job. Great Stuff Gaps and Cracks spray foam insulation is the best way to fill in any space around your foam boards, and to insulate any hard-to-reach spots. You can also spray this into the hollow vehicle frame for insulation (you’ll need a whole bunch of cans for this).
When you’re first starting out, it can be hard to imagine that there are entrepreneurs out there complaining of having grown too fast. But for some, it’s not a problem that’s welcome. For every Ben and Jerry’s, (Ben Cohen and Jerry Greenfield turned a rundown Burlington, VT gas station into an ice cream empire), there’s a Zynga or a Living Social that has enjoyed incredibly fast-paced growth, let their operating costs get out of hand, and then had to engage in mass layoffs when reality hit. If you’re enjoying fast-paced growth, make sure that this is reflected in your operating margins, not just the metric of revenue. You don’t want to be the butt of the old retail joke: “We’re losing a buck on every sale, but we sure are making it up on volume!”
Hi, I have looked through pictures of the shop books. What I am interested in finding is a book with layout design options. I am ready to build a new shop for myself and want to put dust and electrical under the slab. Best layout designs would help me to figure out how to layout a shop that is aprox. 28'x 36'. Is there a book that has this type of information.
Drill four 5/8-in.-dia. 1/2-in.-deep holes on the large disc?inside the traced circle?then use 5/8-in. dowel centers to transfer the hole locations to the underside of the small disc. Drill four 1/2-in.-deep holes on the underside of the small disc and a 1/2-in.-deep hole in the center of the top for the dowel handle. Glue in the dowels to join the discs, and glue in the handle. We drilled a wood ball for a handle knob, but a screw-on ceramic knob also provides a comfortable, attractive grip.
“Every time I’m choosing a new a location, I head down there with a big flask of coffee and a clicker to count all the people that walk past. Then I walk to the nearest public transportation at rush hour and look at how people are heading home. I turned down one location because while it was right next to the subway, I noticed all the commuters were coming out of the other subway entrance. It turns out all the residences in that area were on the other side of the street.” —ShopKeep Founder and Experienced Small Business Owner
Now, photographs or video tape will also be very useful especially to pass along to your insurance adjustor. Now the problem is this documentation won’t help you at all if it’s lost or destroyed so consider saving your information electronically. Take your photos with a digital camera and create a list of all your valuables, and save both in a computer file. This file can be saved to a disk you can keep at work or upload it to a website that you can access it from anywhere including your home.
The level of sophistication in a $250 shop is significantly less than a $2,500 shop.  But keep in mind even a $2,500 budget is entry level.  Acquiring a shop full of the perfect tools for each and every job takes a life time.  But that doesn't mean that producing quality work takes a lifetime.  One of the most enjoyable aspects of this hobby is the constant need to solve problems in order to produce good work.
Leslie recommends that retailers provide some type of seating for both customers and anyone who is accompanying them. Shoppers do get tired and so do their friends and relatives who are along for the ride. Why not offer them a chair? Seating can be as simple as stools near the checkout or a lounge area near the dressing rooms, like this fun setup below:
The good news is that when you’re starting your small business, you now have the tools to take a data-led approach to choosing the right store design. For example: Not sure what type of music gets your customers in the mood to spend? Simply choose a few different styles and display a different one each week. After the test is complete, analyze sales data to help you identify what could be impacting sales. The key to getting accurate results from this kind of test is to avoid switching up the other variables in your store that can impact sales, such as signage, or testing one type of music during a regular business week and another type during a holiday week. For more details on how to create controlled in-store experiments, you can check out Lean Retail 101
I look at these workshops and wonder if I'm the only woodworker that has other hobbies that require shop space. My one car garage serves for woodworking, motorcycle storage and maintenance and home repairs. I have a floor standing drill press, Band Saw, 10" cabinet saw, lathe, 6" jointer, 3 tier tool chest(automotive tools only) 4' workbench, mortiser on a pedistal, grinder on a 16" square storage cabinet, and a roll around 40"x22" cabinet that hold my miter saw, portable thickness planer and other storage. Luckily I have an attached shed where I can keep my dust collector and compressor and have them plumbed into the shop. Right now my snow blower also resides in the shop where otherwise my 450cc KTM off road motorcycle would. I need to step outside in order to change my mind so please stop teasing me with these to die for shops. Paul
You might be thinking your business aspirations are too ‘early-stage’ to merit investigating the permits required to run your small business. You’d be wrong. The costs and requirements of staying on the right side of the law should be factored into your initial business plan and ongoing projections. In the long run, this will save you time, money and heartache.
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