When starting your small business, the type of business structure you choose will depend on three primary factors: liability, taxation, and record-keeping. Most small business owners begin their commercial life as a sole proprietor because it’s the easiest way to get started. In fact, if you’re in business and you haven’t taken any action to incorporate, you are most likely deemed a sole proprietor by default. You are entitled to all the profits of your business but also responsible for all its debts, losses, and liabilities.
If you’re looking to setup a shop equipped mainly with stationary power tools, I’d focus the bulk of your budget on the primary big tools. It’s easier to come up with $10 for a couple of clamps as an impulse purchase, than it is $1000 for a good table saw (TS). Most shops feature the TS, and that’s where I’d focus the bulk of my research and budget, unless you’ll primarily be using a band saw (BS). The biggies for me would be a good full size stationary table saw, planer, jointer, router and router table, and maybe a modest DC (like the HF unit for $150). With those main tools, you can build just alot using dimensional lumber or sheetgoods. A BS and DP are nice, but can be added down the road…in the meantime, a modest jigsaw and handheld power drill worked fine for early on. You’ll want a reasonable work surface, whether it’s a nice bench, or an old door. I’d add a good tape measure, squares, a chisel or two, sandpaper, and some basic clamps, then would add more clamps, block plane, and other extras as you go. (Ask family members for gift cards to Rockler, Woodcraft, Amazon, Lowes, HD, etc….). $3k is doable if you’re selective….the used market can be your friend if the right deals come along.
Commercial law exists for one simple reason: money and trust have a long and storied history of mixing like oil and water. Throughout the millennia-long history of commerce, aspiring businessmen and women have been lied to, cheated, scammed, cajoled, bullied, and otherwise disconnected from every single dime they had by unscrupulous suppliers, greedy investors, and dishonest business partners.
The first is that they will need to be powered by a product catalog. Many times that already exists and an app will just leverage APIs or web services to pull back products. If it doesn't, however, it will require either a custom buildout (beware!) or leveraging platforms like Shopify, Magento, or comparable solutions. The strength of these tools include providing the administration interface to add new inventory, APIs or SDKs, ways to store items in a cart, and similar features. The downsides are that you'll be limited by their workflow and customizations.
Now nobody reasonably expects you to actually hit that exact number in five years time, but the point here is accountability. A really great small business plan forces you to think through your goals, associate a dollar value with each, and articulate clearly how you will make them a reality. By declaring your projected revenue in month seven or your expenses in year five, you are giving yourself a benchmark for success.
The small apparel boutique pictured above really nails these traffic flow details! A roomy entrance offers clear sight and travel lines to eye-catching power walls on the right, and an inviting seating area towards the back. These lure customers into the store with the promise of treasures and comfort within. The shop even has a left-side checkout midway back. Someone really did their customer behavior homework on this retail store layout.
I don’t have recs because I’ve always just gone the traditional cold weather camping route with warm clothes, winter sleeping bag, boiled water in a nalgene, shot of olive oil before bed, etc, etc. Perhaps someone else might chime in… I’ve heard of folks (with the appropriate dual battery setup) using electric blankets, or yeah, the Mr. Propane heater (but not while they are asleep).
Power walls are your go-to spot for hot finds, new items, and seasonal features that attract instant attention and pull customers through the entry area and into your store. These areas are likely going to change frequently and you need to plan for it. Outfit these spaces with versatile displays that can be easily changed to showcase various product groupings.
Buying rough cut lumber saves a ton of money. Buying lumber that has had all four sides surfaced (s4s) will cost roughly 4 times as much as buying rough cut lumber. Let's look at an example: I'm going to build a table that will require 50 board feet of oak. If I buy finished oak it will cost around $5.5 / bf or $275. Alternatively, I can buy rough cut oak at $1.25/bf or ~$65. In this one project I've saved $210. That's enough for a new power tool.
Now also we have some shelves that we built here above this, little cubicles like this work great to organize your workshop so you can have different tools or different supplies in the different little areas. And we’re about to install a very simple countertop. Now this is nothing more than just three-quarter-inch plywood and we decided to stain it instead of painting it, because you know it’s going to take a lot of abuse with all the pounding and the dings, and dents you’ll get in a workbench so staining it and then sealing it with a coat of sealer will probably hold up better than anything else. Now we’ll put another coat of sealer on it after we finish the front edge band and the backsplash and once all of that is complete, boy this thing is going to work nice.
Make sure to run ground wires wrapped around all lengths of flexible exhaust hose to prevent static build up, which can spark and potentially ignite. I chose the King 1.5 HP dust collector, with a 115 volt motor, so I did not need special wiring for it. A shop vac is a must, as well, used to vacuum out machinery, and to remove dust from furniture prior to finishing. Finally, an air filtration system was installed to clear the air of tiny airborne particles. The King KAC 650 unit I installed does a nice job, has a remote control, and a programmable delay – I usually have the air cleaner run for a timed two hours when I leave the shop.