While the recession brought with it a well-documented squeeze on small business lending from banks, there are a number of alternative funding sources available to those who are starting or expanding their small business. Loans and/or equity investments can be sourced from multiple sources, including credit unions, savings and loans, and private financial companies. Family members, friends, and colleagues are also potential avenues to explore.
In our Complete Coffee Shop Startups Kit, we spend a good amount of time discussing your health department requisites, your coffee equipment, and even the design of your coffee shop. Since this makes up a significant bulk of your startup costs (equipment, space requirements, etc.), we recommend that you spend an extra couple of hours strengthening your knowledge base with listening to our audio interviews.
However, my guess is around $250,00 t0 $300,000. So as you say you will have a good mortgage to pay for. So excuse me for being nosy. I am retired and I have started setting up my shop in my two car garage. It is not insulated just bare walls and open ceiling. I am going to start doing some projects and will keep watching your shows. I was a Computer Engineer and although I liked my job i always had that desire to get back in wood working and now I am doing just that.
If you don’t have the time (or interest!) in building your own conversion but you still want to give van life a test drive, we’ve got an idea for you! We’d recommend getting a rental vehicle from Escape Campervans. They have 10 different locations across North America and come fully loaded with all the gear you need for an epic road trip. Plus, their rates are fair and affordable.
State Parks/Developed Campgrounds. Every once in awhile, it’s kind of nice to stay at a state park or other developed campground - and a big reason why is that they have showers (and sometimes laundry, too). This is what we’ve done most often when we need a shower on the road. Many state parks also have small day use fees if you don’t want to actually camp there.
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.
Nicole and I decided not to go public with the cost of the build. Although we are very open about most things, we are a little uncomfortable about making an expenditure of this magnitude public knowledge. Furthermore, unless you live in the Phoenix area and plan on building the same size shop with the same patio and with all of the same finishing touches and labor requirements, the price isn’t all that helpful to you.
What about when you’re camping? Well, most campgrounds (including many free National Forest and BLM campgrounds) have some sort of bathroom situation. If there’s not an actual running water bathroom, you’ll typically find pit toilets (aka vault toilets), which are basically much nicer/cleaner permanent porta-potties. We also recommend picking up a good poop shovel for those times you’re camping in a wilderness area without bathrooms.
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.
We did our best to keep costs down, but there was only so much we could do. We needed the shop to go up quickly, which eliminated the prospect of me doing some of the work myself. Additionally, we live in a neighborhood with a homeowner’s association. This means we have very specific restrictions for what we can and can’t do on our property. So the shop must have all of the same finishing touches as our house.
If your shop will be attached to your house or another structure, it will likely need to match its foundation, tying the two structures together so that one does not structurally stress the other if they shift differently. That may dictate a poured concrete or concrete block foundation. Regardless of your foundation type, a cold concrete floor will sap energy away from the rest of the structure if you are not careful, so think about how to insulate it well before you build.
Lease build-out credits – These credits represent the ability for a tenant to make leasehold improvements in their commercial space at the expense of the landlord. These expansions and improvements are necessary for the successful operation of the business. With build-out credits, landlords either offer a reduced rent, reimburse the tenants, or pay directly out of pocket.
A good portable air conditioner will also remove excess water from the air, which is critical for keeping your stockpile of wood in good shape. Lumber should be stored in dry conditions so it doesn’t warp, so look for efficiency features that allow you to run the unit overnight in the summer as needed —without worrying about blowing up your electricity bills. Other good features to consider include a thermostat and variable settings that allow you to set your workshop temperature to the perfect level for your comfort.
If you want to operate your business under anything other than your own personal name, you’ll need to register your chosen ‘fictitious’ name with the appropriate county or state authority, otherwise known as registering your “Doing Business As” (DBA) name. The correct filing authority varies state-to-state. The Small Business Administration (SBA) provides a helpful tool to help you find the relevant authority for your state.
There’s a lot of space above the shelf in most closets. Even though it’s a little hard to reach, it’s a great place to store seldom-used items. Make use of this wasted space by adding a second shelf above the existing one. Buy enough closet shelving material to match the length of the existing shelf plus enough for two end supports and middle supports over each bracket. Twelve-inch-wide shelving is available in various lengths and finishes at home centers and lumberyards.
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.
In a woodworking shop, lumber storage is key, and it’s best to design shelves or racks that are about 50 percent larger than you think you need — you’ll almost certainly acquire more materials as the years go on. To maximize a small space, use walls by mounting shelves to the ceiling and purchasing a sturdy step ladder to help you reach things. A wall covered in standard pegboard and outfitted with hooks allows you to customize hand tool storage and keep your most-used hardware within easy reach.
To experiment with different wood shop layouts, measure your furniture and equipment to sketch onto your plan in different positions. You can also make cutouts of the footprint of your items so you can easily move them around your floor plan to see how best to arrange them. As you do so, don’t forget to leave adequate spacing around tools and tables.
The first step in choosing a business location has little to do with site evaluation. It’s about understanding who your customers are. What kind of people are they? When and where do they work? How do they spend their free time and extra capital? Get to know your potential customers and you’ll have a far better chance of finding both a site and a property that they’ll want to frequent. Once you know who they are, you need to ask yourself if there are enough members of this target demographic near your intended storefront location. If so, what time of day they are most likely to be near your storefront? And, will it be quick and convenient for them to stop in?
Cut the 6-1/2-in. x 3-in. lid from the leftover board, and slice the remaining piece into 1/4-in.-thick pieces for the sides and end of the box. Glue them around the plywood floor. Cut a rabbet on three sides of the lid so it fits snugly on the box and drill a 5/8-in. hole for a finger pull. Then just add a finish and you’ve got a beautiful, useful gift. If you don’t have time to make a gift this year, consider offering to do something for the person. You could offer to sharpen their knives! Here’s how.
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.
For example, on your dual battery, the farm just purchased a brand new 2013 Chevy 3500HD with a dump bed. It has dual batteries. How was it installed? They grounded both batteries to the frame and connected the positives with a very large fuse. ~15k later its still working. While its not recommended to do it this way, I think it would work fine in your case. Add the marine battery somewhere in your shell and run a heavy positive from the original battery. Put a large fuse in it(I’d research to see the number, I can’t remember off the top of my head) and your isolator switch inline (probably 2nd battery side of the fuse).
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.
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!”
When you are looking for small business funding options, be it from the local bank, an angel investor, or even a family member, the first thing you will be asked to present after your business plan will be any existing financial records. Make sure you are putting your best foot forward by keeping meticulous records, with your business finances completely separate from your personal finances.
I looked around at many versions of Taiwanese drill presses. I ended up purchasing the Ridgid DP15501 15" drill press because I liked the way the quill stop was made, the work light, key storage, and the easy access to the belt change system. This machine was also on sale when I needed it, so that made it a slam dunk. Choose the one that suits you, as they’re all very similar. The table is large enough, and the distance to the column is large enough to allow you to do most anything a small shop needs.
However you design it, a loop floor plan surrounds customers with product displays on outer walls, and allows for all types of creative display variations in the center of the store. A loop floor plan works well for most types of small retail stores, such as apparel and accessories, toy, homewares, kitchenwares, personal care, and specialty products.
Ultimate Small Shop is a complete guide to setting up your own workshop, from the planning phase to optimizing it for business. You’ll learn how to put together a complete and functional workshop for less than you expect. Ralph aims to get your shop set up for less than $1,000. Ultimate small Shop includes suggestions on where you can get the tools and equipment needed at the most affordable prices and how to optimize space to get the most out of the little room you have.
It’s also a good idea to cover up any exposed insulation or open stud bays so that you have a flat surface to mount stuff on the walls of your workshop. Here we’re attaching plywood panels to the metal framing but in most garages or sheds you can just nail them directly to the studs. We’re also getting a jump on organizing by putting in a hose reel next to the location we’ve chosen for our air compressor.
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.
They say nobody ever started a small business out of a love for numbers, but if you really want to stay the course, you’re going to want to fall in love fast. It’s only by keeping detailed accounts and tracking your business’ numbers over time, (net sales, cost of goods sold, and average transaction size) that you’ll start to gather the actionable insights you need to make intelligent business decisions.
Hand tools offer your best chance of finding a real bargain. Until the early 20th century, nearly all woodworking was done with hand tools, and their designs and uses have changed little. Most of the high-end planes on today’s market, for example, are just reproductions of the original designs. And because the originals were mass-produced, they are fairly easy to find at rummage sales and antiques stores. (For more information, refer to Matthew Teague’s article, “Buying Old Tools,” in FWW #180).
Because workshops are rough and tumble places, the right fan for the job will have an industrial-strength motor and adjustable fan speeds. Easy-to-clean metal blades and a fully encased motor housing are also important features, especially if your shop tends to fill up with sawdust, wood chips and other fine debris. That extra layer of protection will help the fan motor last for years instead of being damaged by particulates.
Ultimately, your workshop should be a place that inspires you to be creative and to do your best work. When you take the time to plan the space for maximum efficiency and comfort, you’ll love spending time there — and that means you’ll get more done, whether it’s fixing up a car or building a new piece of furniture. No matter how you use your workshop, you should enjoy the time you get to work with your hands and make something brand new. So what are you waiting for? Get started designing your perfect workshop today.
My enthusiasm was kindled and I made friends with Surrey Timbers for more 'exotic' wood. My next purchases were a Drill Press and a Scroll Saw from Axminster Tools and I set to work. An excellent piece of Yew followed by some Thermal Ash has so far produced 4 cribbage boards. I then obtained a Palm Router which, after some practice, I find better for the more intricate 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).
This is a great project if you carefully consider your needs first. I left out the vise and tracks, but had no problem hand picking good 2x4 stock at the big box stores. I did use maple on the top sides in case I ever decided to add tracks, but it was not a budget buster by any means. The cabinet and drawers were a first for me and a great learning experience. I also added retractable casters so I can easily move the workbench around my shop. Love the workbench!
In general, a table saw requires at least eight feet in front and behind to accommodate standard sheet goods and four feet side to side. A work table should provide four feet clearance on all sides, and pathways between tables, benches and storage units should be three feet wide. Proper clearance will allow you to move about with ease while you work.