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.
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To make sure you account for any existing obstructions, it’s a good idea to make a measured drawing of your workshop area on graph paper, noting existing furniture, built-ins and large items on the plan as you go. For example, a common one-car garage workshop layout has built-in tool cabinets and shelves around the perimeter where they won’t impede parking, but you may also have to get clever about folding work tables and saw horses that you can set up as needed in the middle of the garage when you’re working on a project (and cars are parked outside).
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.
Check your local papers, especially the free shoppers, for information about upcoming shows Another venue for craft retailing is at the local flea markets that spring up in every community just about every weekend. Again the entrance cost is usually minimal. Ultimate Small Shop Result The only other thing you need is a little marketing savvy. With little cost and some effort, you will be well on your way to knowing whether there is a market for your craft. Once you know that, you can move on and think about other ways of selling, such as in galleries, on consignment, on eBay or from your own website. Once you spend your precious time and energy creating a scrapbook, make sure it lasts! There are a few simple things you can easily do to ensure that your scrapbooks look just as good as the day you finished them, for years to come. The first thing to avoid is paper that is not lignin-free. You’ve probably heard that before, and it is true, but what is lignin anyways? Lignin is a stiff component of a plant that quite literally holds it together. Although lignin is necessary for plants and trees, you want nothing to do with it! After a while, lignin will cause photos, fabrics and other paper that touch it to turn brown. Yes, the lignin-free paper does cost more, but it is a vital part of preserving your cherished scrapbooks. If the paper is not lignin-free, it will eventually discolor your photos and other materials touching it. So when buying paper for your scrapbooking projects, be sure to look for packages that say “lignin-free,” because if it doesn’t say it, then it most likely isn’t.The fabric is a big concern for preserving your scrapbooks, but unfortunately, it is often overlooked. Many people assume that all fabrics are acid-free, but they aren’t. Silk actually goes through an acid bath during the manufacturing process, as well as many tie-dyed fabrics. This isn’t to discourage you from using it, not all. Just try to make sure that no photos directly touch fabric, and if you need them to overlap, make sure there is a layer of paper between the two. Another consideration when using fabrics is if the color will bleed off onto your page and other things touching it. To test for this, cut a square inch off and soak it in a glass of water overnight. If there is no color bleeding from it the next day, then there isn’t any risk to your scrapbook. But if you do see color in the water, or collecting at the bottom of the glass then don’t use that fabric in your scrapbook at all. When using glitter, be sure there is a top layer of spray adhesive to lock them down, or better yet use special glitter glue where the glitter is mixed right in. If this is not done right the glitter will slowly fall off, and loose glitter means scratched photos. After you have planned the layout for your photos, be sure that you are using the right kind of mounting tape for them! Regular mounting tape is fine for buttons and bottle caps, but when it comes to mounting photos you need to use special photo mounting tape which is completely acid-free. Ultimate Small Shop Member If you don’t, your photos will slowly discolor. The tape should say “acid-free” right on the packaging.
But here’s a quick back-story so you know how things went down. The reason I moved my shop so many times was because the sale of our old house fell through at the last minute. This is the house with the original Wood Whisperer shop/garage. We took the house off the market to recuperate and wait for the market to improve. In the mean time, I decided that I should probably make the best of the shop space that I was already paying for, so that’s why I moved my tools back there. When we eventually put that house back on the market, it sold on the first day. That was a BIG surprise! While we weren’t financially (or mentally) ready to build the new shop, I wasn’t about to lose a chance to get that 2nd mortgage gorilla off my back. So all of our resources went into the sale of the old house and the purchase of my mom’s new place. Truth is, there really wasn’t much left to put toward the new shop. Thanks to some financing wizardry, we made it work. But let’s just say I’ll be paying this off for quite some time!
In addition to keeping your workshop comfortable with climate control add-ons, don’t forget to keep your body in optimal condition as you work. A water cooler tucked away in the corner of your workshop will provide a big quality of life boost and allow you to keep at your projects without having to run to the kitchen for a glass of water every time you feel thirsty.
Boy you guys are spoiled, lol. There will always be at least some echo in the shop. I wouldn’t judge the acoustics based on this video though since the shop was still being put together at the time. No cabinets and no floor tiles, so the echo is to be expected. Have you seen the latest video? http://www.thewoodwhisperer.co.....rock-star/ The sound is dramatically improved over the Dream Shop video and all I did so far was add a few floor mats here and there. By the time the cabinets are in and I get some nice rubber floor tiles in place, the sound should be at least to the level of the old shop if not better. Right now though, my priority is on building a bed and I do consider the current sound to be “acceptable” for web videos. I’ll focus on tweaking things when I finally get some spare time. Considering adding some acoustic tiles to the ceiling.
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.
A great freestanding beverage cooler should come equipped with a thermostat that lets you control the temperature to your liking — the colder the better for carbonated drinks, which tend to taste best when served at a frosty 34 degrees. If you plan to store adult beverages in your cooler, look for a model with a lock to keep your drinks away from children and teens. You’ll also want a model that allows you to reverse the way the door swings when you set it up, as this will provide flexibility in your workshop layout to help maximize your 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.”
Make sure to utilize the tax-specific resources provided by the SBA and the IRS to fully research your federal and state tax obligations. These include, but are not always limited to: corporate income tax, employer tax and excise taxes. For most small businesses, the right first step is applying for an Employee Identification Number, which you can do using this IRS EIN online application. Depending on your state, you might also need to register for a sales tax license.
If you are looking to sell your business, it is important to engage a lawyer who is a business specialist to ensure you gain the best possible valuation. A small business is valued by assessing the potential ongoing income from the business over the coming few years. Normally this means that a business will be valued at three to five times net revenues, which can present a potential issue for particularly tax-savvy small business owners. Remember that every time you write off an expense against your business, you are lowering the net margin of the business. So, that dollar you saved by writing off the expense could cost you three to five dollars on the valuation of your business.
If you want the ultimate vehicle to customize for your DIY van conversion, the Sprinter is the van for you. They have enough headroom even for tall people to stand up, and enough interior space to design any kind of layout. They also typically have diesel engines, which means greater fuel efficiency and engine life (many diesel Sprinters have been known to make it past 400,000 miles). If you think you’ll be doing a lot of off-roading, the Mercedes Sprinter also comes in a 4x4 version.
People tend to buy cargo vans for work and hold on to them for years, so many vans on the market can be pretty beat up. Although you can find inexpensive cargo vans in good condition, it can be tough to find anything with lower mileage - so be prepared for all that comes with owning a higher mileage vehicle. Cargo vans also don’t offer much headroom. There’s no way even shorter people will be able to stand in one, and the lack of headroom also cuts down on storage space.
If you’ve been to gem shows, you know how overwhelming and daunting they can be. Although it’s difficult to narrow down all those tempting options, your jewelry business profit margin will be greater if you plan ahead and focus on shopping for a particular line and color scheme of jewelry. Ultimate Small Shop Online Review You must keep the bigger picture in mind and try to keep your emotions out of the design process. Here are some tips for defining your market and researching it so that you can walk in and out of a gemstone show feeling confident in the business investments you’ve just made. Gemstone shows and fairs are marketplaces for vendors of gemstones, findings, jewelry supplies, and tools. Due to a large amount of competition between the vendors, prices tend to be competitive. I’ve found unbelievable deals on high-quality gemstones and findings at gem shows. To find gem shows near you, you can simply do a Google search for “gemstone show” or “gem fair”. Other sources of information are your local convention and visitors’ bureau and any lapidary clubs in your area. Anyone can attend most gemstone shows. Although you don’t usually need a wholesale license to get in, some vendors may ask for your resale permit before letting you buy at wholesale prices. Show admission fees tend to be in the $5 to $10 dollar range. What market are you trying to target with your jewelry? Don’t try to please everyone. Ultimate Small Shop does it really work Are you trying to appeal to individuals like yourself? What age bracket are you trying to reach? Does your jewelry line appeal to funky or traditional individuals? Next, take a trip to your local department store and take note of the colors that are being used for the upcoming season. Look at the jewelry and observe the lengths of the earrings/necklaces, the sizes of the stones, and the other various style elements for the season. While your designs should not be copies or replicas of the jewelry in the stores, you can simply incorporate the observations you make into your own original design ideas. Fashion and jewelry magazines are also a great place to find out what trends are coming into the stores. There will be an overwhelming array of gemstones and supplies at the show. Having a jewelry line style and color scheme in mind will allow you to narrow your focus. Vendors will offer gemstones in more shapes, sizes, cuts, and colors than you can imagine. Stick to the colors you’ve mapped out for yourself and walk through the entire gem show once before buying anything. Jot down and compare the prices of items that you’re interested in. Then take a break, go outside for some fresh air, and reflect on the items you saw and really liked. Then review your budget and the jewelry line you have in mind before returning into the gemstone show. Ultimate Small Shop Guide Download This will help you get the best deals on the items you’re most interested in so that you don’t blow your budget or become overwhelmed by the options. Soaring through the air, watching the clouds and the birds fly by.
Congrats on a very nice shop. Great video to capture the moments. I too have moved around from place to place (in the Army) and I have to make my shop work with what they give me for a house. I’ve done work out of a tool shed and I make it work becuase I just love working with wood. Once I retire and settle in one spot I hope to get something similar to yours. I’ve picked up a lot of ideas watching this build.
If you have a broker that’s too successful you may be a low priority. If you choose a broker that’s inexperienced but attentive, you may end up paying for their novice mistakes. My advice is to not choose a broker but instead choose a team. Pick a junior/senior combo so that when you’re hunting for space you work more with the junior, and when it comes to negotiating the deal you have the experienced veteran leading the negotiation.”
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.
In all you can spend under $1,000 and be setup in a great workshop. But I know how it feels when you’re shopping for new tools… and you think… “why not buy the top of the line so it lasts longer”… or “may as well get the best while I’m spending money”… those kinds of thoughts won’t only get you into big trouble with your other half… it’s also COMPLETELY wrong.
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Before starting your small business and opening its doors, it is important to take some time to define your end goal. While it almost goes without saying that this goal will be subject to change, it is only by recognizing and clearly articulating your long-term ambitions that you can provide yourself with a compass that will guide every business decision.
We don't have a Dometic CFX-50 in our van, but we wish we had gotten one for our build. This is a great little fridge that many vanlifers happily own. It’s rugged and durable, and it keeps your food cold for less money than many of the other fridges out there. It also has a nifty side-open lid, which makes it a lot easier to open with a lower clearance.
We exhausted our entire life savings on this project and entered into a lot of debt at the same time. And now it’s the ongoing maintenance, repairs, insurance, and upkeep on this rig that make it almost impossible for us to keep it on the road. This is where I’m hoping to get that “let’s sponsor you to travel across America and meet the fans” call from Hasbro or Paramount one day soon.
Though store planning software isn’t a necessary tool for the average small retailer, it can certainly come in handy if you are looking to develop specific planograms, such as for the holiday season or a special event. Store design software is more common for multi-location retailers that want to deploy the same planogram in multiple places. Either way, if you are looking to build planograms, DotActiv offers a handy free tool.
In the summer months, your windows will be one of the primary ways that heat gets into your van. Because of its reflectivity, Reflectix works great as a window covering to reflect radiant heat away from your windows. And, if you’re concerned about height in your van, layering Reflectix under your subfloor is a good way to add a little insulation (R-1.1) without sacrificing headroom.
There’s a reason why some of the biggest players online have names that are essentially gobbledegook: Zappos, Skype, Zynga. While there’s certainly some psychological naming principles that often come into play, at the most basic level, it’s simply easier to find this space online and then strive to own the brand name in the minds of consumers. How important this will be to your small business will depend on a number of variables, including your intended size, location, and your desire to exploit ecommerce as well as a local brick-and-mortar business.
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).
One example is testing your products and services for their desirability through ecommerce. It might turn out that your core product line will actually be much smaller than you originally envisioned. Equally, there are now a number of services (such as storefront.com) that will allow you to secure a pop-up lease in some incredible spaces, often for only days at a time. It might just turn out that your dream location isn’t as great as you originally thought.
If you’re starting a small business for the first time, your new best friends in life should be your bookkeeper and your accountant. The former should be engaged for a few hours every week (especially at the start of your business) to compile your books and ensure your records are maintained to the required standard, while the latter will help review your tax situation and prepare financial statements. Both can also be used as invaluable sources of actionable intelligence about ways to reduce costs, increase margins, and generally streamline your finances.You’ll be able to spend all that time you save doing what you love and thinking strategically about your business.
The router—The router is the master when it comes to flexibility. Its potential far exceeds trimming and decorative edge treatments. A router will cut mortises, rabbets, and dadoes, and adding a router table builds in even more versatility, including biscuit joinery and raised-panel doors. But where the router distinguishes itself from all other tools is in its ability to produce identical parts using a pattern.
Designing your retail store's interior is a topic that we've been looking at recently in an effort to help boutique merchants be more successful and thrive in today's digital era. From telling your brand's story and creating immersive shopping experiences, to putting together head-turning window displays and signage essentials, when it comes to retail, the devil really is in the details. As such, we want you to help you get the basics down pat.
Now this Super Pencil from C.H. Hanson does all of that and more. The entire pencil is made from a non toxic graphite composition so the whole thing is a writing surface with no wood around it to shave away. Super pencil marks are water and smudge resistant and because the composite is so durable it never needs sharpening even when you use it on rough materials like concrete.
Location, location, location is quoted so often for a reason. When starting a small business, the wrong choice could hurt your business before you’ve even had the chance to open the doors. Take the time to really understand your customers and do everything you can to gather real world insights that will help you determine the viability of your potential new space.
Expanded polystyrene (EPS) is an open-celled foam board (think styrofoam) that is the cheapest of all the foam boards. It does work, but we generally don’t recommend using EPS in your van. It insulates less than XPS (R-4 per inch), and the gaps between the foam cells allow moisture to penetrate, which degrades the insulation over time. Polyiso and XPS are much better choices for a slightly higher cost.
Great shop just what you need. You mentioned your lighting was a little thin on the ends of your shop. The best way to lay out rows of lights in an open space like yours is to figure out how many rows you want. Now in your shop six rows would give you a good coverage, so you would divide the length, 60′, by the number of rows, this gives you the space between rows, then divide this in half, this gives you the space from the wall to the first row. For a 60′ room with six rows this would be 10′ between rows and 5′ off the end wall. This will give you consistent light from wall to wall.
Setting up and running a small business is awesome, especially if it’s your first business. Is it tough at times? Yes. But if you don’t build your dreams, who will? In 2010, according to the U.S. Census Bureau, there were 27.9 million small businesses nationwide. This number has trended upwards over the last decade, accounting for 64% of net new jobs created between 1993 and 2011. In a world that appears to be dominated by today’s retail giants, it’s easy to overlook the huge impact that starting a small businesses can have on our U.S. economy. However, these numbers illustrate something that we strongly believe at ShopKeep – that the brave folks who open new businesses are the backbone of the nation’s economy and the lifeblood of our local communities.
We do not recommend using Reflectix to insulate your walls or ceiling. Without an air gap, the R-value of Reflectix is about R-1. Even if you have the recommended ¾” air gap next to the Reflectix, the R-value per inch is less than R-3. There are much more efficient and cost-effective insulation materials out there for these purposes - you’ll be better off filling the space with rigid foam board.
This is where I started thinking about how I was going to store all of my lumber. I had planned on building a wall rack, similar to what I had used in my single car garage. But I hated using up an entire wall for lumber storage. I also knew from experience that I would easily lay stuff against it and soon be digging lumber and junk out of my way. I decided to use the space under my workbench to store the long boards and I realized that by pulling my bench out from the wall I could slide sheet goods behind it. This created a problem: How do I get it out. The Shop isn't long enough to pull out 8 foot boards from inside and I would probably have to move things around to get to it anyway. So my plan for this came at kind of a sudden epiphany moment, when I decided to cut access doors in the front and build my storage into my workbench area. This has been the single best idea that has come out of my shop. I can't express enough how easy it is for me to get straight to a board i need with no hassles. I just remove the doors and pull out what I need. I can store a surprising amount of lumber in this area. I do have a secondary area for some cutoff sheet goods and a scrap bin next to my table saw in the garage. But this area stores most of my lumber.
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.
In our opinion, having one of these is an absolute must for living on the road - especially in humid areas. To fully cover the width of a van’s side doors/back doors, you’ll need a larger screen that’s designed for French doors. If your vehicle has a smaller door opening like an RV, a screen meant for a standard door will work fine. We could only find standard door screens, so we bought two and hot-glued them together to cover up our side door.
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.
If you dream of devoting your life to a cause you believe in, it might be time to start a nonprofit. You’ll need to incorporate your business and file for 501(c)(3) tax-exempt status -- and then you’ll be required to meet ongoing standards of compliance, but the payoff is making a meaningful impact on a cause you believe in. Want to do good while still making a profit? Consider social entrepreneurship.
In order to excel you are going to need to read up on jig building so that you can produce consistent repeatable cuts. Ideas for jigs are a dime a dozen online and you could easily lose a couple of hours browsing the hundreds of ideas people think up. A more economical approach would be to build your jigs as your projects demand them. After you go through that exercise 4-5 times, you'll find you've accumulated quite the collection of jigs without even trying.
It all depends on what you care about most. Putting your kitchen by the side door could simplify refilling your water and propane tanks. Putting it behind the driver’s seat creates a nice, open feel in your van. Right behind the cab makes your van more private, while all the way in the back is a different twist on most van layouts out there. Some vanlifers even have kitchens that pull out of the trunk on drawers for cooking outside.
Great article, Ryan! I love the detailed explanations of the various options for sleeping. I consider myself a veteran “light-duty traveler” who stumbled across some of these things by accident over the years. My needs are different than yours (I’m usually traveling long distances for days and weeks at a time for work or vacation, so I usually don’t hunker down in a base camp very often), but I have a few questions and points to share:
Perhaps the most satisfying move I made was to automate the dust collection system. I used the iVACPro system to link all machines to the dust collector. When I turn on any machine in the shop, the dust collector fires up and whisks the dust into the bin. The system also has a programmable delay to allow the dust to make it to the bin before the dust collector shuts down. I set my system for a five-second delay. The system works flawlessly for my band saw, planer, and router table at 115 volts, and also my table saw and jointer at 240 volts.
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.
Right before you start your small business, everyone has a dream setup for their small business in their head, along with a laundry list of amazing features. It’s probably large and full of natural light, opposite from a park, and filled with beautiful details like a long solid oak counter and a little bell over the door. There’s absolutely nothing wrong with these aspirations. In fact, it’s vital to have a clear vision of what you’re working towards. It can, however become a problem if you let the perfect business location become a barrier to opening your doors in the first place.
Hi Ryan: Nice job on the truck. I also have ’94 Toya 4×4 coffin sleep setup. Looking to change (access cab wanted) and may use some of your ideas. One thing I didn’t see you mention is ventilation. I am from the Mid-Atlantic region(DC/Maryland, you’re old stomping grounds) and ventilation at the New is important. My side windows have screens and I use an old mesh fly with a flexible pole for the rear tailgate area. It works really well. Kinda jerry rigged but is easy to put up and take down as well as pass through for nighttime truck exits. Not needed out west as much since bugs and humidity are lower but can’t live w/out it in these parts.
In each case, we shuffled the bench, jointer, table saw, and band saw across to the top of the stairs, and then tied a rope around each to act as a safety while sliding the machines down the strapping on the stairs. Yeah, the table saw hit the wall, and the promise of a good mud and paint job saved my bacon. The rope worked well, and we were able to get everything down the stairs nice and slowly without any major issues.
It can become very difficult and time-consuming to constantly track the amount and purchase price of all your inventory, but it is hugely important to your bottom line. Every time you catch yourself saying, “Sorry, we don’t have that in right now,” you are leading your business in a very unhealthy direction. Not only does being out of something represent a lost sale opportunity, but in a world where consumers place a huge premium on their time, it could mean that you lose that customer forever while hurting your brand reputation in the process.
Amenities and Services – You’ll want to understand the full range of amenities offered by a commercial space. These amenities and services may include such things as communal rooms, free Wi-Fi, loading bays and docks, dining options, outdoor space, sewage and utilities, on-site security, and more. The zoning of your business will often dictate the type of amenities and services you require.
Evan Tarver is a staff writer at Fit Small Business, specializing in Small Business Finance. He is also a fiction author and screenwriter. His past experience includes investment banking, managerial finance, and technology. When he isn't busy scheming his next business idea, you'll find Evan holed up in a coffee shop in his hometown of San Francisco working on the next great American fiction story.
Sometimes you just know it when you see it. So always be prepared to capture pictures and take notes when you see store features that you’d like to try out yourself. And don’t forget the many online resources out there. Settle down with a cup of coffee and scroll through Pinterest for a treasure trove of store design ideas. Here’s a great board to get you started. Or get inspired by the many hip retail store designs on the Retail Design Blog.
Another flexible option is the portable work tables the guys are building back in our shop. This gives us a work surface that we can move wherever we may need it. Now the main workbench we’ve left a little gap between two of the cabinets for a trashcan or a stool to slip in but we did need to support the countertop where it crosses so Tim and Chris are adding some 1x4s to bridge the space. They’re also putting in a 2×4 inside one of the cabinets where the two pieces of plywood will have to be seamed. Then it’s just a matter of laying in the pieces in place and nailing them down to the cabinet. That trim strip around the edge is mostly for looks but the cedar backsplash along the back will keep us from banging up the wall or getting small items stuck between it and the counter. All in all it started to look pretty good.
Thanks again for the inspiration. I've just finished putting the door on my 12x16 shop. Aside from shingles it is ready for the winter. I've yet to cut out the hatch for the lumber or start on the interior, but at least it's weather tight and I can work on the rest I the coming months. I am planning to use mineral wool bays for insulation to mitigate sound and ease installation. I don't see a way to add pictures to this reply (I'm on my phone), so I'll try to add one or two later.
GoWesty, a well-known Vanagon restorer and parts maker, recommends not buying a Westy unless you have at least $25,000 to spend overhauling it and replacing aging components. Even if you find a cheap Westy hiding out in a garage somewhere, be prepared for frequent breakdowns and expensive mechanical headaches unless you spend the cash to fully rebuild it.
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.
Cut 15 top boards 5 ft. long and rip them to 3 in. wide with a table saw so the top will glue up flat without the typical rounded edges of 2x4s. For the leg slot, cut two of the top boards into three pieces: a 39-in. middle piece and two 7-in. end pieces. Glue and screw the top together, one board at a time, with 3-in. deck screws, keeping the ripped edge facing up and level with the adjoining boards. Use a corded drill so there’s plenty of oomph to drive each screw below the surface. Note that the third glue-up from each end is where each leg notch is inserted. You can also create a nifty tool tray in the top by notching the three top pieces with a jigsaw. Clamp every 8 in. or so before driving in the 3-in.deck screws. Predrill the screw holes near the ends to prevent splitting. When you’re screwing on the 7-in. long 2x4s to create the leg slots, use a scrap piece of 2×4 as a spacer.
A great product line will also reflect a range of price points. For a business that is working hard to convey a sophisticated and elite vibe, it might be a useful strategy to set a high minimum price, but for the vast majority of small businesses, your pricing should be guided by one key thought: I want every single person who comes through my door to be able to find something that fits their budget.