Tight control of inventory, while not a particularly glamorous part of owning a small business, is therefore one of the most important ways you can impact profitability. The good news now is that there is an array of technology available that can make this whole process much smoother, including sophisticated forecasting tools that will help you predict your required inventory levels for each day based on past sales, weather records, and many other factors.
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.
If customers naturally turn right when they enter, and you guide them to circle all the way around, you'll realize that the front left is probably the ideal location for your checkout counter. However, this decision also depends on the size and layout of the store itself, which means you'll have to use your best judgment on the most natural point to have that check-out counter.
Most people know they should document their homes contents for insurance reasons but they often ask why or how to do it the right way. If you have a loss due to fire, theft or a natural disaster your insurance company will need certain details to complete the claims process, including a description of the item, the model number, the serial number the date purchased the color and the purchase price.
Hey Joe, I just hit 178k on my truck. I remember when I started out the first time around it had like 144k or so. They are known to go quite far, so we’ll see how it goes. Maintenance on the road… I just stop at those oil lube places for the most part, and do regular weekly checks under the hood for fluid levels, etc. I’m not too mechanically inclined!
The ARB fridge 50-Qt Fridge is the best of the best. ARB is an Australian 4x4 accessories company, and all of their products are built to withstand just about anything. The ARB fridge is extremely rugged, and features powder-coated zinc steel construction for the ultimate in durability. It can take a beating, and works just fine on inclines up to 30°.
The nomadic truck camping lifestyle has been incredibly freeing, not only is cheap and accessible to most anyone, but it can take you beyond places you even imagined. One book that I’d recommend to all newcomers to this lifestyle is Bob Wells’ How to Live in a Car, Van, or RV, which will help you better understand the ins and outs of this lifestyle.
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.
Another great source of store design inspiration is your product vendors and their line reps. After all, your success is their success, so they’re usually happy to share store design and merchandising ideas. Many provide retailers with free or low-cost branded display units, too. Some line reps will even assist you in product mapping your store, display setup, and replenishment. It never hurts to ask!
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
Excessive growth is of course, a good problem to have. However, after stabilizing from the startup process, small businesses more commonly grow steadily before approaching a plateau. This is completely normal and it is often at this point that you’ll need to go back to your business plan and carry out what is known as a SWOT analysis. This includes an analysis of a company’s current finances, the competition, and SWOT: Strengths, Weaknesses, Opportunities, and Threats. Renovation of your product line, rebranding, and seeking investment for expansion are all potential results of this SWOT analysis. Once again, the key here is being data-driven and always staying hungry. The successful small business owner is always looking for the incremental improvements in their business that when added up, make all the difference.
When starting a small business, many store owners underestimate the value of a persuasive shop design. What they don’t realize is that people are visual creatures. In fact, 90% of the information transmitted in the human brain is visual. Clear, consistent store design will ensure that you attract your ideal customers into your business by delivering a subconscious uniform message.
One of the things that draws me to the online woodworking community is amount of passion people show are willing to share. Your shop build is a fine example of your willingness to let us in on your passion. You could have said “I’ll be back in a few months when its done” and most of us would have waited but instead you turned it in to a summer of updates and dream shop discussion. Thanks!
This will be a personal matter, depending on whether it will be helpful for finishing or sharpening. However, it is a good idea to look beyond your current use of this space to the next owner. Would it be beneficial to add plumbing hookups so that the shop could someday be an apartment, or an art studio, or an extension to your house? It could add to the resale value of your house to be able to create as flexible an area as possible by roughing in a bathroom and even a kitchenette area if you can. If this is done when wall cavities are open or before the slab is poured, your forethought could pay dividends but not cost much up front.
A track saw, such as those by Festool and DeWalt, makes things even easier and offers greater accuracy, but these saws are also quite a bit costlier. With a circular saw, you have to keep the shoe pressed against a guide while pushing the saw forward. Track saws, on the other hand, pop onto their tracks and need only to be pushed forward. Track saws often feature splinter guards to help reduce tearout as well for smoother and straighter edges.
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).
Now that you have written everything out, now take out a calendar that has 12-month blocks and map out each business goal in the corresponding month that it has to be completed by (or accomplished). So you have 12 squares (12 months) and you are literally placing these ideas into the month you want to accomplish them by. By the time you are done with this, you will have a sheet of paper with all your ideas written into the months on the calendar.
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.
Of all the LED lighting options, puck lights are the most difficult to install. You’ll have to run wiring behind the ceiling/walls for each light. And you’ll need to cut a hole with a hole saw to recess the lights into the ceiling. But with some preparation and care it's not too difficult. We have full instructions for installing LED puck lights in our epic electrical post.
Since there’s less wiring involved, installing LED strip lights is much simpler than puck lights. You also won’t need to cut any holes because strip lighting should come with its own adhesive. We’ve seen most vanlifers stick strip lighting down the side edges of their ceilings. However, it’s not as easy to create separate lighting zones as it is with puck lights.
First, try to remove all the extraneous household items that don’t facilitate making stuff. In a perfect world, you wouldn’t have to dig past kids bikes or empty luggage to get to your paint supplies. In the real world though, storage is hard to come by, so you’ll have to give a little to get a little. Consider a line of demarcation in your garage to separate “household” from “workshop.” If you don’t have enough room, consider a smaller-space workbench, or rent off-site storage. You could even build a shed for more covered storage.
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.
We use this fan for extra circulation when it’s hot, and to get the air moving when it’s cold at night and we have all the windows closed. We also keep it on for our dogs while we’re driving. There are cheaper 12V fans out there, but generally the cheaper the fan the more power it draws. The Endless Breeze is a great little fan, and it’s definitely worth getting for the added ventilation.
I set an initial budget of $10,000 to build the shop – everything from studs and drywall to hand tools and machinery. The final number was over by $1,000, but I’m still very happy with the result. The shop is now my haven, with a good sound system and good lighting. Every time I go back into the shop, it is exactly the way I left it, because it is my shop!
Ok, the leap from $1,000 to $2,500 is a big one. I certainly didn't make it at one time. It took me years. But I know folks that decided they wanted to get into woodworking and dropped at least $2,500 getting themselves outfitted. When you do make the jump, the thought process becomes much less about making sure you can get the job done and becomes more about having quality tools to get the job done.
As you can imagine, this collective overflow of dare we say, lack of imagination, has resulted in a surplus of duplicate business names across the country. This wasn’t necessarily an issue until the internet came along. The introduction of the World Wide Web has left small business owners from all over the world competing for the same digital real estate: www.tonyshardware.com, facebook.com/tonyshardware, @tonyshardware and more.
Again, it is the inspiration I have (hopefully) given my son. To never be afraid to try, even at the risk of failure. If you don’t have all the answers, go with the knowledge you do have and trust everything else will fall into place. I am no millionaire; I have entered into a lifetime of debt because of what I’ve done with this build. And I’m going to try and keep it on the road as long as I can. I am not getting any help from Hasbro and Paramount Pictures, so I am looking for help with sponsorships.
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.
Unfortunately, the requirements across the country and across different industries are as varied as the bodies enforcing them. The only way to guarantee that your licenses and permits are all squared away is to seek out regulating authorities on the county, state, and federal level, as well as consult with the relevant industry-specific bodies for your business type.
Hey Melody, thanks for the email. I’ve traveled through some extremely humid areas (Central America)… I’m taking it that your canopy does not have a headliner? That in and of itself helps a great deal. Personally I would be hesitant to put holes or van roof vents in my cap, but that may be what you want to do. I would try sleeping with a portable personal fan first and see how that helps with the condensation issue. For me it worked wonders while sleeping in those hot and humid environments. I ran mine off the inverter connected to my secondary battery.
Nice video Marc. I did enjoy seeing the details of the construction process. Since becoming a homeowner and a woodworker (something that happened literally at the same time) I have become fascinated with anything having to do with the process of building and finishing and all the details in between. I thought of an off the wall question while watching this video and that is do you write yourself any kind of script for any of your monologues and/or narrating or do you just have a general idea of what you want to say and wing it?
Many retailers are also opting for digital signage. While digital signage and display solutions are more of an investment upfront, they allow you to quickly and easily show customers sales, new products, upcoming events, customer reviews, and more. Mira Digital Signage is a popular digital signage option for small businesses that is easy to use and offers affordable monthly payments. Click here for a free demo.
Well, all these years we’ve always planned on this being a nice little workshop, and now’s the time that we’re about to remove all of this and create a nice realistic, practical workshop. Not a TV workshop that just looks good, but one that will be perfect for us to use for some of the projects we have on the show, and again it will be used by our construction company for some of the projects they have.
To mark your cut for the bottom angle on the speaker stand legs, lay the board assembly on the plywood template again, and use the plywood edge to scribe the non-angled end of the board assembly. Be sure to consider which wood species (light or dark) you want on the inside and outside of your finished speaker stand legs, and keep that in mind when making your angle cuts.