With such an unstable job market and it being harder to get employed, more people are moving into entrepreneurship and being self-employed than ever before. Woodworking is a fantastic business opportunity, but you might feel that you don’t have the space or money to set up your own workshop and sell your goods. If that sounds like you, then you should check out Ultimate Small Shop by Ralph Chapman.
A good starting point here is to write down two or three keywords that you think define your brand and then allow all your design choices to be guided by those words. For example, a local cheese shop could be organic, artisanal, and authentic; a wine bar could be sophisticated, 1920s, French; or a local specialty food store could be gourmet, helpful, natural.
Equity financing is money raised in exchange for a share of ownership in your business. The core benefit of this type of funding is the lack of debt. You won’t have to worry about those pesky monthly repayments. The downside? You are giving up total ownership of your business, you are giving up the rights to a portion of the ongoing profits of the business, and you are potentially giving up some control of how your business is run (Though this is not always the case).
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.