In today’s competitive business landscape, the key card that small business owners hold up their sleeve is their ability to offer something distinctive, original, and personal. As small businesses grow, however, it can become increasingly difficult for the time-pressed, financially strapped entrepreneur to maintain direct oversight over every aspect of their store.
Do you carry items that bring your customers back time and time again? Consider placing these primary and similar secondary product lines toward the back of your store. Or, if your stock is constantly changing and you don’t carry replenishing goods, place your sale items toward the back. That way, customers must pass your new items and promotional displays on their way to check out the deals in back.
If you have the available time, taking your DIY campervan for a test run (or two) is a great way to identify any problems while you still have access to tools, package deliveries, and a place to work. There’s just a lot that you can’t foresee until you live in your van. Taking it out for some short trips throughout your build will help you understand how you’ll actually use your new living space, what’s necessary, and what’s not.
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Tip: Save money on specialty displays! Many manufacturers offer retailers low-cost or free specialty display fixtures designed to highlight their branded lines, like the one pictured below. These make great speed bump or outpost display units on a tight budget. Your product line reps can tell you if they’re available, plus provide merchandising and display advice.
I didn’t want to get a truck with a million miles on it. I am not a trucker by trade; I got my CDL specifically for this project. I didn’t want to get into a truck and then have to worry about its structure, engine, and transmission—and then start building Optimus on top of it. That’s why I got a brand-new truck custom-built from Western Star to become Optimus Prime.
“Beware suppliers bearing gifts. That ‘free’ refrigerator from the drinks supplier is never really free. You can quickly find yourself tied into sub-optimal deals because of a reliance on this hardware. If you have access to the capital, do yourself a favor: Buy your own fridge and negotiate from a position of strength.” — ShopKeep Founder and Experienced Small Business Owner
Simply get a one-inch drywall screw and drive it into the hole right beside the hook. You want to use a one inch screw because you don’t want to hit the wall behind it and you just drive the screw in until the head of it is tight against the hook, it’ll just act as a shim, and you’ll see once I get this all the way in, it lock the hook in place, and now when you take the tool on and off it won’t come off. The hook won’t pop out.
Wide aisles also prevent the dreaded butt brush, a term coined by top retail consultant Paco Underhill. His studies show that both women and men avoid tight or crowded aisles where they might brush bottoms with other shoppers. Really, this is a thing! Learn more about Paco’s retail research and insights in his book, Why We Buy: The Science of Shopping.
Other than that, you can’t have too much light — especially north light! — and you want accommodations for all the electricity you can imagine. Ceiling fans are a must. A good dust collection system is good, too. Don’t forget to plumb in for compressed air. Do NOT use hard PVC water pipe for compressed air — ever. If/when it breaks or ruptures, it explodes into tiny sharp glass-like shards. I know firsthand. I’ll tell you about it some other time. Think balloon popping!
However, there are some downsides. If you want to customize the interior you’ll have to completely gut the entire thing, which can be a lot of extra work. The weird shape and fiberglass construction of most high tops also make it more difficult to install solar panels, a ceiling, or anything else on the roof. And we’ve also found that some auto repair shops aren’t tall enough to put our van up on a lift - though that’s only really an issue for major work, not routine maintenance.
“Walk past your Decompression Zone and look to your right. The first wall you see is called a Power Wall, and it’s another key merchandising area. And because it’s one of the first things shoppers see after looking or turning right, it’s a perception builder. Use your Power Wall(s) to display important departments as well as new and seasonal items to create vignettes, tell product stories, and to feature high-demand and high-profit items. (Note: Your store has more than one Power Wall. Stand in various places throughout your store and look around—the walls that stand out are your Power Walls.)”
I have different toolboxes for different jobs around the house. Occasionally I’d grab a tool out of one box and then put it away in another. Eventually all my flat-head screwdrivers would end up in one toolbox. To solve the problem, I now mark the handles of the tools and the corresponding toolbox with a band of colored electrical tape. Now all the tools are in the box where they belong. — Kim Litkenhaus Marino
Due diligence is the process of going through the current owner’s books with a fine-tooth comb to verify inventory information, sales data, average ticket price, and every other aspect of the business. Doing all this yourself is difficult and time-consuming, so you’ll probably want to involve accountants and lawyers to ensure that you cross all the t’s and dot all the i’s. A big red flag to watch out for here is how intertwined the current owner’s personal expenses are with the business accounts — this can obscure the genuine flow of cash in and cash out of the business. The purchase price of an existing business is often calculated as three to five times the net annual revenue, so you’ll want to take that figure into account before you make an offer.
Shops have value on many different levels. There is the satisfaction of having a place to create and work on projects that is hard to quantify, but definitely improves your quality of life. There is the value to your small business of having space in which to work wood and thereby generate income. There is the dollar value of the build itself, which will be a considerable investment and, finally, there is the resale value of your property after you’ve added your shop. Before you go too far, though, it’s worth asking a local real-estate agent about the potential return on your investment in your area; generally shops won’t add significantly to the value of your property, so it’s worth thinking carefully about what else the space could be used for if you were to sell. The decision about whether it is worth it to build is a matter of balancing all these factors: projected sales balanced against the cost; the cost of building is balanced against what it will be worth when you sell. Woodworking can be a creative outlet, can give you a sense of mastery, and even be a way to give back to your community by donating beautiful pieces to local charities for fundraising auctions, or creating pieces that future generations will inherit. Ultimately, the value of a shop might come down to the emotional and social returns that it will pay you and the people around you for years to come.
Above all, remember that all of these elements can form part of your negotiation. Unless you are pursuing a highly desired space in a hot rental market, there is usually a point of leverage available to you in every lease negotiation. When it comes to getting the best possible deal in these situations, you’ll want to seek quality professional advice, this will normally include a broker and real estate lawyer.
We think that insulating your van’s floor is worth the minimal extra cost it adds to your build. The best floor insulation is ½” XPS foam board due to its high r-value per inch and its compressive strength. But a layer of Reflectix will add some insulation while taking away less headspace. We used Reflectix, but if we did it again we’d go with the foam board.
There are a number of woodworking fixtures you can get by without for a long while, but a sturdy workbench isn't one of them. The trouble is, those solid-hardwood benches we all lust after can completely blow a modest woodworking budget. Here's a bench that splits the difference. You'll get a top that can stand up to significant abuse, a sturdy, heavy base that keeps the bench planted where you put it, and an end vise and T-track system for holding workpieces as well as a variety of unique jigs. It may not look quite like a European bench, but it works just as hard as one for a lot less money.
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.
2) I haven’t spent very many nights in full on winter conditions (that 12 degree night in Boise comes to mind!), so I can’t comment too much. It was fine for that… Mostly it was hard transitioning from the warmth of the cab to the frigid air while you are shifting things around and getting ready for bed, but then once you were inside the canopy it was fine. Lots of frosty ice on the inside windows, but in my sleeping bag all was well. It stays a little warmer in the canopy. Maybe I’m a wuss, but I didn’t want to spend an extended period of time dirtbagging it in my truck while I was ice climbing (I spent the first two months in Ouray, CO, sharing a rental), I just thought it would be too challenging/miserable to dry and manage gear in a confined space with the shorter daylight hours. I’d be perfectly content doing future weekend trips with this setup though!
If you choose to hire a draftsperson or architect, they may charge you based on the square footage of the area you are proposing, by an hourly rate for their time or as a percentage of the cost of the structure. Costs of building permits will be a percentage of the estimated cost of the structure you are proposing (e.g., $15 permit fee per $1000 or 1.5 percent), or a cost-per-square foot depending on your municipality (e.g., $1.20 per square foot). Design work and permits will both differ depending on the part of the country in which you will be building, so ask the questions as you move ahead. One of the costs that is often overlooked in planning is the increase in annual property tax you will pay once your improved property has been reassessed.
These new companies no longer charge crazy upfront fees, moving instead to what’s known as a “SaaS” monthly subscription model, often with a free trial period. Therefore, the risk of trying a new product is greatly reduced, as you are required to pay little or nothing upfront. Even Microsoft announced in 2015 that they would be moving their flagship product, Microsoft Office, to this pricing model.
Let’s say you’re a Brooklyn-based hipster and you want to follow your lifelong dream of opening your very own artisanal, organic lemonade stand. You’re planning on stationing your retro lemonade stand along a busy road in Williamsburg, Brooklyn. And maybe you want to hire a couple of college kids to collect the money and serve your customers, (probably while wearing some painfully cool 1970s punk band t-shirts). You’re only thinking about it semi-seriously. It might be something you’re going to do when you’re not focusing on your real career as an aspiring DJ.
Tired of the rat race, I opted for early retirement. Looking for something to do with all my free time, Ultimate Small Shop Ebook Free I started crafting and am now making a nice supplemental income from it. As a crafter and a businesswoman, I feel I have some valuable insights into the craft business that I can share with you. At some point in your progression from crafting for fun to crafting for fun and profit, you go from handcrafting individual items for yourself and friends to filling quantity orders for a broader marketplace. That’s the time to take a very business-like approach to your craft business. This needn’t be daunting. You don’t need an MBA or management experience – just a bit of common sense. If you’re going to do this for profit, you need to understand Simple, right? But very few people get it. Look at the high failure rate for new businesses. It takes an effort to be successful, but the task is hardly impossible. Traditional craft retailing methods are what most crafters use to get started. They’re the easiest way, especially if you don’t know if anyone will buy what you make. I believe that there is a market for any well-made craft, whether decorative or useful. The problem facing many crafters is how exactly to go about selling them, or more accurately, finding paying customers. The fact is that there is an awful lot of competition out there. My own business got jump-started by my “circle of friends”. Ultimate Small Shop Free My friends noticed and liked my calling cards and began to ask me to design and make cards for them. Starting with just Broderbund’s Create-a-Card program, I was soon earning a nice supplemental income in just a few hours a week. It probably helped that I was retired and live in an area dominated by retirees. But I think that everyone has a “circle of friends” either socially or at work. Of course, you don’t want to impose on their friendship by making a hard sell, but rather use or display your crafts in front of your friends to see if they draw any interest. If they do and if they’re priced right, you’re on your way to craft retailing for profit. If your “circle of friends” market starts extending to friends of friends, you’re probably ready to tap the general marketplace of craft retailing. Most crafters are aware of the periodic craft shows put on by local groups or even by the local Parks Departments. These usually cost little or nothing to join and should give you a fair idea of whether there is any broader interest in your craft. What better way to jump into craft retailing? There are also organized craft shows that tour the country, Ultimate Small Shop Legit most of which charge an entrance fee for participants.
Chances are if you’re starting a new small business, you’re not afraid of a little risk. However, it’s also highly likely that you have invested a large amount of money in this new endeavor. It is only prudent to take sensible steps to minimize the impact of unexpected events, like the untimely death of a business partner, a lawsuit from a customer or employee, or a freak accident of nature.
For many new small business owners, the additional expense and bureaucratic hoopla involved in obtaining the correct paperwork often leaves them dragging their heels. This attitude, however, can result in stiff financial penalties, or worse, having your permission to do business revoked. Before we jump into the why and how of obtaining your business permit or license, it’s important for you to understand 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.
Before you buy a single tool, you need to take a hard look at your workshop space. If your workshop is a freestanding building or empty barn, you can simply measure the perimeter and know that you have the entire square footage at your disposal including the wall space. If your workshop is tucked into the back of a garage or a corner of partially finished basement, you’ll need to plan your furnishings with cars and water heaters in mind.
I save all my back issues of The Family Handyman magazine and love the projects and repair tips. The trouble is, I’m not always ready to do the project when the issue arrives. To make my favorite articles easy to find at a later date, I put a stick-on label on the cover and then add notes for easy reference when the time comes to do the job. — Willie Schreiber. Plus: Check out this small workshop storage solution. Small woodshop workshop on a budget