Once you’ve considered the questions in the previous paragraph, start thinking about how your products/services stack up against the local competition. Because unless you are offering something ground-breaking and innovative, chances are that your potential customers are currently having their needs met by another business. That means it’s going to be your job to convince them that Blue Sheep Bakery is a better option than Bob’s Bake Shop. If your first thought was to compete on price, sorry to break it to you but, that’s not going to cut it. There is more to starting a successful small business than matching the price to the guy down the street.
Hey Marc. Just wanted to send a huge congrats your way for this milestone. It’s been pretty awesome to follow you on this journey since I discovered you on iTunes some 5 or 6 years ago. Mad props for what you’ve done to grow and enhance the online woodworking community as well as woodworking as a whole. I think with todays generation (as well as future generations) growing up behind a computer, the work that you and the rest of the podcasting world do will go a long way towards bringing new people into the craft. I hope that in the future you are able to start a series of videos showing how you introduce Mateao to the craft. Keep up the awesome work!
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
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.
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 more outlets the better! I have a good mix of 220v and 110v outlets throughout the shop. I even included a few in the ceiling and the floor in hopes of avoiding power cords in the walkways. And although this contradicts my previous comments about over-committing, I picked locations that would likely work for various tool configurations. If at some point they don’t work for my setup, I just won’t use them.
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.
A large table saw just isn't a feasible fit in most small shops. But you should be able to get away with at least a portable table saw. Never mind veteran woodworkers who might look down on these compact tools–they're well-suited for many of the smaller ripping and crosscutting operations you'll need to perform. Some of the more compact table saws, such as this 10-inch Skilsaw, are small enough to be stored in a closet or under a table.
At a certain point, you may decide that it is time to move on from your business. Whether you’re winding down a business that just didn’t work out, retiring (and maybe opening that beach bar in Belize), or cashing in on the effort you’ve put into creating a lucrative enterprise, you will hopefully have established your end goal well in advance so that the time to strategically exit will be clear.
Tim Inman: You don’t say where you will be located, but if you are anywhere that gets cold I definitely have a suggestion. I’ve built three shop buildings over my years. In each one, I’ve put down 2-inch closed cell foam board underneath six inches of concrete for the floor. I would never build a shop — or anything else, for that matter — without this. The foam lets the concrete become a huge heat sink and warming stone. My feet are never ever cold when I work on this combination. The shop stays reasonably warm without spikes in the heat and cooling. The tools are more rust-free, and I like it.
I am working hard (or hardly working) on our master bathroom vanity! I spent the whole day in the garage on Monday, but it was such a mess from all the other projects I have been working on, so I spent the day cleaning and organizing instead of building. Now I have a place to build the vanity and this coming week there is nothing going on so I will also have time. I can almost smell the progress!
According to store design experts, this is the part of the process where store owners tend to put the cart before the horse. Once the floor plan is sketched out, store owners are quick to purchase and install fixtures, then fill them with product. Far too often, the fixtures chosen aren’t ideal for displaying a range of products in a particular space. Or worse, they don’t offer flexibility needed in valuable display areas that are constantly changing to house featured and seasonal products.
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.
We think you’re going to find our newsletter and blogs useful and entertaining to read. Because we’re all woodworkers here at Popular Woodworking, we generate a huge amount of valuable woodworking information that we cannot possibly cram into the printed magazine. So the newsletter and community are both great places for us to share what we know with you.
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.
So after 14 years in our previous location, my company moved to a new shop last month. My shop went from 1600sqft split into 2 bays with the kitchen in between to a contiguous 2950 sqft. Still don't know why the the office portion needed to grow by the same percentage when there were already 10 empty cubes at the old office, but thats an argument for another day. The boss got his 500 sqft office so he is happy.
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.
Fantastic build and opportunity for you. I really appreciate your humbleness given the great asset you have in the new shop. You flaunt/market what you do and where you do it because that’s the business you’re in, but at the same time you understand what a great tool you have in the shop itself relative to what most folks will ever acquire. Well done.
Let’s face it, one of the most significant costs of your shop will be its foundation. While you’re at it, what about adding space above your shop? There may be regulations preventing you from building living space above your shop if it is in an urban setting or in an outbuilding, but there may be some flexibility depending on where you live. It is in the municipality’s interests to encourage infill housing that uses existing infrastructure. At a minimum, think about including attic trusses to create some space above your shop for drying lumber or storing equipment. Access could be from simple pull-down attic stairs or from the exterior if you don’t want to lose floor space to a stair or ladder. If you’re creating an addition to your house, you may be able to add a couple of rooms you’ve always wanted, such as a family room, office or in-law suite.
Luckily, recent times have seen a revolution in small business technology. The advent of cloud-based technology has made it possible for a small startup company to build a product and have it used (and paid for) by retailers and restaurateurs all over the world. As a result, the number of companies targeting their innovations directly at you and your small business has exploded, leaving you with more choice and at a better prices, than ever before. For those just starting a small business, this is great! Here’s what else you should know.
For the large square windows near the tailgate I just used those big “magic auto shades” like these, which fit perfectly to cover up those side windows and the back window by the tailgate (I had four in the canopy) and another set up in the cab for my actual window. As for the longer side windows I just used a USPS box, haphazardly stuck up against the window. Nothing fancy.
You’ll also sometimes want to walk a property with a licensed contractor. This is because some commercial spaces require lease build outs, which are necessary additions or improvements to the space. Build outs can be fully or partially covered by the landlord. It’s important in this scenario that you get an accurate renovation estimate and negotiate a build out into your lease.
To simplify this process, hire professionals with experience helping business owners by assessing their needs, developing their budget, and negotiating their commercial lease. Managed by Q is a company that not only assists with pre-lease planning, but also provides help with renovation project management, space planning, and even administrative support. Managed by Q offers an array of services that can help save you time and money. Click here to set up a free account and get started.
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.
Many small businesses in New York and New Jersey were forced to close following Superstorm Sandy because they lacked the insurance that would have gotten them back on their feet. That part is well known. What’s less well known is that this lack of proper insurance, coupled with the lack proper legal incorporation, resulted in many entrepreneurs seeing their personal assets come under threat.
This is the one tool in the shop that provides the greatest opportunity to save money, if you are willing to purchase a well made, light duty machine, and take lighter cuts. In the past I have used General 14" planers that can hog off serious cuts all day long. The problem is that these professional units cost over $5000, and they would crush my buddy as we haul them down the stairs (note: don’t be the guy on the bottom). After doing a fair amount of research, I purchased the Dewalt DW735 13" thickness planer. The unit came with a good manual, and was in a good state of tune. It is light enough for me to carry around the shop without excessive grunting, so that made it very simple to install. The planer has a significant internal fan-assisted chip ejection system. The chips are catapulted out of this planer, so have your dust collector running before you run stock through it. I now have to make more cuts at a lighter cut depth, but I saved about $4500, which makes my budget happy. The planer makes clean cuts, and has two speeds. I don’t see a reason for the two speeds for my type of work, but there is a faster feed rate should you choose to use it. Knife changing is simple and quick.
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.
Plus, taking the time to put pen to paper should benefit you as the small business owner as much as any potential new employee. Creating this kind of central resource about best operating practices will force yourself to formulate your thoughts and be clear about exactly what you want. Whether that means codifying sales procedures or deciding who can take cash from the cash drawer, you’ll have a clear and consistent company policy, something to which most employees will respond favorably.
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.
Inventory management — especially when first starting a small business — at its most basic level consists of counting how many of a given product (let’s say apples) you have for sale in the morning, keeping track of that number, then reducing it by one each time an apple is sold. At the end of the sales day, you count the leftover apples and make sure the number of apples in your inventory system matches whatever you actually have in store. When you have an accurate apple count, you call your supplier and order as many as you need to make sure you have enough on hand for the next day.
Another option to consider is an expensive but efficient Festool dust extractor. These dust extractors are designed to work with other Festool tools, but they also match up with most other brands' compact power tools as well. A nice thing about Festool's vacs is that the hoses dock neatly inside the units. There's almost nothing I value more for a compact shop than self-contained storage.
I have a plastic bed lining on my truck, which also covered the back of the tailgate… I just popped the screws off, took off the plastic liner and drilled holes in the sheet of plywood to match those used by the plastic tailgate cover. Sorry if that doesn’t help you with your setup. But I’m sure you could just drill your own holes in the metal tailgate. Use the plywood cover as a guide for your screw holes…
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!”
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!
The good news is this: You are not a statistic. Think about this — if it was reported that small business owners over the age of 50 were more likely to succeed, would you wait until you were 50 to start a small business? Not likely. You would start when you felt ready. And that’s the point — only YOU can know when it’s time to take the plunge. Likewise, only you can make the intelligent decisions that ultimately mean the difference between success and failure when it comes to launching your business.
Well, I thought about that I don’t want all that dust to kind of infiltrate everything else in the building. So actually instead of putting in some kind of dust collection system, I thought that I would probably just put a nice shop vac here. And then I have room that I can bring some hose back behind this column and then you know if you’re sitting here working on something we can have adapters that go right into a miter saw or right into a sander or have a little outlet more or less to lay up on the counter that would collect all of the dust. And the same thing could happen on any of the work we do out here.
We've written about routers on the site before and my favorite is the Bosch 1617. It is light enough that you can control it when using it handheld, yet powerful enough that it won't have any problems when you mount it under a table. On top of that, it comes with a plunge base which makes it significantly easier to use handheld. The package clocks in at ~$190.
Before you bid in an online auction, check the site’s rules of operation. At some sites, a winning bid is a binding contract, which can be a problem if you can’t inspect the tool before you purchase it. Don’t forget shipping costs. In some cases they can exceed the cost of the tool. Also, make sure the tool you’re buying will run on the power you have in your shop. Many former industrial tools run on 240v single-phase power. If your shop doesn’t have 240v service, you’ll need to factor in the cost of upgrading before deciding to buy. You don’t want to saddle yourself with a tool you can’t use, no matter how good the price.
Many retail fixture and display companies provide store planning and design services to their customers. Though typically not free, these in-house design services can be far less expensive than hiring an independent designer. Plus, they can help streamline the process of store layout and planning, along with the purchasing and installation of displays and fixtures.
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.
“Your sales floor is a living, breathing entity that needs to change—frequently—in order to flourish. It’s the retailer’s job to make that happen. If your store is filled with the latest and greatest products, but your sales are in a rut, it could be because your customers are bored. They come to your store not just to buy; they come for ideas and inspiration. And they come to be entertained—even when they don’t buy anything, that experience is what brings them back.”