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.
Remember the social media networks we asked you to secure in section five, Choosing a Business Name? Well, now is the perfect time to activate those channels. Use social media to build excitement about your grand opening and keep potential customers informed about special promotions and sales. People want to know what makes you special, so tell them why your store or restaurant will be different to what is currently available. From sharing pictures of that new fancy espresso machine or sneak peeks of your store’s interior, you can gain buy-in to your central message and build some anticipation before you even open your doors. Knowing how to to leverage key social channels is imperative to starting a success small business that will stand the test of time.
Sadly, that’s most of my power tools and shop accessories, but it’s a growing collection. Compared to all the money I’ve wasted on small electronics and computer junk in the past, I’d say this has been, and will continue to be, a much better investment. I just wish I had come to that realization back in college, when I was probably spending $500-$1000+ a year upgrading my computer.
“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.”
Low-tech tools are high on value A basic set of handplanes lets you true edges, flatten panels or wide boards, and achieve finish-ready surfaces. Start with a small cluster of handplanes—low-angle and standard block planes, a No. 4 or 4-1/2 bench plane, and a jointer plane. A set of inexpensive chisels is essential for chopping, paring, and trimming.
A business license gives you permission to run a business within a particular territory. It is important to note that not all local governments require you to obtain business licenses, while others only require them for specific business types such as bars or restaurants. To determine whether or not your state or business type requires you to obtain a license visit SBA.gov for state-specific license and permit information.
Can you outfit your shop with all the necessary hand tools for just $100? Christopher Schwarz says you can, and he’ll show you how to do it in this article. Take Christopher’s shopping list to the flea market and come back with everything you need for less than you’d spend on one new hand plane. You can do all your woodworking with hand tools, and this article from Popular Woodworking will equip you with everything you need.
Just as a shed or garage can get stifling in the summer heat, winter cold can also make working conditions difficult — if not impossible. To prevent clumsy, stuff fingers from ruining your projects, you need a way to heat your workshop in even the most extremely frigid days of the year. A traditional residential space heater probably won’t cut it, as these are designed to heat single rooms. For a two-car garage or full basement, you’ll need something much bigger.
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.
If you’ve got 220v, and want to get a seriously good TS, the Grizzly G1023RL is about the best bang for the buck in a 3hp industrial style cabinet saw…$1195/$1294 shipped. It’s not a necessity to have that much saw, but it’s close in price to many lesser saws, and is about all you’d ever need. If that’s more than you can stomach, and/or don’t have 220v, you’re limited to a TS that’ll run on a standard residential 110v outlet….again I’d look to a full size stationary saw. The typical contenders are the entry level price ranges are the Ridgid R4512, nearly identical Craftsman 21833, Steel City 35990, Porter Cable PCB270TS….all under $600. The next step up would include the Grizzly G0661, G0715P, Craftsman 22116 (by Steel City/Orion), Jet Proshop, General International, Rikon 10-201, and Powermatic offerings. These saws all have the potential to perform well…the end performance is largely dependent on how well you set them up, and what blade you choose.
While strolling through the recent entries to our online shop gallery, I spotted some pretty novel designs as well as a couple of fun videos worth taking a look at. From brilliant solutions for tight spaces, to novel repurposing of department store display racks, there were plenty of interesting elements to the eight shops listed in my February round-up. By the way, if you’ve already seen our art director’s video tour of his redesigned garage shop (Mike’s Garage Shop), you can go ahead and skip it. If not however, it’s really worth a look!
Buying rough cut lumber saves a ton of money. Buying lumber that has had all four sides surfaced (s4s) will cost roughly 4 times as much as buying rough cut lumber. Let's look at an example: I'm going to build a table that will require 50 board feet of oak. If I buy finished oak it will cost around $5.5 / bf or $275. Alternatively, I can buy rough cut oak at $1.25/bf or ~$65. In this one project I've saved $210. That's enough for a new power tool.
5. Move beyond shelving. Shelving can be a very effective way to make the most of your wall space, but you can also find more creative, space-saving ways to display products. Instead of a big floor case for jewelry and other small items, Langdon recommends buying an old painting in an ornate frame and stretching the canvas in linen to create a giant corkboard to pin products on. At Poppyseeds, tea towels are displayed on an antique wrought iron headboard propped against a wall. The headboard takes up little space and adds character to the store.
To corral shelf-dwelling books or DVDs that like to wander, cut 3/4-in.-thick hardwood pieces into 6-in. x 6-in. squares. Use a band saw or jigsaw to cut a slot along one edge (with the grain) that’s a smidgen wider than the shelf thickness. Stop the notch 3/4 in. from the other edge. Finish the bookend and slide it on the shelf. Want to build the shelves, too? We’ve got complete plans for great-looking shelves here.
Great website! I spent a summer living out of a ford focus hatchback while road tripping around the United States. The rear seats were replaced with a small platform to store gear and the rear windows were tinted. I enjoyed the freedom that anywhere I parked no one would see me hop from the drivers seat to my platform for some zzz’s. Also no one would guess that someone is sleeping in a 3dr ford focus.
I totaly get not wanting to get into the cost part of the shop. We just went through a house renovation, and my stock answer to the ‘how much’ question is either ‘enough’, or ‘enough that was right for us’. There is a quality of life or utility aspect that every person needs to figure out for themselves. And, I would think not having to bounce around from garage to garage anymore has gotta be worth something!
Couldn’t disagree more. Still got the same setup a few years in. As mentioned the sag is minimal (not non-existent), I place a small removable 2×2 near the tailgate so I can hop up top. You’re not building a home up to code, you’re building a practical truck camping solution, and in my extensive experience it is more than fine. You can do thicker plywood, but realize that it will be much heavier and more cumbersome to move.
I got extra batteries for my cordless tools, but I could never remember which battery was newly charged and which was run down. Now I can easily tell them apart because I painted a number on each battery with my kid’s white nail polish. It dries fast and is— you got it—“tough as nails.” — Tom Baker. Plus: Learn how to double the life of your car battery.
The big advantage to buying a pre-built camper is that it’s already built out, so you won’t have to wait to hit the road. Many feature innovative ways to convert the living space into a sleeping area, and may even include a bathroom/shower. These vehicles should also have electrical, plumbing, propane, and water systems already installed (although if you want solar power, you’ll likely need to add this yourself).
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.
When Julie Owen bought Cocobolo Interiors in 2008, she set about adding more contemporary items to the Armonk, N.Y., shop. But with only 3,000 square feet, she struggled to figure out where to put her expanding line of furniture, lighting fixtures and accessories. Her solution: create sections within the shop and arrange the furniture the way customers might imagine it at home, using low bookcases and folding screens as dividers.
The beauty of a portable A/C unit is that you don’t have to heft it into a window and block off a valuable source of fresh air for keeping paint fumes at bay. Instead, choose a model with a low profile that you can tuck under a table or against a wall when not in use — a model with casters for maximum maneuverability is ideal. Choose a high-powered unit that will condition at least 400 square feet of space and move it where you need it for maximum comfort as you work.
I have to agree with these folks....I have a two car garage/workshop that needs to double for ski waxing, bicycle storage and house repairs. I have a Hybrid Table saw, 6" jointer, 13" planer, a shopsmith that serves as drill press, lathe and band saw, dust collector, two work benches...and everything has been designed to roll away, under, above something else...I can set up and tear down in about ten minutes, because at the end of the day, I always have to park two cars in the garage. Always great to look at the great dream workshops, but thought that they should do an article on guys like us, that have to fit several hobbies into one spot. I seem to spend a lot of time planning, and re planning the garage space to try and fit the next tool. I dream about the day I will get a place that I can dedicate to my tools, but until then, I just buy things with wheels.
At times, while you are starting a small business, it will seem like there is a brick wall in front of you, made up of all the different problems that will occupy your time and mind: a lack of funds, permits, regulations, tax worries, inventory issues, or a lack of customers. Concepts like “free time” and “the weekend” will take on a very different meaning. While the emotional ups and downs of cash flow management and customer service, may drain your will to live.
Now, another thing we’ve recycled that’s kind of unusual, all the wood walls you see here were actually and old backdrop that we used on a show a couple of years ago, perfect for our wood walls we need. Now, to store some of the tools, we have we created this simple little shelf unit out of cedar. And you know it kind of adds some of that warm wood feel to a shop, which I wanted it to look more like this than just plain painted walls.
In an indoor or basement shop with industrial carpeting, lay down inexpensive laminate flooring to make your life a bit easier at the end of the day. Be sure to anchor the panels or place a large rubber mat beneath to keep them from sliding over the carpet. (Covering up your carpet is even more critical if you want to go beyond wood and work with a material such as aluminum in your indoor shop; metal shavings dig into any kind of carpeting and are incredibly frustrating to clean up.)
Even if a website and social media aren’t part of your immediate plans for launching a business, as a savvy 21st century entrepreneur, you want to make sure that you have complete ownership of your brand identity before paying any fees required to register your business. Using the example of The Sunny Rabbit, at the very least, you would want to run an online search to ensure that TheSunnyRabbit.com is available. Assuming you want to join the other 50 million small businesses marketing to customers on Facebook, you’ll also want to make sure that Facebook.com/TheSunnyRabbit is also available.
This is a great project if you carefully consider your needs first. I left out the vise and tracks, but had no problem hand picking good 2x4 stock at the big box stores. I did use maple on the top sides in case I ever decided to add tracks, but it was not a budget buster by any means. The cabinet and drawers were a first for me and a great learning experience. I also added retractable casters so I can easily move the workbench around my shop. Love the workbench!
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.
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A table saw is one of the most important tools in the workshop for its ability to make long straight cuts. It will also cross cut with ease and if you don’t want to cut clean through a board you can adjust the height of the blade to make a dado or rabbet. A handy feature with the BTS10ST table saw is the vertical stand which also saves on storage space.
As Kizer & Bender always tell retailers: Put it on paper. If you haven’t settled on your store layout—or even if you have—the first thing you need to do is work your plan out on paper before you start moving things around in your store. Putting it on paper helps give you a clearer picture of the desired result and any potential issues before getting started. Remember, many small retailers find that a mix of floor plan and layout styles works best.
The good news? There are a ton of free tools out there help you simplify and minimize the research required to secure your online identity. Among them is Namechk, a free username and domain search tool that helps you discover the availability of your business name across hundreds of social networks and domain extensions, all at once. Once you run a name search and confirm that it’s available for use both off and online, take the time secure your unique name both legally and on the web.
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
At $300, the saw is expensive, but it is one of the more affordable saws that offer a 12 inch blade and a double bevel. The double bevel allows you to adjust both the angle at which the blade cuts into the wood and the tilt of the blade relative to the workpiece. Having control over both angles allows much easier cuts of trims and moldings. It's one of those features that you won't use with every project - but when you do need it, you'll be glad you have it
There’s a lot of space above the shelf in most closets. Even though it’s a little hard to reach, it’s a great place to store seldom-used items. Make use of this wasted space by adding a second shelf above the existing one. Buy enough closet shelving material to match the length of the existing shelf plus enough for two end supports and middle supports over each bracket. Twelve-inch-wide shelving is available in various lengths and finishes at home centers and lumberyards.
Now, we’ve already applied some resurfacer to fill up some of the deeper holes and after that dries overnight we’ll use a floor leveling compound tomorrow morning to really smooth everything out. Leveling compound is more fluid than the resurfacer so it flows into all of the low spots to even out the surface. Now, this won’t look like a finished floor when Tim’s done but it should do the job for our shop. Now, while he wraps up this Emily has a Best New Product that might be a great addition to your workshop.
Now we’re using a lot of recycled materials in this project including some kitchen cabinets that were removed some a kitchen renovation project a few years ago and you know this is something that a lot of homeowners do if you’re real careful about removing the cabinets from a kitchen renovation or a bathroom renovation you can use them in a lot of ways around the house and certainly works good for a workshop like this.
I live in Northern Va and have the same concerns. I save those little silica gel packets every time they come in a new product and put them in my tool drawers. I also salvaged a dehumidifier from a neighbor that I need to repair and set up in there. I use the wall mounted AC in the summer to keep it cool enough to work in there. Although I haven't gone back yet to insulate the ceiling, it stays really cool in there if i want it to be.
Now, this is kind of an odd situation here, a few years ago when we bought this building there was a concrete block wall around here and a large drain right in the middle of the floor. Well the drain will certainly come in handy for any cleanup in the shop but the walls kind of left us when we removed those kind of left us a little divot and a little bit of damage here, so to make this nice and smooth so that our rolling workbenches will roll around real nicely we’re having to do a good bit of floor patch.
I know in Missoula the garbage men do not like unbagged dust chips. They sent my friend a warning notice in the mail. Do you pull your drum out to the garbage and let the dust fly or dump it into a bag? My friend has garbage cans with 33 gallon liner which he pulls out of a sealed dust collection box beneath the cyclone… then he uses a hand truck to haul it out to the alley and then puts a fresh can in the box. It seems like a simple dust management method by not handling the dust by either scooping or dumping it out into a bag. I am always trying to think of ways to have less contact with harmful dust particles and I am curious as to how others handle the situation. Have a great weekend!
When leasing a retail space, there is always risks involved. Your goal should be to minimize these as much as possible by considering every angle and asking the right questions. For example, does the landlord intend on erecting scaffolding on the building at any point during the lease? If so, can the rent be reduced to reflect this situation? You will also want to ask to have a clause included allowing you to sublet if necessary, which can be important if you ever find yourself struggling to make payments.
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.
Every aspect of your store should flow from a clear statement of who you are and what you stand for as a business. From the sign hanging proudly outside your store window, to the color of the wallpaper in the in-store restroom, every detail should contribute to conveying your unique purpose and brand to the world. This consistency should also be applied to all your online assets, for example, your website design.
The thing I wanted to mention was that I moved from Seattle to Loveland, Colorado north of Denver in July ’05. I brought my ’01 Dodge Ram 2500 with a 8.5′ Northland Grizzly slide-in camper. It was myself and my 9 year old Black Lab mix Lucy. One thing I had not anticipated was the temperatures here in Colorado. It was 105-106 degrees for the first week I was here. My job was in Boulder, which is known for its “bunny-higher” types. I couldn’t leave Lucy in the camper at the RV park because I didn’t have air conditioning in the camper. I took her to work with me and tied her long rope to the trailer hitch on the truck so she could crawl under it and get into the shade. I also put out plenty of cold water for her that I replenished often. By the afternoon of my first day at my new job I heard rumors that people were going to call Animal Control on me for having my dog outside in temperatures that hot, even though she had both shade and water. I ended up having to leave early my first day so I could go purchase a $600 air conditioner and install it in the camper so I could leave Lucy there during the day and I didn’t have to worry about her comfort.
Gone are the days when you could apply for a building permit based on a sketch on the back of a cigarette package. In provinces like Ontario, design work must be undertaken by an insured designer registered under the provincial building code or by the owner of the property. You can do the drawings as the owner if you can demonstrate effectively through your drawings that your structure will comply with the technical requirements of the building code in a clear and concise way. You will be required to submit detailed drawings, including the following:
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.
Finally, think about the overall color and feel of your workshop. A fresh coat of bright white paint will help your lighting go farther, but you might also consider adding a splash of color for fun. An accent wall or an epoxy floor coating are good ways to upgrade your workshop from drab to fab without adding fussy decorations that will get in the way of business.
One of the best deals on portable power tools, including routers and sometimes planers, comes in the form of factory-reconditioned tools. These are primarily tools that have been repaired at the factory after failing quality inspections or being returned by customers. While they cannot be sold as new, they are identical to new tools in quality and appearance and usually feature the same warranty (be sure to check). Typical savings are anywhere from 15% to 30%, though you sometimes can find even bigger bargains. These tools can be found at Amazon.com and other online tool sellers. It is also possible to buy them through retail stores and, in some cases, directly from the manufacturer’s Web site.
How to Optimize a Small Layout – Not everyone has the room to have a huge shop selling everything. Ralph guides you through making the most out of a small shop layout. This includes optimal machine placement, where to set up shop, the tools needed, and lots of other consideration. The guide walks you through every aspect of setting up your shop – going into details without having it be overwhelming. It’s ideal for beginners that are looking to set up shop.