The money you’ll need to start a woodworking business , is something you’ll find in your path to make the woodworking a profitable job and live from it . The money “issue” is always a theme when you want to transform your passionate hobby , into a profession to gain money and live from it .

The prices are constantly changing for the woodworking machinery , the country’s taxes , insurance and for your wood’s store bills , the wood prices , the money for rent depending the territory , the advertizing and marketing money .

You’ll need money to supply the best and appropriate equipment , rent a place ( and maybe fix it a little ) , settle the logistics and the first taxes and bills , get your first wood supplies , make your first advertizing campains and this amount can fluctuate from 8.000$ if you’re very strict and careful to 15.000$ and many more .

In here as you see the mentality for the exact money that you’ll need to start a woodworking job , is “liquid” so you have to be flexible and check for the right prices , the exact moment you’re about to open the business .

Of course you’ll need to spend some money for your safety equipment , except your dust collector system . A very good face mask with filters and some mask without filters , a couple of gloves and eyeglasses with some ear protectin , are needed and there aren’t expensive .

You won’t need more than 100$ – 150$ bucks . A first aid kit is also necessary .

What tools – equipment and approach , should i have generally ?

If you want to create a woodworking business , don’t be satisfied buying the cheaper or the medium range woodworking tools and equipment , but buy the best possible when you’re ready to do that .

In my opinion , it’s better to wait a little time more and collect some money more and then start your business , than start with very lower quality equipment . This equipment will give you problems very often , especially working in professional rythms .

The lower quality equipment is more possible to “betray” you in tough situations , than a better quality’s one . This is an “unwritten law” and every professional or not respects it .

No matter how much money you have and can give , nobody wants to lose money from wrong choices and wrong approach .

Step by step Guide and suggestions .

1) Find a place to rent for your store .

2) Begin buying the best possible dust collector system and safety equipment ( gloves , ear – eyes protection , a first aid kit , et.c ) .

3) Continue with your woodworking bench .

I’ve picked some of the best workbench choices in the markets , see them in HERE .

4) Start buying the hand tools and it’s ok if they aren’t the best in that moment . You’ll make adjustments during time .

5) Start buying – collecting the best professional power machinery . I’ve written a post for the power tools complete list and their importance , read it in HERE .

6) Buy your “secondary” auxiliary tools and equipment .

6) Start getting your wood supplies . Basic and not big quantities at first . Remember you have zero clients .

7) Start advertizing yourself and your new woodworking store , in the physical and in the web world . Make some nice advertizing leaflets and some cards and begin to promote your store . All alone at your beginning .

A not too expensive laptop to connect you with the web is needed , around to 500$ is needed of course .

8) Keep some money for your first months , concerning your rent the other bills , your personal insurance and the goverment taxes and of course a good accountant .

This can rise a little bit the ammount above the 10.000$ – 15.000$ , i mentioned before and maybe more than the 20.000$ , but if you start selling woodcrafts , things will be easier .

If you have money to buy only cheaper Equipment , what Priorities you should have ?

If you cannot have the amount of money( it’s a common issue) to get good or medium range equipment to start your woodworking business and you have only very few ( 5.000$ – 8.000$ ) , you should adapt , be flexible and set priorities .

If you cannot have the money to start your new job , this doesn’t mean that you should stop .

The woodworker never stops , in front of obstacles . He adapts and tries to do the best he can , with the money inside his pockets .

Start buying the heavy- duty woodworking tools Firstly and then “climb down” .

Start buying the biggest and more “heavy duty” wood machinery and spend the more money you can afford and then continue buying the more “light” woodworking tools , as the hand tools and the auxiliary ones .

Start buying and speding the biggest amount of money to buy a nice table saw , a bandsaw , jigsaws , circular saws , drill presses , et.c , some basic power tools and then “climb down” to the more “lighter” tools as the hammers , chisels , hand drills , hand planes , mallets , et.c .

Of course some hand tools as the panel saws , a backsaw , a miterbox , chisels , planes , et.c , are important and you’ll supply them , together with the power tools .

You cannot start a business having only power tools .

If you don’t have the money to buy the best quality chisels , do the job with a lower quality ones and later when you’ll find the money , escalate to the more elite ones .

I have an article about how many hand tools you can buy with less than 100$ , read it in HERE .

The above mentality for your first money spending , concerning your expenses will save you a lot of money and help you the first months of your business start .

** Extra tip to save money and invest it to your business :

If you are careful while you’re using your equipment and you follow the exact maintenance actions the manufacturer suggests , you’ll “enjoy” your tools for many decades .

This means that you’ll save money and believe me in your first woodworking business period , you’ll need to save money in the maximum available grade .

Some money you’ll save from the tool’s maintenance , you can invest them in your wood supplies and have very “attractive” product prices , for your clients .

Always keep some money for your first months to pay your electricity bills , your insurance needs , your obligations concerning your country’s/state taxes , your professional accountant and some for the “last minutes” totally random expenses .

The businessman/woman , who wants to survive and become the best in the area he acts , always thinks seriously , plans seriously , acts seriously and waits prepared for the “bad moment” .

Keep Woodworking and your happiness is certain .