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How To Start A Woodworking Business and Make Money!

Bitner Built Woodworking 79 views

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YOU A NICE MAN THANK YOU SO MUCH 🙏🙏🙏🙏❤❤❤❤🎉🎉🎉🎉 FROM AFRICA UGANDA
Comment from : @NgabiranoRuqayyah

Great informative video! Just came upon your channel recently Love your content and honesty
Comment from : @stevenrfaison1

About 3 or 4 years ago I decided that I wanted to melt and create drawer pulls out of metal so I bought the small foundry that was about $350 along with large tongs and some crucibles (probably $500 or so altogether), and I still have them all boxed up I keep telling myself I can start any day I want lol
Comment from : @agomodern

Justin, I want to thank you for the great video!
Comment from : @RootedInThePastWoodworking

Inconceivable!
Comment from : @charleschi843

Amazing video 🎉brI got a ton of value from thisbrThank you 🙏
Comment from : @shellbelz

Besides different price and materials can this model be used for welding?
Comment from : @ryanlangston439

Great video, much appreciated
Comment from : @MarkHowe-j5e

I derived and took time to go over a friends P&L for his cabinetry company I was honest and took the data as it was presented and he had never heard of a P&L We are no longer friends and his business dissolved within 9 months of opening He disclosed a 21 profit for the time open In actuality he was negative 8 I explained to him that this was great since opening and he would benefit on taxes He was so transfixed on being successful he dove into the delusional end of the pool and got audited on top of it all I just started wood working but I am rooted in business for the past 19 years Your video is spot on
Comment from : @FueledbyBlockchain

How do I download your spreadsheet?
Comment from : @susanbaker1908

Hey thank you for the video, I’m be watching multiple times
Comment from : @EntrepreneurialSpirit85

I really got a lot out of this video - thank you!
Comment from : @hokieinidaho

For saw dust I mix that with my lawn clippings and garden trimming to make nice compost
Comment from : @CrazyManwich

Great video and lots of great points
Comment from : @robertwells1011

God bless you brother, great info
Comment from : @FaithBasedProductions

Suggestion: It would be great if you made a similar video directed to a more general market, such as "How to Start a Business and Make Money!" brbrI'm only guessing, but I'll bet there are a fair amount of people who just see the part about " Woodworking Business" and pass this video by, which is a shame!brbrIt seems a good majority of the information in your video would be relative to anyone who is interested in starting their own business or who has recently started a small business!brbrAgain, just a suggestion
Comment from : @jayedwin98020

I love that you emphasized insurance, folks think they can wait, and since you don't really need it unless something really bad, business ending happens The difference is if you have it, need to use it, your company/personal life live to see another day, if not, well probably notbrSecond to Gen Liability for me is Commercial Vehicle insurance, sure it costs 5 x a personal policy, but and it's a big but, if you are driving/delivering for your business your personal policy is going to duck and cover in a serious accident and you are uncovered and really liable
Comment from : @johnhubbard6262

New subscriber here! brExcellent explanation of everything most people must know and do, but don't Thanks for sharing your knowledge!
Comment from : @4legdfishman

thanks for sharing info and spreadsheet
Comment from : @ltandrepants

Thank you for your advice
Comment from : @djtaurus1000

The part about estimating tool and equipment cost-effectiveness is unrealistic, unless you’re doing repetitive work How much value is there in, say, a premium saw blade? A better way to approach profitability is to make a precise estimate of what your entire shop costs, which includes machines, tools, equipment and utilities Let’s say your shop is valued at $100,000 What you need to estimate is the time it will take your shop to pay for itself Next, you calculate how much money you need to support your personal needs Those two calculations will give you a good idea of how much money you should be making on a yearly basis within a ten-year timeframe span Do the math, and you’ll know exactly how much you need to be making per commission Price your work accordingly, and you’ll be making a reasonable profit from your investment
Comment from : @bethoughtprovoking

hahahah the Bender on the cnc
Comment from : @MaxPatterson-yu7hr

You should spell expenses correctly, if that is the most important part of the video Aside from that, good information
Comment from : @jimfulmer3526

Thanks man, good stuff
Comment from : @3antarAbo-js4wd

Very insightful😀
Comment from : @CameronMcInroy

You're spittin' facts bro! This is 50 of my Bis degree in 1/2 and hour
Comment from : @J_Quinn_Creates

I'm so very happy to have found this video Far more informative and applicable than other "how to" videos on this topic This will save me so much headache I don't like and sub very often but you have earned my like and sub This is invaluable information
Comment from : @JEddieT

The everyday items your gonna use like glue, router bits that your wondering about how to charge Automotive tools add a shop supplies on the work A percentage of total sale Like add 4 before tax
Comment from : @NewfieRC

I'm starting a woodworking business and have been doing a ton of research This is the best video I have found yet Great job!
Comment from : @billbrasky9629

On expenses, there are meters you can get to more accurately find out what your shop is using separate from your home
Comment from : @travisjohnston1923

Thank you so much I'm working on starting my own business and you are a big helpbrbrLove it how you explain everything so calm and clear No jumping around, screaming, loud music or annoying special effects Just explaining how it all works Thank you, you have a new subscriber
Comment from : @PuraVetus

This video was soo informative! I am partnering with my wife to scale my woodworking business in NYC, and these insights are a great foundation for us to get started Thank you for taking the time to create this and share your knowledge with us!
Comment from : @lordseitsemas3867

SO much value in this video Thanks for the insight!! Calculating costs being the most important thing in pricing a product seems so obvious but easily overlooked
Comment from : @baddogcreative

This video has answered so many questions I've had as a beginner woodworker that's trying to turn my hobby into a decent side hustle(for now) thank you so much for this video
Comment from : @tapanddestroy

A way to think about this is if you hired an employee to do all of the work you are doing at market wages and deduct that cost from your previous profit calculation If there is a positive number left over, that is how much your business is earning The rest is the value of your labor
Comment from : @randallsmith7885

I am not selling anything yet But I am amazed at how many board feet of hardwood needs to be purchased, versus how much ends up in the finished product I waste a lot of wood - maybe 50
Comment from : @randallsmith7885

You are a great resource my friend Thank you
Comment from : @FEARMENOT1975

What was your $15…$12k project?
Comment from : @kyleybarra1830

Excellent information, but it’s the bender cnc that earned my subscription lol😂
Comment from : @charleyjeffrey3261

@BitnerBuilt thanks for the lessondefinitely sharing this good advice! It can certainly pertain to alternate businesses
Comment from : @fdort3971

I am a former banker and finance guy brReally sharp on running a business Very well presented Cheers!🥂
Comment from : @dennisdye2330

Kudos on the video, definitely one of the best ones I've came across Thank you for all the great advice
Comment from : @JamesLunsford-w5k

Mr Bitner do you have any advice on building a business plan? Sole Proprietorship/LLC steps for first time woodworking business owner Fear of failure is a big factor for me right now How do manage stress running a business? My shop is almost done just putting finishing touches on it
Comment from : @Squints86

Nice Cnc Router enclosure
Comment from : @Squints86

Thank you for being real!
Comment from : @grantpeckford8082

my price is simple 10 times my material
Comment from : @danielgimenez8561

Justin - I have to say this could be the most important video at my stage in life at this moment Like you, I have been self employed or a contractor all my lifebrI see an opportunity at this time in my life, I am on a good pension however I want to keep active, and a business that has a product range which I use needs a representive to go out to its consumer base and promote its business brSo I have been putting a presentation together to become that person Will I succend - well I have nothing to lose Will I succeed Of course ! brMore to follow Your video made it possible Ohh! Its got nothing to do with wood workIts to do with business Well done
Comment from : @geoffprotheroe1201

This was by far the best small business starter video I have ever seen on YouTube He somehow managed to put all of the most important aspects of starting/running a business in a video without useless jargon And it was explicit, spoken in everyday english and no vague platitudes Everything he said can be applied to any business, large and small I have read so many business starter books that have so much "filler" information and still didn't give half of what he said Great video!!!
Comment from : @rpols22

I am watching this video from a reverse perspective, I'm an entrepreneur and I do government contracting for my day job while learning the art of woodworking I can honestly say for people looking into the beginnings of turning hobby into business, this is one of the better videos out there brbrAdded benefit to keeping a cost calculator, you have an itemized reference to point to for justification if the customer is contentious about worth It's easy to want to take from your profits, as you mentioned, but better to articulate to a client with a professional cost sheet than waving arms around saying "I can might do it for this" This is an easy way to turn skepticism into loyaltybrbr10/10 video, easiest subscribe ever
Comment from : @PowellTimberWorks

Good intro Subbed
Comment from : @TimHoundDog

I like this type of clear plai text - thanks The dropbox - link to the Excel Version of the Worksheet is no longer funktional You may give me a new link please?
Comment from : @hoimark6932

This is a really great video not just for a beginner GOD bless you !
Comment from : @ionutonea1537

Fantastic video, probably the best woodworking video I've watched all year! Would you do a video on how to start shipping larger furniture and projects for a beginner with no business experience? Call freight shippers or UPS/Fedex or bring the item to their location?
Comment from : @macmcham2316

Its hard to make it real hard You need to make thing that sell but not be easy to copybrPolished video well done
Comment from : @kdcustomwoodworking

I have had 3 buisineses and have had employees, but each failed like you've said Like your video, please give the names of the brbooks to read🤣
Comment from : @CameronMcInroy

Thank you for sharing, YouTube needed a good cost breakdown video, it's almost non existent I've been thinking of getting more serious with woodworking and this video is a great help
Comment from : @Realism91

Great video thank you for making it ! New sub here!
Comment from : @AMAYERICAN

Excellent video I would add the business owner needs to account for the income tax due on the additional income This is a cost of doing business Thank you for taking the time making this video
Comment from : @BobMcKinley-n6z

I’ve been doing casual woodworking for 15 years, watching YouTube videos about woodworking for 10 years and working full time in carpentry for 5 years after a career in finance So I’ve read all the books, subscribed to all the magazines and maker channels Anyway, you’re putting out great videos and I hope you keep it up Small short organization, business centric videos, it’s all helpful content
Comment from : @sail4201

Thanks alot Justin, I just finished College and I want to start a woodworking business because I enjoy it You really shed light on how to handle my expenses which for me was something hard I can't tell you how timely this video is Sure gonna be here to learn more from you!
Comment from : @victorgithinji7785

Very helpful, holy smokes I also like that you didn't drill down on like choosing an hourly rate for yourself and rather do weighted multipliers based on difficulty of the task Super interesting and I will certainly consider this!
Comment from : @azeemqwerty

just curious, as a entrepreneur do you take questions about the business? I have started within the last week building Adirondack chairs as a side hustle
Comment from : @jefflowe8803

Oh Jesus that $5 coaster cost me $300 to make ha just kidding Some solid advice Justin Just found your channel but looking forward to more and maybe bouncing some things off of ya with regards to growing my dad used to say when you think you need a bigger blah blah wait 6 months and look at it again Jim
Comment from : @celticcraps

Lots of good stuff in there Not so sure about the material cost multiplier approach Materials cost, labor hours, and labor rate based on task complexity might be more accurate
Comment from : @normbarrows

New subscriber from Melbourne Australia 🇦🇺
Comment from : @essendonhennessey

You’re a crack man, truly, thanks for those advices and tip Good vibes!
Comment from : @qzll333

You have become my favorite video maker, and your business experience/knowledge explains why and has become quite evident
Comment from : @stevenaoliver2341

WOW i could watch this again and again----very informative and educational-----no BS just the facts mam----a real dose of reality thanx for THE great info rick
Comment from : @rickkinney1249

Everything has its opposite, we must remember death so that we can understand the value of life and seek to prepare for death in the best way possiblebrWe must remember sometimes, including myself firstbr-translation text
Comment from : @Liex09

Hey Justin, Great informational video on this topic I will soon be getting ready to start and this helps fine tune my EXPENSES What state are you in?
Comment from : @thechallengedwoodworker5283

I notice that most of your tools are the same color red as Baur from Harbor Freight, and the drill press haw a W on it, hinting to me that it's a Wen If so, would your philosophy be buying inexpensive things way to go Is this the case? I ask because although I have some expensive stuff, I also buy the cheaper stuff, like Skil and I don't notice any difference I guess the price may have something to do with longevity?
Comment from : @henrydiaz720

Excellent video and advice!
Comment from : @joemissanelli3395

9:45 I’ve just been adding $50 to every job over $500 so I don’t need to spend time calculating a dollar her and 50 cents there Working for now
Comment from : @alexm1841

Thank you for breaking it all down You make it easier to understand the steps and processes needed
Comment from : @Orion9993

Great video; information layout and quality of information Many thanks
Comment from : @vegetarianhunterable

As a former plumber that used to handle jobs and estimates, you are spot on with this video and I hope everyone takes it to heart especially some of the “small” things like insurance for anyone inside your shop One injury can wreck multiple lives
Comment from : @liquidrockaquatics3900

You did great job explains it I watched every second of it Thank you so much
Comment from : @bhoola123

This is one of the best videos I've ever watched on YouTube Thank you
Comment from : @nedhalnooh

This was incredibly helpful I am thinking about starting a business that isn't related to woodworking at all, I don't want my hobby to turn into a job, and the getting precise, accurate numbers for all the expenses makes so much sense, but isn't something that I have seen anyone talking about
Comment from : @jetownsend1

Justin I can't tell you how much I appreciated this video My wife and I started our side hustle woodworking business almost 2 years ago and are really looking to take it to the next level Your advice and information on how to account for expenses using a simple spreadsheet method is going to help us enormously I can't thank you enough for spending your time to spread your knowledge Cheers!!
Comment from : @cas_434

I am glad I found your videos Good job with the quality and clarity of what you are doing And I really liked this one as I have been wanting to do my own thing for a while now but just didnt know how to get started or everything that I needed to consider Thanks Again
Comment from : @steventhompson4254

Hey Justin, I love the look of your shop! It looks like your channel is growing pretty fast Congrats! I'm curious, how many subscribers did you have before you started making woodworking videos? Also, a bit of advice - it's not a good idea to put a list of keywords in your description That's called "keyword stuffing" and YT doesn't like it Use keywords for sure, but incorporate them in more of a natural descriptive way You can also use them as tags I don't believe in luck, so I'll say God's speed!
Comment from : @BrettsWoodshop

Really great video, thanks for sharing I've been working on setting up my business and it's great advice and to hear another person's perspective, especially with your experience Thank you 👍
Comment from : @danielnaden28

This video probably sealed your spot at the top of my favorite woodtubers Your experience really shines through in this one Look forward to growing with you
Comment from : @banana_bread_at_work

Your YouTube video was Well thoughtout; well executed; and touched on the very important detailsbrI now believe that I can use this information to determine if I can start a small woodworking business brWell done!
Comment from : @robertkerby2581