woodworking business plan template free

Woodworking Business Plan Template

Written by Dave Lavinsky

Woodworking Business Plan

You’ve come to the right place to create your Woodworking business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Woodworking companies.

Woodworking Business Plan Example

Below is a template to help you create each section of your Woodworking business plan.

Executive Summary

Business overview.

Bluebird Woodcraft, located in St. Paul, Minnesota, is a woodworking company that focuses on providing beautifully carved wooden decoration pieces and furniture. We create a wide variety of unique and handcrafted pieces, including dining sets, end tables, chests, and sculptures. The company’s goal is to become one of the leading woodworking businesses in the St. Paul area and beyond. We aim to create the perfect piece for every customer and always go above and beyond with our customer service.

Bluebird Woodcraft is led by Tyler Conrad, who has been in the woodworking industry for ten years. Tyler is a certified and licensed designer. He has extensive experience in the woodworking industry, working for leading brands prior to starting his own woodworking company. He will have the help and support of his business partner, Tim White, who will handle the marketing and administrative tasks for the company.

Product Offering

Bluebird Woodcraft will provide high-quality woodworking products for its clients. Some of the items we craft include:

• Carved decoration pieces and sculptures
• Wooden chests
• Dining sets
• Bookshelves
• Custom furniture
• Wooden toys

Customer Focus

Bluebird Woodcraft will primarily serve the residents of St. Paul, Minnesota, and the surrounding areas. We expect most of our customer base to be affluent and have families with young children. However, we also expect to see sales from businesses that need large woodworking projects, such as restaurants and hotels.

Management Team

Bluebird Woodcraft is led by Tyler Conrad, who has been in the woodworking industry for ten years. Tyler is a certified and licensed designer. He has extensive experience in the woodworking industry, working for leading brands across the country. His experience has given him extensive knowledge of the industry that will prove invaluable.

Tyler will have the help and support of his business partner, Tim White. Tim holds an MBA and has experience as an executive assistant for a high-profile company. He will handle the marketing and administrative tasks for the company.

Success Factors

Bluebird Woodcraft will be able to achieve success by offering the following competitive advantages:

• Management: The company’s management team has years of business and marketing experience that allows them to serve customers in an improved and more sophisticated manner than the competitors.
• Relationships: Having lived in the community for several years, Tyler Conrad knows all of the local community, media, and other influencers. Furthermore, he will be able to draw from his existing personal and professional relationships to develop an initial client base.
• Great products at an affordable price : The complete array of woodworking products offered by Bluebird Woodcraft nearly equals our most premium-positioned competitors. However, the company will offer these products at a much more affordable price.
• Location: Bluebird Woodcraft’s location is near the center of town, giving the company access to individual buyers and businesses.

Financial Highlights

Bluebird Woodcraft is seeking $400,000 in debt financing to launch. The funding will be dedicated to securing a retail space, build-out, and purchasing the necessary equipment and tools. Funding will also be dedicated toward three months of overhead costs, including payroll, rent, and marketing costs. The breakout of the funding is below:

• Retail space build-out: $100,000
• Equipment, tools, and supplies: $50,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $50,000
• Working capital: $50,000

The following graph below outlines the pro forma financial projections for Bluebird Woodcraft.

Company Overview

Who is bluebird woodcraft, bluebird woodcraft history.

Tyler Conrad is an entrepreneur who seeks to provide a one-of-a-kind upscale woodwork experience to the community by offering a wide selection of woodworking products in one place. Bluebird Woodcraft will become a known woodworking retail shop in St. Paul that will engage in all aspects of business services synonymous with a standard organization operating in the woodworking industry.

Upon surveying the local customer base and finding the potential retail location, Tyler Conrad incorporated Bluebird Woodcraft as an S-Corporation on 2/202X.

Tyler Conrad is currently undergoing due diligence on several properties and the local market to assess the most desirable location for the woodworking shop.

Since incorporation, the company has achieved the following milestones:

• Developed the company’s name, logo, and website
• Determined the list of products to be offered
• Determined equipment and inventory requirements
• Began recruiting key employees with experience in woodworking

Bluebird Woodcraft Services

Industry analysis.

For centuries, humans have used wood for nearly everything, including toys, furniture, and shelter. Even in modern times, almost everyone has at least one piece of wooden furniture, proving the neverending demand for woodworking skills.

What’s further increasing demand is customers’ desire to get unique and artistic wooden pieces. Woodworkers can use the natural colorations of wood to their advantage and make unique pieces for every customer. Many people are willing to pay top dollar for a piece of furniture or decoration that is unique and can’t be found elsewhere. Only woodworkers can provide this level of detail and personalization.

In 2022, the wooden furniture business was valued at $677.09 billion and is expected to reach a value of $1,070.87 billion by 2030. Furthermore, it is expected that the industry will continue to grow at a compound annual growth rate of 5.7% from now until the end of the decade. These statistics, as well as the prevalence of high-quality wooden furnishings in every home, prove that woodworking is still a desired and valuable business.

Customer Analysis

Demographic profile of target market.

Bluebird Woodcraft will serve the residents of St. Paul, Minnesota and the surrounding areas.

The area it will serve is populated mostly by moderate to affluent people; as a result, they have the means to pay for higher-quality products.

The precise demographics for St. Paul, Minnesota are:

Customer Segmentation

Bluebird Woodcraft will primarily target the following customer segments:

• Individual buyers and families
• Restaurants and hotels
• Other commercial businesses

Competitive Analysis

Direct and indirect competitors.

Bluebird Woodcraft will face competition from other companies with similar business profiles. A description of each competitor company is below.

Woodworkers USA

Woodworkers USA is one of the leading providers of wooden furniture in town and has been in business for 50 years. Woodworkers USA specializes in accommodating all types of home improvement projects, including kitchen designs, bathroom vanities, and affordable cabinets. They aim to personalize every item they make so that their products fit perfectly in every single one of their customers’ homes.

Imperial Wood

Imperial Wood has been in the industry since 1967, catering to various groups of customers. Imperial Wood was designed with state-of-the-art facilities and technologies and, in turn, has been the store of choice by buyers. Imperial Wood focuses on the creation of truly custom, fully functional, highly aesthetic pieces of unparalleled quality and everlasting beauty of the designing works.

Custom Woodworking

Custom Woodworking was established in 2002. Custom Woodworking offers custom design and fine furniture and is also a cabinetmaking shop located in the US. Custom Woodworking provides the best material with the best finishing, along with a warranty of 10 years for structural defects. The company’s strategic insightful approach for every project is to incorporate sustainable and safe materials or create a fully green cabinet installation.

Competitive Advantage

Bluebird Woodcraft enjoys several advantages over its competitors. These advantages include:

Marketing Plan

Brand & value proposition.

Bluebird Woodcraft seeks to position itself as a respectable, upper-middle-market competitor in the woodwork market. Customers can expect high-quality designs and excellent customer service.

The Bluebird Woodcraft brand will focus on the company’s unique value proposition:

• Offering a wide collection of high-quality wooden products
• Convenient location
• Comfortable, customer-focused environment
• Moderate price point
• Excellent customer service

Promotions Strategy

The promotions strategy for Bluebird Woodcraft is as follows:

Advertisement

Advertisements in print publications like newspapers, magazines, etc., are an excellent way for businesses to connect with their audience. The company will advertise its offerings in popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.

Social Media Marketing

Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The company will use social media to develop engaging content in terms of various forms and technologies of woodworking and post customer reviews that will increase audience awareness and loyalty.

Word of Mouth Marketing

Bluebird Woodcraft will encourage word-of-mouth marketing from loyal and satisfied clients. The company will use recommendations and word-of-mouth marketing to grow its customer base through the network of its existing customers. The company will incentivize its existing customer base to encourage friends to order unique wooden pieces with us for the first time.

Special Offers

Offers and incentives are an excellent approach to assisting businesses in replenishing the churn in their customer base that they lose each year. The company will introduce special offers to attract new consumers and encourage repeat purchases, which will be quite advantageous in the long run.

Bluebird Woodcraft’s pricing will be moderate, so customers feel they receive great value when ordering our wooden creations. Customers can expect to receive quality wooden pieces at a more affordable price than what they pay at an ultra-premium woodworking company.

Operations Plan

Operation Functions:

The following will be the operations plan for Bluebird Woodcraft.

• Tyler Conrad will be the Owner, President, and Store Manager of Bluebird Woodcraft and be in charge of the general operations of the company. He will also provide customer service and fulfill woodworking orders until there is a large enough staff to handle all the sales and woodworking aspects of the business.
• He is assisted by his partner, Tim White, who will be the Vice President of the company. He will assist with the marketing and administrative aspects of the business.
• Tyler will also hire several woodworkers to help with customer service and woodworking. Once sales increase, he will hire a Store Manager and Assistant Manager to run the location.

Milestones:

Bluebird Woodcraft expects to achieve the following milestones in the following months:

7/202X            Finalize lease agreement

8/202X            Design and build out

9/202X            Hire and train initial staff

10/202X          Kickoff of promotional campaign

11/202X          Launch Bluebird Woodcraft

12/202X          Reach break-even

Financial Plan

Key revenue & costs.

Bluebird Woodcraft’s revenues will come from its custom, handmade wooden products. The major costs for the company will be the supplier costs, salaries of the staff, and rent for a prime location. In the initial years, the company’s marketing spending will be high until it establishes itself in the market.

Funding Requirements and Use of Funds

• Retail space build-out: $150,000
• Three months of overhead expenses (payroll, rent, utilities): $100,000

Key Assumptions

Below are the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Monthly rent: $1,500

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Woodworking Business Plan FAQs

What is a woodworking business plan.

A woodworking business plan is a plan to start and/or grow your woodworking business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Woodworking business plan using our Woodworking Business Plan Template here .

What are the Main Types of Woodworking Businesses?

There are a number of different kinds of woodworking businesses, some examples include: Plywood manufacturing, Wooden furniture making, Wooden jewelry making, or Wooden interior.

How Do You Get Funding for Your Woodworking Business Plan?

Woodworking businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Woodworking Business?

Starting a woodworking business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Woodworking Business Plan - The first step in starting a business is to create a detailed woodworking business plan pdf or doc that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your woodworking business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your woodworking business is in compliance with local laws.

3. Register Your Woodworking Business - Once you have chosen a legal structure, the next step is to register your woodworking business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your woodworking business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Woodworking Equipment & Supplies - In order to start your woodworking business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your woodworking business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful woodworking business:

• How to Start a Woodworking
• Plywood manufacturing : this type of woodworking involves manufacturing the plywood to be used for material for housing, ships, vehicles, and furniture. It is an economical, factory-produced sheet of wood with precise dimensions.
• Wooden furniture making:  this type of woodworking manufactures wood that is commonly used for beds, sofa sets, cupboards, dressing units, sitting arrangements, tables, etc.
• Wooden jewelry making:  this type of woodworking uses technically upgraded machinery to produce wooden contemporary jewelry.
• Wooden interior

Woodworking Business Plan Template

Written by Dave Lavinsky

Woodworking Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their woodworking companies. 

If you’re unfamiliar with creating a woodworking business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a woodworking business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Woodworking Business Plan?

A business plan provides a snapshot of your woodworking business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Woodworking Business

If you’re looking to start a woodworking business or grow your existing woodworking company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your woodworking business to improve your chances of success. Your woodworking business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Woodworking Businesses

With regards to funding, the main sources of funding for a woodworking business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for woodworking companies.

Finish Your Business Plan Today!

How to write a business plan for a woodworking business.

If you want to start a woodworking business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your woodworking business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of woodworking business you are running and the status. For example, are you a startup, do you have a woodworking business that you would like to grow, or are you operating a chain of woodworking businesses?

Next, provide an overview of each of the subsequent sections of your plan. 

• Give a brief overv iew of the woodworking industry. 
• Discuss the type of woodworking business you are operating. 
• Detail your direct competitors. Give an overview of your target customers. 
• Provide a snapshot of your marketing strategy. Identify the key members of your team. 
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of woodworking business you are operating.

For example, your company might specialize in one of the following types of woodworking businesses:

• Plywood manufacturing : this type of woodworking involves manufacturing the plywood to be used for material for housing, ships, vehicles, and furniture. It is an economical, factory-produced sheet of wood with precise dimensions. 
• Wooden furniture making: this type of woodworking manufactures wood that is commonly used for beds, sofa sets, cupboards, dressing units, sitting arrangements, tables, etc.
• Wooden jewelry making: this type of woodworking uses technically upgraded machinery to produce wooden contemporary jewelry.
• Wooden interior: this type of woodworking manufactures the wood used for the interior part of a room, such as wooden flooring, wall, ceiling, etc.

In addition to explaining the type of woodworking business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, the number of items produced with positive reviews, reaching X number of products sold, etc.
• Your legal business structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the woodworking industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the woodworking industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your woodworking business plan:

• How big is the woodworking industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your woodworking business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your woodworking business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: furniture stores, home builders, contractors, and individuals.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of woodworking business you operate. Clearly, individuals would respond to different marketing promotions than home builders, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

Finish Your Woodworking Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are othe r woodworking businesses. 

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes large home improvement stores, tool shops, and craft or hobby stores. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of woodworking business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide custom items and designs?
• Will you offer products that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a woodworking business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type o f woodworking company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide plywood manufacturing, wooden interior products, wooden furniture, or wooden jewelry?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of yo ur plan, yo u are presenting the products you offer and their prices.

Place : Place refers to the site of your woodworking company. Document where your company is situated and mention how the site will impact your success. For example, is your woodworking business located in a busy retail district, a business district or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your woodworking marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites 
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your woodworking business, including ordering and sourcing wood, designing products, billing vendors and/or suppliers, etc. 

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sell your Xth product, or when you hope to reach $X in revenue. It could also be when you expect to expand your woodworking business to a new city.  

Management Team

To demonstrate your woodworking business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience in managing woodworking businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a woodworking business or successfully running a small craft store.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance s heet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you produce 5 items per day, and/or offer custom designs ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your woodworking business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. 

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a woodworking business:

• Cost of equipment and wooden supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your factory location lease or a list of products you plan to manufacture and sell.  

Writing a business plan for your woodworking business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the woodworking industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful woodworking business.  

Don’t you wish there was a faster, easier way to finish your Woodworking business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning advisor can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Woodworking Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Art & Craft Industry » Woodworking

Are you about starting a woodworking business ? If YES, here is a complete sample woodworking business plan template & feasibility report you can use for FREE .

The thing to look out for when choosing a business to launch is to seek out a business whose products or services are needed in our everyday life; a business whose products can be purchased by the rich as well as the poor and a business that is less competitive in your location.

Suggested for You

• Coin Dealer Business Plan [Sample Template]
• How to Start a 3D Figurine Printing Business
• How to Start a Furniture Upcycling Business
• Calligraphy Services Business Plan [Sample Template]
• Sign Shop Business Plan [Sample Template]

Starting a woodworking company can come in handy if you have the technical skills and of course the financial requirements.

If you are sure that this type of business is what you truly want to do after you must have conducted your market research and feasibility studies, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your services.

The truth is that, it is one thing to have a fantastic idea cum business plan; it is another thing for the business plan to translate to money, that is why it is important to assemble a team of experts to work with if you want to be successful with your woodworking company.

Below is a sample woodworking company business plan template that will help you successfully launch your own business.

A Sample Woodworking Business Plan Template

1. industry overview.

Players in the Woodworking industry are involved in the manufacturing of different types and shapes of products with wood.

Woodworking is the skill of making items from wood, and it includes cabinet making (cabinetry and furniture), wood carving, joinery, carpentry, and woodturning.

A quick of happenings in the Woodworking industry shows that the industry in recent time has experienced a period of strong revenue growth.

A recovery in downstream demand has driven overall industry revenue growth during the period, as the construction sector and wood product manufacturers reaped the benefits of improving economic conditions in the united states.

In addition, the revenue generated by players in this industry is expected to continue growing over the next five years. Downstream customers, such as wood product manufacturers, carpentry contractors, and residential and nonresidential construction industries, will continue to be the major markets for industry products, while demand from households will improve as consumer confidence and per capital disposable continue to recover.

Statistics has it that in the United States of America alone, there are about 193 registered and licensed woodworking companies responsible for employing about 3,374 people and the industry rakes in a whooping sum of $827 million annually.

The industry is projected to enjoy 4.8 percent annual growth within 2013 and 2018. It is important to state that no establishment can boast of having the lion share of the available market in this industry.

Research carried out by IBISWorld clearly states that over the five years to 2018, the Woodworking industry has exhibited strong growth.

Strong improvements in downstream demand have driven industry growth, as wood product manufacturers and the construction sector overall reaped the benefits of improving economic conditions in the United States.

The report further shows that woodworking relies on demand from carpentry contractors, activity in residential and nonresidential building construction and wood product manufacturers.

Consequently, industry revenue is anticipated to increase at an annualized rate of 4.8 percent totaling $826.8 million over the five years to 2018. However, revenue is expected to decline 5.6 percent in 2018 as slowed demand catches up with the industry.

Over and above, the woodworking industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale or a large scale servicing a wide range of clientele not only in the United States’ market space, but exporting to other countries of the world.

2. Executive Summary

Nathaniel Jacobs® Woodworking Shop, Inc. is a registered woodworking company that will be located in Reno – Nevada; in an ideal location highly suitable for the kind of business we want to establish.

We have been able to lease a facility that is big enough (a 10 thousand square foot facility) to fit into the kind of standard woodworking company that we intend launching.

Nathaniel Jacobs® Woodworking Shop will be involved in carving of woods, cabins and also a wide range of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise), outdoor and office furniture (Desks and home office goods, lamps, recliners, rugs and outdoor furniture).

We will ensure that we only make use of strong, sturdy wood including Aspen, Basswood, Butternut, Black Walnut, and Oak.

We are aware that there are several woodworking companies all around the United States of America, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

Nathaniel Jacobs® Woodworking Shop, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products.

Nathaniel Jacobs® Woodworking Shop, Inc. will ensure that all our customers (wholesalers and distributors) are given first class treatment whenever they visit our factory. We have a CRM software that will enable us manage a one on one relationship with our customers.

We will ensure that we get our customers involved when making some business decisions that will directly or indirectly affect them.

Nathaniel Jacobs® Woodworking Shop, Inc. is a family business that is owned by Nathaniel Jacobs and his immediate family members. Nathaniel Jacobs has a Diploma in Arts and Crafts, with over 15 years’ experience in the woodworking industry, working for some of the leading brands in the United States.

3. Our Products and Services

Nathaniel Jacobs® Woodworking Shop, Inc. is in the woodworking industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to give our clients and potential clients options. Our product offerings will include all products carved out of woods such as;

• Wooden art works
• Guitars and electric basses
• Wooden parts and accessories
• A wide range of wooden household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise), stationary sofas/sofa-sleepers
• Custom architectural woodwork and other fixtures

4. Our Mission and Vision Statement

• Our vision is to become the leading brand in the woodworking industry in the whole of Reno – Nevada.
• Our mission is to establish a world – class woodworking shop that will produce wooden related products from the finest of woods. A company whose products will not only be retailed all across the United States of America, but also be exported to other countries of the world.

Our Business Structure

Our intention of starting a woodworking company is to build a standard business whose products will be exported to other countries of the world. We will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Workshop Manager
• Human Resources and Admin Manager

Sales and Marketing Manager

• Accountants/Cashiers
• Customer Services Executive/Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring and appraising job results
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Accountable for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Workshop Manager:

• Responsible for overseeing the smooth running of the workshop
• Part of the team that determines the quantity of furniture and wooden products that are to be produced
• Maps out strategy that will lead to efficiency amongst workers
• Responsible for training, evaluation and assessment of workshop workers
• Ensures that the workshop meets the expected safety and health standard at all times.
• Interfaces with third – party suppliers (vendors) of raw materials
• Controls furniture and wooden products distribution and supply inventory
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Identifies, prioritize, and reach out to new partners, and business opportunities et al
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Responsible for designing and producing wooden art works, guitars and electric basses, custom architectural woodwork and other fixtures, wooden showcases, partitions, shelving and lockers, and wooden parts and accessories
• Responsible for designing a wide range of wooden household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise), stationary sofas/sofa-sleepers

Accountant/Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive/Front Desk Officer

• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
• Receives parcels / documents for the company
• Distributes mails in the organization
• Handles any other duties as assigned by the line manager

6. SWOT Analysis

Nathaniel Jacobs® Woodworking Shop, Inc. intends to become one of the leading woodworking companies in the whole of Reno – Nevada and we are fully aware that it will take the right business concept, management and organizational structure to achieve our goal.

We are quite aware that there are several woodworking companies all over the United States of America and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

Nathaniel Jacobs® Woodworking Shop, Inc. employed the services of an expert HR and Business Analyst with bias in manufacturing to help us conduct a thorough SWOT analysis. This is a summary of the SWOT analysis that was conducted for Nathaniel Jacobs® Woodworking Shop, Inc.;

Our core strength lies in the quality of the products. We have a team of highly trained and experienced wood carvers and carpenters that can produce durable wooden products made from strong, sturdy, and versatile wood including Aspen, Basswood, Butternut, Black Walnut, and Oak.

We are well positioned in the heart of Reno – Nevada and we know we will attract loads of clients from the first day we open our showroom for business.

A major weakness that may count against us is the fact that we are a new woodworking company and we don’t have the financial capacity to compete with multi – million dollar woodworking companies in the United States and most especially from China and Africa. So also, we may not have enough cash reserve to promote our woodworking company the way we would want to do.

• Opportunities:

The fact that we are going to be operating our woodworking company in Reno – Nevada provides us with unlimited opportunities to sell our furniture and other wooden related products to a large number of individuals and corporate organizations.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our woodworking showroom; we are well positioned to take on the opportunities that will come our way. Despite rising imports, the industry will benefit from improved downstream demand.

The fact that import competition has remained intense during this period and also residential construction growth is expected to slow significantly will remain an ongoing challenge for our business. Another threat that may likely confront us is the arrival of a new woodworking company in same location where ours is located.

So also, unfavorable government policies especially policies that allows foreign manufacturers to flood the US market may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the trends in the Woodworking Industry, you will quite agree that the changes in disposable income, consumer sentiment, ever changing trends and of course the rate of homeownership are major growth drivers for this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Woodworking industry.

So also, the rising demand for both home and office furniture, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as furniture stores keep prices low to attract more sales amid growing competition.

A close watch on the industry activities reveals that, the Retail Market for Home Furniture and Bedding was hit hard by the recent economic downturn and experienced a decline in revenue. As part of marketing strategies, woodworking companies now ensure that they have showrooms at different locations where they display their furniture.

As a matter of fact, it is even cheaper to purchase directly from these showrooms established by furniture manufacturing companies as against purchasing from furniture retail stores. It is a strategy that helps them increase sales and income for their business.

Lastly, with the advance in modern technology, woodwork as a field has changed. The development of Computer Numeric Controlled (CNC) Machines, for example, has made us able to mass-produce and reproduce products faster, with less waste, and often more complex designs than ever before.

CNC Routers can carve complicated and highly detailed shapes into flat stock, to create signs or art. Rechargeable power tools speed up creation of many projects and require much less body strength than in the past, for example when boring multiple holes. Skilled fine woodworking, however, remains a craft pursued by many.

8. Our Target Market

We are fully aware that there is indeed a large national and international market for products made from wood hence we have positioned our woodworking company to service wood related construction companies, households and other manufacturing companies all around Reno – Nevada and every other location where we intend distributing our products.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to manufacture a wide range of wooden products for the following clients;

• Corporate organizations
• Religious organizations
• Government establishments
• Carpentry contractors
• Residential and nonresidential construction industries

Our competitive advantage

A close study of the woodworking industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the competition and we are prepared to compete favorably with other leading woodworking companies in Reno – Nevada and throughout the United States.

Nathaniel Jacobs® Woodworking Shop, Inc. is launching a standard woodworking company whose products will indeed become the preferred choice of residents of Reno – Nevada. So also, we are located in an ideal property highly suitable for the kind of manufacturing company that we want to run.

One thing is certain, we will ensure that we manufacture a wide range of furniture and wooden products to meet international standards.

One of our business goal is to make Nathaniel Jacobs® Woodworking Shop, Inc. a one stop woodworking company for both cottage companies and large corporations. Our excellent customer service culture, online store, various payment options and highly secured showroom facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Nathaniel Jacobs® Woodworking Shop, Inc. is in business to manufacture and retail a wide range of wood products. We are in the woodworking industry to maximize profits and we are going to ensure that we achieve our business goals. Nathaniel Jacobs® Woodworking Shop, Inc. will generate income by selling the following products;

• Wooden showcases, partitions, shelving and lockers

10. Sales Forecast

One thing is certain when it comes to woodworking business, if your factory is well located and you have good business network, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Reno – Nevada and we are quite optimistic that we will meet our set target of generating enough income from the first six months of operation and grow the business and our clientele base beyond Reno – Nevada to other states in the United States of America and other countries of the world.

We have been able to critically examine the woodworking industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projection for Nathaniel Jacobs® Woodworking Shop, Inc., it is based on the location of our business and other factors as it relates to woodworking shop startups in the United States;

• First Fiscal Year: $350,000
• Second Fiscal Year: $750,000
• Third Fiscal Year: $1.2 million

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Nathaniel Jacobs® Woodworking Shop, Inc., we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market and become the preferred choice for stakeholders in and around Reno – Nevada.

We hired experts who have good understanding of the woodworking industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Reno – Nevada and throughout the United States of America.

In summary, Nathaniel Jacobs® Woodworking Shop, Inc. will adopt the following sales and marketing approach to win customers over;

• Open our woodworking showroom in a grand style with a party for all.
• Introduce our woodworking company by sending introductory letters alongside our catalogue to construction companies, households, offices, religious organizations and key stake holders in and around Reno – Nevada
• Ensure that we manufacture a wide range of furniture and other wooden products
• Make use of attractive hand bills to create awareness and also to give direction to our showroom
• Position our signage/flexi banners at strategic places around Reno – Nevada
• List our business and products on yellow pages’ ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)
• Join local chambers of commerce and industries with the aim of networking and marketing our products.

11. Publicity and Advertising Strategy

Nathaniel Jacobs® Woodworking Shop, Inc. has a long – term plan of opening our retail outlets cum showrooms in various locations in Reno – Nevada and key cities in the United States which is why we will deliberately build our brand to be well accepted in Reno – Nevada before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Nathaniel Jacobs® Woodworking Shop, Inc.;

• Place adverts on community based newspapers, radio and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, Google+ and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Reno – Nevada
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Advertise our woodworking company in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to woodworking companies, it is normal for clients to go to places where they can get furniture and products made from woods at cheaper prices which is why big players in the industry will always attract loads of clients.

We know we don’t have the capacity to compete with leading woodworking companies in the United States and in other parts of the world, but we will ensure that the prices and quality of all the products that we manufacture are competitive with what is obtainable amongst woodworking companies within our level.

• Payment Options

The payment policy adopted by Nathaniel Jacobs® Woodworking Shop, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Nathaniel Jacobs® Woodworking Shop, Inc. will make available to her clients;

• Payment via bank transfer
• Payment via credit cards
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our clients make payment for the purchase of our furniture and other products without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

This is what it would cost us to set up Nathaniel Jacobs® Woodworking Shop, Inc. in the United States of America;

• The total fee for registering the Business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Nathaniel Jacobs® Woodworking Shop, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The total cost for hiring Business Consultant – $2,500.
• The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400.
• The total cost for long – term leasing of a standard workshop facility and showroom – $250,000
• The total cost for remodeling the workshop and showroom – $20,000.
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits – ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The total cost for production machines, raw materials and start-up inventory – $75,000
• The total cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The total cost for the purchase and installation of CCTVs – $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
• The total cost of launching a Website – $600
• The total cost for our opening party – $7,000
• Miscellaneous – $10,000

We would need an estimate of three hundred and fifty thousand dollars ( $350,000 ) to successfully set up our woodworking company in Reno – Nevada.

Generating Startup Capital for Nathaniel Jacobs® Woodworking Shop, Inc.

Nathaniel Jacobs® Woodworking Shop, Inc. is a family business that is owned and financed by Nathaniel Jacobs and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

• Generate part of the startup capital from personal savings and sell of stocks
• Source for soft loans from family members and friends
• Apply for loan from the bank

N.B: We have been able to generate about $100,000 ( Personal savings $80,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.

One of our major goals of starting Nathaniel Jacobs® Woodworking Shop, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to manufacture and retail durable furniture and other wooden products a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Nathaniel Jacobs® Woodworking Shop, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the facility (workshop and showroom): In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the needed production machines, furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party planning: In Progress
• Compilation of our list of products that will be available in our store: Completed
• Establishing business relationship with vendors – suppliers and wholesale distributors of furniture and other products made from wood: In Progress

Free Woodworking Business Plan Template

A successful woodworking business is based on a solid business plan. To help you out, we've designed a business plan template PDF specifically for woodworking business owners. Get your copy today!

How can a woodworking business plan help you?

A solid business plan acts as your strategy guide for building a successful woodworking business.

Whether you're an existing woodworking business or just starting out, a business plan helps you get organised.

Use a business plan to help secure funding for your woodworking business.

Get your free woodworking business plan template:

What is tradify.

Tradify is the best woodworking business management software that runs all your jobs from start to finish.

Bring together all your enquiries, estimates, quotes, jobs, staff, invoices, and more — all in one place, across every device.

Save time and eliminate stress with Tradify!

Woodworking Business Plan Template & Guidebook

Running a successful woodworking business is an incredibly rewarding experience but the journey can be long and can require a large amount of planning. The #1 Woodworking Business Plan Template & Guidebook is a comprehensive, step-by-step guide to help any aspiring woodworker create an effective business plan that takes into account all aspects of their company and provides a roadmap for success. With this guide, anyone with a passion for woodworking can learn the fundamentals of business planning and create a plan that will help them reach their goals.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Woodworking Business [11 Steps]
• 10+ Best & Profitable Woodworking Business Ideas [2023]
• 25 Catchy Woodworking Business Names:
• List of the Best Marketing Ideas For Your Woodworking Business:

How to Write a Woodworking Business Plan in 7 Steps:

1. describe the purpose of your woodworking business..

The first step to writing your business plan is to describe the purpose of your woodworking business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a woodworking business:

Our mission at XYZ Woodworking is to provide quality woodworking products and services that exceed our customer's expectations through quality craftsmanship, innovation, and superior customer service. We aim to build lasting relationships with our customers while helping them achieve their goals through our products and services.

2. Products & Services Offered by Your Woodworking Business.

The next step is to outline your products and services for your woodworking business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your woodworking business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your woodworking business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your woodworking business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a woodworking business?

To run a woodworking business, you'll need the following equipment, supplies, and permits:

• Drill press
• Router or Shaper
• Woodworking clamps and jigs
• Hand tools such as chisels, hammers, and block planes
• Safety Gear (gloves, goggles, dust mask)
• Lumber and other materials
• Writing supplies for record keeping/tracking orders.
• Business licenses and permits

5. Management & Organization of Your Woodworking Business.

The second part of your woodworking business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your woodworking business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Woodworking Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a woodworking business varies based on many different variables, but below are a few different types of startup costs for a woodworking business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your woodworking business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your woodworking business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your woodworking business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Woodworking Business Plans:

Why do you need a business plan for a woodworking business.

A business plan is necessary to outline the goals and objectives of the woodworking business, such as expected sales and costs, required equipment and personnel, marketing strategies, and financial projections. Having a detailed business plan can help attract potential investors, obtain financing, and provide a roadmap for success.

Who should you ask for help with your woodworking business plan?

You can ask a business consultant with experience in the woodworking industry, as well as an accountant or financial advisor who is familiar with small businesses and banking. Additionally, many local government offices and organizations offer resources for business planning, including templates and access to professional assistance.

Can you write a woodworking business plan yourself?

Yes, it is possible to write a woodworking business plan yourself. However, it is recommended that entrepreneurs seek the assistance of a professional business plan writer in order to ensure that the plan accurately reflects their vision, objectives and strategies. Professional business plans also have a higher chance of being approved by potential investors or financing institutions.

Related Business Plans

Home Inventory Business Plan Template & Guidebook

Home Inspection Business Plan Template & Guidebook

Home Decor Business Plan Template & Guidebook

Health And Wellness Business Plan Template & Guidebook

Hauling Business Plan Template & Guidebook

Hardware Business Plan Template & Guidebook

Handyman Business Plan Template & Guidebook

Hair Extension Business Plan Template & Guidebook

Handbag Business Plan Template & Guidebook

We're newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

Item added to your cart

Here is a free business plan sample for a woodworking shop.

If the scent of sawdust and the sound of power tools are what excite you, then starting your own woodworking shop might be your calling.

In the following paragraphs, we will guide you through a comprehensive business plan tailored for a woodworking shop.

As any seasoned craftsman will tell you, a detailed and well-thought-out business plan is crucial for turning your woodworking passion into a profitable venture. It serves as a roadmap, outlining your vision, objectives, and the strategies you'll employ to carve out your niche in the market.

To get your business plan on paper without any hiccups, feel free to utilize our woodworking shop business plan template. Our team of experts is also on hand to provide a free review and fine-tuning of your plan.

How to draft a great business plan for your woodworking shop?

A good business plan for a woodworking shop must reflect the unique aspects of this type of craft and business.

To start, it is crucial to provide a comprehensive overview of the woodworking market. This includes current statistics and identifying emerging trends within the industry, as illustrated in our woodworking shop business plan template .

Then, you should articulate your business concept effectively. This encompasses your vision, pinpointing your target audience (such as homeowners, interior designers, construction companies), and the distinctive positioning of your woodworking shop (custom furniture, bespoke cabinetry, handcrafted wooden art, etc.).

The next section should delve into market analysis. This requires a thorough understanding of local competitors, industry trends, and consumer preferences specific to woodworking products and services.

For a woodworking shop, particular emphasis should be placed on the products and services you intend to provide. Detail your offerings - custom furniture, cabinetry, woodturning, carving - and describe how they cater to the needs and desires of your target customers.

The operational plan is equally important. It should outline the location of your shop, the layout of the workshop and showroom, suppliers of lumber and tools, and the crafting process.

In a woodworking shop, it is vital to highlight the quality of materials, craftsmanship, and adherence to safety standards.

Then, address your marketing and sales strategy. How do you plan to attract and keep clients? Consider promotional tactics, customer relationship management, and potential additional services (for example, woodworking classes or repair services).

Implementing digital strategies, such as a website or social media engagement, is also crucial in the modern marketplace.

The financial framework is another fundamental component. This includes the initial investment, projected sales, operating expenses, and the point at which the business will break even.

In woodworking, margins can vary significantly based on materials and labor intensity, so precise planning and a solid understanding of your financials are imperative. For assistance, you can refer to our financial forecast for a woodworking shop .

Compared to other business plans, a woodworking shop's plan must pay special attention to the procurement of quality wood and materials, compliance with specific trade and safety regulations, and the potential for custom orders requiring unique timelines.

A well-crafted business plan will not only help the entrepreneur to define their vision and strategies but also to attract investors or secure loans.

Lenders and investors are looking for a robust market analysis, realistic financial projections, and a clear understanding of the day-to-day operations of a woodworking shop.

By presenting a thorough and substantiated plan, you showcase your professionalism and dedication to the success of your enterprise.

To achieve these goals while saving time, you can simply fill out our woodworking shop business plan template .

A free example of business plan for a woodworking shop

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a woodworking shop .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The woodworking industry is a robust and essential sector with a strong market presence.

Recent estimates value the global woodworking market at approximately 400 billion dollars, with projections indicating steady growth due to the increasing demand for custom and artisanal wood products.

In the United States, there are over 100,000 woodworking businesses, contributing to an annual turnover of nearly 30 billion dollars for the woodworking sector.

These statistics underscore the significance of woodworking in both the American economy and the manufacturing landscape.

Current trends in the woodworking industry highlight a movement towards bespoke, handcrafted items and sustainable practices.

There is a growing appreciation for unique, custom-made wooden furniture and decor, with consumers willing to invest in pieces that offer personalization and longevity.

Sustainability is becoming increasingly important, with a focus on using responsibly sourced materials and eco-friendly finishes. The rise of upcycling and reclaiming old wood for new projects is also notable.

Technological advancements, such as CNC machinery and laser cutting, are revolutionizing the way wood products are designed and manufactured, allowing for precision and efficiency.

Online sales platforms and social media marketing are becoming vital for woodworkers to showcase their work and reach a broader audience.

Moreover, the emphasis on craftsmanship and the story behind each piece is becoming a key selling point, as consumers seek authenticity and a connection to the maker.

These trends indicate how the woodworking industry is evolving to cater to the modern consumer's preferences and environmental consciousness.

Success Factors

The success of a woodworking shop hinges on several critical aspects.

Foremost, the quality of craftsmanship is paramount. A woodworking shop that produces finely crafted, durable, and aesthetically pleasing items is more likely to build a dedicated clientele.

Innovation in design and the ability to offer custom solutions can significantly differentiate a shop in a crowded market.

The location of the shop can influence foot traffic and visibility, but an effective online presence can also attract customers from beyond the local area.

Exceptional customer service and the ability to engage with clients to understand their needs and preferences are essential for repeat business and word-of-mouth referrals.

Lastly, efficient cost management, commitment to sustainability, and the capacity to integrate new technologies and trends, such as smart home-compatible furniture or eco-friendly materials, are crucial for the long-term viability of a woodworking shop.

The Project

Project presentation.

Our woodworking shop project is designed to cater to the increasing demand for custom, handcrafted wood products. Situated in an area with a thriving community of homeowners and local businesses, our shop will offer a variety of woodworking services, including custom furniture, cabinetry, and unique wooden crafts. Each piece will be crafted with precision and care, using sustainable and locally sourced wood whenever possible.

We will emphasize the beauty and durability of our creations, ensuring that each product is not only aesthetically pleasing but also built to last.

Our woodworking shop aims to become a go-to destination for those who appreciate the warmth and individuality of handcrafted wood items, enhancing the living and working spaces of our clients.

Value Proposition

The value proposition of our woodworking shop is centered on delivering bespoke, high-quality wood products tailored to the individual needs and preferences of our customers.

Our dedication to craftsmanship, sustainability, and customer service offers a unique shopping experience, while also supporting the local economy and promoting environmentally responsible practices.

We are committed to fostering a connection between the art of woodworking and the community, providing not just products, but also a sense of tradition and authenticity.

Our woodworking shop strives to be a cornerstone in the community, offering personalized solutions that enhance the beauty and functionality of our customers' spaces.

Project Owner

The project owner is a skilled artisan with a passion for woodworking and a deep appreciation for the natural beauty of wood.

With years of experience in crafting and design, as well as a background in sustainable practices, he is dedicated to establishing a woodworking shop that stands out for its quality, originality, and commitment to the environment.

Driven by a vision of creating unique wooden pieces that tell a story, he is determined to offer products that not only serve their functional purpose but also carry an artistic value.

His dedication to the craft and his desire to share the joy of custom woodworking make him the ideal leader for this project, aiming to bring bespoke woodwork into the homes and hearts of the community.

The Market Study

Market segments.

The market segments for this woodworking shop are diverse and cater to various customer needs.

Firstly, there are individual homeowners looking for custom furniture or unique woodwork to enhance their living spaces.

Next, we have interior designers and architects seeking bespoke wood pieces or specialized carpentry to complete their projects.

Additionally, the market includes hobbyists and DIY enthusiasts who require quality woodworking materials and tools for their personal projects.

Lastly, commercial clients such as restaurants, hotels, and office spaces often seek custom woodworking services for functional and aesthetic purposes.

SWOT Analysis

A SWOT analysis of this woodworking shop project highlights several key factors.

Strengths include a high level of craftsmanship, a reputation for durability and quality, and the ability to offer personalized customer service.

Weaknesses might encompass the initial cost of setting up a fully equipped workshop and the time-intensive nature of custom work.

Opportunities can be found in the rising trend of bespoke furniture and the growing appreciation for handcrafted goods, as well as the potential to expand into online sales.

Threats could involve the competition from mass-produced furniture companies and the fluctuating prices of lumber and other materials.

Competitor Analysis

Competitor analysis in the woodworking sector indicates a mix of competition.

Direct competitors include other local woodworking shops and larger furniture manufacturers that offer custom pieces.

These competitors vie for customers who value craftsmanship and custom design.

Potential competitive advantages include the shop's unique design capabilities, the quality of handcrafted pieces, strong local brand recognition, and exceptional customer service.

Understanding the strengths and weaknesses of these competitors is crucial for carving out a niche in the market and ensuring customer loyalty.

Competitive Advantages

Our woodworking shop's dedication to craftsmanship and quality sets us apart in the industry.

We provide a wide array of services, from custom furniture making to intricate wood carvings, all crafted with precision and care.

Our commitment to customer collaboration allows us to tailor our work to the specific needs and desires of each client, creating a personalized experience that mass-produced products cannot match.

We also emphasize sustainable practices, using responsibly sourced wood and eco-friendly finishes, which resonates with environmentally conscious consumers.

You can also read our articles about: - how to start a woodworking shop: a complete guide - the customer segments of a woodworking shop - the competition study for a woodworking shop

The Strategy

Development plan.

Our three-year development plan for the woodworking shop is designed to establish us as a premier provider of custom woodworking services.

In the first year, we aim to build a strong local reputation for craftsmanship and customer service, focusing on custom projects and building a portfolio of our work.

The second year will be geared towards expanding our services to include woodworking classes and workshops, as well as exploring online sales channels for our products.

In the third year, we plan to collaborate with interior designers and contractors to increase our reach in the commercial space, and also to invest in more advanced machinery to enhance our production capabilities.

Throughout this period, we will prioritize sustainable practices, sourcing materials responsibly, and continuously improving our skills to deliver exceptional value to our customers.

Business Model Canvas

The Business Model Canvas for our woodworking shop focuses on individuals and businesses looking for high-quality, custom woodwork.

Our value proposition is centered on delivering bespoke craftsmanship, personalized design services, and a commitment to using sustainable materials.

We will market our products through our workshop's showroom, online platforms, and at local craft fairs, utilizing our skilled artisans and state-of-the-art woodworking tools as key resources.

Key activities include designing, crafting, and finishing unique wood products, as well as hosting woodworking classes.

Our revenue streams will be generated from the sale of custom pieces, woodworking classes, and partnerships with local businesses, while our costs will be associated with materials, labor, and equipment maintenance.

Find a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on showcasing the quality and artistry of our work.

We plan to engage with our target audience through social media platforms, showcasing our custom projects and the unique stories behind them. We will also participate in local craft shows and community events to increase visibility.

Additionally, we will offer woodworking workshops to foster community engagement and to showcase our expertise and passion for the craft.

Collaborations with local businesses and interior designers will help us tap into a wider market, and we will seek to gain media coverage in home and lifestyle publications.

Risk Policy

Our risk policy for the woodworking shop includes measures to mitigate risks associated with workshop operations, supply chain management, and customer satisfaction.

We will implement strict safety protocols to prevent accidents, maintain equipment regularly to ensure operational efficiency, and source materials from reliable suppliers to avoid disruptions.

Quality control checks will be in place to ensure that all products meet our high standards. We will also manage costs carefully to maintain financial stability.

Insurance coverage for property, liability, and workers' compensation will be secured to protect against unforeseen events. Our focus is on delivering high-quality woodwork while ensuring the safety and satisfaction of our customers and employees.

Why Our Project is Viable

We are confident in the viability of our woodworking shop due to the increasing appreciation for handcrafted goods and the trend towards personalized home decor.

With our dedication to quality, sustainability, and customer engagement, we believe we can carve out a niche in the market.

We are passionate about the art of woodworking and are excited to share this with our community, contributing to the enrichment of our customers' living spaces while building a sustainable business.

We remain adaptable to market trends and customer feedback, and we are enthusiastic about the future prospects of our woodworking shop.

You can also read our articles about: - the Business Model Canvas of a woodworking shop - the marketing strategy for a woodworking shop

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a woodworking shop and our financial plan for a woodworking shop .

Initial expenses for our woodworking shop include acquiring woodworking machinery and tools, setting up the workshop space to comply with safety regulations, purchasing quality wood and other materials, specialized staff training for operating equipment safely and efficiently, as well as costs related to brand development and launching targeted marketing campaigns to reach our potential customers.

Our revenue assumptions are based on a thorough analysis of the local market demand for custom woodworking services, taking into account the appreciation for handcrafted wooden items and the current trends in home and office decor.

We anticipate a gradual increase in sales, starting modestly and expanding as the reputation of our woodworking shop grows and we establish a solid customer base.

The projected income statement outlines expected revenues from our woodworking services and product sales, production costs (materials, labor, energy), and operating expenses (workshop rent, marketing, salaries, etc.).

This results in a forecasted net profit that is essential for assessing the long-term profitability of our woodworking business.

The projected balance sheet reflects assets specific to our business, such as woodworking equipment, material inventories, and liabilities including loans and anticipated expenses.

It provides a snapshot of the overall financial health of our woodworking shop at the end of each fiscal period.

Our projected cash flow budget details the inflows and outflows of cash, enabling us to predict our financial needs at any given time. This will assist us in managing our finances effectively and preventing cash flow issues.

The projected financing plan identifies the specific sources of funding we intend to use to cover our startup costs.

The working capital requirement for our woodworking shop will be diligently monitored to ensure we have the necessary funds to support our day-to-day operations, including purchasing materials, managing inventory, and making salary payments.

The break-even point for our project is the level of sales required to cover all our costs, including startup expenses, and to begin generating a profit.

It will signal when our business is expected to become profitable.

Performance indicators we will monitor include the profit margin on our woodworking products and services, the current ratio to evaluate our ability to meet short-term liabilities, and the return on investment to gauge the efficiency of the capital we have invested in the business.

These indicators will aid us in assessing the financial health and overall success of our woodworking shop.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a woodworking shop .

• Choosing a selection results in a full page refresh.
• Opens in a new window.

Woodworking Business Plan Template

Table of Contents

Introduction

Woodworking is an enjoyable and rewarding profession that allows professionals to create beautiful, functional, and unique works of art using wood. Many people are drawn to the craftsmanship of woodworking as a profession not only for the potential profits but also for its therapeutic benefits. The satisfaction gained when creating wooden pieces makes it worth considering a career in this niche market.

Benefits of pursuing a career as a woodworker go beyond simply the financial rewards. Woodworking is an art form and finding joy in aesthetic works can bring immense satisfaction; structural works can be even more satisfying by knowing that their creation will be used by individuals or families for years to come. Professional woodworkers also gain satisfaction from being able to make solutions-oriented projects that perfectly fit the customers’ needs — such items as custom cabinets, tables, beds, shelves etc., rather than relying on mass-produced goods. Working with specialized tools often brings with it unique challenges and opportunities for problem solving, adding another layer of fulfillment. As well, woodworking can provide daily physical exercise from working with heavy machinery and large pieces of lumber – something of particular importance during the pandemic lockdowns we have endured recently. Additionally, there are many exciting job opportunities available including teaching classes and providing consultation services which entrepreneurs may wish to explore if they have already gained sufficient experience to become certified professionals in their respective field.

Advantages of Having a Business Plan Templates

Using a business plan template is hugely beneficial for numerous reasons. It allows entrepreneurs to think critically about their venture and put diligent thought into the myriad of details needed to create an effective plan. The structure provided by a business plan template aids in laying out essential pieces of information necessary for a successful outcome, allowing you to understand better the needs of your proposed venture and how you may go about meeting those needs. Additionally, templates help in ensuring that key items are not left out or forgotten when it comes time to begin operationalizing the plan. Furthermore, having a comprehensive outline of your business can provide clarity on objectives and make certain tasks prioritized so nothing important is missed during startup or operation. By using a plan as a roadmap to follow with clear goals laid out over specific timelines, entrepreneurs have a much easier time getting related tasks done on schedule and establishing its success.

Choosing the Right Type of Template

When creating a woodworking business plan, it is important to choose the right type of template for your needs. Different types of templates can provide different levels of detail and organisation. Some templates contain no more than basic information about the company, such as a mission statement and relevant contact information. Others will provide more in-depth guidance on creating a sound business plan from scratch.

When selecting a template type, consider what level of detail you need to create an effective business plan. Templates that have step-by-step instructions may be helpful if you are new to writing a business plan and need assistance understanding the process. If you already have substantial experience developing plans and the vision for your woodworking business, simpler templates may work better for you as they will allow you to focus on what is most important for your growth and success.

Additionally, some templates also include financial planning aids such as charts and useful tables that help visualize data or gather data quickly into concise documents. These features are especially useful when drafting future goals, forecasts, or budget plans for your woodworking business. Consider using templates with these features if financial analysis is something included in your proposed business plan so that you can accurately track progress and profitability without too much guesswork or effort.

Customizing the Template to Make a Winning Woodworking Business Plan

When using the woodworking business plan template, an owner should make sure to customize the plan to their exact business model. This can include accounting for the scope of their woodworking business, production capabilities, financial investments needed, and market demand. Additionally, owners should make sure to outline their specific goals and objectives so they can accurately measure their progress against them in the future. Furthermore, detailed financial analysis should be provided which includes cash flow projections based on historical trends and any external financing needs.

In terms of operations and management, owners should outline organizational structure along with descriptions of key personnel responsible for carrying out the daily tasks that keep the business running smoothly. Furthermore, every established process should be documented to help potential investors visualize operational efficiency early on. A competitive landscape assessment is another important inclusion for this type of plan as it allows an owner to compare general offerings of similar woodworking businesses in order to identify gaps that could potentially be filled by them. When all these components are included in a comprehensive fashion in a business plan template tailored specifically for a particular woodworking enterprise, it provides enough data for both potential investors and internal stakeholders alike to make decisions confidently with regards to investing into the business or developing new strategies.

Structuring Your Business Plan and Inclusions

A woodworking business plan should include key points and be structured in the following way:

1. Executive Summary: This section is a high-level overview of the woodworking business and includes important details such as your goals, mission statement, and legal entity type.

2. Company Description: This section outlines the specifics of your woodworking business, such as its history, ownership, target market, organizational structure, products or services offered, etc.

3. Market Analysis: Here you can provide an in-depth overview of the current status of the woodworking market – opportunities and trends, competitors in the space and their strategies, growth potential or other factors impacting your industry.

4. Operational Plan: How are you going to produce your product or provide services? Outline production methods or other operational processes here.

5. Marketing Plan: Detail how you’re planning to establish brand awareness within your target market as well as outlining other key marketing objectives and strategies for promotion.

6. Financial Plan & Projections: Include a comprehensive analysis of startup costs (including material costs), recurring expenses (such as rent/utilities/insurance), anticipated sales figures (projected income statements for 12 months) and conclusion summary about estimated profitability about your woodworking business.

Expediting and Executing the Plan

When it comes to carrying out the plan, success is key. The following are a few ideas for expediting and executing the woodworking business plan:

• Define measurable goals and objectives: Make sure all parties involved in the plan agree on specific details necessary for success, such as reaching a certain number of clients or creating a minimum number of products. Create timelines with deadlines for meeting these goals to ensure accountability and performance.

• Set realistic budgets: When purchasing supplies or tools for your business, make sure you’re taking into consideration expenses as well as income. Identify current fixed costs (such as rent or utilities) and research estimates to determine possible future expenditures – such as wages, supplies and building improvements.

• Hire reliable personnel: When searching for new employees, look for candidates who will be dependable team players with skills that match those required by the job description – having reliable personnel will save time while producing quality results.

• Consider strategies for improvement: Constantly evaluate incoming customer feedback to identify weak points in workflow. Brainstorm ways to reduce costs while revenues increase and create plans with actionable steps to implement suggested changes over time. This process should involve employees at all levels since their input can provide insight otherwise overlooked.

• Monitor successes & failures: It’s important to regularly assess how operations are running and review employee performance. Celebrate successes among teams or individuals, and address any issues that may negatively impact production or client experience. Find solutions quickly but make sure not to rush them since ill-advised decisions could potentially do more harm than good in the long run.

Final Words

Having a woodworking business plan is an essential part of starting your own business. A good business plan should cover objectives, strategy and the financial background of your venture. Additionally, you need to include information about the estimated cost, start-up timeline and your marketing strategy. The above template will help you create an outline for your business plan that covers all of the topics mentioned. After completing it, remember to have it reviewed by an industry expert to identify potential areas of improvement or changes that may be needed. Ultimately, taking the time to create this document can increase your chances of success as a woodworker entrepreneur. So take action now and get started on creating a comprehensive, professional woodworking business plan!

Hi everyone! I’m a woodworker and blogger, and this is my woodworking blog. In my blog, I share tips and tricks for woodworkers of all skill levels, as well as project ideas that you can try yourself.

Related Posts:

Woodworking Business Roadmap: Get Yours for Free!

Are you a woodworker ready to launch your business? You deserve a Business Plan Guide that unlocks your carpentry dreams. Grab your FREE Business Plan and shape your timbered success story today.

Business Plan Woodworking Business

Roadmap for your woodworking and carpentry business

Business Plan Woodworking: What You Get

• How to write a business plan for your carpenter shop step by step
• Legal requirements for woodworking businesses 
• How profitable is a woodworking business

This Business Plan Template is Suitable For:

• Woodworking Business Plan
• Business Plan Carpentry Business
• Business Plan Carpenter Shop

Your Benefits:

• Free of cost: Download the business plan template for free!
• Time-saving: Save time and open your business faster!
• Correct data: Avoid unnecessary mistakes!

Get Your Business Up and Running

ZANDURA is the all-in-one desk to get your business up and running. Realize your dream of running an independent and self-directed carpenter shop and get regular input on how to move forward. Why are we doing this? – Because small businesses are the backbone of the American economy.

You might be interested in

Business Plan Auto Repair: Turbocharge Your Business

Get your FREE Download of the ultimate business plan guide for your auto repair shop and car wash center. Unleash the power of a comprehensive business plan to drive profits and outpace the competition!

How To Write A Construction Business Plan

Create your small construction company business plan using our free construction business plan template. We guide you through the steps of taking your business idea from dream to reality.

How To Start a Veteran Business Checklist

As a veteran, you have the potential to be an excellent entrepreneur. However, starting a business in the U.S. can be a difficult and overwhelming experience. Find support for veterans as you enter the world of business ownership.

photo credit: iStock.com/FabrikaCr

How to Start a Woodworking Business (and Make $15K/Month)

We were wondering how to start a woodworking business so we looked for a company that was already a successful woodworking business. We found John Blunt, founder of Seattle-based community woodworking shop  IsGood Woodworks .

John started IsGood in 1992 without accepting loans or investors. Over the years John grew IsGood from a small, self-funded contract woodworking business into an industry-renowned community woodworking shop that generates approximately $2 million in annual revenue.

Woodworking is an undeniably  profitable industry . In fact, the US woodworking industry was already valued at $258.5 billion in 2018 and is expected to reach an astonishing $291.3 billion by 2024. For those who are highly skilled, woodworking is a lucrative industry. Starting your own woodworking business is rewarding for 3 reasons:

• You are your own boss when opening a woodworking business
• Starting a woodworking business provides an amazing revenue stream
• Opening a woodworking business connects you with your community and other business owners.

If you’re ready to start the journey of opening a woodworking business, follow this step-by-step guide on how to start a woodworking business. Let’s get started by discussing how to develop the shop skills necessary to become a world-class woodworker.

Step 1: Develop your woodworking skills

The first step to starting a successful woodworking business is to develop your woodworker skills.

John had already accumulated a lot of woodworking experience prior to starting IsGood Woodworks. In his own words:

If you’re already well-versed in woodworking, then move ahead to step 2.

If you’re looking to build your woodworking skills, the  Woodworkers Guild of America  offers many resources for people looking to learn the basics or expand upon their current skill set.

You should also check to see if your area has any woodworking businesses like Is Good Woodworks where you can become a member and participate in woodworker workshops and classes. If you really want to know how to start a woodworking business, there is no better way to learn than from a small woodworking business owner.

Keep reading for information on what type of small woodworking business opportunities there are.

Step 2: Ideas for Starting a Woodworking Business

In addition to developing the skills necessary when opening a woodworking business, you’ll also need to decide what kind of woodworking business you will open. Woodworking businesses typically fall into several categories:

• Custom Furniture Business – Building furniture that is more ornate in design
• Cabinetry Business – Building storage spaces for a home
• Craft Business – building artistic trinkets, jewelry, and other items out of wood
• Carpentry Business – Building frames of house, windows, and doors according to local code.
• Business Focused on Finishing Work – Working on floorboards, baseboards, and other decorative parts of houses.
• A Woodworking Incubator – IsGood is basically a woodworking incubator. It provides tools and wood for other creators who need a space to start a woodworking business. If your area doesn’t already have a woodworking incubator, this may be a perfect opportunity for small business owners.
• Check out Medium’s Woodworking Blogs for other ideas about opening a woodworking small business.

Which type of woodworking business you want to start will probably be impacted by the demand for the service or products in your area. Let’s look at some frequently asked questions about woodworking.

Who are the major players in woodworking?

According to FDMC 300 annual report, a report by Pollmeier that tracks the sales of cabinet, furniture, millwork, store fixture, home organization, components, and other wood products industries, the top 5 woodworking companies are:

• Ashley Furniture Industries Inc. – $6.32B Furniture
• Steelcase Inc – $3.724B Furniture and Interior Architecture Products
• Andersen Corp – $2.5B Millwork, Windows, and Doors
• Herman Miller – $2.486B Commerical and Residential Furniture and Storage Systems.
• Jeld-Wen Inc – $2.475B Wood Windows and Doors, Millwork, Exterior, and Interior Doors

Furthermore, revenue has to exceed the following amounts to be one of the top woodworking businesses owners:

• Top 15: $1B
• Top 25: $400m
• Top 100: $75m
• Top 300: $10m

As you can see it doesn’t take insanely high revenue to break into the top 300 woodworking business list.

John makes around $15k/mo ( $180k/year). Anyone willing to put in the hard work can make money when you start your own woodworking business from your wood products and woodworking skills.

What is the industry outlook?

IBISWorld , estimates wood product manufacturing is a $6 billion industry, and the top 50 companies only control approximately 30 percent  of the market. That means there is $4.2 billion left for small woodworking businesses.

According to Globe News Wire The construction industry will be growing by about 2.2% for the foreseeable future, but business owners may find challenges in the woodworking business due to labor and lumber shortages.

This suggests that those wondering how to start a woodworking business should factor in higher than normal inflation until the woodworking supply chain stabilizes from pandemic disruptions.

Step 3: Identify the Ideal Target Market

When starting any type of business, you  must  identify your ideal target market, understand that market well, and know how to reach them if you want your woodworking business to succeed. Otherwise, you might not generate enough revenue to keep your doors open!

A great way to identify and conceptualize target markets is creating buyer personas – in-depth, accurate (yet fictional) descriptions of the ideal customer or client you’d like to sell to when starting your woodworking business.

By creating buyer personas, a business owner can paint a thorough picture of the client base to sell your products.

Forbes  provides the perfect detailed guide for putting together buyer personas.

Once you’ve identified your target market, it’s time to perform detailed market research on that audience to gauge their interests. This will help you decide what items to sell (and what materials you’ll need to sell those items).

Customer Base Example 1: Your target audience is well-off adults aged 30-60, they might be interested in smaller household wood pieces such as rocking chairs, dining table sets, or ornate boxes and keepsakes.

What’s more is that after you’ve identified and researched your target market, you can create print and digital advertising materials that cater specifically to that market (and display them in spaces where that market is likely to spend time).

Making Facebook ads (digital) and placing flyers near office buildings or in industry-related publications (print) would be useful for reaching this target market.

If you build a solid enough client base, your business will reap long-term benefits from it. With IsGood, John built such a meaningful client base that it allows his business operations to come full circle. As he says:

For more hacks and tips watch another interview we’ve done with Daniel Westbrook, owner of Westbrook Carpentry and Millwork:

Another client base might be real estate wholesalers who can refer you to contracts they recently sold.

If you think like John when it comes to client and market outreach, you’ll make the right connections when you start your business and grow your woodworking business in no time!

Step 4: Create a Woodworking Business Plan

Use the knowledge you compiled in step 2 to create a comprehensive woodworking business plan for your woodworking shop. The SBA offers a helpful video guide for  constructing a business plan !

In addition to the SBA resources, check out these free business plan templates!

• One-page business plan  template
• Template for a plan generator  by state
• Our Blog: How to Write A Business Plan (Plus Examples and Templates)

Here’s the kicker… In woodworking, building a highly organized business plan is somewhat contingent on funding. John’s advice was:

John started IsGood with practically no funding, but he was able to design a more flexible business plan that worked for him:

Regardless of your situation, your business plan should be adaptable so it can grow with your woodworking business. Just make one!

Identify Potential Challenges You’ll Face as a Business Owner

In case you might be asking yourself: “Will I face any trying challenges when starting my woodworking business?” – the answer is yes.

Without a doubt, any new business owner is going to face obstacles in the startup process – after all, challenges foster growth!

This article from  Small Biz Trends  details the 10 biggest challenges that small business owners face when starting a small business. From government regulation and tax compliance to generating cash flow and expanding client bases.

Perhaps the challenge from this list that is most worthy of mentioning, however, is the 7th one: staying passionate. When asked about any mistakes he made in the process of growing his shop, John responded with:

For John, Making the switch from contract work to opening his shop is what allowed him to remain passionate about his work and to grow IsGood Woodworks into a successful business in turn.

John also noted that one of the biggest challenges he faces as a woodworking shop owner is balancing the needs of each community member with the needs of his community as a whole. As he says:

Step 5: Figure out Your Funding Sources and Budget (i.e., Fund Your Woodworking Business)

There are two essential financial components when it comes to starting your own business –budgeting and finding funding.

Similar to budgeting in your personal life, creating and maintaining a professional budget is a vital component of starting a successful business. The budget should include:

• Costs associated with business licensing
• Costs of any tools and equipment you need
• Costs of liability insurance to protect your business if something goes wrong.
• Employee costs
• Costs of daily operations
• Paying yourself

The initial cost for enough woodworking supplies to get your business going is estimated at $3,500; $2,000 for material costs and $1,500 for power tools. It gets better once you get going!

Another budgeting factor you need to consider now?

Rent. In fact, John says:

For reference, the startup cost for IsGood Woodworks was around $3,000.

Budgeting resources:

• A complete guide to creating your  business budget  and managing expenses
• A breakdown of the  necessary costs  for a woodworking business

You should have figured out how much funding you need based on the budget for your woodworking business, but you can learn how to start a woodworking business without learning more about the funding types.

For funding, you’ll typically want to know how you will cover at least enough to cover the startup costs and the first year’s operating expenses. You can do this through a combination of any of the following:

• Personal funds/personal assets – Most common way business owners start a business.
• A loan from family or friends – If your family can afford to help and believes in the business plan, they may be willing to.
• Funds from a business partner – A business partner can help with the funding but will get a percentage of the earnings. In addition, multiple business owners may complicate decision-making.
• Government programs – There are often government grants for minorities, women, and economically disadvantaged areas. Check the SBA site to see if you qualify.
• Crowdfunding – Pitching your idea and getting retail investors to fund your company.
• Credit cards – Be careful because of high-interest rates, but if you can pay the balance each month, this may be a great way of funding.
• Home equity loan – Taking equity from your home is another option to fund a business especially if current interest rates are lower than your current interest rate.
• Business loan – check out our partners
• Rollover for business startups (ROBS)

You might need to self-fund like most entrepreneurs do. This can be done by tapping into savings or a 401(K), reaching out to family and friends, or – in John’s case – making ongoing investments and working hard to accumulate the funds. As he explains:

You can always reach out to investors or apply for a small business loan, but it is important to bear in mind that IsGood Woodworks grew into a multi-million dollar shop from being entirely self-funded.

What’s the bottom line? Basically, there is no right or wrong way to acquire funds to start a woodworking business – just acquire them!

The SBA provides a comprehensive  business funding  guide that has a lot of good information about getting funds when starting a business.

Keep reading for how to pick a name when your start a business.

Step 6: Pick a Woodworking Business Name

There are several key components that go into the creation of a good woodworking business name. Some of the primary considerations of picking a business name include:

• Does the Name explain the products a woodworking business makes?
• Does the name hint at the business location?
• Does the name make the business easy to remember?
• Is the business name easy to spell?

When picking your business name, make sure it clearly states what your business does (i.e., woodworking/woodworks/etc.) but avoid being too specific – you don’t want to limit your opportunities for growth with a niche name.

You might want to include the word “furniture” if you make custom furniture out of wood, but if you make artistic wood products, you might want to include the word “Craft” in the name when starting a craft business.

Keep it Simple

Don’t pick a name with complicated spelling or confusing presentation – keep it as short and simple as possible.

Stay True to Yourself

Whatever name you choose for your woodworking business, make sure it represents the heart of your company and aligns with the brand you’re trying to cultivate.

Register a Domain

When registering a domain name for your business, always go for a .com.

Both  GoDaddy  and  Instant Domain Search  are great resources for registering a .com domain name quickly and easily – as if that’s not enough, Instant Domain Search will show you what’s available in real-time!

John’s business name (IsGood Woodworks) is so great because it utilizes every component mentioned above.

Once you’ve decided on your business name, registered a domain, and run it by those who will be honest with you, register it with the government. The SBA provides a  useful guide  for how to do this.

Step 7: Create a Legal Structure for a Woodworking Business

When starting any business, you absolutely have to sort out the legalities. This isn’t the fun part, but it  is  required if you want your business to take off!

It is crucial that a woodworking business make it a point to follow all legal requirements when starting a business. Depending on the kind of business you start, you may be working in other people’s homes or have employees that could get hurt while working with wood, power tools, and other equipment.

I’ve broken it down into two essential components for any up-and-coming woodworking business owner.

Develop a Legal Structure

You can develop a legal structure on your own, but it’s encouraged that you work with an accountant, attorney, tax specialist, or government official of some kind for the best outcome.

The most common legal business entities are sole proprietorships, partnerships, LLCs, and corporations.  Our partners at Better Legal can help you set up your business legal structure.

Sole proprietorship

A sole proprietorship means the business owner is entitled to all of the profit (i.e., pass-through taxation) but is responsible for all potential risk and debt. For this reason, a sole proprietorship is not the way to go when starting a woodworking business.

If someone gets hurt, it will impact your personal life because your personal finances and your business finances are tied together. you can lose everything from one accident that occurs when someone is working with wood products. It’s just not worth it.

Partnership

A partnership is any informally organized business owned by 2 or more people. Similar to a sole proprietorship, partnership owners are to be held personally liable for any actions taken against the company.

Limited Liability Company

An LLC  (Limited Liability Corporation)  is a legal business entity that offers personal liability protection for the business owner while simultaneously offering pass-through taxation.  Limited liability companies can be single or multi-owner LLCs, making them a great way for a woodworker to start a business.

LLCs will typically need to have an operating agreement especially if the business is a multi-owner LLC.

Most woodworking business owners are encouraged to establish their business as an LLC because of the heightened risk of product liability, workplace injuries, and property damage.

Corporation

Establishing a corporation means limited personal liability protection and tax benefits. However, corporations are required to follow more operational guidelines than LLCs. They also incur double taxation, meaning you’ll have to pay income tax and corporate tax.

Obtain Business Licenses, Permits, Tax Forms, and Insurance

Regardless of the legal structure you implement, find out if your woodworking company requires any business licenses, tax forms, or permits to operate legally.

This  SBA tool  will help you when it comes to applying for a business license or permit.

Some of the most common requirements for a woodworking business include:

Sales Tax Permit

Unemployment insurance.

• General Liability Insurance

Keep reading for references on how to make sure your furniture or craft business is running legally.

Most states have a sales tax, and you need to adhere to their requirements. This blog isn’t the place to discuss the permits for all 50 states, but Avalara has a guide on Sales Taxes . Check it out.

Some states will only charge tax on the material costs, while some will charge tax on the wood products and the revenue from labor. Before you start your business, make sure you understand how sales tax works in your area so you don’t pay too little or too much.

Unemployment insurance protects employees if they are laid off. While we hope your woodworking business will not have to lay off employees, recessions occur. The U.S. Chamber of Commerce has a ton of information on unemployment and also offers links to each state agency that handles state unemployment.

You’ll have to pay $420 per employee on a federal level plus any state UI.

Business Insurance/ Liability Insurance

Business insurance is necessary to protect woodworking businesses when accidents occur. The primary types of business insurance include:

• Business General Liability Insurance – For when costly damage occurs to a person or their property.
• Professional Liability Insurance – If you do the structural analysis for a home and then the structure collapses you might need this type of business insurance.
• Cybersecurity insurance – if your woodworking business handles sensitive data like credit cards, social security numbers, and other information hackers might want you might want this type of business insurance.

Most of these types of business insurance should be readily available from your local insurance agent.

Now that you are familiar with the legal requirements of starting a woodworking business, let’s look at some of the things you’ll need to do before your woodworking business is ready to take on clients.

Step 8: How to Start a Woodworking Business

Here’s the deal: starting a woodworking business requires a lot of leg work. You can’t run a successful woodworking business without considering:

• Find a Location
• Purchasing tools and equipment
• Materials costs
• Implementing the business systems
• Following safety and ethical business practices
• Establishing a pricing structure

There are many moving parts when you start a woodworking business. John told us some of the most challenging aspects of how to start a woodworking business including:

That means most of the skills John needed to learn weren’t the operation of power tools and the basics of running a workshop. They were the soft skills of business management.

For extra help understanding the process, of how to start a woodworking business, check out our step-by-step YouTube guide on  how to start a business !

Keep reading to learn how to find a location for a woodworking business.

Find a Location for your Woodworking Business

Finding a location for your woodworking business will often need to be done sooner or later. You might be lucky enough to start a woodworking business from home, but as a small home-based business grows, new business owners will need to find a location for their woodworking business.

That said, it’s better to establish your funding sources, budget, and legalities first. It can be helpful to research the costs of a location before you start a woodworking business because customers are often resistant to paying higher prices because you purchased a workshop.

Include the costs of starting a business location in your pricing method, which we’ll discuss later.

There are a handful of factors involved in picking the right location – refer to this  SBA business location guide  for more information.

With some hard work and luck, you might be able to find a location as quickly as John did for IsGood. In his words:

Acquire Tools and Materials for Woodworkers

From backsaws to sanders, to wood products, you cannot operate a successful woodworking business without acquiring all necessary tools and materials first!

Before starting your woodworking business, consider obtaining the following tools and equipment to work with wood:

A table saw is the first piece of large equipment you should purchase as a woodworker. A woodworker will need a table saw to make precise, straight, smooth cuts on wood boards of different sizes.

Unlike a table saw, a backsaw is a hand tool that is characterized by a stiffened rib running alongside the edge opposite the cutting edge. Though it isn’t quite as precise as a table saw, it’s much easier to use on wood products when on a job site or in tight areas where power tools may be more dangerous.

Orbital Sander

An orbital sander is a handheld sanding power tool and a cheaper, easier-to-use alternative to a belt sander. Belt sanders move more quickly and abruptly along the wood, so orbital sanders are better power tools for new business owners that are still developing their skills.

Circular Saw

The circular saw is one of the most versatile tools you can have in your shop. Circular saws can be bought as stationary or portable tools. These tools serve many different purposes but are particularly good for cutting large wood boards.

The king of tools. It might seem obvious, but having a high-quality hammer (or multiple) in your shop is essential. It will last you a long time and cause less fatigue than cheap tools.

Routers are handheld tools that can be used to carve patterns, designs, and grooves across multiple pieces of wood. Even better, you can use these tools to recreate patterns from broken pieces.

Clamps are a must when it comes to building projects in the shop, as they hold different components together before the final product is assembled. Always buy more of these tools than you think you need because you WILL need them all!

Dust Collector

If you want to maintain a clean, safe shop, you need to purchase a dust collector (which does exactly what it sounds like). However, you can always use a vacuum cleaner in the meantime. These tools are essential when working with wood in customers’ homes.

Chisels are inexpensive, highly useful handheld tools used to cut and shape wood. Because you’ll want them to be as sharp as possible, try to buy a high-quality set. These are great when building custom furniture or small wood products that need exquisite detail.

Measuring Tape

As the most affordable item on this list (like $10 affordable), the measuring tape is invaluable to a woodworker. Consider upgrading to a woodworker’s ruler or measuring block after a while for more accurate measurements.

Thickness Planer

If the job involves finishing work, a planer is an arguably essential tabletop tool used to trim the wood down to a consistent thickness. Be careful with planers, though, as it’s easy to accidentally waste wood while using them.

Somewhat similar to a planer, a jointer is used to produce perfectly flat edges on wood boards so that they can be connected edge-to-edge. Some woodworkers call this tool a necessity, while others avoid it.

Whether you are a home-based business working out of your garage or a busy workshop, you MUST have a dedicated bench for conducting your woodworking projects. The best part? You can make your own out of wood for under $200! Check out this super sweet rolling workbench with extra storage space for wood, tools, and other commonly used materials.

For more information, here is an in-depth list of  27 essential woodworking tools .

Material Costs

Material costs will include:

• The cost of wood
• The cost of dowels
• The cost of wood glue
• The cost of screws and nails
• Cost of stain/paint and other types of wood coloring
• Cost of sealants
• Other wood materials and accessories

For each job, you’ll need to consider the materials you need and the cost associated with them. If you want a good reference point for materials cost in different industries, check out the Ready Ratios website for the typical gross sales margin:

Gross Margin=(Sales-Expenses Attributable to Sales)/Sales

Depending on what type of products you sell, the Gross Margin will be between 10-40% of revenue. Businesses will often sell products based on (2.5x Cost of Goods Sold) to make sure that the gross margin will guarantee the gross margin creates the profit they want for each product they sell.

Check out this Lumen Learning tutorial on estimating projects for custom furniture to understand more about estimating based on material costs.

Keep reading for tips on how a woodworking business manages its customer base.

Hire Woodworkers and Other Employees

Hiring employees is more than likely going to be a necessity after some time because running and performing woodworking aspects of a business is hard labor. And after all, what business owner doesn’t want the opportunity to take a break from running their woodworking business every once in a while?

Of course, there are a handful of expenses that come along with hiring employees for your own woodworking business. That said, it is imperative that you take the following steps.

Pay the employees of your woodworking business.

Employee compensation will be your biggest expense here – they want to make money just as you do. This expense shouldn’t be a problem if you’re generating solid revenue and don’t require much staff.

Because of the structure of his shop, John only has two employees working at IsGood Woodworks – the three of them are able to teach classes and run the business efficiently!

Get an EIN for Your Workshop

Every business operating in the United States needs an employer identification number. It doesn’t matter if you are running a home business, operating on a free business license, or trying to create the next billion-dollar furniture business, you have to have an EIN.

An Employer Identification Number (EIN) is basically a social security number for businesses. Just like an SSN, an EIN is necessary to have; you’ll need it to open a business bank account, file tax returns, and apply for business licenses.

Apply for an Employer Identification Number (EIN) with the IRS – alternatively, call 800-829-4933 for more information.

Maintain Tax Filing Requirements for Your Woodworking business

As a new business, federal and state guidelines will require you to keep a record of employment taxes for at least 4 years. Luckily, a complete  IRS tax filing guide  is available.

Follow Federal Employment and Labor Laws

The DOL requires many small business employers to display poster notices for employees, either electronically or physically in the workplace.

A comprehensive  employer guide  for how to display and distribute these posters is available on their website.

Other Requirements

• The  Federal Unemployment Tax Act  (FUTA) requires any business with employees to pay a payroll tax.
• Employment Eligibility Verification (Form I-9) allows business owners to verify the identity and employment clearance of every person they hire.
• Meeting Occupational Health and Safety Administration ( OSHA ) standards enforce workplace safety and are necessary for any business (and highly relevant in an industry as physical as woodworking).
• Worker’s Compensation Insurance is a must in woodworking, as it helps businesses avoid the cost of an employee’s medical bills and lost wages following a workplace injury.

Implementing the Business Systems for A Woodworking Business

Before opening a woodworking business, you’ll need business systems in place to:

Sell your products (typically a website)

Manage customers information, accept payments, keep track of inventory.

• Manage human resources.

Marketing Systems

Let’s look at each of these to help you understand how to start a woodworking business.

When you start a woodworking business, you will need to have a website. It provides a place for your customers to interact with your business. What type of website you’ll need depends on whether you are selling products online or just creating a web presence.

eCommerce: Sell products online

If you’ll be selling products online, you’ll need an eCommerce site like those found on Shopify . These sites have extensive backends and APIs to make conducting business such as managing inventory, accepting online payments, and handling sales tax requirements easier.

In addition, e-commerce sites have product pages, collections to classify products such as wood jewelry, wood furniture, and home decor.

Websites to maintain a web presence

If you aren’t selling products online, you should still have a website, but it won’t need as many features. Websites are one of the best ways to create a web presence and are easy for a business to maintain.

All they really need is some pictures, descriptions of your services, some information about your company, and ways to contact you. Check out our blog How to create a website to learn more about building websites.

You’ll need to keep track of customers interactions with your business. Maintaining customer data is normally done through software called a CRM (Customer Relationship Management). Capterra is a great place to r ead reviews of CRM to establish which will work best for your business.

CRM can be integrated with email, phone calls, payment processors, your website, and almost anything else that is software-based.

Accepting payments for a woodworking business is typically done 3 ways:

• Through website
• Through a Point-of-Sale System (POS)
• Through a mobile card reader

Depending on your business model you may need all three, but many businesses only need one or two of the option. For instance, if you don’t have a store a customer comes to, you can skip the POS.

Paypal handles most small business payments, but Square , and other providers are available as well. Until you are making over $250,000 there is not much difference between the payment processors. If you scale past that, some of them offer custom rates.

Keeping track of inventory can be a real challenge especially for a woodworking company where you have oddly shaped pieces of wood. Some of the aspects you should track in woodworking include:

• Purchased materials
• Scrap that will go to waste (Unless you are running a business like John that lets other craftsmen use the scraps in exchange for their membership dues).
• Finished products.

Each of these will go into your accounting. There are various ways to monitor them including:

• Hand counting
• Using scales to detect changes in weight
• Connection to POS so that every time a sale is made changes are counted.

A business will often need to use a combination of strategies to minimize the work from a manual hand count, but verify that the electronic strategies are accurate. Using multiple strategies can reduce hand counts from once a week to quarterly or annually.

Manage human resources

Once you have employees, your business will need to manage human resources. This includes aspects such as payroll, tax filing, and documentation. I suggest paying a human resource company to manage it once managing human resources starts taking more than 5 hours per month. Check out Capterra’s comparison of HR companies .

There are a ton of free marketing tools to use. You should familiarize yourself with them or hire someone who specializes in marketing woodworking businesses. Some of my favorite marketing tools are:

• Google My Business – Shows a listing on Google Search and Google Maps for your business
• Google Analytics – Data analytics that you can connect to all your web assets. ( Make sure to exclude your network IPs from the tracking)
• Facebook Pixel – Facebook’s data tracking. If you are good with development, you can include a separate pixel for each product or service your woodworking business offers to have more detailed analytics.
• Open Broadcaster Software – Great software for creating videos, podcasts, and live streams.
• Social Media – Facebook, LinkedIn, YouTube, Instagram, Tiktok, Pinterest

All these providers have extensive help sections to help business owners and their employees learn more about how to maximize results with their software. Just go to their help features and it will give you great links for anything you need to know.

Print materials like business cards and flyers still work well for businesses too.

Follow Safety and Ethical Guidelines for Woodworking Businesses

It’s time to get serious. As an employer, following safety and ethics guidelines is critical in the woodworking industry as you will more than likely have employees working under you in risky conditions.

In case you might be asking yourself what exactly a “risky condition” is, physical dangers in this profession include:

• Severed fingers
• Skin and respiratory diseases (from wood dust and chemical exposure for finishing)

Of course, there are many measures that you can (and should) put in place to avoid extreme worker injury and illness. Obeying ethical guidelines as a woodworking shop owner includes the following:

• The development and implementation of written safety and emergency response procedures
• Providing thorough worker orientation, training, and supervision
• Executing a process for identifying, evaluating, and controlling any workplace safety hazards
• Regularly inspect your workplace, all equipment, and work procedures to help identify any potential hazards
• Investigating accidents (or close calls) to pinpoint causes and prevent recurrences
• Holding regular health and safety meetings for your workers
• Keeping useful records related to workplace health and safety (training processes, safety discussions and inspections, and incident investigations)
• Determining the extent of on-hand first aid required for your shop

The OHSA website provides a comprehensive list of  woodworking safety guidelines  that any responsible shop owner should follow.

Establish a Pricing Structure

If you want to make money, establish a pricing structure that will lead to a successful woodworking business. After all, this is an essential component to starting and managing a lucrative business. When it comes to pricing, there are 2 factors to consider above all else:

Competitors

Conduct thorough research on top market competitors in the industry (e.g. Rockler).

You can start by checking out the  top 20 woodworking companies  in North America and a longer list of  woodworking competitors  – look them up, examine their pricing models, and make yours even better!

Cost and Labor

Not only is it important to research the competition – you have to ensure that you’re making a profit off of whatever you sell.

This informative guide from  The Wood Whisperer  provides new business owners with the perfect pricing formula: materials cost (+10%) + (hourly rate x project hours)

Step 9: Have a Solid Brand and Marketing Strategy

Having both a strong brand and a working marketing strategy in place for your business is crucial if you want to see real profit growth.

When developing a working marketing strategy for your business, it will help you greatly to:

• Create a social media following (Facebook, Twitter, LinkedIn, maybe even Instagram). Start a woodworking blog and invite those in your network to read it. Advertise it to your target audience.
• Design a showroom in your shop, even if your shop is your own home. Build some of your key pieces and display them in a way that showcases their utility to customers.
• Send direct mail with shop information to new homeowners in your area. Invest in creating a booklet with samples of your best work to send out.
• Rent space at trade shows, and make sure to choose those that your target audience is most likely to attend (e.g. home remodeling shows).

This  Hubspot blog post  is an awesome reference for small businesses looking to develop or improve their marketing strategy.

You can’t begin outreach until you look inward, meaning that you can’t implement a great marketing strategy without knowing your brand.

Brand development is a vital component in starting and running any successful business; for brand strategy purposes, consider the following:

• Brand Identity – Develop a strong brand identity by defining your brand, establishing clear company values to humanize your business, and differentiating yourself from other woodworking shops.
• Brand Strategy – Perform a  SWOT analysis  of your business to better understand yourself and identify industry threats, produce a clear narrative (where your business is at now versus where it’s headed), and construct a strong visual brand.
• Brand Loyalty – Be transparent with your customers; provide authentic customer service, listen to and engage with them regularly (on social media and in-person), and always deliver high-quality products.

For visual brand development purposes, check out this woodworking business logo generator!

John does a great job when it comes to combining digital marketing for IsGood with community engagement. In his words:

Like John, try to prioritize digital strategy development – it is 2021, after all! Keep everything as up-to-date and relevant as possible to ensure audience engagement.

Both  Canva  and  Piktochart  are wonderful, easy-to-use resources for creating your own digital and print marketing materials. Want to know the best part? They’re free to use!

Step 10: Make Your Business Stand Out

Money flows when your business grows, and your business grows when it’s noticed!

For a small woodworking business, there are several ways to stand out among the competition and distinguish yourself as a worthy competitor in the industry.

Find a Niche

Finding a  niche that works  for you is the key to operational success for small woodworking business owners.

Whether it be a product type (e.g., chairs, high-end frames, birdhouses, tables, keepsakes) or a skill set (e.g., restoration and repairs, because many woodworkers turn these jobs down), there’s a great niche for any shop.

Help Others

This method of making your woodworking shop stand out in the crowd may not seem as obvious, but it is just as necessary.

After all, some of the best clients and professional relationships come from spreading your knowledge and sharing resources with others in the woodworking industry.

Simply put, think of it as networking with a little more generosity thrown into the mix.

John holds the process of helping other woodworkers close to his heart and attributes that to the success of his shop in comparison to others. In his own words:

John became more successful than ever when he transitioned his business from contract work to a community shop that’s primary focus is helping others succeed. As he puts it:

What’s Next?

To recap this step-by-step guide for how to start a woodworking business, ask yourself the following questions:

• Do I have the required skills to start a woodworking business?
• Do I understand the basics of this process?
• Do I know how to create a business plan?
• Will I be able to acquire funding to make a profit/make this business lucrative?
• What are the costs?
• Where will my business be located?
• Will I be able to acquire the tools and materials needed?
• Will I be comfortable communicating with clients?
• Can I afford to hire employees when necessary?
• Why am I starting a woodworking business?
• Do I need any additional help or advice?
• How can I develop a working brand and marketing strategy?
• What exactly must I do to be successful?

By now, you should have all of the knowledge about how to start your own woodworking business – it’s time to take the next step!

If you after reading this, you don’t think starting a woodworking business is right for you, there are a ton of other options. You can:

• Buy a business through our Businesses for Sale
• Learn about starting a food truck
• Consider starting a screen printing shop .

Let us know in the comments below if you have any questions. We’d love to help!

80% of businesses fail... Learn how not to.

Learn from business failures and successes in 5 min or less. The stories, frameworks, and tactics that will make you a 10x better founder.

Brandon Boushy

Related articles

How to Start a 7-Figure Cell Phone Repair Business (2024)

How to Start a Business With No Money (In 2024)

How to Open a $2M/Year Restaurant (2024)

i have got good understanding on wood working .thank you

GXUCNC represent a reliable CNC and laser equipment manufacturer that produces high-quality products and solutions with endless potential. We can help you with the installations and support backed by decades of experience. If you have any requirements on laser welding sheet metal , please let us know.

Become a business owner in less than 90 days

Start your 10-day free trial of the UpFlip Academy and learn how to start your own business from scratch.

Get business advice straight to your   Inbox 

tedwoodguides.com

This domain has expired. Is this your domain? Renew Now!

Get a new domain registered at NameSilo.com. Find out who owns any domain name with the WHOIS tool.

This webpage was generated by the domain owner using Sedo Domain Parking . Disclaimer: Sedo maintains no relationship with third party advertisers. Reference to any specific service or trade mark is not controlled by Sedo nor does it constitute or imply its association, endorsement or recommendation.

Woodworking Business Plan Template [Updated 2024]

I. Executive Summary

This Section's Contents

Business Overview

Products served, customer focus, management team, success factors, financial highlights.

[Company Name], located in [insert location here], is a woodworking company that focuses on providing beautifully carved wooden decoration pieces and sculptures, wooden chests, small wood furniture and wooden toys to its customers in the surrounding community. The Company’s goal is to become one of the leading wood production brands and compete with the leaders in the industry not only in the United States but also on the global stage in the near future.

[Company Name] will provide high-quality woodworking products for its clients, which include:

• Beautifully carved wooden decoration pieces and sculptures
• Wooden chests
• Small wooden furniture
• Wooden toys

[Company Name] will primarily serve the residents within a 10-mile radius of the shop location. The demographics of these customers are:

• 42,450 residents
• Average income of $85,000
• 51% in Mgt./Professional occupations
• Median age: 35 years

[Company Name] is led by [Founder’s name], who has been in the woodworking industry for [x] years. [Founder] is a certified and licensed designer. He has extensive experience in the arts and crafts industry, working for leading brands prior to starting his own woodworking company. He will have the help and support of his business partner, [Insert Name], who will handle the marketing and admin tasks for the company.

[Company Name] is qualified to succeed due to the following reasons:

• There has been significant growth in the woodworking industry over the past few years. In addition, the company surveyed the local population and received highly positive feedback pointing towards an explicit demand for the products, supporting the business after launch.
• The management team has a track record of success in the woodworking business.
• The Company will use high-quality and exceptional woodworking materials which are environmentally friendly.
• Woodworking companies are a proven, successful business in the United States.

[Company Name] is currently seeking $200,000 to launch its woodworking shop. Specifically, these funds will be used as follows:

• Build-out and Startup costs: $150,000
• Working capital: $50,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Comments are closed.

Woodworking Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

Need a business plan? Call now:

Talk to our experts:

• Business Plan for Investors
• Bank/SBA Business Plan
• Operational/Strategic Planning
• L1 Visa Business Plan
• E1 Treaty Trader Visa Business Plan
• E2 Treaty Investor Visa Business Plan
• EB1 Business Plan
• EB2 Visa Business Plan
• EB5 Business Plan
• Innovator Founder Visa Business Plan
• UK Start-Up Visa Business Plan
• UK Expansion Worker Visa Business Plan
• Manitoba MPNP Visa Business Plan
• Start-Up Visa Business Plan
• Nova Scotia NSNP Visa Business Plan
• British Columbia BC PNP Visa Business Plan
• Self-Employed Visa Business Plan
• OINP Entrepreneur Stream Business Plan
• LMIA Owner Operator Business Plan
• ICT Work Permit Business Plan
• LMIA Mobility Program – C11 Entrepreneur Business Plan
• USMCA (ex-NAFTA) Business Plan
• Franchise Business Planning 
• Landlord Business Plan 
• Nonprofit Start-Up Business Plan 
• USDA Business Plan
• Cannabis business plan 
• eCommerce business plan
• Online Boutique Business Plan
• Daycare business plan
• Mobile Application Business Plan
• Restaurant business plan
• Food Delivery Business Plan
• Real Estate Business Plan
• Business Continuity Plan
• Buy Side Due Diligence Services
• ICO whitepaper
• ICO consulting services
• Confidential Information Memorandum
• Private Placement Memorandum
• Feasibility study
• Fractional CFO
• How it works
• Business Plan Templates

Woodworking Business Plan Example

Published Sep.04, 2018

Updated Apr.24, 2024

By: Noor Muhammad

Average rating 4.8 / 5. Vote count: 6

No votes so far! Be the first to rate this post.

Table of Content

Do you want to start woodworking business plan?

Do you want to start a woodworking business? The business has a widespread market and inclusive demand throughout the year, as there is a substantial category of people which never compromise on spending money to adorn their property with high-quality artistic wooden pieces. So, it can the most righteous and profitable business for you, if you are a creative carving master, and have good management skills too.

Before starting a custom woodworking business , you have to make a thorough business plan covering all the details about how you will start and run your business. To guide you about the startup costs, the employees and tools you will need and the competitive aspects you have to come up with, we are providing the sample business plan of a woodwork business startup named, ‘Logan Woodcraft’.

Executive Summary

2.1 the business.

Logan Woodcraft will be a woodwork company with its outlet and workshop combined, located on the Strip in Las Vegas. Company will be owned by Christopher Logan and will be licensed from the authorized wood suppliers to buy wood and the required machinery for woodwork. Logan’s serving as an interior designer for the last 4 years, have helped him in knowing even the tiniest detail about how to get into woodworking business.

2.2 Management

Logan has prior experience of working with wood, still, he has decided to organize each and everything before starting a woodworking business . The company will buy the wood from the suppliers and will hire some carpenters and artists to work on Logan ideas and the orders of interior wooden designs desired by the people.

2.3 Customers

Majority of the people decorate their property like decks, terrace, staircases, lawns, balcony and kitchens etc. with wooden adornments. Many just buy the beautiful wooden pieces and decorations for placing inside their houses. As the Strip is the center of entertainment palaces and luxury hotels, so our customers will not only be the residents of the city but also the tourists and the managers of resorts and palaces.

2.4 Target of the Company

Our business targets are as follows:

Company Summary

3.1 company owner.

Christopher Logan will be the owner of the company. Logan is a famous interior designer, crafting unique items of wood is Logan’s hobby, even some of his handmade wooden sculptures were kept in the International Woodworking Fair last year.

3.2 Why the Business is being started

Logan has been related with making designs, and artifacts since his childhood. He is called by various shows and programs to give interior designs ideas. By starting a woodwork business, Logan wants to use his experience, skill, and passion on a larger scale to earn profit.

3.3 How the Business will be started

Logan has done a great research on how to start a woodworking business , his first decision was to open the outlet in a strategically most visited area. To start the business, he’ll hire carpenters, artists, salespersons etc. and will buy the required inventory and tools. The startup requirements are as follows:

The detailed start-up requirements and liabilities as forecasted by experts is given below:

Services for customers

As the woodwork business offer a wide range of opportunities so, you must decide your service s before setting up a woodworking shop and focus on just enhancing those services in the early stages.

The products and services that Logan Woodcraft will keep at the shop are:

• Beautifully carved wooden decoration pieces and sculptures
• Designated wooden chests
• Designated wooden cradles
• Wooden toys
• Wall to wall woodworking

Logan Woodcraft’s major serving will be adorning the stage and sets with beautiful woodworks in events and programs. The company will also take orders on doing interior wood designing in the residential or commercial buildings.

Marketing Analysis of Woodworking Business

The most significant part in developing a woodworking business plan  is its accurate marketing analysis. Knowing the customers’ demand before you start your own woodworking business is really helpful in deciding your services and sales strategy for business .

excellent work

excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!

Before writing a carpentry business plan , you must go through sample woodworking business plans  available online. However, if you want to start woodworking business  on a larger scale then you must seek the services of professional marketing analyst to do accurate marketing analysis for your business.

5.1 Market Trends

The business of woodworking is in great demand and keep blooming throughout the year especially in well-established areas or in most visited places. According to IBISWorld, there are more than seven thousand woodworking businesses running in the United States, generating a revenue of $8 billion annually. The business is responsible for employing about 38 thousand people and carpenters around the country. Above all, the demand of this business is rising day by day as reported by the same source, that the business is growing at an annual rate of 4.5 percent. All these statistics are a proof that you won’t be at loss provided that you plan and market your business successfully.

5.2 Marketing Segmentation

Considering the wider audience and large market demand, Logan had hired an expert marketing analyst, who has identified the following categories as his target audience.

Business plan for investors

The detailed marketing segmentation of our target audience is as follows:

5.2.1 Individual Buyers: Logan Woodcraft will present beautiful pieces of architecture made of wood. The residents and visitors of our vicinity will surely like our wooden decoration pieces and small and large sculptures for keeping in their houses as well as for giving gifts. We expect that this category will also buy our wooden chests, cradles and our other elegantly carved wooden products and will avail our services of decorating their lawns, and galleries.

5.2.2 Institutions & Companies : To maintain a decent environment, educational institutes, offices, and companies prefer woodwork for interior designing. To let such people, know about our skills and ideas of decorating their offices, terraces, lawn’s boundaries, staircases, and doors etc. we’ll send them our brochures and offer them discounts to try our services.

5.2.3 Resort & Event Managers: A significant portion of our target customers will be comprised by the restaurants or bar managers who need modern and unique ideas to decorate their lodgings with wood. We’ll have discounts and special offers for them if they avail our services for adorning their interior and exterior and for making wood designated sets for major events.

5.2.4 Production Designers & Art Directors: Considering the fame Logan had gained after arranging some sets for T.V. shows broadcasting, our marketing analyst also identify the art directors as our target group. For shooting and designing the sets and props those directors will surely avail our services.

The detailed market analysis of our potential customers is given in the following table:

5.3 Business Target

We aim at becoming the most renowned and the most visited woodworking shop in the whole Las Vegas. Our target is to gain popularity among our customers so that they always consult our services whenever they require woodwork for their estate or for hosting events and programs. Our financial goal is to balance the costs of our startup within the three months of our launch.

5.4 Product Pricing

Setting the prices of products and services is undoubtedly the most challenging part while starting a new business, as it is difficult in the initial stages to earn a profit while keeping low prices. You can have an idea of the wooden product prices by going through any woodworking business plan example available on the web. In this woodworking business plan sample , we are providing the pricing scheme of Logan Woodcraft.

Logan has decided to offer various discounts on his servicing to the managers and art directors so that they won’t hesitate to try our servings. The prices of wooden products are also kept slightly lower than our competitors to gain more customers, as the thing that drive the customers inside a new shop is its extraordinary appeal or low pricing.

The most important part after starting a small woodworking business is to advertise your services to let your target customers know about you. In fact, there are more chances of a startup to end as a failure if its owner failed to market his products and services. After starting a woodworking shop, you must pay attention to make an effective sales strategy to increase your sales and profit.

6.1 Competitive Analysis

Our biggest competitive advantage is the reputation of our owner, known for his unique and incomparable design ideas. Logan got familiarity in Las Vegas after the wonderful sets he made for the television shows broadcasting. Secondly, we are in a location which most people visit throughout the year. Whenever the tourists or visitors see a glimpse of the display and appeal of our entrance and products, they will surely buy at least a small wooden decoration piece or sculpture from our shop. Another competitive advantage is our beautiful entrance and doorway of our outlet. We have done appealing wooden work on our exteriors to attract the customers towards our shop.

Lastly, we have displayed some of our best items on our website so that all people can get a know-how about our distinguished work.

6.2 Sales Strategy

To advertise our services and products, we’ll post the photos of our best and unique items on our website. We’ll also advertise the interior designs we had made with wood, through social networks, posters and brochures. To encourage sales company will offer discount on all servicing during the initial stages of the launch.

6.3 Sales Forecast

Considering the market demand and the beauty of our products, our sales pattern is expected to increase with years. Our experts have forecasted the following sales on yearly basis which are summarized in the column charts.

6.4 Sales Monthly

6.5 Sales Yearly

Personnel plan

Personnel plan is really the footstep for the success of a business. The success of a business varies with the dedication of its employees. If you want to know about how to start a small woodworking business and that how many persons will be required to start a woodwork business, you can take help from this sample business plan on how to start a woodworking shop  written for Logan Woodcraft.

7.1 Company Staff

Logan is all-in-all in carving wooden products and making unique designs, he needs a staff for working on his ideas, so he has decided to be in the production center and not be the manager himself. He’ll hire the following persons:

• 1 General Manager to manage the operations
• 2 Accountants to maintain financial records
• 3 Artists/Designers for presenting and drawing new designs
• 8 Carpenters for woodworking
• 4 Salespersons to operate display centers
• 3 Sales and Marketing Executives responsible for delivering products to retailers and discover new ventures
• 2 Technicians for maintaining machines
• 2 Drivers for transporting wood and other material
• 1 Front Desk Officer to act as a receptionist for receiving interior design orders
• 2 General Workers for routine tasks

7.2 Average Salary of Employees

Financial Plan

To estimate the woodworking business profit , you have to devise a comprehensive financial plan. An effective financial plan forms the base of the success of a startup and helps in evaluating the woodworking business margin and financial turnouts. Making a financial plan helps you by guiding that how you can be able to balance the startup costs, the salaries of your employees and the costs of raw material with the profits earned. The company will be financed by Logan himself since he was unaware of the statistics and trends of formulating a financial plan, so he hired an expert financial advisor to make a detailed financial plan for his business. You can also take help from this sample business plan of Logan’s Woodcraft, as we are providing it free of cost.

8.1 Important Assumptions

8.2 Brake-even Analysis

8.3 Projected Profit and Loss

8.3.1 Profit Monthly

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

8.6 Business Ratios

Download Woodworking Business Plan Sample in pdf

OGScapital staff also specialize in compiling such as manufacturing business plan , coal mine business plan , business plan for a metal casting shop , furniture business plan , firewood business plan , skateboard store business plan , help to draw up a business plan for a bank loan and etc.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

Bowling Alley Business Plan Sample

Nightclub Business Plan (2024): A Comprehensive Guide

Rabbit Farming Business Plan

Beverages Business Plan

Private Schools Business Plan

Business Plan for a Lounge

Any questions? Get in Touch!

We have been mentioned in the press:

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Search the site:

• Pocket-Hole Jigs
• Jig System Components
• Pocket-Hole Screws & Plugs
• Commercial Machines
• General Joining
• Screw Selector Tool
• Pre-Cut Projects

• Band Saw Cutting
• Circular Saw Cutting
• Miter Saw Cutting
• Table Saw Cutting
• Track Saw Cutting

• Clamp Accessories

• Routing Systems
• Routing System Components

• Cabinet, Drawer & Shelf Jigs

• Bench Systems
• Bench System Components
• Workshop Accessories
• 3D Workbench Builder

• Best Sellers
• Gifts Under $25
• Gifts to Get Started
• Trending This Month

• News & Media
• Product Registration
• Redeem a Plan
• Request a Catalog
• Become an Influencer
• Discount Programs
• Track My Order
• Shipping & Order Policies
• Product Warranties
• Product Manuals
• Discontinued Products
• Customer Reviews
• Satisfaction Guarantee
• Replacement Parts
• Find a Dealer
• Retailer Request Form

Free Woodworking Plans & Wood Project Ideas

• By Michelle Authorson
• Tags, Categories

Even if you’re new to woodworking or have been creating wood projects for years, having access to quality plans and project ideas is essential for bringing your woodworking dreams to life. We’ve created a collection with hundreds of free woodworking plans and project ideas – ranging from simple beginner projects to more complex designs for experienced woodworkers. Each plan includes detailed step-by-step instructions and materials lists, making it easy to get started on your next woodworking project. Whether you’re looking to build furniture, home decor items or other ideas, we’ve got you covered.

Woodworking projects are an excellent way to create custom home decor. From statement pieces like bookcases to smaller projects like floating shelves and charging stations, these plans offer a range of options that will fit any skill level and style preference. Whether you’re a seasoned woodworker or just starting, these plans will inspire you to create beautiful pieces that will elevate your home decor to the next level.

FLOATING SHELVES

Bookshelves, wall shelves, modern privacy screen, washer & dryer pedestals, battery charging station , entry or mudroom benches, furniture plans.

There’s nothing quite like creating your own custom furniture pieces that fit your unique style and needs. With these woodworking plans for furniture, you can craft stunning pieces that will add value and character to your home. From coffee tables to bedroom pieces, these plans provide detailed instructions, illustrations, and a range of options that will suit any skill level and style preference.

ADIRONDACK CHAIRS

Coffee tables, bathroom vanities, platform beds, outdoor plans.

Add unique and functional touches to your outdoor space with these woodworking plans for garden, patio, and outdoors. From stylish planters and benches to furniture, these plans will inspire you to create beautiful pieces that will enhance your outdoor living experience.

RAISED GARDEN BEDS

Cornhole boards, compost bins, bird feeders, picnic tables, planter boxes, plant stands, patio furniture, closet & storage plans.

Maximizing your storage space is key to keeping your home organized and clutter-free. With these woodworking plans for closet and storage, you can create custom-built solutions that fit your unique storage needs. From innovative shelving units to custom organizers, these plans provide step-by-step instructions, and a range of options that will help you create a space that is both functional and stylish.

CLOSET ORGANIZERS

Closet shelves, firewood racks, laundry basket shelves, upholstered storage benches, custom cube organizers, pot & pan cabinet organizers, blanket storage chest, garage & workshop plans.

Whether you’re a hobbyist or a professional woodworker, having a functional and organized garage or workshop is essential to your craft. With these woodworking plans for garage and workshop, you can create a space that is both practical and efficient. From tool storage to workbenches, these plans provide step-by-step instructions, illustrations, and a range of options that will help you create a space that is tailored to your needs.

WORKBENCHES

Garage shelves, router tables, miter saw dust hood, garage storage cabinets, miter saw station and storage, drop down workbench, yard tool organizer, rolling sheet goods cart, workshop clamp racks.

This website uses first party and third party cookies to improve your experience and anonymously track site visits. By visiting this website, you opt-in to the use of cookies.

Free Downloadable Plans

We’ve been making free plans since 2006 and realize finding all of them in each individual post can be tedious.  So here’s a comprehensive list of all of the project plans we have available to download for free! Most of the recent plans linked here are pdf but some of the earlier projects only have a Sketch Up file. If you are looking for different formats, be sure to look at the Video and Write Up of the project itself.

5 Different Styles of Picture Frames – This is a free sample Guild project.  The Guild is our online woodworking school, so you do have to sign up to view the videos. No credit card is needed.

Shop Cabinets – Video and SketchUp

Glue Caddy – Video and Write Up

Bit Storage Cabine t – Video and Write Up

Resin Cast Memory Frames – Video and Write Up

Make a Kid Size Maui’s Hook From a 2×4 – Video and Write Up

Knock Down Trestle Table – Video and Write Up

Bartop Arcade – Video and Write Up

Castle Bookcase – Video and Write Up

Pet Steps – Video and Write Up

Scrapwood Jewelry Boxes – Video and Write Up

4-In-A-Row Game – Video and Write Up

Convertible Bench – Video, Write Up and additional versions of plans

Barbecue Cart – Video and Write Up

King Size Bed – Video and Write Up

Kids Table & Chair Set – Video and Write Up

Woven Panel Rolling Hamper – Videos and Write Up

Outdoor Sitting Bench – Video and Write Up

Mirror Frame – Video and Write Up

Salt Cellar – Video and Write Up

Kids Kitchen Step Stool – Video and Write Up

Pizza Peel – Video and Write Up (no separate plan for this, cut list is in the write up)

Multi-Function Toy Chest – Video and Write Up

Grasshopper Pull Toy – Video and Write Up

Jewelry Box with Gary Rogowski – Video and Write Up

Tool Storage Cabinet – Video and Write Up *The dimensions for the large lid panel are incorrect in the PDF cut list. They should be 16 1/2″W x 41 7/8″L.

Poker Chip Trays – Video and Write Up

Artist’s Easel – Video and Write Up

Rustic Outdoor Table – Videos and Write Up

The Knife Block – Video and Write Up

Wall-Hanging Magazine Rack – Video and Write Up

Sitting Bench Step Stool – Videos and Write Up

Calendar Frame – Videos and Write Up

Rocking Horse – Video and Write Up

Wall Hanging Tool Chest – Videos and Write Up

Exact-Width Dado Jig – Video and Write Up

Weekend Wall Shelf – Video and Write Up

Lumber Rack – Video and Write Up

Trestle Table – Videos and Write Up

Advent Calendar – Videos and Write Up

Drill Charging Station & DowelMax – Video and Write Up

Low Entertainment Center – Videos and Write Up

Duane’s Steamer Trunk – Videos and Write Up

Contemporary Clock – Video and Write Up

Folding Magazine Rack – Video and Write Up

Gadget Station – Videos and Write Up (There are no pdf or sketch up plans for this project, however there 12 videos that act as plans and is idea behind The Wood Whisperer Guild )

Sculpted End Table – Videos and Write Up (Again no plans but 6 videos that act as the plans)

Pencil Holders – Video and Write Up

Assembly Table Base – Video and Write Up

Torsion Box Assembly Table Top – Video and Write Up

Arts & Crafts Table – Videos and Write Up (no separate plans as the cut list is in the write-up and the 4 videos act as plans)

Butcher Block End Grain Cutting Board – Video and Write Up

Advertisers

Copyright © 2006-2023 The Wood Whisperer Inc. The Wood Whisperer, The Wood Whisperer Guild, TWW, and TWW Guild are trademarks of The Wood Whisperer Inc. All rights reserved.

This site uses affiliate links. Given this, please assume that any links leading you to products or services are affiliate links that we will receive compensation from. However, there are millions of products and services on the web, and I only promote those products or services that I would use personally. The Wood Whisperer abides by word of mouth marketing standards and holds integrity in the highest regard. Should I ever be compensated to write, I will make full disclosure. I always give honest opinions, findings, and experiences on products. The views and opinions expressed on this blog are purely our own. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question. All content on The Wood Whisperer is copyrighted, and may not be reprinted in full form without my written consent.

Privacy Overview

Woodworking Plan Template

Updated on February 21, 2023 By M. K. Farooq Leave a comment

Woodwork is a very common work around the world and even if you live in a country where houses aren’t built with wood panels, you need wood for your kitchen, floors, ceilings, and other stuff. The drawing or detailed plan that provides an idea to the contractor about what his client wants and expects from him is called a woodworking plan.

Types of Woodworking Plans:

• Woodworking plan for small projects
• Woodworking plan for commercial projects
• Woodworking plan for house interior decoration
• Woodworking plan for wooden house construction
• Woodworking plans for DIY projects

Elements of a Woodworking Plan:

Usually, it depends on each woodworking plan which elements will be included in the woodworking plan. For example, if the plan is for house interior decoration, it will include floor sheets and wooden panels for floor finishing whereas if it is for the whole house construction, it includes wooden lengths to construct the main frame of the house. Most of the time the woodworking plan includes:

• Name of the plan
• Type of construction
• Type of wood used in the plan
• Wood specification (i.e. type, measurements, lengths, toughness, and finishing)
• Bonding material needed (i.e. glue, nails, screws, etc)
• A detailed blueprint of the construction plan
• Details about the finishing of the wood plan

How to create a Woodworking Plan?

It depends on each type of construction plan that what kind of wood you want to use in the construction and what kind of project it is. If it is a commercial project, you need to hire carpenters who will tell you about the specification of the project where on the other hand, if you just want to do a project for your child’s school assignment, it is very easy to create a plan.

• Define the type of the Woodworking Plan: This is the first step in order to create a woodworking plan for you or for someone else. This includes the type of project that is going to take place so that the contractor knows what he is doing and what type of labor or material he needs for the project.
• Arrange for Drawings of the Project (i.e. blueprint): Then it is time to see the actual drawing or layout of the project on paper. This way the contractor can easily see what he is going to build and what will be the expectations of the client from him. This way he can also enlist all the required tools, wood panels, and other necessary items for the project.
• Enlist the Materials Necessary for the Project: Once the project type is established, it is time to enlist all the necessary items that are important for the project. For example, the type of wood, number of wooden panels and lengths, glue packs, nails, nail guns, screws, finishing varnish, and most importantly, the number of carpenters necessary for the project.
• Talk about the Starting and Finishing Timeline of the Project: At this step, the contractor defines the starting time of the project and gives a rough idea about how much time it will take to complete the job.

Here is a preview of a Free Printable Woodworking Plan Template created using MS Word,

Here is the download link for this Woodworking Plan Template,

MK Farooq, a Master’s degree holder in Computer Science, is driven by a passion to assist people in their daily tasks through the provision of high-quality documents and templates. With a strong foundation in technology and a keen understanding of documentation processes, MK Farooq has dedicated his career to simplifying the lives of individuals and businesses alike.

Leveraging his expertise, MK Farooq creates meticulously crafted templates and documents that cater to a wide range of needs, from project management to personal organization. His work is not just about providing tools but about empowering users to achieve efficiency and effectiveness in their endeavors.

• Picnic Table Plan Template
• Playhouse Plan Template
• Project Plan Template
• Business Financial Plan Template
• Estate Plan Template
• Workbench Plan Template
• Maurine Viney – 2022-12-21 23:01:57
• Bat House Plan Template
• Capacity Plan Template
• Debt Management Plan Template

Leave a Reply

You must be logged in to post a comment.

• Search Please fill out this field.
• Give a Gift Subscription
• Manage Your Subscription
• Newsletters
• Sweepstakes
• Project Plans

FREE Woodworking Plans

Explore project plans.

Free Woodworking Plans

Download these free woodworking plans for your next project. You’ll find plans for furniture, bookshelves, tables, gifts, outdoor, shop projects, tools, storage, and much more! Our free woodworking plans come straight from the pages of Woodsmith, Shopnotes, and Workbench magazines.

Table Saw Insert

This zero-clearance table saw insert makes it safe and easy to cut thin strips and reduce chipout.

Turning a Platter

Push your skills and create a showstopper. With an ogee below and a curved rim above, this platter will add a natural look and feel to your dinner table.

Logs To Lumber

Whether you're milling your own logs or hiring a sawyer, learn the process for getting usable lumber from trees.

Dovetail Jig

Build a your dovetail jig to make strong, timeless drawer joinery.

Sandpaper Sharpening

Sharp tools get the job done quicker and safer, but you don't need a lot of expensive stones and accessories to get the job done.

Table Saw Makeover

A smooth, clean surface on your table saw is more than just cosmetic, it’s a key factor in better cuts.

Table Saw Tune-Up

An afternoon is all it takes to tune-up your table saw for peak performance and precision results.

Multi-Function Shavehorse

No, this isn’t a woodworking rowing machine. This traditional device helps you get the most from hand tools. Our take on the traditional shavehorse features dog holes, a V-notch for sawing, and a wood screw clamp adjustment.

Affiliate Link

Since you are an affiliate, you can use this url to link people to this page and get credited for it: