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May 11, 2007, Newsletter Issue #28: Other Considerations for the Woodworking Business
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Tip of the Week
Before you open your own business, consider your equipment and whether or not you're equipped to open a full-time woodworking business.
Do you own all the necessary tools and equipment to undertake your particular type of woodworking? Or will you have to purchase equipment. If you have to purchase new equipment, do you have the necessary funds? Equipping a woodworking shop from scratch can be a sizeable investment. Depending on the size of the shop, it may be wise to consult a professional accountant or financial advisor. The hardest thing sometimes for new business owners is to determine their needs from their wants.
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