Other Considerations for the Woodworking Business
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Will I need advice on money?
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.