I have a small woodworking business and I sell on Etsy. I'm a retired VP of R&D and Operations . I spent a career looking at total product costs and margins. I see people on Etsy all the time that make competitive products to mine and they way undercut me on pricing. Their prices are below shipping costs. They soon disappear from Etsy, but they create a price expectation for the customers. If you aren't making money at a healthy margin it's just not worth doing. Warren Buffett says that less business that's more profitable is better than more business that's less profitable. Low margin high volume is a miserable business model.
You are brilliant. You deserve the success you have. Thank you for sharing. I am a 72 year old seasoned woodworker. Still on the fence about purchasing a CNC. My whole deal is can it make me money.
Good stuff. As a beginner wood worker but not cnc Id like to add to the scrap mistake that I found out quick. Someone like me doesnt have a pile of identical scraps. It's a jumble of different widths and different leanths. I found I spent way too long figuring out how to use each piece. Since then Ive set limits on the sizes I keep and even then think I will make way more by using full boards and batching. I tried making chaos boards from every scrap and found my first glue up took for ever glueing small pieces and sorting them by size and also species so I didnt have large sections that were just two species. That first glue up took as long as all the rest together (another 4-5).
Excellent video! I would love to see an actual end price vs cost of a product- from a block of wood to a completely finished product broken down- also- what is Anthony making for the big craft fair this year?
Looking at all your scraps, I’m in awe. I e noticed a couple of content creators that sold their scraps by the box to get rid of it and also make a small profit. I e also seen on Marketplace some sellers who sell their scraps by the box as well. Maybe you could turn over some of them for people who do smaller projects or have a tough time finding hardwoods. Just a thought.
Great video, the most important imo is NOT CHARGING PROGRAMING...For example, a customer likes my wooden box, and the engraving, but just wants a different font... Great, but I have to make another drawing, another G code, another toolpath... Starting from right now, I'm charging this ! Thanks 👍
Question for everyone. My small business is getting to the point I need a CNC router. I need a 4' X 4' table, it needs to be very accurate within .005" or less, and it needs to have cutter compassion, please give me your thoughts and idea's?
Are you also including waste disposal in your waste margin? This is the saw dust, off cuts, knots, etc. that is not saved for “future uses”. What is the cost to remove the waste from the building site?
Just started making charcuterie boards. Im sure I have close to that 50% waste. Between pin stripes and other strips I like to put 13-19 strips in for looks and the saw makes alot of waste with that many cuts.
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I have a small woodworking business and I sell on Etsy. I'm a retired VP of R&D and Operations . I spent a career looking at total product costs and margins. I see people on Etsy all the time that make competitive products to mine and they way undercut me on pricing. Their prices are below shipping costs. They soon disappear from Etsy, but they create a price expectation for the customers. If you aren't making money at a healthy margin it's just not worth doing. Warren Buffett says that less business that's more profitable is better than more business that's less profitable. Low margin high volume is a miserable business model.
You are brilliant. You deserve the success you have. Thank you for sharing. I am a 72 year old seasoned woodworker. Still on the fence about purchasing a CNC. My whole deal is can it make me money.
Good stuff. As a beginner wood worker but not cnc Id like to add to the scrap mistake that I found out quick. Someone like me doesnt have a pile of identical scraps. It's a jumble of different widths and different leanths. I found I spent way too long figuring out how to use each piece. Since then Ive set limits on the sizes I keep and even then think I will make way more by using full boards and batching. I tried making chaos boards from every scrap and found my first glue up took for ever glueing small pieces and sorting them by size and also species so I didnt have large sections that were just two species. That first glue up took as long as all the rest together (another 4-5).
Another great video. I especially liked the horse barn part. It reminds me of my shop when I cleaned it one day, then worked in it the next day!
Excellent video! I would love to see an actual end price vs cost of a product- from a block of wood to a completely finished product broken down- also- what is Anthony making for the big craft fair this year?
Another nice video. This is good information for anyone trying to make money from their woodworking business.
Looking at all your scraps, I’m in awe. I e noticed a couple of content creators that sold their scraps by the box to get rid of it and also make a small profit. I e also seen on Marketplace some sellers who sell their scraps by the box as well. Maybe you could turn over some of them for people who do smaller projects or have a tough time finding hardwoods. Just a thought.
Excellent video with some sound and crucial business advice 🤙🏼
5:13 can't you use another material besides plastic? or is it the cheapest?
Awesome video! Great idea about charging for CNC time.
Thank you for this awesome video, it has tons of value if just starting up. 🍀💪
A very good video you brought up some good points, stay safe thanks.
Great video, the most important imo is NOT CHARGING PROGRAMING...For example, a customer likes my wooden box, and the engraving, but just wants a different font... Great, but I have to make another drawing, another G code, another toolpath... Starting from right now, I'm charging this ! Thanks 👍
Question for everyone. My small business is getting to the point I need a CNC router. I need a 4' X 4' table, it needs to be very accurate within .005" or less, and it needs to have cutter compassion, please give me your thoughts and idea's?
CIC Academy approved!
Are you also including waste disposal in your waste margin? This is the saw dust, off cuts, knots, etc. that is not saved for “future uses”. What is the cost to remove the waste from the building site?
Thanks for sharing!
Great points
Just started making charcuterie boards. Im sure I have close to that 50% waste. Between pin stripes and other strips I like to put 13-19 strips in for looks and the saw makes alot of waste with that many cuts.
Great info,but if you're just starting out,the big hurdle for me is to get people to buy.
Keep pushing brother. People will eventually buy. I’m making the crossover from Laser engraving. So this is going to be a rocky but exciting journey!