Running your own business is great because you get to choose your hours, set your rates and even choose what type of work you want to do. The downside is that with so many options, getting started can feel a bit overwhelming!
Write a business plan
The first thing to do when you’re starting your carpentry business is to write a business plan.
You need to decide what type of work you want to do, in which area or areas, and for which types of customers. It’s a good idea to choose a niche market to work in. Working in a specific niche means that you can establish yourself as an expert more quickly. It also means that choosing things like how to market your business is made easier!
Your business plan should also include an analysis of the market. How much money is there to be made in your chosen niche, and who is your competition? This will help you to ascertain whether your chosen market is a good investment.
Stock up on tools
The next thing you’ll need to do is stock up on essential woodworking tools. You should ensure that you have all of the tools that allow you to work within your chosen niche and tools that will help you in other common areas.
Generally, your niche will be the thing that gets people to hire you, but once they know you and they like you, they will probably offer you any carpentry work that they come across, so it’s good to be prepared!
Insurance and licensing
One of the carpentry business essentials is ensuring that you are properly licensed and insured. Holding a proper license and insurance protects you and reassures potential customers that you can be trusted. In this way, it can generate more business.
Each state has different licensure requirements, so it’s worth checking on what’s needed in your area. However, in general, you will need to:
- Prove that you have experience working as a carpenter.
- Pass an exam to show your level of knowledge.
- Get business insurance.
- Submit a license application along with a fee.
Finally, you will need to let people know that you are in business! One of the most successful ways to market your carpentry business is through referrals. People tend to trust contractors who have been recommended to them by other people, so it’s a good idea to make referrals your priority.
You can do this in simple ways, like leaving your clients with pens that have your company details on them so that they have the information on hand if anyone asks who it was that worked on their home. You can also use rating websites, where your customers can leave reviews based on their experience. A lot of people search these websites when choosing a carpenter, so it’s worth investing in.