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New Business Venture

This is a discussion on New Business Venture within the Aqua Lounge forums, part of the Aqua Lounge category; Hi All, I have been batting around an idea for a business for a bit now and wanted to get ...

  1. #1
    Mr Know It all target's Avatar
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    DefaultNew Business Venture

    Hi All,

    I have been batting around an idea for a business for a bit now and wanted to get some opinions on what you all think about it. What I am thinking of is a custom furniture business.

    Basically, I could custom design and build anything someone wants for furniture ie: tables, beds, bedside tables, cabinets, fish tank stands & canopies, shelving, built-ins, entertainment units. That sort of thing.

    As most here will know, I have already build a few stands for other members, and was thinking of doing a business for just stands, but starting thinking that would limit my potential customers too much. This would open it up to many more people as not everyone is a fish-obsessed as we are.

    So what do you think? I know there is a market, but not how big of one. I also know that it will be a long while, if ever, that this would be a business that would fully support my family. But for the time being, having it as a side business for some extra money would be a good thing in my mind. Plus, I enjoy woodworking anyways so it lets me enjoy another hobby.

    Thoughts, comments, advice?

    Thanks
    Daniel

    My 90g reef

    Custom stands/canopies available on request

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  3. #2
    Forum Resident alym's Avatar
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    I think that the cost to you in time, plus high material costs may erode your profits. If you want, I'll sit down with you and help you run the numbers...

  4. #3
    Mr Know It all target's Avatar
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    That would be great. Thanks
    Daniel

    My 90g reef

    Custom stands/canopies available on request

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    Forum God Adz1's Avatar
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    you would just have to invoice according to material cost.
    and custom carpentry is not cheap...

  7. #5
    Mr Know It all target's Avatar
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    ^^ no it isn't. But it doesn't have to be crazy expensive either. Even if this only generated enough income to support my fish hobby, I would go for it.
    Daniel

    My 90g reef

    Custom stands/canopies available on request

  8. #6
    Forum Snooper
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    The thing I have found with my experience in the same trade is people don't want to pay the $$. A product from you or I is far superior in sturdyness and quality then what you can buy at the stores, but the $$ follows it and people don't pay it they would rather spend little and get something that "will do" so to speak. Unfortunately we now live in a throw away world of dollar stores and walmarts. people buy cheap to make due and chuck it in 5 years for a new one. instead of spending a bit more money on something that is solid and last for decades. Just my two cents, but i do wish you the best of luck in your venture. In the future if there is something i can not handle i will PM you for the job!

  9. #7
    Mr Know It all target's Avatar
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    Thanks t-bore. and I totally agree. For me, i'd much rather spend a little more upfront and get something really nice and not have to replace it. Not everyone thinks that way though.
    Daniel

    My 90g reef

    Custom stands/canopies available on request

  10. #8
    Forum Snooper Tracers's Avatar
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    Personally, i think making smaller "trinket" items would be big sellers. Things like baby rattles, xmas tree ornaments, kitchen clocks, etc would be great sellers at farmers/flea markets, craft fairs, etc. My girlfriend had this amazing notepad/pencil/box thingy that went on her door when she wasnt home. When it was closed, it looked like a half a branch cut lengthwise, and when you pulled the pencil out, a section folded down to reveal a notepad on a flat surface and a little slot to put the note in. Had a cute "drop me a note" poem on it. But I have never seen anything like it and I thought it was the greatest idea. these things you could make them on your own time instead of having deadlines. And if you have a website up and a "card" attached to everything you sell, you could always ship items out to repeat customers year round quickly and inexpensively. Anything that says "wedding gift" or "baby" on it can be doubled in price! lol Ask Alym...

    I saw a program where a guy made an amazing old fashioned baby rattle and said it would take less than an hour without varnish/paint. I wanted a woodshop ever since. lol

    Just my two cents

  11. #9
    Mr Know It all 2wheelsx2's Avatar
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    Daniel, I went this route when I first left mining. I had a car detailing business that I ran out of my garage. But you know what I found? Once my hobby became my job, I didn't like it as much, and missed what I was good at, and trained for (hence my return to the exploration business). The other thing I found as an engineer was that I had to deal with lousy customers. The nice ones were really nice, but to make a business work, you have to take the good with the bad, and I found that the bad customers soured the whole thing for me.

    It's certainly something to think about.

  12. #10
    Mr Know It all target's Avatar
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    Hey Tracers, those are so good ideas. smaller items are definitely easier to produce. And I know how to make those baby rattles already.

    Hey Gary, yeah a few people I have talked to have said the same thing about making a hobby your job. But I also know others who did it and loved it. Right now it is all ideas. I might just keep doing what I have been, providing a service where I can and not really chasing business too hard.
    Daniel

    My 90g reef

    Custom stands/canopies available on request

 

 
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