Professional Woodworkers Sharing Business Strategies

Income offsets vital to staying in business

Written by Mark E. Battersby Monday, 21 January 2013 00:00

13_mark_battersbyThanks to today’s tough economy, more and more shop owners are seeking additional sources of revenue. Often it’s from hobbies and secondary activities. Not only will our tax laws partially underwrite those activities, but the almost inevitable losses can be as beneficial as extra income.

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Have you thought about an exit strategy?

Written by Lloyd R. Manning Monday, 17 December 2012 00:00

lloyd_manningLet’s accept the fact that we are all getting older. And, for many, it could be time to start planning for retirement or, at least, winding down and phasing out. This brings up a host of challenges and it is never too soon to start the process.

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Go with the flow and organize your shop

Written by John English Monday, 19 November 2012 00:00

john_englishOne of the best things about woodshops is that no two are alike. And one of the worst things about woodshops is that no two are alike.

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The risky business of insurance coverage

Written by John English Monday, 15 October 2012 00:00

john_englishIn May 2009, Cleveland’s Plain Dealer reported the closure of a woodshop in the city of Bay Village, Ohio. Hobbyists and volunteers used the shop, which was actually owned by the city. They built projects for themselves and various charities, including the local historical society’s Osborn House. The closure came after a routine insurance inspection found a number of problems. According to the newspaper, “the shop’s home-designed exhaust system for sawdust is a fire hazard, along with the fumes from thinners, paints and glues as well as the open pilot furnace located within the shop space.”

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Forge into the future with cost analysis

Written by Lloyd R. Manning Monday, 17 September 2012 00:00

lloyd_manningAll economic signs point to a slow recovery from the recession. The overall economy looks a bit brighter than a couple of years ago — or at least this is what the politicians tell us. For this and other good reasons, many woodworkers are considering renovating or enlarging their shop or building a new one. This, plus the acquisition of more modern equipment will involve the investment of several thousands of dollars.

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