In need of Funding for Business Startup

[sbanks]

Hello,
I am looking for funding to get my business underway.
I turn small scale products such as candle holders, small bowls and plates, finials, knobs and buttons, and kaleidescopes.

The funding would be for a new shop building, marketing/advertising, shipping and any tool purchases that I might need along with working capital for 6 months to a year.

If anyone knows where I might locate this, I would appreciate the information.

SBanks

[gatiep]

Best place to start would be in your dreams!


I don't think woodturning has ever been such a money spinner that you would attract investors.

Good luck anyway

:)

[sailingamerican]

Just some thoughts
This is not the way to start a business.
One, are you selling every thing you make.
Two, do you have a demand for your product.
Three, I have owned an antiqure mall as a side business for years. There is no demand for what you want to make.
Four, to start a new business you must find a need and then fill it.

Get a job and make the items you want to sell as a side business. You do not say anything about investing in equipment. Duplicating machines crank out candlesticks very fast. They cost hundred of thousands. You can not compete. There is no money in wood items. People have tried for years and failed. Custom items in a gift shop on consignment might be a way to try to make money. I am not saying they will not sell but to sell to gift shop will never happen because they are such slow sellers. You have not done your home work. You need a market. IF you do top notch work you might trying selling in an art gallery. It takes years for custom wood workers to make a name forthemselves.

No one will invest without a marketing plan, or market. It will cost you a lot of money to set up a business just in legal fees. No one will pay your living expences. People invest in companies. It is posible to get people to invest in machinery etc. You have not given this enough thought. Richard

[RETIRED]

I will second all of the above.

[outback]

Geez, I wish you blokes had answered BEFORE I sent the cheque off to him.

[RETIRED]

Wanna buy a cheap Bridge and I will throw in a Rock as well. :rolleyes:

[QldWoodie]

Hi Sbanks,

I'm sure some of the replies have hurt a bit for you to read, but I endorse them too. Better to get honest feedback now than find out later at much higher cost. There have been some similar threads (on the business of making money from woodworking) in the last year. Here's one that I remember contributing to: http://www.woodworkforums.ubeaut.com.au/showthread.php?t=10218

Hope this helps,

Qw

[HappyHammer]

sbanks,

You've won the lottery in Africa if you send me $100 to cover costs you'll have your winnings shortly.

HH.

[sailingamerican]

Lets not pick on him to much. He is a Yank. Most of us don't get out much you know.

I love deadlines. I love the sound of them going by.

[Rusty]

Easy, gentlemen; we all have our dreams and ambitions...until LIFE CRUSHES THEM OUT OF US AND LEAVES US CRYING, DISCARDED ON THE whatever.

Seriously, SA is right IMHO, about starting small and supporting yourself with a regular job while your business grows. Don't let reality get in the way of what you want, though. Committing yourself will bring providence to your aid. Follow your bliss. Build it and they will come.

You get the idea. Best of luck, SBanks.

Rus.

[namtrak]

Do a little research. Eg, get yourself down to Australia, visit the Southbank markets in Melbourne and have a chat to the bloke there that is selling boxes etc that he has made himself.

Questions to ask, how does he make his boxes? Why does he not bother with jigs? How does he set his prices? How often does he have to sell his product?

Clue: He is overpricing his product outrageously because the market can bear it!!

:)

[Sturdee]

If anyone knows where I might locate this, I would appreciate the information.

SBanks


Try the National Bank of Nigeria, they can put you in touch with some of their clients. The ones that always need help in investing moneys outside Nigeria, your commission for helping them out should be enough for your needs.

Just make sure you don't give them your bank details. :D :D :D


Peter.

[ozwinner]

Wanna buy a cheap Bridge and I will throw in a Rock as well. :rolleyes:
Ok Im interseted!!

How much for both??

Al :)

[bitingmidge]

Careful Al, I don't think the price of the Rock includes delivery.....


P
:D

[ozwinner]

Careful Al, I don't think the price of the Rock includes delivery.....


P
:D
Of course it includes delivery, hes going to "throw" it in, silly.

BTW, welcome back

Al :D

[sailingamerican]

They will come but will they buy? My Aussie wife says if some one can build it some dumb Yank will buy it. I sell all the junk I buy and make. In my antique mall I have a cornor that I put the junk that most would put in the trash. I never price the items. It is always the first thing people ask about. I tell them to make me an offer. They give one and I always taket the offer; then they look at me like the just screwed themselves. They always buy it. Saves on the dump fees. Fair Dinkum



Easy, gentlemen; we all have our dreams and ambitions...until LIFE CRUSHES THEM OUT OF US AND LEAVES US CRYING, DISCARDED ON THE whatever.

Seriously, SA is right IMHO, about starting small and supporting yourself with a regular job while your business grows. Don't let reality get in the way of what you want, though. Committing yourself will bring providence to your aid. Follow your bliss. Build it and they will come.

You get the idea. Best of luck, SBanks.

Rus.

[echnidna]

Ok Im interseted!!

How much for both??

Al :)

Hey Al you gunna put the bridge across the Nullabor and charge yanks a toll ?
May as well charge the Queenslanders too!!!!
:cool: :cool: :cool: :cool: :cool: :cool: :cool: :cool:

[bitingmidge]

I sell all the junk I buy and make. In my antique mall I have a cornor that I put the junk that most would put in the trash. I never price the items. It is always the first thing people ask about. I tell them to make me an offer. They give one and I always taket the offer; then they look at me like the just screwed themselves. They always buy it. Saves on the dump fees. Fair Dinkum


Gotta love the logic...you and Al could spend hours talking nothing but Antique Mall stock methinks???

Al, what does it take to turn a craporium into an antique mall???

P :D :D :D

[ozwinner]

White out.....


Al :D

[rsser]

Sbanks, lotta swine among pearls in these posts.

The venerable Raffan had an article on making money out of turning in an issue of Australian Wood Review. Maybe last year, maybe the year before. Test your research skills.

Actually, to be more accurate, an article on selling your work, which is not at all the same as making money out of it.

[ozwinner]

They will come but will they buy? My Aussie wife says if some one can build it some dumb Yank will buy it. I sell all the junk I buy and make. In my antique mall I have a cornor that I put the junk that most would put in the trash. I never price the items. It is always the first thing people ask about. I tell them to make me an offer. They give one and I always taket the offer; then they look at me like the just screwed themselves. They always buy it. Saves on the dump fees. Fair DinkumI like the logic in this, I told the ball and chain, and we might just give it a go next time someone asks for a price.:D

And theres me thinking the yanks dont have a sense of homour, ahh well, not the first time Ive been wrong.:o

How big is your antique shop SA?

Here are some piccy of ours which we took over, 4 months ago, lots of things have been changes since the photos were taken.

Al :)

[fxst]

and as you can see SA he also sells body parts :D :D ....must be a market for fried ppl methinks and he also makes pancakes so its not all bad :D
Pete

[sbanks]

First off who says I dont have a job?

And Why would I post my marketing and business plan to a discussion board?

I was just checking to see if anyone out there has had much luck getting investors.




Easy, gentlemen; we all have our dreams and ambitions...until LIFE CRUSHES THEM OUT OF US AND LEAVES US CRYING, DISCARDED ON THE whatever.

Seriously, SA is right IMHO, about starting small and supporting yourself with a regular job while your business grows. Don't let reality get in the way of what you want, though. Committing yourself will bring providence to your aid. Follow your bliss. Build it and they will come.

You get the idea. Best of luck, SBanks.

Rus.

[outback]

First off who says I dont have a job?

And Why would I post my marketing and business plan to a discussion board?

I was just checking to see if anyone out there has had much luck getting investors.
1. The inference in your post led certain members to believe you had no job. An honest mistake.

2. If you have such a shiiit hot marketing and business plan, why the hell are you asking for advice from a discussion board.

3. If ya don't give a few details why the hell will anyone worry about giving the details of "investors"

4. You make out you have all the details, required to start your business, and yet show your complete amateur status by asking for financial advice.

5.Lead with ya chin here and it will get clobbered.

[Sturdee]

5.Lead with ya chin here and it will get clobbered................

.....................and again and again and again.

6. If so knowledgeable with such hot business plan ( which in my book would show details of proposed financing , interest rates and repayment details ) why ask for details of investors from an Australian board, you being a yank.

7. You fail to disclose your relevant pancake making knowledge, if any. :p


Peter.

[echnidna]

And , unbeknown to most of those in the good ol' US of A, pancakes are very relevant to success! If you wish to find out why this is so - you must ask politely!!

[Rowan]

and where is the foil hat.......................he cant be serious if he hasnt mentioned that!!!!!!!!!!!!!!

[Rusty]

Settle down, Banksy, I was trying to be encouraging. I don't give a rat's **** if you've got a job or not. I don't know why you singled out my post as an example of nastiness but it think it gives me right of reply, which is as follows:

This is a woodworking forum, and a fine one at that. You don't appear to need woodworking advice, or even a pancake batter recipe, so perhaps you should get yourself to a venture capitalists forum where the the money questions are bandied around. Gluten free self-raising flour makes for a very light and fluffy pancake, if you feel like something a bit less stodgy.

And that will be my final word on the subject.

Unless I think of something else.

Good day to you.
Rus.

[sailingamerican]

Good custom work always sells. Most of the time not for what it is realy worth. Boxes etc. are not candle sticks. You Aussies do some beautiful work. I have seen it and own some pieces. For some things there just is no market. As and architect and contractor I have Sam Maloof do work for some of my clients. If you do not know about him look him up on the web. He has made furnitue for our Prisidents. He is world renound. He lives about 35 miles form me. His old home and work shop are on our national historical list. Read his struggle and how he become known. He just did what he loved. He developed his own style which speeks for itself. I have one of his rockers. They sell for well over $10,000. I still stand by what I said in my first statement about there not being a market. I make custom furniture for some of my clients as well. I do know what is involved. I got my first lathe at age 14.

Produce a good product and the world will come.

[gatiep]

Good custom work always sells. Most of the time not for what it is realy worth.

I still stand by what I said in my first statement about there not being a market.

Produce a good product and the world will come.
Sailing Yankee


Do I notice some contradictions in your post. Suppose you would make a good politician! Have fun mate.

:)

[bitingmidge]

If there were a contradiction, shouldn't there be an apostrophe?


P
:D :D :D

[gatiep]

Nope because there are two


:)

[MathewA]

I started turning in about 1978. I started making money around 1982, not much but still it was money. Seen a lot of people walk the same path... The best and most successful way to get a woodturning business up and running is... Have a wife or husband with a very good paying job and alot of understanding. And for those who think I'm joking - I'm not. This is, especially in North America, a very hard business to make any sort of living off of. I, in my travels to the South Pacific, found that it seemed possible in both New Zealand and Australia to have and maintain a woodturning business. I worked in both countries for woodturning shops and they did keep reasonably busy. Even the Skills in Demand list put out by The Dept. of Immigration and Indiginous Affairs in Australia lists Woodturner as a trade in demand. Whereas in NA it's not even considered a trade.

You need to have an income first and start building up a business doing woodturning. Maybe one day you'll find you can quit your day job and go full time as a woodturner, probably not though. There's not a venture capatalist in the world, unless you count your mom and pop, who will give you 2 cents to start up a woodturning business.

Sorry if this p!sses on your fire works... Don't get me wrong thou of all the woodworking I've done woodturning has been over all the most satisfying. It's allowed me a lot of freedom with respect to my wood working career. I've never been out of work. If I'm up against another person for a job in a wood shop, I'll get it because I can bring a new dimension to a shop that few can.

What part of the US are you in.


Hello,
I am looking for funding to get my business underway.
I turn small scale products such as candle holders, small bowls and plates, finials, knobs and buttons, and kaleidescopes.

The funding would be for a new shop building, marketing/advertising, shipping and any tool purchases that I might need along with working capital for 6 months to a year.

If anyone knows where I might locate this, I would appreciate the information.

SBanks