Thread: In need of Funding for Business Startup

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

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

I will second all of the above.

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

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

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...ad.php?t=10218

Hope this helps,

Qw

sbanks,

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

HH.

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.

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.

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!!

Originally Posted by sbanks

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.


Peter.

Originally Posted by

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

Ok Im interseted!!

How much for both??

Al

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


P

Originally Posted by bitingmidge

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


P

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

BTW, welcome back

Al