Who wants to be a millionaire? - Woodworking Talk - Woodworkers Forum
 
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post #1 of 17 Old 08-13-2015, 08:21 PM Thread Starter
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Who wants to be a millionaire?

Chainsaw - check
Log - check
Sandpaper - check
Multi-million dollar business plan - check

Selling for $25 a pop
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post #2 of 17 Old 08-13-2015, 09:19 PM
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Priced at $25.00 or selling for $25.00?

Oh, it would be nice----
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post #3 of 17 Old 08-13-2015, 10:33 PM
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The whole part of that that twists my bits is that people will pay that, but will think nothing of trying to get something like my Adirondack bench for "maybe like, $10...". Honest offer here folks. Come late this fall, I'll salvage my $12 in screws, and burn the d$&m thing....

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post #4 of 17 Old 08-13-2015, 10:35 PM Thread Starter
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Label it as a reclaimed wood bench and sell it to city folk for $500
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post #5 of 17 Old 08-14-2015, 04:17 AM
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The whole part of that that twists my bits is that people will pay that, but will think nothing of trying to get something like my Adirondack bench for "maybe like, $10...". Honest offer here folks. Come late this fall, I'll salvage my $12 in screws, and burn the d$&m thing....
Way, way too true. People will pay through the nose for some tiny and pointless little tchotchke, buy faced with a piece of genuinely masterful furniture they'll take one look at it, check the price and say " why would I buy your table for $500 when I could go to Ikea and get a table for $50?"

I need cheaper hobby
etsy.com/shop/projectepicfail
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post #6 of 17 Old 08-14-2015, 07:03 AM
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Way, way too true. People will pay through the nose for some tiny and pointless little tchotchke, buy faced with a piece of genuinely masterful furniture they'll take one look at it, check the price and say " why would I buy your table for $500 when I could go to Ikea and get a table for $50?"

I live in an area with ~40,000 people who are of that mindset. Until that one weekend per year that the Wausau area hosts "Art in the Park". It's the one time per year that people lose their minds and will buy a crate full of cut offs for $300. I flat gave up on finding people in my area that are appreciative of the work & time invested in quality a long time ago

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post #7 of 17 Old 08-14-2015, 07:57 AM
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When you are in business you have to determine what it is that people want to buy. That then is what you sell.

If you try the reverse then you will generally find you have few customers.

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post #8 of 17 Old 08-14-2015, 10:10 AM Thread Starter
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So we should all start building pieces made of pressed board or MDF. I love woodworking, and I would love to be able to build stuff all day every day. But I am thankful I don't have to do it for a living. I see what a lot of you guys doing it have to deal with.
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post #9 of 17 Old 08-14-2015, 10:24 AM
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Most people outside the woodworking arena have no knowledge of what it takes to design and build custom made wood items, but they will pay out many $ for an item that will put them on the "cutting edge" of the latest trend, whether they have a need for it or not! IMO it is all about the art of sales and advertising, which translated is supply & demand. Be safe.
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post #10 of 17 Old 08-14-2015, 06:41 PM
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Trends today seem to be more simple and stupid than ever before.

In downtown Richmond people will pay 3/4 of a million dollars for a house that's literally falling apart, because it's in the trendy "historic" district.
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post #11 of 17 Old 08-14-2015, 08:09 PM
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Trends today seem to be more simple and stupid than ever before.

In downtown Richmond people will pay 3/4 of a million dollars for a house that's literally falling apart, because it's in the trendy "historic" district.
Same thing for downtown Toronto. I've done kitchens in some of these, and I can't believe these places sell for that much. Some of them go for a million plus!
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post #12 of 17 Old 08-14-2015, 09:16 PM
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Chainsaw - check
Log - check
Sandpaper - check
Multi-million dollar business plan - check

Selling for $25 a pop
Let's say you can sell all you want at $25. Uncle Sam and your Governor are going to want their share. Let's just ball park that and all other taxes at 30%. Not much operating costs other than chain saw chains, gas, oil and the wood. Guess that at 10%. To make $1,000,000 after these costs you need to gross $1,400,000. At $25 each, you need to make, market, deliver and cash the checks on about 56,000 pieces. Can you do that in 10 minutes per piece? If so, it would only take 560,000 minutes to make your million. Or roughly 388 days working 24 hrs/day. Is that the business plan? I figure 3 of us could work 3 shifts, split the money evenly and we would all be millionaires in about 3 years. Where do we sign up?
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post #13 of 17 Old 08-14-2015, 09:30 PM
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Originally Posted by Hammer1
Let's say you can sell all you want at $25. Uncle Sam and your Governor are going to want their share. Let's just ball park that and all other taxes at 30%. Not much operating costs other than chain saw chains, gas, oil and the wood. Guess that at 10%. To make $1,000,000 after these costs you need to gross $1,400,000. At $25 each, you need to make, market, deliver and cash the checks on about 56,000 pieces. Can you do that in 10 minutes per piece? If so, it would only take 560,000 minutes to make your million. Or roughly 388 days working 24 hrs/day. Is that the business plan? I figure 3 of us could work 3 shifts, split the money evenly and we would all be millionaires in about 3 years. Where do we sign up?
I'm not sure where to sign up, but I think you'll be the finance guy! Lol!

Turning good wood into designer firewood on a daily basis.....

I never plan my days. "Premeditated" is a word Lawyers love to toss around in courtrooms.
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post #14 of 17 Old 08-14-2015, 10:25 PM
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Same thing for downtown Toronto. I've done kitchens in some of these, and I can't believe these places sell for that much. Some of them go for a million plus!
Well, that's Canadian dollars, so about $37.50?


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post #15 of 17 Old 08-15-2015, 06:55 PM
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Well, that's Canadian dollars, so about $37.50?

Geez..the way it's heading it might only be 10 bucks!
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post #16 of 17 Old 08-16-2015, 12:15 AM
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You just have to work at getting people to see you as an "artist" .....
You wouldn't believe what my "artist" wife gets for the clothes she makes...
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post #17 of 17 Old 08-16-2015, 11:14 AM Thread Starter
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There always is a market for design. If you spend time on the design part, making it unique but still pleasing you can command a good price. Although not my style I find around here contemporary/modern pieces grab attention. Construction is not necessarily harder and it uses the same amount of materials so costs can be kept down. The only added cost is the time to design.
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