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Woodhacker
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7 Posts
Discussion Starter #1
Hi there,

I have lurked a while on this forum, just joined today. I have been contemplating starting to build patio/backyard furniture for kids. I have seen lots of Adirondack style stuff for adults but I have a hard time to find anything for the kids (with any sort of quality workmanship). The pieces I do find for kids that are built with quality are usually fairly pricey.

Any of you think that there might be a market here? I know I can knock out Adirondack style furniture with quality lumber and work for less then the 120 to 150 a piece that I have seen in this area (Dallas Forth Worth).

What do you think....
 

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113 Posts
Honestly? I think you'd be working for free at $120.00. I have several friends who have made these things and picnic tables and other items in that bracket and just didn't make any money.

If you just like making this sort of thing, think about moving up a bit and use woods like teak, mahogany and ipe and make your designs more intricate and sell to a smaller market for ten times that amount.

Have you worked up your costs yet on your furniture? I think making outdoor furniture for kids is a great idea. But there's a reason why the quality pieces cost much more.
 

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Woodhacker
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7 Posts
Discussion Starter #4
Thanks for the feedback. I do like to idea of working with more upscale materials. I do believe there is a great market for this here in the Dallas area. Can't find much for the kids except for WalMart.

I do have a great day job that pays well so this would be more on the side, can't hurt to at least try it out.
 

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Give it a shot TxAggie. As long as your aren't trying to make a living at it you can have a lot of fun and enjoyment from building things.
Gerry
 

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Woodhacker
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Discussion Starter #7
Thanks a lot for all the great feedback. I'll give it a shot and keep you posted on the progress. Might be a slow beginning but like mentioned earlier, the idea is not to making a living out of it (at least not yet, lol)
 

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hey, I can tell ya from experience,be careful,when you get involved in anything involving kids, best have good product liability insurance, and I can assure you when you get the rate quote you will rethink,Is sad ,and i hate to be the party pooper, but having done this stuff for a living most of my life,its the sad reality, its not a question of ,doing it right or wrong, its just that if a kid gets hurt then they want to sue everybody in sight, and the simple cost of defending yourself in an injury suit can wipe most out,my insurance company wont let me go near anything for kids, your plan sounds great and i do wish you well, just be sure to cover your tail.
 

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135 Posts
You can make a few and take them to local garden centers and see if you can sell them thru there. I have sold winchimes in the past thru local centers and it worked out great. Currently I am unable with my shoulder and back to make enough to deal with them. Good luck with it.
 

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Forgotten but not gone
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5,677 Posts
I can vouch for the insurance rates. I don't have any for my woodworking business because it has been non-existant while I do other things, but I bought a company recently that consists of a woodworking jig and the insurance quotes I have been geting are outrageous. I am certainly going to have to form an LLC and sell it to a trust or something and then just pay me, an employee a salary or quartely payment. I don't know exactly yet I am having to work it all out and lookiing at many options.

I have even considered selling the comapny yet again to an OBE and just be the "order filler" over here in the states.

It's stacked against the little guy for sure. there are alot of cool products you'll never see because of all the associated CYA costs of hanging a shingle anymore.

Don't ya just love the Trial Lawyers Association.
 

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I am certainly going to have to form an LLC and sell it to a trust or something and then just pay me, an employee a salary or quartely payment. I don't know exactly yet I am having to work it all out and lookiing at many options.
Let your wife set up the LLC in her name, you are her employee. She can pay you what she feels you are worth (insert joke here). She writes off your salary and any expenses the corporation has (gas, cell phones, internet service, home office, new vehicle, long distance phone, garbage pick up...I could go on, most of which you are paying out of pocket right now anyway...might as well write them off)
She has a "real job" right now I know. If the business has a "loss" that is a direct pass through on her income taxes on her annual filing.
She could also get a low interest loan (1% above prime last I checked) as a minority business owner. Check with the Womans Small Business Association. Of course the loan payments are a direct write off.

Yes there will be quarterly filings and some paperwork. I have been an LLC for 7 years,piece of cake. My wife owns Nelson Company LLC. I am not going to spill my beans here for general consumption, but you are right the days of a little guy hanging a shingle out are over, unless he is working small and cash. Even then it is stupid...the tax codes can work for you, not just against you ;). But as an LLC anyone is a big guy, just like any major corporation, even one guy. They have the same tax advantages and liability protection.

Say you have an LLC, not only are the obvious and numerous tax advantages, but no personal liability. If "Daren's widgets LLC" gets sued...the companies liability insurance (which is written off) has a cap of $1,000,000. That's it, they can't sue me. The company is it's own entity, separate from my personal finances.
 
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