Business Overview

Wood, being both beautiful and practical, has always been a popular material to make products from. Today, many people continue to seek out -- and pay good amounts for -- wood products. A woodworking business specializes in producing such products, carving furniture or other items from wood.

According to IBISWorld, the wood product manufacturing industry is a $6 billion industry that continues to grow. The top 50 companies in the sector command only about 30 percent of the market, leaving plenty of opportunities for new and smaller wood shops.

Who is this business right for?

Anyone who is detail-oriented, decent at math and skilled with their hands may be well-suited for running a woodworking business. These skills are necessary when carving wood and building products.

What happens during a typical day at a woodworking business?

A woodworking business owner spends much of their time making wood products. This work may include designing products, cutting and sanding wood, assembling pieces together, and painting or staining finished pieces.

When not producing products, wood shop owners may spend time sourcing materials, interacting with customers and marketing their business.

What is the target market?

A woodworking business’ ideal customer is someone who appreciates wood products and has discretionary income. Such a person is likely to be interested in products and have the money to afford them.

How does a woodworking business make money?

A woodworking business makes money by producing and selling wood products. These products may be furniture (e.g. Adirondack chairs, cabinets or dressers), or smaller items, like jewelry boxes, smartphone holders, manual coffee grinders, cutting boards or wooden beer mugs.

What is the growth potential for a woodworking business?

A woodworking business may be a small home business that serves customers in the local area, or it can be a regional or national franchise. Stickley is an example of a woodworking business that started out locally in Central New York but has grown to become a nationally recognized furniture brand. Another example of a business that’s grown is National Woodwork, which is based in Pittsburgh but has clients in many states.