What are the next steps for TKD Woodworking?

As many of you are aware, I’ve been developing a “side hustle’ to sell my Woodworking items (see contents to right under “TKD Woodworking”). The idea was to sell both online and at craft shows, starting in the second half of 2020. While the Wuhan Corona Virus has placed some limitations on life in general, I’ve worked hard to keep the process moving forward

  1. Laid out my initial plan
  2. Worked out how to build and determine costs for the items I was going to build
  3. Identified how many to build
  4. Began working through my fixed costs (insurance, marketing, etc.) and product costs
  5. Starting tracking my numbers
  6. Created my website to help communicate & advertise my products

So where to next? What is my timetable?

As I see it, over the next two months (May & June) I need to accomplish the following:

  1. Build 2-3 more project prototypes (already identified), price them, and place them on the website
  2. Finalize shipping costs for the items, so I can price everything correctly
  3. Purchase any insurance necessary, prior to opening for business (costs already identified)
  4. Advertise product for sale online (Etsy, Craig’s List, etc.)
  5. Begin looking into potential craft shows, and how I’ll setup my stall

Again, the objective is to have everything ready to go-live July 1st, no matter what the status of the Wuhan Flu is. Plenty to do, and not a lot of time to do it in. Wish me luck!

Mr. 39 Months

4 thoughts on “What are the next steps for TKD Woodworking?”

  1. I’m so excited about this new business of yours. I think all the social distancing and virtual communication will make a physical product even more desirable. I can’t wait to go back to antiquing and flea markets and the in-person experience again. I’m sure other people will be as well, and there will be ready customers for TKD!

    1. I hope so. One of the issues with making furniture and woodworking is that the cost of actual wood is high vs. the cost of all the press-board/Ikea furniture out there. The display shelf I”m working on has over $300 in wood & materials alone vs. a $99 Ikea bookshelf.

      Of course the Ikea shelf won’t hold up, can’t be moved from home to home, etc. – but for some people that doesn’t matter. For others, it does. Those are the customers I’m going for.

      Thanks for checking in. You guys are looking good!

      1. I do think there is a consumer niche for your artisan-level work. With Pinterest, Instagram, etc there is more of a high design appreciation now (or maybe I just notice it more now). I think there are people for whom IKEA is insufficient and who want the real thing. The question is, how to find these people and attract them to your business — but they are definitely there. On the plus side, people who are willing and able to pay for quality will fare better in a downturn than the cost-conscious IKEA buyers.

        1. I agree. I don’t think its enough to “quit my dayjob” but it will bring in extra funds and provide me with something to do once we hit FI.

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