Is there money in woodworking?

[Patrick Kane]

Im surprised by the negativity. I know a few people locally that it is perfect for. They might not make more than $50-60k a year, but they are also doing highly specific historic restoration work and only working half the year. Not necessarily woodworking, but one guy makes signs for retail storefronts, works alone, and makes a top 10% level income. Finally, i cant speak loosely about a vendor i used to work with when i was at a large retail company. They made fixtures like tables, shelves, display stuff, and i know that company was not hurting for business. However, for every success story, there are 10 stories like the guys above that found themselves working to death for very little profit. Kitchen cabinets always looked like a warzone to me. I make some on the side, and used to make a lot more working a lot more. On a part time basis, it was really good for me. Paid for a lot of lovely international trips with my wife, and paid off my student loans in a few short years. All the while working from my home in odd evening and weekend hours. It's not that it necessarily paid a lot, but it was flexible and easily fit into my office job's schedule. I guess it would be similar to driving for Uber in the evening and weekends. Back then, i bet i was only netting like $30/hour, which isnt enough to equate to a good standard of living, in my opinion. Now, i take on only a dozen jobs a year and it pays for any tool splurge i want, a vacation or two, and some extra money towards retirement. Of those jobs, i turn down anything that doesnt pay the rate i want it to. I dont need the money, and I dont chase business. If it comes to me, and it is the price i demand, then i do it. If not, then we both go on our merry way. Woodworking income has always been a really nice side hustle for me, but i never had the impression i could or want to go at it full time. Professionally, it reminds me a lot of another hobby of mine, bonsai. The most talented bonsai professionals make their money teaching classes to hobbyists, and not by creating beautiful trees and selling them. Even then, there is a point of severe diminishing returns for both. I can think of two bonsai studios that dont chase business or do crazy circuits/tours of the country doing demonstrations and classes for a couple hundred bucks a pop. Instead they teach a handful of classes a year in their home nurseries and classes are so limited the students pay thousands to be there for a week. Im sure those guys arent taking home more than $75-100k each year, but they are doing what they adore, from their home, and once again, not working 80 hour weeks. Conversely, they could beat themselves to death and maybe make $150k a year.

[Richard Coers]

Im surprised by the negativity. I know a few people locally that it is perfect for. They might not make more than $50-60k a year,

These are people supporting a family? I'm curious how those craftsman intend to get by in their latter years? Those years when the arthritis make for sore hands or fingers that lock up, or those years when stooping over a bench can only last a half hour at a time because of back pain? I bet they don't have much of a 401k, and are likely part of the 25% of Americans with no retirement savings. How do they afford healthcare insurance? What happens if they cut off a finger and can't work for a month? They will find it extremely difficult to live on social security because of course that is calculated on income. I didn't worry so much about that when I owned my business, but my getting out of the business was quite fortuitous as I was able to retire at 62 from a corporate job and now live very comfortably on a pension and social security.

[Zachary Hoyt]

I have been selling things I made from wood since 2006, first it was twig furniture, and for the last 10-12 years my shop time has transitioned to musical instruments, which were always the goal. I have a 'day job' which provides room and board and limited use of a car, but other expenses are mine to cover. In the last couple of years I have made enough money to have lived on if I had been living on it, though not to have much margin. I have been saving that money and am planning to buy a house in the Adirondacks in the next year or two and move there to build instruments full time. I am not married and have no children, I don't drink, smoke, do drugs or travel and I am an inveterate cheapskate. I am not expecting to have a lifestyle that many Americans would think was comfortable or well-to-do, but I hope to keep building up my reputation and business over time, and putting more money into savings. Because 95% of my sales are by mail I can work anywhere that I have access to a post office, and can have a garage or similar sized space to work in. I have been bicycling up to the Adirondacks for a week each summer the last 10 years, and I am looking forward to living there and being able to spend more time in the woods.
Zach

[Jack Frederick]

Many have said, "Do something that you love and you will never work another day in your life." My experience with that is, "nothing can cure a love of something faster than having to make a living at it."

[Jim Becker]

While I certainly enjoy the "mad money" that my part time business produces (and the tax benefits), there is no way I could survive financially anywhere close to the way I'm accustomed to. I expect and make very healthy hourly rates for my work (different kinds of work have different rates) and will not take commissions from folks who are not willing to pay it. This is especially more difficult these days with the "Walmartization" of society combined with the complete lack of understanding from so many people about how much work goes into creating something since so many have never created anything.

Take commissions for your enjoyment and to make some money at the same time, but don't expect to get rich. Those that do make money find a niche that they can fill and fill well, but even for them, business can be cyclic.

[mike stenson]

This is especially more difficult these days with the "Walmartization" of society

When things are judged only by price, it's impossible to compete with something manufactured in volume. There's also those who are willing to undercut the market because they're willing to effectively work at a loss, both are problems in pretty much every field these days. There's money in woodworking, but mostly in the supply chain possibly in teaching, but that's going to take another skill set than just being able to do it (anyone else ever teach? It's not easy.). Otherwise, you're going to have to hustle more than you probably anticipate to make ends meet.

[Todd Trebuna]

Never have and never will make a dime making something for money. I have had several people want me to make them a kitchen, but no way. They probably think I could do it in a couple weeks cheaper than they can buy it, and I know it would take me months at my speed.

I can't even establish good hobbyist creds, since almost everything I make is designed by the wife or one of the kids. I can't remember the last time I built something because I wanted to.

Sure glad I had a different job that paid the bills for 34 years.

That's why I say I am just a DIY guy. With a good tool collection.

This.^^ I have worked for the Fed since 1987, so I have a great job that provides me the ability to buy middle of the road, prosumer tools and some good wood occasionally. I am just to the point, where I am actually doing some projects for myself. Up until now I've mostly made stuff for my family, with their individual needs in mind.

[Scott Buehler]

I owned my own cabinetry business for 19 years and many of those years made a ton of money, but also had some really bad years. Take advantage of the ups and prepare for the downs. Like many others have said, you will work 12+ hours a day 6 days a week and the stress can get to you at times. I never thought of making cabinets as woodwork though, it was a job that I found less than passionate about. About ten years ago when the economy went to crap, I decided to close the doors. I am now a firefighter and have since built my own 800 sq ft shop behind my house. I have slowly bought enough tools to begin making cabinets again for a few contractors I have stayed in touch with over the years. They only build a few houses a year, which is perfect. It allows me to pay for all the new tools! And now I can actually focus on my"woodworking" skills once again. It is much more pleasurable now that I don't "have" to pay the bills with this income. So the answer to your question is...Yes you can make money, good money. But it will take time, patience and probably take the"fun and hobby" part away from it. Good luck with whatever you do, try to keep it enjoyable

[Andrew More]

These are people supporting a family?

Not the OP, but I can tell you where I live, in the Midwest, 50-60K per year is a comfortable middle class lifestyle. Currently the average income for a household is $40K. So if the husband came home with 50-60K and the wife also worked, it's a very nice existence. When I was a grad student here I was able to live for about 10K per year, with no real impact on my quality of life.

If you're living in a high cost of living area, that might not be enough money to afford a shoe shine.

So I don't think comments about yearly income are useful without noting of cost of living.

[Jim Becker]

There's money in woodworking, but mostly in the supply chain

This is exactly why a large percentage of my work is sub-contract...

[Richard Coers]

Not the OP, but I can tell you where I live, in the Midwest, 50-60K per year is a comfortable middle class lifestyle. Currently the average income for a household is $40K. So if the husband came home with 50-60K and the wife also worked, it's a very nice existence. When I was a grad student here I was able to live for about 10K per year, with no real impact on my quality of life.

If you're living in a high cost of living area, that might not be enough money to afford a shoe shine.

So I don't think comments about yearly income are useful without noting of cost of living.

You're correct, but there are a lot of variables not mentioned. If my family lived on an Amish farm around Arcola, IL, I'm sure that would be a good salary. I didn't get several jobs when I had my business because of the prices they bid. But I chose not to live that lifestyle. For some reason our kids wanted electronic devices and my wife wanted to go on vacations and have some kind of vehicle that was not a cargo van.

[Timothy Thorpe Allen]

That 50 to 60 K range is almost exactly at the 50th percentile of household incomes, all ages, across the United States, in other words the very definition of "middle-class." (source: personalfinancedata.com)

[Jared Sankovich]

That 50 to 60 K range is almost exactly at the 50th percentile of household incomes, all ages, across the United States, in other words the very definition of "middle-class." (source: personalfinancedata.com)

And very subject to locality differences.

Median in the county I grew up 45k
Median in the previous county I lived 139k (42k was the poverty line for a single person, and qualified for housing assistance in 2009)
Median were I'm now 95k

[Adam Grund]

It sounds like woodworking is like many other trades- the equipment necessary to do the job on a professional level as a primary income- even on a small 1 man shop scale- can really set you back so far in the red it’s hard to generate a profit for years to come.
My trade is auto repair, and I work at a dealer. I stopped keeping track of money spent on tools probably 10 years ago, but my guess is I have at least 60k in tools- good quality tools. Not making a living off Pittsburgh and Kobalt stuff. 95% of my work is the brand our store sells, but we do work on all makes/ models.
If I tried to go out on my own, I bet there’d be at least another 60k in tools and equipment I’d need, and then add in building a shop or finding one to buy/rent- not working out of a 2 car garage, most don’t have enough height for a lift.
Factor all that in, and I’m in the red for an awful lot, for a long time. And that’s not even taking in to consideration any kind of retirement savings or self employment health insurance, which will eat you alive.
After all that, It sure doesn’t leave you with the feeling that America wants the small business to succeed.

[johnny means]

There's no money in woodworking. There's plenty of money in locating, marketing to, and designing for the type of buyer who wants and is willing to pay for bespoke woodworking. Guess which one is the hardest end of the business.