Get your LLC with Tailor Brands: tailorbrands.go2cloud.org/SH8w For a limited time, you can also get 20% off Tailor Brands plans using the code upflip20 tailorbrands.go2cloud.org/SH96 *Discount not valid on LLC
Interesting and in-depth, thank you. I do want to point out one thing though. Paul said he is happy with 15% to 20% profít BUT when you asked him the price of the one piece he said $3,000 ($1,200 in profit). That’s a lot higher than 20% in profit, so if that is a typical markup, he definitely wants more than 20%.
As a woodworker with a full shop and profitable business, I would add a couple things. (1) know your numbers! Just like Shark Tank, you have to know your numbers. Time yourself and how long it truly takes to make product A, product B, etc. Time the whole process from selecting/receiving the wood or materials, to the time it takes to package and ship. (2) I like what he says about only making purchases that you need...I would fine tune that to say go cheap at first on things to MAKE the product, go big on advertising/marketing, that will actually get you the sales. There is nothing worse than having $220k of machines and tools and materials, and not enough steady orders to actually pay yourself or the rent.
Retired cabinetmaker here: My shop fed and housed my family and put my kids through school. I spent less than 1% of gross revenue on marketing, in fact for several years before I retired, my advertising costs were zero. Word of mouth, coupled with high quality and good service, is all I ever needed. My advice to someone starting up? Stay small. When hiring, attitude is 90% and experience is 10%, only one can be taught. Always deliver just a little bit more than the customer is expecting. Remember to take time to enjoy the benefits of owning your own business, you'll earn them.
Thank you both for this. I'm a woodworker that's been thinking of making a business out of it. The advice in this video is so much more practical and honest than I've found elsewhere.
Go for it! Chances are you already have a decent amount of contacts who could potentially be your customer. Take a look into building custom kitchens from start to finish including install if you want. A friend of mine is doing it with tremendous success locally. Kind of a different gig than spectacular custom pieces here but far more profitable, especially if you do the full install
Paul, thank you for the opportunity to meet with you and get to know you and your business. You did so well and I trust our viewers will be greatly blessed by what you had to share.
Pursuing your dreams is admirable, but it's crucial to understand what you're getting into. As someone involved in the operations of a small woodworking shop in NYC, I'm amazed at the number of people who start woodworking businesses without considering the profitability challenges. Moreover, since many owners transition from being hobbyists, there is a shortage of skilled workers and workers in general in the industry. For the past three years our business has struggled to find employees who support our growth despite offering in-house training. It seems like we're all competing for a limited talent pool within the area. With intense local competition and imported products, starting a business in this industry can be challenging. Everyone in the custom sector is vying for the same 20% of customers. Additionally, through networking, I've observed that many business owners paint a rosy picture of their business without disclosing the actual financials. So, when people share numbers, I take them with a grain of salt. It would be helpful to know the actual number of woodworking businesses that close each year.
What a great interview. You asked all the right questions and Paul seems like a wonderful person who has worked hard to build his business. Thanks to him for his candor and openness.
I am happy to have stumbled across this video. I’m working a woodworking job as a finisher and am slowly working my way up the artisan carpentry process to handling raw lumber. The skills I am learning are beyond valuable to me, even as a finisher. I started out as a carpenter’s apprentice and went on to sales after college, but that didn’t pay the bills and it was limiting. Thankfully I am back in my passion and making things. Your story is inspiring, and I hope to one day have my own shop! The economy and my limited experience make things difficult at the moment, but I am happy where I’m at and have realistic goals set up for moving forward. Wish me luck in this on going endeavor!
Paul is very correct, being a people pleaser has tremendous negative affects on your mental health. Always feeling like you are being taken advantage of leads to feeling resentful. Clearly Paul was able to overcome this limitation by being good at what he does and by working hard at it. Never forget that people like this have invested a tremendous amount of their time, the single most valuable thing that we have in life. Thank you Paul for your honest evaluation.
This guy is the best interviewer I have seen online. Mostly, I think that's just because of his demeanor and personality. He really makes the person he's interviewing comfortable which allows them to answer questions well.
Entrepreneurs--love what you do, be the best at what you do, work your ass off, buy the basics, rent the rest, and don't let a client screw you, do high-end. And remember the market is a roller coaster ride. Just remember, the competition is always on your heels. (Have a faithful wife to keep your books--IMHO, FME.) Love this video.
Cool interview. I run a part-time wood working business building work benches during the spring summer season here in Canada. Not anywhere close to where this guy is, just a couple clients month making an extra 200-500$. But one day I'll get to where this guy is. One day 😊
His advice on when and how to scale up is invaluable. There's always another tool I want, and I have good credit, so it's tempting to just go buy it. His advice on when to buy, when to rent, and when to outsource is fantastic. Worth watching the whole video just for that.
That's so relatable. Easy to be attracted to certain types of tools that allow you to do very "specific" things. Thank you for taking the time to watch it! ☺️
New sub from Nova Scotia. What can I say...IMPRESSIVE! Extremely informative, nicely structured flow, great quality video, etc. However, what struck me most was the forthright honesty in both the questions, and the answers. All the success in the world to both of you.
I just joined a community woodshop.they provide absolutely every tool nail screw glue cnc I joined for a yr. Iam definitely a newbie. But having fun for sure
Just curious as to the name of the location as I'm looking for a similar location in my area ... So checking out what other places offer so I can compare...
If I would need any in the future, this guy will be the guy. As a business owner, I love those who put their passion and love into their work, its' like you put your soul into the piece of wood that turns to the piece of art.
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
Thank you for your kind words! Starting small is definitely a great way to pursue your dreams in custom woodworking. Keep honing your skills and following your passion!
I’m a lead carpenter at an established company, and I have my Own woodshop and do woodworking and wood turning in my spare time and sell and give gifts away. I am currently trying to make the transition to full time and my Own business. It’s scary. This video reaffirmed a lot of what I already knew, and I did learn some new things too.
Paul's story and advice were very helpful, but I have to stay that the interviewing skills really stood out. I think I last saw when you interviewed Blacktail Studios and this was even better. I especially like the questions surrounding why businesses fail and how to hire and delegate.
The problem with skilled trade work, is that people wont buy the things we make for the price we value them, they rather buy a cheap alternative that is ready now. I was a leatherworker and woodworker for 15 yrs as side hobby money. The amount of time and money it takes to make a custom work of art is not worth the low amount you earn by doing so. Low volume market can not pay the bills. Increase production, you lose quality. Ect..ect..
For me the hardest was physically, it's a really hard job, especially when you begin and need to push 10-12hrs per day. Also, finding your first employee is another big step !
Incredible interview! Also, as a woodworker, this information is so valuable.Thanks for doing this interview and for sharing! Paul sounds like an awesome guy who has certainly put the work in!
I am sure you are a very talented woodworker but being in downtown LA is a huge huge huge help. Just Hollywood customers will bring you a ton of money and as we all know, LA is packed with new money who wants to show off their houses and their furniture. Looking at some of your work, that is exactly what movie stars want :)
All anyone needs to get started is a table saw, small air compressor with 1 1/2” nail gun, Brad nailer, 7/8-1 1/8” stapler and a cup spray gun, small 13” planer, 3x12 belt sander, 5” orbital sander. Under $3k for everything if you get the Porter-Cable pancake compressor with finish nailer set and a descent cabinet saw.
When a client cannot pay and their budget is less than what you can offer, you adjust what comes with the package. That way you can feel good about what you are offering and you are not walking away feeling like they took advantage of you. If they can only afford so much, which results in paying less, then the client receives less. They can always come back when their budget can meet the requirements of the product.
This is the cold hard fact be willing to lose money and don’t get into it if your not passionate …facts are there is no way around it get ready to lose money; that’s why you must love what you’re getting into !!!
Great interview… many good points about growth and job pricing. It’s a wonderfully fulfilling business to be in and can really serve you well creatively and financially… but it can suck the life and joy out of you if done wrong. This interview is a keeper for those considering transitioning from a hobbyist woodworker to doing it as a business. Thanks Paul Best Greg
Hi Greg. Paul here. Thanks for the comment. You're absolutely right. I have definitely had some dark, brutal and painful seasons since I started the business. It's definitely a battle to retain the reason of why and how you started. I think that's why so many experts in the field "warn" others to proceed with caution! If you make great money doing something else and love woodworking, maybe just keep it as your hobby. But, if you really know it's what you want to do... go for it. You just have to know it will sometimes be boring, it will be hard, and you have to find your own way of continuing to feel the joy and fulfillment of the craft itself.
The following comment is about the embedded advertisement for Tailor Brands: A single member Limited Liability Company (LLC) is considered to be a disregarded entity by the IRS. Also, if you fail to maintain strict corporate formalities (and most small business owners do fail at this), then the corporate veil can be pierced and your personal assets can still be attached.
Piękny film, piękna historia. Na polskim YT obejrzałem chyba już wszystko o drewnie i nic mnie nie zaskakuje. Czas odkrywać Amerykę ponownie :) jesteście na wysokim poziomie. Pozdrawiam
maybe its just me but I know many woodworkers and the best advice about being a woodworker comes from the wood whisperer who I highly respect. I find people like blacksail and angel city to be outliers in the biasness. wrymwood is a company that I would say is far more accurate to the average woodworker that doesn't want to make epoxy tables and sell them overpriced. I agree start small and build from them and find what you love to do and do it. I know I don't want to make ton's of river tables even though they make a bunch of money.
I love woodworking! This is one of the most informative videos of the realities and mechanics of woodworking as an income, thanks for putting this together! An often unspoken element of the craft and tradition is the integrity within it and how it permeates into the craftsperson over time and experience. This guy is super organized too. legends..!
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
Great video, per usual on this channel. You ask the pertinent questions. As someone who started a woodworking business 3 years ago, I can't stress enough, DONT GROW TOO FAST. Keep your overhead low and buy tools as you go.
I'm a Woodworker as well and like others in this post, I am gradually moving towards this being my full-time job. This is one of the few great videos of its kind. Would have liked to hear more about his pricing but still a great vid. Thanks!
I like the interview and you did seem to ask all the right questions but when I'm left with is the question I got from looking at the thumbnail and title: what do I have to do to earn $2k a day? I was expecting to see a specific woodworking product/service he sells a lot but what I guess what you meant was that you have to be passionate about woodworking, put in the hours and get the right clients (I know I'm leaving out more stuff then the above)
@@UpFlip I've been getting an education in woodworking for about 3 years now. I've definitely made a lot of progress there, but the business side is often overlooked. Which is why your videos are so informative. Getting some inside knowledge on the know how, in the financial aspects is invaluable, so thank you!!
That's awesome to hear, Earl Jeremy! It's never to late to start your own. If you want to learn the nitty gritty of starting any business, please head on over to our blog and listen to our podcast for more detailed information. Best of luck! 👊
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
Beautiful shop, love the white walls, ceiling and floor. Great lighting, so important, used to work for industrial LED lighting company. Great tools, love the helical cutter jointer and planer. Nice looking cnc too. Gotta love Fusion360 for the win, my favorite tool. Shop almost looks too big, hard to imagine i'm writing that. Would like to see some of the finishing aspects of the process. Thanks for the video, very cool.
Welcome to the UpFlip family! Here you can find a ton of business ideas, and hopefully, we can motivate you to start your own soon. You can also read more on our blog or listen to our podcast. No doubt you'll be writing your own success story soon. Best of luck! 👊
That was a fantastic video on starting a business and developing it to a larger sustainable business. Commonsense advice. I liked the equipment review about what you need to cover most projects. I would like hear a review on his vacuum and his CNC. Make model, pros and cons. Thanks, John
@@gae384 The 15-20 % margin is after the expenses. (So given a revenue of 60k and 20% margin, the business will have a profit of 12k and expenses of 48k, including salary, rent, machine related costs, costs for material etc.)
Really nicely run business. Enjoyable and informative video ... and great looking (HUGE !! ) shop floor space. As someone who has already paid the price, can I please implore you and your staff to always always always wear safety glasses?
30K on electrical for a building you don't own? 115K on a 20k machine you can import from China. I don't understand the logic. 60K in revenue or profit? big difference. Just buy land with a big shop or barn, import the tools you need, and bootstrap it. Like most people, this guy didn't start a business, he created his own job that requires 80-hour work weeks not seeing his family.
Get your LLC with Tailor Brands: tailorbrands.go2cloud.org/SH8w
For a limited time, you can also get 20% off Tailor Brands plans using the code upflip20 tailorbrands.go2cloud.org/SH96
*Discount not valid on LLC
Interesting and in-depth, thank you. I do want to point out one thing though. Paul said he is happy with 15% to 20% profít BUT when you asked him the price of the one piece he said $3,000 ($1,200 in profit). That’s a lot higher than 20% in profit, so if that is a typical markup, he definitely wants more than 20%.
Forgot to get to how he actually prices his jobs. He was going to say, but then you guys said later, but later never came... Lol!
As a woodworker with a full shop and profitable business, I would add a couple things. (1) know your numbers! Just like Shark Tank, you have to know your numbers. Time yourself and how long it truly takes to make product A, product B, etc. Time the whole process from selecting/receiving the wood or materials, to the time it takes to package and ship. (2) I like what he says about only making purchases that you need...I would fine tune that to say go cheap at first on things to MAKE the product, go big on advertising/marketing, that will actually get you the sales. There is nothing worse than having $220k of machines and tools and materials, and not enough steady orders to actually pay yourself or the rent.
Thanks for adding more insight, SImon! I'm sure others will find this helpful. How long have have you had your shop?
What kind of wood working do you do and how to do you attract customers?
Retired cabinetmaker here: My shop fed and housed my family and put my kids through school. I spent less than 1% of gross revenue on marketing, in fact for several years before I retired, my advertising costs were zero. Word of mouth, coupled with high quality and good service, is all I ever needed. My advice to someone starting up? Stay small. When hiring, attitude is 90% and experience is 10%, only one can be taught. Always deliver just a little bit more than the customer is expecting. Remember to take time to enjoy the benefits of owning your own business, you'll earn them.
Time is important but not this important
Where do you get good wood in a reasonable price? You know, not that I’m dreaming or anything.
Thank you both for this. I'm a woodworker that's been thinking of making a business out of it. The advice in this video is so much more practical and honest than I've found elsewhere.
Go for it! Chances are you already have a decent amount of contacts who could potentially be your customer. Take a look into building custom kitchens from start to finish including install if you want. A friend of mine is doing it with tremendous success locally. Kind of a different gig than spectacular custom pieces here but far more profitable, especially if you do the full install
Paul, thank you for the opportunity to meet with you and get to know you and your business. You did so well and I trust our viewers will be greatly blessed by what you had to share.
Right back at ya! It was a fun experience. Thanks again for the opportunity.
Pursuing your dreams is admirable, but it's crucial to understand what you're getting into. As someone involved in the operations of a small woodworking shop in NYC, I'm amazed at the number of people who start woodworking businesses without considering the profitability challenges. Moreover, since many owners transition from being hobbyists, there is a shortage of skilled workers and workers in general in the industry. For the past three years our business has struggled to find employees who support our growth despite offering in-house training. It seems like we're all competing for a limited talent pool within the area. With intense local competition and imported products, starting a business in this industry can be challenging. Everyone in the custom sector is vying for the same 20% of customers. Additionally, through networking, I've observed that many business owners paint a rosy picture of their business without disclosing the actual financials. So, when people share numbers, I take them with a grain of salt. It would be helpful to know the actual number of woodworking businesses that close each year.
As a woodworker myself I appreciate these interviews
why sir?
Same
Glad to hear!
Same!
Indeed! It’s invaluable info
What a great interview. You asked all the right questions and Paul seems like a wonderful person who has worked hard to build his business. Thanks to him for his candor and openness.
Glad you enjoyed the interview John! Paul is great. Are you new to our channel?
I am happy to have stumbled across this video. I’m working a woodworking job as a finisher and am slowly working my way up the artisan carpentry process to handling raw lumber. The skills I am learning are beyond valuable to me, even as a finisher. I started out as a carpenter’s apprentice and went on to sales after college, but that didn’t pay the bills and it was limiting. Thankfully I am back in my passion and making things. Your story is inspiring, and I hope to one day have my own shop! The economy and my limited experience make things difficult at the moment, but I am happy where I’m at and have realistic goals set up for moving forward. Wish me luck in this on going endeavor!
Paul is very correct, being a people pleaser has tremendous negative affects on your mental health. Always feeling like you are being taken advantage of leads to feeling resentful. Clearly Paul was able to overcome this limitation by being good at what he does and by working hard at it. Never forget that people like this have invested a tremendous amount of their time, the single most valuable thing that we have in life. Thank you Paul for your honest evaluation.
Hello Bruce how are you doing, nice to meet you here.
@@helenarusso Hey there, nice to meet you Helena.
@@brucewilliamsstudio4932 Hello Bruce. I hope you don't mind me writing you? I'm from Minnesota.
@@brucewilliamsstudio4932 Hey
Paul is very humble, thanks for interviewing such an incredible person and creator! I'm hoping I can take steps like him in what I'm passionate at.
Thanks for watching, Springfield! We are wishing you success and know you take those steps.
Wow. So much transparency in this video. Well done.
This guy is the best interviewer I have seen online. Mostly, I think that's just because of his demeanor and personality. He really makes the person he's interviewing comfortable which allows them to answer questions well.
Appreciate the kind words! ☺️
Entrepreneurs--love what you do, be the best at what you do, work your ass off, buy the basics, rent the rest, and don't let a client screw you, do high-end. And remember the market is a roller coaster ride. Just remember, the competition is always on your heels. (Have a faithful wife to keep your books--IMHO, FME.) Love this video.
Glad you loved our video, Kurt! You're very lucky to have a wife to help with that! Are you in the woodwork industry?
This is one of the best business-model videos I've seen.
This guy is awesome. I was looking at his Instagram and wow. Some of his work I can’t even figure out how he built it. He is extremely talented.
Thanks for the support, Shayne! Paul's work is beautiful!
Just Paul worked for culinary in France. Go for it!
Hello Brad how are you doing, nice to meet you here.
Cool interview. I run a part-time wood working business building work benches during the spring summer season here in Canada. Not anywhere close to where this guy is, just a couple clients month making an extra 200-500$. But one day I'll get to where this guy is. One day 😊
Good advice at 2:48 calculate your cost and tirple that, even for small "garage" woodworkers.
His advice on when and how to scale up is invaluable. There's always another tool I want, and I have good credit, so it's tempting to just go buy it. His advice on when to buy, when to rent, and when to outsource is fantastic. Worth watching the whole video just for that.
That's so relatable. Easy to be attracted to certain types of tools that allow you to do very "specific" things. Thank you for taking the time to watch it! ☺️
All of these interviews are great but I think this gentleman's responses are spot on. Very direct, honest, conscice responses. 👏 thank you both.
Glad you enjoyed it!
New sub from Nova Scotia. What can I say...IMPRESSIVE! Extremely informative, nicely structured flow, great quality video, etc. However, what struck me most was the forthright honesty in both the questions, and the answers. All the success in the world to both of you.
Welcome aboard, Clayton! Really glad to hear your feedback. What would you like to see next on our channel?
I just joined a community woodshop.they provide absolutely every tool nail screw glue cnc I joined for a yr. Iam definitely a newbie. But having fun for sure
Just curious as to the name of the location as I'm looking for a similar location in my area ... So checking out what other places offer so I can compare...
@@Now_Roger_ThatLondon Ontario canada
So good, what a mix of craftsman and businessman combined.
Such a cool guy
If I would need any in the future, this guy will be the guy. As a business owner, I love those who put their passion and love into their work, its' like you put your soul into the piece of wood that turns to the piece of art.
thank you so much for this ❤ As a man who loves woodworking, I've have learn a lot from you guys. God bless you. Loves from Nagaland
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
Will sure update if I need anything🙂
Im a custom wood maker from philippines, I can relate start small. Your shop It's my dream shop for me. Keep up the good work. God bless!
Thank you for your kind words! Starting small is definitely a great way to pursue your dreams in custom woodworking. Keep honing your skills and following your passion!
I’m a lead carpenter at an established company, and I have my
Own woodshop and do woodworking and wood turning in my spare time and sell and give gifts away. I am currently trying to make the transition to full time and my
Own business. It’s scary. This video reaffirmed a lot of what I already knew, and I did learn some new things too.
Golden info, much appreciation
Thanks for the support!
Paul's story and advice were very helpful, but I have to stay that the interviewing skills really stood out. I think I last saw when you interviewed Blacktail Studios and this was even better. I especially like the questions surrounding why businesses fail and how to hire and delegate.
The problem with skilled trade work, is that people wont buy the things we make for the price we value them, they rather buy a cheap alternative that is ready now. I was a leatherworker and woodworker for 15 yrs as side hobby money. The amount of time and money it takes to make a custom work of art is not worth the low amount you earn by doing so. Low volume market can not pay the bills. Increase production, you lose quality. Ect..ect..
Great awesome perfect necessary excellent exceptional advice . Got it
Hello Aaron how are you doing, nice to meet you here.
For me the hardest was physically, it's a really hard job, especially when you begin and need to push 10-12hrs per day.
Also, finding your first employee is another big step !
Incredible interview! Also, as a woodworker, this information is so valuable.Thanks for doing this interview and for sharing! Paul sounds like an awesome guy who has certainly put the work in!
Glad you enjoyed the video! What would you have liked to ask Paul?
Great video. Great host and business owner.
I am sure you are a very talented woodworker but being in downtown LA is a huge huge huge help. Just Hollywood customers will bring you a ton of money and as we all know, LA is packed with new money who wants to show off their houses and their furniture. Looking at some of your work, that is exactly what movie stars want :)
All anyone needs to get started is a table saw, small air compressor with 1 1/2” nail gun, Brad nailer, 7/8-1 1/8” stapler and a cup spray gun, small 13” planer, 3x12 belt sander, 5” orbital sander. Under $3k for everything if you get the Porter-Cable pancake compressor with finish nailer set and a descent cabinet saw.
When a client cannot pay and their budget is less than what you can offer, you adjust what comes with the package. That way you can feel good about what you are offering and you are not walking away feeling like they took advantage of you. If they can only afford so much, which results in paying less, then the client receives less. They can always come back when their budget can meet the requirements of the product.
This is the cold hard fact be willing to lose money and don’t get into it if your not passionate …facts are there is no way around it get ready to lose money; that’s why you must love what you’re getting into !!!
Great interview… many good points about growth and job pricing. It’s a wonderfully fulfilling business to be in and can really serve you well creatively and financially… but it can suck the life and joy out of you if done wrong. This interview is a keeper for those considering transitioning from a hobbyist woodworker to doing it as a business.
Thanks Paul
Best
Greg
Hi Greg. Paul here. Thanks for the comment. You're absolutely right. I have definitely had some dark, brutal and painful seasons since I started the business. It's definitely a battle to retain the reason of why and how you started. I think that's why so many experts in the field "warn" others to proceed with caution! If you make great money doing something else and love woodworking, maybe just keep it as your hobby. But, if you really know it's what you want to do... go for it. You just have to know it will sometimes be boring, it will be hard, and you have to find your own way of continuing to feel the joy and fulfillment of the craft itself.
The following comment is about the embedded advertisement for Tailor Brands:
A single member Limited Liability Company (LLC) is considered to be a disregarded entity by the IRS. Also, if you fail to maintain strict corporate formalities (and most small business owners do fail at this), then the corporate veil can be pierced and your personal assets can still be attached.
amazing content and value, learned a lot from paul
Piękny film, piękna historia. Na polskim YT obejrzałem chyba już wszystko o drewnie i nic mnie nie zaskakuje. Czas odkrywać Amerykę ponownie :) jesteście na wysokim poziomie. Pozdrawiam
What an awesome video. Thanks!
Good questions and good answers. Overall a really solid interview!
Great video! Very inspiring.
maybe its just me but I know many woodworkers and the best advice about being a woodworker comes from the wood whisperer who I highly respect. I find people like blacksail and angel city to be outliers in the biasness. wrymwood is a company that I would say is far more accurate to the average woodworker that doesn't want to make epoxy tables and sell them overpriced. I agree start small and build from them and find what you love to do and do it. I know I don't want to make ton's of river tables even though they make a bunch of money.
Thanks for sharing your thoughts! ☺️
Thank you, woodworking is broad to satisfy with everything tool but basics can help you achieve, nice interview and class.
I love woodworking! This is one of the most informative videos of the realities and mechanics of woodworking as an income, thanks for putting this together! An often unspoken element of the craft and tradition is the integrity within it and how it permeates into the craftsperson over time and experience. This guy is super organized too. legends..!
Glad it was helpful for you, Boris!
Thank you so much this was amazing!
Awesome input for every entrepreneur out there
For sure! Are an entrepreneur yourself?
Thank you to Upflip and Paul, smart words to start a business, Paul has been there, I like what he said about starting small, just buy what you need.
You're welcome! Are you planning to start a business or you already have one? ☺️
@@UpFlip no to starting and no to I don't have a business, I really like what you said in real terms...
It seems to me the unsaid success key here how appealing his furniture pieces are.
Not my profession, but huge amount of useful informations...thank You!
Always a pleasure!
Very interesting interview, good job!
Unique sideboard..love your work..continued success sir
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
16:41 the owner wasn't letting him put that woodpecker on a lean😂
Thanks for watching! ☺️
Hilarious! So true. Anyone who has bought one would do the same. LOL
your work and designs are so beautiful - thank you for sharing behind-the-scenes philosophy
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
I could only dream of making $60k a month! I would be perfectly happy making about $5k a month working on stuff out of my garage.
Great video, per usual on this channel. You ask the pertinent questions. As someone who started a woodworking business 3 years ago, I can't stress enough, DONT GROW TOO FAST. Keep your overhead low and buy tools as you go.
Great points, Joel! Wishing you success in your business.
Amazing video! Love the honesty
Glad you enjoyed, Adam!
I'm a Woodworker as well and like others in this post, I am gradually moving towards this being my full-time job. This is one of the few great videos of its kind. Would have liked to hear more about his pricing but still a great vid. Thanks!
Thanks for the feedback, Daniel! Glad you enjoyed the video overall.
Fantastic interview! I really enjoy these videos. I set the goal to have my business an LLC by the end of the 3rd quarter
You got this! How long have you been in the industry?
@@UpFlip maybe 5 years. Time to grow
Awesome! Wishing you success!
“You can do it too!”
Has a multimillion cali investor lol
I like the interview and you did seem to ask all the right questions but when I'm left with is the question I got from looking at the thumbnail and title: what do I have to do to earn $2k a day? I was expecting to see a specific woodworking product/service he sells a lot but what I guess what you meant was that you have to be passionate about woodworking, put in the hours and get the right clients (I know I'm leaving out more stuff then the above)
Hoping to have a business like this in the future. Would be really awesome
Wishing you success Tobias! How long have you been woodworking?
@@UpFlip I've been getting an education in woodworking for about 3 years now. I've definitely made a lot of progress there, but the business side is often overlooked. Which is why your videos are so informative. Getting some inside knowledge on the know how, in the financial aspects is invaluable, so thank you!!
Of course! We're really glad to help. We have a lot of big plans in the future as well that we think will be really valuable for business owners.
Appreciate the insight .. valuable and FREE information that will prove invaluable as always guys. Thank you from the UK.
You're most welcome ;)
You did asked all question just right .. all question were answered very well.. Thanks for this upload..
It's our pleasure, Nikhil!
Thank you for giving back or forward depending on how you see it.
Did you learn a lot from this video? What are your takeaways? ☺️
Hell, in CA, you almost NEED to make $60K/mo. just so you can pay the rent on the building!
Great advice guys. Keep up the great work you two.
I loved this one! My dream is to have a wood shop and be a woodworker full time.
That's awesome to hear, Earl Jeremy! It's never to late to start your own. If you want to learn the nitty gritty of starting any business, please head on over to our blog and listen to our podcast for more detailed information. Best of luck! 👊
That's a very...clean workshop.
Great video. Learned a lot!
Excelente video excelente taller éxitos mi amigo que te vaya muy bien que tengas muchos trabajos y proyectos.
Appreciate the support! ☺️
Impressive woodwork…very unique..you inspire …
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
An enjoyable watch. Great practical advice. They clearly have some great talent there. Nice shop.
Beautiful shop, love the white walls, ceiling and floor. Great lighting, so important, used to work for industrial LED lighting company. Great tools, love the helical cutter jointer and planer. Nice looking cnc too. Gotta love Fusion360 for the win, my favorite tool. Shop almost looks too big, hard to imagine i'm writing that. Would like to see some of the finishing aspects of the process. Thanks for the video, very cool.
Thanks for sharing your thoughts! 🙏
Wonderful video!
Great to hear!
This was a great video. I love woodworking and this was very informative and thorough. Congratulations on buisness
Thanks @dnnortheastseeds ! We're happy you enjoyed the video! Are you thinking of turning your woodworking into a business of your own?
@@UpFlip I’d love to as a hobby only but I prefer making seeds for people and mostly vets to grow their own medicine.
Great information. Inspiring.
Lots of great information here! What would you have liked us to ask?
Hello how are you doing, nice to meet you here.
I didn’t know Tom Segura was this good at wood working
The 3 piece coffee table is cool
I'll retract my last comment, the dude has clearly put his soul into his company, amazing
California is extremely high on space/ building.. good interview first time watching.❤
Welcome to the UpFlip family! Here you can find a ton of business ideas, and hopefully, we can motivate you to start your own soon. You can also read more on our blog or listen to our podcast. No doubt you'll be writing your own success story soon. Best of luck! 👊
What a brilliant interview! As a small business woodworker, I thoroughly enjoyed this!
Thank you, Trevor! Do you have your own shop?
@@UpFlip Yes but very small. I turned my 2-car garage into a workshop.
Awesome! How long have you been in the industry?
Thank you 🤜🤛
We hope you enjoyed the video - thank you for watching!
What a great video I learned so much this is going to give me a head start Thanks a million
As a woodworker this is great advice. When I first started I bought all the tools I thought I’d use and ended up using only 20% of those tools.
Thanks for sharing your piece in the industry! How is your business going now? ☺️
Love this bro - hard work, smarts, and passion. Keep it up!
Thank you for this!!
That was a fantastic video on starting a business and developing it to a larger sustainable business. Commonsense advice.
I liked the equipment review about what you need to cover most projects. I would like hear a review on his vacuum and his CNC. Make model, pros and cons. Thanks, John
@@gae384 The 15-20 % margin is after the expenses. (So given a revenue of 60k and 20% margin, the business will have a profit of 12k and expenses of 48k, including salary, rent, machine related costs, costs for material etc.)
Awesome interview, great questions, thank you
Thanks for your feedback! Is there anything you would like us to cover in the interview?
I really love woodworking but I’m new to it so the confidence is t there yet. Hoping I can get this off the going
Best of luck! 👊
Great video! I found it very informative and genuine.
Thanks Scott! Happy to hear you found the video informative. What did you find the most valuable?
@@UpFlip He just seemed willing to share on his experience both good and bad.
Smart man!
Very interesting and informative conversation, both guys were great in the way they asked/answered questions, and they are both great at what they do.
Glad you enjoyed it, @Andrea!
this is very good informations in a short time was fun to watch.would love to meet you in person some day when i am in L.A.
Really nicely run business. Enjoyable and informative video ... and great looking (HUGE !! ) shop floor space. As someone who has already paid the price, can I please implore you and your staff to always always always wear safety glasses?
30K on electrical for a building you don't own? 115K on a 20k machine you can import from China. I don't understand the logic. 60K in revenue or profit? big difference. Just buy land with a big shop or barn, import the tools you need, and bootstrap it. Like most people, this guy didn't start a business, he created his own job that requires 80-hour work weeks not seeing his family.