home based woodworkers

woodworker taking a break

This question comes up weekly in my conversations with woodworkers all over North America. You should take into consideration the questions below when evaluating whether to turn your hobby into a woodworking business.

How much money do you need to live on?
What does your hobby bring in now?
If there is a disparity in these two figures, is it because your existing job is preventing you from growing your business/hobby?
How comfortable would you feel not getting a regular weekly paycheck?
More importantly: how comfortable would your spouse feel about you not getting a regular weekly paycheck?
Do you need oversight from someone to be a productive worker, or are you self-motivated?
Do you have reserves in place to cover your existing expenses for a period of 6 months?

These are just some of the questions that need to be answered. Explore these with your spouse and I’m sure this will provide a productive place to start the discussion on whether to turn your hobby into a woodworking business.