Shared woodworking spaces can grow your small business!
Introduction
If you're a small business owner who wants to get into woodworking, you may be wondering if investing in your own workshop is the way to go. Well, I've got good news: it's not! That's because there are plenty of shared woodworking spaces out there that can give you all the benefits of having your own place with none of the drawbacks.
Shared woodworking spaces can save you money.
One of the biggest problems with starting your own business is that you don't have a lot of capital to invest in it. You can't afford to take out loans, so you're basically stuck paying all your expenses out of pocket. Renting a space can get out of hand fast. Once you factor in yearly rent increases, insurance, rent, TMI (Total Monthly Installment), and utilities as well as all the other normal operating expenses like buying machinery and tools, it doesn't take long for these costs to balloon out of control.
Buying your own space would seem to make more financial sense in the long run since then all those costs are paid off over time through mortgage payments or lease agreements instead of paying them all upfront at once like with renting; but most small business owners don't have enough capital on hand for such an investment either...especially when there's still no guarantee that they'll be able to generate enough income from their woodworking shop/studio/workshop/whatever-you-call-it!
The solution? Find another way!
They can connect you with other woodworkers.
At a shared woodworking space, you'll be surrounded by people who are just as passionate about woodworking as you are. You can learn from them and share ideas and resources. You can network with other woodworkers, getting advice from those who've been in the industry for years. You might even find your next business partner or collaboration opportunity!
A shared workshop can be a great option for small businesses
If you're thinking about a shared woodworking space, here are some of the benefits:
You don't have to take on the financial burden of setting up your own shop.
You can get the equipment you need without having to buy it yourself.
You can work with other people who are interested in the same things you are.
You can grow your business without having to worry about space
Conclusion
In the end, there’s a lot to consider when it comes to starting and running your own business. But at the end of the day, having access to a shared woodworking space can help save you money while connecting you with other small businesses in your area who share similar goals and interests.
