The $$$ of woodworking?

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While obtaining my degree in Fine Woodworking my instructor would continually say that there are two kinds of woodworkers – those who woodwork for money and those who woodwork with money.  I now know what he meant!   If you have your own woodworking business then you understand that decisions made are based on ROI (return on investment) and money spent for tools is strictly a business investment.  On the other hand, if you enjoy woodworking solely as a hobby, you only have to justify a purchase to yourself – or your spouse.  That means if you want to spend a large amount of money to obtain a tool from a specific manufacturer then it is perfectly okay. There is nothing wrong with buying name brand tools and if cash is not a factor then the decision process is easy to make!  However, for a business, if a tool of the same quality and performance is available elsewhere for significantly less money, it is difficult to justify the added expense for the higher priced tool.  I continually see used tools for sale by hobbyists that meet the criteria of woodworking with money. The tool was purchased with the intent of use but then sits idle and eventually is sold  at a loss.  A business simply can not afford the luxury of this option. So, the next time you notice a woodworking business that has “inferior” tools remember that the proprietor has to pay attention to the “bottom line.”

Enjoy your shop time,

Jerill

 

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About Jerill Vance

I was born and raised in West Virginia where I learned carpentry skills at an early age by assisting my grandfather and father. In 2009, after more than 32 years in the chemical industry, I left and enrolled in college. I obtained an Associate of Applied Science degree in Fine Woodworking from New River Community and Technical College in Lewisburg, WV in December of 2010. I am now able to enjoy the profession of custom designing and building furniture. I also enjoy mentoring or teaching new woodworkers.

Comments

The $$$ of woodworking? — 3 Comments

  1. Jerrill, you are right on the money. I have always been very frugal and must be able to justify my expenses whether in my shop as a hobby or as a professional remodeling contractor. I always research to get the best for the money no matter what brand. I have found even a brand name company sometimes produce an inferior item.

    • Larry,
      Only the end user can really decide which tool is the best option for their particular use. But everyone should still do some research to ensure they are getting what they need and can use.
      Thanks,
      Jerill

    • true, but i have also purchased the cheeper item and then had to purchase the better one due to the cheeper one did not work well.

      also, i have found out that festool products work better then cheaper products of the same use.

      if i have a tool that works better and thus saves me time. i make up the cost in time savings