Woodworking and wood carvings are the early age industry and one of the fastest-growing industries in any developed and developing economy. If you want to enter this industry and are not sure which one to start, find here a list of the most profitable low-cost woodworking business ideas.
Apart from mainstream wooden furniture, wooden handicraft also possesses a vast cultural and ethnic diversity which is applied to a range of themes, techniques, and crafts. Much of this growth is fueled by the huge demand for the domestic market and access to modern machinery to meet this demand.
Technology up-gradation & capacity expansion is a strong focus area today for the woodworking business entities in India.
Woodworking businesses can be initiated on a small scale and home-based basis. The field is hugely diversified and only you need to select the right product. Indian Woodwork Industry uses various kinds of woods, for example, Walnut, Sandalwood, Teak, Sheesham, Deodar, Ebony, Redwood, Rosewood, Red, Cedar, Sal, and much more. Recently, the embedding of brass wires has gained a lot of attention worldwide.
List of 10 Woodworking Business Ideas
Here is the list of most profitable wood-related business ideas:
1. Plywood Manufacturing
Plywood is a popular interior material for housing, ships, vehicles, and furniture. It is an economical, factory-produced sheet of wood with precise dimensions. Plywood manufacturing is a profitable venture for new entrepreneurs.
2. Wooden Furniture Making
Wooden furniture makes one of the earliest age industries in India and still is considered profitable. Ethnic and modern, both two types of furniture are in demand. Bed, sofa set, cupboard, almirah, dressing unit, sitting arrangements, reading table, and round table are some of the popular wooden furniture items.
3. Wooden Interior
The wooden interior is decorating the interior part of a room with wood and wood supplementary products. Basically, wooden flooring, wall, ceiling, and other interior separation made of wood are very popular. In this segment, your woodworking unit can support both domestic and corporate customers.
4. Wooden Pencil Manufacturing
The demand for wooden pencils or lead pencils is there round the year, especially among students and creative people like painters and artists. One can start a wooden pencil manufacturing unit with a low startup investment and can make a profit.
5. Wooden Utility Product Making
You can initiate a small-scale unit of wooden utility product making. Some of the most popular wooden utility products are the spoon, cutting board, mug, tray, bowls, chopsticks, cabinet, etc.
6. Wooden Decor Item Making
Wooden decor item has enormous revenue potential. Additionally, you can establish a small-scale wooden decor item manufacturing unit can with small startup capital. Some of the most popular wooden decor items are wall hanging, photo frames, toys, sculptures, pens, plant pots, jewelry box, and the list will go on.
7. Wooden Jewelry Making
Nowadays, wooden contemporary jewelry is one of the most popular fashion accessories. Wooden jewelry making by using technically upgraded machinery is one of the good revenue-generating ventures considering the low startup capital required.
Selecting the right wood, crafting design and shaping, finishing and fittings are the major steps involved in the wooden jewelry-making business.
8. Start a Woodworking Workshop Unit
If you have experience and a creative mind to create different types of wood items, opening a woodworking workshop manufacturing unit can fetch you good returns. You can sell items to direct customers as well as retailers.
9. Wooden Crates
Industry sectors like food and beverages, alcohol, and chemicals use wooden crates widely for delivery needs. There is a good demand for wooden creates round the year. One can start a wooden crate manufacturing company with low investment.
10. Create an Online Shop and sell Wood Items
A lot of people nowadays buy wooden products online and the trend is expected to grow. You can create an online store and sell your own wood product as well as items manufactured by fellow manufacturers.
How to Start Woodworking Business?
Here are the basic steps to starting a wood-related business:
a) Get Proper Licenses
In starting a woodworking business you will need to register your firm first.
For a small-scale setup, you can register as a sole proprietorship company. Apart from this, you will need to obtain a Trade License and GST Registration.
For a medium-scale or large-scale woodworking unit, you must apply for NOC from Pollution Control Board.
b) Choose the Type of Wood Items
Product planning according to the quality specification is the first stage of the manufacturing process. Determining the manufacturing method, schedule, and calculating the cost of the product is the main aspect of this step.
c) Buy Proper Wood Making Machines & Tools
Selecting and obtaining the right tool and machinery is the next step. You also need to procure raw materials such as wood and other consumable accessories. For a small-scale woodworking setup, small tools are enough to serve the manufacturing purpose. But for a full-scale commercial factory setup or for an import-oriented unit setup, procuring and installing technically upgraded machinery is important.
d) Product Development
When all the preparations are complete, commercial production begins. Even at this stage, you can perform modifications and improvements in the manufacturing line.
e) Inspection & Shipment of Finished Wood Products
Manually, it needs close inspection to make sure there are no defects or flaws. Only those goods that pass the inspection deliver to the customer. Additionally, you must pack the items carefully to prevent contamination or damage.
Setting up a small woodworking business needs to require a big investment. According to the desired product, selecting the right machinery and equipment is the major factor in the woodworking business.
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.