Move or Sell-out?
Consolidating my life after six years in business is a common reality, especially for a senior-aged one-person shop. The good news is that a custom small non-furniture woodworking business is usually more “movable” than a larger shop because it can rely more on bench-scale tools, jigs, and repeatable processes instead of large stationary machines. In many cases, you can relocate the business by keeping the tools that directly protect your quality and speed (your “core kit”), and selling the items that are heavy, hard to move, or not essential to your current product line. The decision typically comes down to physical handling, space at the new location, and whether replacing a machine later would cost more (in money and lost time) than moving it now.
Whether you can move “everything” depends on what you include in “the business.” Designs, patterns, templates, jigs, brand name, product photos, listings, customer list, and proven SKUs are often the most valuable and easiest parts to move—many can be digitized and stored safely with minimal effort. Machines and large shop infrastructure (big dust collection, full-size cabinet saws, heavy jointers/planers, compressor systems, lumber racks) are the hard part. For a senior operator, it is often rational to plan for a partial move: keep the portable and high-impact tools, move only one or two “anchor” machines if they truly drive your margins, and liquidate the rest locally to avoid injury risk and high rigging/transport costs. This approach also keeps the business attractive to an investor or buyer, because it shows you have a clear, repeatable production system that can operate in a smaller footprint.
This year is still a good year to invest in a small, single-owner craft woodworking business focused on custom small items because the model can be efficient, resilient, and easy to market directly. Small custom items; gift products, keepsake boxes, signs, engraved or inlaid pieces, cutting/serving boards, awards, small home organizers, specialty parts, and personalized items sell well when you offer clear differentiation: better materials, cleaner finishing, personalization, and reliable delivery. These products also typically have shorter build cycles, which helps cash flow: you can take deposits, turn orders faster, and avoid being “stuck” for weeks in one large build.
The question still becomes to sell it or move it to a new location?
Financing under $200K is also workable to evaluate because the interest costs are now easier to estimate. As of this Spring, the U.S. prime rate is 6.75%, and many small-business loans start off prime plus 6%. That does not mean every borrower pays 12.75%, but it provides a realistic “upper-bound” planning number. And it looks like the USA business plans for this year are looking very positive. Perhaps, a loan is the answer in a good market?
Startup was hard for me six years ago. Startup is hard for everyone: buying tools, building jigs, learning what sells, making early mistakes, and slowly building a reputation takes years. That is why keeping an established shop’s working tools, designs, and proven processes—rather than restocking from zero—often saves both money and time, and it can make a transition or investment decision much easier and less risky.
And then there’s that question …