Is everyone making money with their CNC machine? Hey, I am new to the site and the world of desktop cnc. I barely know solid works and I used a cnc lathe 12 years ago in school. Over the past year I have been getting into wood working and here recently just decided I wanted to get a Shapeoko but I would like it to pay for itself. I can see by looking at etsy and online elsewhere that many people are selling woodcrafts but I wonder just how saturated is the market. If anyone has any advice on starting a wood craft business that would be greatly appreciated. I genuinely would like to learn from your experiences down this path. Thank you in advance.
Also, I havent purchased the cnc yet but plan on doing so on black friday. Hoping there will be incentives.
Looking on sites like etsy can be very discouraging because you will likely see many people selling the same sorts of things you have in mind, often at a far cheaper price then you could make it for. That being said, thats no reason not to throw your hat into the ring. The beauty of a cnc is that the number of different items you can make and sell is almost limitless. And there’s always a market for items which customers can customize which is what cnc’s are great for. Hope thats useful
Thanks for the positivity. Your right, looking on etsy makes me ask “why bother?” But you’re also right in the fact that creativity is basically limitless and that is just where I guess I need to strengthen my confidence. I just wonder about true pay back times. I’ve heard a lot and realize it is all about the time and effort that is put into that matters.
Wow, I am pretty excited now. Just because this community seems really legit. I was definitely not expecting Kevin to comment. I have previously watched the videos of you talking to different shop owners and talking about making products for weddings etc. I will definitely watch more/rewatch and take notes.
I am starting to want to advance my timeline from Black Friday to today.
Thank you Will and Kevin for the prompt advice.
Most people are scared of saturated markets. “Saturation” is a sign there’s tons of profit to be made. It means that there’s huge demand, and also lots of competition chasing big money. It’s a good sign as long as you’re not average. Be average and you may struggle or get crushed against the competition… aim to be the best in your field and you can make serious money even if you don’t fully reach that goal.
Find the best providers in your chosen niche making the most money then brainstorm ways the products can be improved on. Add unique variations, improve the quality, put your own unique spin, do market research and development etc.
Two things people usually fail on is traffic generation and marketing (converting traffic to sales)… but if you’re using a platform like Etsy, Ebay, Amazon then it’s pretty easy.
Well consider me most people as far as fear of market Saturation. However, I’ve never looked at it from that point of view. I will definitely take your advice on finding the best in the business to mimic then innovating. Thanks for that.