Where would I start? This is why my father wasn’t successful in his own business. My mom kept telling him that even his friends were customers.
So should I look for your blog post Huff? I want to determine all this now before I do the next piece for anyone. I don’t know where to start. E.g. my power tools were given to me and how would I figure in the cost of replacement? What a loan would cost monthly to replace them all? It killed me with my walnut table because, I didn’t have a resource for secondary wood and the popular was $35 at Home Depot. I think a can of Zinnser and paste wax was over $20. How do I determine my electric? My wife said she hasn’t really seen too much of a change, but there’s a change I know. I’ve bought old Disston saws, sharpened them. De-rusted Stanley planes and refurbed. I’ve made a few tools, jigs, etc. I’ve bought books, … you name it I’ve spent it.
I’ve paid close attention to skills and what takes time. I don’t have a planer and while I love hand planing, the re-sawn, glued wide boards take time to prepare for use. I try to do everything like what I call “hustle work”. E.g. If I set a fence, router table, point fence, angle, etc. I do everything in hustle mode. Whistle while you work and get it done. And, the planing and the dovetailing take time. You have to slow down.
If there is a book, web site, comments, whatever in establishing this shop price, point me. I’ll be your apprentice from afar. I also would love an explanation using that shop rate on how one would price e.g. a group of cabinets for someone’s kitchen.
David L. Whitehurst