I did it! I quit to start WW business

Re: I did it! I quit to start WW business

Frank Mutchler in Colorado Springs

>Congratulations (I think), George. Life is short, too short to spend it doing what you don't want to. I heard a man once say that the priciest real estate in the world was the cemetary. The ground is full of unrealized dreams, unwritten music, poety, novels, unbuilt buildings, unborn children....you get the point. Live the risk and BE ;>)!!

Re: I did it! I quit to start WW business

CBT

>Congrats! Now you can live the good life. More power to you!

CT

Congratulations, George

Ted Owen, Pittsburgh

>I hope it works out well for you.

Best, Ted

Good Luck!

Brent Langdon, Sterling, VA

>San Antonio is a little far for me to commute, so let me know when you open the Northern Virgina branch.

- Brent

Re: I did it! I quit to start WW business

Ernie Miller Topeka

>What type of classes? any preproduction class prices? Good luck wish you the best.

Re: I did it! I quit to start WW business

Pam Niedermayer - Austin, TX

>George, that's great, congratulations. Need a Japanese tool using teacher/partner in that school? And now that there are a few of us in Austin and SA, maybe we should start talking about forming a guild.

Pam

Congratulations and Good Luck

joel

>

Re: I did it! I quit to start WW business

George D. Huron

>A guild is a good idea. I may need a guest teacher down the road to teach the proper care and use of japanese tools. Right now I am hoping to establish a customer base and refine the pricing structure and lesson plans. In order to keep prices down, I may rent space at neighborhood party houses or churches or schools on the day class is taught. I would go in and set up, teach the class, and then load it up and go. What do you think?

Cool might as well enjoy yourself

Jim in Burlington Ontario

>

Re: I did it! I quit to start WW business

Pam Niedermayer - Austin, TX

>I think it would be a lot of work for a one day class, but certainly a good way to get started. Maybe there's still a lot of vacant office space in smaller buildings in SA that are desperate enough to give it a go? Then you could do more than one day at a time. Have you checked out insurance yet? Not a trick question, I haven't either; but I'm about to order "Profitable Woodworking" by Martin Edic to find out the issues.

For the moment, I'm enlarging my shop from impossibly small to possible for 2 or 3 students, although maybe a stretch. I hope to hold my first test class in May or June.

Pam

Re: I did it! I quit to start WW business

George D. Huron

>Set up and teardown won't be so bad (I designed and built the benches for this purpose). If I rent the space for two, three ... etc classes then I agree the set up and tear down won't be so bad. As for insurance, the class is for hand tool usage only so potential self harm should be minimized but I am contemplating options for insurance or maybe have the students sign a release. Let me know how your school works out!

Re: I did it! I quit to start WW business

George D. Huron

>The classes will be hand tool classes to start out with. A candle box, wall box, night stand, wall shelves, step stool leading up to chimney cupboard, blanket chest type of projects. Every student gets a bench adjusted to their height and their own set of hand tools to use for the class. I am still working out the prices and the website.

Re: I did it! I quit to start WW business

Pam Niedermayer - Austin, TX

>I'm not thinking of starting a school as such right now, just giving a few small classes but longer, like building a full piece. I've long been thinking of starting a Hiraide type school/tools-for-sale operation, but I'm not ready to do this yet, it's a big deal and I don't know nearly enough, it would cost about $50k just for inventory.

Pam

Good Luck (NM)

glh

>

Class Prices

Derrell in Austin

>George, good luck. I hope things work out for you. It sounds like the classes you are thinking of are similar to those offered at Homestead Heritage. I took a one day class there that cost $100. You can at least see what they charge to get an ideal of prices.

On a different note, I have been running my own business for almost 5 years and I have some advice for you. First, a good accountant can be some of the best money you will spend. Mine has really saved me time and has been worth every penny. Even if you don't think you want to use one to start with, you should at least talk to one before you get rolling. It is better to get started off right than have to hire someone to fix things after getting into a mess.

You should also consider incoorporating. One of the main reasons for this is to shield all your personal assests. I am sure you are a great guy, but I am also sure that there is some SOB out there that love to try and sue you after doing something stupid in a class. Don't take chances with what you have worked so hard to obtain. This is another area where a good accountant can advise you.

At any rate, I live in Austin and am just getting into the hand tool thing so I am glad to see another option for taking classes starting up.

Best of Luck

Re: Class Prices

Pam Niedermayer - Austin, TX

>Having run my own software development company for 24 years, I agree completely with you on your business advice. Although being incorporated doesn't shield you completely, especially in a small closely held corporation, most people think it does, thus lessening the likelihood that you'll be sued. And these days it's much easier to incorporate, can do it all online in Texas for about $300.

Pam

Re: I did it! I quit to start WW business

Jack from Maine

>Good luck on your enterprise and congratulations on taking the big step. One thing has been proven over and over in this country and that is that anyone can make it here. All it takes is the energy,ambition and smarts to pull it off. I quit working for other people years ago. Mostly because I'm smart,proud and stubborn and I hate being told what to do. I live well,I'm content with my life. What more could a person ask for?You'll do well.---Jack

Re: I did it! I quit to start WW business

John Aniano in Central NJ

>George,

Best of luck to you with your new endeavor! I, too, left the high-tech world for specialty woodworking (making and repairing violin, viola, cello and bass bows + making specialty bowmaking tools), and although my stress level has gone way down, the big $$s haven't come rolling in yet; I have to give it time.

Although you are in the teaching end of things and might not need to know this, I'll mention it anyway: I have found that it is MUCH easier to make things than it is to sell them. It takes a long time to develop a reputation, and then you can start building on that.

Keep us posted on your progress. I'm sure those of us in similar situations can learn from your experiences.

John

Re: I did it! I quit to start WW business

George D. Huron

>Thanks to everyone for the encouragement and advice. I will give the link to my website once I have built it (in about 2 months).

Re: I did it! I quit to start WW business

Pam Niedermayer - Austin, TX

>John, you didn't tell us! That's great, hope it starts working out for you.

Pam

Insurance Requirements

Greg Phillips, Medford, OR

>Most churches and other buildings that would rent space will require you to have a liability policy in order to rent their facility. I am employed by a church, and I know that our insurance company requires anyone who rents our building to carry a $1,000,000 liability policy. This is for any type of usage, not just for things that involve tools.

Regards,

Greg

Re: Insurance Requirements

Pam Niedermayer - Austin, TX

>That cost me about $700 a year in Massachusetts. Given that my car and home owner's insurance is about 4 times more in Texas, that's looking like a hefty expense for a startup.

Pam

Re: Insurance Requirements

Matthew J D'Avella, Kona HI

>I've been quietly following along. First of all, good luck George.

As for the insurance...

Pam I would have assumed that you already had a Liability policy since you are in business. If not, then look into getting it soon, and get your car/truck covered by the policy as a "company vehicle". Your auto insurance will most likely go down in cost and a 2 million dollar policy for your shop (commerical liability) should be much more reasonable than you might think. I have a policy for 2 mil. in coverage and my truck insurance for a total yearly expense of under $900. Before I had the Liability policy my auto insurance alone was $1500. Ask a commerical real estate company who they recomend for insurance.

Matthew

Also consider:

Brian, Boothbay Harbor

>If you rent a space for woodworking that is in a building that contains other types of business you are going to change the whole rating structure of that building for property insurance.

Woodworking is a very high rate for insurance property and will increase both the landlord's premium for the building and all other tenants for their personal property.

That is sometimes a cost you have to assume. Best bet is to find a stand alone building.