Lecture Notes: Custom Cabinet and Furniture Shop by Myers

Business Overview

• Business Name: Harvesting Co
• Location: Kalamazoo
• Years in Business: 7.5 years
• Transition from Education to Full-Time Business
  • Previously a high school teacher
  • Resigned 4.5 years ago to focus on business full-time
  • Initially involved in craft shows and small projects

Business Evolution

• Started with carpentry and small subcontracting jobs
• Gradual shift to custom Cabinetry and Furniture including tables, dressers, and beds

Initial Investments

• First shop was in a small garage
• Tools: Cordless tools, hand tools, miter saw, Ryobi Mouse sander (upgraded over time)
• Homemade tools and borrowed equipment
• Progressive investments as business grew (e.g., spindle sander, table saw, air filtration)
• Relocated to various premises before current location

Major Equipment Upgrades

• Upgraded tools: 20-inch helical head planer, 8-inch helical head jointer, dust collector, router table, dovetail jig, track saw, vacuum
• Introduction of efficient machines like sliding table saw and line boring drill
• Cordless tools for on-site installations
• Emphasis on equipment that enhances productivity and precision
• Considering more upgrades for efficiency in the near future

Financial Investments

• Initial investments out-of-pocket; reinvested earnings
• Larger jobs leading to bigger investments
• Bought cargo trailer to haul cabinets and tools
• Evaluation of return on investment for new equipment
• Importance of strategic funding to support growth
• Realization of financial responsibility in business transactions

Advertising and Customer Acquisition

• Strategies:
  • Social media presence
  • Vehicle decal and trailer branding
  • Organic search and SEO
• Recent collaboration with marketing agency for targeted ads
• Focus on expanding product line and extending reach geographically

Product Range

• Predominant in custom Cabinetry and built-ins in Kalamazoo
• Designing and creating custom furniture
• Emphasis on Universal Design (aging in place) for accessibility and safety

Redemptive Employment and Apprenticeship Program

• Goals:
  • Create stable, paid apprenticeships for men emerging from homelessness or incarceration
  • Teach woodworking skills
• Use furniture orders to support apprenticeships and provide meaningful work
• Example of Redemptive nature in woodworking

Project Timelines

• Furniture: 4-6 weeks
• Cabinetry: 2-4 weeks
• Operating on a pre-booked schedule
• Streamlining processes for better time management and higher efficiency

Financial Considerations and Costs

• Major expenses:
  • Material costs
  • Equipment upgrades
  • Rent, utilities, and insurance
  • Payroll and labor-related expenses
• Consideration of 'labor burden' (cost beyond salary)

Pros and Cons of Woodworking Business

• Positives:
  • Transforming a hobby into a business
  • Building relationships and supporting family
• Negatives:
  • Managing customer expectations and schedules
  • Dealing with delays and logistical challenges

Material Choices and Preferences

• Hardwoods for furniture and face frames (Maple, Poplar, Ash, White Oak, Walnut)
• Use of MDF for certain projects
• Prefinished plywood for interiors

Advice for Entrepreneurs

• Be hungry and teachable:
  • Maintain a growth mindset and always look to improve processes
• Embrace risk and take leaps of faith
• Importance of continuous learning and improvement