You will receive a variety of advice in woodworking books and articles. One of the points the books will debate is whether or not you require commercial grade tools to start your business.
Commercial grade woodworking tools are costly in comparison to consume grade ones. Does your woodworking business justify the cost of large and expensive machines? While they make the job simpler and easier they are an enormous expense that puts a big dent on your profits.
It becomes difficult to recover the cost if you are running a one-person woodworking business. A lot of sales are required to match the cost of buying and maintaining expensive woodworking machinery. In situations it also becomes necessary to hire more people to help operate a large machine. This is an added expense and also creates the hassles of payroll.
In a nutshell, expensive woodworking machines and tools are not the prerequisites of a financially successful woodworking business. When looking for power tools for your business, you can get along just fine by using consumer grade ones as long as you choose the ones of high quality.
Actually, there is a way to make your existing tools serve a greater purpose in your wood-shop. Here is an article we wrote on how to get the best out of your woodworking tools. In it we talk about how things like using accessories that enhance the performance of a tool, make it more accurate etc., as well as how to choose the right tools to by and get them for a bargain.
It is best to try and start with the tools that you already have. Try and avoid investing a lot of money in buying new woodworking tool right in the very beginning. Wait for the work to catch up to justify the cost of purchasing expensive machinery.
If you do need new woodworking tools by only the ones that you need for the current project. You can always invest more money later on as your income grows.
Whenever you buy new woodworking tools you should only buy the ones of high quality. The cheaper tools might save you money at the time of purchase but cost dearly more in 2 respects. They are not accurate enough and cause a waste of time and effort and they run down or break down much faster creating the necessity of purchasing new tools all over again.
We are going to discuss more about this in our post “ How To Collect Power Tools”.