How to Price Woodworking Projects

[@731Woodworks]

Check out my other woodworking business videos here: kzbin.info/www/bejne/baGsfHtjd6h_paM

[@fredastaire6156]

Clicked on a woodworking video, got a real talk lesson in the philosophy of how to treat others! You, Sir, are cut from a totally different cloth. This world needs more people like you in it. Good Day!

[@731Woodworks]

Thank you. I appreciate that

[@debragreen9778]

Amen!!!

[@jimadams6159]

It is so refreshing to hear how being honest and fair to your customers is part of the way you price your products. I wish many more people would adopt this attitude. Very inspirational and helpful. 🤛👊

[@731Woodworks]

Thank you 👊🏻

[@carbonfusion]

I agree 100%! This helped me so much! I am a beginning/intermediate woodworker as a personal hobby, and want to transition to a small business local/Etsy online business just like Mr. Outlaw, and was struggling with other videos enumerating a minimum of 30$ USD an hour to make sure you profited from the one-off/venture piece. Hearing him say, that at times he had charged a customer @ cost for the learning experience, and everything else ethereal profit made understand the nuances of cost vs. benefit. Additionally, and primarily, asking the good wife is probably going to be the best advice on pricing I have received from ANY channel. AND, officially embracing and praising her staging expertise as well, as was mentioned in another one of their videos. Praise this channel; I love it!

[@731Woodworks]

Thank you 🙏🏻

[@j.richardmoore5865]

Thanks, brother. Instead of buying a decent used truck, I invested in a small workshop. But I would never had done this without good folk like you who take the time to share their knowledge!

[@731Woodworks]

Thank you

[@TheNachoDaddy]

Good luck on your shop

[@j.richardmoore5865]

@@TheNachoDaddy Thanks, that means a lot! Truth be told, I barely know what I am doing. Hence my gratitude for encouraging people like you and 731 Woodworks!

[@TheNachoDaddy]

J. Richard Moore You got this man! The only way to learn is to make mistakes along the way and learn from them. At least that’s what I keep telling myself LOL

[@j.richardmoore5865]

@@TheNachoDaddy yeah, but my previous foreman didn't quite understand that lol. 🤣

[@StormLaker]

You and your wife sound like the same discussions we have. When I am unsure about something, I always go to her, she always has another perspective that helps me make sense of a situation. I just sold a cabinet that I made the first time, and priced it according to what her input was. And the best part she was right- I was underselling myself and my skills.

[@papakurt862]

I found the best way to be competitive on pricing custom projects is to build 3 at a time and list the other 2. It takes more time to set up a router than to rout, so if you run 3x you cut your time and cost 3x. Good for you and the customer. Love your channel

[@waza987]

No idea why I am watching a woodworking channel. But this is good advice for anyone making a product whether they are woodworking, sewing, knitting or 3D Printing.

[@spencershaw864]

I just found out about your channel about a week ago and I have to say that I love the way you carry yourself. Youre very humble and PREACH honesty. I admire that.

[@731Woodworks]

Thank you 🙏🏻

[@blughsr]

the hardest decision for me is pricing and seeking perfection.. I will use your advice to make some changes.. im starting to reorg my shop to be efficient.. so thank you for all your advice and public profession of Christ through your business.. You gift is making room for you.. Thank you both..

[@paul1060]

This topic isn’t discussed enough on videos. Pricing, dealing with customers , difficult customers and customer service. Nice video man 👍🏻

[@jesusmdelacruz1]

This is probably the best video on pricing woodworking. Great Tips.

[@731Woodworks]

Thank you

[@chetusher444]

Great video. Fair pricing is truly the way to go. I have a mobile rv repair business that runs me ragged in the summer but nothing in the winter. As I live in Wisconsin and don't have a shop. Businesses with a shop are charging $30-50 per hour more then I do, but their overhead is way more then mine. God laid on my heart to be fair with my customers. I have been and He has blessed my business tremendously. I am exploring business ideas for the 5 months in the winter.. I was leaning towards woodworking when I stumbled across your channel. You have set me in that direction. I have about 30 pages of Scripture that have verses about business. I have been read 2 pages a day for about a year now. It puts everything in perspective. God bless you, your wife and business. Thank you for posting these videos.

[@michaelstafford8043]

I worked for myself most of my life, and we stayed busy beyond belief I used to tell my help it isn't because we are so great it is because we are fair.Great video!!! Great advice...

[@shawn5141]

Great video. As someone who makes different items for friends and family, one of the toughest things is pricing and feeling fair. Find it hard trying to put a price on things for people close to me. Big fan of the channel and you standing on and up for your faith

[@kerenlumley1558]

Thanks for the tips!! I’m new at wood working, I love it, wanting to help my husband pay our crazy monthly bills. I’ve been making trays, cutting boards, deco. Type stuff. All Christian based and all handcrafted and unique. My husband wants me to put on Etsy and this is blowing my mind!! Fees, shipping, time… clueless on what to charge.. thanks for the tips for us newbies 😁

[@bloodtypexneg]

Amen. I am so happy that there are people here on KZbin that are professing their faith in their videos. You have gained a subscriber. Thank you for these videos. God bless!

[@731Woodworks]

Thank you

[@Bsteiny42]

I've been watching woodworking videos for about 5 years trying to build up my hubby hobby business. I've gained a ton of skill, and I'm literally in this videos target audience this week. I blew a estimate for a table, he's going to get a good deal...but I know he's coming back for other products now. To hear your confidence and reassurance, and reasoning makes it easy for me to continue on!! After 5 years, I've easily found my favorite youtube channel!

[@731Woodworks]

Thank you. Glad the videos have helped you.

[@billprocter942]

Been watching your old videos and your lifting is working for you. Keep up the good work. My new pricing method is how much I need to charge to buy new tools, lol.

[@731Woodworks]

Lol. Thank you. Back in the day of those old videos I was running a lot. I stopped running and started lifting. Took buying always plays into it

[@billprocter942]

@@731Woodworks I'm running a lot. Guess I should start lifting 😂

[@731Woodworks]

Lol. About a year ago I stopped running because I wanted to add size and running will compete with lifting in strength and size gains. It was a mental struggle to say the least to completely stop after over 10 years of running multiple times per week. But I do miss running a lot.

[@hovan1977]

Wow...I just lucked out by finding your channel! I'm 43 y/o and have been fascinated with woodworking ever since I was a little kid. Hell...I borrowed my dad's tools while he was at work and built my own treehouse when I was around 11 years old (looking back now...using a circular saw at that age was nuts!). I have always wanted to start something on the side to begin to find some financial freedom and do something that I actually love but I've never known where to begin. I think I found some answers on your channel. You seem like a genuinely nice person and I'm thrilled that I clicked on your video titled "Top 5 Woodworking Projects That Sell". You'll be hearing from me a lot now...

[@731Woodworks]

Awesome! Can't wait to see what you build! Hit me up on Instagram or FB to share you projects @731woodworks.

[@carneyxii]

We do the same for pricing. Let’s talk and see what makes sense. Love it. I thought we were just always being nice, we are not even close to pros so this was awesome to get some reassurance.

[@731Woodworks]

Awesome. Keep doing that. 2 are better than 1!

[@animaloverload7465]

Mrs. 731, that man loves you and you can tell. Excellent video. Starting out, I'm making little boxes and actually got asked to make one for my boss's wife. Looks like a third-grader built them, but they're getting better.

[@731Woodworks]

Ha. Practice makes perfect

[@jackie-mccallister]

Thanks. Pricing is a big challenge for me! Love the Power Tip and the great relationship example y'all just did. God Bless. See ya next time.

[@731Woodworks]

Thank you. She’s amazing!

[@Every-knee-will-bow]

Loving the page! A woodworker myself for several years, and a christian, I look forward to your videos. Also, you need to know you are an awesome example and a great representation of a biblical working man...oh yeah, my wife loves the page too...we watch together! God bless!!

[@731Woodworks]

Thank you Russ!

[@Every-knee-will-bow]

@@731Woodworks Matt...I meant to ask you where you get all the t-shirts you wear ? I really like them!

[@ronmckenzie386]

Thanks for this video recently I've decided to start pushing my woodworking along with my wife's help. And pricing is something we struggle with. Ur information in this video will help alot

[@731Woodworks]

Glad it helped!

[@doddiggins7622]

Fellow Arkansan here in Fort Smith! Fairly new to your channel, but I enjoy watching and learning from you. I'm working on getting started trying to build and sell items. Thanks for being an inspiration, both in woodworking and just being a good human in general. Stay safe brother!

[@731Woodworks]

I appreciate that the kind words. Welcome neighbor

[@juliet9548]

I love your honesty, integrity and humility. Your intention to be fair to your customers while proudly and confidently producing a quality product shows your honesty and integrity. Inspiring!!!!. I totally vibe with that! Also, your willingness to seek your wife's (or another trusted source's) advice re pricing speaks volumes for your humility. I'm a beginning woodworker I love wHat I am learning and creating and you are the the kind of wood crafter/entrepreneur i would happily emulate. I'm your newest subscriber! Best wishes from Trinidad and Tobago!🇹🇹

[@731Woodworks]

Thank you

[@jimmeeks2632]

Matt you're so right, be fair to your customers, its the right way to do business and like you said, it will make business for being fair! Love your videos!

[@731Woodworks]

Thank you!

[@dmadhooligan1507]

Agree with other comments...this is one of your best videos yet. Always practical, sound advice. You’d make a great teacher. Thanks for making these. Much appreciated.

[@731Woodworks]

I appreciate the kind words.

[@robertwright5630]

The best thing in this video is “be fair and honest”. Thank you for making your videos.

[@calendarbrookstein7317]

Just come across your channel you have a great take on-running your business being fair and honest the only way to go love how you explain things looking in your eyes feel like a friendship forever thank you for doing the videos

[@michaelkey3915]

I just wanted to say thank you for being honest about how you price your work. This is something I have had issues with in the past and I know I'll continue to have problems with as I always think I'm overpricing something when in reality my friends and family are always telling me I'm selling way too cheap but I can't help but feel like they are just trying to be nice and want me to feel better about myself and the stuff I make.

[@jimrobinsfamily8734]

Your videos on how to sell on Etsy and what to charge for items have helped me greatly. We are just getting started in this business and you are invaluable to us. Thank you very much.

[@731Woodworks]

You’re welcome

[@totallysick88able]

Great advice! I’m just starting out and It’s clear I’m going sell for a loss on my first few projects because I’m starting from scratch. I’ve already spent about 1k on tools and overhead items to get me going. The longer someone dose this the more extra material and leftover supplies they will accumulate.

[@stevendouglas_harwellsr1784]

Your video has been very informative for me. I'm starting my own woodworking business and wasn't sure if i was charging too much for my projects. After watching your video I'm selling myself short. Thank You so much for the input.

[@woodandwheelz]

I always have to go to my "Financial Advisor" (A.K.A. - Wife) for pricing on my custom 1/64 diecast/dioramas. My problem was always that I would only charge what I would pay (also a cheapskate). She has reminded me about all of the things you mentioned like material, time and talent. Yes, talent/skill, you can't forget that. Also, I never realized how much I say "tuba-four", and such, until I started watching your videos, LoL. I discovered Jay Bates a few years ago and his videos put the bug into me to get back into woodworking, but I was living in an apartment at the time. Now I've discovered your videos and have been binge watching just about every day (hopefully boosting you views as well) and, yes, you are inspiring me to finally get my garage set up and get motivated. Being a 100% disabled Vet, Navy, that ain't always easy. I've started setting up though and am finally finishing up on my 1940's Craftsman Drill Press restoration. I've already restored my 1960's Craftsman Contractors Table saw and some other tools. I'm hoping to get a planer in the future. In all, tools are not an issue. Well, if you have an extra one of those Kreg K5's sitting around, my birthday is coming up in December, LoL. My In-laws already restore or convert tables and chairs into Farmhouse style furniture, now I want to add to what they are selling to help both of us out. In our area, about an hour outside of Atlanta, those stove top covers sell for around $75, no more. I'm ok with that. Thank you again for another great informative video. God bless, Brother. Keep up the good work. If you ever feel the need for a custom diecast, send me a message.

[@731Woodworks]

Thank you for your service. Great info. Thanks for sharing

[@nottofuninja9864]

I love your channel.ive been a carpenter for over 25 yrs and I’m starting to get into some 2x furniture,thanks for the great ideas

[@731Woodworks]

Awesome! Thank you!

[@davidmccord8966]

The Win/Win for the win. Great to see people looking out for the customer as well as themselves. You're knowledge has value too.

[@731Woodworks]

Thank you

[@williamclark9743]

Man, I've been a subscriber of yours for less than a month. I REALLY like how you do things, I like your products and i like the fact you just bounced ideas off your wife and got her input. MUCH respect for that. I do the same thing. I do not trust myself to price things. I've already created a 3 product line of products to start my business and haven't sold anything, which is ok. At least I know what the market is AND what it's NOT looking for. I'm starting another line of 3 products next week and I'll see what happens. Keep the great content coming. BTW, I love Proverbs 27:17. AWESOME shirt.

[@731Woodworks]

I appreciate the kind words! Thank you

[@iamafan7492]

Your honesty in this video won my subscription to your channel. You are honest, fair, and just trying to make a living at the same time; I can relate to that.

[@731Woodworks]

Thank you

[@HardKnockDesignandBuild]

Awesome pricing video! Just starting out in the YT world. Yours, and a lot of the other communities information has been game changing. Thanks a ton.

[@carlcorke3378]

Thanks Matt. I subscribed about a week ago and you have helped me out a ton. I am starting out similar to your story....borrowed tools from my brother and a $100 table saw! 😂 But, I'm loving it. I've been a tradesman my whole life, and know my way around tools pretty well. It's discussions like this that help me the most. You're doing great work my man! Much appreciated!

[@FLIguy317]

I’ve been following you for awhile now… thank for the great work your doing on and off the camera… you’ve helped me out a lot… I have a lot of ppl starting to ask me to build things from pallet wood. I would love to transform anything to satisfy my customer. But one thing I do say to them is that saving money on your builds using pallet wood is only saving if you build them yourself. (Customer) because then I’ll have to change to for tearing down a palace and making the wood presentable for your project. Sometimes it’s best to just get the right quality wood needed for the job… it’s mostly do to when they ask for big items like and out door bar or deck platform…

[@monicaharvell]

Excellent video. Thanks for sharing your experience. It helps those of us who are considering taking the plunge to sell. And LOVE that you quoted scripture and used it in such a practical application. Just subscribed. Can’t wait to watch more of your amazing content!

[@731Woodworks]

Glad you liked it

[@chefboythc]

You know I've been watching your videos for some time, I really dig your attitude, I'm definitely not a woodworker per se but I'm definitely a Craftsman, I've always wanted to sell the things I build but never really had any confidence to do so and I will say that the way you go about things makes it seem very possible appreciate your videos sir

[@flipincaboken]

I like the way you think and how to take care of your customers and yourself without ripping their heads off! Great video thank you!!!

[@731Woodworks]

Thank you

[@jonathanhaney9207]

I’m just getting started selling things and this is by far the best pricing advice I have seen yet! Thank you

[@731Woodworks]

You're welcome

[@franklangel1521]

this is the first time I seen any of your videos but I liked the info you gave but the most important thing I loved about the video is that you quoted scripture and God is the most important thing in my life so I will be looking at your stuff more. Thanks for the video and God Bless you and your loving wife.

[@steampunk8036]

Brother, I appreciate all of your videos. Your quote from Proverbs is right on. Also, I appreciate you sharpening my iron. God bless.

[@731Woodworks]

👊🏻 thank you

[@waynemorris2002]

You're a wise man! My wife helps me the same way! What a blessing!

[@wolverine1694]

I love your honesty and faith...we all need to be fair... God bless you brother

[@sarahcope1280]

I found you a few days ago. I think you are the best! Thank you for all your advice! I want so much to start working with wood.... but it’s a little scary. You give me more and more courage every time I watch. You being a Christian and proud of it is awesome. The world needs more people like you! Plus with “good ole boy” prices ,which is how I always sold anything for, is truly because I don’t have confidence in myself....again thank you! I love your channel!!❤️❤️

[@731Woodworks]

Thank you

[@bolancaster8926]

Dude, great info, that's very generous of you to share. As a southerner, I've never heard it called a two by four before. Always "tuba four".

[@bolancaster8926]

Also, nice power tip from the best source!

[@731Woodworks]

thanks!

[@DerisedEgami]

Great video! I'm struggling with the price concept, currently... but I was already along the lines of "I'm learning, and will eventually be more efficient and confident in the wood-shop." Just spent 32 hours on a small wine-rack cabinet extension... between measuring, discussing, designing the concept, building and installing. My desired per-hour would be a brutal blow, to them... so I'm basically reducing my rate to about $12.50/hr. Sucks, but great experience and let's face it, I love woodworking.

[@stevedockery3534]

Hey Matt, just watched your video on pricing and really appreciate the fact of being honest. I've been in the same situation, but now after watching, I feel a bit better. My wife tells me that I'm a perfectnet and charge to little for the work I may sale. Very good advice, thanks, Steve

[@731Woodworks]

Thank you

[@rickyfromzimbabwe]

This is amazing. My wife and I use the same pricing method as you. I've tried the cost plus and it didn't work. Unfortunately $50 an hour in Zimbabwe is not possible! I work on $2!!! But the point of selling a product at a price that is fair for all is great advice. Thank you.

[@sleuthycompass6027]

Hey man...best video to date. I really appreciate the honesty and above all the fairness attitude to your customer and yourself. Typically I under sell myself....so much. Having to restart my life for the 3rd time due to the economic downfall here in Western Canada....you got me back into woodworking after 20 years. I made a coffee table for a customer....and I liked it so much....I kept it. So glad I found your channel to get inspired and educated on all the how to's processes. Thanks again for your videos.

[@731Woodworks]

You’re welcome. Thanks for the kind words. Glad the videos have helped

[@sleuthycompass6027]

@@731Woodworks Sent a quick response to this vid on your FB with a question of fair pricing on a project that was done for your review. Also...quick question here....do you charge for delivery if the project is large and local?

[@731Woodworks]

No delivery charge locally

[@wsapp9823]

Matt, I would volunteer my time to assist you in any build just to gain the knowledge and build my own skill. Knowledge is power and fairness is almost unheard of these days. Thanks!

[@jonhaynie1987]

Love the power tip and that shirt! Proverbs is my go-to book for all of life's power tips!

[@731Woodworks]

My favorite book of the Bibile!

[@crelk19]

@@731Woodworks where do you get your shirts?? Love them!

[@731Woodworks]

Kerusso.com and shieldsofstrength.com

[@theneedlessmage6826]

Thank you so much for this video! Your philosophy of trying to be fair to both you and your customer is so refreshing. There's a pervasive notion that you should charge as much as ou can get away with so it's lovel to hear your approach. That said, I don't think there's anything wrong with you making a bigger margin on certain regular sellers like the stove covers - it helps to balance out the times when you take on brand new projects that take ages and earn you next to nothing. Essentially they fund your development as a woodworker!

[@TheNachoDaddy]

I really like this latest series of videos where you describe the in’s and out’s of a woodworking business. I am working on starting my own shop and this info is golden!! Keep up the great work!

[@731Woodworks]

thank you

[@AngieWilliamsDesigns]

This is great. I struggle with pricing. I never wanted to start a woodworking business. I wanted to make things. And as I started making things... I wanted more tools. And more stuff. Then I started selling things to get those things. Now I'm in a position where I can peruse this as my only job. My husband says I don't charge enough. And we are trying to find what works. This was helpful. And I love that you share scripture.

[@731Woodworks]

Glad it helped

[@martinvanrooyen6627]

Hi Matt.Martin here from south africe.i recently started my own little business.making resin art and doing woodwork items from bedside tables to knife holding woden blocks for my sons knife making business.thank you so much for the advise tips and how too.ik not a pro but love challenges.thanx for you videos.i will follow it religiously

[@731Woodworks]

Thank you

[@jasoncamilleri8322]

I too believe that you shouldn't price any job as if you were going to retire from it. The joy that comes from ownership of creation is sorely underrated. Honesty and integrity certainly lead the way but life is even more fulfilling when you can make an honest living doing something that you love. Thank you for continually posting inspirational content.

[@731Woodworks]

Thank you

[@Loiczzr]

About 15 years ago, i bought a small jet lathe and decided to turn pens. My first costumer was/is a friend of mine, he is a sales rep and every xmas he would get gifts for his best customers. When he saw the few pens i had made, he ordered 50 of them to use as xmas gifts for his customers, i charged him $35 per pen (compared to what could be found elsewhere it was cheap) it took me a couple months to fill that order and i also gave him wooden box to go with each pen. Made enough $ to cover all materials (blank, glue, drill bit, all different sand paper, wax etc..) and also paid for the lathe. I was happy ! Made some more for friends and family, then didnt have the time to pursue it. Last week a friend of mine texted me cuz he need 7 pens for next months so I'm going to have to dust off my lathe again...lol

[@731Woodworks]

lol that’s great

[@metalmorphosis]

Love the logical approach. Being fair is so important.

[@adammoore9186]

Love this channel great information and not scared to share information and how to do stuff knows there is plenty of work to go around for everyone keep up the good work

[@731Woodworks]

Thank you

[@TheNachoDaddy]

Agreed!

[@alessandrofaxelhas6628]

Thank you for all these advice videos, I've been doing business since a kid but selling my wood work has proven to be abit harder for me. These videos are helping me alot. 👌

[@731Woodworks]

you're welcome

[@DahBiggKahuna]

Hey man thank you and keep up the good job. Your videos are are so honest and upfront and you sound like a down to earth guy. An idea for a future video would be to do a Q&A video where fans and subscribers ask you the questions. You’re awesome!

[@731Woodworks]

I love that idea. I will do that in the near future, Lord willing.

[@rogerr1296]

I like the approach of just being honest with yourself as much as anyone. I have the problem of giving too much sometimes and end up on the losing end (my wife says I let people take advantage of me..lol). I've made a lot but haven't really sold a whole lot out of my shop yet but hope to start. Just don't want to lose the joy I find in woodworking by taking on too much. Also, do you dabble in any hardwood projects? That's what I have been doing but it is much more costly than box store dimensional lumber and I'd bet it's harder to find people willing to spend that much more for high end stuff. Thanks for another great video.

[@731Woodworks]

I've done a few small hardwood projects. I got a video of a small one coming up soon.

[@TheNachoDaddy]

Don’t underestimate the “payment” you get from enjoying your work. Yes, you’ll want to turn a profit, but I’ve seen others become miserable when turning a hobby into a JOB.

[@cobusbrits2]

@@TheNachoDaddy Youre right on the button. I was/am a metalshaper and the fassination of shaping metal, say, into a sportscar body, soon turned into a nightmare. You became a slave very quick.

[@TheNachoDaddy]

@@cobusbrits2 I have a buddy that loved to scuba dive, so he went out and got his divemaster/instructor certifications. He got burned out and now rarely dives, even for fun. I really enjoy woodworking, and I'm excited about selling some of my projects, but not sure I want to turn this into my day-job just yet.

[@MaydaysCustomWoodworks]

Background- I'm a full time woodworker and I've been selling my wood works for 10 years, and woodworked as a hobby for 5 years before that. 1. I'm also a follower of Christ. I appreciate your proclamation of faith. 2. When people want to sell their woodworks full time I always recommend they start off part time. And have another job. I think your pricing model is spot on for a part time woodworker, and it's basically how I started pricing as well. 3. As a full time woodworker some times the prices of things go way up and the builds get very complicated. Some of them take multiple months to complete and have so many parts... So eventually I think a pricing system is necessary to stay organized on these big jobs. Also, a pricing system just helps to keep your pay check more consistent when it's your only income. Here in California I have a shop rate of $80 an hour and I very rarely have anyone flinch when I tell them that and they see my work. I bid the job by "if things were to go 90% perfect it would take me X amount of time to complete that, plus materials" sometimes I even call a few pro woodworker friends and ask them to bid it as well so I can see what they would charge. If I come to the client with my bid and tell them "I ran this by 2 of my pro woodworker friends and asked them how much they would charge. One said $10k, the other said $12,500. I'm personally right in the middle at $11,000." Most people find that comforting to know they aren't getting ripped off and other people would also be willing to charge/pay that rate. In my area of the California valley it's common to go to the auto repair shop and see a shop rate of $100 an hour to $120 an hour. My woodworking mentor charges about $110 an hour. But he is an older man nearing retirement age with lots of experience. $80 an hour is a lot of money, but I didn't start out at $80 an hour. I started at about $20 an hour when I was 19 years old. Then slowly raised my prices as my speed and quality improved over the last 10 years. From here on out I'm not expecting to raise my prices any more... I am only planning on just improving my speed and capacity and holding my pricing steady. So technically my hourly rate will increase as my speed increased and my time to complete a job decreases. And also with employees or "team building" through independent contractors my pricing stays steady but production increases and I can make a profit on the independent contractors or employees. Like my painter. He charges me $60 an hour but I still have to be responsible for the product and take the risk, so I charge the client $80 as if I were doing it myself. If an employee costs me $30 an hour total, my pricing remains steady at $80 an hour for a shop rate. Eventually you get into a rhythm with your clients where they kinda know what to expect with your prices and as long as that doesn't drastically change per hour then you shouldn't get much blow back. 4. I recommend newer semi pro woodworkers to start out at $20 an hour if everything were to go "90% perfect" and then plan on giving yourself a $5 an hour shop rate raise per year that you stay consistent. Then eventually stop raising your prices, but increase your flow of business

[@cobusbrits2]

Great breakdown of how to price, a big thank you!

[@731Woodworks]

Thank you

[@731Woodworks]

Thank you for sharing your wisdom. i really appreciate that.

[@MaydaysCustomWoodworks]

No problem guys. Thanks for the feedback!

[@sethjohnson940]

I am at the point where I can't keep up with the woodworking and my full-time job. I really want to take the plunge but I'm very nervous and scared what do you suggest.

[@Dustinplays4keeps]

I really appreciate your channel. I have done some woodworking for our own purposes and will be setting up a shop after my wedding this month. I love your presentation and the breakdowns of your business and methods. I watch a variety of woodworking channels and learn things from each, but it is sometimes hard to connect with the guys who have 25 different machines and huge shops and such. I like your channel talking about the process of setting up your own small business.

[@731Woodworks]

thank you.

[@upstatecre8]

Thank you for that common sense approach and I always appreciate a creator that has a scripture mindset.

[@Tattooie_007]

Man, I have been watching you for a bit, now. I love the way you think and sell. Your methods are great. Look forward to more info from your channel.

[@frankfavorito2280]

Loved your info and tips. My wife is the business manager. She, like a lot of women just has a more analytical point of view, and she's way better at the math. Keep on with you what you're doing. You're an inspiration to keep making sawdust.

[@dadderall4213]

Yet another great video Matt! Between you and Steve Ramsey, I've learned more about woodworking than I could've anywhere else! Thank you!!!!

[@731Woodworks]

Wow. Being in the same sentence as Mr. Ramsey is an honor for sure

[@dadderall4213]

@@731Woodworks you guys are the only two that show where you mess up. When you did the dresser for your daughter's room, you highlighted little imperfections that other "channels" wouldn't bring up. You make it seem like anyone can do this with realistic results. Keep creating and being yourself brother! Cheers

[@RonniesWorkshop]

Thanks for the tips, brother. One thing I do as well is to check out similar items on Facebook Marketplace (where I sell) to see what other makers are charging. I've found, going back to your selling tips, that great photos allow you to charge a bit more. If customers see a well staged, nicely lighted, and good looking product vs. someone who took a dim picture in their shop, they will be more excited about yours.

[@731Woodworks]

I do the same thing myself

[@godsavesclams]

I have been following for a minute, and I can tell you've put a lot of work into editing/production value since the earlier videos and it shows. Keep up the good work boss.

[@731Woodworks]

Thanks. Always trying to improve

[@mazukamba2573]

I feel so much better now. I want to be fair but I add something else, I like to feel good about the price, like it was worth my time. I like what you said about charging less for a first time project because you earn experience, I never looked at it that way. Thank you.

[@GongaDuck]

I've been a subscriber for a bit, and have enjoyed the videos I've watched so far. This video is by far your best, and I really loved the interaction between you and your wife. The conversation was so real and didn't feel staged at all. It felt just like how my wife and I talk to each other. It's a great partnership, that's for sure. Also, once I recover from my having treatment for cancer (I'm currently in remission YAY), I'm looking forward to getting back out to my shop and making some of the projects that I've seen you build. Great channel, and not sure why I didn't discover you sooner, but glad to be a subscriber now.

[@731Woodworks]

Welcome aboard and thanks for the kind words. I’ll be praying for continued remission for you!

[@philplummer5216]

I wish there were more people out there with your values!

[@williamchase6298]

"Be good to people" best advice

[@shanechristensen4689]

Thank you for sharing business secrets that people generally just don't share. I love your work. You have inspired me to move into this as a business and away from my full-time employment. Oh, I love your t-shirt, I have seen in another video an Isaiah 6:8 t-shirt. God bless

[@731Woodworks]

Thank you. Good luck in your business venture.

[@JohnGenX69]

You just keep getting it right! No matter what the subject you just seem to be able to do it well and do great things by sharing what has worked for you. Thank you so much for all you do in helping others. Matthew 5: 14-16

[@731Woodworks]

I appreciate that!

[@richardfowler3254]

I just "tinker" as a hobby but I am starting to make a couple of your products/ projects for my house. I have found that going to a real lumber supplier and not a "Big Box" store is the wat to go. Yesterday I bought the nicest looking Baltic Birch Plywood 5x5 sheets I have ever seen, this will really cut down on my sanding time just starting with nicer materials...

[@731Woodworks]

For sure. I'm thinking about doing a video on where to purchase lumber and supplies.

[@alisonderrick1067]

I really appreciate these videos. You are amazing. Your information is priceless! I’m a classical musician, and as a freelancer, I absolutely have encountered and continue to encounter these exact same points you are speaking to. You are building up the music community just as you are building the entire carpentry community. Very informative and extremely helpful. Thank You 🙏 ever so much. You help to carve out so much understanding. Keep whittling away. Absolutely brilliant. God bless you.

[@mrmyblessednest1722]

Hey Matt great info here!! Pricing something and being fair to myself has always taken a back seat to being far to the customers! I see after watching this video that I need to balance that and do both! Thank you!! And love the Proverbs scripture too!! Have a great day brother!!

[@731Woodworks]

Thank you. Glad it helped

[@dennismutz8221]

Love advice like this, and I will take most of it into consideration. However, your not the only one to cover general woodworking products. I do a lot of fretwork items. Some of these came take 6 hours or more to complete. I use the "ask my financial advisor" method too. I also use" how much would I pay for it?".

[@pauljr1965]

Oh man, this video hit home so hard. That's exactly how I price, the only difference is that I bring God into when I price. Several times I have under priced, then gotten a bonus when they saw it. Tell that ain't God. Man I'm loving your videos keep them coming.

[@731Woodworks]

That’s awesome 👏

[@makermark67]

Another great video. Honesty, fair, integrity....hard to find in any business these days. If everyone had these standards, the world would be a better place. Oh, and nice shirt. Thanks for all you do, keep it up!!

[@731Woodworks]

Thank you!

[@bernarddouthit4647]

Matt, you are a good man. I am a Resume Writer and Career Coach and I have gotten to the point that when the first thing people ask me is what I charge, I usually say goodbye in a polite way. One question - is that a propane heater in your garage? Do you use it indoors? Thanks for all the great videos and Merry Christmas.

[@ghill1010]

Always listen to the wife!!! Good job buddy!!! Thanks for all you do. Enjoying it. I’m about ready to get it started on my end.

[@731Woodworks]

Go for it!

[@JkCanvas]

Awesome advice and well worth the 10:49 of my time.

[@trojanman22]

Really glad to see audio and video quality of your videos increasing!! Keep up the good work

[@731Woodworks]

Thanks! It's a work in progress! New mic should be here tomorrow and a new camera Thursday.

[@shauncail4136]

Awesome content as always. You hit the nail on the head. My wife is also the voice of reason and gives me a fair price to charge my projects. My prices using stand formulas make a small project way too expensive .

[@731Woodworks]

Thank you

[@rusticcharmwoodshop]

Before I tell you how awesome your video is, I must say that you and your wife are so adorable. Fantastic video Matt. I couldn't agree more about being fair and honest. Definitely the way to go. Cheers

[@731Woodworks]

Thank you. She’s amazing for sure!

[@dcampbell855]

Great pricing video! It's so refreshing to actually hear someone say "just be fair" when it comes to pricing, or in anything for that matter. I see ads all the time where prices are severely slashed on a product and I think "why was the price so high to start?"...and it makes me not trust the seller. (Car dealerships come to mind)

[@731Woodworks]

Thank you. Car shopping is the worst lol.

[@JuanHerrera-kg2tm]

Good evening Matt. As a new subscriber to your channel I really enjoy the outstanding small business advice. I faced this when I started to sell. How not to put myself out of business before I start my business. You may recall on my last comment that I get free lumber from two local irrigation companies. My back yard looks like Home Depot. I spend countless hours surfing the Web looking for ideas, but also looking for prices. I discovered two things. Most items are over priced and are made of engineer wood or veneer. Your subscribers need to look for that. So when a potential customer sends me a photo of an item the odds are I now the market price and what's its made of. I always point that out to the potential customer. Engineer wood and veneer can't be compared to real wood. I'm yet to make a project the same size that is on the photo. Because I get free lumber, I sell my items 20% less from market price. My profit is good and the customer gets a great price for something that is custom made. The only items I don't give a discount are metal work or wood with metal. That's a whole different beast. Once again, thanks for the great advice.

[@731Woodworks]

Thanks for sharing that.

[@shanethompson4865]

Matt, I love your "no formula" calculation. I have struggled over this "formula" many many times. Ironically, I have come to the exact conclusion you have. Just be fair, try to make some money and think to myself, If I was buying this what would I pay for it? I do woodworking and repair fences. My passion is woodworking but fence repair sort of fell in my lap. I never have a set formula to decide on what I will charge for a fence repair. I just try to be fair and make money! Thanks again for the sound, solid, Godly advice. I love your channel!!

[@731Woodworks]

Thank you

[@websterbehrens7837]

Thanks for sharing a very honest evaluation. Keep doing what your doing as I enjoy every one of your videos. I learn something from every video and I appreciate the knowledge that I have gained from you.

[@731Woodworks]

I appreciate the kind words!

[@ralph9768]

great video and i was curious about this exact topic after watching your other videos. Thanks for the transparency and it's nice to see the fair and honest approach to yourself and customers.

[@731Woodworks]

Thank you