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Forum topic by Knot_in_my_wood posted 04-14-2017 09:22 PM 2781 views 0 times favorited 22 replies Add to Favorites Watch
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Knot_in_my_wood

14 posts in 2069 days


04-14-2017 09:22 PM

I have been doing some research and I have found some on the west coast, but nothing local to the Washington Metropolitan area. I’m sure, even if I get people to sign waivers and take a safety class, that insurance would be pretty expensive!

The existing “pay-as-you-go” woodshops are offering monthly rates, weekly rates, hourly rates, mentorship rates, storage rates, safety class rates and flat fees for certain projects that include all of the wood, tools and shop time required to complete it.

I’m wondering what peoples’ opinions are. It seems like a great idea, but I have my doubts and concerns about what some of the pitfalls could be. Regardless of how much preparation and planning go into something, there’s always things that happen out of your control. My biggest fear is that someone will end up hurting themselves.

Thanks in advance and happy woodworking!,

Mike


22 replies so far

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Rrrandy

212 posts in 902 days


#1 posted 04-14-2017 09:32 PM

Mike, as you say, someone WILL end up hurting themselves. Then the price of your liability will go up and correspondingly your rate price structure. There’s a reason there are not a lot of those shops around. The lawyers will get you…

-- Y'all need to locate a sense of humor. Borrow one if you can't find yours...

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patcollins

1687 posts in 3288 days


#2 posted 04-14-2017 09:52 PM

Overhead costs will most likely eat you alive.

The membership type ones lock someone in and have a much better idea of their cash flow month to month.

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SteveMI

1137 posts in 3717 days


#3 posted 04-14-2017 09:52 PM

Check out http://www.techshop.ws/arlington.html Techshop in Arlington (Crystal City). I belong to the one in Michigan and these places have a huge investment in tools and equipment. Tours are free, so just take one.

View HokieKen's profile

HokieKen

9979 posts in 1561 days


#4 posted 04-15-2017 01:14 AM

There’s also the Fredericksburg Workshop in Fredericksburg. Great place to buy exotics in addition to being a community shop.

-- Kenny, SW VA, Go Hokies!!!

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Matt

160 posts in 1374 days


#5 posted 04-15-2017 02:41 AM

Woodworkersclub.com – Rockville, MD.

Its a woodcraft franchise ($$$) but the people there are great and there is a great assortment of tools in their shop. I enjoy wandering around and rarely leave with out buying something, I’m not however a club member, I’ve got my own play area. :)

-- My "projects" always look better when your glasses are broken.

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papadan

3584 posts in 3791 days


#6 posted 04-15-2017 03:21 AM

You could look into temporary insurance like at the air port. Buy a policy for the day.

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Knot_in_my_wood

14 posts in 2069 days


#7 posted 04-15-2017 12:21 PM



Mike, as you say, someone WILL end up hurting themselves. Then the price of your liability will go up and correspondingly your rate price structure. There s a reason there are not a lot of those shops around. The lawyers will get you…

- Rrrandy

Randy,

I may just do a private club. It will limit my liability, but also the possibility to make a lot more money.
Money the lawyers can’t get! Hahaha.

Regards,

Mike

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Knot_in_my_wood

14 posts in 2069 days


#8 posted 04-15-2017 12:25 PM



Overhead costs will most likely eat you alive.

The membership type ones lock someone in and have a much better idea of their cash flow month to month.

- patcollins

Pat,

I totally agree. I have my sights set on a 1,500 square foot freestanding garage for $500. It should be fairly easy to get a few people together to cover the rent, electricity and tools.

Regards,

Mike

View Knot_in_my_wood's profile

Knot_in_my_wood

14 posts in 2069 days


#9 posted 04-15-2017 12:27 PM



Check out http://www.techshop.ws/arlington.html Techshop in Arlington (Crystal City). I belong to the one in Michigan and these places have a huge investment in tools and equipment. Tours are free, so just take one.

- SteveMI

Steve,

Thanks!, I work in DC, so I can check this out on my way home some night in the near future!

Regards,

Mike

View Knot_in_my_wood's profile

Knot_in_my_wood

14 posts in 2069 days


#10 posted 04-15-2017 12:28 PM



There s also the Fredericksburg Workshop in Fredericksburg. Great place to buy exotics in addition to being a community shop.

- HokieKen

Kenny,

Thanks!, I’ll check them out!

Regards,

Mike

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Knot_in_my_wood

14 posts in 2069 days


#11 posted 04-15-2017 12:31 PM



Woodworkersclub.com – Rockville, MD.

Its a woodcraft franchise ($$$) but the people there are great and there is a great assortment of tools in their shop. I enjoy wandering around and rarely leave with out buying something, I m not however a club member, I ve got my own play area. :)

Matt,

Thanks!, I’ll check them out. I outgrew my play area 20 + years ago. It’s time for me to do something else with my life. I can’t stand my day job! Teeheehee, but who can?

Regards,

Mike

- Matt


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Knot_in_my_wood

14 posts in 2069 days


#12 posted 04-15-2017 12:33 PM



You could look into temporary insurance like at the air port. Buy a policy for the day.

- papadan

Dan,

Thanks!,

I’ll look into that to see how or if it can work for what I’m trying to do. I like your profile quote!

Regards,

Mike

View builtinbkyn's profile

builtinbkyn

2939 posts in 1363 days


#13 posted 04-15-2017 01:31 PM

Looks like the DC area has 6 Makerspace locations. Link Now they’re not dedicated to woodworking, but they do provide it.

Here in Brooklyn, guys rent larger spaces than they need and sublet to others. They provide some bench space and the use of the machines. Some commercial shops have been doing it too. Rents have really increased the last ten years, so I guess this approach helps to pay the bills and keeps them afloat.

-- Bill, Yo!......in Brooklyn & Steel City :)

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000

2859 posts in 1322 days


#14 posted 04-15-2017 01:44 PM

Here is one in my town you can check out.
http://communitytoolchest.com/

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a1Jim

117655 posts in 4000 days


#15 posted 04-15-2017 01:59 PM

In my area, it’s limited to one source for liability insurance with very high cost, another consideration is getting the power up to speed for all of the equipment you will need easily $4,000 -$10,000. If you haven’t considered it already you might check the zoning to me sure the building falls withing the correct zoning.
I feel it would take some time for a business like this to even break even near enough make a profit so you will need a lot of liquid reserves. Having been in different businesses over the last 50 years I think a person has to examine why the want to go into any particular business, is it because you like that type of work or is it the most profitable business you can go into given you finances and skill base? If the answer is no, you may want to rethink your idea.
Of course, if you have such financial resources you would like this as a hobby business then that’s a whole different story.

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