In my Wood Profits Review, I’ve covered, in detail, this woodworking business ebook created by Jim Morgan. He makes some impressive claims about his success as a woodworking business owner and operator, such as making over $100,000 per year. He also claims you can make anywhere from $90,000 to $150,000 per year following his methods.
There are a lot of details on his sales page, a lot of hype I would say. It seems like an impressive product, but you can’t always trust these sales pages.
I’ve purchased the ebook (along with a few upsells), and I’ve combed through it to see if it holds up to what the sales page explains. Below is my honest review of this product in its entirety, plus of the free bonus and the upsells that I did purchase.
Disclaimer – If you purchase this product through one of my links on this page, you’ll be getting the same product and paying the same price, but I will be getting a percentage of that sale. My review of the product is honest and sincere, I would not vouch for or promote this if I didn’t buy it myself and believe it’s worth the price.
MY OFFER TO YOU – If you buy “Wood Profits” through one of my links, I will offer you my premium package of wood shop jigs woodworking plans – Wood Shop Essentials – at 50% off. Just email me your transaction ID for Wood Profits, and I’ll send you the discount promo code for Wood Shop Essentials.
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Let’s jump right in
First off I’d like to share with you the overall structure of the book:
PDF format, 242 pages long
You will get an option to purchase a physical copy and MP3 audio files
Includes a bonus chapter on Etsy (if you don’t know, Etsy is a craft-selling website)
Questions and Tips before starting your business
Business plan
How much can you make
Turning your garage into a wood shop
How to find different types of specialized niches to get into
Understanding your costs and how to control them
Identifying your target market
How to find customers
Top 10 best selling crafts
Beginner guide to selling on Etsy
How to dominate on Etsy and get 5 star reviews
How to sell in your local community
How to price your work
Using woodworking plans to build faster
How to build relationships with material suppliers
Creating your own sales channel
Negotiating commercial contracts
Outsourcing
Accounting and bookkeeping tips
Deeper research on using and profiting on Etsy
Wood Profits Overall Sales Process
Note on ClickBank – Wood Profits’ purchasing and product delivery is all handled with a 3rd party company called ClickBank. This is the biggest digital product management company online today, and they have a great track record of security and customer support. I have no problem vouching for ClickBank and I feel entirely secure purchasing products through their online platform.
Main product
Wood Profits Ebook
Free bonus of 500+ woodworking plans
Total is $37
Add-on at checkout
You can choose to add a Business-Plan template for $7.95
Upsell 1 – VIP Upgrade Package
150 premium furniture and hobby craft plans
Over 1,000 business documents, forms, and legal contracts for download
The ultimate woodworking resource and reference collection (125 pdf articles and guides)
Lifetime one-on-one coaching with Jim Morgan
One time discounted-price of $29.95
Upsell 2 – Woodprofits Accelerator
Ebook – Traditional Furniture – 120 pages of illustrated technique-guides, plus a bunch more woodworking plans.
Ebook – Guide To Wood Joinery – 156 pages, illustrated guides with 13 chapters and a miscellaneous section
Ebook – Wood Finishing – 141 pages of techniques, finish types (when and why), filling, etc…
3 additional ebooks on cutting energy costs in your home (irrelevent but handy for a homeowner)
One time discounted-price of $39
Upsell 3 – Woodworking magazines for download
Years and years worth of published magazines
All scanned and downloaded digitally
Example – Woodworkers Magazine
$49
I purchased the add-on at checkout, then I purchased upsells 1 and 2. Upsell 3 is self-explanatory and you’ll see some examples when it’s promoted, so you’ll have a good idea of what you’ll be getting.
I review each of the upsells at the bottom of this page, so you can decide if it’s worth it before you get to the “One Time Offer” pages. And be aware, you can buy these upsells later on, but they really do go up in price after the initial offer during your initial checkout.
Wood Profits Review
Getting Started
The first chapter alone is 20 pages of some really solid business and marketing ideas. It’s kind of a quick summary of everything you will want to consider and figure out while setting up your operation.
From pricing to market research, sourcing material to saving money, finding a niche to specializing and choosing wood species, marketing to hiring skilled labor, working as a hobbyist vs as a professional, and a few more topics as well.
You’ll also find a great list of 7 characteristics of what your crafts should have. These are the 7 common traits found with highly successful wood products.
The following chapters go into much more depth on these topics.
Business Plan
Jim goes into pretty good depth on why we need a business plan. There are things here that definitely opened my eyes, as I honestly wouldn’t have thought about doing one unless I was trying to borrow money from the bank. Apparently, there are several good reasons for a business plan and I think he lays out this part really well.
How much can you make
He gets into some good examples here of specific crafts selling at realistic prices, and walks you thru some math to show you what these could potentially make. There’s actually some really inspiring thoughts and examples in this chapter, especially when he shows you an example of a real Etsy shop that’s doing simple projects, and making a fortune.
Setting up your garage wood shop
I didn’t have high expectations for this chapter, but honestly, there is some solid advice in here. I think some of it’s definitely common sense, but a few tips throughout the chapter got me thinking on how I can apply these and improve my own garage wood shop.
Specializing
Jim breaks down the idea of specializing, or finding a niche, in a way that illustrates the benefits of doing so. There are reasons to specialize on the marketing end, but at the same time you’ll see how specializing also creates a smoother and more profitable operation. He lays this all out pretty well.
Then he gets into exploring different types of niches and ideas to specialize in. He really breaks down a handful of different niches that you probably would like to consider getting into, it’s kind of like he’s done some of the preliminary research for you on 12 different niches. By the end, I think you’ll have a good sense of what you need to research and will probably have a few great ideas on what you’ll want to specialize in.
Wood business costs – and how to control them
Nothing mindblowing here, just some decent cost-saving strategies when it comes to purchasing tools and material. Definitely worth reading though. He does include a great list of suggested beginner tools that are worth investing in when setting up your shop.
Later on he gives additional advice on getting even better prices on your lumber, which is a key way to reduce costs as a business owner.
Identifying and Finding customers
The chapter on identifying is not great. A few tips and ideas, some of which I would probably never do. But it’s short, so skim thru it and you may pick up a few ideas worth your time.
The chapter on finding customers is really good. Lot’s of different approaches and tips here, including tips on landing commercial accounts.
Plus, he follows up in a later chapter with more details on negotiating commercial contracts. This is a great business model to consider (selling wholesale to retailers), and he’s got some easy-to-follow advice for this process.
You’ll also find some good advice on handling and dealing with customers. For me this was common sense stuff, but for someone who hasn’t had to deal directly with customers in previous jobs or professions, this is some useful advice.
Later on he gets into more specifics on the various sales channels for you to consider and persue. There’s a whole chapter on it and he covers 9 different sales techniques, and how you can utilize each one individually, or a combination.
10 best selling crafts
Not much to say here, and this is not anything mind-blowing. Jim lays out 10 specific niches, I don’t say 10 specific crafts because each one has a variety of ways you can build it and make it your own. So he’s got 10 niches here that are proven sellers. Use it as a starting point when doing your market research laid out earlier in the book.
Etsy Training
Here’s a section that is worth more than the cost of the entire book, right within 3 chapters. Etsy is an absolute gold mine for any crafting business, and wood crafts specifically absolutely kill it on etsy.
There’s other Etsy training sources online, but this is laid out and specifically geared for woodworkers.
Jim goes thru entirely how to set up your account and build your Etsy store. Everything from getting a professional logo created for cheap, to naming, creating your first listing, and so on.
He lays out marketing and pricing tips using Etsy, and how to research your competitors to get more information on your target customers.
For your Etsy shop, he lays out each step of this process so your listings will stand out and should perform well, right out of the gate.
Jim claims that using his approach, you should be able to sell your first item within a week, many users selling within the first 3 days.
He’s also got a couple methods for boosting your exposure on Etsy and getting more sales.
Beyond the basics, Jim gets into more advanced techniques that will really boost you forward with your Etsy shop. This includes great advice on product image, descriptions, customer management, how to get 5 star ratings, and more.
The ‘deep research’ chapter he throws in at the end is super-inspiring. Jim digs up all kinds of examples and shows proof of just how much success these woodworkers have on Etsy. These are all simple projects, and will give you a TON of ideas.
Again, the Etsy training laid out here is enough to justify the cost of the ebook, and should set you on a track for making a living by using Etsy and its established customer base. Jim claims there are tens of millions of registered shoppers that shop on Etsy all the time for custom crafts. Using his tips to tap into that market just makes sense.
Side note >> I can personally vouch for Etsy providing a steady, full-time income, as I have family who run an Etsy store. They work out of their basement and it is their full-time job, completely supporting a family of 3, and business is always getting better for them. So I know it works.
Selling Locally
Jim threw in this chapter I think just for the sake of being thorough. There’s not much to it, but he’s got some good pointers and ideas for selling locally and just how easy it can be. If you’re live in or near a decent sized city, local selling has some great potential, so it’s worth considerring for many people.
Even if you’re in a smaller town, there are valid reasons to get a start with selling locally, even if, by itself, it would never be enough to sustain your business. Jim lays this out pretty well.
Pricing
There’s not much for me to review here, it’s a technical chapter and any business owner needs to understand how to price their work. I would consider this the ‘homework’ chapter. Learn these business basics to make sure you don’t charge too much or too little on any craft.
Using woodworking plans
This is basically a promotion for buying plans. I agree with what Jim says here, that basically you will save time and money by using plans, as you don’t have near as much scrap wood at the end of the project, and there will be fewer mistakes when following a woodworking plan. But there’s not any “training” here, just some solid arguments for using plans and a link to buy some if you’re interested.
Outsourcing
Another solid advice chapter, but nothing that amazing. This process is one that can really help you grow your business as some point, so having a good understanding of how to do it is worth it for any business person.
Accounting
Business 101 – get your accounting handled. Here’s a chapter that is truly boring, but necessary nonetheless. You need to at least skim thru this once so you have an idea on what accounting best-practices are.
Conclusion of the book
Jim wraps it all up with some additional good advice and tips, kind of an extension of the first chapter.
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