5. Woodworking manufacturing
Are you good with your hands? Do you enjoy building or carving pieces out of wood? A woodworking business will offer you the opportunity to open a home-based manufacturing business idea with low start-up capital. You can start working weekends out of your garage until business takes off and you can do a career you love full-time.
How to start this business idea
First, you’ll need to understand the market you’re opening your business in, once you know what the market is looking for you can focus on the right product and create a niche for yourself.
Depending on the product you may need to invest in some machinery for woodworking, these you can buy second-hand or rent until you need it full-time.
How to keep this business idea successful
Establish your business as an expert in a niche area of customised woodwork, then once your business is sustainable, you can either offer a bigger range of your niche area or expand into other areas of woodwork. Keep in mind to always ensure there is a market for whatever you expand into and that you aren’t wasting resources on new products that won’t sell.