So you want to start an engraving business

[SHADOW042]

I relize as I look at this cnc site many of us that checking it, have the dream of Starting a small business and are chasing info for such
I thought I might take you through my dreams of starting one over the next 6 months and explain what I do and the bumps in the road I find on the way

I’m sorry if this get a little long winded in the beginning but there is a bit to tell

To start

I don’t say what people should do or what equipment to buy as I don’t have any affiliation with any company and any comment I make are my own opinion and should be taken as such. It is my hope this helps people start there own and helps them avoid many of the bumps I run into
If people feel they need to make a comment please do as I would not take anything personal and are happy to answer any question I can

Ok a little history

I started this business once already about 10 years ago and borrowed 35,000 on a personal loan at 700 a month repayments and bought myself an old e300 newinghall diamond cnc (no laser then) engraver. My dream was to make fantasy artwork on mirrors such as dragon wizards etc.... The software back then couldn’t do what it does now and I had to draw everything and I found myself spending many hours just sorting out drawings and having to draw every line in each picture. I spent 6 months working night shift and sitting in front of a computer during the day.

Now your wondering why I mention this

I found that my dream was bigger then my reality and I aimed rather high as such and I missed a lot of smaller work that I could have done i.e.. necklaces,crystal,specialized trophy etc..but a dream can be a dangerous thing and I believed all I wanted to do was the best pics and nothing else(people can be blind), it took me about 6 months to relize that I needed to start having income roll in, as bills started to get a little tough to keep up
with.So I started doing convention trophy as many had liked my work and they could have there own theme for there trophys
Now comes the bad news after doing a few of these I found I was starting to catch up Just to find myself coming home one night with a mate that was helping me get off the ground and we stopped to relax and get something to eat, to come back out 1 hour later to no car no gear no nothing (man was I spewing) Unfortunately as many know when u start a business money was tight and no insurance on either machine or car

So there went my dream and it took all this time to start all over again so here’s hoping 2nd time lucky

Ok my thoughts and things I did right and wrong

1. One thing I did right was when I looked at my repayments I made sure I could afford them even if the business didn’t work so you can always get out of that hole over time, unfortanately no cheap chinese back then it was all expensive. So look at what you can start on the budget you have now and try not to over extend with internet you can build slowly with not alot of outlay
2. Dont let your dreams rule as they can be your worst enemy as I know, keep them as a target but look at how they can be used in different situations as it is amazing on how it can be used so many different ways to make money and your initial idea may be wonderful to you but not always to others
3.Look at what you can do before you borrow or buy. Much of the stuff now can be simulated or artwork sorted first and try to hit the ground with a customer base nearly ready if not already started, but work on not just relying on them alone as well
4.Back up everything and try to make a plan if things breakdown or go missing so you can keep moving forward with that dream

Ok Ill continue next week with what I have sorted out now and how I will approach how to start again on my new venture

I hope this helps someone

Shadow

[mc-motorsports]

Do what you love and do it better than anyone else, the money will follow. And before you quit your day job, realize that the benfits package that comes with self employment SUCKS! LOL! Group health insurance, retirement plans and matched retirement investments go out the window, no more paid vacation or "oops, I made a mistake, oh well I get paid by the hour", but if you have the dicipline and motivation, the freedom and self graditude is wonderful. Just my 2 cents.

[SHADOW042]

Yes I agree with you on all the points you have mentioned mc
I dont go into this blindly and others shouldn't either, with any venture there is risk and possible rewards.The idea is to reduce those risks as much as possible. If you dont need to give up your day job dont, do your bis on the weekend this way you will always have money coming in at least.
Now for the benifits package he's right you do lose many things if you give up your day job and people must be aware of this as this can make or break people as money is the number one bis killer if you dont have backing then you shouldn't be aiming beyond your reach until your ready too. Nothing wrong with starting small and letting it grow. It all comes down to planning

Now me personally im doing it hard and having to build on the cheap side
But cheap doesn't mean low quality

But you are right I dont want this to sound like its easy
It takes commitment and hard work and a lot of time chasing work
But I also do it for the possibility of some good financal rewards and will keep my job as well, work weekends and build it slowly with a internet sales point

many thanks for your input mc

Shadow

[mc-motorsports]

Those are very good points, and to minimize the risk, I sacrificed a lot in the way of moon-lighting for 2 years working unreal hours and pretty much every weekend. And it did pay off and when I left my day job I was pretty much making the same on my own with my own business. And I continued to sacrifice and work the long hours and long days and 7 days a week as long as my physical and metal health would let me and today I am rewarded with a job paying more than double what I was grossing at my last day job with the hours I want, the work I want, and the freedom that I longed for.

It takes a certain kind of person to start from nothing in our trade. I guess our best bet would be get a collage degree and present a bank with a business plan and apply for a start up loan or seek investors. I guess some of us choose to do things the hard way and although my advice is keep your day job, if you've put in the effort and made the sacrifices and make it on your own, contragulations! You deserve much respect! (secret is do it BEFORE you start a family! This will ruin relationships.)
MC

[SHADOW042]

Amen to the family comment its much easier

I'm gonna do it the same way you did mc
Work during the week and make bis on the weekends
I dont expect to get a loan and will save for my equipment as it doesn't cost what it did first time around and shouldn't take me to long (10% of the first time round love the chinese laser prices)

Shadow