Woodworking Business Plan Template [Updated 2023]

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I. Executive Summary

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company Name], located in [insert location here], is a woodworking company that focuses on providing beautifully carved wooden decoration pieces and sculptures, wooden chests, small wood furniture and wooden toys to its customers in the surrounding community. The Company’s goal is to become one of the leading wood production brands and compete with the leaders in the industry not only in the United States but also on the global stage in the near future.

Products Served

[Company Name] will provide high-quality woodworking products for its clients, which include:

  • Beautifully carved wooden decoration pieces and sculptures
  • Wooden chests
  • Small wooden furniture
  • Wooden toys

Customer Focus

[Company Name] will primarily serve the residents within a 10-mile radius of the shop location. The demographics of these customers are:

  • 42,450 residents
  • Average income of $85,000
  • 51% in Mgt./Professional occupations
  • Median age: 35 years

Management Team

[Company Name] is led by [Founder’s name], who has been in the woodworking industry for [x] years. [Founder] is a certified and licensed designer. He has extensive experience in the arts and crafts industry, working for leading brands prior to starting his own woodworking company. He will have the help and support of his business partner, [Insert Name], who will handle the marketing and admin tasks for the company.

Success Factors

[Company Name] is qualified to succeed due to the following reasons:

  • There has been significant growth in the woodworking industry over the past few years. In addition, the company surveyed the local population and received highly positive feedback pointing towards an explicit demand for the products, supporting the business after launch.
  • The management team has a track record of success in the woodworking business.
  • The Company will use high-quality and exceptional woodworking materials which are environmentally friendly.
  • Woodworking companies are a proven, successful business in the United States.

Financial Highlights

[Company Name] is currently seeking $200,000 to launch its woodworking shop. Specifically, these funds will be used as follows:

  • Build-out and Startup costs: $150,000
  • Working capital: $50,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

Year 1Year 2Year 3Year 4Year 5
Revenue$200,000 $300,000 $400,000 $500,000 $600,000
Total Expenses$176,390 $230,030 $250,431 $261,901 $273,920
EBITDA$23,610 $69,970 $149,569 $238,099 $326,080
EBIT$23,610 $69,970 $149,569 $238,099 $326,080
PreTax Income$23,610 $69,970 $149,569 $238,099 $326,080
Income Tax Expense$13,344 $19,409 $52,349 $83,334 $114,128
Net Income/Surplus$10,266 $50,561 $97,220 $154,764 $211,952

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