Bankrolling your hobby router

The dry stuff all about starting a business including paperwork, addresses, government agencies, funding, taxes all to help you with your ideas in the world of cnc
Turner
Posts: 11
Joined: Sat May 30, 2015 4:44 am

Bankrolling your hobby router

Postby Turner » Tue Jun 16, 2015 11:44 pm

What are your best ideas for bankrolling your router? Making the money come in may be challenging. I am curious on how people start and grow their business into profits. Thanks.

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Goose
Posts: 35
Joined: Sun Apr 12, 2015 9:31 am

Re: Bankrolling your hobby router

Postby Goose » Sun Jun 21, 2015 8:00 pm

This is mainly a hobby, and is something you do out of fun. If you are adept enough to start using it for making money, then you are lucky. But otherwise, you just build it out of love.

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n1h1l1st
Posts: 28
Joined: Sat Feb 21, 2015 6:03 pm

Re: Bankrolling your hobby router

Postby n1h1l1st » Sun Jul 12, 2015 7:30 pm

Just move or target to a business that outsources and offer to supply the same thig for the same price but with local service and support. That way, you will have no trouble finding the economic backbone to support your business while it takes form in the beginning. you couléd also just find a product that is easy to make and is cheap and flog it on ebay or amazon. every little bit helps.

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PembertonIII
Posts: 25
Joined: Sat Feb 21, 2015 4:44 pm

Re: Bankrolling your hobby router

Postby PembertonIII » Wed Jul 22, 2015 2:21 pm

Try out securing a business partnership with a major consumer if you find it difficult to get money.

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annoyamaz
Posts: 16
Joined: Tue Mar 10, 2015 4:29 pm

Re: Bankrolling your hobby router

Postby annoyamaz » Tue Aug 25, 2015 1:18 pm

I concur with this. If you have a good marketing team, you should be able to strike a good deal with retailers - but you first have to specialize your product - and to do this, you might still have to do some market research. What I would advise in this case is to start small and build it from there. It will take some time but resilience goes a long way in business.

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tomJohns
Posts: 19
Joined: Sun Aug 09, 2015 9:41 pm
Location: Thule, US

Re: Bankrolling your hobby router

Postby tomJohns » Fri Aug 28, 2015 7:38 pm

PembertonIII wrote:Try out securing a business partnership with a major consumer should you find it difficult to get money.


Yup, like a supermarket chain. Get marketers and let them look for a retailer to make your stuff exposed to your customers. For example, if you are making elegant parts for stuff, you can use this opportunity to explore the market and fine tune your offers into prospects.

CNCchamp
Posts: 8
Joined: Fri Oct 16, 2015 6:13 am
Location: st. Johns

Re: Bankrolling your hobby router

Postby CNCchamp » Sun Nov 22, 2015 3:27 am

Nothing good comes easy but if you approach the market with hardwork and determination then you can as well be sure that one day you will make it financially. (add a little patience) CNC is profitable enough to live from. Just get started and don't allow anyone or any situation discourage you.

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Goose
Posts: 35
Joined: Sun Apr 12, 2015 9:31 am

Re: Bankrolling your hobby router

Postby Goose » Sun Nov 22, 2015 5:27 pm

If you are entering the market for the first time and you are aiming at making profit immediately, you might end up failing. you need to build a good base. you need to invest more at start up and be patient till you break-even


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