tom91 Posted December 28, 2011 Posted December 28, 2011 Hi, I'm currently at a stage of doing a research because I've found a talented guy (A blacksmith with 20years of experience) who does an artistic blacksmiths (not sure how you call it). What I thought was that his skills can be utilized to make money. What he needs is a place and equipment to work which I can find for him the question is:Is investing into blacksmith a risky investment ? A few British websites says that the demand for blacksmiths is decreasing and their average waged are fairly questionable (£300-£550/week) which would hardly return invested money. What are your opinions in this industry (based in UK)? Regards, Tom Quote
Francis Trez Cole Posted December 28, 2011 Posted December 28, 2011 do not know much about the U.K. but with 20 years experience he should be able to make most of his own tools. if he needs a place to work check with the blacksmith group in UK he should already be a member if his art is already in demand than he should be able to pay for shop time. Check with historic sites as well he be able get shop time for doing demos for the public. Quote
John B Posted December 28, 2011 Posted December 28, 2011 Hi, I'm currently at a stage of doing a research because I've found a talented guy (A blacksmith with 20years of experience) who does an artistic blacksmiths (not sure how you call it). What I thought was that his skills can be utilized to make money. What he needs is a place and equipment to work which I can find for him the question is: Is investing into blacksmith a risky investment ? A few British websites says that the demand for blacksmiths is decreasing and their average waged are fairly questionable (£300-£550/week) which would hardly return invested money. What are your opinions in this industry (based in UK)? Regards, Tom If he has 20 years experience of any value, he should be making a living from it by now and to know how and what tools he will require, and where to beg borrow, or hire them from, It seems like he is looking for a sponsor rather than an investor. Not knowing your situation it would be difficult to give any advice on as to what will be expected from you, I would suspect that like a lot of others he may be experienced, but cannot market himself, in which case that will fall to you or others to undertake. Bit like gambling,. if you can't afford the loss, don't put your money on an uncertainty. Quote
Ferrous Beuler Posted December 30, 2011 Posted December 30, 2011 Hi, I'm currently at a stage of doing a research because I've found a talented guy (A blacksmith with 20years of experience) who does an artistic blacksmiths (not sure how you call it). What I thought was that his skills can be utilized to make money. What he needs is a place and equipment to work which I can find for him the question is:Is investing into blacksmith a risky investment ? A few British websites says that the demand for blacksmiths is decreasing and their average waged are fairly questionable (£300-£550/week) which would hardly return invested money. What are your opinions in this industry (based in UK)? Regards, Tom If I am reading this correctly you are wondering if a blacksmith added as window dressing to some sort of attraction such as a craft fair or historical reenactment situation will bring profits to your pocket. Yes, it will. My question is what does the blacksmith need you for? Quote
David Einhorn Posted December 30, 2011 Posted December 30, 2011 Whether the arrangement will be profitable for you depends on a lot of factors that we don't have access to. Some of which are: - the gentleman's actual skill level - how his work will be marketed. - the physical situation of the forge, will it be an attraction at an historical site, or will he be working and selling his wares where there is no foot traffic. - the type and market for his type of work. Is he making flea market items or is he making high end products for the wealthy - why he is not already an established artist and/or business man - etc, etc, etc. Quote
ThomasPowers Posted December 30, 2011 Posted December 30, 2011 So many variables! You can be a skilled smith and a lousy worker You can be a skilled smith but not able to do designs You can be a skilled smith but not able to do sales You can be a skilled smith but not able to run a business USW... I know several smiths who have married someone with their missing talents and so have gone from barely scraping along to doing well. Quote
nonjic Posted January 1, 2012 Posted January 1, 2012 From the way you have phrased your question it makes it sound like you know nothing about the trade, or industry. This makes it a very high risk investment. Anyones skills can be utilised to make money for them. You can make money off the back of anyones skills, in any industry, if YOU have the skill to do it. The fact you have to ask the question does not bode well for your pockets, in my opinion. The question sounds like the business studies assignments we had to complete when I was 15. Break it down into fixed costs, variable costs, forecast your revenues, forecast your cashflow, do a monthly breakeven anaylsis - do a SWOT analysis of yourself, the blacksmith, the market. You can massively reduce the risks of investment by knowing your numbers. Quote
tom91 Posted January 10, 2012 Author Posted January 10, 2012 Break it down into fixed costs, variable costs, forecast your revenues, forecast your cashflow, do a monthly breakeven anaylsis - do a SWOT analysis of yourself, the blacksmith, the market. You can massively reduce the risks of investment by knowing your numbers. Yup I know those business predictions fairly good. The problem is I'm only 20 and with no experience in real-life market I'm fairly scared about this and yet I believe that this person can be a really good and profitable worker. Anyones skills can be utilised to make money for them. You can make money off the back of anyones skills, in any industry, if YOU have the skill to do it. What I was afraid at first was if it was the right person the right market, its now time to research the market and prepare the costs =) Thanks for replays. Quote
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