Dave Hammer Posted July 25, 2008 Share Posted July 25, 2008 Valentin.... Most of the cost, and thus requiring the most income, in most small businesses, is employee's salaries and benefits. If you believe you can enjoy blacksmithing, and a living can be made (such as when your father owned the business) with a smaller shop, you might consider reducing your business staff to one or two (you and one employee that can get the selective work done). Continuing to work in a small business that has no joy is not a good thing. Take a careful accounting what what your options are before you make major changes. Quote Link to comment Share on other sites More sharing options...
Uncle Duke Posted July 26, 2008 Share Posted July 26, 2008 What is my shop worth? From a financial standpoint, about $2000 in raw materials, if you're talking replacement costs. From a scrap metal value, probably a quarter of that. From an emotional/personal value, priceless. I am in the process of setting up my first shop after a divorce four years ago; previously I had space at a friend's shop and had a number of tools that I lost in my divorce. I have a home built coal forge (30" x 24") with a large hood, Dayton blower, with a rheostat. I purchased a 122 Mousehole forge anvil, Columbian post vise, a homemade anvil stand (5/8" plate steel with a 1/2" wall schedule 30 steel pipe), a tool rack, a dozen or so tongs, a couple of French and German cross pein hammers, quench buckets, homemade treadle hammer, and will soon have an open air (enclosed on three sides) shelter (local zoning regs don't allow structures in residential areas to emit noxious fumes, soot, dust, or smoke). I am not a blacksmith by trade, although some days, I think it would be more enjoyable than my 8am-6pm job. I have found that working with metal is very relaxing and much more cost effective than therapy for me after the initial start up costs, is very rewarding (I am making the decorations and various accoutrements for my upcoming wedding and reception), and a lot less dangerous than my job or other hobbies/endeavors. Quote Link to comment Share on other sites More sharing options...
slippse Posted September 22, 2008 Share Posted September 22, 2008 When i worked with my father and my father only it was a pleasure ...to work. Now when i go to the shop it's just ... i don't know i don't whana say ugly things but ... i just don't go with pleasure. I see so many flaws and nobody is responsable for them... but i have to be. Today i just sent home 2 of the people working with me. One was drinking during job and the other was doing everything that i sayed but in the oposite way(no need to say that after this show...everybody did his job right). I want to be able to do blacksmithing work with pleasure again. I used to work with my father in road construction. When he retired i started hating my coworkers. They just didn't give a xxxx about me or what we were doing. I changed jobs and still find that most of my coworkers don't give a xxxx but I try to find people who I like and who show they care about something. You might find that what you loved about working as a blacksmith was your father. Now you just have to be proud that you carry on his legacy. Try to find what you love about the job now and enjoy it or change it. Quote Link to comment Share on other sites More sharing options...
rustyshackleford Posted September 22, 2008 Share Posted September 22, 2008 Obviously anything that was done with a Dad (the highest rank in manhood)is special. I know that without mine my life would be considerably less enjoyable than it is now, he is one of my true best friends. That being said.....maybe a grand historically/functionally; that's being lenient. emotionally priceless, duh, it's a man's tools! haha Quote Link to comment Share on other sites More sharing options...
philip in china Posted September 23, 2008 Share Posted September 23, 2008 On the original question of how much is your shop worth there is a very sad thread running on another site about a man who has had everything destroyed by a serious fire. He is trying to count how much all his tools, supplies etc. were worth. Quote Link to comment Share on other sites More sharing options...
ironrosefarms Posted September 23, 2008 Share Posted September 23, 2008 With recent talk of tool values here and such and a friend who asked how much I have invested... it got me thinking, then it kind of scared me... I have very little equipment compared to some of you and yet the dollars racked up pretty quick. I've decided that in the process of building a permanent shop that I will do a inventory list of everything before it goes into the building... Quote Link to comment Share on other sites More sharing options...
Golden_eagle Posted September 23, 2008 Share Posted September 23, 2008 I have $2400 into my forge currently, But i'd not sell it for a cent under $5500, Quote Link to comment Share on other sites More sharing options...
Glenn Posted September 23, 2008 Share Posted September 23, 2008 That must be some forge !! If you add the cost of the anvil, vise, and other stuff the total might scare you (grin). Quote Link to comment Share on other sites More sharing options...
patrick Posted September 23, 2008 Share Posted September 23, 2008 My dad taught me long ago that the value of a thing is only worth what the buyer is willing to pay. That being the case, it is very hard to say what all my equipment would sell for if that were necessary. I do try to buy tools were I can at least get my money out if I do sell them, and I have sold some, usually becuase of an excess or lack of use. From an insurance point of view, I would want to insure the equipment at the cost of replacing it. When you use that as the standard for determining value, you probably would arrive at a figure of somewhere between $30K-$50K, but half of that would be replacing the large Bradley with new hammer of equivelant capacity. Patrick Quote Link to comment Share on other sites More sharing options...
Avadon Posted September 23, 2008 Share Posted September 23, 2008 That ole addage "Good help is hard to find" never goes out of style does it? The new model of hiring (which i'm sure you've seen) is temp to perm. You might want to look into this Valentin. You simply hire a temp agency which puts your specific requirements out there and then they temp with you for x amount of weeks or months at the end your under no obligation to hire and the employee knows this. It is much easier to let them go at the end if they aren't up to grade. As for my own shop value.. it's priceless.. namely because I make occult items and thus part of a "spirituality" (if i dare use that term, as I don't believe in spirits or the supernatural) is within my shop, tools, and all that I make. The day I stop hammering will be the day I either die or solely sculpt with clay You need another hobby Valentin, or spend time with your wife/family if you have either. Find outlets to de-centrify your shops concern. If you enjoy other aspects of your life I think it will overall graduate your ability to handle stress at the shop. If the stress at the shop interferes with all other aspects of your life then it will only perpetuate until your burnt out and can't do anything you love. Trust me when I say burn-out is real, I burned out of the computer industry and it got so bad that I literally couldn't even help my friends with their computers, and I used to LOVE computers. Now I can handle them marginally but the interest will never be there like it was. Too many hours, to many bad customers, to many networks and all nighters for too little pay, too much self-abuse at the expense of making bosses rich, and it all collapsed around me. Now I love working with my hands and my mind, versus just my mind. Quote Link to comment Share on other sites More sharing options...
Glenn Posted September 24, 2008 Share Posted September 24, 2008 the value of a thing is only worth what the buyer is willing to pay. If you purchase an anvil for $1000, that is the anvil's value to you. If you sell it for $200 that is the value to the new owner. Both are real values. The difference can have many reasons. Quote Link to comment Share on other sites More sharing options...
NateDJ Posted September 24, 2008 Share Posted September 24, 2008 Don't forget the value of helping a friend, the friend may only be able to afford the $200 but you both know the real value of the anvil is way higher. The friend may have been willing to pay more and just couldn't? ;) Quote Link to comment Share on other sites More sharing options...
Blacksmith Jim Posted September 24, 2008 Share Posted September 24, 2008 Valentin, I recommend a vacation! Also, the comment about finding another person to start taking on the business running is a sound one. Is there an employee you have that you trust and can count on? Maybe they are ready for a promotion and more responsibility? Quote Link to comment Share on other sites More sharing options...
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