Knife making as a primary income

There are so many choices already for a person wanting to buy a knife.

People who want to buy a mediocre handmade knife at 5X the cost of a Walmart knife just because it's handmade are a small and well served segment.

Making a good knife that is a reasonable value in a sustainable time frame and making a profit can be done, but it's way easier to just open a hotdog cart.

What it boils down to is, unless you're making art boutique knives, you're getting into manufacturing in the United States. Unless you already have a background in some sort of manufacturing industry there is a tuition.
 
Like Terzuola said when asked how long does it take him to make a knife - "about 10 hours and 20 years", 20 yrs being his tuition investment.
I have 26 yrs in manufacturing engineering operations management and I wouldn't give this a go on my own. I can even use the machines at work for free at night and I wouldn't do this.
No thanks, I've done my own thing owning and operating auto collision shops, It's fun doing your own thing but as I get older, who needs the risk....

Emerson sells 1,000 knives a month, Pro-Tech less but similar, Carter 100 knives a month, these are the only guys I know making it work.
They do it as Kevin mentioned - "small knife manufacturing business with people working for you"

Everyone here I know makes $80-$120K per year, The burdened rate is 20% higher, I don't know to do that making knives....

2 guys I know that went into knifemaking full-time from regular jobs, 1 of them won best new maker at Blade and is both talented and efficient and has made a success of this, he can make 15-20 knives a month at $500 plus. The other, extremely talented but his business handling seems a mess, just waiting for him to crash and burn.

Living in So Cal with our house prices and private school tuition for kids...I'm with Jerid, I'll take my corporate job and salary, vacations and bonuses, after all, I've earned it. :-)
I'm just trying to be like Larry for when I retire :-)
 
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The prospects are not good. Better to keep it as a hobby unless I work for someone else that has the machinery already. Maybe the path I'm going down is good but I need to stop before ever giving up a decent job for the craft.
 
The way I see it, the mark for most people to reach is a self funding hobby. When the knives pay for hte steel and abrasive and can start to chip away at the cost of machinery, I say you are doing ok.

That what made me start selling wood, and now its how I am paying for my "very real" tuition.
 
A "self funding hobby" is pretty much the mark of success to shoot for -- or at least self funding enough to get your wife off your back about it!

I love being in my workshop and making things but sometimes when I'm home in my office, looking at the financials, it gets depressing.
 
I would say this ... you better think long and hard . Do a ultra quick run down of the total cost of what it REALLY cost to make your most popular knife you make and can actually sell. The selling is the important part . Now add up how many you would need to finish a week to turn a profit . Now honestly ask yourself who these buyers are every week or month who will buy these products . Now ask what is the saturation point when your knives will no longer be of interest to these buyers .

That will be your answer .. self awareness is a very good trait . Nothing wrong with dreaming either .
 
What a great thread! Thanks for starting it Bodog. My situation is very different and I'm not sure my reply will help anyone else except perhaps for the different perspective from which I came. I am strictly part time and would never consider going full time. I'm a retired army guy, definitely not wealthy, but everything is paid for, the income is adequate and entirely reliable and health care is covered. Before I ever thought about making a knife I had a working shop with lots of tools and even a Sears 2x42, drill press, angle grinder, Lincoln welder, dremel and lots of hand tools. When I discovered knife making I was quickly hooked and after a few months even sold a knife to a friend who wanted one and charged him about what the materials cost me. Then others followed.

After two years I can make a fairly decent knife and have made about 70 that I count and sold 50. In the first year that I considered it a "business" the knife income paid all the direct costs for materials and small tools, abrasives, glue etc plus a little bit of "profit". But of course I did not have to buy/build a shop or even very many tools that year so what I call a profit would not really be one for anyone who had to buy all that stuff I already had. So what I have is really an income producing hobby. Not sure it will turn a profit this year because I bought a used 2x72 grinder and it will take quite a few sales just to cover that.

So that's my story - I am quite happy with what I am doing - I have about five knives in the shop now in various stages of completion some of which are already spoken for, one is for me, and one might turn into a gift. Sorry to ramble so much but I just love this subject.
 
Marko3 said:
Now honestly ask yourself who these buyers are every week or month who will buy these products . Now ask what is the saturation point when your knives will no longer be of interest to these buyers .

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Mark I love your phrase "saturation point". I've hit mine I think - a bunch of my hunting buddies each bought several of my knives last year and although I have two orders from one of them now, I know that this particular market will not last. For me, that is fine; because at one point I had 11 orders outstanding and felt really pushed. Now I have about half that and no one is pressuring me. But that also would not work if I had too live off knife sales.
 
Col Defender said:
Mark I love your phrase "saturation point". I've hit mine I think - a bunch of my hunting buddies each bought several of my knives last year and although I have two orders from one of them now, I know that this particular market will not last. For me, that is fine; because at one point I had 11 orders outstanding and felt really pushed. Now I have about half that and no one is pressuring me. But that also would not work if I had too live off knife sales.
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I know what you mean about pushed. I don't have a lot of orders. I have one. And I don't even like that pressure.
I have a full time career, and wouldn't think of leaving it for a second to try to make it in the knife making world.
Now as a slight supplement to my retirement, that I could consider.
I really enjoy creating a useful tool and selling it. It would be real pain to me to have to make a bunch of tools to sell to make my living.
The satisfaction of crafting each knife and learning lessons from it would turn to pressured production, and that would not be nearly as enjoyable.

That's my two cents and has a lot to do with where I am in life. YMMV
 
Brock47 said:
I know what you mean about pushed. I don't have a lot of orders. I have one. And I don't even like that pressure.
I have a full time career, and wouldn't think of leaving it for a second to try to make it in the knife making world.
Now as a slight supplement to my retirement, that I could consider.
I really enjoy creating a useful tool and selling it. It would be real pain to me to have to make a bunch of tools to sell to make my living.
The satisfaction of crafting each knife and learning lessons from it would turn to pressured production, and that would not be nearly as enjoyable.

That's my two cents and has a lot to do with where I am in life. YMMV
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Amen!
 
I wanted to bump this to the top because it's so helpful and I never said thanks to the guys for taking the time to offer advice and share hard earned wisdom. Thank you all.
 
knife to a gunfight said:
A lot of guys who go full time also have spouses with full times jobs, health insurance, etc... and/or have their homes and shops pretty well paid off, or have a very low mortgage/rent payment. Many also have years, if not decades of getting their names out there, goings to shows (and more shows) and making a name. You've definitely got to know how to hustle.
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^^^This^^^ and what Stacy said.
I retired after 37 years from my other job, collect a pension, my house is paid for, I have very little debt and my wife works fulltime and carries the health benefits. I'm fulltime at knifemaking without the pressure of worrying about making the bills every month. I don't take orders, make what I want at my pace and sell on my website. I've been at this for 13 years and have found my place in the outdoor market. Best advice I can give is bend over backwards to make your customers happy. Repeat customers and word of mouth is your best advertisement.
Scott
 
Really agree with what Nathan said about manufacturing, production is key if you only make knives. I have two hoophouses and grow tomatoes and cucumbers, plus we store and preserve 3 freezers of food per year. Self sufficiency changes the equation a bit. Carpentry, masonry, and tilesetting plus handyman stuff for cashflow. Mak hand weeders, hoes, wheel hoes, and anything else I can sell, often from repurposed items. Sell veggies and sharpen knives at farm market, and sell picked antiques on ebay. For backup income I do farm labor and work as a framer for a contractor friend. Also sell agates, fossils, driftwood, and some plant starts, repair metal detectors. Eggs and baskets and all of that, doing what you love
 
I've been at it full time for about 8 months now, and the lights are still on. I'm 31, single, and I have cheap rent and shop space at home. I do occasionally supplement my income doing some home improvement for friends or flipping a motorcycle. I built my own tools and benches, and I'm very conservative about scaling things up. Essentially, I've let my sales guide my commitment, rather than committing and then hoping for the sales. I didn't even try to start selling knives, my first handful of sales were at the insistence or friends and family (which is the same for many people). All that being said, I was a student when it all started, so I wasn't giving up another income source to pursue knife making. I think you've got the right idea, just do it for fun, show off your work, and if the demand is there then fill it. You should also ask yourself what you're going to any different or better than anyone else. Finding room in the market can be a challenge. It also easy to get tricked into thinking that your competitors are overpriced and you can undercut them. You might look at a $500 knife and think " I can make that for $50 in materials, 1000% markup, whoo-hoo!" Then when you start doing all the math including all the extra hours spent on photos, website, marketing, travel to shows, as well as taxes, insurance, and the like, you realize that you need to charge the same or more.
 
Most knifemakers break even at best.

I'm also convinced that most makers don't know how to accurately calculate production costs, which leads to the perception of profit when they are actually losing money on each sale.

Knifemaking is something I do for fun. Turning it into a full time business sounds like a great way to lose a lot of money quickly.
 
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Niche marketing is the key to success.
Look at any of the big-time makers-they do something better than everyone else, or something unique.

Being a knifemaker is very much like being a musician- most never have a "hit," but there are a lot more musicians than knifemakers. If you are innovative, there is a good chance you can be reasonably successful. You not only need to be a very good knifemaker, but also a good business man.

Anyone who is already successful is not busy grinding blades day and night. They have branched into factory production or other products.
My business is a little different than most makers, but I can work as much as I want, whenever I want, and make very good money doing so. Niche marketing.

That said, the constraints of knifemaking for a living BEFORE you become successful can keep you from ever BEING successful.
Having another source of income gives you the ability to find your niche, buy equipment and materials, and take the time to market your business properly.
 
I agree very much with Bill on this one. ^
Knife making is like any business. If you take a great businessman and put him into Almost any industry he will succeed. It doesn't matter if you're selling burgers or blades business is business and things like innovation, marketing, customer relations, etc ought to not be overlooked. There's a lot more to being a successful knifemaker than making a nice knife. That said, it can be done and done well. The market is A LOT bigger than most realize. Just my two cents. :)
Blessings,
Joshua
 
When I take into account what I'm saving on therapy and booze, I'm probably just breaking even.😂

Sent from my XT1095 using Tapatalk
 
If you can hire a pretty girl with a nice smile and large bust who is friendly, talkative and personable; one who won't rip you off.


She can make you more money in a day selling hot dogs and soda pop from a cart / shack at a busy location than you can make selling handmade knives.


Think about that.
Easy to scale up to ten or more locations.
 
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