: That is basically the point. From the analyses I done, in today's economy you
: can't jump into a boatbuilding business and expect to make a substantial
: profit. For the first few years you would indeed be making better money
: flipping burgers than building boats.

: There is a fairly high financial hurdle to clear, and it typically takes
: years to establish credibility as a boat builder. It is going to be very
: difficult to come up with a winning business plan to present to a bank to
: get a money for starting a boat building business. Unless you invest a
: tremendous amount of your own capitol, the numbers just aren't there. If
: someone wants to invest their own savings in such a venture, then I
: sincerely wish them well, but they should remember that if they put their
: personal tools, buildings and money into the business, should fold, those
: items can be taken by creditors. The US Small Business Administration
: gives odds on small business failures of 50% in the first year, and 90
: percent in 5 years.

: If you want to do this for a hobby, it will be very fulfilling. If you do
: this over a long period of time (as a hobby) you might eventually pick up
: enough business to develop a reputation, or stockpile enough plans to
: sell, or write a few books so you get residuals. Along the way you'll
: build jigs, gauges, tooling, and forms.

: You'll slowly invest in tools. You'll also add "mental tools" to
: your inventory as you learn additional techniques for building, and for
: solving (or avoiding) those problems which always seem to crop up. With an
: extensive background and experience your odds of success are much greater,
: but they are still against you.

: The answer to most questions about success in business seems to be based on
: hard work and long hours. If you are really hooked on it, then you don't
: mind the long hours.

: Either that or you'll develop a sensitivity to cedar dust or epoxy, and have
: to find ways to preserve your health.

: Just some thoughts.

: PGJ

If you don't live on one of the coasts, don't even bother trying the bank no matter if your business plan is the best that's ever been. Other than a thin strip of land down each coast the bankers don't know enough about boats to understand anything. This from alot of experience.

Bill H.