I like my conditioner a little on the softer side so I use 1 pound of beeswax to 64 ounces of mineral oil. If you want a little firmer conditioner you can add a little less mineral oil and if you want a conditioner with more of a lotion texture then add a little more oil. There is no "written rule" but that is what I use for my mix. Thanks for the question!
Good video mate. I used to have a furniture business and worked on $80.00 per hour all cost calculated, which worked out for me to be approx 85% mark up. I was a big bed manufacturer, and could sell a std King size bed for $287.00 to retailers. For all my hard work running my business, paying wages, all overheads etc....the retailers would immediately put a mark up of approx 300% up, and retail at between $790 to $1200 for my $287.00 bed.....Boy are we manufactures suckers or what, retailer did noting and made 3 -4 times the profit. I now make Designer Boards from home and make huge profits with no employee's and minimal overheads. lol its a hard world to be a business owner.
Thanks Mike! I agree! There is so much profit to be had and I just hope to convey to people that they should not be afraid to charge what they are worth. Being a business owner is full of hard decisions. 👍
Hey man I’m 18 years old I live in cali and i voyager a garage workshop and I’m makeover my cutting boards out of nice hard exotic woods and I appreciate this video and gave me inspiration and knowledge to build a business.
damn dude! how in the world are your subs so low with such great info?! im hoping for you that your business booms and you get to stay home and build boards and make butter for a living!! this was great! best part was the added psa, because my wife and i are starting a side crafing business and hove no idea how to price our products ( mine is wood{ cutting boards and wall decor} and hers is travel mugs, heat press, decals and stickers) thank you for this info!! im looking foreward to watching your catalog of videos!!
Enjoyed the video on making the Board Butter and how to build a business. I have wanted to learn how to make the board butter for a while now. I find that Howards is a good product how ever it would be better when I could put my on name on what I have made and sale for a profit like you showed on building a business. Thank you!!
I am glad you enjoyed it! I hope it helps you in getting started with your business. Building a business starts with one good product. Go make some profit! 👍
Excellent video...thank you so much! I make cutting boards for my camper friends, but the commercial butter board was expensive to give away. You DIY method saved me $$$. Mike
Excellent video especially the bonus information at the end... Wife and I have a business and that truly was a bonus for us. Thank you and God Bless you!!
Just subscribed. Thanks for the video. I am a beekeeper and I've been looking for ways to use all of my beeswax. I think this will be a nice addition to my honey products. Thanks again.
Here's another idea for you. Replace the mineral oil with coconut oil. 1:3 beeswax to coconut oil, about. It makes the most perfect skin conditioner. Not moisturizer, skin conditioner. You exfoliate - use white sugar, not these environmentally harmful plastic micro-beads. Then put some of the conditioner on your face. Leave for about an hour. Wash off. You can do it at night before you go to bed but do wash off or you'll have a nasty pillowcase. Its unreal for lips and scruffy heels but if you use it on your heels wear socks.
Wonderful video! I really enjoyed the bonus footage at the end. I just wanted to make some for myself & my brother, who makes boards, because the conditioner wax is $16 on Amazon! 😳Therefore, there is room to grow the price! But $8 is a nice starting point I think. I appreciate you taking the time to explain how to price out work as I’m an artist and I know this method works well for me too. I have to shake my head at people on Etsy selling themselves short on the things they make. I know they are not making a profit. If you under-sell yourself, it can have the opposite effect and people will think you’re product isn’t as good. You’re also setting yourself up in a trap because now, your repeat buyers will expect that lower price. Anyway, thanks for the video! Liked and subscribed! 🥰
Thanks for watching! I appreciate your comments too. It really is tough to see some people trying to make a business work but not realizing their products value. Thanks again 👍
I went to a thrift store and bought a crock pot for $8. I use a measuring cup to transfer mix to the cans. 3 parts oil to 1 part wax (by volume). I bought round labels at Walmart and printed my labels.
thank you so much for a great video!! I loved your simple explanation about profit and mark up. I would love you to make another video about growing the business. I love how easy it was to follow you. and thanks for the board conditioner.
Thank you so much for all the good knowledge you gave us in this video, I’m all the way from Saudi and woodworking is really expensive here .. i have a very tiny workshop and I’m thinking to start a business bcuz i love working with wood but I don’t have enough knowledge and experience in either woodworking or building a business from scratch, plus I don’t have the budget.. if u have any advices I’d appreciate it
Thanks for the video! I'll be making some cutting board conditioner soon. And great information at the end of the video - it's something I struggle with in deciding how much to charge for some of the items I make. I seem to always undervalue my work.
Thanks for watching! I like to use walnut, cherry and Maple for cutting boards but really anything that doesn't have a huge open grain will work great. I tend to avoid ash and oak because of its big open grain. I wouldn't use anything too soft like Pine or Poplar because it will leave knife cut marks.
Great video! I’ve been doing cutting boards for a while now. I’ve been wanting to make my own board butter/ conditioner for a long time. Now I can! Thanks so much! May your business continue to grow and succeed!
Your project is fantastic; wonderful. Very good video. At least it will take into account that good idea; but you must be careful not to steal your wife's kitchen utensils. In the end she will notice and I don't want to think about it. Ha, hahaha.THanks Two Elm Buils.
Great video, and thanks for the tips at the end. I've been puttering around with wood working for a few years, but am now getting more serious. I wanna grow my business. Im starting to earn capital by making a few products of different types and taking them to craft fairs and small local shops that sell home décor things. That way I can put a few bucks into getting more of the tools and supplies I need to make more stuff. I plan on having an Esty store at some point.
Good info. The only suggestion that I would make is to factor in a few more overhead costs to a product. Building utilities (IE: electric, gas, water) do not come free of charge. Neither does insurance on the building/shop. What about yearly taxes that have to be paid and other hidden fees? Shouldn't these costs be broken down to a daily or hourly overhead cost and added back to the total cost of the product? BUT! Do not get outrageous with the final selling price! Without going detail, I can tell you APPROXIMATELY what it cost me per hour once I unlock that door and turn on the lights. My point is ... Do not "short change" yourself & DO NOT take advantage of the customer!
I just made a simple Charcuterie board, 10" x 14", I used this recipe for the finish, I do however put a liberal coat of straight mineral oil on my projects and let it soak in first. That way it penetrates deep into the wood for better and longer protection. I was thinking of charging around $60 for it. Seems kind of low according to the info you provided, I'm just worried that if I charge more it'll just sit on my shelf and not get sold. Thoughts?
Jason, that is awesome! I love seeing people succeed! Come up with a good plan and stuck with it. If you want more information on pricing, I do have a video all about how to price your work, both wholesale and retail pricing. If I can help with any questions, just hit me up! GO BE GREAT! and thanks for watching 👍
I haven't had any issue with this. Myself because I store them in my office. If I didn't have somewhere cool to store them, I think I would keep them in the refrigerator. Don't freeze them though, I don't think it would have good results. If you find a better answer, let me know. Best case scenario is to sell them right away 😜
Good question, beeswax will not go rancid and it would take years for the mineral oil to oxidize and go bad. So, it is doubtful you need to worry about an expiration time. If you have an older tin if conditioner and it has a bad odor, I would just throw it out to be safe.
@@josephjohnson6229 I would say you could, as long as the tung oil is fully cured. If it isn'tcured, the oils aren't going to work well together. I wouldn't put tung oil over mineral oil because the mineral oil will never cure under that Tung oil. But mineral oil over cured tung oil should be fine.
It really depends on the size and the species they are made with. Also, I do alot of personalization with my laser and with inlays. If it were just a simple edge grain walnut board maybe 12" x 18" (ish), I would look to be in the $120-$150 range depending on thickness, but again, too many factors to make a definitive answer. I have sold larger personalized boards in the $250 range. Each client is different and each project is different.
I know that paraffin wax is definitely food safe, but I have never used it in this application. I would be willing to bet it would solidify a little firmer than the beeswax. Couldn't hurt to try it. Let us know if you do. 👍
am I wrong...or was that a 100% markup? Keystone is doubling your cost (or wholesale price, if you're buying from a wholesale vendor). You doubled your cost so your markup was 100% of the cost of your product...not half of it (which would have been a 50% markup). Yes, your profit margin is 50% (that's Keystone) but your "markup" to get there was 100%. Small potatoes! Great vid!
You are correct, I missed the wording and used markup and margin through out. I was after increasing Margin. I was trying to keep it simple for everyone to understand and complicated it in the process. 😂 I think the main idea was conveyed? Hopefully. Thanks for watching and helping! I appreciate it! 👍
@@twoelmbuilds you conveyed it perfectly and super easy for everyone to understand! Sorry - wasn't trying to be a 'know it all', but thought it may help for a future vid if you use that slide again as "Small Business Markup = 50%" was pretty much the bold heading of the slide. Subscribed!
He did the math right. If the markup is 50% of the total value, it means he has to double the value. In other words (your words) the costs need to be increased by 100%, which is the same 😂
Isn't that 100 percent profit? It was 100 percent more than it cost you in time and materials. 50 percent would be 100 percent of what it cost plus another half. So, 150 percent or 1.5 times... though 8 bucks still seems like a fair price. What's going on with my math? Feeling dumb here. I just made some of this today for a project. Thanks for the video.
You are right, it just depends on how you look at it. Of the total amount, half goes to materials/time and half is profit. So it is called a 50% margin.
That is true! But markup and margin are two different calculations. A 50% margin is $7.68. A 50% markup is $5.76. Just a confusion of terms. The keystone markup system works on a 50% profit margin and 100% markup. If I mis-spoke that in the video I apologize for the confusion it caused. You are very right with your response!
You are correct that it is a 100% markup, but it is also a 50% Profit Margin. Two different things. I know I didn't nail it in the explanation perfectly, but I think it hit the numbers for most to understand. Thanks for watching! Appreciate the comment!
What was the ratio of mineral oil to beeswax?
I like my conditioner a little on the softer side so I use 1 pound of beeswax to 64 ounces of mineral oil. If you want a little firmer conditioner you can add a little less mineral oil and if you want a conditioner with more of a lotion texture then add a little more oil. There is no "written rule" but that is what I use for my mix. Thanks for the question!
Basically a 4:1 ratio
If you add orange oil will it throw off recipe?
Good video mate. I used to have a furniture business and worked on $80.00 per hour all cost calculated, which worked out for me to be approx 85% mark up. I was a big bed manufacturer, and could sell a std King size bed for $287.00 to retailers.
For all my hard work running my business, paying wages, all overheads etc....the retailers would immediately put a mark up of approx 300% up, and retail at between $790 to $1200 for my $287.00 bed.....Boy are we manufactures suckers or what, retailer did noting and made 3 -4 times the profit.
I now make Designer Boards from home and make huge profits with no employee's and minimal overheads. lol its a hard world to be a business owner.
Thanks Mike! I agree! There is so much profit to be had and I just hope to convey to people that they should not be afraid to charge what they are worth. Being a business owner is full of hard decisions. 👍
There is the way!! Best way to “stick it to the man” and help correct our market. Thanks for taking the risk it took to move into self employment. 👏
I just want to say THANK YOU. The world needs more local independant businesses. You sir are helping that.
Thank you! I appreciate it! 👍
Hey man I’m 18 years old I live in cali and i voyager a garage workshop and I’m makeover my cutting boards out of nice hard exotic woods and I appreciate this video and gave me inspiration and knowledge to build a business.
Thank you! You got this! Keep being excited for your future and Be Great! 👍
damn dude! how in the world are your subs so low with such great info?! im hoping for you that your business booms and you get to stay home and build boards and make butter for a living!! this was great! best part was the added psa, because my wife and i are starting a side crafing business and hove no idea how to price our products ( mine is wood{ cutting boards and wall decor} and hers is travel mugs, heat press, decals and stickers) thank you for this info!! im looking foreward to watching your catalog of videos!!
Thank you so much! I just keep plugging away and growing day by day. 👍 I wish you and your wife all the best in your business! Thanks for watching
Enjoyed the video on making the Board Butter and how to build a business. I have wanted to learn how to make the board butter for a while now. I find that Howards is a good product how ever it would be better when I could put my on name on what I have made and sale for a profit like you showed on building a business. Thank you!!
I am glad you enjoyed it! I hope it helps you in getting started with your business. Building a business starts with one good product. Go make some profit! 👍
Excellent video...thank you so much! I make cutting boards for my camper friends, but the commercial butter board was expensive to give away. You DIY method saved me $$$. Mike
Awesome! Thanks for watching! 👍
Thank you for breaking down how to determine the price of a product. Very helpful.
No problem. I am currently working on another more detailed series on pricing.. May be a few weeks yet but watch for it. Thanks for watching!
Excellent video especially the bonus information at the end... Wife and I have a business and that truly was a bonus for us. Thank you and God Bless you!!
Thanks Wade J! I appreciate it! God bless you too!
Just subscribed. Thanks for the video. I am a beekeeper and I've been looking for ways to use all of my beeswax. I think this will be a nice addition to my honey products. Thanks again.
That is awesome! I love using beeswax! Thanks for watching and subscribing! 👍
Here's another idea for you. Replace the mineral oil with coconut oil. 1:3 beeswax to coconut oil, about. It makes the most perfect skin conditioner. Not moisturizer, skin conditioner. You exfoliate - use white sugar, not these environmentally harmful plastic micro-beads. Then put some of the conditioner on your face. Leave for about an hour. Wash off. You can do it at night before you go to bed but do wash off or you'll have a nasty pillowcase. Its unreal for lips and scruffy heels but if you use it on your heels wear socks.
How can we thank you for this amazing video...? Wow.....!!!!!!!! So much info in a single video...!
Thanks for watching! I appreciate it
Your video was easy to follow clean and helped me a lot! Thank you My friend !
Happy it help you! Thanks for watching 👍
Just what I needed to know. Thank you and please; keep it coming. I’m personalising cutting boards.
Awesome! Thanks for watching 👍
Great video. Thank you!
Greetings from Portugal
Thanks Pedro! I appreciate you watching!
Wonderful video! I really enjoyed the bonus footage at the end. I just wanted to make some for myself & my brother, who makes boards, because the conditioner wax is $16 on Amazon! 😳Therefore, there is room to grow the price! But $8 is a nice starting point I think. I appreciate you taking the time to explain how to price out work as I’m an artist and I know this method works well for me too. I have to shake my head at people on Etsy selling themselves short on the things they make. I know they are not making a profit. If you under-sell yourself, it can have the opposite effect and people will think you’re product isn’t as good. You’re also setting yourself up in a trap because now, your repeat buyers will expect that lower price. Anyway, thanks for the video! Liked and subscribed! 🥰
Thanks for watching! I appreciate your comments too. It really is tough to see some people trying to make a business work but not realizing their products value. Thanks again 👍
Straightforward, helpful, and no fluff. I’m now a subscriber. Good job.
Thank you Mike! I appreciate you watching! Now go make some board conditioner! Lol
Thanks for sharing your time and talent! Great information
Thank you! I appreciate you watching!
I went to a thrift store and bought a crock pot for $8. I use a measuring cup to transfer mix to the cans. 3 parts oil to 1 part wax (by volume). I bought round labels at Walmart and printed my labels.
Awesome! That's how you to get it done! 👍
thank you so much for a great video!! I loved your simple explanation about profit and mark up. I would love you to make another video about growing the business. I love how easy it was to follow you. and thanks for the board conditioner.
I do have another video entirely on pricing. What area are you specifically looking to grow in your business?
Thank you so much for all the good knowledge you gave us in this video, I’m all the way from Saudi and woodworking is really expensive here .. i have a very tiny workshop and I’m thinking to start a business bcuz i love working with wood but I don’t have enough knowledge and experience in either woodworking or building a business from scratch, plus I don’t have the budget.. if u have any advices I’d appreciate it
Thanks! I will keep the business side in mind and try to build a few videos based around the business building skills.
Thank you for taking the time to explain everything in detail. Wish you all the best.
Glad I could help. Thank you for watching 👍
Thanks for the video! I'll be making some cutting board conditioner soon. And great information at the end of the video - it's something I struggle with in deciding how much to charge for some of the items I make. I seem to always undervalue my work.
Thanks! I appreciate it! Stay tuned, in the coming months I will have a video showing how to price any work with more detail to the process.
Thank you it was a great video I like the bonus material at the end take care keep building
You bet! Thanks for watching! 👍
You've got a new subscriber! Great job!
Thank you! I appreciate it! 👍
What's the best wood for cutting boards. Thanks for your very informative videos
Thanks for watching! I like to use walnut, cherry and Maple for cutting boards but really anything that doesn't have a huge open grain will work great. I tend to avoid ash and oak because of its big open grain. I wouldn't use anything too soft like Pine or Poplar because it will leave knife cut marks.
Great video. Loved the presentation and information. Keep it up!
Thank you! I will keep making videos and you keep watching! 😉 I appreciate you watching!
Thanks for the video! I want to start making cutting boards so this would be a great addition!
It's a good idea to give a tin with your boards and let them know they can always get more from you when they need it.
Love it! Thanks
Thanks! I appreciate you watching 👍
Great video! I’ve been doing cutting boards for a while now. I’ve been wanting to make my own board butter/ conditioner for a long time. Now I can! Thanks so much! May your business continue to grow and succeed!
Thank you! 👍 Have fun making some cutting board conditioner!
Thank you. Im going to follow this formula.
You are welcome! Thank you for watching 👍 Let me know how it turns out.
Thanks for the great video.
Thanks for watching 👍
Your project is fantastic; wonderful. Very good video. At least it will take into account that good idea; but you must be careful not to steal your wife's kitchen utensils. In the end she will notice and I don't want to think about it. Ha, hahaha.THanks Two Elm Buils.
Thank you! I really appreciate it!
Great video, and thanks for the tips at the end. I've been puttering around with wood working for a few years, but am now getting more serious. I wanna grow my business. Im starting to earn capital by making a few products of different types and taking them to craft fairs and small local shops that sell home décor things. That way I can put a few bucks into getting more of the tools and supplies I need to make more stuff. I plan on having an Esty store at some point.
Good info. The only suggestion that I would make is to factor in a few more overhead costs to a product. Building utilities (IE: electric, gas, water) do not come free of charge. Neither does insurance on the building/shop. What about yearly taxes that have to be paid and other hidden fees? Shouldn't these costs be broken down to a daily or hourly overhead cost and added back to the total cost of the product? BUT! Do not get outrageous with the final selling price!
Without going detail, I can tell you APPROXIMATELY what it cost me per hour once I unlock that door and turn on the lights.
My point is ... Do not "short change" yourself & DO NOT take advantage of the customer!
Thanks!
Thanks for the lesson.
Thanks for watching! I appreciate it
I just made a simple Charcuterie board, 10" x 14", I used this recipe for the finish, I do however put a liberal coat of straight mineral oil on my projects and let it soak in first. That way it penetrates deep into the wood for better and longer protection. I was thinking of charging around $60 for it. Seems kind of low according to the info you provided, I'm just worried that if I charge more it'll just sit on my shelf and not get sold. Thoughts?
Jason, that is awesome! I love seeing people succeed! Come up with a good plan and stuck with it. If you want more information on pricing, I do have a video all about how to price your work, both wholesale and retail pricing. If I can help with any questions, just hit me up! GO BE GREAT! and thanks for watching 👍
How do you store them. It gets hot where I am. Thanks, great video!
I haven't had any issue with this. Myself because I store them in my office. If I didn't have somewhere cool to store them, I think I would keep them in the refrigerator. Don't freeze them though, I don't think it would have good results. If you find a better answer, let me know. Best case scenario is to sell them right away 😜
How long does the wax last? Such as expiration time.
Good question, beeswax will not go rancid and it would take years for the mineral oil to oxidize and go bad. So, it is doubtful you need to worry about an expiration time. If you have an older tin if conditioner and it has a bad odor, I would just throw it out to be safe.
@@twoelmbuildscan you use this wax to recondition a board that was originally finished with tung oil?
@@josephjohnson6229 I would say you could, as long as the tung oil is fully cured. If it isn'tcured, the oils aren't going to work well together. I wouldn't put tung oil over mineral oil because the mineral oil will never cure under that Tung oil. But mineral oil over cured tung oil should be fine.
Fabulous! TY
Thanks! I appreciate you watching 👍
How much do you sell your cutting boards for? Pete
It really depends on the size and the species they are made with. Also, I do alot of personalization with my laser and with inlays. If it were just a simple edge grain walnut board maybe 12" x 18" (ish), I would look to be in the $120-$150 range depending on thickness, but again, too many factors to make a definitive answer. I have sold larger personalized boards in the $250 range. Each client is different and each project is different.
@@twoelmbuilds thanks for the info,and the bee's wax recipe .
@@petecreats9280 No problem! Thanks for watching 👍
Can I use paraffin wax instead?
I know that paraffin wax is definitely food safe, but I have never used it in this application. I would be willing to bet it would solidify a little firmer than the beeswax. Couldn't hurt to try it. Let us know if you do. 👍
am I wrong...or was that a 100% markup? Keystone is doubling your cost (or wholesale price, if you're buying from a wholesale vendor). You doubled your cost so your markup was 100% of the cost of your product...not half of it (which would have been a 50% markup). Yes, your profit margin is 50% (that's Keystone) but your "markup" to get there was 100%. Small potatoes! Great vid!
You are correct, I missed the wording and used markup and margin through out. I was after increasing Margin. I was trying to keep it simple for everyone to understand and complicated it in the process. 😂 I think the main idea was conveyed? Hopefully. Thanks for watching and helping! I appreciate it! 👍
@@twoelmbuilds you conveyed it perfectly and super easy for everyone to understand! Sorry - wasn't trying to be a 'know it all', but thought it may help for a future vid if you use that slide again as "Small Business Markup = 50%" was pretty much the bold heading of the slide. Subscribed!
If your markup is 50%, your profit is 25%. Doubling your cost is a 100% markup, which yields a 50% profit.
He did the math right. If the markup is 50% of the total value, it means he has to double the value. In other words (your words) the costs need to be increased by 100%, which is the same 😂
Isn't that 100 percent profit? It was 100 percent more than it cost you in time and materials. 50 percent would be 100 percent of what it cost plus another half. So, 150 percent or 1.5 times... though 8 bucks still seems like a fair price. What's going on with my math? Feeling dumb here. I just made some of this today for a project. Thanks for the video.
You are right, it just depends on how you look at it. Of the total amount, half goes to materials/time and half is profit. So it is called a 50% margin.
@@twoelmbuilds ah, that makes sense. Thanks 👍
A 50% markup on $3.84 is $1.92, for a total sale price of $5.76. If you charge $7.68 it is a 100% markup.
That is true! But markup and margin are two different calculations. A 50% margin is $7.68. A 50% markup is $5.76. Just a confusion of terms. The keystone markup system works on a 50% profit margin and 100% markup. If I mis-spoke that in the video I apologize for the confusion it caused. You are very right with your response!
$3.84 to $7.68 is NOT a 50% mark up. it is a 100% mark up!
You are correct that it is a 100% markup, but it is also a 50% Profit Margin. Two different things. I know I didn't nail it in the explanation perfectly, but I think it hit the numbers for most to understand. Thanks for watching! Appreciate the comment!