Page 6 - CMA PROfiles Spring 2015

FROM THE EXECUTIVE DIRECTOR’S DESK

What it Takes to Earn $100K as a Custom Woodworker

by Dave Grulke, CMA Executive Director • 86.1% operate from a single facility, and those facilities are
mong the findings in the 2015 CMA Benchmark Study under 10,000 square feet for 52.8% of the respondents.
were answers that shed light on what it takes to earn • 80.5% are CNC equipped with 72.4% having CNC for 7 years or
A six figures as a shop owner in the custom woodwork- longer.
ing business. Here are a few highlights from the study’s • 79.4% report shop rates of $65 per hour or more.
preliminary results: • 68.4% report having from 4 – 20 full-time employees and 70.4%
• Over three dozen shop owners and senior managers of the report annual sales between $500K and $2.5 million.
300+ survey respondents reported personal incomes over • Components making up their total compensation are Regular or
$90,000 per year. Variable Salary (86.1%) Profit or Dividend Distribution (41.7%)
• They represent shops from nearly every region in the U.S. and Owner’s Draw (38.9%).
and Canada. • They provide health benefits for themselves (63.8%) and for their employ-
• The top three customer types they serve are Home Owners (55.6%), Home ees (61.1%).
Builders and Residential Remodeling Contractors (52.8%) and General • They spend up to 20% of their gross revenue on sales and marketing
Commercial and Institutional Contractors (41.7%). (91.4%).
• The top three services they provide are Manufacturing of Cabinets (97.2%), Where do you fit? CMA members can obtain a complimentary copy
Installation of Cabinets/Architectural Millwork/Closet and Storage Systems of the full version of the 2015 CMA Benchmark Study Report, a
(86.1%) and Manufacturing of Closet and Storage Systems (50.0%). $39.95 value. To order your copy, log into the members-only forum
• They serve every type of area from rural to major cities, with 69.4% serv- and see the details in the General Discussion section, or contact the
ing a radius of 100 square miles or less. CMA office for details on how to get your copy. ❖

6 PROFILES • Volume 15 • Issue 2, 2015 • www.cabinetmakers.org