Turn Wood Into Gold
Throughout history, alchemists have been desperate the find the philosopher’s stone that could turn lead into gold and make them rich. They toiled in their laboratories for centuries in the hope of producing the mythical philosopher’s stone. According to historians, the description of pseudoscientists dreaming of manipulating the elements isn’t accurate. Alchemists were, in fact, precursors of today’s scientists; they developed countless experimental techniques that have paved the way to modern-day chemistry and medicine. But, let’s head back to the philosopher’s stone that haunts alchemists’ stories: Is there such a thing? The truth is that, if science can’t yet answer the question, finance can. There is such a philosop^^er’s stone, but this one turns wood into gold.
Make it a side business
Wood is one of the most common materials in our homes, and therefore, it has the advantage to offer a profitable side hustle opportunity to crafty woodworkers. Indeed, despite the popularity of IKEA plywood shelves and tables, more and more homeowners are looking for the real thing. They are willing to pay more to buy unique, elegant and custom-made items. As a newcomer to the market, you need to develop your differentiating factors early to stand out from your competition. You will find it helpful to focus on a narrow niche, such as a type of furniture or design, rather than trying to compete on a broad scale. As for the bits and bits you end up not using, you can get in touch with your local wood waste recycling centre to give them a second life. Doing this allows you to build an environmentally-friendly and profitable side hustle, which can only boost orders!
Why buy new when you can upcycle?
There is a lot of value in your old furniture. Indeed, you could save a tonne of money by upcycling some of your tired-looking units to turn them into something new and exciting. A fresh coat of paint can dramatically transform an old dresser. If you’re handy with tools, you can transform an old bed frame into a cosy bench, for instance. In short, you’d be surprised to find out how much value you could inject in your old items.
Invest in lumber stocks
Lumber prices have been steading climbing for the previous decade. However, in 2018, the housing market showed signs of slowing down, which immediately affecting the lumber prices. Some stocks drop over 20% of their value. However, once the first panicked investors have rushed to sell, the lumber stocks market has become an attractive investment again. Pay close attention to mergers, such as Potlatch and Deltic Timber, which can prove profitable in the long term.
Make money grow on trees
Last but not least, what would you say if you were told money grows on trees? Don’t brush it off with a smile; money genuinely grows on trees, more specifically on one tree, the Malabar Chestnut. Indeed, the Malabar Chestnut, also called the Money tree, is a popular interior decor plant. Easy to maintain and pleasant to look at, it’s the perfect plant for office spaces and homes. Offering the product in various sizes can be a profitable business.
Alchemists might not have found the way to turn lead into gold, but you can offer an alternative by turning wood into wealth. Whether you’re buying stocks, selling specialist houseplants or making furniture, there is a lot more in wood that first meets the eye.
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