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Los Angeles vs Las Vegas!5/28
I have been wanting to start a small shop since a while now. I will probably have to keep working somewhere else until my shop leaves enough earnings. I recently got a job offer not related to woodworking to relocate in Vegas. Still my main goal is to start my shop so I would like to hear some input as to where is a better place to start a small shop. Considering Vegas is way smaller than the Los Angeles metropolitan, where would be a better option? Also, I currently have 40k for my shop.
I have a small shop in Vegas. Only from what I have read there are far less regulations, taxes and we can spray solvent finishes as well. I would talk to equipment dealers and other shop owners( take them to lunch). Much better then guessing. Good info can really open your eyes.
CITY-STATE LOS ANGELES
Once called “an island on the land,” Southern California remains distinct from the rest of the country. Long a lure for migrants, it has slipped in recent decades, losing not only population to other areas but whole industries and major corporations. Once youthful, it is experiencing among the most rapid declines in its under-15 population of any metropolitan area in the nation. Yet it retains America’s top port, the lion’s share of the entertainment business, the largest garment district — and the best climate in North America.
The thing about the cabinet business is that it depends on housing being sold. The thing about housing being sold is it depends on jobs. As you can see LA is not exactly pro jobs.
In their March 2014 report, UCLA Anderson Forecast noted that “L.A. [County] has gone 23 years without positive job growth.” From December 1990 to December 2013, this report showed Los Angeles County was one of only two metropolitan areas in the US to show a decline in its job base, losing 3.1% of Nonfarm Wage & Salary Jobs over this period.
In the next thirty years, California will experience explosive growth in its population of retirement-age residents, according to a new analysis by the Public Policy Institute of California (PPIC). This aging population could create fiscal challenges for state and local governments in California, which provide many services to older residents.
In Graying in the Golden State: Demographic and Economic Trends of Older Californians, authors Sonya Tafoya and Hans Johnson report that by 2030, one in every three Californians will be over the age of 50, and the proportion of those over 65 will have increased to 17 percent from 11 percent in 1998. "In total numbers, the population of people over 65 in California will grow from 3.6 million to 8.9 million," says Johnson, a research fellow and demographer at PPIC. "The aging baby boomer generation and longer life expectancies among the elderly will contribute to this surge in the older population."
The thing about customers is that once they reach the age of 60 they quit buying anything.
IMO since 33% of the welfare in the US goes to Calif that has 12% of the population.
This means that when the SHTF you may need a delivery truck equipped with a M-134.
OTOH if you go into the safe room business it may be very good?
Otherwise you may want to rethink the LA part of your business plan.
They were just about giving away houses in Las Vegas a couple years ago. Has that changed?
When I was in my early 20's I was a hard working amatuer cabinetmaker. I also did some traveling which landed me in San Diego for awhile. I just wanted a small shop somewhere so I could pursue my hobby. What I found were ASTRONOMICAL rents for everything. There was no way a young kid was going to be able to rent a commercial space there so I left. Went to VA where I had family and rented a 500SF commercially zoned garage bay for $235. Later on I found that there just wasn't enough money in the town to support another cabinetmaker But man was S*%$ cheap.
"California Has Highest Rate Of Poverty In The Nation, According To U.S. Census Bureau"
"California students score at bottom of nation in reading, math"
"California named worst state for business in magazine survey"
"California Highways Among Worst in US, Study Finds"
"California Ranks 48th Of 50 States For Tax Climate"
"California Leads in Income Inequality"
Im in northern California i could do without the politics but I love it here. Business is very good,lots of people with money to spend.
If you're thinking Las Vegas, you might consider exhibit fabrication instead of cabinets. Similar skill set with the addition of graphic production and some other elements. Very much a growth industry in LV.