A regional marketplace for woodworking professionals

Wood Pro Expo Lancaster Education Sessions 

 

Woodworking Network, co-manager of Wood Pro Expo Lancaster, and the Cabinet Makers Association collaborated to produce the following agenda.

8:00 a.m. – 9:00 a.m.  Free Keynote -- Financial Decisions: From Confusion to Confidence 

According to Miller, "not understanding your business numbers can lead to confusion and uncertainty, especially when you need to make a financial decision."  Miller will explain some fundamentals of business finance that every business owner should know. He stresses the importance of knowing your breakeven point and how to maximize your profits with full capacity. Miller has more than 20 years of experience in retail sales and customer service and works with his clients to better understand what the numbers are telling them about their company. His goal is to assist them in achieving greater profitability with less stress as they manage their business. 

 

10:00 a.m. – 11:00 a.m.  Session 1 -- Understanding your Profit & Loss Statement

Ken Kumph, president, Premier Builders (Georgetown, MA)  

According to Kumph, most entrepreneurs start companies because they are passionate about the primary work of the business – which usually isn’t accounting. This means that most entrepreneurs aren’t completely comfortable interpreting the monthly financial reports they receive.
If you have been filing your Profit and Loss statements away without reading them, you are not alone. Many entrepreneurs never look at their profit and loss statements because they do not understand them. However, understanding your P+L is essential to being able to run your business successfully.
Kumph will share the fundamentals to help you with this important financial tool.

 

11:00 a.m. – Noon  Session 2 -- Survival of the Fittest: An honest look at what it takes to successfully run a small shop

Chris has a long history of working with wood, beginning when he was very young. His father, a Union Carpenter in New York, introduced him to the craft; he has continued to build his skills over the years. While pursuing his college education, Chris worked in residential and commercial renovation for high-end homes in Manhattan and surrounding areas in New York. An Electrical Engineer by degree, Chris left the semi-conductor industry to pursue his passion for building beautiful works with his hands.
 

 

8:00 a.m. – 9:00 a.m.  Free Keynote -- Solving the Pricing Puzzle

During his presentation, Sampson will share the highlights and his personal insights of FDMC's annual Pricing Survey. He’ll examine what various shops charge for the same work, the fundamentals of pricing custom work, and common pitfalls to avoid in the estimating process. The annual FDMC Pricing Survey is the only tool that compares pricing for custom woodworking and cabinetry in the industry. Real shops provide bidding specifications for real jobs, and shops across North America submit bids to show how they would price the same jobs.

 

10:00 a.m. – 11:00 a.m.  Session 3 -- Finishing Technology Update

Explore the latest in wood finishing. A popular return presenter at Wood Pro Expo Lancaster, Smith will discuss the newest wood finishing technologies, including powder coating. Engaging with manufacturers, product designers, and industry associations, Les draws upon his industry knowledge to influence product development and business development to better serve the industrial wood market.

 

 

11:00 a.m. – Noon  Session 4 -- Taking the Leap: Investing in Machinery

In this session, Wehner will talk about how he has taken the leap by investing in $50-$250k machines. He will share what he's learned, what he wishes he had known, and what he'd do differently the next time. This presentation will cover the entire purchasing process from selection through set-up by explaining the surprises that come with integrating a big machine into your shop.