Duh making it versus buying it that's What we're talking about today I'm Making this video so I can post it to All those folks that say this all the Time and I can make it cheaper it's just Such a Duh comment right because if you're Making something for yourself of course You can make it cheaper there's a huge Component that's not involved right There's no labor cost but that's just The tip of the iceberg today I want to Go through all the costs that go into Making something on your own just for Yourself versus hey well I made it for Myself now I want to make it for other Folks and then it transitions to Somebody like me right that manufactures Products that buys products to resell From manufacturers and There's a lot of stuff that's involved And so yeah I'm making this so I can I Can send that to some of those folks but Also this is kind of a business area of Discussion right and I like to make These videos too and and You know we'll run sales and folks are Like hey can I stack another discount on Top of this top discount and then so on And so forth and to a certain extent There's only so much profit to go around I mean most of what you see in a price Of a product is cost right there's not a Lot of room for margin in there so if

You sell something that's a thousand Dollars You're not making a thousand dollars Right if you sell something for three Grand you're not making three grand Margins are a lot skinnier than that and So there's only so much meat that's left On the bone all right so let's start With making it for yourself right and so I think Most folks out there although we get Some that say they can make it Themselves cheaper that that admit they Don't have the skill set to do it but You need to have the skills to be able To to Fab something up that's not going To fall apart to cut steel to put it Together right to to design it to fit Your your tractor your your loader your Three-point hitch all those skills there If you want to paint it right or powder Coat it but not just that in order to Use those skills you have to have the Tools the equipment to do it so you need To buy the plasma cutter the welder you Got to have a shop to do it in a garage Or a barn or something you need to have Consumables to to use as well so there's A lot of other costs that go in up front And maybe for that equipment you can Reuse it then on other pieces of Equipment down the road but nonetheless It's an investment it's a cost that's Associated with building that tool and

Then you have maybe the quality of the Features you know a little bit that goes Hand in hand I suppose and I take the Snow Pusher for example where Um and what spurred this video was a Recent comment that I can make a snow Pusher for for myself a lot cheaper than That and I'm thinking yeah there's a lot Of snow pushers out there that are just A really simple Basic design just flat walls like a like A box right just a flat plate in the Back a couple straight walls on the side And you're good to go and that's sure That's something that most folks could Do but This is this is roll this this back here Is rolled it's broke on many different Areas and so it's a complex piece of Machinery it's a double wall side plate That's on there this Back Drag is very Stout the whole thing is very Stout and So when somebody sees pictures or a Video online it's really hard to To tell how substantial a piece of Equipment is and so you may very easily Underestimate The steel thickness you know the the Structural support Um just the the wells that are required Everything that goes into it to get to The same level of quality and on that Note there's a lot of really good folks Out there a lot of you guys watching a

Lot of you on the forums too that are Making some awesome stuff in your shops At home and that is a skill set I do not Possess right but on the flip side There's skill sets that I have that you Don't possess so it's a good mix and Match there and If you have the ability to make a snow Pusher like this or a stump bucket or a Versa bracket or hitch hangers or Whatever the list goes on and on I mean More power to you however it comes a Time where you're thinking Hmm Maybe I've made a few things now maybe I could Make a a little business for myself here A little side hustle and grilled this Out now you have to account for all Sorts of other costs and it can kind of Take the fun out of it right because you Might be thinking boy there's a lot of Money to be made here but when you Really want to get legitimate and do it The right way Well I don't want to I don't want to break Your heart but let's go through it folks If you're watching this there's a good Chance you own a tractor and you're Going to need more attachments in the Future check out what we have to offer At goodworkstructors.com we sell and Ship all over the country every day of The week we are proud to be sponsored by Rim guard Solutions a liquid ballast

Weight it goes right inside your tires Completely hidden we're big on safety on This channel these tractors are just too Light and Tippy right out of the factory Not only is it going to help with safety Keeping those rear tires planted on the Ground it helps with loader efficiency And traction too the benefits of rim Guard include being the heaviest All-natural liquid ballast weight on the Market it's not going to corrode your Rims like the old calcium chloride it's Not going to freeze and it's available At over a thousand dealers Nationwide Find the dealer near you at Rimguardsolutions.com all right so for This I had I had so many things that I Jotted down I got to reference this so Number one we have insurance right we Have insurance for the business you know We have insurance for liability you know In case Somebody gets hurt was something that we Sold to them we have to make sure we're Protected you know the cost to set up an LLC so that you have a separate entity To protect your own personal assets from Your business assets there's a cost There labor cost is real now right Because maybe you start out being able To do it yourself but now you're trying To earn a living doing it and so your Hourly time invested or per minute However you want to do it has a cost

Associated to it that you need to roll Into the price there's some good things Too though I mean if you have a cell Phone that you can use for the business You can write that off but it's still a Cost internet utilities right if you Want to heat it AC lights Gas Propane whatever you need all those Are utilities that are associated now With the business losses right so that Could be theft that could be something Damaged during Transit you're shipping To customers and it's damaged that way Maybe it's damaged inbound to you and it Wasn't insured downtime right and think Of downtime as not going directly into Your product and so maybe you can call That something else but when you're Answering their phone talking to a Customer you're doing what I'm doing Right now even for my business my Business is selling tractor attachments And every second that I'm not answering Emails or on the phone with a customer It's time that's not directly Directly helping my business right these Videos hopefully help and promote it That's another cost right that's Marketing cost that goes into it too so You can Market through videos through Facebook through forums through your Website Google ads all sorts of Different ways to do that but those are Real costs that you need to factor in in

Order to let people know about your Product we're not all going to go viral You have little costs you don't even Think about right you have credit card Fees You have packing material fees if you're Going to ship right you've got shipping Costs that maybe you do exact shipping Costs maybe do like kind of a level Loaded shipping cost and you win Something you lose some you have quality Issues I know as much as we like to think about Ourselves we are human we're going to Make mistakes or we're going to hire Somebody and they're going to make Mistakes and so then the mistakes cost Even more at that point and sometimes You don't know the mistake until the Customer has it and then what do you do So there's a ton of different costs and Variables and factors that go into it And I guess from a business owner who's also A consumer right I'm on both sides of Defense here if you own a business You're also a consumer so you can see it Both ways and you understand the simple Statement of I can make it a lot cheaper And I think that can kind of get well it Does it gets irritating at times because It's like I don't know if like do they Realize yeah of course everybody knows You can make it cheaper by yourself

That's why there's a grocery store Versus restaurants right that's why There's Home Depot versus contractors That do things this kind of stuff's been Out there forever you know you can you Can do things yourself if you want to But you can also pay a premium and have Somebody else do it for you that's Been an argument to be made as long as We've been around and we haven't even Talked about maybe the most important Part of this all which is profit right You're doing this to make a living to Make money right and and if you're Working for peanuts that's no fun you're Gonna you're gonna get tired of it very Quickly so really as far as profit goes There is no one-size-fits-all answer on That but I think an easy way to Comprehend it is if you're going to sell Something for a thousand dollars and You're only going to make 20 bucks on it Well that's probably not worth your time Right if you can sell something for a Thousand dollars and make 150 or 200 Bucks on it then I think most of us Would agree Generally that's going to be worth our Time unless it was somehow super labor Intensive where we had to I don't know Work For two days or something just to make 150 bucks that wouldn't be worth it Right you know for me when I'm looking

At bringing on a new line and we've kind Of gone through everything else you know With features and quality and and Production and how however the business Is structured it really comes down to at That point if it passes the smell test Just from a profit standpoint right is Is it a competitive price that this Manufacturer can offer to me that I can Pass on to my customers you know and That's pretty easy right if it's if it's In the right range where everything else Is that's that's good to go but also the Profit margins need to be there because I have to account for these other costs And and if it's something that's going To be a thousand dollars or three grand And I'm making 50 bucks on it or even a Hundred dollars that's honestly not Enough because there's too much risk for Things to go wrong there for me to think That that's okay so I need to have a Higher margin on that so I can account For when things go wrong the the unknown And I think that's pretty easy to do so Roll up your costs Slap on your profit that you want to Make compared to everything else that's Out there on the market And does it pass a sniff test right does That okay yeah I can do that I'm Satisfied with that or that's pretty Marginal you know I don't think that's Worth my time and we've done that with

All sorts of products that we've looked To develop ourselves a lot of them just They're out in the field somewhere Rusting away because they're just not Worth our time it was a great idea but For one reason another it wasn't Feasible so next time you leave a Comment that says I can build it cheaper Just remember you don't value your time At all right you work for free and so That's a huge factor of it there You know give me some give me some Content you know give me some substance There of how you can build it cheaper Because obviously you do it yourself in Your garage you have the tools already I Would hope you could build it cheaper Right but you're comparing it against Something completely different it's Apples versus oranges but on that note If you do have that skill set to do so I Am slightly jealous of you because I Would love to learn those skills someday I just don't possess them myself but There's only so much time in the day who Knows maybe when things slow down kids Graduate it's just me and my wife I'll Have more time to do some new hobbies Now for those of you that aren't in the Section of I can make it myself well We'd love to help you out we selling the Ship tractor attachments all over the Country every day of the week check out Goodworks tractors.com to see what we

Have for sale and if you want to keep up With what we're doing around here make Sure you hit that subscribe button down Below it is completely free I want to Thank you for taking time out of your Day to stop by and until next time stay Safe we'll see you soon Foreign [Music] [Applause] [Music] [Applause] [Music]

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