I finally got around to building my target stand this summer. I took the advice of some of the people replying here and made it mostly out of things I had or could get for free. I picked up the pallets for free, the four corner posts I made by cutting in half two doors I had taken off of an old shed, and the metal roofing I already had lying around. The only things I bought were five 5' long 2x4s that I bought cheap on Facebook (they came from disassembled pallets) and the rubberized screw-in hook that added to hang my bow from. I also placed a few patio blocks I had to put under the base of the stand to help keep it off the ground and hopefully keep things from rotting (since I went cheap and didn't use treated lumber).
It took me an afternoon to assemble and cost me less than $15 to make. I'm super happy with it so far. The only thing I'm thinking of adding at this point is a couple of hay bales behind the target to help stop arrows in case I miss.
Also, you'll note that the target I'm using for now is a DIY target I made from carpet padding we were going to throw out after removing some old carpet. I cut a bunch of it into pieces, stacked them and compressed them between boards with threaded rods. I made target dots by spray painting dots on a piece of cardboard that I attach to the target with a few roofing nails. The target has done great at stopping my arrows, and it's significantly bigger than the commercial foam targets I was using previously.
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