Currently, all spheres of small businesses are developing very actively. In the past few years, the furniture business is considered to be particularly profitable. Maybe you also wanted to be a part of it? If you are an entrepreneur who wants to be engaged in the production and sale of furniture – you must have basic knowledge, concepts, and little experience in this field. Happiness and patience are not the only ingredients of your success in this business. However, here are tips on how to start a furniture business in 5 easy steps.
Furniture As A Lucrative Business
Although the coronavirus pandemic is not over – we still have to work. However, many people have lost their jobs due to these circumstances, and many of them are considering starting their own business. One of the ideas that proved to be very lucrative – is the production and sale of furniture. If home decoration is your strong point and if you are looking for a lucrative business idea – consider opening a furniture salon, with a solid business plan. With a real entrepreneurial spirit and quite a high investment – you can learn how to open a furniture salon and include pieces of furniture that you like, but that will also attract your customers.
Do you have Experiences? Your Chances Are Good!
If you are a carpenter and produce furniture, you can exhibit your work in the salon. If you just have a good eye for quality furniture – you can include in your offer furniture that suits the environment in which your salon is located, as well as your clients. For starters, you need funding for space for your salon and initial furniture supplies. This is probably the most demanding part of starting this business, because the location of the salon determines your offer, and therefore how successful you will be.
Are You Into Handmade Furniture?
If you like handmade furniture, you must find space for a salon in an environment that can accompany this type of furniture and its price. Then you have to supply your salon with the furniture and make catalogs for your clients – and you must always have all the items in stock if someone decides to buy just that piece of furniture. The delivery of the furniture requires a transport vehicle and a driver – as well as manual workers who will transport the furniture, and all these costs must be charged. Depending on the opening hours of your salon, you can also hire staff to work in it when you are unable.
How To Start A Furniture Business In 5 Easy Steps
1. Furniture business that includes production: purchase of equipment
If you produce furniture, and you are not only engaged in sales – then this will require certain investments, primarily in the location of the factory and production equipment. Of course, there is manpower you have to pay for as well. It can be very expensive. Let’s assume that you will not be engaged in large-scale mass production of furniture – but that your company is a small manufactory.
In that case, you still have equipment costs. However, make sure that the equipment you buy is the one you really need – because most other machines that you do not use often, you can rent. In this way, you will at least partially reduce costs – although even these larger investments pay off in a relatively short time. After all, everyone needs furniture, right?
2. Sales space and website
The location of your furniture salon is very important – especially if it is a special niche for furniture that you sell. The salon must look decent, spacious – and the furniture in the salon mustn’t be crowded like it’s in a warehouse. It’s also a pretty expensive option, but it brings customers right in front of you. And when customers enter your salon, you can tell that half the work is already done. The rest is up to capable sellers. According to HDS, you can also consider the possibility of selling furniture online.
Those can be some trendy pieces, or you can opt for mass production. You can start online sales either as an addition to your salon – or as the only form of sale. This last option eliminates the need for exhibition space and stocks of goods – because you can deliver the goods directly from the warehouse. There are many different options when it comes to a job like this, as well as many details that you have to decide on, but this job can be extremely profitable if you love what you do.
3. Furniture and warehouse stocks
When you produce or sell furniture, it is assumed that it is available in a larger number of copies – unless it is unique furniture. Stocks must exist – specifically for items that you know are the most sought after and most popular among customers. On the other hand, storage is very important because you will store all the furniture from the production that is ready for sale. Some models need to be assembled and exhibited – and many of them will soon find their place in customers’ homes.
4. Know the furniture you are selling
Of course, this goes without saying. Whether you have hired a capable salesperson for this job, or you personally want to get involved in sales – you need to know your own range well. This means that you must be able to explain everything to the customer – from the price to the features of the furniture he is interested in. What is it made of? Is there a mechanism? Does it disassemble or assemble? What is the furniture texture like and can it be easily maintained? All this and much more interested buyers will ask you. Therefore, if you want to do this business successfully – you need to know every detail about every piece of furniture in your salon.
5. Transport truck and manual workers
If you have decided to have a professional furniture salon, you cannot do it without this item. Even if you only have online furniture sales – you still need to take care of delivery. The delivery of the furniture requires a transport vehicle and a driver – as well as manual workers who will transport the furniture, and all these costs must be charged. Depending on the opening hours of your salon, you can also hire staff to work in it when you are unable.
