HOW TO START A FURNITURE BUSINESS
Wood is used for many purposes and one amongst them is for furniture. Furniture is movable objects that are intended to support many activities performed by humans such as seating (chairs, stool, sofas), sleeping (beds), eating (tables), etc. The history of furniture is long and goes back to 3200BCE in Egypt, where the first furniture designs developed significantly along with the art. We have come a long way but our basic needs are the same. We need a bed to lie on, a chair to sit on, and so on. With time and according to comfort, space, and availability of raw material, various changes have taken place in the designs of furniture and for that, today’s world demands people to invest more in the Furniture business. Whenever a person buys or builds their home, they are most excited about the interior and decorations. Furniture not only fulfills the basic needs but also works as a medium of decoration and beautification of the house. People are ready to pay any amount to get the best quality and best-looking furniture.
The furniture today is available in different materials such a wood, metal, plastics, or the combination of all, and because this the variety and versatility have also increased. Of all, still, the most famous type of furniture is wood furniture. The process of making furniture is long as it involves cutting, bending, molding, laminating, and assembly of such materials as wood, metal, glass, plastics, and rattan. That’s not all after doing all the hard work, still, almost 50% of the work is left, that is selling the product and here is when the business opens up and the opportunity to earn profit arrives.
Let’s have a look at How you can start a furniture business:
Create a Plan
Decide beforehand what kind of Furniture business you want to open. Is it just a retail shop or you’ll have in-house manufacturing of furniture? If you are manufacturing, you need to understand it is not an easy task and requires a good understanding of the skill and creativity behind it. You will have to hire professionals and the scale of your business will be bigger. With that decide what will be your reach. If you want an offline store or an online store? If it is an offline store how big of a space you are expecting to have and will also hand out deliveries. And if it is an online store, what storage area you are going to keep your goods in, and what will be your area of service.
Make a plan for what is going to be the size of your business at first. The growth will only follow if you thrive in the market and the furniture business needs investment and time. One should always be ready for bad days and thus also take care of the amount that is produced daily.
Do your research
The furniture business is not an easy venture to open. You have to do a lot of research about how the market functions and what is the demand and supply chain in this business. The furniture business requires maintenance from pests and mites even when they are at your warehouse so know the science of how to manage them wisely so that none of your product is wasted. If you are manufacturing furniture be aware of the kinds of wood that you are going to use to make your product. Take care of all the safety measures and rules and regulations which are set up by the government.
Take Permits and License
To start any business in India, you need to have legal permission sorted beforehand to avoid any hassles with government officials. You’ll need to get yourself registered as a business person, get your GST registration, and all sorts of licenses and permits are done. Make sure you are ready with all the paperwork and to take multiple rounds of government offices because opening any business in India calls for this.
Have the right distributor
Make sure you have a distributor who can easily make you available with the supply whenever you demand them and have access to the modern and classic designs of furniture that are changing with trends in the market.
If you are manufacturing your product, have a distributor who can supply you with the raw material of good quality and variety.
To have a successful furniture business, you should know that customers should not go empty-handed so go for diversity in your products.
Be vary of Competition and choose the right Location
The location of your furniture business matters a lot. Try to keep your shop away from a place where there are already several stores available. Open a store in a densely populated area so even if there are competitors around, you will always have people buying from you. Buy or rent a space that is big enough where you can store your items carefully and systematically.
Opening a store in a small town where there are already many manufacturers or furniture distributors makes no sense. So, look for a place where you can stand out and be highlighted. You can also opt to have your furniture business set up near roads where many automobiles can locate you.
Setting up any business at requires a strong local connection and communication so that the business can propagate but with the rise in the use of e-commerce, things have become a lot easier. Make a website for your furniture business and set delivery boundaries according to yourself. Arrange your products in different categories and use various models and tools which are available online to make your website catchier and more attractive.
Focus on Marketing
Make use of social media as it is almost certain that at least one person in your locality must be using any social media platform. Putting up pages on Facebook and Instagram and asking youth in youth in the locality to share it amongst friends, developing a strong SEO, and investing in marketing offline can bring great audience attraction to your new automobile accessory business. Putting up ads with discounts and amazing offers are always a plus. Along with online, spending on offline methods to propagate business is necessary. Go old school and hand our pamphlet whenever a customer arrives. Since you have an offline store and most customers will save your number for future reference, you can invest in WhatsApp Business and use its marketing tools to propagate your business. It is convenient to use and digitally provides a personal touch as the medium is one to one messaging which has become one of the best provisions of converting prospects to customers. Remember to greet them nicely and make them feel important.
Starting a furniture business takes a good amount of planning. If you want your new business to succeed, understand the risks that come with entrepreneurship. It often takes a few years to get a business off the ground even with the best-laid business plan and advanced marketing. To open any business, one should be ready to work hard and show a lot of perseverance and determination. Any business will have good and bad days but it depends on the owner how they want to go about it. All the best!