How to Run a Successful Furniture Retail Store

Knowing your target market and selling quality products is the key to success as a furniture store owner. The price should be competitive and attractive to your customer demography.
Although the business is highly competitive and lucrative very few stores succeed. To beat the competition offer discounts, home delivery and other added value services. The business requires huge start-up funding because inventory, logistic and rent in good location is expensive.

Types of Furniture
Make sure your stores inventory is made up of quality products. There is a whole range of items to showcase.
You have different types based on manufacture style. Common designs are the traditional, rustic, shabby cheap and vintage.
Others include contemporary, modern, retro and art décor. Traditional pieces are elegant, timeless and simply elegant.
Antique are usually wood while vintage exhibit quality and detail. Rustic are timber manufactured items from materials such as linen, timber and cotton cloth. They present a cozy comfortable look to any home.
Traditional furniture feature straight lines while modern ones are rigid pieces made from stainless steel, plastic or leather. Contemporary products features geometric shapes, silhouettes and curved lines.
  • Traditional furniture
  • Rustic
  • Shabby cheap
  • Vintage
  • Contemporary
  • Modern
  • Retro
  • Art décor.
furniture maker
Common Furniture
Make sure you choose common products to increase the chances of quicker sales. Stock dinning room sets, bedroom and kitchen furniture. Other highly sorts after ones are office furniture, living room, cabinets and shelves.
  • Dinning room sets
  • Bedroom
  • Kitchen furniture
  • Office Furniture
  • living room furniture
  • Cabinets
  • Shelves.
List of Items in Furniture Stores
Furniture stores have a huge inventory of items. Some common items found in stores are stools, chairs, tables couch and recliners.
More include settee, different beds such as bunk, canopy, four poster and infant beds. You have billiard tables, dining tables, cupboards, bathroom cabinets.
  • Recliners
  • Stools
  • Chairs
  • Tables
  • Couch
  • Settee
  • Different types of beds
  • Dining tables
  • Cupboards
  • Bathroom cabinets.
Common Materials used in Furniture
 Common materials used in making furniture are glass, bamboo, concrete, plastic, rattan and metal. Others include stainless steel, wood, wicker and Blackwood.
  • Glass
  • Bamboo
  • Concrete
  • Plastic
  • Rattan
  • Metal
  • Stainless steel
  • Wood
  • Wicker
  • Blackwood
Furniture Store Legalities
Incorporate the business into a legal entity by going to your countries corporate affairs commission. Register the business as a limited liability company.
If you manufacture your own furniture you can patent the design. You need to consider shipping and logistic. Are you using independent contractors or hired employees?
You also need insurance cover, customer legalities and employer policies. Get an employer tax identification number and value added tax. Manufacturers need factory authorization to manufacture the furniture.
Steps to Start a Furniture Business
You need to decide on the type of furniture you want to sell. Then write a business plan and carry out a feasibility study.
The plan should cover startup costs, inventory, study competitors, rent and marketing.  Choose a good location, hire employees, select or manufacture the product and advertise the store.
  • Write a business plan
  • Carry out a feasibility study
  • Startup costs
  • Buy inventory
  • Study competitors
  • Rent space
  • Marketing.
  • Choose a good location
  • Hire employees
  • Select or manufacture the furniture
  • Advertise the store.
Business Plan
Write a furniture retail store business plan. Your plan should include executive summary, business description and map out your marketing strategy. Other provisions are management, promotional, financials, liabilities and future goals.
How to Compete Favorably
To compete favorable sell quality items and use an effective marketing strategy. Then offer your customers competitive prices and handpick your sales team. You need good customer service and include home delivery.
Marketing
Retail marketing is tough and you face lots of competition. Small business owners need some form of marketing to attract patronage.
You could start with a promotional event  and perfect your customer service. Offer your regulars, special discounts and follow up with your customer contact.
Use traditional advertisement such as flyers, billboards, sign boards and business cards. Build a website and sell your items online.
Leverage on the popularity of social media and try blogging. Choose a good store name and create a brand name and identity. You need lots of networking and don’t forget to reward loyal customers.
  • Organize promotional events
  • Customer service
  • Offer special discounts
  • Follow up with your customers and contacts
  • Use traditional advertisement
  • Build a website
  • leverage on the popularity of social media
  • Choose a good store name
  • Create a brand name and identity
  • Network
  • Reward loyal customers.




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