Decide what kind of furniture store you want to open. Remember that for each type of furniture, including antique, modern, design, retro, industrial and used, you'll need a reliable supply line and customers.
Research the competition in your area. Find out what types of furniture they sell and what their prices are to determine whether there's a market for the products you plan to sell.
Construct a sound business plan. Calculate the costs of a venue, furnishings, equipment, inventory, and delivery trucks. Budget for an ongoing marketing plan that includes street advertising, print advertising, television and radio ads, and online advertising with social media. Remember to include the cost of accounting, taxes, business loans, licenses, and employees. Make a conservative estimate of your returns. Include the possibility of opening an online furniture store to complement your sales.
Raise the necessary starting capital. Explain your business plan to your bank or a private investor and show them how your furniture store is a good investment. Have a lawyer review your investment contract before you sign it to make sure you understand all of the terms.
Obtain all necessary permits from the city.
Choose the right location for your furniture store. You'll want a venue with a lot of square footage, as well as sufficient traffic to attract customers.
Buy all necessary equipment to run your business and furnish your furniture store. You'll want to have a good selection of furniture, and you'll need at least one delivery truck to get your customers' purchases to them.
Interview and hire employees.
Advertise your furniture store.
Open your furniture store.
Comments
0 comment