If you have a passion and love for furniture, then have you thought about starting a furniture-related business? Starting a restoration and resale business could allow you to buy those pieces you love, and breathe new life into them for others to enjoy. Starting a new business can feel daunting at first, but to break down the process a little bit, here are some things you may wish to consider.
Deciding What You Want to Sell
First of all, you want to decide what you want to sell, because if you do not, you will struggle to break into the industry. For instance, do you want to focus on selling those smaller items of furniture? Or, would you prefer to sell furniture that is specific to a room type, e.g. selling sofas and living room furniture? Or, selling beds and wardrobes, and other items you would find in a bedroom? Do you want to sell items that you enjoy looking at and purchasing, or are you purely and solely focused on making a profit? If you are not passionate about those items that you sell, then you will struggle to get other people (buyers) to buy into your idea and business.
Startup Costs and Storage
Now that you have a clearer vision about what you want to sell and why, you then have to look at where you will store items, and what your startup costs will be. To establish a startup budget, and get to grips with the financial side of your business, you must look at where you will be basing the business from. For instance, do you want to run a business from home?If so, startup costs will be cheaper, but marketing costs will be more. Or, would you prefer to have a physical location, such as a store in a high street or shopping mall?
Buying Antique Furniture
You may want to purchase items of furniture that you can upcycle and then resell. Or, you may wish to look at purchasing antique items of furniture with a view to selling on. There are advantages of buying antique furniture, such as antiques,often increase in value, whereas other lines of furniture may not. When you are looking at buying antique furniture, you may need a bigger budget to cover startup costs. You may also need more secure storage to store your new pieces, especially if they are rare or costly.
Where to Advertise
To make money from furniture, and to shift the stock that you have, you are going to need to advertise online. Even if all of your buyers are not online, you must still spread the word with online advertising and campaigns. When you are looking at where to advertise, always think about who your target market is. Plus, think about how responsive they may be to your advertisements. Make sure that any online or offline advertising you do meets their expectations, and ensure that your advertisements get you a good return on your investment.