How to Open a Furniture Store: A Quick Guide

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More than 600,000 people are going to take a step towards reaching their dreams by starting a business this year. Are you going to be one of them?

Entrepreneurship isn’t for everyone. It’s hard work, long days, and a contact string of failures. But ask any successful business owner and they will tell you that the process is worth it.

Ready to start your process? Then get ready to open your very first furniture store.

Don’t know how to open a furniture store? That’s exactly what this short and sweet guide is here for. Keep reading below to learn how to start a new company in the furniture industry this year.

 

Gain Experience

Before ever starting a business, it’s crucial to gain first-hand experience in the same line of work. If you want to open your own furniture store, it will be much easier if you have had a job in furniture before.

You’ll know what goes into ordering wholesale furniture. You’ll know how to organize and stock furniture, how to help customers choose and move furniture, and so much more. Even if it’s just a few months, working part-time, it’s a valuable education.

Write a Business Plan 

You can’t start a company without a plan. Your first step to start a business is to write out a thorough business plan.

This should describe everything regarding your business. Where will you be located, how big will your facility be, how will you raise the money to start the business? What types of furniture will you specialize in, and how will you market your store?

Everything needs to be thought through and written down from day one.

Brand Your Company

Before you can go too far, you’re going to need a brand. Branding includes your business name, logo, colors, and other design assets related to your company. It’s best to work with a branding specialist or graphic designer on this.

Get Legal and Insured

Before spending money on anything else, you’ll want to spend money to formalize your company. Form a legal entity, such as an LLC, to add a layer of protection between you and your company.

Also, get quotes on insurance policies and get those ready for your new building.

Raise Funds

It’s time to go out and raise some money. You can get a business loan, find investors, or borrow money from friends and family. You get bonus points if you can fund the project yourself.

Obtain Licenses and Permits

Before you can open for business, you need to have the local licenses and permits needed to conduct business in your city and state. Contact your local officials to determine what is needed before you can open your doors.

Stock Your Store 

Once you have a building and some capital, it’s time to purchase wholesale furniture and have it delivered to your facility. You can read more here about why and how to purchase wholesale furniture.

How to Open a Furniture Store; Commit to the Process

Once your furniture arrives, and you put it on the display room floor, you’re ready to prop those doors open and welcome your local community to your store.

Now that you know how to open a furniture store, it’s time to start the process yourself. While it can take a long time, it will be worth it once you get to that first sale.

Looking for more business tips like this? Visit our blog now to keep reading.

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