How to Start an Online Furniture Business
Selling furniture online has proved to be one of the most profitable niches within today’s ecommerce. The steady and continuous demand is powered by so many different actors in the market such as real estate industry, interior design, basic consumer demands, etc. On the other hand, the increasing development of new technologies, ecommerce channels, warehousing and logistic advancements have made it now easier than ever to start an online furniture business.
In this article, we will guide you through the process to start an online furniture business.
- Research your goal marketplace
- Approximating demand
- Sell goods in different sectors
- Find furniture suppliers
- Setting up online platforms like e-bay and amazon
- Advertising your shop
- Decide your selling price
Research your goal marketplace
If you are setting up a furniture business online, the first thing you need know about is your marketplace. Then finding the right furniture manufacturer you can start a furniture company online. Make your website eye-catchy. It attracts many customers throughout the world, also keeping in mind the domestic market.
Then comes the thing, what to sell for the home market? The first time house buyers need some certain furniture like beds, chairs, and dining tables, and so on. For them, price matters a lot. Someone who is looking to improve his or her dwelling room looks for good quality expensive furniture.
Supplying furniture on a large scale like for a public place, hotels, and hostel, the customer in this case wants large discounts.
You must check the need for your goods in a certain market. There is a high competition among rival shops. You have to sell unique furniture with good quality and if possible at a reasonable price. It maintains a long-term customer for your shop. Then import furniture for your shop.
What do your customers want?
The main thing to take in mind while setting up your furniture business is what your customers want. There is a great competition between a small independent business and a well-established business.
You should survey what your customers do not like about the existing furniture shop. Provide interior design services to your customers.
Sell goods in different sectors
For a furniture shop, there are major three types of customers for two different sectors:
- Contract sector
- Domestic sector
One of the most important customers is the one who buys items on a large scale. If you provide furniture for public spaces, like a restaurant, hospital, hotel, etc. your shop needs to have items like-
- Beds (bed frames, headboards)
- Chairs (Commode chairs, folding chairs, stacking chairs, etc.)
- Mirrors, glass, lamps, etc.
- Case goods (wardrobes, drawers, etc.)
- Stools, sofa, etc.
Different furniture stores pay attention to different sectors. Some simply one of these categories, some focus on a specific sector and some would possibly specialize further. You can import furniture from China.
What type of items you need to keep in your store depends upon the type of shop you want to run. High-quality furniture like high-quality wood, leather sofas, etc. can attract some customers.
For a domestic market the range of goods your shop needs are:
- Wardrobe, cloth hanger, bed
- Kitchen furniture like a dining table
- Study room furniture like study table, bookshelf, etc.
- Cushions, curtain blinds, tableware
Find furniture suppliers
After you decide what to sell, you need to find furniture suppliers. The very important thing is to find proper suppliers. You can import goods from other countries. Find a single supplier that provides you good quality goods at a suitable price. You mention what types of goods you want for your shop properly.
Buying products from a single supplier can save your money as they give you a discount when you buy on a large scale. It is good to import furniture from China.
Setting up online platforms like E-bay and Amazon
Small independent shops do not get recognition at the beginning. Therefore, setting up a high traffic platform like e-bay and Amazon would be the best option. For that, you can sign up in Amazon and e-bay, make an account and be a seller there.
How much does it cost?
Though Amazon and e-bay give you the option of selling as a business seller without paying a fixed monthly fee, it is good to choose a subscription-based package if you want to sell items on a large scale. The websites of these platforms give you guiding tools with different selling ideas.
Building your reputation
The most important thing to win the trust of buyers is through your online reputation. Make sure to respond to the queries of customers. Give a complete description of your items with important features. Make your items look attractive. The customers give you their feedback, which is very important for a new business. The top rating of the customers is necessary to keep your store’s profile good.
Advertising your furniture business
The quantity of the items you keep in your shop, a unique variety of goods is not enough if you cannot reach out to the customers. For domestic customers, nice lightning, good glass windows help to attract. To make your furniture business in a wide market promote your shop through the local press, radio, and television ads.
Promoting your shop is also very important. Make sure that the photos of the items you are selling are clicked in bright light. The outside view of your shop should look smart and attractive.
- Signboards and unique shop name for maintaining a good standard
- Add discount and sale sign
- Polite and properly dressed staffs
- Provide delivery service
Decide your selling price
It is necessary to decide the proper price for your goods. You should know the difference between the selling price and cost price. Your profit must cover all of your operating costs, including your drawings.
Customers often shop around the best price for mainstream products. While deciding your selling price, it is first necessary to know how much your competitor retailers charge for that particular item. Make sure that the same item is not available at a lower cost online. Do not mark the price low than your cost price, in this way you bear a huge loss.
Discount and special offers:
Giving a certain discount on your item can attract customers. However, if you set a discount on a regular period, your customer will wait for the offers rather than paying full price. For example, you can set offers if they buy goods at a certain price. This way it will encourage them to buy goods on a large scale.
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