Thinking about opening a furniture refinishing and repair business? We tell you what you need to know to get started.
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Business Plans 101 for Furniture Refinishing & Repair Business Startups
Startup entrepreneurs slave over the creation of their business plans, investing countless hours in the details of their startup strategy. Now it's time to address details about your industry.
A detailed, yet concise industry analysis is a basic component of a startup furniture refinishing and repair company business plan. In this section, your readers will gain a clearer understanding of your business stacks up against the rest of the industry.
To succeed, you'll need to be careful to avoid common industry analysis mistakes and to accurately represent your startup in an industry context.
Assess the Competition
Prior to opening a furniture refinishing and repair business within your community, it's a smart move to determine how strong the competition is. Use the link below to find competitors near you. Simply enter your city, state and zip code to get a list of furniture refinishing and repair businesses in your town.
How are you going to successfully complete with existing firms? It's important that you never underestimate the competition.
Find Good Remote Business Advice
Once you've finished assessing the competion, it's essential that you have a conversation with someone who is in the business. If you think your local competitors will give you advice, you're being overoptimistic. What's in it for them?
On the other hand, an individual who has a furniture refinishing and repair business in a different city can be a great learning resource for you, as long as they don't view you as a competitive threat. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
How do you go about finding an owner of a furniture refinishing and repair business in a different locale who can assist you?
It's easy. Here's a link you can use to find a mentor outside of your area.
Entrepreneurial Alternatives for Furniture Refinishing & Repair Businesses
Common sense will tell you that to enter the world of furniture refinishing and repair business, you'll either need to start a new business or acquire a promising company on the business-for-sale marketplace. But despite the attraction startups have for many entrepreneurs, you should also consider the benefits of buying a furniture refinishing and repair business.
If you're on the fence consider this: There has never been a better time to acquire a furniture refinishing and repair business. The down economy has resulted in a glut of available businesses, many of which can be acquired for bargain prices.
Franchising May Be a Better Way to Go
Your chances for achieving your top business goals greatly improve if you opt for franchising and benefit from the prior work of others and their lessons learned.
Before you consider starting a furniture refinishing and repair business, you may want to investigate whether there are good franchise opportunities available that might make sense for you.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing furniture refinishing and repair business, these resources will come in handy:
If you came here to learn about selling to furniture refinishing and repair businesses, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.