Thinking about opening a home furnishings business? We tell you what you need to know to get started.
(article continues below)
Successful Business Plans for Home Furnishings Businesses
If you've done your homework, you already know that writing a business plan is the most critical thing you can do for your company.
We'll add one more voice to the chorus – writing a solid business plan is the most important thing you can do for your startup. If you take your business plan seriously, the end product will be a document that will guide your company through the critical first year and beyond.
If that's not enough, consider that business plans inoculate your business from common startup mistakes. Lacking a solid business plan, many startups find themselves rudderless and incapable of executing consistent decision making processes, while committed business planners rely on their plans to guide all of their decision making and short-term planning efforts.
Take a Look at Competitors
Before you open a home furnishings business within your community, it's a smart move to see how you will fit in the competitive landscape. Try our link below to find competitors near you. Just enter your city, state and zip code to get a list of home furnishings businesses in your community.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
If you want to open a home furnishings business it's essential that you talk to somebody who is already in the business. If you think owners of nearby home furnishings businesses will give you advice, think again. The last thing they want to do is help you to be a better competitor.
However, a fellow entrepreneur who has started a home furnishings business on the other side of the country will be much more likely to talk with you, given that you don't compete with them in their area. In that case, the business owner may be more than happy to discuss the industry with you. If you are persistent, you can find a business mentor who is willing to help you out.
Where can an aspiring entrepreneur like you find an owner of a home furnishings business in another community?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Acquisitions vs. Startups
Unfortunately, many inexperienced home furnishings business entrepreneurs approach ownership with the mistaken idea that a startup is their only option when they could also pursue a business acquisition.
Unless you have compelling reasons to launch a new business, buying an existing home furnishings business may be the better choice.
The good news is that a home furnishings business acquisition is a recognized name and usually comes with a loyal customer base. If you're diligent about finding the right acquisition prospect, you may be able to leverage a business buying strategy to rapidly propel yourself into a position of industry leadership.
Explore Franchising Options
Startup small business owners sometimes lack the experience and resources to make a go of it in a competitive business environment. Franchised startups have an edge over other startups because they launch with many resources already in place.
The Gaebler home furnishings franchise directory is full of exciting franchise opportunities for home furnishings businesses as well as other businesses. Just click the link to peruse the possibilities.
Remember, like any business, a franchise requires commitment and capital. Although the capital requirements vary by franchise, with a little research you should be able to identify a franchise that is capable of meeting both your ownership goals and capital budget.
These interviews should be of interest to you.
These additional resources regarding starting a business may be of interest to you.
If you currently own a home furnishings business, these resources will come in handy:
If you sell to home furnishings 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.