Furniture is counted as one of the necessities for any house or business, but buying furniture can be a bit expensive. So, many times consumers opt for buying second-hand furniture to save money. Also, the difference between used and new merchandise is not much recognizable if the used furniture is in good condition and is provided with a touch of furnishing.
Selling used furniture can be a profitable venture for people. However, there are a few things that must be kept in mind before jumping into it.
Making your Furniture resale business specialized in nature
It is very important for you to choose a particular niche for your business rather than making a mess out of everything. Particularizing your business will not only help you in targeting a customer base with specific needs but also save you from worrying about maintaining a huge stock of furniture that will block your money and space.
For instance, specializing in office furniture or choosing some established brand like kin can be a good idea. Thereby, advertising with a tagline like Kin Dining Table from Eva can cater to a lot of customer response due to brand image.
Completing all the process of documentation
It is very important to get all the licenses and permits needed to run the furniture resale business before starting the business to avoid any fines. A common list of documents can be a name certificate, reselling permit, etc. A simple online search would provide you with all the information about the legal formalities.
Arranging transportation capacity for furniture resale business
Furniture being a bulky good need a proper transportation capacity. Dealing in a resale business makes it even more important as here you don’t have the luxury of getting the merchandise from one store department but on the other hand, the furniture needs to be collected from various places. Further, you should ensure that the driver must possess a commercial driving license.
Arranging space for your resale business
Furniture requires a lot of space and needs a proper space that saves it from things like heat, water, humidity, termite attack, etc. Thus, you must ensure this space well in advance. It can be a rented warehouse or a proper retail store, depending on your requirement.
Sourcing out inventory for your furniture resale business
As was mentioned earlier, there can be multiple ways for obtaining the furniture. However, you need to arrange all these sources well in advance to avoid last-minute shortages. Popular destinations can be furniture auctions, garage sales, placing advertisements online and offline, and accepting merchandise directly from customers.
Planning out the structure of the store
After arranging all the inventory and the space, one must plan out how the merchandise can be arranged in that limited space. It should be organized in a safe manner leaving enough space for customers to walk. For example, furniture related to the office can be arranged in one room, and the room might be utilized for dining furniture.
Advertising for your furniture resale business
Advertising plays an important role in determining the success of any business. There are various mediums for advertising, like the traditional methods which include advertising in newspapers, TV, or radio. Further, you can utilize unconventional methods as well, like advertising online on social networking sites or tying up with complementary businesses.
Establishing a bond with customers
It is rightly said that the customer is the king of the market. Thus establishing a good bond with them is an essential element in running your business smoothly. There are various ways in which you can do the same very easily, like giving them some discount or providing after-sale services.
The furniture resale business can be profitable and exciting at the same time.
Planning is the first and foremost step in establishing it. Following the given steps can help you in doing the same.
