Do you want to start a furniture making company from scratch? Or you need a sample furniture making business plan template? If YES, then i advice you read on.
There is hardly any home or office that doesn’t have some form of furniture in it; as a matter of fact, furniture is a major necessity in any building or facility. Without furniture, no home, office, school and others will be said to be complete. There are various forms of furniture used for different purposes and that is the reason why the furniture making industry is said to be a thriving and highly profitable business.
If you are entrepreneur looking for a business to start, one of the businesses that can guarantee huge returns on your investment is furniture making business. Starting a furniture making business requires technical skills; you would need to learn the trade. It might take you 6 months or more to learn how to make furniture. If you are a fast learner you will grasp the basics within 6 months.
Although, there are several furniture making businesses in town, but if you are creative and you are good with what you do, people will always look for you – the market for furniture is big.
The bottom line is that if you have proven yourself to be ahead of your competitors in terms of producing quality furniture, then you won’t have to struggle to attract clients from far and wide. As a matter of fact, you can build your furniture making business to compete with top furniture making companies in Italy et al.
Now let us quickly consider some steps to follow if you want to start your own furniture making company from and the scratch in any location or country of your choice;
Starting a Furniture Making Company – Sample Business Plan Template
Table of Content
1. Learn the Trade
If you are interested in starting your own furniture business, it is important that you enroll in a technical school, trade school or as an apprentice in a furniture making company to learn the trade. Learning how to make furniture is not rocket science; once you have interest in it, you can easily grasp the concept and within a short period of time you will start producing your own furniture.
So, ensure that you source for a good place to learn the trade before starting your own furniture making business. The truth is that you will continue to improve as you produce more furniture.
When you are through learning how to make furniture and you are certain that it is a business that you want to start, then it is important to sit down and develop a good business plan for the business.
The truth is that, it is your business plans that will help you edge out competitors in this type of business. Just ensure that you play to the area of your strength. For example, if you know that you are good with making office and school furniture, then you should concentrate on it as against dabbling into sofas and beds et al. Your furniture business plan should be able to give direction and guide to your business.
3. Register Your Business
If your intention of starting your own furniture making business is to supply offices and corporate organizations furniture, then you should endeavor to register the business. There are loads of benefits you stand to gain when you register your business with the government of your country.
You are also required to obtain your tax payer’s ID and also to open a corporate account for the business. If you can go out of your way to get all these done, people will take you seriously and they will be willing to want to do business with you.
4. Rent or Lease a Facility
One thing about furniture making is that it requires enough space; space for producing furniture, space for showroom, space for storing raw materials and space for storing working tools et al. So ensure that you have the dimension of the space you would need before contacting your realtor to help you look for a facility to rent or to lease.
Except you want to combine both your showroom and your workshop in same location, the location of your facility should not be a big deal. You can manufacture furniture from the outskirt of town and then showcase them in your showroom in a good location with reasonable human and vehicular traffic.
5. Acquire Your Working Tools
Without the right tools in place, you will struggle to manufacture furniture; there are work tools that you must acquire if you want to start your own furniture making business. Tools such as; hammer, chisel, saw, G – clamp, filling machine, hand driller, nail remover, spray machine et al. These tools are not expensive; you can even start with fairly used ones if you intend cutting cost to the barest minimum.
6. Stay Abreast With Latest Furniture Trend
One thing about the furniture industry is that the trend changes from time to time; people discover better and efficient ways of producing different type of furniture and you can get such info from published journals or from the internet. So, ensure that you stay abreast with the latest trend in the furniture industry if you want to stay ahead of your competitors.
It is important to state that, if you are pretty good in furniture making, you won’t struggle to attract clients not just from within your community, but from far and wide. So, your first making strategy is to ensure that your furniture are top notch and can favorably compete with furniture from any part of the world.
Once you have gotten that right, you can now take advantage of both print and electronic media to promote and market your furniture making business. It is very important to create a catalog of all the furniture you have produced; it can be in both soft copies and hard copies. With that, people can easily see and appreciate your work.
There you have it, the steps needed to be able start a furniture making business from the scratch and then develop it to profitability.