Furniture and home furnishing stores carry a range of goods such as draperies, shades, home furniture, outdoor furniture, floor coverings, decorative accessories, and/or appliances. Some retailers operate solely as furniture, flooring, or electronic goods stores. Economic recovery and low unemployment are expected to position the industry for growth in the early 2020s and beyond. An increase in remote workers and more time spent at home are likely to fuel increased spending in this industry.
While it’s not impossible to make your way into the furniture market alone, the challenges are many. Going the franchise route offers more benefits in some niches than others, and the benefits when talking about the furniture space are too significant to ignore. Let’s talk a little more about why franchising in this market is such a smart move.
Find Your Place
No one store will be able to sell everything related to furniture and home furnishings – this space is just too large. Even the biggest names in this industry, those big brands, don’t carry everything in their stores. Instead, they have a specialty, and they master that market segment to the best of their ability.
Your approach can be the same when you work with a franchise because that focus will already be in place. The franchise you pick will already have something that it does well and something that customers associate with the brand. This will allow you to hit the ground running without spending months – or years – trying to find your niche within the more significant market.
Fill Your Store
If you opened an independent furniture store, one of your first challenges would be figuring out where to buy all the goods to fill up that store. That challenge will be much easier to overcome as a franchisee. You’ll have access to the purchasing network already in place for stores within the franchise network, and you can get started immediately.
Get the Ball Rolling
The most challenging period for any business is the earliest weeks and months of operation. This is a make-or-break time, as failing to bring customers in the door early on can create a hole that could become too deep to escape. With a franchise name behind you, it can be easier to draw some initial traffic, and you can aim to build from there to create a sustainable, lucrative venture.