How to Open a Furniture Store

If you walk into a room and think about how you could make it look better, it may be that you should open a furniture store. Or you perhaps you actually make handcrafted furniture and be ready to take the next step of opening a showroom.

Instructions

Difficulty: Moderate

1. Develop a plan of action by writing a business plan. A business plan gives you a better understanding of the elements that must fall in line before you can open a store. You need to have a business plan if you are going to try to finance the store. This is also a great place to qualify your experience with furniture and how you can apply that experience to opening a store.
2. Research locations for your furniture store. You need to know what area can support the type of furniture store that you want to open. You must also be familiar with the local area and where people like to shop. If you specialize in a specific line of furniture, you may decide to open your store in an area with other specialized dealers. You should also consult demographic analyses of the area.
3. Secure financing for the furniture store. Your business plan should have shown you exactly how much capital it is going to take to open and maintain your furniture store. If you do not have the capital yourself, you need to secure the financing before you proceed.
4. Finalize agreements for your store. Opening a furniture store requires time, energy and work. You need to have your property situation finalized. This can include purchasing property or signing a lease agreement. You also need to have your financing closed. If you have a partner or investors, you must get the paperwork completed.
5. Prepare to open your furniture store. You may need to build out the space for your store. The build out will incorporate all the details to make your store operational inside and outside. You also need to have your inventory scheduled to be delivered and in place, and hire and train staff if necessary and have all necessary permits before your grand opening. Do not forget to install your phone systems and point of sale systems.
6. Hold your opening. Some companies prefer to start with a soft open, which allows customers the opportunity to shop and gives staff the opportunity to apply their training. Other companies will start with a grand opening. Whichever way you decide to go, you need to open the doors and start selling.

Tips & Warnings

• Some areas have regulations on the types of finishes that can be applied to furniture.