Want To Start Your Own Furniture Business? Here Are Four Success Tips!

Want To Start Your Own Furniture Business? Here
Are Four Success Tips!
You may have always had an eye for the furniture business or
maybe you have been inspired by this article and would like to start
or invest in a furniture business. Afterall, if these amazing
entrepreneurs from Nigeria and Uganda could pull it off in the
business, you too can surely give it a go. Here are a couple of tips
you should have in mind as you consider this promising business
idea.
#1 - Skill Is Not A Mandatory Requirement!
Did you notice something common in the experiences of the
successful entrepreneurs we shared with you earlier in this
article? Yes, you’re right; none of them are skilled craftsmen or
artisans in the furniture business. When they started, they knew
nothing about joining pieces of wood together or the technical
details of carpentry, finishing and furniture making. How come?
How is it possible that these amazing entrepreneurs were able
to build successful furniture-making businesses without having
any technical skill in furniture making?
Well, you shouldn’t be surprised. It’s not always our job as
entrepreneurs to make stuff. Instead, we ‘organize the making
of stuff.’ Why do you need to make the furniture yourself when
you can hire experienced and talented craftsmen who are well
versed in the art of furniture making? Many of these guys can
produce very beautiful and durable furniture but often lack the
exposure to sell their work for a good price. That’s where you, the
entrepreneur, come in. You identify the needs of the market and
use your hired craftsmen to produce the furniture that the market
wants. (photo credit: meanderingsinthread.com)
Don’t get me wrong, skill is always important. You, the
entrepreneur, may not need skill to start this business, but you
need a lot of skilled labour to produce the kind of quality and
beautiful furniture that customers will want to pay for. The better
skilled your workers, furniture makers and craftsmen are, the better
your products will be!
#2 - Start Small But Dream Big
Starting small is our most favourite advice on smallstarter.com.
Ibukun started her multi-million dollar furniture business in Nigeria
by hiring machines she couldn’t afford to own. She didn’t even
have an equipped workshop when she started the business!
Today, she runs one of Africa’s largest indigenous furniture
businesses.
The furniture business is one of those few flexible types that you
can start on a small scale. Starting small allows you to take action
while you learn the business and grow. Waiting until you have all
the capital to buy all the equipment you need and hire all the
talented craftsmen you want is a futile strategy. Waiting to ‘start
big’ is one of the common excuses we covered in our popular
article – Sad But True; 5 Reasons You May Never Start A Business
In Your Lifetime .
#3 - Find A Unique Spot In The Market And Fill It!
It’s very likely that you will not be the first furniture business in
your area. You need to find something extra that will make you
stand out from the other furniture businesses out there. Like
Awaka, the successful Ugandan furniture business that builds only
custom-made furniture, you have to find a niche for yourself.
Focus on building a brand that will be remembered for quality,
beauty, convenience and eye-catching designs.
Don’t forget that any business that is easy to start usually attracts
a lot of competitors in due course. Finding a niche for yourself will
protect you from the copycats who will definitely flood the market
when they find out there’s money to be made. As long as your
products stay unique and you keep your customers loyal, success
will definitely be yours.
Photo credit: meanderingsinthread.com
#4 - Local Or Imported Furniture? Which Is Best?
Should you start a business in local or imported furniture? Is local
furniture more preferable to imported varieties, or vice versa? The
simple answer is: it depends . It depends on the taste, preferences
and demand of the people in your market. Some consumers (like
hotels, offices and rich people) prefer foreign furniture for reasons
of brand appeal or because they ‘perceive’ the locally produced
items as poor quality. Some other people cannot afford imported
furniture because they can be very expensive.
Whichever type of furniture (local or imported) you decide to deal in
should be based on the needs and demand of the customers you
plan to target. Some buyers are more concerned about beauty,
quality and durability, and will pay high prices to get furniture that
meets these requirements. Some other buyers are highly
influenced by cost and their choices are limited to the price of the
furniture. They will love to have beautiful and high quality furniture
only if it can fit into their budget. The bottom line is: you need to
know what your target customer wants and then you give it to
them!
In all of this, you should not forget that some African countries
(like Nigeria) forbid imported furniture. The only option in such
markets is to use the available resources to make furniture that
suits the different types of customers in the market.