Furniture Import Business Plan
Furniture Import Business Plan
Importing furniture is a profitable business not only in the US but also around the world. The reason for is treble. One is the opportunity. Not every state or country can admire itself with having its own furniture manufacturer. If this is the case then there is no other option than to import furniture pieces in order to meet the demands of the local market.
Investment – Furniture Import Business Plan
The startup capital for this venture is quite heavy but the rewards are also heavier. Remember, in order to earn money, one needs to have an investment. Finally, have the furniture shipped stateside together with the documents from the exporter and then settle all the required paperwork being sought by the customs.
Furniture items from less technical countries are significantly cheaper. The employment cost there is so low so much so that it negates the shipping and handling expenses. You can import from these countries you have a low budget.
1. Purchase furniture
3. Permits and license
Your business location could be anywhere, generally, the import companies place their office on highway roads.
How to start – Furniture Import Business Plan
Your goal as a furniture importer is to acquire/purchase furniture items directly from a foreign furniture supplier. You later ship and resell this furniture in the domestic market. In the undertaking, you will be dealing closely with storage companies and transport companies.
Furniture importers act as negotiators between the manufacturer and the end user. First, they negotiate with the furniture maker or his representative. Once an agreement has been made, the importer then pitches his furniture to the wholesale distributor or the retailer.
To prosper in this field, a person must have no aversion to conducting sales pitches. He must be enthusiastic yet patient and keen on tracking the excellent points like shipping receipts, invoices and so on. It would be quite beneficial if he has some sort of background or work experience in the import /export industry.
It is not always required for a furniture trader to travel abroad in search of pieces to sell. The internet is a very helpful place in your search mission. You can also go to trade shows. It is easy to determine when and where to find such shows. All you need to do is get in touch with the trade development office of foreign embassies.
Once you have selected what you want, get the exporter’s quote and negotiate on the price of the furniture items. As soon as you are pleased with the offer, buy the products. Expect to shell out a high sum since you will be buying in volume.
Know who your potential clients are. Make sure that the furniture pieces you are offering fit the lifestyle and selection of your target market. The superiority of this stage in the business planning process cannot be emphasized enough. If there are no buyers then there is no business.
Target markets – Furniture Import Business Plan
Your target markets are the potential furniture shops. And your suppliers. You have to maintain a good relationship with both parties.
A degree is not necessarily required to start this business. However, you do need some experience. You can work with the import companies and take a look how they are managed and run.
Advantage – Furniture Import Business Plan
The business might sound very hard to you. But as the saying suggests, ‘No pain, no gain’ you have to work hard to reach a level where you will be earning millions each month.
Key to success – Furniture Import Business Plan
Your first key to success is starting a high quality, high-value relationship with your vendors and customers. The second key is to make sure you are providing reliable and timely delivery of your products. The last key to success is to create a well-founded administration of the organization.
$150,000-$200,000 per year.