A growing middle class with a growing disposable income is just the right recipe for a flashy lifestyle. A flashy lifestyle is demonstrated in many ways especially in material possession that are expensive, unique and stylish. The furniture in one’s house is a signature of their style. The simpler and colourless it seems the less flashy it is deemed and vice versa is true. The middle class in Kenya has been growing steadily over the last 10 years. This class demands for stylish, unique and flashy furniture and make no mistake they have the money to splash to meet their hearts desires. For an entrepreneur, this is fertile virgin land, especially if you have been blessed with an eye for the finer things in life. Armed with what is trending and good internet search techniques, I will say you are 50% on track to undertaking one of the most lucrative businesses of our times, the furniture business. The remaining 50% is outlined in the article below:
Get Carpentry Training
Formal training is important if you want to indulge in the business and start making furniture by yourself. Many vocational training institutes offer carpentry training in both rural and urban areas. Current clients are trendy and require the latest designs; therefore, they must be updated on the latest designs. However, if you find no pleasure in cutting and joining wood, you must arm yourself with skills to recruit a carpenter with an exquisite skill on furniture making. Getting some training will also be useful in helping you know how to efficiently run your business and seal any loop holes that can lead to you losing money, such as employee fraud, and supplier fraud
Find a Constant and Reliable Timber Supplier
Timber is the main raw material for making furniture; you require a reliable supplier for your business. One can find wood from a logger or a timber yard. Quality is paramount in this business; therefore, you require to buy high-quality timber. Hardwood timber guarantees high quality Furniture High-quality products fetch more money, and clients are attracted by their durability. Poor quality timber can mess with your business since the products are not durable.
Find an Ideal Furniture Business Location
A furniture business should be strategically located in a high traffic section preferably in a residential area. This saves both the clients and yourself transportation costs. The location should have adequate space to accommodate the showroom and a workshop in the backyard. You will need a backyard area to fix broken furniture or as an assembly ground. An urban area is most ideal for furniture business, especially in the residential sections. Demand for furniture is more in urban areas than in rural areas.While the customer is an important consideration in identifying your location, you also want to consider your suppliers and make your final decision based on proximity to both. They are the major players in your business.
Acquire Business Permits
It is important to run a legitimate business by acquiring business permits from relevant county offices. One fills in details of their business name, location, name of the owner, and identification number to get the permit. The average cost per annum is between KSH 5,000 to KSH 10,000.
Usher in Your Furniture Business
Once everything is set, you can open your furniture business. A great display of the latest furniture trends will be catchy to clients. Building clients’ trust is the number one priority, and it is built by delivering the product as agreed. One should have a variety of products like sofa, beds, office tables, desks, coffee tables, etc.
Advertise Your Business
At the business premises, the best way to market your products is by having a wonderful display. Social media is also a good marketing tool to bring in more clients. Find the pain points of customers within your area and use it as your flagship product. For instance you can position your business as a repair store for broken chairs and desks to schools. Not only shall you be diversifying your income revenues you shall also give them a reason to sample some of your wonderful products. Business in the 21st Century is about partnerships. It’s no longer easy to succeed alone, sometimes its marketing by association that works best. Depending on your target client, partner with institutions within your sectors and you shall be on your way to being a successful furniture entrepreneur.