Got an eye for an up cycle? Want to share your love for furniture with Aussie homeowners? Starting a furniture store may be the business for you. An $11 billion dollar industry in Australia, furniture, including homewares, office decor, bathroom accessories and more, is a booming business!
Read on to discover the key considerations you need to know when starting your own furniture store in Australia. These include understanding your target market, finding the right premises, managing your stock and setting up an online store.
How do I start a furniture store?
Starting your furniture business can be as simple or as complex as you’d like it to be. In fact, many Aussie furniture businesses get their start on Facebook Marketplace, operating out of the back of someone’s home, rather than a showroom or a workshop. Don’t rule out starting from humble beginnings.
Your target market should be a reflection of your own interests and passions as well as what’s selling nationally. Millennials and Gen Z are major players in the furniture industry, with their love of vintage or second-hand furniture driving a lot of demand for up cycled pieces.
Once you’ve identified who you’re selling to, it’s time to find the right premises. This could be anywhere from a showroom or workshop to a warehouse or marketplace. Depending on your budget and the size of your business, it’s essential to ensure you have adequate space for both storage and customer interaction. Many of our clients get started from home, too, converting a garage or spare room into a showroom.
Managing stock can be one of the trickiest parts of a furniture business, so knowing what kind of inventory you want to carry and how much money you need for startup costs is important.
Square for Retail has a comprehensive point-of-Sale system that allows you to track inventory and stock prices in real-time seamlessly. With a click, you can restock, make sales, and keep track of all the profits you’re making.
Finally, creating an online store can be a great way to expand your business. This can include a website as well as social media pages - Facebook and Instagram are key platforms for furniture stores. Square Online lets you quickly set up an optimised eCommerce store with secure payment processing, product reviews and more.
Starting a furniture business in Australia - tips and tricks
We’ve got an in-depth guide on starting a business in 2023, with tips and tricks for entrepreneurs in all industries. This guide’s a handy starting point for any Aussie entrepreneur looking to start a new business. It covers the basics of what you need to know - from understanding your target market to finding the right premises and managing your stock.
Starting a furniture business in Australia is a little different than other industries. So it’s important to keep in mind the unique considerations you need to make, such as finding out what’s selling nationally and understanding your options when it comes to manufacturing, shipping and selling furniture goods.
Don’t be afraid to invest in the right tools - like Square for Retail to help manage your inventory and sales.
Research the market and identify trends so you can stock the items that are in demand.
Ensure your showroom or premises is well-designed, comfortable, and pleasing to customers’ eyes. Even if you’re using a digital showroom, professional short-form videos and photos can be a great way to entice customers into making purchases.
Focus on customer service and quality of products - this will help you build a positive reputation as a furniture seller, allowing you to gain regular customers.
Lastly, don’t forget to keep an eye on your analytics. Available in your Square Online dashboard, these analytics provide detailed insights into your customers and their behaviour, so you can make informed decisions about how to grow your business.
This article is for informational purposes only and does not constitute professional advice. For specific advice applicable to your business, please contact a professional.