2015 was a banner year for furniture sales. Gross sales of furniture, bedding and accessory industry were $41.87 billion dollars last year.
There is an art to owning a successful furniture business today. If you think about it, a furniture retail store should be among the most successful businesses out there. Everyone needs furniture. But only a few furniture stores succeed, while most flounder, so what makes a furniture store successful? There is no single formula for success but offering value and outstanding customer service is a good starting point. What customers experience in your store counts as much as what they buy.
One of the best ways to increase sales in a retail store is to increase customer spending while keeping customer traffic the same. It is important to focus on areas that improve profitability. Often owners pay more attention to topline growing solutions and do not think about bottom line solutions.
Things like; adding a used furniture room to your line can drastically increase profits if you have a large enough store. Try encouraging your customers to bring in high end used items, whenever someone buys a new item chances are good that they have an item that they are tired of. You might try giving them a discount if they bring in a good item when they make a purchase or you might just sell their item on consignment, encouraging them to come back into the store when that item sells.
If you are located in a wealthy town, look up custom furniture, quite often craftsman will gladly place a few custom pieces in your store at no charge until it sells. You might also think about renting some furniture. The furniture rental business can be very lucrative.
If you have a passion for the sales process, you may want to explore furniture retail as everyone buys furniture.