Buying A Furniture Store
Did the passion of decorating your home develop in you when you saw your grandmother or mum dusting
, cleaning and organizing the interiors of your home everyday?
Oh... that is just so natural to come up in children but if the passion has not left you and you have decide to make it a career option for your self, then I believe you have taken a good decision. Furniture business is an evergreen one. For years people have been buying stuff that would make their house look good and they would continue to do it forever.
Well, who does not like his home to be nice and well organized? So, serving the thirst of people for good quality furniture of the latest designs would get you good returns.
Now, if you have taken the final decision about the business opportunity and have the required capital for investment, I insist you buy an existing business that is up for sale in the market because of its highest value and growth potential. Although there are other things associated with a business for sale that you have to consider, let me first tell you why I insist on you buying a going concern furniture business for sale and not setting up one.
There are a lot of challenges that come handy with a new business. It takes to time to establish a big name in the market. On the other hand, buying a well established business would give you a well established customer base, goodwill in the market, employees who are familiar with the business operations and their duties, legal formalities that just need a transfer of ownership and there is much in store.
So, once you search for a potential business for sale in the market through internet or with the help of a professional business broker, you will have many alternatives in front of you. So, analyze all the alternatives and take a good decision with the help of a good business broker or friend who specializes in the field of business buying and selling.
Make sure you check the fidelity of the reason for sale of business by owner.
Also, ensure the price he charges is just according to his business and in comparison with similar businesses in the market.
Let me guide you about the most important details you need to check about the business for sale.
1.Name of the store and its Brand Value
2.Location. It should preferably be a furniture market or a crowded/popular market.
3.Legal documents
4.Financial statements of the last five years. This is important in order to ascertain the financial stability, profitability and growth potential of the business.
5.Building, Interior and Space.
6.Staff. It should be optimal and skilled.
7.Contract with the suppliers of raw material.
8.Contract with designer if you do not want to design all things alone.
9.Customer base, taste and preferences.
10.Working hours, holidays, time of rush in the store.
Advertise your business nicely in the market to attract more customers. If you have ample space you can extend your business and make innovations. You should have an efficient customer service desk to assist your customers and solve their problems.
I hope the time you have spent reading it went worthwhile. All the best!
by: pauldarreman
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