Starting a Furniture Import Business
This information is intended for those who wish to start their own furniture import business. It gives you an overview of how the furniture import business works. Read and discover tips on where to search for furniture items. This article also explains why going into the import furniture business makes for a good business venture.
The importation and distribution of furniture have become, in recent years, one of the staples of international trading.
Importing furniture is a lucrative business not only in the US but also around the world. The reason is threefold. One is availability. Not every state or country can pride itself on having its furniture manufacturer. If this is the case, then there is no other recourse than to import furniture pieces to meet the demands of the local market.
The second is an image. Certain countries in Asia and Europe boast of having prime furniture craftsmen. They have been tested repeatedly to produce beautiful furniture pieces of superior quality. This has earned them a reputation, and this reputation is what sells their products.
The third is price. Furniture items from less industrialized countries are significantly cheaper. The labor cost there is so low, so much so that it negates the shipping and handling expenses.
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The premise
As a furniture importer, you aim to acquire/purchase furniture items directly from a foreign furniture manufacturer. You subsequently ship and resell this furniture in the domestic market. In the process, you will deal closely with storage and transport companies.
Furniture importers act as intermediaries between the manufacturer and the end-user. First, they transact with the furniture maker or his representative. Once a deal has been made, the importer pitches his furniture to the wholesale distributor or the retailer.
A person must not avoid conducting sales pitches to succeed in this field. He must be enthusiastic yet patient and keen on tracking the finer points like shipping receipts, invoices, etc. It would be a plus if he had some background or work experience in the import /export industry.
Scouting
It is not always necessary for a furniture trader to travel abroad in search of pieces to sell. The internet is a beneficial tool in your search mission. You can also visit trade shows. It is easy to discover when and where to find such shows. All you have to do is contact the trade development office of foreign embassies.
Once you have chosen what you want, get the exporter's quote and negotiate on the price of the furniture items. As soon as you are satisfied with the offer, buy the products. Expect to shell out a steep sum since you will buy in volume. The start-up capital for this venture is quite hefty, but the rewards are more prominent. Remember, to earn money, and one needs to have money.
Finally, have the furniture shipped stateside together with the documents from the exporter and then settle all the mandatory paperwork being sought by the customs.
The End-User
Define who your potential clients are. Make sure that the furniture pieces you offer fit your target market's lifestyle and preferences. The importance of this stage in the business planning process cannot be emphasized enough. If there are no consumers, then there is no business.
If you are planning for furniture importing business then watch this video to find some tips and ideas.
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