Starting a Furniture Consignment Business
A furniture consignment business can really offer a lot of useful furniture items and sets that can be perfect to be placed for any home or office.
This is an ideal venture for an individual with enough knowledge and passion for interior designing and an interest for various antiques.
Furniture Consignment Business Overview
In terms of the resale industry, furniture is one of the fastest growing segments there is. You can have in your store 100 year old highboy and mix it with a 5 year old sofa. In terms of selling pre-loved items, the trend nowadays is finding old furniture and then making a way to make it look hip again. This business of furniture consignment is really for those into interior design. You have to have a knack at what you do, or you have to love something for you to be successful in it.
Aside from the usual tables and sofas, you can also stock on other interesting items such as paintings, antique items, grandfather clocks, interesting clothes rack and decorative pieces. Aside from having interest in furniture, you should also know how to appraise valuable items. You can always hire someone with an eye for value but it would be more dependable and affordable if you can do it yourself. This way, no one can fool you. Also, take note that this business is on a consignment basis. Therefore, after appraising an item, you can take it to your store and offer it to potential buyers, all for free. You do not have to pay for the item as long as it is not yet sold.
Knowing the Market
The market base will be those people who love shopping at antique stores and even on new home furnishing outlets. As a business person, you should find a way to attract your client base into your store. You can advertise through the radio, the local newspaper and even on billboards if you have the budget for it. You can also arrange a seminar and then educate the people in your area about antiques, furniture design and collectibles. This way, you offer information aside from offering products. The important thing is you should get the word out that you are in business and that your business is a great find.
Having the Tools
As far as what furniture consignment business needs, all you need is a shop. You need a fairly big space where you can showcase your latest finds and store some of your resale furniture. You need to decorate or divide the shop into segments so your customers know where to go when finding certain furniture items. You will also need to tag every item, have a supplier for shopping bags and wrapping collectibles as well as a cash register. A pick up truck is essential for picking up and delivering large pieces.
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