But why there’s a large possibility of growing a startup in the furniture industry?
85% of the Indian furniture industry completes every work in an organized manner. Even then, this comprises manufacturing or sales.
Regardless of the demands of Indian furniture across the globe, there is a lack of organized companies in this sector.
Especially in the segment of online business, there are more opportunities created. Euro monitor reports and other agencies have predicted that the market of the Indian furniture industry will expand to 35 billion dollars in the year 2020.
In which, e-commerce business of furniture will have 49 thousand crore market for itself. Till the year 2022, the Indian furniture industry will bring a large market for new furniture startups and online businesses. This industry includes not only furniture but also decorations for interiors.
The Indian furniture industry will turn into over 2.5 lakh crores industry at the end of the year 2022. Also, online business will become a bigger part of the furniture market.
That’s why the online section of the furniture industry has the possibility of unlimited growth. This exponential growth rate will open many doors for furniture designers and budding entrepreneurs.
But how to start a startup in this sector?
Don’t worry, here I have explained a step-by-step guide for you. These steps will help you kick start your furniture business.
Steps to start an online furniture business
But what should be the first step?
Before launching your e-commerce business, you need to work on the different sides of the furniture industry.
It is important to find out in which section you want to work upon. Because it will be beneficial for selecting a section at the starting of a company.
Make that section a priority for your furniture business.
When displaying the prime section on your web platform, make some room for products related to it.
In the last one, you only have to advertise and marketing the primary section.
A Lot Researches Needed
In India, less than 50 companies are working in the furniture industry. But, though, you need to know about these companies.
Research on such companies will help you know how the furniture industry is serving. With the products, what package do they offer?
Other companies, such as RentoMojo provide a platform to rent wood products and furniture online. You can gain a lot of knowledge from the pioneers of the furniture industry.
Research and learning are all you need to do now. Take out a pen and paper to write the key points.
Selection of Professional Website Builder
In an online business, choosing a professional builder to display products is important.
Whenever the customer wants to shop online, his focus will be on how the product will look like with other domestic interiors.
To design a website and display products, you need to take the help of a professional website builder. Here are some website builders for your business: Wix.com, WordPress.com, Shopify.com, Weebly.com, etc.
For the short term, you can also hire a freelance website designer and developer. So, you will not have to face any technical problem or glitch.
For high-quality images of products, you will also need an interior expert and a professional photographer.
Content Creation for Customer Engagement
To introduce the products in the online market and also for the product description, you will need to hire a content writer.
As you know, content marketing has become important for any business.
It is also the most valuable asset on your web pages. To engage customers, an online business needs to spend on creating engaging and influential content for visitors.
Each product you display needs to have an appropriate title, description, and technical description. Product description and details are essential for customers and businesses. This will not only increase customer engagement but also double revenue.
In the description, try to incorporate the advice of an interior designer with product features and materials.
Ready to Sell Products
In India, 85% of the furniture industry is unorganized. That is why the selection of qualitative products is a major challenge in this area.
Initially, you will need a large budget to launch your startup. To manufacture products, you must have enough balance to invest in it. What is the best option to set up a business without a manufacturing unit?
This is Ready to Sell option.
In this, select the manufacturer according to your furniture section. After selecting a manufacturer, make a legal contract in which you will mention your target customers, product design, logistics, repair, and replacement facilities.
Also, what would be the right channel for customer service of your business? You should mention this in the legal agreement.
Give a Room to Modifications
The option of Ready to Sell is to sell products to customers. Most companies have no option to customize the products. They only focus on selling the product.
If a furniture company has the option of modification or customization, it will help that company stand out in this competitive market.
In addition, it will open the door to a profitable market and inspire many customers to buy products from your online platform.
But keep in mind that this option can affect your artists and profits. The solution to this problem is not to use the offer of modification for every product.
Instead, you can apply this offer of simple modification on the fixed range products.
The furniture industry is a fast-growing industry. A little experience or research can help you start your e-commerce business in this area.
I hope this article is helpful for you. You can share your feedback or question here.