When you think of starting an online venture, the profit margin is your first consideration. You do not want to start selling items or product that no one has interest in. As an entrant on the virtual marketplace, gurus and veterans will always advise you to sell items that are used daily by consumers such as electronics and jewelry.
However, few experts will tell you to start selling furniture online. In fact, they will advise you to avoid heavy products due to shipping and delivery challenges. But is this true? Is investing in online furniture business worth it? Here are three reasons why selling furniture online is a good idea:
The demand for furniture increases each dawn
Think about it this way: each building you come across, whether a church, a school, hospital, a home, or an office, or whichever its purpose might be has at least one type of furniture. You need chairs in your shop. You need sofa set, tables, cupboard, and beds for your residential home. You name them.
Each day new houses are being constructed. Also, people are in search of new and modern furniture to replace the old and worn out ones. With this in mind, it’s clear that furniture is a product in high demand. As such, investing in selling furniture online is a guarantee of high returns.
Low overheads and high profitability
If you are a brick and mortar furniture retailer, you can confirm that the overheads for this type of store are limited. Unlike other stores, you do not need heavy investment in special storage devices and equipment.
For instance, there are no conditions such as “store in a cool, dry place.” As such, there is a possibility of high profits. Moving to online selling will expose your furniture business to a wider audience. Hence, you will enhance your profitability as the only additional cost will be website maintenance and hosting fee.
Freedom of choice
Unlike on a brick and mortar store, an online furniture shop gives you the opportunity to offer your customers a wider variety to choose from. For instance, you physical shop can only offer locally made furniture. However, through the online store, you can source items from different parts of the globe and feature them on your site. Hence, your customers will get an opportunity to choose furniture made in another country. As you know, giving the customer freedom of choice is essential to business growth and profitability.
Things You Need to Start Selling Furniture Online
Are you planning to launch your online store? Selling furniture online can be a lucrative business. As you know, new apartments are being built every day. At completion, each building will require some type of furniture whether it is a residential house or an office block building. According to Technavio, a leading technology research and advisory company, the demand for furniture will grow by more than 20% by 2020.
With the growth and penetration of internet, you can be sure that almost 80% of the purchases will take place online. As such, selling furniture online can be a profitable business. But what do you need to start your furniture e-commerce business? Here are the requirements:
Whether you want to sell tables, chairs, or filing cabinets, you need to have a plan. A business plan is a roadmap of your venture. Many webpreneurs like you make a mistake of ignoring a business plan as starts selling furniture online. In the end, their business fails to see the light of the day.
As you set your foot to sell furniture on the virtual market, it is essential to develop a business plan. The plan will help you in efficiently investing your resources. Also, with it, you will know the weaknesses and strengths which will play a central role in ensuring the success of your online store.
As you know, to start selling anything, you need a store or a shop. When it comes to the online platform, a website is your display room. Like the way you arrange your furniture in a brick and mortar store, you need to a have a website that has a superb layout and gives the visitors an opportunity to interact with your offers.
Importantly, your site should be easy to navigate for your esteemed customers. Also, you must ensure it has a high visual and written content that can convert visitors into buyers.
Suppliers or the source of your furniture
Imagine launching your business without any product to sell? Or else purchasing few furniture for resale without having a permanent supplier. Do you think your business will be sustainable? As you know, suppliers are a core part of any business. In fact, you are only a connector between a supplier and a customer. Hence, finding where to source your furniture for selling online is a crucial step to ensuring your business success.
Least Known Ways of Selling Furniture Online Faster
As you set up your online furniture store, the first goal in your mind is to generate revenue. For you to achieve it, the customers must buy what you are offering. Without sales, generating revenue will only remain a wish and a dream in your mind. Nevertheless, no customer will come to buy from your store if you do not take steps to convince them that you are offering the best prices and quality.
Also, inventory is a tied up capital. Hence, the faster you sell it the better. However, considering that furniture is part of bulky goods, selling them online can be a challenge at times. Regardless, using the following strategies you can sell furniture online faster than your competitors.
Sell home and office furniture
New offices and homes are being established each day. Each of them needs some furniture for various uses. This information is an indication that the demand for office and home furniture is high which interprets to more and quick sales to an entrepreneur offering such items. In this essence, as you set your foot to selling furniture online, the home and office options should be your first consideration. Importantly, you need to do an analysis of the trending office or home furniture for you to make fast sales.
Upload clear and quality images
Unlike in the physical store, your clients only rely on the images you post on your furniture e-commerce website in order to make a purchase decision. To convince them, you need to ensure the images meet the right quality. Also, your images should show all dimensions of the type of furniture you are offering such that the clients can interact with them as they would in a brick and mortar store.
Otherwise, displaying low quality and dull furniture photos will chase away potential customers and harm your site reputation. For this reason, if you want to make fast sales in your online furniture store, ensure you have the best quality images.
Provide a live chat option
At a time, a client logs in to your online furniture store and finds an item that meets their desires. However, they do not completely buy it as they have unanswered questions. To avoid such cases of losing customers, you need to include a live chat option.
Here a potential customer can reach you and ask any question relevant to your offers. Also, the process provides you with an opportunity to build a strong relationship with them. Hence, live chat will not only help your selling furniture faster but also create a potential sale in future.
These are the three essential requirements for starting to sell furniture online. With the above information, you are now certain that selling furniture online is a profitable venture.
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So, you have decided that you no longer want to run your business and you are looking for the best way to sell your business.