AnnaC

Thinking about opening a furniture store? Good for you. That can be a lucrative business for sure. That is if you find the right location. Just ask any realtor the single most important factor for any business and the answer will always be: location, location, location. But what is the right location? This is something that no one can answer since it will be different from city to city. There is one thing you have to avoid when choosing the right place for your furniture store and we are about to tell you. Keep reading and soon enough you will be able to open up your furniture store and move all your furniture with a little bit of help from professionals.

Before we start

If you want to function in your store, you should think about how far it is from your house and how much time you'll spend commuting, among other things. The quality of your furniture is another thing you need to think about but let's focus on location now. A long commute can make working for yourself less appealing than working for someone else. Another factor that can restrict a store's autonomy is any restrictions imposed on the tenant by the landlord, management, or the neighborhood.

Don't go anywhere near IKEA stores

A furniture store, by all accounts, should rank among the most lucrative enterprises possible. We can't live without furniture. Some like fancy overseas pieces of furniture and some like basic ones but we all need them and use them! However, most furniture stores fail while a select few thrive. What, then, is it that makes a furniture shop prosper? LOCATION and quality of course. We have one tip for you right from the start.

It doesn't matter if you have unique products that are completely different from mass-produced IKEA furniture you don't open up a furniture store anywhere near them. No matter how confident you are about your products no one can compete with those Swedes. Being near your competitors is often a good thing just don't be near IKEA. Now that we told you this we need to tell you that you need to plan your budget properly way before you start packing the furniture.

Things you need to know before you decide on a place for your furniture store

The location of your retail establishment will have a major effect on how customers perceive your business, how many customers you attract, how much money you make in the future, and many other things. If these factors are ignored when selecting a store location, it could be detrimental to the success and growth of the business. Before settling on a retail space, it's important to define the present and future of your business by asking yourself the following questions:

• Do you know all about the typical profile of your clientele?
• Can you picture what your building will look like or the neighborhood?
• What exactly are you trying to sell, and how do you want to be recognized? Furniture is a pretty big concept.
• Do you know how much warehouse, store, and office space you'll need?

You won't be able to choose the most lucrative spot for your retail outlet if you don't have the answers to a few basic questions. After you have the answer to all these questions you can call a realtor to start looking for places. Don't forget to think about the safety of your new place!

Parking space is necessary and so is marketing!

We don't have to talk too much about this one since it's pretty obvious. You won't be too successful if your clients can't park in front of your store. So, think about parking space carefully. You certainly need it.
Another thing - don't assume that more customers mean more traffic. A large number of potential customers is appealing to retailers, but only if some of these customers also meet their specific demographic and psychographic requirements. Smaller shops in the vicinity of larger ones might see an increase in foot traffic as a result. To that end, here are some considerations for shops:

• How many people drive or walk by the location every day?
• Is there convenient access to public transportation?
• To what degree do customers and delivery vehicles have trouble entering and leaving the parking lot?
• Is there enough space for cars to park?

Depending on the nature of the store, anywhere from five to eight parking spots per thousand square feet of commercial space is ideal. Consider the viewpoint of the customer when evaluating the degree of visibility. More convenient store locations often result in lower advertising costs. Marketing a specialty store that is five miles from town will be more challenging than marketing a mall.

Planning ahead

Before signing a lease for a retail store location, it is imperative that you fully grasp all relevant regulations, policies, and procedures. You can get details about local sign regulations by contacting the town hall and zoning board in your area. There could be size and sign regulations that prevent you from advertising your business effectively. Find out if there are any regulations that could affect your retail business, as well as if there are any plans in the works that could alter traffic patterns, including new highway construction. Planning is something that is necessary no matter what you do. It's also crucial once you find the place and start moving furniture to your new store. You need to do it the right way or it will be very costly if you start making mistakes due to bad planning or inexperience.

The last piece of advice - do your homework

Do your homework on a potential location for a furniture store before committing to a particular city or state. Keep up with the regional press and network with other small businesses in the area. For more demographic details on the neighborhood, check with the library, business chamber of commerce, or even the Census Bureau. Retail-focused market research firms may also have access to similar data. Use it to your advantage before opening a furniture store. Statistics on the population, distribution of income, and the average age of the locals can be gleaned from any of these reports. Since you already have a good idea of who will be patronizing your establishment, you can pick a location that is conveniently situated near their homes, workplaces, and favorite stores.