Guide to Starting Your Home Decor Business
How Does Home Furnishing Industry Grow?
Furniture or home furnishing industry consists of businesses that manufacture and sell products related to interior decoration, such as soft furnishings, cabinets, lightings and other household appliances. It would never lack of demand since there are countless buildings have been built every single day. Even during the pandemic, the growth of home furnishing business is never slow but steady. Moreover, the globalization and ecommerce boom help boost the industry. To 2025, the revenue for home furnishing industry will make a 25% increase. OPPEIN, as the leader of custom home furnishing company in China, shared its mid-year report of 2021. In this report, its sales turnover reached 1.26 billion US dollar in Q1 and Q2. Thus, it is the perfect time to catch the trend and share the value of this big market.
Own a Franchise or Start Your Own Company?
To start your business, the next thing you should consider is to own a franchise of a famous brand or set up your own company. Here we will compare the process of these 2 options.
If you are interested in start your own company, you may go through these steps:
1. Do local market research.
2. Make a business plan and get finance.
3. Register company and get license.
4. Source materials by your own.
5. Hire and train employees.
Build up a brand-new company is never an easy task. To mitigate the risk of starting up a brand-new company, we suggest you to get a franchise from famous company of the industry, which will make your success much easier.
As for owning a franchise, normally there are 3 steps to follow:
1. Find a trustworthy company and submit your inquiry.
2. Pass the evaluation of the company.
3. Hire employees and start your business with support.
By this way, you would not have to do the specific works all by your own. With the help of a mature company, much time and money can be saved. For instance, OPPEIN has been supporting its 7,000+ worldwide franchisees with product discount, technics and professional teambuilding. And the franchisees have made over 900 million US dollar revenue in Q1 and Q2 of 2021. What’s more, franchisor would provide a protected territory policy. That means the franchise owner will be the only franchisee in the region with no competitor from the same company.
How to Find a Trusted Franchisor?
Thinking about becoming a franchisee? Then let's talk about finding a trustworthy cooperator. If you have experience in home furnishing business, you may recognize some of the famous brands in the market. However, that does not mean the famous the better. Famous brand always make strict requirements for franchise ownership, and you may need to pay a great deal to get own their franchise. The point is finding a potential cooperator – those who are already famous in some regions or countries and willing to expand their presence to the world. Make a survey for the company about its scale, business condition and its franchisees. After that, you can make a list to compare the pros and cons of the companies you are interested in. Fully analyzing the company could help you make the right choice.
Just like OPPEIN, top brand of home furnishing manufacturer in China, is offering worldwide franchise opportunities. As a public corporation, OPPEIN will disclose its business and financial information to the public regularly. Compared to other privately held company, there are more data you can check out to make a comprehensive assessment.
As a conclusion, home decor business or home furnishing business is a wide opened market, and it is a great time to get involved. If you are a fighter, try and start your own company with a detailed business plan. But if you are looking for an easier way to succeed, find a trustworthy corporation and buy a franchise.
Looking for more information about OPPEIN franchise opportunity? Click on OPPEIN FRANCHISE to view more.