In theory, running furniture retail stores should be really simple with guaranteed success since all homeowners need furniture. In reality, just some of the furniture stores succeed. In order to help out those that are eager to launch one, Gary Friedman discusses the important things that should always be remembered. All can drastically increase the possibility of success and can increase profits.
Advertise To The Appropriate Market
It is obvious that you need to advertise and it is a shame to see some store owners that just open their doors and expect customers to walk in. Remember that advertising is not always expensive. You can always choose options that fit both the market and the budget you have. The difficulty stands in truly knowing your market.
When you advertise, be sure that you never misrepresent and that you emphasize strengths. Is the store specialized in custom-made furniture? This is what you have to advertise.
Always Carry High-Quality Furniture
Advertising can bring people to the furniture store but you can only make sales in the event that there is quality furniture that backs everything up. If this is not the case, money is simply thrown away. As you offer high-quality furniture, together with other quality furnishings, people start to see you as a reliable, reputable store.
Always compare the furniture you carry with exactly what customers want. Monitor complaints about furniture and returns. This gives you an idea of what clients do not want.
Competitive Pricing
The modern shopper knows how to find good prices. It is now more important than ever to offer truly competitive pricing. Value is offered and customers actually have a reason to shop. As you run the furniture retail store you have to give access to prices that consider demographics and location, based on what you target. When the price is too high or too low, you become a lot less competitive.
Make Sure Your Sales Team Is Properly Trained
If the sales team is well-trained, you automatically convey confidence in the company and products. Sales teams need good product knowledge and need to understand price points. Employees have to know where the advertised items can be found and the offered price. When your sales team properly engages customers and understands preferences and needs, it is much easier to sell something.
Outstanding Customer Service
Most of the complaints customers have appear because of bad customer service. The furniture store has to offer a great experience, one that goes way beyond what is expected. The goal in most cases is to build relationships. You want to create a perfect environment based on loyalty and trust. If this happens, more sales are going to be naturally generated in the future. The entire workforce has to offer outstanding customer service. This includes office staff, warehouse staff and delivery staff.
As you can see, there are many things that have to be taken into account as you manage the furniture store. If you really want the business to be successful, be sure you consider absolutely everything that was mentioned above.
