How to Start an Antique Furniture Business Store
Introduction
If you have a craving for antiques or enjoy keeping an old piece of antique furniture and restore them then the Antique Furniture Restoration Business is the best business idea for you, here in this post you will get a comprehensive structure about how to start an Antique furniture restoration business.
Antique furniture restoration business demands some knowledge of carpentry to strip, sand, paint or stain furniture to return it to a saleable condition; it is valuable to have the association or deal with the local auction community where you can sell antique furniture after restoration with the great work.
Here in this blog, you will get the antique furniture restoration business plan which will aid you to start and run a business efficaciously.
A step-by-step guide to starting an Antique Furniture business store
Market potential of Antique Furniture business opportunities in India
This is a new generation wherein people are also thinking about reducing waste and recycling the stuff to protect our environment. Besides, most people have an emotion attached to their old, therefore, they want somebody to maintain or restore their antiques and they are on the lookout for antique restoration services.
If you are the person who desires to collect or restore the antiques then you can offer the antique restoration service to the people who are willing to restore their antiques. It will be perfect and creative business ideas from which you can gain a good income.
Numerous individuals love to purchase antiques so it is simple to sell antique furniture only if your marketing approach is striking. Hence, you have to work on the marketing and promotional plans for the antique furniture restoration business.
If you have a fair amount of place in your home then you can also begin the Antique furniture restoration business from home as this will save your capital of rent space. Here, you will see some interesting facts on how to use your love for Antique furniture restoration to a business idea.
Business plan for starting an Antique Furniture store
Finding the Right Market
Antique restoration is a competitive niche, you have to select the market where you don’t see that much competition, so it’s recommended to open your Antique furniture restoration business where you face zero or no competition.
While choosing the right market you have to do a proper analysis of your competitor, it will give you awareness about how to set up your Antique furniture restoration business.
The vital task while starting any business is to set up a business plan, without a business plan you cannot operate a business successfully; here we have declared some important facts that you have to study while crafting a business plan for the Antique furniture restoration business.
Here we have mentioned some places where you can plan to sell your antique furniture
- Yard Sales
- Auctions
- Estate Sales
- Thrift Stores
- Flea Markets
Build a network for Antique Furniture Restoration Business
Connect with the local auctioneer and inform them about your Antique furniture restoration business, they will aid you to get some more antique pieces of furniture to restore, and also aid to get potential customers.
Arrange few unique designs of Antique Pieces of Furniture before starting a business
Before starting an antique furniture restoration store you have to accomplish some antique furniture to display purpose in the shop.
Display your favorite antique furniture piece in the store and have photographs to advertise your business on digital media.
How to Purchase Antique Furniture
Check out the best antique dealers who will offer you a discount on the antique, if you have good taste regarding the antique then it will aid you to purchase the antique.
If you are not sure about your instinct, you can take an expert friend or relative who could help you to take good antique furniture.
Research on Antique Furniture business
Once you acquire good antique stuff do some research on it whether it is procured online or locally and check out the resources from where you can get a similar item. Find out the antique which people commonly tend to purchase.
Hire the experts for Antique Furniture Restoration
It is an added advantage if you already have Antique Furniture Restoration Techniques that need to restore the antique furniture, if you lack skills and expertise about the Antique furniture restoration business then you can get information from an expert. They will teach you about the skills and Antique furniture restoration Techniques.
If you are facing issues to restore the antique furniture then appoint the experts to do it for you don’t think more to pay experts. The higher the quality of the work, the better your antique product will be and it will indirectly be seen on your Antique furniture restoration business once you start selling.
In case if you miss this: Ideas To Make Money In India.
Area required to start an Antique Furniture Restoration Business
Identifying an ideal location for the Antique furniture restoration business is a vital task that indirectly impacts the success of the business while choosing an area location you have to keep in mind some aspects.
You can easily initiate Antique Furniture Restoration Business in around 800 sq. ft. area.
Select the place/ location where you can start a store and the targeted market must be close to the Antique furniture restoration store; also ensure that the storefront having open area space for ventilation while work is done.
Also ensure that the store consists of areas to store the antique furniture, choose the area where antiques are easily distinguished by potential buyers.
If you don’t have the needed capital to rent for the physical shop then it is suggested to create an online Antique furniture restoration store. This eliminates the rental investment in the physical shop.
License, registration, and permissions required to start an Antique Furniture Business in India
1) Registration of Firm: You may begin the small to medium Antique furniture restoration business either a Proprietorship or Partnership Firm.
If you are beginning this business as a Single Person Company, then you must register your firm as a proprietorship.
For a Partnership type of organization, you must register as LLP- limited liability partnership or Pvt. Ltd. Company with Registrar of Companies (ROC).
2) GST Registration: Apply for GST registration which will give you a GST number that is indeed mandatory to run a business.
3) Trade License: Get a trade license from local authorities.
4) MSME/SSI Registration: Apply for the MSME/SSI Registration which allows you to avail the government schemes and offers related to your Antique furniture restoration business if provided.
5) Trade Mark: It is recommended to safeguard your Antique furniture restoration business brand by registering for the trademark.
6) IEC code: If you are in a prospect to export antique items to the international market then you must apply for IEC which will provide you import-export code essential for the import or export of any product.
7) Domain and hosting: If you are thinking to begin an online Antique furniture restoration business then you must buy the hosting and domain name.
Investment required to start an Antique Furniture Business Store in India
You need to arrange finances of about Rs. 3 to 5 lakhs to start the business. The Antique furniture business is a unique business model where you can earn good profits with minimum investment.
Profit in Antique Furniture Business Store in India
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You can earn good profit margin at initial stages you can earn 15-20% later based on the antique pieces you provide you can increase your profit margin.
Marketing strategies to sell your Antique Furniture products in Indian market
You need to emerge as the trusted brand for antique furniture restoration, to create the market for antique furniture restoration you have to endorse the tour business by overcoming the defects and effectively highlight the advantages.
How to Sell Antique Furniture in Local Market
Contact local media: You can communicate with the local media to endorse your business, antique restoration always make a human interest story so local newspaper or media will circulate the article on your shop which will certainly help you to attract the right customers.
Also, invite the local press peoples and chief guests to the inaugural ceremony, it will notify you to build community-related contacts to your antique restoration business.
Place ads on offering restoration service: Targeting local customers is always a beneficial marketing policy in every business, you can place local ads on antique restoration service, and several people have antiques that they want to restore for long life, and in this way, you can reach them.
Ideas to sell your Antique furniture in online market
Creating your online presence: In the present era, having an Antique furniture restoration website for your business is important and it will aid you to attain the bulk customers.
Also, it is advantageous for the entrepreneur who plans to start the Antique furniture restoration business from home; you can openly show your antiques on your websites as you don’t have to rent for the physical store. Also, you sell your antique product on other online portals too.
B2B Websites: The websites for example such as Alibaba, Indiamart, Exportersindia, Tradeindia will aid in selling your antique furniture in bulk orders, so it is suggested to register your furniture restoration business on the B2B websites mentioned above.
B2C Websites: The websites for instance such as Amazon, Snapdeal, and Flipkart will help sell your antique furniture directly to the customer, so it is recommended to register your furniture restoration business on the B2C websites mentioned above.
Export market of Antique Furniture Business
The antiques are having a huge international market, thus, considering the export market for antique furniture restoration business is a money-making opportunity. If you are willing to export your antique product then you have to obtain the IEC which is obligatory to export any products.