Guys, I intend to start a small scale furniture business in Lagos. I need advice on how to position the furniture business to be profitable.

Between home furniture and office furniture, which do you think will sell fast? Where in Lagos do you think it should be the location of my furniture showroom? What marketing strategies will you suggest to me in order to boost sales? I am starting the business on small scale with start up capital of 500,000 naira only.

Kindly make a suggestion or comments.

Its good you have planned your business.

I think you should venture into household furniture coz you'll have a large consumer base which would have cheaper making costs compared with office furniture which would cost you much to reach your customers.

The location of your business may be determined by how much you can afford for a showroom around the area: a showroom at Lekki will be costlier than that at Iyana Paja, obviously. So, stating how much you have in your budget would help you decide faster.

About marketing strategies; I think you should start with the traditional flyer printing and distributing around the area for awareness and then taking it from there.

edoman2016:
Guys, I intend to start a small scale furniture business in Lagos. I need advice on how to position the furniture business to be profitable.

Between home furniture and office furniture, which do you think will sell fast? Where in Lagos do you think it should be the location of my furniture showroom? What marketing strategies will you suggest to me in order to boost sales? I am starting the business on small scale with start up capital of 500,000 naira only.

Kindly make a suggestion or comments.

Since you are an upstart you will be better off doing home furniture first. The market is wider and entry requirements are lower in terms of quality of finishing etc. There are also many differentincome levels homes to pick from

In my opinion though you should be rather looking at the segment that plays to your passion and creativity first of all before considering the one that gives you more money. Ultimately you will be better off and more successful that way.

braine:
Its good you have planned your business.

I think you should venture into household furniture coz you'll have a large consumer base which would have cheaper making costs compared with office furniture which would cost you much to reach your customers.

The location of your business may be determined by how much you can afford for a showroom around the area: a showroom at Lekki will be costlier than that at Iyana Paja, obviously. So, stating how much you have in your budget would help you decide faster.

About marketing strategies; I think you should start with the traditional flyer printing and distributing around the area for awareness and then taking it from there.

I am thinking of getting an open space in middle class neighborhood such as ilupeju, Ikeja GRA etc. I believe residents in those neighborhood will have the purchasing power to buy good locally made furniture compared to low income neighborhood like Agege, iyana ipaja etc. The cost of renting an open space in those middle class neighborhood in Lagos is too high.

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HOW TO START A FURNITURE COMPANY IN NIGERIA

The furniture sale business is fast becoming one of the biggest businesses in the country with the business having a huge potential and a chance to get entrepreneurs or business owners a good amount of income from the business. The business is not new at all as furnitures and furniture making was pretty popular in the past too as the materials were used to beautify places and add spice and style to a house setting. In recent times, the need for more quality materials has increased and the furniture making has moved from not only just making nice furniture products but also ensuring it is nothing but style.

The furniture sale business simply involves making nice furniture products and putting them out for sale for customers to get them. The business is a lucrative one and is surely going to ensure that entrepreneurs or business owners who start the business make good amount of profits from the business. The business has increasingly grown into something really popular in the business world with customers looking to get quality and well crafted pieces of furniture to place in their homes, offices, or anywhere at all.

Every home needs furnitures and not even homes alone, as furnitures are almost as important as any other thing needed in beautifying a place. It’s almost impossible to not find any piece of furniture at all in homes today. Over the years, the way and style in which furniture materials are being made have changed. With inspiration from online blogs or pictures of nicely crafted products, business owners now look to give their customers new styles and designs which totally makes the setting of wherever they are placed to look really modern.

https://blog.kusnap.com/how-to-start-a-furniture-company-in-nigeria/

When you get our standard furniture business plan with 3 years analysis, what you need to do is to change the name, contact details, company details, founders details and other info to suit your need and present it to anyone (bank, investor, grant competition etc).

Our standard and well detailed furniture business plan comes in MS words and the financial projection comes is in an excel format. This will enable us deliver it to your inbox immediately and you can easily edit it to suit your needs.

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