Where To Sell Offline
If you’ve explored the platforms above and still can’t justify the time or energy it takes to become an online salesperson, your local pawn shops and consignment stores remain classic substitutes. Pretty much any of the aforementioned itemstech, jewelry, home goods and morecould fetch a decent price at one of these shops. It’s probably not your most profitable option, but it may be the quickest way to get cash and can certainly work in a pinch.
Top Home Decor Stores On Instamojo To Take Inspiration From
To inspire you to turn your home decor business idea into reality, here are a few amazing online stores on Instamojo!
1. The KeyBunch
An online store that sells vintage items such as candlesticks, sign boards, coasters, and other home decor items.
2. Little Heaven Decor
Little Heaven Decor sells pieces of home fabrics such as bedsheets and kitchen towels that are as adorable as their brand name.
3. The Upper Room
The Upper Room store is an oasis of colours, patterns, and textures a leading brand in selling home textile products. They have a collection of uniquely handcrafted products.
4. Reaa Home Planner
A full fledged home decor brand, Reaa Home Planner offers interior designing services along with selling decoration items.
Sell Furniture Online: How To Set Up Your Online Store
Now lets pull all of that hard work together. If youve taken the time to develop solid brand guidelines, this part should be a natural extension of that work. Before you actually launch to the world, take time to play around with different configurations and designs. Launching a simple landing page at this stage, along with your social accounts, can help you build an email list so that you can make a big splash at your official site unveiling.
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Customer Experience: Ar 3d And Apps For Furniture Stores
The gradual shift to online shopping was accelerated in 2020 when many businesses were forced to move online and consumer habits trended toward shopping safely from home. We believe these trends are here to stay. And technology is making it easier for furniture stores to offer the showroom experience online.
In 2020, Shopify announced that wed enabled 3D and video file types for all stores. That means you can give your customers a 360-degree view of your product or show the product in motion or in context. For example, a video of a person sitting down on a sofa would demonstrate the level of cushion firmnesssomething that cant be captured in a photo.
Getting your products shot in 3D may be a big upfront cost, but these are versatile image types that can be used over and over in animations and demos. And, 3D models in AR have been shown to increase conversion rates by up to 250% when they appear on product pages.
Diversifying Your Sales Channels
Consider other ways to get your products in front of customers in a crowded market. If youre a maker or designer, can you reach other geographical markets by wholesaling your products? If youre an online-only furniture brand, this may be an easy way to dabble in retail.
Pop-up retail is also a great option for vintage furniture resellers, designers, or makers. Think local outdoor markets or trade shows. Often larger retailers will open in-store pop-up spaces for emerging brands that complement their offerings.
Also consider if any social sales channels or marketplaces are right for your audience. As a furniture maker or vintage reseller, you can integrate your Etsy or eBay sales with Shopify to get the best of both worlds: your own dedicated site and access to potential buyers on marketplaces.
Theres no one-size-fits-all solution to marketing for furniture businesses. A good rule of thumb is having the right message in the right place at the right time. Those factors will depend on who your customer is and where they hang out. Is it more worth your time and money to invest in email marketing or in Facebook ads? Should you try content marketing or Google Ads? Testing is your friend at this stage.
Read Also: Home Decor Business Plan Sample
Diversify Your Product Line
Adding new products to your business is a great way to expand into new markets and grow your business.
It’s important to note that adding new products and diversifying may not be in the cards for you right this moment, and that’s okay. You can always consider it down the road.
Here are some reasons you may want to considering adding/diversifying your product
- Meeting the needs of your customers
- Establish yourself as a top provider in your industry and stay ahead of the game with competition
- Resistance to downturns/trends fading
- Create new revenue streams
Write A Business Plan
Writing a business plan from the start is critical for the success of your home decor business.
Because this allows you to roadmap exactly what you do, what your overall structure will look like, and where you want to be in the future.
For many entrepreneurs, writing out the business plan helps validate their idea and decide whether or not they should move forward with starting the business.
You may want to consider expanding upon these sections in your business plan:
- Executive Summary: Brief outline of your product, the market, and growth opportunities
- Overviews and Objectives: Overview of your business, target customers, and what you need to run your business
- Products and Services: Specifics on the products and services your business will provide
- : Analysis of customer demographics, buyer habits and if your product is in demand
- : Outline of your marketing plan and how you plan to differentiate yourself from other customers
- Competitive analysis: Analysis of your competition and the strengths and weaknesses therein
- Operations: Hierarchal structure of the company and what it will take to run the business on the day-to-day
- Leadership Team: Detailing roles and responsibilities of each manager based on their specific skill-set
- Financial Analysis Understanding of all expenses, operating budgets, and projections for the future.
Learn more about how to write a business plan here
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Setting Up Shop: For Furniture Makers
Paul Trepanier Photography/Timberware
For furniture makers, getting started can be costly if you dont already own tools or have a dedicated workshop. Like Chris, you can start with the basics and expand your toolbox as your business grows.
Chriss advice for setting up your own furniture workshop:
Paul Trepanier Photography/Timberware
Research Methodology Online Home Decor Market
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global online home decor market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global online home decor market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, products portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMRs study on the online home decor market as a primary source.
Online Home Decor Market Segmentation
TMRs study on the global online home decor market includes information categorized into various sections such as by product type, price category, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the online home decor market have been discussed in detail.
Figure 1: Global Online Home Decor Market Projections by Product Type, Million Units, 2018-2030
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How Many Hours A Week Do You Work
Christina: My work load depends on how much Ive sold and how behind I am on listing . But on average, I would say 35-45 hours. Of course, that doesnt include the time spent on social media, which is significant but necessary. Its just like any other jobyou have to put the time in where it counts in order to succeed.
Shipping Returns And Customer Service
Shipping is a massive challenge, says Chris, who admits he hasnt quite perfected it. We have shipped 800-pound dining tables across the country. Its nerve-wracking! For GOODEE, inventory management, fulfilment, and shipping are handled by the brands warehouse partner.
When youre just starting out, you may be managing order fulfilment and shipping yourself. For you, Chris has advice from his own experience:
Returns can be very tricky when youre dealing with oversized items. Be sure that your return policy is very clear. If you do not accept returns, this information should be clearly presented to the customer at the checkout stage and even on the product page. If you are willing to accept returns, establish the terms with your shipping partner up front and let the customer know who will be responsible for the return shipping chargeswhich may be substantial.
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Figure Out Shipping Logistics And Provide Excellent Customer Service
The need to provide a smooth shipping experiencewith fast shipping, easy returns, and low delivery chargesis indisputable today. Why? Its one of the biggest deal-breakers for consumers. 49% of consumers cite extra costs of shipping, taxes, and fees as the primary reason for cart abandonment.
Source: Baymard Institute
But figuring out shipping, making a smooth return process, and keeping your customer in the loop throughout can be a nerve-wracking process.
You might be fulfilling orders yourself in the beginning. But as you scale, it makes more sense to hire a shipping company to be your warehouse partner. Make sure your chosen fulfillment partner has good reviews and has worked with similar companies in your industry. Determine what they charge beforehand so you can factor it in while pricing your product.
Gain consumers trust by elevating product reviews, highlighting quality assurance seals, and making returns and trials easy. Snowes transparent return policy and their detailed FAQ page is a great example.
But theres more to customer service today than just seamless shipping.
Enter: Multichannel and omnichannel retailing.
The pandemic forced many retailers to adapt to multi-channel retailingthe practice of selling merchandise on many different sales channels.
Why Do I Sell Home Dcor Online
The fact that the online home décor and furnishing market is expected to grow by 13% annually over the next five years is a compelling reason why you may want to ride that wave, whether you are a brick-and-mortar home décor store and are looking to expand online, or you want to just sell home décor online. In summary, below are the upsides of selling your products directly on your online home décor store.
First, you can sell home décor online to anyone anywhere anytime. This can boost your sales by leaps and bounds.
Secondly, you can keep your overheads to a minimum while growing your sales.
Thirdly, an online home décor store with the right content can keep your online store at the top of search results pages i.e. higher SEO ranking on search engines like .
Fourthly, many people only shop online. You can reach new audience whom you will not have reached by just selling offline.
Fifthly, you can enhance your customer experience by letting them download product information, answering their feedback, posting how-to videos, webinars, FAQs, etc. from your online home décor store.
Additionally, you may share your posts on social media platforms like , , , , , YouTube, etc. This can funnel your social media visitors and followers back to your online home décor store.
Finally, you can improve your corporate image and brand awareness by having an online presence.
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Raising Money For Your Home Decor Business
Here are the most common ways to raise money for your home decor business:
You may not need funding for your home decor business.
In fact, many entrepreneurs take this approach when starting their own business, whether they have a little amount of cash or a substantial amount to get started.
So what exactly does the term “bootstrapping” mean?
This method essentially refers to self-funding your businesswithout external help or capital and reinvesting your earnings back into the business**
Bootstrapping means building your company from the ground up with your own, or your loved ones, personal savings and reinvesting all earnings back into the business
Here are some tips to consider when bootstrapping your business:
Want to learn more about bootstrapping your business? Check out this article
Launch Your Store In Minutes
There is no sense in wasting your time. Just follow the steps and let the show begin!
It all begins here! Give your home decor store a name, type your e-mail, create a password. No other requirements! Guess what? It is totally free of charge! No credit cards, no suprise payments!
Make it yours
You are the boss here! Choose one of our adorable themes and customize it however you want without any technical knowladge. Fully customizable charming themes. You will love them!
Add your products
Cant wait to meet your brand new products. Release them on your online store just with a few quick steps. Make them more stunning with beautiful images.
The big moment!
Excitement is in the air! Your store now just needs your finishing touches. Then, you can launch your store to whole world! Welcome to online market. Where the shopaholics live!
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How To Name Your Home Decor Business
It’s important to find a catchy name for your home decor business so that you can stand out in your space.
Here are some general tips to consider when naming your home decor business
- Avoid hard to spell names: you want something easy to remember and easy to spell for your customers
- Conduct a search to see if others in the space have the same name
- Try not to pick a name that limits growth opportunities for your business
- As soon as you have an idea of a few names that you love, register the domain name as soon as possible!
Why is naming your home decor business so important?
The name of your business will forever play a role in:
- Your customers first impression
- The power behind the type of customer your brand attracts
- If you’re memorable or not
It’s important to verify that the domain name is available for your home decor business.
You can search domain availability here:
Find a domain starting at $0.88
Although .com names are the most common and easiest to remember, there are other options if your .com domain name is not available. Depending on your audience, it may not matter as much as you think.
It’s also important to thoroughly check if social media handles are available.
As soon as you resonate with a name , secure the domain and SM handles as soon as possible to ensure they don’t get taken.
Here’s some inspiration for naming your home decor business:
- Canary Lane check availability
Is Home Decor A Good Business
After the pandemic lockdown, more people want to make their living arrangements more liveable and work-friendly. As a result, the demand for home decor products online increased significantly.
A report shows that the home decor market in India will reach $27 billion by 2022. Hence, this is a profitable business to be in right now.
Another benefit of starting a home decor business is its high-profit margin. You can keep your profit margins at least 20-25%. Also, you have a wide variety of niches to choose from when it comes to selling home decor online.
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How Do I Pay Myself As A Small Business Owner
Most entrepreneurs start a business to do something they love- but at the end of the day, you still have bills to pay .
But it’s important to strike the right balance – if you pay yourself too much, you could be putting your business at risk.
There are two common ways to pay yourself as a business owner:
1. Owner’s Draw
Many entrepreneurs pay themselves through an owner’s draw. This means that you are technically sean as “self-employed” through the eyes of the IRS and are not paid through regular wages.
At the point that you collect money from the draw, taxes typically are not taken out – so make sure you are prepared to pay these taxes once you file your individual return.
As an owner who takes a draw, you can legally take out as much as you want from your equity.
This type of compensation is suited for Sole props, LLCs, and partnerships. If youre an S corp, you can pay yourself through both a salary and draw if you choose.
If you decide to pay yourself a salary, you will receive a set and recurring amount. This will be taxed by the federal government and the state you reside in.
The reality is that it can be really complicated to set your own salary, so we have some tips for you to consider:
To learn more about how to pay yourself and what is a reasonable amount, check out this article.