View Single Post
Old July 3, 2016   #53
bower
Tomatovillian™
 
bower's Avatar
 
Join Date: Feb 2012
Location: Newfoundland, Canada
Posts: 6,793
Default

Worth, the hand built furniture and the Walmart furniture are not really the same product, even though they serve the same function. To make a business of fine furniture, you have to find the right marketplace for it.
As I see it, the big issue with high end furniture as a product, is that every piece is a high ticket item. It is simply the nature of the beast that big ticket items take longer to sell, which means you have to have deep pockets while you're waiting to sell something.
Also the marketplace for these items may be expensive to access (that is, a physical market where you can display your work). The internet can help with that, but then you have the issue that large items must be moved over large distances, and people also want physical contact with the piece before they are certain about spending a lot of money. You would almost be better off looking for a regional market to display your work and build it from there. Once again, you will have costs up front but will have to wait for cash to flow. People who are interested in your work may also ask for custom instead of taking home what is already made. Custom can be tricky and lossy if you're not careful, but it can also be a source of cash flow to keep you going while waiting for sales, and first step to building a clientele. It is a bit of a patience game, but mostly you have to have enough capital in the first place that you don't starve waiting.
IMO one key to a successful business model is to have a range of products which includes lower price points, which will sell quickly and keep some cash flow to the business. In furniture I guess something well made with great materials but simple and small. If you can design an item that is pleasing or unique in some way but you can crank em out and sell the piece under $100 while still paying yourself a wage after materials cost, then some of the people who admire the $2000 piece will scoop up the thing they can afford and be really pleased, and so your name also starts to go around and your work is being displayed in people's homes. Not saying those price points exactly but you get the gist. Small is also beautiful for shipping purposes, so a small item that's a few hundred dollars - say a beautiful lamp for example - could be sold by internet more easily than a dining table. If your pieces have a style that makes them suit or 'match' one another, then the smaller sales will lead to bigger ones.
Hubby I bought this lamp and you should see the living room suite that goes with it...
So I wouldn't say it can't be done, but you have to have capital to get you started, and determination to succeed, and perseverance to wait for cash flow, to go from zero to a viable business of mostly big ticket items.
bower is offline   Reply With Quote