04 Mar Retail Furniture Manufacturer Business Plan
The $12 billion furniture industry is in production and sales. The industry is focused on the affluent customer with a budget of at least $3,000 for furniture purchases. In Richmond, there are fifteen furniture stores that are competing for these customers with deep pockets. Those customers who can't afford these high prices are left with a poor selection of inferior products.
There are about 50,000 Richmond Metro residents who have modest incomes and do not have access to a furniture shop to meet their furniture needs. The area furniture stores have not responded to the growing population of people with low incomes over the last five years. Targeting customers of modest income is a smart business move. They are expected make up half of the metro population by 2023'#8211; this makes them the fastest-growing segment in the city’s housing market.
Richmond is home to three affordable housing renovation projects. The combined total of 1,500 units will be sold.
As the Richmond Metro section revives, The House of Pine will offer customized, ready-to-finish pine furniture that's hand made and surprisingly affordable. We offer:
- Truly Personalized Furniture: Custom-made furniture for customers. We can customize any piece of furniture or make a completely new piece based on a customer's sketch.
- Heirloom Quality Furniture: The furniture is made to last for generations. It's hand crafted, so each piece is unique.
- Handmade From Quality Pine: Every item is made by a skilled craftsman using only the finest pine. Every piece made from pine is thoroughly checked for any imperfections in texture or grain before being used.
The House of Pine has a simple mission. The customer gets the furniture he/she desires, whether it is one piece or all of it. It will be tailored to fit his/her space, taste and budget.
1.2 Keys To Success
Here are The Keys to Success at The House of Pine
- Offer quality furniture that lasts and is affordable to our customers
- Customer can request to customize any piece.
- If customizing a piece doesn't work out, you can make a new one from scratch to meet your needs.