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How to Write a Furniture Store Business Plan [Sample Template]

Are you about starting a furniture retail store? If YES, here’s a complete sample furniture retail store business plan template & feasibility report you can use for FREE to raise money . There is hardly any home that does not have one form of furniture or the other.

You will therefore agree that the furniture business over the years have continued to grow in leaps and bounds. This is especially one of the reasons why the industry has continued to be over saturated. This is also one of the businesses that have continued to guarantee good returns on investment.

A Sample Furniture Retail Store Business Plan Template

1. industry overview.

Furniture is a major part of our lives cum facilities; there is hardly any facility that you will come across that you wouldn’t find a piece of furniture in it. This goes to show that the furniture retail stores industry is indeed an important sector of the economy of any country.

Businesses in this industry mainly retail household (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise), outdoor and office furniture (Desks and home office goods, lamps, recliners, rugs and outdoor furniture make up the rest of sales), except those sold in combination with office supplies and equipment.

The Furniture Retail Stores industry is indeed a major sector of the economy of the united states of America which generates a whooping sum of well over billion annually from more than 28,569 furniture retail outlets scattered all around the United States of America.

The industry is responsible for the employment of well over 217,672 people. Experts project the furniture retail store industry to grow at a 2.5 percent annual rate. The establishment in this industry that has a dominant market share in the United States of America are; Ashley Furniture Industries, Inc. and Inter IKEA System BV.

Statistics has it that the largest product segment of the Furniture Stores industry is living room furniture, which accounts for 49.6 percent of revenue in the industry. This subdivision includes coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands.

Prices for products in this subdivision vary considerably depending on brand, style and of course the materials used in making the furniture and they appears to be more expensive than other furniture subdivisions.

As a matter of fact, the high per-unit price of living room furniture has driven growth in this industry, as growing per capita disposable income figures have allowed more consumers to afford living room furniture of which sofas are among the most expensive furniture items sold by operators in the furniture retail stores industry

It is a fact that an estimated two-thirds of the United States’ gross domestic product (GDP) comes from the general retail industry of which the furniture retail stores industry contributes greatly. This is why the United States of America’s economy is measured with the yardstick of how well the retailing business is fairing in the U.S.

In essence, when there is an unstable economy, purchasing power drops and it impacts the retailing / furniture retailing stores industry negatively which may result in the closure of some furniture retail stores.

Over and above, the furniture retail store industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner without owning a furniture making workshop or you can chose to start on a large scale with a standard furniture making workshop and several outlets in key cities through the United States of America and Canada.

2. Executive Summary

Lord Gabby™ Furniture Store, Inc. is a standard and registered furniture retail store business that will be located in one of the busiest streets in Oklahoma City – Oklahoma. We have been able to lease a facility that is big enough (a 15 thousand square foot facility) to fit into the design of the kind of standard furniture retail store that we intend launching and the facility is located in a corner piece directly opposite the largest residential estate in Oklahoma City – Oklahoma.

Lord Gabby™ Furniture Store, Inc. will retail a wide range of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise), outdoor and office furniture (Desks and home office goods, lamps, recliners, rugs and outdoor furniture make up the rest of sales). We are set to services a wide range of clientele in and around Oklahoma City – Oklahoma.

We are aware that there are several large and small chains of furniture retail store outlets all around Oklahoma, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet is well secured with the various payment of options. Lord Gabby™ Furniture Store, Inc. will ensure that all her customers are given first class treatment whenever they visit our furniture retail store.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to. We will ensure that we get our customers involved in the selection of brands that will be on our store and also when making some business decisions.

Lord Gabby™ Furniture Store, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Lord Gabby™ Furniture Store, Inc. is a family business that is owned by Lord Gabby Marcus and his immediate family members. Lord Gabby Marcus has a Diploma in Furniture Making and a B.Sc. in Business Administration, with well over 15 years of experience in the furniture industry, working for some of the leading brand in the United States.

Although the business is launching out with just one outlet in Oklahoma City – Oklahoma, but there is a plan to open other outlets all around major cities in the United States and Canada.

3. Our Products and Services

Lord Gabby™ Furniture Store, Inc. is in the furniture retail stores industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to make available a wide range of furniture from top manufacturing brands in the United States and other countries of the world.

We will do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product offerings are listed below;

  • Retailing of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise),
  • Retailing stationary sofas/sofa-sleepers
  • Retailing bedding
  • Retailing master bedroom furniture
  • Retailing formal dining furniture
  • Retailing entertainment furniture
  • Retailing youth and children’s furniture
  • Retail other furniture.

4. Our Mission and Vision Statement

  • Our vision is to become the leading brand in the furniture retail stores industry in Oklahoma and to establish a one furniture retail store in Oklahoma City and in other key cities in the United States of America and Canada.
  • Our mission is to establish a world – class furniture retail store business that will make available a wide range of furniture from top furniture manufacturing brands at affordable prices to the residence of Oklahoma City – Oklahoma and other key cities in the United States of America and Canada where we intend opening of chains of furniture retail stores and franchise.

Our Business Structure

Lord Gabby™ Furniture Store, Inc. do not intend to start a furniture retail store business like the usual mom and pop business around the street corner; our intention of starting a furniture retail store business is to build a standard and one stop furniture retail store outlet in Oklahoma City – Oklahoma.

Although our furniture retail store business might not be as big as Ashley Furniture Industries, Inc. and Inter IKEA System BV, but will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer (Owner)
  • Store Manager
  • Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

  • Accountants / Cashiers
  • Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Reports to the board

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversees the smooth running of the daily office activities.

Store Manager:

  • Responsible for managing the daily activities in the store
  • Ensures that proper records of furniture are kept and warehouse does not run out of products
  • Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
  • Interfaces with third – party suppliers (vendors)
  • Controls furniture distribution and supply inventory
  • Supervises the workforce in the furniture sales floor.
  • Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
  • Helps to ensure consistent quality of furniture are purchased and retailed in good price that will ensure we make good profit
  • Responsible for the purchase of furniture for the organizations
  • Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
  • Ensures that the organization operates within stipulated budget.
  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer purchases
  • Identify, prioritize, and reach out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Documents all customer contact and information
  • Represents the company in strategic meetings
  • Helps to increase sales and growth for the company
  • Manages the organization website
  • Handles ecommerce aspect of the business
  • Responsible for installing and maintenance of computer software and hardware for the organization
  • Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
  • Manages the organization’s CCTV
  • Handles any other technological and IT related duties.

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization

Client Service Executive

  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
  • Responsible for cleaning all the furniture and the store facility at all times
  • Ensures that toiletries and supplies don’t run out of stock
  • Cleans both the interior and exterior of the store facility
  • Handles any other duty as assigned by the store manager.

6. SWOT Analysis

Our intention of starting just one outlet of our furniture retail store in Oklahoma City – Oklahoma is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over major towns in Oklahoma and key cities in the United States and Canada.

We are quite aware that there are several furniture retail stores all over Oklahoma City and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business. We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Lord Gabby™ Furniture Store, Inc. employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Lord Gabby™ Furniture Store, Inc.;

Our location, the business model we will be operating on both (physical store and online store), varieties of payment options, wide range of furniture and our excellent customer service culture will definitely count as a strong strength for Lord Gabby™ Furniture Store, Inc.

A major weakness that may count against us is the fact that we don’t have our own furniture making factory, we are a new furniture retail store outlet and we don’t have the financial capacity to compete with multi – billion dollars furniture retail store outlets like Ashley Furniture Industries, Inc., Inter IKEA System BV and co when it comes to retailing at a rock bottom prices for all their furniture and products.

  • Opportunities:

The fact that we are going to operate our furniture retail store in one of the busiest streets in Oklahoma City, Oklahoma provides us with unlimited opportunities to sell our furniture to a large number of individuals and corporate organizations.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our furniture store outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new furniture retail outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

  • Market Trends

If you are conversant with the Furniture Stores Industry, you will quite agree that the changes in disposable income, consumer sentiment, ever changing trends and of course the rate of homeownership is major growth drivers for this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Furniture Stores industry.

So also, the rising demand for both home and office furniture, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as furniture stores keep prices low to attract more sales amid growing competition.

A close watch on the industry activities reveals that, the Retail Market for Home Furniture and Bedding was hit hard by the recent economic downturn and experienced a decline in revenue in recent time. As part of

Lastly, in recent time, the furniture retail stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a retailer to reach out to a larger market far beyond the areas where his physical furniture retail store is located.

8. Our Target Market

Perhaps it will be safe to submit that the furniture retail stores industry has the widest range of customers; almost everybody on planet earth has one or more things that they would need in their houses or offices from a furniture retail store. It is difficult to find households and office facilities without one form of furniture or the other.

In view of that, we have positioned our furniture retail store to service the residence of Oklahoma City – Oklahoma and every other location where franchise cum outlets of our furniture retail stores will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to retail a wide range of furniture to the following groups of people and corporate organizations;

  • Bachelors and Spinsters
  • Corporate Executives
  • Business People
  • About to wed couples
  • Corporate Organizations / Offices
  • Government Offices
  • Schools and Students (Library inclusive)
  • Churches and other religious centers

Our Competitive Advantage

A close study of the furniture retail stores industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiffer competition and we are well prepared to compete favorably with other leading furniture retail stores in Oklahoma City – Oklahoma and throughout the United States and Canada.

Lord Gabby™ Furniture Store, Inc. is launching a standard furniture retail store that will indeed become the preferred choice of residence of Oklahoma City – Oklahoma and every other location where our outlets will be opened.

Our furniture retail store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Oklahoma City – Oklahoma. We have enough parking space that can accommodate well over 30 cars / trucks per time.

One thing is certain; we will ensure that we have a wide range of furniture products available in our store at all times. It will be difficult for customers to visit our store and not see the type of furniture that they are looking for. One of our business goals is to make Lord Gabby™ Furniture Store, Inc. a one-stop furniture shop for both household and corporate organizations.

Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups furniture retail stores) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

Lord Gabby™ Furniture Store, Inc. is in business to retail a wide range of furniture to the residence of Oklahoma City – Oklahoma. We are in the furniture retail stores industry to

10. Sales Forecast

One thing is certain when it comes to furniture retail stores, if your store is well stocked with various types of home and office furniture and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Oklahoma City – Oklahoma and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the furniture retail stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Oklahoma City, Oklahoma.

Below is the sales projection for Lord Gabby™ Furniture Store, Inc., it is based on the location of our business and other factors as it relates to furniture retail stores start – ups in the United States;

  • First Fiscal Year-: $150,000
  • Second Fiscal Year-: $450,000
  • Third Fiscal Year-: $1 million

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing same furniture products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

Before choosing a location for Lord Gabby™ Furniture Store, Inc., we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Oklahoma City – Oklahoma. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the furniture retail stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Oklahoma City – Oklahoma.

In order to continue to be in business and grow, we must continue to sell the furniture that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. In summary, Lord Gabby™ Furniture Store, Inc. will adopt the following sales and marketing approach to win customers over;

  • Open our furniture store in a grand style with a party for all.
  • Introduce our furniture store by sending introductory letters alongside our brochure to organizations, households and key stake holders in Oklahoma City – Oklahoma
  • Ensure that we have a wide range of home and office furniture from different brand at all times.
  • Make use of attractive hand bills to create awareness and also to give direction to our furniture store
  • Position our signage / flexi banners at strategic places around Oklahoma City – Oklahoma
  • Position our greeters to welcome and direct potential customers
  • Create a loyalty plan that will enable us reward our regular customers
  • Engage in road shows within our neighborhood to create awareness for our furniture store.
  • List our business and products on yellow pages ads  (local directories)
  • Leverage on the internet to promote our business
  • Engage in direct marketing and sales
  • Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our furniture store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our furniture store.

Lord Gabby™ Furniture Store, Inc. has a long term plan of opening outlets in various locations all around Oklahoma and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Oklahoma City before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Lord Gabby™ Furniture Store, Inc.;

  • Place adverts on community based newspapers, radio stations and TV stations.
  • Encourage the use of word of mouth publicity from our loyal customers
  • Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+  and other platforms to promote our business.
  • Ensure that our we position our banners and billboards in strategic positions all around Oklahoma City – Oklahoma
  • Distribute our fliers and handbills in target areas in and around our neighborhood
  • Contact corporate organizations, households, landlord associations and schools by calling them up and informing them of Lord Gabby™ Furniture Store, Inc. and the products we sell
  • Advertise our furniture store business in our official website and employ strategies that will help us pull traffic to the site
  • Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to furniture stores, it is normal for consumers to go to places (furniture retail outlets) where they can get home and office furniture at cheaper price which is why big player in the furniture stores industry like Ashley Furniture Industries, Inc., Inter IKEA System BV and co will attract loads of corporate and individual clients.

We know we don’t have the capacity to compete with Ashley Furniture Industries, Inc., Inter IKEA System BV and co but we will ensure that the prices and quality of all the furniture products that are available in our store are competitive with what is obtainable amongst furniture stores within our level.

  • Payment Options

At Lord Gabby™ Furniture Store, Inc., Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;

  • Payment by cash
  • Payment via Point of Sale (POS) Machine
  • Payment via online bank transfer (online payment portal)
  • Payment via Mobile money
  • Payment with check from loyal customers

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a furniture store business; it might differ in other countries due to the value of their money. This is the key areas where we will spend our start – up capital;

  • The Total Fee for Registering the Business in Oklahoma City – Oklahoma – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
  • Marketing promotion expenses for the grand opening of Lord Gabby™ Furniture Store, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • Cost for hiring Business Consultant – $2,500.
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
  • Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
  • Cost for Shop remodeling (construction of racks and shelves) – $20,000.
  • Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
  • The cost for Start-up inventory (stocking with a wide range of home and office furniture) – $250,000
  • The cost for counter area equipment – $9,500
  • Cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • Cost of purchase and installation of CCTVs: $10,000
  • The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
  • The cost of launching a Website: $600
  • The cost for our opening party: $7,000
  • Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our furniture retail store in Oklahoma City – Oklahoma. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding / Startup Capital for Lord Gabby™ Furniture Store, Inc.

Lord Gabby™ Furniture Store, Inc. is a private business that is solely owned and financed by Lord Gabby Marcus and his immediate family members. We do not intend to welcome any external business partner, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $250,000 ( Personal savings $200,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Lord Gabby™ Furniture Store, Inc. is to build a business that will survive off its own cash flow without the need of injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of quality home and office furniture a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Lord Gabby™ Furniture Store, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare is well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check:>Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of facility and remodeling the shop: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In Progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress
  • Compilation of our list of products that will be available in our store: Completed
  • Establishing business relationship with vendors – manufacturers and suppliers of home and office furniture: In Progress

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Business Plan Template for Furniture Retailers

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Running a successful furniture retail business requires a solid plan, a clear vision, and a touch of creativity. Whether you're a seasoned retailer or just starting out, ClickUp's Business Plan Template for Furniture Retailers is here to help you create a roadmap for success.

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  • Assisting in securing funding from investors, banks, or other financial institutions
  • Helping you identify potential risks and challenges, enabling you to develop effective strategies to mitigate them
  • Guiding your decision-making process by providing a clear roadmap for your business growth and success
  • Ensuring alignment and communication among your team members and stakeholders
  • Serving as a reference document to track progress and make necessary adjustments to your business strategy.

Main Elements of Furniture Retailers Business Plan Template

ClickUp's Business Plan Template for Furniture Retailers is designed to help furniture retailers create a comprehensive and well-structured business plan. Here are the main elements of this template:

  • Custom Statuses: Track the progress of different sections of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do.
  • Custom Fields: Add relevant information to your business plan using custom fields such as Reference, Approved, and Section. These fields allow you to include specific details and keep your plan organized.
  • Custom Views: Access different views to manage and visualize your business plan effectively. Views like Topics, Status, Timeline, Business Plan, and Getting Started Guide provide different perspectives and allow you to focus on specific aspects of your plan.
  • Collaboration and Planning: Utilize ClickUp's collaborative features to work with your team and stakeholders on your business plan. Assign tasks, set due dates, and add comments to ensure everyone is on the same page.
  • Integration: Seamlessly integrate ClickUp with other tools like Excel, Google Sheets, and more to import and export data, analyze financial projections, and streamline your business planning process.

How To Use Business Plan Template for Furniture Retailers

If you're a furniture retailer looking to create a business plan, ClickUp's Business Plan Template can guide you through the process. Here are five steps to help you get started:

1. Define your business goals and vision

Start by clearly defining your business goals and vision. What do you want to achieve as a furniture retailer? Are you focused on expanding your product line, increasing sales, or entering new markets? This step will help you set a clear direction for your business plan.

Use Goals in ClickUp to set and track your business goals, ensuring that they align with your overall vision.

2. Conduct market research

Next, conduct thorough market research to understand the furniture industry and your target market. Identify your target audience, competitors, and trends that may impact your business. This information will help you make informed decisions and create a strong market strategy.

Use the Gantt chart in ClickUp to create a timeline for your market research activities, including tasks such as competitor analysis and customer surveys.

3. Develop a marketing and sales strategy

Based on your market research, develop a comprehensive marketing and sales strategy. Determine how you will promote your furniture products, reach your target audience, and differentiate yourself from competitors. Consider online marketing, social media, partnerships, and other strategies that align with your target market.

Use the Board view in ClickUp to map out your marketing and sales strategy, creating tasks for each initiative and tracking their progress.

4. Outline your operational plan

An operational plan outlines how your furniture retail business will function on a day-to-day basis. Define your inventory management, supply chain, staffing, and customer service processes. Consider any unique aspects of your business, such as customization options or delivery services, and how they will be implemented.

Use the recurring tasks feature in ClickUp to create a schedule for regular operational tasks, such as inventory audits and staff training.

5. Set financial goals and projections

Finally, set financial goals and projections for your furniture retail business. Determine your target revenue, profit margins, and expenses. Include a detailed budget, cash flow statement, and sales forecast. This step will help you assess the financial viability of your business and secure any necessary funding.

Use the Table view in ClickUp to create and track your financial projections, inputting data such as sales figures, expenses, and profit margins.

By following these steps and using ClickUp's Business Plan Template, you can create a comprehensive and well-structured business plan for your furniture retail business. Good luck!

Get Started with ClickUp’s Business Plan Template for Furniture Retailers

Furniture retailers can use this Business Plan Template to create a comprehensive plan for their business, including goals, strategies, and financial projections.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a successful business plan:

  • Use the Topics View to outline different sections of your business plan, such as executive summary, market analysis, marketing strategy, and financial projections
  • The Status View will help you keep track of the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do
  • Use the Timeline View to set deadlines and milestones for each section of your business plan
  • The Business Plan View will give you a comprehensive overview of your entire plan, allowing you to easily navigate between sections
  • Use the Getting Started Guide View to access helpful resources and tips on how to create a successful business plan
  • Customize the Reference, Approved, and Section custom fields to add additional information and track the status of each section
  • Monitor and analyze your business plan to ensure it aligns with your goals and objectives
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How to write a business plan for your furniture retail shop.

business plan for a furniture shop

Starting a furniture shop is a great way to capitalize on the ever-growing demand for quality, stylish furniture.

It also offers a great opportunity to build relationships with customers by providing them with personalized service and advice.

Don't start without having built a business plan though.

A business plan is essential for any new project, as it helps to provide clarity and direction by outlining the objectives, strategies, and financials of the venture. Developing a business plan before launching a furniture shop can help to ensure its success.

In short, a good business plan will help ensure the profitability of your furniture retail business .

What should be included in the business plan of a furniture shop? What's the ideal arrangement for the structure? What are the key financial ratios to consider? What techniques can I use to simplify the task of writing a business plan?

Exciting news! The forthcoming article holds all the answers to these questions!

Also, please note that starting your business plan from scratch is not mandatory.

Instead, you can download our business plan for a furniture shop and modify it to meet your specifications.

business plan furniture store

How to craft an elaborate business plan for a furniture shop

Will a business plan be beneficial for your furniture retail store business.

Yes, you should create a business plan to help guide your furniture retail store business.

Crafting a well-structured business plan will help you to:

  • get familiar with the furniture retail store market
  • catch up with the new industry developments
  • pinpoint what makes a furniture shop successful
  • understand the furniture styles, material preferences, and home decor needs of customers
  • come up with a winning value proposition for your home furnishings store
  • monitor competitor activities and tactics
  • find competitive advantages for your furniture retail store business
  • find a business model that will lead to a positive bottom line
  • craft and execute a winning strategy that encompasses short and long-term objectives
  • assess potential risks involved in operating a furniture retail store, such as inventory management, customer satisfaction, and market competition

Our team has drafted a business plan for a furniture shop that is designed to make it easier for you to achieve all the elements listed.

How to structure a business plan for a furniture shop?

Your business plan encompasses plenty of useful information and details. It needs to be organized so that it can be easily read and understood.

When we built and designed our business plan for a furniture shop , we took care to arrange it appropriately.

There are 5 separate sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The section at the beginning is called "Market Opportunity."

Our team has compiled vital data and metrics about the furniture retail store business, providing insights and trends for entrepreneurs in the home furnishing industry.

We constantly update all the data to ensure freshness.

2. Project Presentation

In the "Project" section, you can describe your furniture retail store business, including the range of furniture styles and categories you offer, quality craftsmanship, sustainable sourcing practices, personalized design assistance, delivery and assembly services, and the unique value proposition that creates stylish and functional living spaces for customers.

Also, provide a self-introduction at the end of this section.

Discuss your understanding of the furniture industry, your ability to curate stylish and high-quality furniture collections, and how you plan to create a delightful shopping experience for customers. Highlight your commitment to offering diverse furniture options, your expertise in interior design and space planning, and your dedication to exceptional customer service that helps customers find the perfect pieces to enhance their homes or spaces.

We've written descriptions for you. You can keep them as is or customize them to match your business idea perfectly.

3. Market Research

Moving on, there's the "Market Research" section.

This section describes the target audience for your furniture retail store business.

It includes a comprehensive analysis of competitors in the furniture industry and emphasizes your store's unique furniture selections and competitive advantages.

A tailored SWOT analysis is provided as well.

4. Strategy

In the "Strategy" section, you will find a detailed growth plan for your furniture retail store business, outlining all the necessary steps and initiatives to ensure its high profitability.

Additionally, this section encompasses a comprehensive marketing plan for a furniture shop, a strategy to handle risks, and a filled-in Business Model Canvas.

5. Finances

Ultimately, the "Finances" section provides a comprehensive view of the financial aspects and metrics of your project.

business plan furniture retail store business

How to draft an Executive Summary for a furniture shop?

The Executive Summary provides an initial glimpse into the business plan of your furniture retail store business.

Don't go beyond 2 pages; emphasize only the significant points.

This document is meant to get the reader interested in your business plan.

In the Executive Summary of your furniture retail store business, address the following queries: what types of furniture do you sell in your retail store? who is your target market? who are your competitors in the furniture industry? how do you differentiate from them? what is your budget?

How to do the market analysis for a furniture shop?

The market study of your furniture retail store business helps you understand external factors such as customer preferences for furniture styles, competition within the furniture industry, and emerging trends in interior design.

By conducting an extensive market study, a furniture shop can understand consumer preferences, offer a diverse selection of high-quality furniture, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal customer base, increased sales, and a prominent position in the local furniture market.

Here is what what we've put in the "Market Research" section of our business plan for a furniture shop :

  • interesting data points and market insights about furniture retail stores, including furniture sales trends, home decor preferences, and the growth of online furniture shopping
  • a list of potential customer segments for a furniture shop
  • the competitor analysis
  • the competitive advantages to build for a furniture shop

business plan furniture retail store business

The key points of the business plan for a furniture shop

What's the business model of a furniture shop, business model of a furniture shop.

A furniture retail store's business model centers around selling a range of furniture and home decor items to consumers. Revenue is generated through product sales, potentially offering delivery services or interior design consultations.

The business model focuses on curating a stylish and diverse furniture selection, providing a visually appealing store layout, effective marketing and merchandising strategies, knowledgeable sales staff, and building strong customer relationships through exceptional service and product recommendations.

Success depends on understanding customer preferences and interior design trends, establishing relationships with furniture suppliers or manufacturers, maintaining competitive pricing, and creating an engaging and comfortable shopping experience for customers.

Business model vs Business plan

Business plan and "business model" are not interchangeable, so be careful.

A business model outlines the way a company creates value, generates revenue, and operates.

In a business plan, you explain your business model utilizing a tool known as the Business Model Canvas.

Rest assured, we offer a completed Business Model Canvas in business plan for a furniture shop .

How do you identify the market segments of a furniture shop?

Market segmentation for your furniture retail store business involves dividing your potential customers into different groups based on their furniture needs, preferences, and budget.

These categories may include factors such as residential furniture, office furniture, affordable options, or customers seeking specific furniture styles (e.g., modern, traditional, Scandinavian).

By segmenting your market, you can offer a range of furniture products and services that cater to each segment's specific requirements. For example, you might provide a diverse selection of residential furniture for homeowners and renters, offer office furniture solutions for businesses and professional settings, focus on providing affordable furniture options for price-conscious customers, or develop curated collections of furniture in different styles to cater to various design preferences.

Market segmentation allows you to effectively target your marketing efforts, create inviting furniture displays, and provide a satisfying and personalized furniture shopping experience that meets the unique needs and preferences of each customer segment.

In the business plan for a furniture shop , you will find a comprehensive market segmentation that helps you know and understand your customers.

How to conduct a competitor analysis for a furniture shop?

It's clear that you won't be the only furniture retail store business in your market. There are other retailers offering a wide selection of furniture for homes and businesses.

To develop a successful business plan, it is crucial to conduct a thorough analysis of your competitors, assessing their attributes, strengths, and weaknesses.

Take note of their weaknesses (such as limited product range, poor customer service, or inadequate inventory management).

Why is it important to address these concerns? Because these weaknesses can impact the customer experience when shopping at furniture retail stores.

By focusing on these areas, you can offer a wide selection of quality furniture, provide personalized design assistance, and deliver seamless delivery and installation services, establishing your furniture retail store business as a one-stop destination for stylish and functional home furnishings.

It's what we call competitive advantages—develop them to make your business stand out.

Here are some examples of competitive advantages for a furniture shop: diverse selection of high-quality furniture, stylish and contemporary designs, competitive pricing, personalized furniture consultations, efficient delivery and assembly services, customer loyalty programs.

How to draft a SWOT analysis for a furniture store?

A SWOT analysis can help identify strengths, weaknesses, opportunities, and threats in order to better plan and strategize for a successful furniture retail store business.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a furniture shop

The strengths for a furniture shop

The letter "S" denotes Strengths in SWOT, signifying the project's internal advantages or areas of expertise.

For a furniture shop, potential strengths could include an experienced sales team, a wide variety of furniture styles, a convenient location, and competitive pricing.

The weaknesses for a furniture shop

The "W" in this context stands for Weaknesses, which are the parts of the project that could be better.

For a furniture shop, potential weaknesses include high overhead costs, limited customer base, lack of online presence, and difficulty competing with large chain stores.

The opportunities for a furniture shop

The letter "O" in SWOT stands for Opportunities, signifying the potential advantages or favorable conditions for the project.

In the case of a furniture shop, potential opportunities could include offering online sales, partnering with interior designers, developing a loyalty program, and providing rental services.

The threats for a furniture shop

T represents Threats in SWOT, referring to the external factors or circumstances that can pose risks or challenges to the project's goals.

How to elaborate a marketing strategy for a furniture store?

A marketing strategy is a key element of a business plan as it explains how a business will capture customers and achieve sales targets.

Developing an effective marketing plan will help your furniture retail store business reach potential customers in search of stylish and high-quality furniture pieces.

Furniture shoppers won't visit your retail store business without effective promotion; showcasing the quality, style, and affordability of your products is necessary.

Have you considered creative marketing initiatives to promote your furniture retail store business? Organize interior design workshops or seminars, collaborate with local home decor influencers for brand partnerships, and utilize social media platforms to showcase your stylish furniture collections.

No need to worry if you have no understanding of marketing and communication.

How to build a solid financial plan for a furniture store?

A successful business plan requires comprehensive financial data in order to accurately forecast future performance.

When constructing your business plan, it is crucial to incorporate revenue projections for your furniture retail store business.

Potential investors will feel more confident in your business plan if the revenue projections are based on sensible and well-founded assumptions that they can understand.

Our financial plan for a furniture shop is easy to use and includes built-in checks to help you identify and correct any assumptions, ensuring you create reliable projections with confidence.

It goes without saying that you should create a preliminary budget for launching your furniture retail store business. Don't overlook any expense. By the way, we've listed them all in our financial plan!

The break-even analysis is an essential component of your financial plan, as it provides an indication of whether your furniture retail store business will be profitable or not.

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How To Write a Business Plan for Furniture Retail Store in 9 Steps: Checklist

By henry sheykin, furniture store bundle.

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Are you dreaming of opening a furniture retail store? With the growing demand for stylish and high-quality furniture, now is the perfect time to turn your passion into a profitable business. But before you dive in, it's crucial to have a well-crafted business plan that will guide you every step of the way. In this blog post, we will take you through the nine essential steps to writing a business plan for your furniture retail store.

According to recent statistics, the furniture retail industry has been experiencing steady growth, with an annual revenue of over $111 billion in the United States alone. This promising growth trend indicates a high demand for quality furniture, presenting a lucrative opportunity for aspiring entrepreneurs like you.

Now let's dive into the steps you need to take to write an effective business plan for your furniture retail store.

  • Conduct Market Research: Understand your target market's preferences, purchasing habits, and trends to identify opportunities and tailor your offerings accordingly.
  • Define Your Target Audience: Determine the specific demographics, interests, and needs of the customers you want to attract.
  • Identify Your Competitors: Analyze the competition in your area to understand their strengths and weaknesses and find ways to differentiate yourself.
  • Determine Your Unique Selling Proposition: Highlight what sets your furniture retail store apart from others, whether it's personalized customization options, top-notch customer service, or exclusive partnerships with designers.
  • Develop a Pricing Strategy: Consider factors like customer affordability, competitor pricing, and profit margins to set competitive and sustainable prices for your furniture pieces.
  • Analyze Your Operational Needs: Determine your inventory management, staff requirements, and store layout to ensure smooth day-to-day operations.
  • Estimate Startup Costs and Create a Budget: Calculate the expenses involved, such as store lease, inventory, equipment, marketing, and staff salaries, and create a detailed budget to help you stay on track.
  • Secure Funding Options: Explore different financing options, such as loans, investors, or personal savings, to cover your startup costs and future growth.
  • Create a Marketing and Sales Plan: Outline your strategies to attract customers, whether through social media advertising, local partnerships, or word-of-mouth referrals, as well as how you will convert leads into sales.

By following these nine steps, you'll have a comprehensive business plan that will set you up for success in the furniture retail industry. Remember, your business plan is not set in stone and can be adjusted as needed. So, get ready to embark on your entrepreneurial journey and bring stylish furniture to the homes of your customers!

Conduct Market Research

Market research is an essential step in starting a furniture retail store. It involves gathering information about your target market, understanding industry trends, and identifying potential opportunities and challenges. By conducting thorough market research, you can make informed decisions about your business strategy and better position yourself in the market.

Here are some important considerations when conducting market research for your furniture retail store:

  • Identify your target audience: Determine the demographics and characteristics of your ideal customers. Consider factors such as age, income, lifestyle, and preferences when defining your target audience.
  • Understand industry trends: Stay updated on the latest trends in the furniture industry, including popular styles, materials, and design preferences. This knowledge will help you offer products that are in demand and appeal to your target market.
  • Analyze customer needs and preferences: Conduct surveys, interviews, or focus groups to gather insights on what customers look for in furniture, including their preferred features, price range, and purchasing habits.
  • Identify your competitors: Research existing furniture retail stores in your area and analyze their offerings, pricing strategies, and customer reviews. This will help you identify gaps in the market and differentiate your store from the competition.
  • Evaluate market size and potential: Determine the size of your target market and assess its growth potential. This will help you estimate the demand for your products and make projections for future sales.
  • Utilize online resources, such as industry reports, market analysis websites, and social media platforms, to gather market data and insights.
  • Visit furniture trade shows and exhibitions to observe current trends and connect with suppliers and manufacturers.
  • Consider conducting a pilot test or soft launch to gather feedback from potential customers before fully launching your store.

By conducting comprehensive market research, you will gain valuable knowledge about your target market, competitors, and industry trends. This information will serve as a foundation for developing an effective business strategy and positioning your furniture retail store for success.

Furniture Store Financial Model Get Template

Define Your Target Audience

Defining your target audience is a crucial step in creating a successful business plan for your furniture retail store. Knowing who your customers are will allow you to tailor your products and services to meet their specific needs and preferences, ultimately increasing your chances of attracting and retaining loyal customers.

When defining your target audience, consider factors such as demographics, psychographics, and buying behaviors. Demographics include characteristics such as age, gender, income, and location, while psychographics focus on customers' interests, values, and habits. Understand what motivates your customers to buy furniture and how they make purchasing decisions.

Tips for Defining Your Target Audience:

  • Research existing customers and analyze their characteristics and preferences.
  • Utilize market research tools to gather data on consumer trends and preferences.
  • Consider conducting surveys or focus groups to gain additional insights about your target audience.
  • Identify any gaps or untapped opportunities in the market that align with your products and services.
  • Stay up-to-date with industry trends and changes in consumer behavior to ensure your target audience remains well-defined.

By clearly defining your target audience, you can develop effective marketing strategies, create compelling advertising campaigns, and offer products and services that resonate with your customers. This understanding will also help you refine your brand's messaging and positioning, ensuring your retail store stands out in a competitive market.

Identify Your Competitors

Identifying your competitors is an essential step in creating a successful business plan for your furniture retail store. By understanding who your competitors are and what they offer, you can position your store to stand out in the market and attract customers.

When identifying your competitors, consider both direct and indirect competitors. Direct competitors are other furniture retail stores that offer similar products and target the same customer base as your store. Indirect competitors may include online furniture retailers, home decor stores, or even secondhand furniture sellers. By considering all types of competitors, you can gain a comprehensive understanding of the market landscape and adjust your strategies accordingly.

Here are a few tips to help you identify your competitors:

Online research:

Visit competitors' stores:, talk to customers:, attend trade shows and industry events:, utilize social media:.

Once you have identified your competitors, analyze their strengths and weaknesses. This analysis will help you determine how you can differentiate your furniture retail store and provide unique value to your target audience. Use this information to develop strategies to position your store in the market and attract customers.

Determine Your Unique Selling Proposition

Once you have conducted market research and identified your target audience and competitors, it's crucial to determine your unique selling proposition (USP) for your furniture retail store. Your USP sets you apart from your competitors and helps you attract customers by offering something different or better than what is available in the market. Here are some important factors to consider in determining your USP:

  • Quality and Variety: Highlight the high-quality and wide range of furniture pieces you offer in your store. Emphasize the durability and craftsmanship that sets your furniture apart from others.
  • Customization Options: Stand out by offering customers the ability to customize their furniture. This could include selecting different styles, fabrics, and colors to create a unique and personalized piece.
  • Design Consultation Services: Differentiate yourself by providing design consultation services to assist customers in finding the perfect furniture for their home. Offer expert advice on choosing the right pieces that complement their style and space.
  • Convenience: Highlight the convenience factor by offering delivery and installation services. Make the furniture buying experience as easy and hassle-free as possible for your customers.
  • Conduct customer surveys to understand what features or benefits they find most valuable in a furniture retail store. Use this feedback to refine and enhance your USP.
  • Keep an eye on the latest industry trends and incorporate them into your USP to stay ahead of the competition.
  • Consider offering exclusive discounts or promotions to further differentiate your store from others.
  • Emphasize exceptional customer service as a part of your USP. Make sure customers feel valued and appreciated throughout their shopping experience.

By determining your unique selling proposition and effectively communicating it to your target audience, you will be able to attract customers and establish a strong presence in the furniture retail market.

Develop A Pricing Strategy

Developing a pricing strategy for your furniture retail store is crucial for both attracting customers and maximizing your profitability. Here are some important steps to consider when developing your pricing strategy:

  • Research your target market: Before setting your prices, it's essential to understand the purchasing power and preferences of your target audience. Look into their income levels, spending habits, and what they are willing to pay for quality furniture.
  • Analyze competitors' pricing: Take the time to research and analyze the pricing strategies of your competitors. This will give you a better sense of the market benchmark and help you position your prices competitively.
  • Determine your costs: Calculate all your costs, including inventory, rent, utilities, salaries, and any other expenses associated with running your furniture retail store. This will help you establish a baseline for setting prices that cover your expenses and ensure profitability.
  • Evaluate your value proposition: Consider the unique features and benefits your furniture store offers. Are you providing high-quality, customizable furniture options? Do you offer exceptional customer service? Determine how these factors contribute to the value you provide to customers and adjust your pricing accordingly.
  • Establish pricing tiers: Segment your furniture offerings into different price tiers to cater to a variety of customer budgets. This will allow you to target different customer segments and provide options that align with their price expectations.
  • Consider discounts and promotions: Decide whether or not to offer discounts or promotions to attract customers and create a sense of urgency. Determine if you can absorb the discount within your profit margins and ensure it doesn't devalue your furniture brand.
  • Regularly review and adjust prices: As your business evolves and market dynamics change, it's crucial to regularly review and adjust your prices. Monitor customer feedback, sales performance, and industry trends to stay competitive and maximize profitability.
  • Offer bundle pricing: Create attractive packages or bundles that offer a discount when customers purchase multiple furniture pieces together.
  • Consider a value-based pricing approach: Instead of solely relying on costs, set prices based on the perceived value your furniture brings to customers' homes.
  • Monitor competitor pricing regularly: Keep an eye on your competitors' pricing strategies to ensure your prices remain competitive.

Analyze Your Operational Needs

Before opening your furniture retail store, it is crucial to analyze your operational needs to ensure smooth and efficient business operations. This step involves assessing various aspects of your business, including:

  • Inventory Management: Determine how you will manage and track your inventory to ensure you have the right furniture pieces in stock for your customers. Consider investing in reliable inventory management software to streamline this process.
  • Supplier Relationships: Establish strong relationships with reliable suppliers who can provide you with high-quality furniture pieces at competitive prices. Conduct thorough research to find suppliers that align with your business goals and values.
  • Staffing Needs: Determine the number and type of staff members you will need to effectively run your store. Consider hiring knowledgeable sales associates who can provide excellent customer service and design consultants who can assist customers in finding the perfect furniture pieces.
  • Store Layout and Design: Create a functional and visually appealing store layout that allows customers to easily navigate and view the furniture options. Consider the placement of displays, checkout counters, and fitting rooms, if applicable.
  • Operating Hours: Decide on your store's operating hours based on your target audience's preferences and habits. Consider offering extended hours on weekends or during busy shopping seasons to accommodate customer needs.
  • Delivery and Installation Services: Determine how you will handle the delivery and installation of furniture for your customers. Consider offering these services in-house or partnering with reputable third-party companies to ensure a seamless customer experience.
  • Regularly monitor and analyze your inventory to identify popular furniture pieces and adjust your stock accordingly.
  • Train your staff to provide expert product knowledge and excellent customer service to enhance the overall shopping experience.
  • Continuously evaluate and optimize your store layout to maximize space utilization and create an inviting atmosphere.
  • Consider offering additional services such as furniture assembly or furniture customization to attract more customers.

Estimate Startup Costs And Create A Budget

Estimating your startup costs and creating a comprehensive budget is a critical step in starting your furniture retail store. This process will help you determine the amount of funding you will need and ensure that you have enough resources to get your business up and running smoothly. Here are some important considerations to keep in mind:

  • 1. Identify your initial costs: Start by identifying all the necessary expenses to launch your furniture retail store. These may include costs such as store lease or purchase, renovations or remodeling, initial inventory, fixtures and displays, technology and equipment, licensing and permits, and professional services fees.
  • 2. Research ongoing expenses: Consider the ongoing expenses that you will need to cover on a monthly basis. These may include rent or mortgage payments, utilities, insurance, employee salaries, marketing and advertising costs, inventory replenishment, and maintenance expenses.
  • 3. Seek competitive quotes: When estimating your startup costs, it's important to seek competitive quotes from vendors and suppliers. Compare prices and negotiate to get the best possible deals. This will help you keep your costs in check and maximize your budget.
  • 4. Allocate contingency funds: It's essential to factor in contingency funds to cover unexpected expenses or emergencies. Aim to set aside around 10-20% of your total startup costs as a contingency reserve. This will provide a safety net and prevent any major financial setbacks.
  • 5. Create a detailed budget: Once you have estimated your startup costs and ongoing expenses, create a detailed budget. Break down your costs into different categories, such as marketing, operations, inventory, and staffing. Assign a realistic budget to each category and ensure that your total expenses do not exceed your projected revenue.

Tips for estimating startup costs and creating a budget:

  • Research industry benchmarks and average costs to ensure your estimates are accurate.
  • Consider seeking guidance from a financial advisor or accountant to help you create a realistic budget.
  • Regularly review and update your budget as your business grows and evolves.
  • Explore cost-saving measures, such as leasing equipment instead of purchasing or negotiating favorable terms with suppliers.

Estimating your startup costs and creating a budget is a vital part of starting a furniture retail store. It will not only help you secure funding but also enable you to proactively manage your finances and make informed business decisions. By carefully considering all your expenses and creating a comprehensive budget, you'll set yourself up for success in the competitive furniture retail market.

Secure Funding Options

Once you have estimated your startup costs and created a budget for your furniture retail store, the next step is to secure funding options. This is a crucial step in starting your business, as it will determine how you will finance your startup costs and ongoing expenses.

Here are some important funding options to consider:

  • Personal Savings: Using your own savings is a common method for funding a new business. It allows you to have full control over your financial decisions and avoids the need for external investors.
  • Bank Loans: Approach banks or financial institutions to explore the possibility of obtaining a business loan. Be prepared to provide a detailed business plan and financial projections to demonstrate the viability of your business.
  • Investors: Seek out potential investors who may be interested in your furniture retail store concept. This may include friends, family members, or angel investors who believe in your business idea and are willing to provide the necessary funding.
  • Crowdfunding: Consider utilizing crowdfunding platforms, such as Kickstarter or Indiegogo, to raise funds from a larger pool of individual contributors who are passionate about supporting businesses like yours.
  • Grants and Government Programs: Research and apply for grants and government programs that provide funding specifically for small businesses in the retail sector. These funding options often come with specific eligibility criteria and requirements, so make sure to carefully review the application process.
  • Prepare a comprehensive business plan and financial forecast to present to potential investors and lenders. This will help them understand the potential return on investment and the viability of your business.
  • Consider seeking expert advice from financial professionals or business consultants to assist you in navigating the funding options available and determining the best fit for your business.
  • Be prepared for potential rejections or delays in securing funding. It is common for businesses to face obstacles when seeking funding, so persistence and strategic planning are key.

Securing funding options for your furniture retail store is a critical step in turning your business idea into a reality. By exploring different avenues and choosing the right funding option for your specific needs, you can ensure that you have the necessary resources to successfully launch and operate your store.

Create A Marketing And Sales Plan

Once you have identified your target audience and established your unique selling proposition, it's time to create a comprehensive marketing and sales plan to promote and sell your furniture.

1. Develop a branding strategy: Start by creating a strong and memorable brand identity for your furniture retail store. This includes designing a logo, choosing a color scheme, and developing a brand message that resonates with your target audience.

  • Consider hiring a professional graphic designer to create a visually appealing and cohesive brand identity.
  • Ensure that your branding is consistent across all marketing materials, including your website, social media profiles, and physical store.

2. Create a marketing plan: Outline the different marketing strategies you will utilize to reach your target audience and promote your furniture store. This may include online marketing tactics such as search engine optimization (SEO), social media marketing, email marketing, and online advertising. It can also include offline marketing strategies like print advertisements, direct mail campaigns, and participating in local events or trade shows.

  • Focus on digital marketing channels as they provide a cost-effective way to reach a large audience.
  • Leverage social media platforms like Facebook, Instagram, and Pinterest to showcase your furniture pieces and engage with potential customers.
  • Consider partnering with local home decor influencers or interior designers to promote your store.

3. Implement a sales strategy: Determine the sales channels and tactics you will employ to sell your furniture. This may include selling through your physical store, launching an e-commerce website, or partnering with other retailers to reach a broader customer base.

  • Train your sales team to provide exceptional customer service and product knowledge.
  • Offer promotional deals or discounts to incentivize customers to make a purchase.
  • Consider implementing a customer loyalty program to encourage repeat business.

4. Measure and analyze results: Regularly track and analyze the effectiveness of your marketing and sales efforts. Monitor key performance indicators such as website traffic, conversion rates, customer feedback, and sales data. Use this data to make data-driven decisions and optimize your marketing and sales strategies.

  • Utilize analytics tools like Google Analytics to gain insights into your website performance and user behavior.
  • Collect customer feedback through surveys or reviews to understand their preferences and improve your offerings.

By creating a well-thought-out marketing and sales plan, you can effectively promote and sell your high-quality furniture pieces, attract your target audience, and ultimately drive business success.

In conclusion, writing a business plan for a furniture retail store is an essential step in ensuring your success in this competitive industry. By following the 9 steps outlined in this checklist, you can lay a solid foundation for your business and increase your chances of attracting and retaining customers. Remember to conduct thorough market research, identify your target audience, and analyze your competition to develop a unique selling proposition that sets your store apart. Additionally, developing a pricing strategy, estimating startup costs, and securing funding options are crucial for financial success. Finally, creating a comprehensive marketing and sales plan will help you promote your store and generate sales. With proper planning and execution, your furniture retail store can thrive in today's market.

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Executive Summary of a Furniture Store: Template & Example

Avatar photo

  • May 15, 2024
  • Business Plan , Executive Summary

Executive Summary slide exampleof a Furniture Store business plan

A furniture store business plan needs a straightforward executive summary . This part of your plan is the first thing investors and partners see, and it should clearly outline what your furniture store is all about. It’s where you explain what makes your furniture store different and worth investing in.

We recommend using a two-slide PowerPoint format for this summary. The first slide should cover the basics of your business and the market you’re entering. Here, you detail your furniture store’s products, location, and what sets you apart from others. The second slide focuses on your management team and your financial plans, highlighting the people behind the business and how you expect the furniture store to grow financially.

This simple, two-slide approach ensures that your executive summary is easy to follow and covers all the essential points about your furniture store business.

the business plan template for a furniture store

Furniture Store Business Plan

furniture retail store business plan

Fully editable 30+ slides Powerpoint presentation business plan template.

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Furniture Store Executive Summary: Page 1

Executive Summary slide exampleof a Furniture Store business plan

Business Overview

The business overview section of your executive summary serves as a window into your furniture store’s essence. It encapsulates pivotal details such as your store’s name, its strategic location, and an overview of the furniture selections it offers.

Moreover, this section serves as a platform to underscore your store’s unique selling proposition (USP), elucidating what distinguishes it from competitors. Whether your store specializes in sustainable materials, artisan-crafted pieces, or bespoke design solutions, articulating your USP captures the attention of stakeholders and underscores the distinct value proposition of your furniture store.

Example: For instance, “EcoLux Furniture,” nestled in the heart of [City/Area], occupies a spacious [X,000] sq ft showroom in [Describe the location’s characteristics]. Our store showcases an extensive array of contemporary furnishings, ranging from sleek sofas to elegant dining sets, with a distinct emphasis on sustainable materials and artisan craftsmanship. Our USP lies in curating furniture pieces that blend luxury with eco-consciousness, offering discerning customers the perfect blend of style and sustainability.

Market Overview

Understanding the broader market landscape is imperative for positioning your furniture store strategically. The market overview section of your executive summary delineates the size, growth trajectory, and local dynamics of the furniture retail sector.

Furthermore, it elucidates prevailing consumer trends and the competitive landscape , providing a comprehensive outlook on where your furniture store fits within the market ecosystem.

Example: EcoLux Furniture operates in the burgeoning US furniture retail industry, valued at a staggering $147 billion, with a projected CAGR of +3.98% from 2024 to 2028. Situated in [City/Area], our store capitalizes on [Describe the local market dynamics], catering to a clientele that values premium craftsmanship and sustainable living. We anticipate tapping into the rising demand for customizable, eco-friendly furniture pieces, offering consumers a sophisticated yet conscientious shopping experience.

Furniture Store Executive Summary: Page 2

Executive Summary slide exampleof a Furniture Store business plan

Management Team

The success of your furniture store hinges on the expertise and acumen of its leadership team. The management team section of your executive summary spotlights the key individuals driving your store’s vision and operations.

Highlighting their relevant qualifications, industry experience, and strategic contributions imbues confidence in potential investors and partners, assuring them of your furniture store’s capability to navigate the competitive landscape and achieve sustained growth.

Example: At EcoLux Furniture, our leadership team comprises seasoned professionals dedicated to excellence in every facet of our operations. With a background in [mention relevant fields], our team brings a wealth of experience in [describe pertinent areas, e.g., retail management, interior design], ensuring the seamless execution of our vision. Led by [Founder/CEO’s Name] and supported by a cadre of passionate experts, we are committed to pioneering sustainable luxury in the furniture retail sector.

Financial Plan

The financial plan section offers a glimpse into the fiscal roadmap of your furniture store, elucidating your revenue targets, profit margins, and strategic initiatives for financial growth.

By outlining your financial projections and delineating the strategies underpinning revenue generation, this section provides stakeholders with a comprehensive understanding of your furniture store’s financial viability and growth potential.

Example: EcoLux Furniture aims to achieve an annual revenue of $4.2 million with a commendable profit margin of 7% ( EBITDA ) by 2028. Our financial strategy encompasses prudent investments in inventory management, marketing initiatives , and operational enhancements, poised to drive sustained revenue growth and profitability. With a focus on delivering exceptional value to our customers while upholding our commitment to sustainability, we are poised to emerge as a leading destination for discerning furniture enthusiasts seeking luxury with a conscience.

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Business-in-a-Box's Furniture Retail Store Business Plan Template

Furniture Retail Store Business Plan Template

Document description.

This furniture retail store business plan template has 30 pages and is a MS Word file type listed under our business plan kit documents.

Sample of our furniture retail store business plan template:

[YOUR COMPANY NAME] Business Plan [YOUR NAME] [YOUR ADDRESS] [YOUR CITY/ STATE /PROVINCE/ ZIP CODE] [YOUR PHONE NUMBER] [YOUR FAX NUMBER] [YOUR [email protected]] 2010

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Retail Furniture Manufacturer Business Plan

Start your own retail furniture manufacturer business plan

The House of Pine

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Producing and selling furniture is a $12 billion industry.  The focus of the industry is on the affluent customer who can spend upwards to $3,000 on 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.

In the Richmond Metro area, there are approximately 50,000 residents with modest incomes that do not have a furniture store to caters to their needs for affordable quality furniture. This income demographic has grown tremendously over the past five years but has not been responded to by the area furniture stores. Targeting customers with modest incomes is good business. They are expected to make up half of metro population by 2020–making them the fastest-growing segment of the city’s housing market.

There are three modest-income housing renovation projects underway in Richmond with a combined total of 1,500 units that will be sold as affordable housing.

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 Custom Furniture: An unfinished furniture piece that is crafted for the customer. We’ll customize any piece or create a whole new piece from a customer’s rough 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 piece is made by a professional craftsman from the finest pine available. Every piece of pine is checked for grain and texture before it’s used.

Retail furniture manufacturer business plan, executive summary chart image

1.1 Mission

The House of Pine’s Mission is simple. The customer gets what he/she wants; furniture (one piece or a whole house full) that fits the customer’s space, taste, budget and style preference, from top to bottom!

1.2 Keys to Success

The Keys to Success for The House of Pine are as follows:

  • Offer our customers affordable quality furniture that will last.
  • Customize any piece as requested by a customer.
  • And if customizing a piece won’t quite work, create a whole new piece from scratch, exactly to the customer’s specifications.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

The House of Pine will offer customized, ready-to-finish pine furniture that’s hand made and surprisingly affordable. Our target customers are young families and young adults with modest incomes who are looking for the same selection and quality that the high-end customer receives. Each piece is handcrafted from the finest pine and built to last for generations.

2.1 Company Ownership

The House of Pine is owned by Richard Putnam. Richard has over 10 years of experience in furniture manufacturing.

2.2 Company Locations and Facilities

The House of Pine will be centrally located in the industrial section of the Richmond Metro area.

2.3 Start-up Summary

The House of Pine’s start-up costs consists mostly of furniture manufacturing equipment and transport containers. Richard Putnam will invest $50,000.  In addition, he will secure a $130,000 loan.

Retail furniture manufacturer business plan, company summary chart image

Start-up
Requirements
Start-up Expenses
Legal $1,000
Stationery etc. $200
Insurance $1,000
Rent $2,000
Expensed Equipment $60,000
Total Start-up Expenses $64,200
Start-up Assets
Cash Required $5,800
Start-up Inventory $50,000
Other Current Assets $0
Long-term Assets $60,000
Total Assets $115,800
Total Requirements $180,000
Start-up Funding
Start-up Expenses to Fund $64,200
Start-up Assets to Fund $115,800
Total Funding Required $180,000
Assets
Non-cash Assets from Start-up $110,000
Cash Requirements from Start-up $5,800
Additional Cash Raised $0
Cash Balance on Starting Date $5,800
Total Assets $115,800
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $130,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $130,000
Capital
Planned Investment
Richard Putnam $50,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $50,000
Loss at Start-up (Start-up Expenses) ($64,200)
Total Capital ($14,200)
Total Capital and Liabilities $115,800
Total Funding $180,000

Products and Services

The House of Pine will offer wood products for the bedroom, living and dining room, and the storage room:

  • Entertainment centers;

Market Analysis Summary how to do a market analysis for your business plan.">

In the Richmond Metro area, there are approximately 50,000 residents with modest incomes.  They are expected to make up half of the metro population by 2020–making them the fastest-growing segment of the city’s housing market.

It is estimated that the Richmond Metro area will need 10,000 units of affordable housing in the next seven years.  Currently, there are three renovation projects that represent 1,500 new housing units.  Next year, two new construction projects will be completed offering another 1,000 units of affordable housing.  Another 1,000 unit project, to be located in the Garden Meadows section downtown, is currently in the planning stages.

There are changes occuring around the State University, located downtown, that will also impact the revival of the Richmond Metro area.  Two off-campus housing projects will be completed mid-year that will add an additional 2,000 family housing units to the university area.

4.1 Market Segmentation

The growth of affordable housing in the Richmond Metro area is critical to the success of The House of Pine.

We will aggressively market our target customers who live in the Metro area:

  • Young working families;
  • Young adults.

Retail furniture manufacturer business plan, market analysis summary chart image

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Young Working Families 12% 3,000 3,360 3,763 4,215 4,721 12.00%
Students 10% 5,000 5,500 6,050 6,655 7,321 10.00%
Young Adults 10% 10,000 11,000 12,100 13,310 14,641 10.00%
Total 10.34% 18,000 19,860 21,913 24,180 26,683 10.34%

Strategy and Implementation Summary

The House of Pine will focus on the modest income furniture customer who live in the Richmond Metro area.

5.1 Competitive Edge

Most of Richmond’s fifteen furniture stores are dispersed throughout the city adjacent to affluent or suburban communities. The stores downtown are high end and offer no affordable products to the Metro residents.

The primary reason for the price of the furniture is the type of wood that is used. A bedroom set made of pine can cost a customer $400.  The same set made in oak or maple will cost $800. The profits are higher by focusing on the more expensive wood.  When using pine, many manufacturers improve their profits by using cheaper construction techniques.  The resulting poor quality of these products have added to a popular misconception that pine is an inferior wood.

The Richmond furniture stores offer a very limited selection of styles in pine.  Most products are selected to maximize the store’s profit, not the customer’s satisfaction, since it is believed the customer has few options.

The House of Pine will build its furniture to last generations and will offer the customer all the popular styles.

5.2 Sales Strategy

We will advertise in the university daily student newspaper as well as the Metro area advertising flyer.  In the advertisements for the store opening, we will have a 20% off coupon. We will continue this discount for the first month of operation.

The metro area also has six community organizations that send out weekly flyers to all community residents. We will advertise in the these flyers.

5.2.1 Sales Forecast

The following is the sales forecast for the three years.

Retail furniture manufacturer business plan, strategy and implementation summary chart image

Sales Forecast
Year 1 Year 2 Year 3
Sales
Furniture $964,000 $1,000,000 $1,050,000
Other $0 $0 $0
Total Sales $964,000 $1,000,000 $1,050,000
Direct Cost of Sales Year 1 Year 2 Year 3
Furniture $432,000 $430,000 $450,000
Other $0 $0 $0
Subtotal Direct Cost of Sales $432,000 $430,000 $450,000

Pro Tip:

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The store’s owner, Richard Putnam, has worked in the furniture manufacturing industry for over ten years.  This experience began at Ingram’s Fine Furniture, where he worked for five years. Within three years, he reached the position of shift manager. Most recently, Richard was the operations manager at Wasserman Furniture Manufacturing.

Richard is an excellent staff supervisor and will do very well in managing the staff of The House of Pine.

6.1 Personnel Plan

The House of Pine will have the following staff members:

  • Assistant manager;
  • Office manager/accountant;
  • Checkers (1.5);
  • Production staff (5);
  • Stockers (1.5);
Personnel Plan
Year 1 Year 2 Year 3
Manager $36,000 $40,000 $45,000
Assistant Manager $36,000 $39,000 $43,000
Office Manager/Bookkeeper $36,000 $39,000 $42,000
Checkers $32,400 $35,500 $40,000
Production Staff $120,000 $130,000 $140,000
Stockers $39,600 $43,000 $46,000
Total People 9 9 9
Total Payroll $300,000 $326,500 $356,000

Financial Plan investor-ready personnel plan .">

The following is the Financial plan for The House of Pine.

7.1 Break-even Analysis

The following table and chart show our monthly sales break-even point.

Retail furniture manufacturer business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $69,767
Assumptions:
Average Percent Variable Cost 45%
Estimated Monthly Fixed Cost $38,502

7.2 Projected Profit and Loss

The following table and charts highlight the projected profit and loss for three years.

Retail furniture manufacturer business plan, financial plan chart image

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $964,000 $1,000,000 $1,050,000
Direct Cost of Sales $432,000 $430,000 $450,000
Other Production Expenses $0 $0 $0
Total Cost of Sales $432,000 $430,000 $450,000
Gross Margin $532,000 $570,000 $600,000
Gross Margin % 55.19% 57.00% 57.14%
Expenses
Payroll $300,000 $326,500 $356,000
Sales and Marketing and Other Expenses $60,000 $60,000 $60,000
Depreciation $11,424 $11,424 $11,424
Leased Equipment $0 $0 $0
Utilities $9,600 $9,600 $9,600
Insurance $12,000 $12,000 $12,000
Rent $24,000 $24,000 $24,000
Payroll Taxes $45,000 $48,975 $53,400
Other $0 $0 $0
Total Operating Expenses $462,024 $492,499 $526,424
Profit Before Interest and Taxes $69,976 $77,501 $73,576
EBITDA $81,400 $88,925 $85,000
Interest Expense $11,917 $10,001 $8,002
Taxes Incurred $17,418 $20,250 $19,672
Net Profit $40,641 $47,250 $45,902
Net Profit/Sales 4.22% 4.72% 4.37%

7.3 Projected Cash Flow

The following table and chart highlight the projected cash flow for three years.

Retail furniture manufacturer business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $723,000 $750,000 $787,500
Cash from Receivables $198,158 $248,400 $260,278
Subtotal Cash from Operations $921,158 $998,400 $1,047,778
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
Subtotal Cash Received $921,158 $998,400 $1,047,778
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $300,000 $326,500 $356,000
Bill Payments $539,935 $637,773 $637,056
Subtotal Spent on Operations $839,935 $964,273 $993,056
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $19,992 $19,992 $19,992
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $859,927 $984,265 $1,013,048
Net Cash Flow $61,231 $14,136 $34,730
Cash Balance $67,031 $81,167 $115,897

7.4 Projected Balance Sheet

The following table highlights the projected balance sheet for three years.

Pro Forma Balance Sheet
Year 1 Year 2 Year 3
Assets
Current Assets
Cash $67,031 $81,167 $115,897
Accounts Receivable $42,842 $44,442 $46,664
Inventory $51,700 $51,461 $53,854
Other Current Assets $0 $0 $0
Total Current Assets $161,573 $177,069 $216,415
Long-term Assets
Long-term Assets $60,000 $60,000 $60,000
Accumulated Depreciation $11,424 $22,848 $34,272
Total Long-term Assets $48,576 $37,152 $25,728
Total Assets $210,149 $214,221 $242,143
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $73,700 $50,514 $52,526
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $73,700 $50,514 $52,526
Long-term Liabilities $110,008 $90,016 $70,024
Total Liabilities $183,708 $140,530 $122,550
Paid-in Capital $50,000 $50,000 $50,000
Retained Earnings ($64,200) ($23,559) $23,691
Earnings $40,641 $47,250 $45,902
Total Capital $26,441 $73,691 $119,593
Total Liabilities and Capital $210,149 $214,221 $242,143
Net Worth $26,441 $73,691 $119,593

7.5 Business Ratios

Business ratios for the years of this plan are shown below.  Industry profile ratios based on the Standard Industrial Classification (SIC) code 5712, Furniture Stores, are shown for comparison.

The following is an explanation of the plans divergence with industry ratio profile.

  • Sales Growth – will start below the industry average but will be closer to the average after the third year of operation.
  • Accounts Receivable – is slightly below average due to the low use of credit for purchases (25%).
  • Inventory – is below the industry average because 20% of the furniture will be built to order.
  • Long Term Assets, Long Term Liabilities, and Expense of Sales – are higher because The House Of Pine builds furniture on site.
Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth 0.00% 3.73% 5.00% 6.20%
Percent of Total Assets
Accounts Receivable 20.39% 20.75% 19.27% 21.00%
Inventory 24.60% 24.02% 22.24% 38.80%
Other Current Assets 0.00% 0.00% 0.00% 21.70%
Total Current Assets 76.88% 82.66% 89.37% 81.50%
Long-term Assets 23.12% 17.34% 10.63% 18.50%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 35.07% 23.58% 21.69% 44.90%
Long-term Liabilities 52.35% 42.02% 28.92% 13.70%
Total Liabilities 87.42% 65.60% 50.61% 58.60%
Net Worth 12.58% 34.40% 49.39% 41.40%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 55.19% 57.00% 57.14% 37.60%
Selling, General & Administrative Expenses 50.97% 52.28% 52.77% 20.80%
Advertising Expenses 6.22% 6.00% 5.71% 4.40%
Profit Before Interest and Taxes 7.26% 7.75% 7.01% 1.60%
Main Ratios
Current 2.19 3.51 4.12 1.82
Quick 1.49 2.49 3.09 0.76
Total Debt to Total Assets 87.42% 65.60% 50.61% 58.60%
Pre-tax Return on Net Worth 219.58% 91.60% 54.83% 3.80%
Pre-tax Return on Assets 27.63% 31.51% 27.08% 9.20%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 4.22% 4.72% 4.37% n.a
Return on Equity 153.70% 64.12% 38.38% n.a
Activity Ratios
Accounts Receivable Turnover 5.63 5.63 5.63 n.a
Collection Days 57 64 63 n.a
Inventory Turnover 10.73 8.34 8.55 n.a
Accounts Payable Turnover 8.33 12.17 12.17 n.a
Payment Days 27 37 29 n.a
Total Asset Turnover 4.59 4.67 4.34 n.a
Debt Ratios
Debt to Net Worth 6.95 1.91 1.02 n.a
Current Liab. to Liab. 0.40 0.36 0.43 n.a
Liquidity Ratios
Net Working Capital $87,873 $126,555 $163,889 n.a
Interest Coverage 5.87 7.75 9.19 n.a
Additional Ratios
Assets to Sales 0.22 0.21 0.23 n.a
Current Debt/Total Assets 35% 24% 22% n.a
Acid Test 0.91 1.61 2.21 n.a
Sales/Net Worth 36.46 13.57 8.78 n.a
Dividend Payout 0.00 0.00 0.00 n.a
Sales Forecast
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales
Furniture 0% $50,000 $60,000 $70,000 $75,000 $85,000 $90,000 $100,000 $85,000 $90,000 $85,000 $79,000 $95,000
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $50,000 $60,000 $70,000 $75,000 $85,000 $90,000 $100,000 $85,000 $90,000 $85,000 $79,000 $95,000
Direct Cost of Sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Furniture $20,000 $22,000 $31,000 $34,000 $40,000 $42,000 $45,000 $38,000 $41,000 $37,000 $35,000 $47,000
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $20,000 $22,000 $31,000 $34,000 $40,000 $42,000 $45,000 $38,000 $41,000 $37,000 $35,000 $47,000
Personnel Plan
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Manager 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Assistant Manager 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Office Manager/Bookkeeper 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Checkers 0% $2,700 $2,700 $2,700 $2,700 $2,700 $2,700 $2,700 $2,700 $2,700 $2,700 $2,700 $2,700
Production Staff 0% $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Stockers 0% $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300
Total People 9 9 9 9 9 9 9 9 9 9 9 9
Total Payroll $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
General Assumptions
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Tax Rate 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Other 0 0 0 0 0 0 0 0 0 0 0 0
Pro Forma Profit and Loss
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales $50,000 $60,000 $70,000 $75,000 $85,000 $90,000 $100,000 $85,000 $90,000 $85,000 $79,000 $95,000
Direct Cost of Sales $20,000 $22,000 $31,000 $34,000 $40,000 $42,000 $45,000 $38,000 $41,000 $37,000 $35,000 $47,000
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $20,000 $22,000 $31,000 $34,000 $40,000 $42,000 $45,000 $38,000 $41,000 $37,000 $35,000 $47,000
Gross Margin $30,000 $38,000 $39,000 $41,000 $45,000 $48,000 $55,000 $47,000 $49,000 $48,000 $44,000 $48,000
Gross Margin % 60.00% 63.33% 55.71% 54.67% 52.94% 53.33% 55.00% 55.29% 54.44% 56.47% 55.70% 50.53%
Expenses
Payroll $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
Sales and Marketing and Other Expenses $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Depreciation $952 $952 $952 $952 $952 $952 $952 $952 $952 $952 $952 $952
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800
Insurance $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Rent $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Payroll Taxes 15% $3,750 $3,750 $3,750 $3,750 $3,750 $3,750 $3,750 $3,750 $3,750 $3,750 $3,750 $3,750
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $38,502 $38,502 $38,502 $38,502 $38,502 $38,502 $38,502 $38,502 $38,502 $38,502 $38,502 $38,502
Profit Before Interest and Taxes ($8,502) ($502) $498 $2,498 $6,498 $9,498 $16,498 $8,498 $10,498 $9,498 $5,498 $9,498
EBITDA ($7,550) $450 $1,450 $3,450 $7,450 $10,450 $17,450 $9,450 $11,450 $10,450 $6,450 $10,450
Interest Expense $1,069 $1,056 $1,042 $1,028 $1,014 $1,000 $986 $972 $958 $945 $931 $917
Taxes Incurred ($2,871) ($467) ($163) $441 $1,645 $2,549 $4,654 $2,258 $2,862 $2,566 $1,370 $2,574
Net Profit ($6,700) ($1,090) ($381) $1,029 $3,839 $5,949 $10,858 $5,268 $6,678 $5,987 $3,197 $6,007
Net Profit/Sales -13.40% -1.82% -0.54% 1.37% 4.52% 6.61% 10.86% 6.20% 7.42% 7.04% 4.05% 6.32%
Pro Forma Cash Flow
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash Received
Cash from Operations
Cash Sales $37,500 $45,000 $52,500 $56,250 $63,750 $67,500 $75,000 $63,750 $67,500 $63,750 $59,250 $71,250
Cash from Receivables $0 $417 $12,583 $15,083 $17,542 $18,833 $21,292 $22,583 $24,875 $21,292 $22,458 $21,200
Subtotal Cash from Operations $37,500 $45,417 $65,083 $71,333 $81,292 $86,333 $96,292 $86,333 $92,375 $85,042 $81,708 $92,450
Additional Cash Received
Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $37,500 $45,417 $65,083 $71,333 $81,292 $86,333 $96,292 $86,333 $92,375 $85,042 $81,708 $92,450
Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Expenditures from Operations
Cash Spending $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
Bill Payments $358 $11,368 $30,171 $54,228 $51,669 $61,759 $60,506 $65,809 $46,566 $60,270 $48,627 $48,604
Subtotal Spent on Operations $25,358 $36,368 $55,171 $79,228 $76,669 $86,759 $85,506 $90,809 $71,566 $85,270 $73,627 $73,604
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666
Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $27,024 $38,034 $56,837 $80,894 $78,335 $88,425 $87,172 $92,475 $73,232 $86,936 $75,293 $75,270
Net Cash Flow $10,476 $7,383 $8,246 ($9,561) $2,957 ($2,091) $9,120 ($6,142) $19,143 ($1,894) $6,415 $17,180
Cash Balance $16,276 $23,659 $31,905 $22,344 $25,301 $23,209 $32,329 $26,187 $45,330 $43,436 $49,851 $67,031
Pro Forma Balance Sheet
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Assets Starting Balances
Current Assets
Cash $5,800 $16,276 $23,659 $31,905 $22,344 $25,301 $23,209 $32,329 $26,187 $45,330 $43,436 $49,851 $67,031
Accounts Receivable $0 $12,500 $27,083 $32,000 $35,667 $39,375 $43,042 $46,750 $45,417 $43,042 $43,000 $40,292 $42,842
Inventory $50,000 $30,000 $24,200 $34,100 $37,400 $44,000 $46,200 $49,500 $41,800 $45,100 $40,700 $38,500 $51,700
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $55,800 $58,776 $74,942 $98,005 $95,410 $108,676 $112,451 $128,579 $113,404 $133,472 $127,136 $128,643 $161,573
Long-term Assets
Long-term Assets $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000
Accumulated Depreciation $0 $952 $1,904 $2,856 $3,808 $4,760 $5,712 $6,664 $7,616 $8,568 $9,520 $10,472 $11,424
Total Long-term Assets $60,000 $59,048 $58,096 $57,144 $56,192 $55,240 $54,288 $53,336 $52,384 $51,432 $50,480 $49,528 $48,576
Total Assets $115,800 $117,824 $133,038 $155,149 $151,602 $163,916 $166,739 $181,915 $165,788 $184,904 $177,616 $178,171 $210,149
Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Current Liabilities
Accounts Payable $0 $10,390 $28,360 $52,518 $49,608 $59,749 $58,289 $64,273 $44,544 $58,648 $47,039 $46,062 $73,700
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $0 $10,390 $28,360 $52,518 $49,608 $59,749 $58,289 $64,273 $44,544 $58,648 $47,039 $46,062 $73,700
Long-term Liabilities $130,000 $128,334 $126,668 $125,002 $123,336 $121,670 $120,004 $118,338 $116,672 $115,006 $113,340 $111,674 $110,008
Total Liabilities $130,000 $138,724 $155,028 $177,520 $172,944 $181,419 $178,293 $182,611 $161,216 $173,654 $160,379 $157,736 $183,708
Paid-in Capital $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Retained Earnings ($64,200) ($64,200) ($64,200) ($64,200) ($64,200) ($64,200) ($64,200) ($64,200) ($64,200) ($64,200) ($64,200) ($64,200) ($64,200)
Earnings $0 ($6,700) ($7,790) ($8,171) ($7,142) ($3,303) $2,646 $13,504 $18,772 $25,450 $31,437 $34,634 $40,641
Total Capital ($14,200) ($20,900) ($21,990) ($22,371) ($21,342) ($17,503) ($11,554) ($696) $4,572 $11,250 $17,237 $20,434 $26,441
Total Liabilities and Capital $115,800 $117,824 $133,038 $155,149 $151,602 $163,916 $166,739 $181,915 $165,788 $184,904 $177,616 $178,171 $210,149
Net Worth ($14,200) ($20,900) ($21,990) ($22,371) ($21,342) ($17,503) ($11,554) ($696) $4,572 $11,250 $17,237 $20,434 $26,441

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Conn’s to close over 70 stores amid bankruptcy speculation

The closures represent about 13% of its store fleet and come amid a Bloomberg report that the home retailer is prepping to file for bankruptcy.

Nate Delesline III's headshot

Dive Brief:

  • Conn’s is closing 71 of its namesake stores in 13 states, according to a list posted on its website. The stores slated for closure represent about 13% of the 550 locations the furniture and home goods retailer operated under two banners as of June.
  • According to the company’s website, Conn’s is closing stores in Alabama, Arizona, Colorado, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia. Florida is set to lose the most stores, with 18 listed for closure, followed by Texas, with nine stores.
  • While only 70 locations are listed on the retailer’s website, a Bloomberg report from late last week said the company is shuttering 100 stores , 30 of which are Badcock locations. According to that report, Conn’s is also planning a bankruptcy filing in the coming weeks and is searching for financing for the process. Conn’s did not respond to a request for comment from Retail Dive on the filing or the closures.

Dive Insight:

Conn’s is shuttering stores as bankruptcy rumors swirl around the home goods retailer. The company grew to its current size with last year’s acquisition of furniture retailer W.S. Badcock, which at the time had nearly 380 stores in the Southeast. According to Bloomberg’s report, that acquisition contributed to Conn’s financial challenges.

Conn’s ended 2023 with a year-over-year net loss of nearly $77 million, up about 30% from the prior year. The store closure news follows confirmation from the company in June that it received a delinquency notice from Nasdaq after the retailer failed to file its Q1 report by the required date. The company has until Aug. 19 to submit a plan to regain compliance.

CreditRiskMonitor recently gave the Texas-based retailer a FRISK score of 2, which represents a 4% to a 9.99% chance of filing for bankruptcy in the next 12 months. Conn’s FRISK score has declined since May from a score of 4, which represents a 1.4% to 2.1% chance of bankruptcy. It has remained at 4 or below for over a year, according to CreditRiskMonitor.

CEO Norm Miller said in April that the company expected to maintain its current store count through the next fiscal year. Miller said the two banners had some overlap in Florida and North Carolina and said “there could be some consolidation,” according to an earnings call transcript.

Miller also said earlier this year that the acquisition would affect Q1 results. But he added that benefits of the company’s new integrated operating model should emerge in the second quarter and throughout the rest of the year, along with accelerated revenue and earnings growth.

However, “over the coming quarters, I am confident we will start to benefit from the powerful financial model we are creating, which is supported by our premium shopping experience, best-in-class payment offerings, leading e-commerce capabilities, and unique dealer network,” Miller said at the time. 

Conn’s said it’s focused on near-term strategic priorities following the Badcock acquisition. They include transitioning Badcock customers to Conn’s in-house financing program; optimizing the merchandising strategy; integrating the supply chain and identifying cost cutting opportunities.

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Home goods retailer Conn's files for bankruptcy, to close over 70 stores

Store closures will span 13 states.

Nicholas Wealth Management founder and president David Nicholas says the U.S. consumer is 'singlehandedly carrying the global economy on its back' in spite of inflation on 'Varney & Co.'

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Nicholas Wealth Management founder and president David Nicholas says the U.S. consumer is 'singlehandedly carrying the global economy on its back' in spite of inflation on 'Varney & Co.'

Home goods and furniture retailer Conn’s Inc. filed for Chapter 11 bankruptcy protection on Tuesday and announced plans to close several locations.

The company said more than 70 of its HomePlus stores in 13 states will shutter.

RITE AID TO CLOSE OVER TWO DOZEN STORES AMID BANKRUPTCY PROCEEDINGS

Conn's location

Conn’s Inc. said more than 70 of its HomePlus stores in 13 states will shutter. (Luke Sharrett/Bloomberg via Getty Images)

Conn's filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. FOX Business reached out to the company for comment.

Here are the states and the number of Conn’s HomePlus stores closing in each:

  • Colorado: 6
  • Florida: 18
  • Louisiana: 6
  • Mississippi: 2
  • North Carolina: 4
  • Oklahoma: 4
  • South Carolina: 3
  • Tennessee: 4
  • Virginia: 5

Reports had surfaced earlier in the month that a bankruptcy filing from the retailer could be imminent.

CLICK HERE TO READ MORE ON FOX BUSINESS

In the Chapter 11 filing for Conn’s Inc., it estimated a range of $1 billion to $10 billion for its assets. Estimated liabilities were the same.

Conn's

Conn's filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. (Luke Sharrett/Bloomberg via Getty Images / Getty Images)

Conn’s also reported having an estimated 25,000 to 50,000 creditors.

Ticker Security Last Change Change %
CONN'S 0.40 +0.05 +14.03%

The filing indicated Conn’s Inc. and several other entities affiliated with the company that also filed for bankruptcy want their cases to be jointly administered. One of those was W.S. Babcock LLC, a furniture company it has owned since December.

BOB'S STORES CLOSING ALL RETAIL LOCATIONS

In April, Conn’s said its total annual revenues dropped 7.8% year over year, totaling $1.2 billion. The company also posted a net loss of $76.89 million for the year.

Conn's

A Conn's HomePlus store in Houston is seen on Dec. 9, 2014. (James Nielsen/Houston Chronicle via Getty Images)

The company operated 170 Conn’s HomePlus stores and nearly 380 Badcock locations as of the end of January.

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Furniture Store Business Plan Template

Written by Dave Lavinsky

Furniture Store Business Plan Outline

  • Furniture Business Plan Home
  • 1. Executive Summary
  • 2. Company Overview
  • 3. Industry Analysis
  • 4. Customer Analysis
  • 5. Competitive Analysis
  • 6. Marketing Plan
  • 7. Operations Plan
  • 8. Management Team
  • 9. Financial Plan

Start Your Furniture Store Plan Here

Furniture Store Business Company Overview

Who is modern mode furniture store.

Modern Mode Furniture Store is a newly established furniture retail store focusing on modern and trendy furniture for the stylish individual. It is located in Seattle, Washington and will carry products from choice modern furniture designers and warehouses. Some of the furniture will come from overseas (Japan and Sweden).

Modern Mode Furniture Store will be owned by Richard DeBluff, an area entrepreneur with a keen eye for quality craftsmanship and minimalist design. For the past five years, he has worked at Copenhagen in Arizona as a salesman and interior decorator. Upon returning to his hometown of Seattle, Richard has recognized that while there are a handful of quality furniture stores in Seattle, there are not very many quality modern furniture stores that offer unique designs and furnishings for reasonable prices. Richard found out that lots of his friends and customers were purchasing modern furniture online, but would’ve preferred to visit a showroom where they can touch and feel the quality to make sure they are placing their investment in a solid piece of furniture.

Modern Mode Furniture Store will carry quality pieces of modern-designed furniture that are moderately priced and will last for years. Whatever room you are outfitting, Modern Mode Furniture Store will have something for you.

Modern Mode Furniture Store History

Modern Mode Furniture Store will be owned and operated by Richard DeBluff, a local interior designer and furniture salesman that has a knack for minimalist, modern design. Richard has worked at Copenhagen Furniture Store for the past five years and has noticed that there are not a lot of quality, modern furniture stores in the area. He began researching well respected and reasonably priced furniture distributors and has decided on five to open his furniture store with. There are two Japanese manufacturers, one Swedish manufacturer, and two that are located in the United States. Upon doing extensive research, Richard found that much of the younger generation who are now working professionals purchase their modern furniture online, but would prefer to visit an actual store or warehouse so they can see and feel the furniture before making a purchase.

Since incorporation, Modern Mode Furniture Store has achieved the following milestones:

  • Located the store location and signed a Letter of Intent with the property management company.
  • Registered Modern Mode Furniture, LLC to do business in the state of Washington.
  • Contacted five furniture distributors and have soft agreements in place for the shipment and distribution of their products.
  • Started working with an advertising company to develop brand image.

Modern Mode Furniture Store Products

Modern Mode Furniture Store will sell the following products:

  • Living Room Furniture
  • Bedroom Furniture
  • Dining Room Furniture
  • Office Furniture
  • Art & Accessories

Introduction

Financing options available, furniture financing options to avoid, how to finance furniture: smart strategies for your home.

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate personal loans to write unbiased product reviews.

  • Furniture can be expensive, but there are multiple ways to finance furniture purchases. 
  • Options for furniture financing include several types of loans and credit cards. 
  • You want a financing option for furniture that charges 0% interest until you can pay it off.

The basics of furniture financing

Whether you're a new homeowner or it's time for an upgrade, buying furniture can be costly. Deciding how to finance furniture requires looking into several options. Even if you don't have stellar credit, furniture financing is likely within reach. 

Furniture financing is taking on debt in order to buy the furniture now and pay later. There are definite pros and cons to every method.

When you're ready to finance a big furniture purchase, consider your credit score , how much you plan to spend, and how quickly you can pay off the balance.

Credit cards and in-store financing

Plenty of people choose to finance furniture with a credit card, and it can work well. You may already have a credit card with a low APR , or you can try to find a card with a balance transfer offer.

Bank of America's Jason Gaughan , head of consumer credit card products, suggests financing furniture with a flexible rewards credit card with a 0% introductory APR. Obviously, the best credit card option is one that won't leave you with hefty interest charges months or years down the line.

Credit cards can be the best option for financing furniture, but only if you can secure a 0% APR. These offers don't last forever, so read the fine print and be ready to pay off the balance aggressively before the rate increases (often after 12 months). You may also try to get another balance transfer before your 0% APR introductory period ends.

Personal loans

One straightforward way of financing furniture is to take out a personal loan. You can get personal loans from banks, credit unions, and online lenders. Personal loans are installment loans. You receive a lump sum for the approved amount and then follow a repayment agreement with your lender. Personal loans can be a good option if you have a good credit score. The higher your credit score, the lower the interest rates you'll be offered. Lenders will also consider factors including your work history and income, as well as your debt-to-income ratio , which measures the percentage of your monthly income that goes toward paying loans and other debts. Benefits of using a personal loan to finance furniture include:

  • Interest rate may be lower than some furniture stores and credit cards.
  • You can use the funds for any purpose, not only furniture.
  • Your furniture doesn't serve as collateral.

Drawbacks to personal loans for furniture financing include:

  • You may require a higher credit score to qualify
  • Lenders may charge origination fees in addition to interest
  • You'll be charged interest immediately, so prompt repayment is key

If you decide to try a personal loan, do a little pre-shopping to determine how much you'd like to borrow. Then look into several lenders to compare your options.

Buy now, pay later services

Buy now, pay later (BNPL) platforms let you to buy items without paying for them all at once. Instead, you pay only a portion of the price upfront, spreading out the remaining cost over a predetermined number of installment payments . These payments are often interest-free, and the approval process is fairly fast for consumers. 

BNPL has become an exponentially more popular option for shoppers, particularly for those who do their buying online. Companies like  Affirm ,  Afterpay ,  Klarna , and Zip all partner with various retailers to offer point-of-sale installment lending (another name for BNPL). 

Home equity loans

Homeowners might consider a home equity loan to help with the cost of new furniture, though this method can be more cumbersome.

With a home equity loan, you'll need a certain level of equity in your home, meaning the portion you own outright. A home equity loan, which uses your home as collateral the same way as your mortgage does, provides a lump sum and usually has a fixed interest rate. 

John Owens , executive vice president at Monterey Financial, notes that home equity loans can be more complex to arrange and might be better suited for larger purchases. 

Benefits of home equity loans to finance furniture include:

  • Monthly payments are consistent due to a typically fixed rate.
  • Interest rates may be lower than for personal loans due to the home being used as collateral.
  • Long repayment terms can make payments more affordable.

Some drawbacks of home equity loans for furniture financing are:

  • Default can result in foreclosure.
  • The application process can be lengthy.
  • There is strict criteria to qualify, including credit score and the amount of equity you have in your home.

If you think you'd qualify for a home equity loan, don't just pick the first lender you come across. Some lenders charge no fees and may even work with clients with low credit scores.

Home equity lines of credit

Much like a home equity loan, a home equity line of credit provides funds based on the amount of equity you have in your home, and you risk foreclosure if you default on the debt.

Unlike a home equity loan, a home equity line of credit (HELOC) offers a fixed maximum borrowing amount. Your lender determines a borrowing limit, and you can use as much or as little as you need to at any time, rather than taking out a lump sum.

HELOCs work much like credit cards, except that your home's equity is what provides backing. You can borrow up to the maximum limit, pay it back, and borrow again, as long as you don't exceed your maximum. 

If you anticipate making several large purchases over the next several years, a HELOC can be a good financing option. You could spread out your furniture buying as long as you don't exceed the maximum limit and avoid the hassle of getting multiple loans.

If you're interested in a HELOC, be sure to research multiple lenders to find the best deals. Ideally, you'll want a lender that doesn't charge too many up-front fees. 

The Consumer Financial Protection Bureau (CFPB) recommends getting at least three estimates to compare factors like up-front costs, early termination fees, closing costs, interest rates, and various penalties.

As long as you're looking into solid financing options for your furniture, there are a couple of loan types you'll want to avoid. 

Payday loans , for example, are notoriously high in fees. Watch out for loans that often charge $10 to $30 per $100 borrowed, as the CFPB says is common for payday loans. Plus, these loans aren't ideal for long-term financing, so you're better off finding a loan that gives you at least six to twelve months to pay it off.

There's no single minimum credit score required to finance furniture. You could be eligible for financing even if you have little to no credit history, depending on the retailer. That said, you'll generally want a score of 640 or higher to increase your chances of getting approved and securing the best interest rates. Compare offers from multiple furniture stores and lenders to find the best option for you.

If you have bad credit you can finance furniture with options like rent-to-own or buy now, pay later services. However, terms and interest rates may vary.

It can sometimes be better to use a personal loan to finance furniture. Store financing can offer promotional terms like 0% interest, but it's crucial to repay within the promotional period to avoid high rates. Personal loans offer fixed rates and terms, making them a better option for longer-term financing.

Certain buy now, pay later plans don't require a hard credit check and may not affect your credit score. However, failing to make payments can lead to debt collection, which can negatively impact your score.

Watch out for high-interest rates after promotional periods, hidden fees, and penalties for late payments. Always read the fine print to understand the real cost.

Alternatives to financing furniture include saving up for furniture purchases, buying second-hand items, or looking for sales and discounts to avoid interest and fees.

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  • Lawn mower stores Leads in Moscow Oblast
  • Store equipment suppliers Leads in Moscow Oblast
  • Special education schools Leads in Moscow Oblast
  • Diagnostic centers Leads in Moscow Oblast
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  • Senior citizen centers Leads in Moscow Oblast
  • Veterinarians Leads in Moscow Oblast
  • Christian churches Leads in Moscow Oblast
  • School centers Leads in Moscow Oblast
  • Presbyterian churches Leads in Moscow Oblast
  • Senior high schools Leads in Moscow Oblast
  • International schools Leads in Moscow Oblast
  • Chinese language schools Leads in Moscow Oblast
  • Massage therapists Leads in Moscow Oblast
  • Road Contractors Leads in Moscow Oblast
  • Plasterers Leads in Moscow Oblast
  • Structural engineers Leads in Moscow Oblast
  • Ready mix concrete suppliers Leads in Moscow Oblast
  • Utility contractors Leads in Moscow Oblast
  • Photographies Leads in Moscow Oblast
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  • Double glazing installers Leads in Moscow Oblast
  • Drainage services Leads in Moscow Oblast
  • Architectural designers Leads in Moscow Oblast
  • Marble suppliers Leads in Moscow Oblast
  • Tool rental services Leads in Moscow Oblast
  • Containers suppliers Leads in Moscow Oblast
  • Funeral directors Leads in Moscow Oblast
  • Copy shops Leads in Moscow Oblast
  • Screen printing supply stores Leads in Moscow Oblast
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  • 3D printing services Leads in Moscow Oblast
  • Screen printers Leads in Moscow Oblast
  • Sticker Manufacturers Leads in Moscow Oblast
  • Invitation printing services Leads in Moscow Oblast
  • Embroidery shops Leads in Moscow Oblast
  • Printing equipment and supplies Leads in Moscow Oblast
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  • Wedding photographers Leads in Moscow Oblast
  • Interior architect offices Leads in Moscow Oblast
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  • Locks Suppliers Leads in Moscow Oblast
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  • Magazine stores Leads in Moscow Oblast
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  • Political party offices Leads in Moscow Oblast
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  • Specialized clinics Leads in Moscow Oblast
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  • Army facilities Leads in Moscow Oblast
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  • High ropes courses Leads in Moscow Oblast
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  • Occupational health services Leads in Moscow Oblast
  • Waxing hair removal services Leads in Moscow Oblast
  • Preparatory schools Leads in Moscow Oblast
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  • Memorial parks Leads in Moscow Oblast
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  • Monument makers Leads in Moscow Oblast
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  • Alternative medicine practitioners Leads in Moscow Oblast
  • Tea Wholesalers Leads in Moscow Oblast
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  • Air compressor suppliers Leads in Moscow Oblast
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  • Employment search services Leads in Moscow Oblast
  • Internet shops Leads in Moscow Oblast
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  • Computer Wholesalers Leads in Moscow Oblast
  • Chinaware stores Leads in Moscow Oblast
  • Orthodontists Leads in Moscow Oblast
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  • Gated communities Leads in Moscow Oblast
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  • City district offices Leads in Moscow Oblast
  • Oil change services Leads in Moscow Oblast
  • Brake shops Leads in Moscow Oblast
  • Engine Rebuilding Service Stations Leads in Moscow Oblast
  • Auto body parts suppliers Leads in Moscow Oblast
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  • Indian takeaways Leads in Moscow Oblast
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  • Dental implants periodontists Leads in Moscow Oblast
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  • Piano repair services Leads in Moscow Oblast
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  • Medical spas Leads in Moscow Oblast
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  • Beauty Products Wholesalers Leads in Moscow Oblast
  • Military bases Leads in Moscow Oblast
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  • Logistics Leads in Moscow Oblast
  • Eyelash salons Leads in Moscow Oblast
  • Cosmetic Products Manufacturers Leads in Moscow Oblast
  • Heating oil suppliers Leads in Moscow Oblast
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  • After school programs Leads in Moscow Oblast
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  • Tool manufacturers Leads in Moscow Oblast
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  • Occupational medical physicians Leads in Moscow Oblast
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  • Real estate appraisers Leads in Moscow Oblast
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  • Auto wreckers Leads in Moscow Oblast
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  • First aid stations Leads in Moscow Oblast
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  • Department of motor vehicles Leads in Moscow Oblast
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  • Self defense schools Leads in Moscow Oblast
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  • Curtain supplier and makers Leads in Moscow Oblast
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  • Gas engineers Leads in Moscow Oblast
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  • Car inspection stations Leads in Moscow Oblast
  • Boiler suppliers Leads in Moscow Oblast
  • Portable building manufacturers Leads in Moscow Oblast
  • Debris removal services Leads in Moscow Oblast
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  • Russian restaurants Leads in Moscow Oblast
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  • Recreations Leads in Moscow Oblast
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  • Information services Leads in Moscow Oblast
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  • Urologists Leads in Moscow Oblast
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  • Elevator Manufacturers Leads in Moscow Oblast
  • Ranches Leads in Moscow Oblast
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  • Miniatures stores Leads in Moscow Oblast
  • CD stores Leads in Moscow Oblast
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  • Disability equipment suppliers Leads in Moscow Oblast
  • Islands Leads in Moscow Oblast
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  • Veterinary cares Leads in Moscow Oblast
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  • Emergency veterinarian services Leads in Moscow Oblast
  • Pet funeral services Leads in Moscow Oblast
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  • Glass cutting services Leads in Moscow Oblast
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  • Bus depots Leads in Moscow Oblast
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  • Science museums Leads in Moscow Oblast
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  • Neurologists Leads in Moscow Oblast
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  • Camera repair shops Leads in Moscow Oblast
  • Television repair services Leads in Moscow Oblast
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  • Portrait studios Leads in Moscow Oblast
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  • Japanese grocery stores Leads in Moscow Oblast
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  • Car finance and loan companies Leads in Moscow Oblast
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  • Building materials markets Leads in Moscow Oblast
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  • Lawn mower repair services Leads in Moscow Oblast
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  • Scaffolding rental services Leads in Moscow Oblast
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  • Historical place museums Leads in Moscow Oblast
  • Castles Leads in Moscow Oblast
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  • Ruins Leads in Moscow Oblast
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  • Photocopiers suppliers Leads in Moscow Oblast
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  • Department of housing Leads in Moscow Oblast
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  • Eastern Orthodox Churches Leads in Moscow Oblast
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  • Monasteries Leads in Moscow Oblast
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  • Hawaiian restaurants Leads in Moscow Oblast
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  • Governments Leads in Moscow Oblast
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  • Photography studios Leads in Moscow Oblast
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  • Exhibits Leads in Moscow Oblast
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  • Woods Leads in Moscow Oblast
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  • Solar hot water system suppliers Leads in Moscow Oblast
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  • Sandblasting services Leads in Moscow Oblast
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  • Movie studios Leads in Moscow Oblast
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  • Bus ticket agencies Leads in Moscow Oblast
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  • Agricultural organizations Leads in Moscow Oblast
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  • Sheriff's departments Leads in Moscow Oblast
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  • Institute of technology Leads in Moscow Oblast
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  • Foot massage parlors Leads in Moscow Oblast
  • Saunas Leads in Moscow Oblast
  • Ophthalmology clinics Leads in Moscow Oblast
  • Cheese manufacturers Leads in Moscow Oblast
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  • Small engine repair services Leads in Moscow Oblast
  • Machine maintenances Leads in Moscow Oblast
  • Municipal Corporations Leads in Moscow Oblast
  • Boat clubs Leads in Moscow Oblast
  • Repairs Leads in Moscow Oblast
  • Surgical Products Wholesalers Leads in Moscow Oblast
  • Oil Wholesalers Leads in Moscow Oblast
  • Hair extensions suppliers Leads in Moscow Oblast
  • Egg suppliers Leads in Moscow Oblast
  • Turf suppliers Leads in Moscow Oblast
  • Dairies Leads in Moscow Oblast
  • Printer repair services Leads in Moscow Oblast
  • Real estates Leads in Moscow Oblast
  • Tool repair shops Leads in Moscow Oblast
  • Tractor repair shops Leads in Moscow Oblast
  • Sharpening services Leads in Moscow Oblast
  • Garden machinery suppliers Leads in Moscow Oblast
  • Water ski shops Leads in Moscow Oblast
  • Carpet Manufacturers Leads in Moscow Oblast
  • Petroleum Products Companies Leads in Moscow Oblast
  • Video equipment repair services Leads in Moscow Oblast
  • Art restoration services Leads in Moscow Oblast
  • Tuxedo shops Leads in Moscow Oblast
  • Corporate entertainment services Leads in Moscow Oblast
  • Powder coating services Leads in Moscow Oblast
  • Cosmetics wholesalers Leads in Moscow Oblast
  • Make-up artists Leads in Moscow Oblast
  • Contact lenses suppliers Leads in Moscow Oblast
  • Lunch restaurants Leads in Moscow Oblast
  • English restaurants Leads in Moscow Oblast
  • Tree farms Leads in Moscow Oblast
  • Promenades Leads in Moscow Oblast
  • Equestrian facilities Leads in Moscow Oblast
  • Bowling clubs Leads in Moscow Oblast
  • Beer gardens Leads in Moscow Oblast
  • Gift wrap stores Leads in Moscow Oblast
  • Custom label printers Leads in Moscow Oblast
  • Clothing suppliers Leads in Moscow Oblast
  • Electronics Leads in Moscow Oblast
  • Horse trainers Leads in Moscow Oblast
  • Company registries Leads in Moscow Oblast
  • Baseball fields Leads in Moscow Oblast
  • Boiler Manufacturers Leads in Moscow Oblast
  • Welding gas suppliers Leads in Moscow Oblast
  • Haberdasheries Leads in Moscow Oblast
  • Head start centers Leads in Moscow Oblast
  • Frozen yogurt shops Leads in Moscow Oblast
  • Machine knife suppliers Leads in Moscow Oblast
  • Air filter suppliers Leads in Moscow Oblast
  • Driveshaft shops Leads in Moscow Oblast
  • Toy and game manufacturers Leads in Moscow Oblast
  • Rare book stores Leads in Moscow Oblast
  • Parapharmacies Leads in Moscow Oblast
  • Antique furniture restoration services Leads in Moscow Oblast
  • Tropical fish stores Leads in Moscow Oblast
  • Drinking water fountains Leads in Moscow Oblast
  • Shelving stores Leads in Moscow Oblast
  • Cement Suppliers Leads in Moscow Oblast
  • Dry wall supply stores Leads in Moscow Oblast
  • City administrations Leads in Moscow Oblast
  • Optical Products Manufacturers Leads in Moscow Oblast
  • Cold cut stores Leads in Moscow Oblast
  • Bagel shops Leads in Moscow Oblast
  • Model shops Leads in Moscow Oblast
  • Cafeterias Leads in Moscow Oblast
  • ATV dealers Leads in Moscow Oblast
  • Radiator shops Leads in Moscow Oblast
  • Auto bodywork mechanics Leads in Moscow Oblast
  • Masonry supply stores Leads in Moscow Oblast
  • Tobacco suppliers Leads in Moscow Oblast
  • Small plates restaurants Leads in Moscow Oblast
  • Pond fish suppliers Leads in Moscow Oblast
  • Oyster suppliers Leads in Moscow Oblast
  • Forestry services Leads in Moscow Oblast
  • Aggregate suppliers Leads in Moscow Oblast
  • Traditional restaurants Leads in Moscow Oblast
  • Outboard motor stores Leads in Moscow Oblast
  • Athletic fields Leads in Moscow Oblast
  • Perfume stores Leads in Moscow Oblast
  • Alternative medicines Leads in Moscow Oblast
  • Farm Equipment Repair Shops Leads in Moscow Oblast
  • Public services Leads in Moscow Oblast
  • Hunting areas Leads in Moscow Oblast
  • Trailer repair shops Leads in Moscow Oblast
  • Faculty of sports Leads in Moscow Oblast
  • French language schools Leads in Moscow Oblast
  • Kickboxing schools Leads in Moscow Oblast
  • Childrens clubs Leads in Moscow Oblast
  • Ski resorts Leads in Moscow Oblast
  • Sheltered housings Leads in Moscow Oblast
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  • Driving test centres Leads in Moscow Oblast
  • Regional councils Leads in Moscow Oblast
  • Garden building suppliers Leads in Moscow Oblast
  • Auto tune up services Leads in Moscow Oblast
  • Water Pump Suppliers Leads in Moscow Oblast
  • Retaining wall suppliers Leads in Moscow Oblast
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  • Allergists Leads in Moscow Oblast
  • Cookie shops Leads in Moscow Oblast
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  • Used bicycle shops Leads in Moscow Oblast
  • Dinner theaters Leads in Moscow Oblast
  • FMCG Manufacturers Leads in Moscow Oblast
  • Textile mills Leads in Moscow Oblast
  • Stone cutters Leads in Moscow Oblast
  • Flower deliveries Leads in Moscow Oblast
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  • Social workers Leads in Moscow Oblast
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  • Brasseries Leads in Moscow Oblast
  • Smart shops Leads in Moscow Oblast
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  • Engravers Leads in Moscow Oblast
  • Painting Class Leads in Moscow Oblast
  • Balloon stores Leads in Moscow Oblast
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  • Economic Consultants Leads in Moscow Oblast
  • Church supply stores Leads in Moscow Oblast
  • Orchards Leads in Moscow Oblast
  • Tailors Leads in Moscow Oblast
  • Consumer advice centers Leads in Moscow Oblast
  • Jewelry appraisers Leads in Moscow Oblast
  • Industrial door suppliers Leads in Moscow Oblast
  • Office Accessories Wholesalers Leads in Moscow Oblast
  • Home helps Leads in Moscow Oblast
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  • Engineering schools Leads in Moscow Oblast
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  • Table tennis supply stores Leads in Moscow Oblast
  • Maternity Centres Leads in Moscow Oblast
  • Endoscopists Leads in Moscow Oblast
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  • Reproductive health clinics Leads in Moscow Oblast
  • Diabetes centers Leads in Moscow Oblast
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  • Paintball centers Leads in Moscow Oblast
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  • Dance halls Leads in Moscow Oblast
  • Cosmetic surgeons Leads in Moscow Oblast
  • Ceiling suppliers Leads in Moscow Oblast
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  • Motor scooter repair shops Leads in Moscow Oblast
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  • Bankruptcy attorneys Leads in Moscow Oblast
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  • Country food restaurants Leads in Moscow Oblast
  • Dim sum restaurants Leads in Moscow Oblast
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  • Specialized hospitals Leads in Moscow Oblast
  • Bird shops Leads in Moscow Oblast
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  • Construction and maintenance offices Leads in Moscow Oblast
  • Federal courthouses Leads in Moscow Oblast
  • Wheel alignment services Leads in Moscow Oblast
  • Western restaurants Leads in Moscow Oblast
  • Stores and shoppings Leads in Moscow Oblast
  • Clothes and fabric manufacturers Leads in Moscow Oblast
  • Customs offices Leads in Moscow Oblast
  • Electrolysis hair removal services Leads in Moscow Oblast
  • District courts Leads in Moscow Oblast
  • Blood testing services Leads in Moscow Oblast
  • Regional airports Leads in Moscow Oblast
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  • Knife stores Leads in Moscow Oblast
  • Pilgrimage places Leads in Moscow Oblast
  • Railroad companies Leads in Moscow Oblast
  • Incense suppliers Leads in Moscow Oblast
  • Emergency care physicians Leads in Moscow Oblast
  • Telecommunications engineers Leads in Moscow Oblast
  • Hunting stores Leads in Moscow Oblast
  • Photography Institutes Leads in Moscow Oblast
  • Ear piercing services Leads in Moscow Oblast
  • Rock shops Leads in Moscow Oblast
  • ATV repair shops Leads in Moscow Oblast
  • Tuning automobiles Leads in Moscow Oblast
  • Athletic parks Leads in Moscow Oblast
  • Metal Polishers Leads in Moscow Oblast
  • Hypermarkets Leads in Moscow Oblast
  • Photo agencies Leads in Moscow Oblast
  • Used CD stores Leads in Moscow Oblast
  • Bicycle racks Leads in Moscow Oblast
  • Gospel churches Leads in Moscow Oblast
  • District councils Leads in Moscow Oblast
  • Theatrical costume suppliers Leads in Moscow Oblast
  • BBQ areas Leads in Moscow Oblast
  • Mines Leads in Moscow Oblast
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  • Blacksmiths Leads in Moscow Oblast
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  • Amusement machine suppliers Leads in Moscow Oblast
  • Scale repair services Leads in Moscow Oblast
  • Mechanical plants Leads in Moscow Oblast
  • Wood and laminate flooring suppliers Leads in Moscow Oblast
  • Stylists Leads in Moscow Oblast
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  • Moped dealers Leads in Moscow Oblast
  • Wheelchair repair services Leads in Moscow Oblast
  • Wholesaler household appliances Leads in Moscow Oblast
  • Electrical appliance wholesalers Leads in Moscow Oblast
  • Ham shops Leads in Moscow Oblast
  • Kung fu schools Leads in Moscow Oblast
  • Mobile home supply stores Leads in Moscow Oblast
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  • Lamination services Leads in Moscow Oblast
  • Spring suppliers Leads in Moscow Oblast
  • Household goods wholesalers Leads in Moscow Oblast
  • Shoe factories Leads in Moscow Oblast
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  • Gas logs suppliers Leads in Moscow Oblast
  • Pumpkin patches Leads in Moscow Oblast
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  • Coal Suppliers Leads in Moscow Oblast
  • Technology parks Leads in Moscow Oblast
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  • PVC industries Leads in Moscow Oblast
  • Services Leads in Moscow Oblast
  • Toy manufacturers Leads in Moscow Oblast
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  • Bird watching areas Leads in Moscow Oblast
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  • Regional government offices Leads in Moscow Oblast
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  • Sunroom contractors Leads in Moscow Oblast
  • Frozen food manufacturers Leads in Moscow Oblast
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  • Gynecologists Leads in Moscow Oblast
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  • Children's museums Leads in Moscow Oblast
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  • Sculptors Leads in Moscow Oblast
  • Registration offices Leads in Moscow Oblast
  • Veterans centers Leads in Moscow Oblast
  • Computers Leads in Moscow Oblast
  • Ice skating rinks Leads in Moscow Oblast
  • Gazebo builders Leads in Moscow Oblast
  • Pet trainers Leads in Moscow Oblast
  • Emergency training schools Leads in Moscow Oblast
  • Table tennis clubs Leads in Moscow Oblast
  • Painting studios Leads in Moscow Oblast
  • Feed manufacturers Leads in Moscow Oblast
  • IMAX theaters Leads in Moscow Oblast
  • Bicycle clubs Leads in Moscow Oblast
  • Fire department equipment suppliers Leads in Moscow Oblast
  • Construction machine rental services Leads in Moscow Oblast
  • Ski rental services Leads in Moscow Oblast
  • Dart bars Leads in Moscow Oblast
  • Outdoor movie theaters Leads in Moscow Oblast
  • Foundries Leads in Moscow Oblast
  • Prosthetics Leads in Moscow Oblast
  • Statuaries Leads in Moscow Oblast
  • Villas Leads in Moscow Oblast
  • Photo Restoration Shops Leads in Moscow Oblast
  • Car Manufacturers Leads in Moscow Oblast
  • Mathematics schools Leads in Moscow Oblast
  • Plywood suppliers Leads in Moscow Oblast
  • Ski repair services Leads in Moscow Oblast
  • Mobile discoes Leads in Moscow Oblast
  • Medical Book Stores Leads in Moscow Oblast
  • Canneries Leads in Moscow Oblast
  • Household chemicals suppliers Leads in Moscow Oblast
  • Concrete factories Leads in Moscow Oblast
  • Cattle farms Leads in Moscow Oblast
  • Flower markets Leads in Moscow Oblast
  • Fishings Leads in Moscow Oblast
  • Drivers license training schools Leads in Moscow Oblast
  • Multimedia and electronic book publishers Leads in Moscow Oblast
  • Alcohol Manufacturers Leads in Moscow Oblast
  • Knitwear manufacturers Leads in Moscow Oblast
  • Vocal Instructors Leads in Moscow Oblast
  • School bus services Leads in Moscow Oblast
  • Part time daycares Leads in Moscow Oblast
  • Mulch suppliers Leads in Moscow Oblast
  • Fruits Wholesalers Leads in Moscow Oblast
  • Snowmobile dealers Leads in Moscow Oblast
  • Tea market places Leads in Moscow Oblast
  • Tea Exporters Leads in Moscow Oblast
  • Tennis stores Leads in Moscow Oblast
  • Public transports Leads in Moscow Oblast
  • Emergency dental services Leads in Moscow Oblast
  • Foreign languages program schools Leads in Moscow Oblast
  • Village halls Leads in Moscow Oblast
  • Container services Leads in Moscow Oblast
  • Pond contractors Leads in Moscow Oblast
  • Registry offices Leads in Moscow Oblast
  • Organic drug stores Leads in Moscow Oblast
  • Sports medicine physicians Leads in Moscow Oblast
  • Holding companies Leads in Moscow Oblast
  • Ventilating Equipment Manufacturers Leads in Moscow Oblast
  • Yacht brokers Leads in Moscow Oblast
  • Interior plant services Leads in Moscow Oblast
  • Glass block suppliers Leads in Moscow Oblast
  • Glassware manufacturers Leads in Moscow Oblast
  • Glass blowers Leads in Moscow Oblast
  • Optical Wholesalers Leads in Moscow Oblast
  • Log cabins Leads in Moscow Oblast
  • Furnace parts suppliers Leads in Moscow Oblast
  • Rolled metal products suppliers Leads in Moscow Oblast
  • Metal detecting equipment suppliers Leads in Moscow Oblast
  • Metalware dealers Leads in Moscow Oblast
  • STD testing services Leads in Moscow Oblast
  • Auto markets Leads in Moscow Oblast
  • Industrial supermarkets Leads in Moscow Oblast
  • Judo schools Leads in Moscow Oblast
  • Youth Hostels Leads in Moscow Oblast
  • Land surveying offices Leads in Moscow Oblast
  • Beauties Leads in Moscow Oblast
  • Telephone exchanges Leads in Moscow Oblast
  • Telecommunications Leads in Moscow Oblast
  • Fountain contractors Leads in Moscow Oblast
  • Watch Manufacturers Leads in Moscow Oblast
  • Summer camps Leads in Moscow Oblast
  • Utility trailer dealers Leads in Moscow Oblast
  • Money order services Leads in Moscow Oblast
  • Wine cellars Leads in Moscow Oblast
  • Christmas tree farms Leads in Moscow Oblast
  • Entertainments Leads in Moscow Oblast
  • Fishing ponds Leads in Moscow Oblast
  • Novelties Wholesalers Leads in Moscow Oblast
  • Health and beauties Leads in Moscow Oblast
  • Sculpture museums Leads in Moscow Oblast
  • Eastern European restaurants Leads in Moscow Oblast
  • Pediatric ophthalmologists Leads in Moscow Oblast
  • Pediatric cardiologists Leads in Moscow Oblast
  • Heatings Leads in Moscow Oblast
  • Mirror shops Leads in Moscow Oblast
  • Laminating equipment suppliers Leads in Moscow Oblast
  • Gypsum Product Suppliers Leads in Moscow Oblast
  • Financial audits Leads in Moscow Oblast
  • Boarding houses Leads in Moscow Oblast
  • Leasing services Leads in Moscow Oblast
  • Biking trails Leads in Moscow Oblast
  • Cutlery stores Leads in Moscow Oblast
  • Hair extension technicians Leads in Moscow Oblast
  • Car factories Leads in Moscow Oblast
  • Italian grocery stores Leads in Moscow Oblast
  • Staple food packages Leads in Moscow Oblast
  • Flower designers Leads in Moscow Oblast
  • German language schools Leads in Moscow Oblast
  • Massages Leads in Moscow Oblast
  • Kite shops Leads in Moscow Oblast
  • Gymnasium schools Leads in Moscow Oblast
  • Stereo repair services Leads in Moscow Oblast
  • Stucco contractors Leads in Moscow Oblast
  • Toll booths Leads in Moscow Oblast
  • Reptile stores Leads in Moscow Oblast
  • Road cyclings Leads in Moscow Oblast
  • Childrens theaters Leads in Moscow Oblast
  • Theater supply stores Leads in Moscow Oblast
  • Design institutes Leads in Moscow Oblast
  • Hunting preserves Leads in Moscow Oblast
  • Auto radiator repair services Leads in Moscow Oblast
  • Marketings Leads in Moscow Oblast
  • Electricity Boards Leads in Moscow Oblast
  • Dye Stores Leads in Moscow Oblast
  • Textiles Leads in Moscow Oblast
  • Custom tailors Leads in Moscow Oblast
  • Travel services Leads in Moscow Oblast
  • Japanese confectionery shops Leads in Moscow Oblast
  • Childrens cafes Leads in Moscow Oblast
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  • Pretzel stores Leads in Moscow Oblast
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  • Industries Leads in Moscow Oblast
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  • Hockey rinks Leads in Moscow Oblast
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  • Entertainment and recreations Leads in Moscow Oblast
  • Record companies Leads in Moscow Oblast
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  • Auto tag agencies Leads in Moscow Oblast
  • Notaries associations Leads in Moscow Oblast
  • Public defender's offices Leads in Moscow Oblast
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  • Alternator suppliers Leads in Moscow Oblast
  • Pig farms Leads in Moscow Oblast
  • School lunch centers Leads in Moscow Oblast
  • Auto parts markets Leads in Moscow Oblast
  • Car rentals Leads in Moscow Oblast
  • Aluminum frames suppliers Leads in Moscow Oblast
  • Recycling drop-off locations Leads in Moscow Oblast
  • Measuring instruments suppliers Leads in Moscow Oblast
  • Road construction machine repair services Leads in Moscow Oblast
  • Fishing camps Leads in Moscow Oblast
  • Fish processings Leads in Moscow Oblast
  • Fax Service Providers Leads in Moscow Oblast
  • Free parking lots Leads in Moscow Oblast
  • Logging contractors Leads in Moscow Oblast
  • Retail space rental agencies Leads in Moscow Oblast
  • Printer ink refill stores Leads in Moscow Oblast
  • Topsoil suppliers Leads in Moscow Oblast
  • Ponds Leads in Moscow Oblast
  • Internal medicine wards Leads in Moscow Oblast
  • Sugar factories Leads in Moscow Oblast
  • Bingo halls Leads in Moscow Oblast
  • Car sharing locations Leads in Moscow Oblast
  • Airplanes Leads in Moscow Oblast
  • Aerated Drinks Suppliers Leads in Moscow Oblast
  • Stone carvings Leads in Moscow Oblast
  • Shipping equipment industries Leads in Moscow Oblast
  • Parking lot for motorcycles Leads in Moscow Oblast
  • Halfway houses Leads in Moscow Oblast
  • Rice shops Leads in Moscow Oblast
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  • Health counselors Leads in Moscow Oblast
  • Gardening products and services Leads in Moscow Oblast
  • Sport tour agencies Leads in Moscow Oblast
  • Condiments suppliers Leads in Moscow Oblast
  • Eyebrow bars Leads in Moscow Oblast
  • Tanneries Leads in Moscow Oblast
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  • Tune up suppliers Leads in Moscow Oblast
  • Corporate gift suppliers Leads in Moscow Oblast
  • Sand plants Leads in Moscow Oblast
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  • Cosmetics Leads in Moscow Oblast
  • Weightlifting areas Leads in Moscow Oblast
  • Savings banks Leads in Moscow Oblast
  • Bird control services Leads in Moscow Oblast
  • Office supplies Leads in Moscow Oblast
  • Drone shops Leads in Moscow Oblast
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  • Tire repair shops Leads in Moscow Oblast
  • Luggage wholesalers Leads in Moscow Oblast
  • Pediatric neurologists Leads in Moscow Oblast
  • General register offices Leads in Moscow Oblast
  • Personal repair services Leads in Moscow Oblast
  • Syrian restaurants Leads in Moscow Oblast
  • Estate appraisers Leads in Moscow Oblast
  • Paper stores Leads in Moscow Oblast
  • Cider bars Leads in Moscow Oblast
  • Meeting rooms Leads in Moscow Oblast
  • Computer clubs Leads in Moscow Oblast
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  • Faculty of arts Leads in Moscow Oblast
  • Creches Leads in Moscow Oblast
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  • Travels Leads in Moscow Oblast
  • Closed circuit televisions Leads in Moscow Oblast
  • Dog cafes Leads in Moscow Oblast
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  • Otolaryngology clinics Leads in Moscow Oblast
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  • BMX parks Leads in Moscow Oblast
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  • Asian household goods stores Leads in Moscow Oblast
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  • Internets Leads in Moscow Oblast
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  • Prefabricated house companies Leads in Moscow Oblast
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  • MRI centers Leads in Moscow Oblast
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  • Education and cultures Leads in Moscow Oblast
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  • Drawing lessons Leads in Moscow Oblast
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  • Storages Leads in Moscow Oblast
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  • Emergency management ministries Leads in Moscow Oblast
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  • Water skiing services Leads in Moscow Oblast
  • Cultures Leads in Moscow Oblast
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  • Japanese delicatessens Leads in Moscow Oblast
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What We Know About the Global Microsoft Outage

Airlines to banks to retailers were affected in many countries. Businesses are struggling to recover.

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By Eshe Nelson and Danielle Kaye

Eshe Nelson reported from London and Danielle Kaye from New York.

Across the world, critical businesses and services including airlines, hospitals, train networks and TV stations, were disrupted on Friday by a global tech outage affecting Microsoft users.

In many countries, flights were grounded, workers could not get access to their systems and, in some cases, customers could not make card payments in stores. While some of the problems were resolved within hours, many businesses, websites and airlines continued to struggle to recover.

What happened?

A series of outages rippled across the globe as information displays, login systems and broadcasting networks went dark.

The problem affecting the majority of services was caused by a flawed update by CrowdStrike , an American cybersecurity firm, whose systems are intended to protect users from hackers. Microsoft said on Friday that it was aware of an issue affecting machines running “CrowdStrike Falcon.”

But Microsoft had also said there was an earlier outage affecting U.S. users of Azure, its cloud service system. Some users may have been affected by both. Even as CrowdStrike sent out a fix, some systems were still affected by midday in the United States as businesses needed to make manual updates to their systems to resolve the issue.

George Kurtz, the president and chief executive of CrowdStrike, said on Friday morning that it could take some time for some systems to recover.

furniture retail store business plan

How a Software Update Crashed Computers Around the World

Here’s a visual explanation for how a faulty software update crippled machines.

How the airline cancellations rippled around the world (and across time zones)

Share of canceled flights at 25 airports on Friday

furniture retail store business plan

50% of flights

Ai r po r t

Bengalu r u K empeg o wda

Dhaka Shahjalal

Minneapolis-Saint P aul

Stuttga r t

Melbou r ne

Be r lin B r anden b urg

London City

Amsterdam Schiphol

Chicago O'Hare

Raleigh−Durham

B r adl e y

Cha r lotte

Reagan National

Philadelphia

1:20 a.m. ET

furniture retail store business plan

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IMAGES

  1. Furniture Retail Store Business Plan Template

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  2. Business Plan for Furniture Retail

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  3. Furniture Manufacturer Business Plan

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  5. Craft Your Ideal Furniture Retail Store Business Plan

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  6. Store Plan Design, Furniture Design, Branding :: Behance

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COMMENTS

  1. Furniture Store Business Plan Template + Example

    Starting a furniture store business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.. 1. Develop A Furniture Store Business Plan - The first step in starting a business is to create a detailed furniture store business plan that outlines all aspects of the venture.

  2. Furniture Store Business Plan Template [Updated 2024]

    Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a furniture store business plan, your marketing plan should include the following: Product: in the product section you should reiterate the type of furniture store that you documented in your Company Analysis.

  3. Furniture Store Business Plan PDF Example

    The Plan. Our furniture store business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the shop's operations, marketing strategy, market environment, competitors, management team, and financial forecasts. Executive Summary: Offers an overview of your furniture shop's business concept ...

  4. Furniture Shop Business Plan Sample (Free)

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  5. Furniture Store Business Plan Template [2024 Updated]

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  6. Sample Furniture Store Business Plan

    The Furniture Store industry in the United States, currently valued at over $100 billion, is experiencing steady growth due to consumers' increasing interest in enhancing their living spaces. A notable trend is the shift towards online furniture shopping, providing convenience and broader selection for consumers.

  7. Furniture Store Business Plan [Sample Template for 2022]

    Below is the sales projection for Lord Gabby™ Furniture Store, Inc., it is based on the location of our business and other factors as it relates to furniture retail stores start - ups in the United States; First Fiscal Year-: $150,000. Second Fiscal Year-: $450,000. Third Fiscal Year-: $1 million.

  8. Retail Business Plan Template & Sample (2024)

    Industry Analysis. The retail industry in the United States is valued at over $4T currently and is forecasted to reach $4.9T by the end of 2022. This is up from $3.8T in 2019. After a decade of retail decline between 2010 and 2020, the market is rebounding at a surprising rate.

  9. PDF Free Version of Growthinks Furniture Business Plan Template

    At manufacturer's prices the market is estimated at $30.7 billion. The report says that "over the last two decades household furniture purchases increased significantly from $29.3 billion to $78.5 billion, or 168%. In other words, sales increased at an average annual pace of approximately 5.5% over the period.".

  10. Business Plan Template for Furniture Retailers

    An operational plan outlines how your furniture retail business will function on a day-to-day basis. Define your inventory management, supply chain, staffing, and customer service processes. Consider any unique aspects of your business, such as customization options or delivery services, and how they will be implemented.

  11. Furniture Retail: get a solid business plan (example)

    In the "Strategy" section, you will find a detailed growth plan for your furniture retail store business, outlining all the necessary steps and initiatives to ensure its high profitability. Additionally, this section encompasses a comprehensive marketing plan for a furniture shop, a strategy to handle risks, and a filled-in Business Model ...

  12. Craft Your Winning Furniture Retail Business Plan: 9-Step Checklist!

    In conclusion, writing a business plan for a furniture retail store is an essential step in ensuring your success in this competitive industry. By following the 9 steps outlined in this checklist, you can lay a solid foundation for your business and increase your chances of attracting and retaining customers. Remember to conduct thorough market ...

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    Discuss the relevant experience and qualifications of each team member as well as any other applicable information about them. 3. The products and services section. When drafting your business plan for a furniture store, it is important to include an in-depth section on the products and services being offered.

  15. Executive Summary of a Furniture Store: Template & Example

    EcoLux Furniture operates in the burgeoning US furniture retail industry, valued at a staggering $147 billion, with a projected CAGR of +3.98% from 2024 to 2028. Situated in [City/Area], our store capitalizes on [Describe the local market dynamics], catering to a clientele that values premium craftsmanship and sustainable living.

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    Business in a Box templates are used by over 250,000 companies in United States, Canada, United Kingdom, Australia, South Africa and 190 countries worldwide. Download your Furniture Retail Store Business Plan Template in MS Word (.docx). Everything you need to plan, manage, finance, and grow your business.

  17. Furniture Store Business Operations Plan

    6/1/202X - Finalize lease agreement for 4,000 square foot furniture store location. 6/15/202X - Begin build out of leased space. 6/30/201X - Finalize agreements with furniture distributors to schedule their upcoming product deliveries to the store. 7/1/202X - Richard will meet with the chosen advertising agency to hire them to begin ...

  18. Retail Furniture Manufacturer Business Plan Example

    Explore a real-world retail furniture manufacturer business plan example and download a free template with this information to start writing your own business plan. Don't bother with copy and paste. ... The Richmond furniture stores offer a very limited selection of styles in pine. Most products are selected to maximize the store's profit ...

  19. Conn's, a 134-year-old home goods retailer, is closing 70 stores

    Conn's HomePlus, a 134-year-old furniture and electronics retailer with locations primarily in the southern United States, has filed for bankruptcy and is closing nearly half of its 170 stores.

  20. Conn's to close over 70 stores amid bankruptcy speculation

    Conn's is shuttering stores as bankruptcy rumors swirl around the home goods retailer. The company grew to its current size with last year's acquisition of furniture retailer W.S. Badcock ...

  21. Home goods retailer Conn's files for bankruptcy

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  22. Ashley HomeStore in Monroeville on the way

    Expanding furniture retailer set to take the place of a former Phantom Fireworks location along Route 22 towards Monroeville. Ashley HomeStore, currently building out a new store at South Hills ...

  23. Number Of Cabinet stores in Elektrostal'

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  24. Furniture Retailer Conn's Plans Mass Store Closings Ahead of Possible

    Furniture retailer Conn's Inc. is planning to shutter around 100 locations and liquidate the inventory as part of a bankruptcy filing planned for the coming weeks, according to people with ...

  25. Furniture Store Business Plan Company Overview

    Modern Mode Furniture Store is a newly established furniture retail store focusing on modern and trendy furniture for the stylish individual. It is located in Seattle, Washington and will carry products from choice modern furniture designers and warehouses. Some of the furniture will come from overseas (Japan and Sweden).

  26. How to Finance Furniture in 2024

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  27. Number of Educational supply stores in Elektrostal'

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    Enjoy free Email Marketing for a month worth $49 Smartscrapers has the most up to date and comprehensive Bed shops list in Elektrostal'. Our lists are constantly being verified and our database is constantly being updated.

  29. Kapotnya District

    A residential and industrial region in the south-east of Mocsow. It was founded on the spot of two villages: Chagino (what is now the Moscow Oil Refinery) and Ryazantsevo (demolished in 1979). in 1960 the town was incorporated into the City of Moscow as a district. Population - 45,000 people (2002). The district is one of the most polluted residential areas in Moscow, due to the Moscow Oil ...

  30. What We Know About the Global Microsoft Outage

    Across the world, critical businesses and services including airlines, hospitals, train networks and TV stations, were disrupted on Friday by a global tech outage affecting Microsoft users.