With our current situation where most of us are suffering from the pandemic, it could be a 50-50 decision to start up a business. Nevertheless, having this kind of opportunity is life-changing. Who wouldn’t want to be the boss of their own company? We are living in a disposable society but the upholstery business never goes away.
If we think of a great business to start we have to be optimistic about furniture upholstery because this industry doesn’t slow down. It’s always in demand. You can start at your own home. Yes, you read it right you can do home base work and work your way up to the top. Business owners start from scratch.
You don’t have to be a college degree holder to start a business; Bill Gates, one of the richest people in the world, dropped out from college to work on Microsoft business. Mark Zuckerberg, founder of Facebook dropped out from Harvard to start his business.
The list goes on; if you have a passion for upholstery it’s time to start your own. You can check these things if you plan to start an Upholstery business.
STEP 1: Business Planning
A concrete plan is significant for the success of a business. You can map the growth of your business and discover some unknown issues beforehand. This would also help you realize your priorities. Few questions you need to find answers are:
▪ What is the cost of start-up and on-going business?
▪ Who is the target market?
▪ How much can you charge for every customer?
▪ What’s your business name?
STEP 2: Tax Registration
To make your business legal, you need to register your business for state and federal taxes. You might need to apply for EIN. You ask government officials all the necessary documents to comply before submission to avoid exhaustion.
STEP 3: Set up Business Accounting
For you to know what are the various expenses and sources of income. You have to understand the financial performance of your business. You must have higher profit than cost. If you keep accurate and detailed account records using ERP accounting software, it will help you file annual tax easily.
STEP 4: Insured your Business
Talking about legalities, licences and permits are needed as well as business insurance for you to operate safely and lawfully. It protects your company’s financial wellbeing in case it covers loss.
Step 5: How Do You Promote & Market an Upholstery Business
Upholstery fabrics are good business that can be promoted online through ad campaigns. It is a smart move if you can focus on a defined geographic area like your nearby city or province.
You can offer nationwide delivery too if the business is stable. Posting business cards on the community bulletin board and placing an advertisement in local newspapers and magazines would make your business known.
Extra Tips
- Answer all emails– Prospective customers would take time to write through emails or inquiries are the ones who really want your service.
- Social media channels are relevant to growing business nowadays. Create your own website so you can manage the messages and can reply instantly.
- Go for an extra mile. Good feedback from customers makes a business owner feel satisfied with the service they have given. Going the extra mile for every customer would give you more than just five-star rating.
- Give your buyer something they didn’t expect. Let’s say they purchase 2 yards of linen and wool. 2 or 4 pillowcases made with the same fabric would be your giveaway. These are just simple things to promote your other product.
- Keep your promises- Customers hate tardiness. If we promise to meet up for a client, we have to make sure we are right on time. Making a huge impression on time makes a difference. Some cultures may have accepted “late-time” for hang outs but not for business.
To Conclude
Starting up a business is never an easy journey. You will stumble and fall. You will meet obstacles and circumstances financially, physically and mentally. But if you love what you are doing. No one can ever pull you down when you are doing things lawfully.
Step up your game and always accept changes. Remember “the only constant in the world is change”. Coping up with changes sounds strenuous but everything will pay off in time.