Starting a Business
Opening an Antique Furniture & Lighting Business
This advice is ideal for those who are thinking about starting an antique furniture and lighting business. Make sure you consider this advice before you begin your venture.
We share a number of practical suggestions on what it takes to start an antique furniture and lighting business.
How to Create a Winning Antique Furniture & Lighting Company Business Plan
You've heard that a quality business plan is the first step toward a successful antique furniture and lighting business.
The consequences of neglecting your antique furniture and lighting company's business plan can be severe - lenders and investors don't seriously consider funding businesses that lack a viable business plan.
If that's not enough, consider that business plans inoculate your business from common startup mistakes. If your business plan includes accurate industry metrics and conservative forecasts, your business will be less vulnerable to market fluctuations and catastrophic surprises.
Review Competitors
Long before you open an antique furniture and lighting business in your area, it's essential to determine how you will fit in the competitive landscape. We've provided the link below to help you find competitors nearby. After clicking on the link, type in your city, state and zip code to get a list of antique furniture and lighting businesses near you.
Is the local market large enough to support another antique furniture and lighting business? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
If you are seriously contemplating launching an antique furniture and lighting business, you really ought to learn from folks who are already in business. If you think owners of nearby antique furniture and lighting businesses will give you advice, think again. Why would they want to educate a future competitor?
However, a fellow entrepreneur who has started an antique furniture and lighting business outside of your community can be a great learning resource for you, as long as they don't view you as a competitive threat. Many business owners are happy to give advice to new entrepreneurs In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
Where do you find an entrepreneur who is running an antique furniture and lighting business outside of your area who is willing to talk?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Acquisitions vs. Startups
Unfortunately, many inexperienced antique furniture and lighting business entrepreneurs approach ownership with the mistaken idea that a startup is their only option when they could also pursue a business acquisition.
Unless you have compelling reasons to launch a new business, buying an existing antique furniture and lighting business may be the better choice.
Established antique furniture and lighting businesses are already equipped with the resources and processes new business owners struggle to acquire. If you're diligent about finding the right acquisition prospect, you may be able to leverage a business buying strategy to rapidly propel yourself into a position of industry leadership.
Don't Rule Out Franchising
Going with a franchise allows you to benefit from franchisor expertise and name recognition.
Prior to starting an antique furniture and lighting business, you ought to determine whether franchise opportunities in your space might alleviate your startup process.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
Other Useful Articles for Startup Entrepreneurs
These additional resources regarding getting started as an entrepreneur may be of interest to you.
Characteristics of Successful Entrepreneurs
Consideration Before Buying a Franchise
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