Starting a Business
Starting an Antique Furniture Refinishing Business
Launching an antique furniture refinishing business is an excellent entrepreneurial opportunity as long as you separate yourself from the competition. Here is a friendly, comprehensive guide on successfully operating a small business.
Here are a number of practical recommendations on how to open an antique furniture refinishing business.
Creating Business Plans for an Antique Furniture Refinishing Business
Does your antique furniture refinishing business have a business plan? If not, your company is lacking a critical business tool. With the right ingredients, your business plan will keep you new venture on course and help you avoid the pitfalls that plague other startup entrepreneurs.
Although many entrepreneurs write their own business plans, others outsource business plan creation to a professional business plan writer.
Professional business plans can often be more effective than plans that are created in-house. However, outsourcing doesn't completely eliminate your responsibilities in the writing process.
As the primary stakeholder in your antique furniture refinishing business, you will intentionally need to insert yourself in various stages of the plan's development.
Look Over the Competition
Prior to launching an antique furniture refinishing business in your area, it's worthwhile to find out how you will fit in the competitive landscape. We've provided the link below to help you find competitors in your area. Just enter your city, state and zip code to get a list of antique furniture refinishing businesses in your community.
Is the established competition doing a good job? It's important to understand their strengths and weaknesses and think through how you'll stake up against those established businesses.
Learn from Others Who Are Already In This Space
As part of your due diligence on opening an antique furniture refinishing business, it's a smart move to learn from folks who are already in business. If you think your local competitors will give you advice, you're being overoptimistic. The last thing they want to do is help you to be a better competitor.
However, a fellow entrepreneur who has started an antique furniture refinishing business in another town may be more than happy to give you a few tips, given that you don't compete with them in their area. In fact, they are often very willing to share startup advice with you. If you are persistent, you can find a business mentor who is willing to help you out.
Where does one find an antique furniture refinishing business entrepreneur on the other side of the country to talk to?
Here's one way to do it. Just use our link below, find somebody and call them.
Is It Easier to Buy an Existing Antique Furniture Refinishing Business?
Tough decisions are what business ownership is all about. And one of the first decisions you'll have to make is whether to start a business from scratch or buy an existing antique furniture refinishing business.
In general, purchased antique furniture refinishing businesses fare better than startups, at least during the initial few years. From a financial perspective, you'll receive more income sooner in a business purchase than you will in a startup.
Entrepreneurs who are committed to a highly unique value proposition may need to pursue a startup approach. But whenever possible, we recommend carefully surveying the business-for-sale marketplace before committing to a startup approach.
Is Franchising the Right Option?
Recognize that your chances of doing well in business are higher if you opt for franchising and leverage their successful brand and track record.
If you are thinking about opening an antique furniture refinishing business, you would be wise to check out whether franchise opportunities in your space might increase your chances of success.
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.
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