The tendency to find beautiful small products to decorate your home has become more and more interesting. Beautifying your home, your home is also a way to create a better living environment, a new space and spirit.
What do I need to do business in home decorations? A copy of what should be included in your home business plan. Let’s analyze and give 100startupideas.com the necessary content in this article Business Plan (Business Startup) offline!
THE FIRST STEP IN A HOME DECORATIONS BUSINESS PLAN IS MARKET RESEARCH
Just like any other startup business idea, our home decorations business needs to study the market.
Currently, the demand for home decoration products is growing. If it was before, each of us just wanted to have a cozy home to live in. Now that demand has completely changed.
When you have your own home, each individual will begin to have the psychology and the tendency to decorate, design it according to his style, his preferences to help create a unique space.
Realizing that need, many domestic establishments have begun producing more items and products to decorate their homes. But strong competitors from abroad appeared.
Like many other products, Vietnamese customers always have much more foreign psychology. Products imported from abroad often have unique and creative designs and designs with many different prices for customers to choose.
Meanwhile, home-made items at home-made prices are too expensive, making the price of products higher than foreign products. And domestic products are also difficult to compete in style.
Market research helps us know that the trend of customers who are in love with foreign goods nowadays is better than choosing a good source.
In addition, a small market niche in the market of home decorations business is being considered by many customers, which are handmade ornaments.
Although the creativity and originality of these products is very high, but the price is not cheap, only high-income customers are willing to spend money to own these items.
STEP 2: FIND SUPPLIERS OF PRODUCTS NEEDED FOR BUSINESS
After researching the market, identifying the products and products we will be trading to choose suppliers.
If you choose a low-cost market segment, targeting low-income customers, you can import goods at low-cost domestic production establishments, or import products from suppliers. Foreign level as in China.
If you choose high-end decorative items, you should import goods from famous brands in the furniture industry in the world and in Vietnam.
How to choose the source of goods will greatly affect your investment costs, so be careful and research carefully!
STEP 3: PREPARING HOW MUCH CAPITAL IS ENOUGH TO START A HOME DECORATION BUSINESS
As mentioned above, we will choose the market segment for business. If customers are high-income people and trade in high-end interior decoration products, the minimum investment cost is 500 million.
As for the segment of cheap interior decoration, the cost of 100startupideas.com is 200 million.
This cost is used to pay for goods importation, premises leasing, staff recruitment, advertising, provisioning … in the beginning, we should not import too many goods and expand business scale so with this capital, 100startupideas.com think that will fit.
STEP 4: SEARCH FOR CUSTOMERS
The next step is to find customers. After we have identified our target customers, we need to find ways to attract and introduce products to customers. Customers can be companies, households living in apartment buildings, … Always in the initiative to reach customers, never sit in a place to wait for customers to find you.
STEP 5: SET FUTURE GOALS
In the plan, it is necessary to set a target to strive for each stage and have a specific time for completion and content. Setting goals will help you navigate and map out your direction. During operation will not be misleading. Having a goal will help you know what you need to do and try your best to succeed.
STEP 6: ANALYZING YOUR STRENGTHS AND WEAKNESSES FOR STARTING A BUSINESS OPENING A HOME DECORATION BUSINESS
With this step, based on what you have to analyze your strengths and weaknesses, it is appropriate to implement this idea at that time or not.
Analyzing strengths and weaknesses, opportunities for challenge are the basis for you to introduce the SWOT matrix, thereby helping to analyze and propose business strategies suitable to your current situation.
STEP 7: SELECT A BUSINESS ORGANIZATION MODEL
Do you want to open a company that specializes in interior decoration business or just a small business shop? To decide which organizational model to choose, you must rely on your own capital, experience and orientation.
Each organizational model will have its own advantages and disadvantages. Analyze each of these difficult advantages and compare it to what you have to see if it is appropriate and then make a decision.
STEP 8: MAKE A MARKETING PLAN FOR YOUR BUSINESS
Marketing plan is the 8th step you need to have in your business plan. The Marketing Plan shows the content and measures to be taken to attract customers, sell more goods, and create competitive advantage with competitors.
Also, you should take advantage of the internet to develop your home decorations business. Because today, the number of people accessing and using the internet is very high.
It will help you increase your ability to reach customers the most. Smoothly combining both traditional and online sales channels will bring the best business results.
STEP 9: HUMAN RESOURCE MANAGEMENT – HUMAN MANAGEMENT
With that scale of business, do you need to recruit employees. Employees need to have sales skills and knowledge of furniture and decorations to provide the best advice and customer support.
In addition, you need to recruit accounting and delivery staff to help the business better.
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