Furniture and house staging is a booming business that allows entrepreneurs to make money from empty apartments while helping homeowners and real estate agents get the most out of their properties. According to one study, staged homes sell 88% faster than those that are not staged. In addition, another report found that professionally-staged homes can fetch up to 6%-20% more in sales price compared to unstaged homes.
With these impressive figures, it’s no wonder why rental furniture staging businesses have become so popular in recent years. But starting and growing a successful furniture rental business takes hard work and dedication. This guide will provide you with all the information you need to start your own furniture rentals and staging business from scratch and tips for keeping it going strong for years to come.
Plan ahead
Plan a timeline for when you want to start the business and when you want to have it up and running fully. Start by researching what licenses and permits you need to get your furniture staging business going and any zoning regulations in your area that may affect your operations.
You’ll also want to consider whether you offer additional services such as home design consulting, photography for buyers, real estate agents, etc. These services can be a great way to help build your furniture and home staging accessories business and make it stand out from the competition.
Research the market
Understand your competitors and the clients you’ll be serving. Determine how many local furniture for staging and businesses exist and what type of services they offer. If you want to be a go-to resource for renting furniture for homeowners and real estate agents, ensure your services are comprehensive and thorough. Identify the furniture rental companies in your area and look at what they offer. Think about how you can differentiate yourself with unique products or services. Additionally, research the property market in your area to get an idea of the types of properties and homeowners you’ll be working with.
Create a business plan.
Write down your goals, strategies, milestones and timeline for achieving them. This will help you to stay focused on the big picture and make it easier to obtain financing if needed. Outline your expenses and marketing plan and what products or services you’ll offer. Additionally, plot out a budget for your business startup expenses and ongoing costs. Define your pricing model, and allocate resources accordingly to ensure profitability.
Secure startup funds
You may need to secure initial funding to get your furniture home staging rental business off the ground. Consider your options, such as taking out a small business loan or seeking investors. Ensure you have a detailed plan and can show potential lenders how you’ll repay the loan.
Decide on Your Niche
Choose furniture styles, colours, and materials that appeal to your target audience. Consider the area you plan to serve and the type of customers you expect to work with to determine best what kind of furnishings and accessories you should offer. Also, research your competitors’ offerings and make sure that yours stands out from the rest.
Your pricing structure
Choose an effective pricing structure and staging process so both you and the client can benefit. Consider your cost of goods, overhead expenses, and services to determine a competitive price point for each staging package you offer. Additionally, outline the terms and conditions associated with renting stage furniture from you, such as any extra fees or damage deposits that may be required.
Find a Location
Consider leasing or buying a warehouse space for storing and managing your inventory. This will make it easier for you to keep track of your furniture pieces and ensure they are in good condition before being rented out. Additionally, having a dedicated location will allow you to set up a showroom where potential customers can come and view the items you have available for rent.
Quality is important
Invest in quality furniture pieces that will stand out to potential clients. Quality pieces of rented furniture will save money, help you attract more customers and ensure that your business is considered reliable and trustworthy in the long run. Take some time to research different office furniture manufacturers to find pieces of the highest standards at an affordable price.
Invest in Technology
Staging furniture rental businesses require a lot of organization and tracking, which is why investing in technology is important. Consider investing in software to help you manage your inventory, track orders, and process payments. This will make it easier for you to streamline the entire rental process and ensure everything runs smoothly.
Create a Website
Having an online presence is essential for any successful business, so create a website for your staging furniture rental business. This will help you to advertise your services and reach potential customers more easily. You can also use the website to showcase different pieces of furniture so that people can get an idea of what kind of items you have available for rent.
Develop Your Brand Identity
Your brand identity is one of the most important aspects of your business. You must create a visual representation of your brand that communicates what you do and why customers should choose you over other companies. Consider creating a logo, tagline artwork, and other visuals representing your furniture staging services.
Create an Online Presence
Design a website, establish social media accounts, and market yourself online to reach more potential buyers and a wider audience. Social media is an effective platform for promoting your services and a great way to interact with potential customers. Additionally, use online advertising platforms such as Google Ads or Facebook Ads to drive more traffic to your website. Focus on keywords related to your niche. Write articles to answer questions like: “How should I stage rented furniture?”, “Where to rent furniture for home staging?”, or “What is the best furniture rental company near me?”. This will help you rank on Google faster.
Marketing
Market your business with social media, local events, and other creative networking ideas. Consider joining local groups, attending networking events, and connecting with like-minded entrepreneurs who may be able to refer clients to you. Ensure everyone knows about your furniture staging and delivery services to attract more customers.
Network and Promote
Getting the word out about your staging furniture rental business is essential to attract customers. Consider attending local networking events and meet-ups to connect with potential clients and other furniture staging rental businesses. Use social media platforms like Facebook, Instagram, and Twitter to showcase your new furniture and services and interact with customers. Promote your business by offering discounts or freebies to attract more people.
Customer Service
Focus on providing excellent customer service to build a strong reputation for your business. Respond quickly to emails and phone calls, and make sure that all of your customers are happy with the service they receive. Additionally, offer after-sale services such as repairs or cleaning to show your customers you value their satisfaction.
Grow Your Business
Once you’ve established a successful home staging furniture rental business, it’s important to keep growing to stay competitive. Consider expanding your offerings to include more furniture pieces or services, such as interior design consultations or home staging advice. As you expand, remember to focus on delivering quality customer service and providing high-quality products to maintain your success.
Conclusion
Starting and growing a successful staging furniture rental business requires dedication and hard work. However, with the right resources and strategies in place, you can create a successful business that will help you generate a steady income stream. Take the time to define your niche, secure startup funds, and invest in technology to put yourself ahead of the competition. Don’t forget to create a strong brand identity and use online marketing tactics to reach potential customers.