Every economy encounters some financial crisis and the United States economy is no exception. However, the economy is on its road to recovery. Two of the main factors facilitating this progress include the continually improving labor market and the healthy growth rate maintenance. The growth in the economy has resulted in a strong housing market that is characterized by increasing home price levels and enhanced statistics for home sales. Consequently, the housing market has facilitated the growth of healthy furniture and home furnishing sales. As a matter of fact, the sales of home furnishing and furniture sales have increased by 8%.
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250k Min. Cash Required
Found 19 franchises
From these facts, a stable economic prediction foretells that the furniture industry can grow at a rate of 2.9 percent in the year 2019. Currently, the furniture industry contributes a revenue of $96 billion in the United States. Furniture franchises deal with a lot of products far from beds, chairs, and tables. There are therefore a lot of opportunities available for you to start a store in this industry. The opportunities range from rental to repair stores. You can specialize in any of the furniture business and this can be the beginning of your success as an entrepreneur. Design and build furniture services, for example, provide customers with a place where they can have decorations or furniture custom made for their homes. Rental furniture franchises on the other hand offer quality furniture to customers who pay in installments. The mattress suppliers offer a service that every person needs; comfortable mattresses for quality sleep. In the modern day, home furnishings and furniture stores are doing better than some retail trade businesses like clothing stores and department stores. To support this claim, over the last couple of years, furniture store sales have outpaced clothing store sales by 10.7 percent and department stores sales by 16.6 percent. It is predicted that this trend might continue over the next 3 years, is a stable macro environment continues to thrive within this furniture industry. When it comes to spending, young people spend less as compared to the older generation because their average disposable income is lower. Millennials account for 28% of the total amount of money spent on the bedding and furniture industry. Baby boomers represent 36% of the total purchases in the same industry. From the same study, generation X seems to be a significant consumer of the furniture and bedding industry as their consumption has increased by 43% over the last two years. $34.7 billion has been spent on furniture alone and baby boomers remain to dominate the market as the biggest spenders. In spite of this fact, their value of transaction in the last two years has declined by 17 percent. The future of the furniture industry in the United States is very promising. This is mainly because the industry is improving the housing market and following the broader economic recovery. In the year 2014, the U.S furniture market was approximately $96.4 billion this figure is expected to increase at a compound growth rate of 2.9 percent annually, through 2019. In the same year, millennials became the largest group of consumers as they increased their furniture spending by 142% between the years 2012 and 2014. By the year 2012, the furniture market will generate 27 percent revenue from online sales. Here are some important points of information to research before you decide on which Furniture franchise is best for your situation.
1. Check out all the other franchise locations and other types of Furniture franchise market competition in your area.
2. Research each Furniture franchise and list the services they offer and specialize in to determine the best fit for you.
3. Review each Furniture franchise and make a chart that includes franchise fee, startup cost, cash investment, etc.
4. Call and talk with current franchise owners and get their opinion on the pros and cons of the different franchise options.
At Franchise Clique, we are proud to present a variety of Furniture franchise opportunities in our listings. Find your next investment today!
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