How to Make a Business Out of Reselling Mid-Century Furniture

How to Make a Business Out of Reselling Mid-Century Furniture

How to Make a Business Out of Reselling Mid-Century Furniture

In today’s age of consumerism, customers purchase products at a rate higher than ever before. This leads to customers discarding goods, even if they’re in relatively good condition, to make way for new purchases, as reported by This World Matters. For instance, it’s fairly common for households to replace their furniture every few years to keep up with the latest home decor styles. For entrepreneurs looking to start a retro furniture reselling business, this presents a unique business opportunity. Rather than letting households discard their furniture in the trash, you can step in, purchase items for cheap and resell them for a profit. In this article by Mid Century, we’ll explore the best steps entrepreneurs should take to establish a profitable furniture reselling business.

Source Your Products

The key to running a successful reselling business will be having a steady supply of resellable furniture. Here are a few options to consider:

Local Thrift Shops: Items of everyday use, such as chairs, tables, stools, etc., can commonly be found at local thrift shops. But, before purchasing, do a thorough evaluation of its condition. While it’ll certainly need some cosmetic changes, stay away from damaged goods that require a significant amount of time and investment to be resold.

Facebook Marketplace/Craigslist: Online marketplaces are still as popular as before when it comes to selling furniture. Surfing through Craigslist and Facebook Marketplace, you’ll find a host of listings related to mid-century furniture, which you can purchase for a fraction of its original value.

Online Auction Sites: While these sites won’t be as useful as the above two options, it’ll serve you well to periodically check its listings and make bids on furniture items you deem fit for reselling.

Set Your Margins

As a rule of thumb, resale furniture should be priced at 70-80% of the product’s original value. For instance, if an original mid-century couch set costs $1000, your resell price should be set between $700 – $800. However, pricing will heavily depend on your cost of sourcing, repair, shipping, and more.

Your goal as a business should be to maintain a healthy margin allowing you to be self-sustainable. At the start, margins can be lowered to undercut competitors and develop a customer base. A great way to keep margins low can be to adopt a pick-up model for the fulfillment of orders.

Dedicate Resources Towards Marketing

As a new business, marketing will play a key role in educating customers regarding your products and services. Additionally, you’ll need to hone your efforts towards the niche of customers in the market for resale furniture. This can be achieved by using relevant hashtags on platforms such as TikTok, Instagram, Twitter, etc. Additionally, consider joining existing Facebook groups and Reddit communities to connect directly with customers and engage in conversations regarding their needs, expectations, and pain points.

In addition, here are some must-have marketing mediums to consider for your business:

Website: A website will be more than a place to promote and sell products. It will be used to collect valuable customer data and analyze it to develop a deeper understanding of customers and use it to customize product offerings and services.

Instagram/Facebook: Given that both these platforms allow businesses to sell products directly to customers from their website or app, it’s imperative to create business accounts on both and list all your products, as reported by Shopify. Additionally, use your feed to drive traffic to the website where customers can be persuaded to sign up and provide details such as their name, email, and product preferences.

Business Cards: Whether it be during networking events or when customers come to collect their orders, sharing a business card is a great marketing medium for creating strong connections with customers and developing brand awareness plus recall. When it comes to business card design, use an online generator that provides an array of customizable templates.

Starting a retro furniture reselling business can be both fun and profitable if done correctly. The success of the business will depend on sourcing quality products and utilizing effective marketing techniques like social media, business cards, and a great website.



5 Tips for Running Your Small Business Efficiently


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5 Tips for Running Your Small Business Efficiently

If you’re just getting a new business up and running or feel your company needs a tune-up, there are many ways to streamline your tasks. Statistics show that 85% of employees are not engaged at work, but working smarter and not harder can increase focus. By tweaking the way you operate, you can save yourself time and focus on the things that really matter. Here are five tips from Midcentury Preservation Society to get you started.

  1. Get Organized

Getting your documents, inventory, and workspace in order is paramount to the amount of mental clarity you experience. If you have difficulty keeping track of things, you will become buried in searching and clutter. Start by digitizing your papers. Use a scanning app to produce high-quality, searchable scans of documents. Text recognition means you can type in any key phrase in a document and pull it up quickly. Then, you can get rid of the physical congestion in your office.

Good organization is about more than your physical space. Once you’ve gone through the papers and organized your office space, use your calendar to schedule regular time for upkeep and to keep track of your daily schedule. Keeping your mind and schedule organized will help you to keep your space tidy, too.

  1. Solidify Your Business Structure

If you are a sole proprietor, you don’t always have to register your business officially. However, doing so can offer you lots of protection and make filing taxes easier. Look at how to start an LLC, or Limited Liability Company. An LLC will protect your personal assets and make filing taxes easier. Each state has different rules for filing, so be sure to research your specific area. In addition, you can use an online service to get professional support and expedite the process.

  1. Find a Community

In today’s individualized world, it’s easy to think you can or need to do everything on your own. But having support can help you navigate challenging times and get advice from others who have more experience. It can also provide networking opportunities and a chance to provide mutual help to other budding entrepreneurs.

Joining your local chamber of commerce is an excellent place to start—your local chamber of commerce advocates for policies that help small businesses in your area. Many chambers have large memberships and events that members can attend to connect with one another. You can also dramatically improve your networking by getting the word out via social media.

  1. Communicate Clearly

Excellent communication is the key to thriving relationships, business or otherwise. Studies show that poor communication can result in a failure to complete projects up to 44% of the time. Thankfully, there are lots of tools available that help teams stay on the same page. Apps like Trello, Evernote, and Slack help teams communicate and share deadlines and documents. Which app will work best for you will be determined by how big your team is, among other factors. Many of these apps have free basic features that allow you to try them with no risk.

It’s also important to communicate clearly with clients and vendors. You can use an invoice maker to create customized invoices with your logo and company specifics. Start with one of many template options, and change the font, text, and colors to match your needs. Then, there will never be a question about who owes what amount and for what good or service.

  1. Foster Creativity

It’s easy to get stuck in rote thinking patterns when you complete the same tasks every day. Making an effort to brainstorm and think outside of the box can help you be more innovative. One simple trick is changing your environment. For instance, if you work from home, even