As per the recent prediction by TechSci Research, “Forecasts and Opportunities for the Indian Furniture Market, 2019,” the country’s market for furniture’s is expected to grow by $ 32 billion in 2019. India’s market for furniture’s is predicted to develop at a record pace. This is due to the rapid pace of disposable income growth, development of the middle-income group and increasing city families. Also, the expected increase in the sightseeing and hotel industries should boost demand for furniture in India by 2019. The south region and west region of the country will carry on to be the main sources of expansion of the furniture manufacturers and distribution in these regions. The states of UP, Punjab, Kerala, AP and West Bengal are the major providers of wood, the required raw material for the country’s furniture market.
The growth of the market for furniture’s is increasing due to the growing domestic demand and the variety of exclusive proposes. The demand for the furniture industry is rapidly increasing and should be continuing by 2020 with an annual growth rate of 4%. It is expected that by 2020, low-income customers will be most of the city’s population the rapidly rising segment of the home marketplace.
Mentioned Below is 2 types of furniture business:
The right account of assets is essential for the victory of a furniture shop. However, finding the right inventory of furniture that meets the requirements of customers and avoiding excessive maintenance and storage costs can be difficult. It is also necessary to reduce the danger of aging.
Furniture is usually more expensive than the goods presented by other sellers. This means that you may perhaps require more money to put in the inventory. In the meantime, the trends, preference and seasonal aspects are continually varying, so you probably require making inventory expenditures accordingly.
The market experts say that self-governing furniture shops are more likely to succeed in selling better-quality furniture, as a lot of the bigger vendors offer cheaper options. For a small business, though there is a lot of competition and it is not possible to give high discounts as the large sellers. However, by being very unique and producing high-quality products you can win the game from your competitors.
Another option is to go with the wholesalers and work with them for the sale of your furniture’s to sell. However, we suggest that you need to venture out on your own and sell individually so that you can make your own brand and know your market capabilities also beat your competitors.
We at FlexiLoans offer the best loans for the furniture business and we know exactly why you have to maintain a lot of unique and selling furniture at your shops. We provide loans for your inventory and if you are qualified, you can avail our loans in 2 business days.
Our rough estimate is that you need 15 to 25 lakhs for the following things:
You may need 40 to 50 lakhs for the storage area and the website maintenance cost and the supplying logistics.
After you understand the above features you are ready for the business loans. Now, we would like to tell you that you need to understand the criteria of the basic loan from the private or government lending firms are as follows as per the government rules:
We calculate the EMI on a case to case basis and the process is simple and the pre-processing charges are nominal and both EMI and charges depend on the following parameters.
Do not worry we are there to help you financially. We are customer friendly and help you in each and every procedure to gain your business loan, the only thing you need to do is to understand the features accordingly.