How to Open Used Furniture Stores
Opening a used furniture stores not only offers customers with inexpensive furnishings but it also allows for a revamp of furniture pieces that could have ended up as scrap. As you may know by repairing used furniture and/or revamping it you could produce a new signature piece to add to the appeal of a prospective customer's home.
- Obtain a business license for your used furniture store. Determine the name in which you wish to use for this business and review the available business licenses. Once you make a final selection of license type apply for this license and pay the applicable fee.
- Obtain a tax ID from the federal office of the Internal Revenue Service. It is possible for you to apply for this tax ID online via the IRS website. If you intend to hire employees you also need an employer identification number from the IRS.
- Secure funding for your used furniture store. Apply for funding through banks and financial institutions to obtain this funding.
- Work with a real estate agent to locate and secure a location for your used furniture store. If possible purchase an existing furniture store as it will possess existing fixtures. With existing fixtures you save money on necessary equipment needed for your used furniture store.
- Set up your used furniture store. Paint the walls and design a logo for your storefront. Purchase your used furniture pieces from vendors or through flea markets and yard sales. Set up cash registers and have your utilities turned on.
- Hire employees if you have decided that you need staff for your used furniture store. Carefully screen your employees based on guidelines you develop for your business.