How Much Can i Use To Start Up a furniture Business

Good day everyone here, like how much can I use to start up furniture design company in Nigeria and i also want to know if the business is lucrative in this modern time.

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Every residential or corporate building requires furniture. When anyone constructs a house meant for residence, including furniture is a must. If a new company erects a head office, or sets up a new department, they would need brand new furniture for their staff, guests and clients to feel as comfortable as possible.

Running the imported furniture business requires a lot of capital. You could decide to import quality and durable furniture from big name furniture producers or Chinese made furniture. As always, the Chinese made products are much cheaper than the quality ones.

To get an idea of how much capital you would need to begin, first pen down a rough estimate of how many items you would need to have in stock (if you would be selling one furniture type e.g office tables). The second step is to look for a furniture production company in the country you intend buying from.

For example, Chinese office chairs are as cheap as N7,000 while quality chairs form top producers are as expensive as N95,000. Don’t take these prices as basis though, different chair types have different prices, for example, a bar stool would be cheaper than a manager’s chair, and a seat for guests in the reception would have a different price to that of the receptionist or the secretary. Most people import from Asian countries like China, Indonesia and Turkey.

For a start, you would need about N3 million capital (or more) excluding cost of office space and show room.

We have an article that will give you a guide step by step to starting this Lucrative business.

If you need anything else, i will be waiting right here.

Expert Consultant Answered on February 24, 2018.
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