Home Furnishing Retail Business Plan in Nigeria

This sample Home Furnishing Business Plan In Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc.
The Home Furnishing Business is a lucrative business that needs a lot of strategic planning to start and a business coach like Dayo Adetiloye to help you start the Implementation.

Description of Home Furnishing Business Plan in Nigeria

Business: Home Furnishing Retailing

Industry: Hospitality

Executive Summary

PATILAD Home Furnishing Retail business was established in the year 2019 at ife town. At PATILAD, we review your wants and needs, then turn them into a reality. This means we do not only provide the best furniture and merchandise, we provide the best furnishing services.

At PATILAD, we have a wide range of furniture types, styles carefully handpicked or made with finesse. We provide everything you need in just one-stop. Our services are not only available to people who want to make their homes feel like a warm blanket after a cold day of playing outside but also people who wish to furnish their offices or commercial spaces to their tastes.

Part of our client review includes weighing their pockets to determine just how expensive each would want their decor to be. We have varieties of high quality merchandise at varied prices. This works to the advantage of those on a low budget who still get to make their homes look amazing. Our focus is to give our clientele the best feelings of their lives when they step into their homes and offices.

PATILAD in addition to the retail of home furnishing merchandises, provide decorating and furnishing services through the use of interior designers and decorators. These interior designers and decorators have gained so much experience and exposure and are trained to transform your home spaces from boring to lively, bland to exciting, ugly to beautiful. We do not only help to create eye catching aesthetics and functionality, but we also promote appealing structures and looks without compromising the space you want.

Problem Statement:

Many individuals and businesses in Ife Town lack access to comprehensive and quality home furnishing services. Customers struggle to find a one-stop solution that not only offers a diverse range of high-quality furniture but also provides expert guidance in decorating and furnishing spaces. The existing options are limited, and people often face challenges in turning their homes or offices into aesthetically pleasing and functional environments within their budget constraints.

Solution Statement:

PATILAD Home Furnishing Retail business addresses the identified problems by offering a holistic solution for home and office furnishing needs. Our establishment, founded in 2019 in Ife Town, stands out by providing a wide range of carefully handpicked or custom-made furniture styles. We go beyond merely selling furniture; our one-stop shop caters to customers who seek both quality merchandise and professional furnishing services.

Our solution encompasses the following key elements:

Diverse Range of Products: PATILAD offers a varied selection of furniture types and styles to cater to different preferences and needs. This ensures that customers can find suitable options regardless of their taste or budget.
Affordability: Understanding the financial diversity of our clientele, we offer high-quality merchandise at varied price points. This allows individuals on a budget to enhance their living or working spaces without compromising on quality.
Comprehensive Furnishing Services: PATILAD distinguishes itself by not only retailing home furnishing products but also providing decorating and furnishing services. Our team of experienced interior designers and decorators collaborates with clients to transform spaces, making them visually appealing, functional, and tailored to individual tastes.
Customer-Centric Approach: We prioritize understanding our clients’ wants, needs, and budget constraints. This client-focused approach guides us in delivering personalized solutions that exceed expectations, whether for residential or commercial spaces.

Our products and services

PATILAD will provide the following products and services:

Extensive furnishing products including chairs, couches, tables, dressers, dining tables, stools, mirrors, lounges, screens, wall decorations, bathroom ensembles, blankets, carpets, rugs, cushions, drapery, illuminated mannequins etc.
As it is not practicable to stock all the products in our store, we provide purchase order services.
Decorating services by our interior designers and decorators.
Interior design consultation.

Benefits of our services and products

PATILAD prides in selling high quality furniture and accessories.
We provide decorating services in addition to retailing.
We focus on customer satisfaction and gratification.
Clients are provided access to any of our expert interior designers or decorators to help in selecting furniture and decor accessories for an added fee.
PATILAD provides Interior design consulting services.
Purchase order services.
We are budget Flexible.

Objectives of the Home Furnishing Retailing Business Plan in Nigeria

To cater to the Furnishing needs of the local community.
To become the leading Home Furnishing Business hub in Ife town.
To expand to nearby South-west regions and eventually across Nigeria.
To increase our sales revenue by 50% by 2021.
To earn 30% market share.
To maximize profits by investing in mass purchase of furnishing supplies.
To reduce the unemployment rate in the local community and subsequently the country thereby promoting the nation’s economy.

Vision statement of the Home Furnishing Retailing Business plan in Nigeria

Our vision is to expand across Africa. To be the leading international Furnishing supply and manufacturing company offering original, superior and the finest products and services.

Mission statement of the Home Furnishing Retailing Business plan in Nigeria

Our mission is to be our clientele’s favorite organization to purchase their furnishing products and services through reliability, flexibility, focus on quality and providing value for money.

Management team of the Home Furnishing Retailing Business Plan in Nigeria

Uchemba Williams – is a graduate of interior design from Simplinteriors School of Interior Design & Entrepreneurship in Surulere, Lagos Nigeria. He has over 5 years of experience as an interior designer and his strengths lies in business communication, negotiation, vision, project management, creativity, budget, technical drawing, Adobe suite and lots more. Uchemba is a goal driven and efficient individual which makes him in ch arge of the day to day operations of PATILAD home Furnishing Retailing.

Funmi Aderibigbe – is a detailed oriented and artistic interior designer with over 150 successful jobs. She has over 15 years’ experience as an interior designer. Her critical thinking, visualization skills, spatial awareness, and computer skills makes her the interior consultant at our organization. She is a part time worker at our organization. Funmi is a graduate of Humber College in Toronto, Canada. She has a master’s degree in interior design.

Mr Dayo Adetiloye – (B. Agric., MBA, and PMP): He has over 15 years’ experience in business management, business start-up dynamics, financial management of business and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner.

Read Also: Nail-Spa-Business-Plan-in-Nigeria

We brought to the business:

Educational skill and practical experience in Home Furnishing Retailing business.
Exclusive creativity subject to wants.
High quality Furnishing accessories and merchandise.
Customer satisfaction.
Quality and flexible services on budget.
Interior design consulting services.
Purchase order services.
Decorating services.
Our staff brings operational, marketing and promotional skills to the business.

Management experience gained for the Home Furnishing Retailing Business Plan in Nigeria

I have more than an aggregate of 25 years’ experience as a business manager both home and abroad. Also, i have an accounting bachelor’s degree holder of AdekunleAjasin University, Akungba, Ondo state. I also have a mastersdegree(MSC) in business and management in Aston business university, Birmingham, United Kingdom.

For my long track record of displaying a solid knowledge of business operations and I have received quite a number of employee awards for my problem solving acumen, leadership skills, business management, discipline, business consciousness and communication skills. All these have helped me in the building of work discipline, productivity and growth in my organization.

I am the CEO of the organization overseeing the day to day activities of the business.

Materials and machines or Home Furnishing Retailing Business in Nigeria

Computer(s) and software, network and internet connection, point of sale or pay out terminal, telephone, mailing equipment, shredder, multifunction printer, portfolio, accessory rack, chairs, stools, dressers, book shelves, lounges, couches, recliners, dining tables, tables, side tables, mirrors, wall art, bathroom ensembles, blankets, carpets, rugs, cushions, drapery, illuminated mannequins etc.

COMPETITOR ANALYSIS OF HOME FURNISHING RETAILING BUSINESS PLAN IN NIGERIA

People patronize because of the following reasons:

Core professionalism.
Budget flexibility.
Unique Furnishing Accessories and Furniture.
Skilled workers and professionals.
Customer satisfaction and gratification.
Exclusive creativity subject to demand.
Purchase order services.
Interior design consulting services.

Our major competitive advantages are;

1. Decorating Services in Addition to Retailing:
  - Strength: Offering decorating services sets PATILAD apart from traditional furniture retailers. This added service provides customers with expert guidance in transforming their spaces, ensuring a cohesive and aesthetically pleasing environment.
  - Impact: Customers benefit not only from purchasing furniture but also from professional assistance in arranging and decorating their homes or offices, resulting in a more satisfying and visually appealing outcome.
2. Interior Design Consulting Services:
  - Strength: The inclusion of interior design consulting services showcases a commitment to comprehensive solutions. Trained professionals assist clients in making informed decisions, considering both functionality and aesthetics.
  - Impact: Clients receive personalized advice, ensuring that the chosen furniture and decor align with their preferences, lifestyle, and the intended purpose of the space.
3. Unique Furnishing Accessories and Furniture:
  - Strength: Offering unique and carefully curated furnishings sets PATILAD apart from competitors. This uniqueness adds value to the shopping experience and contributes to creating distinctive living and working spaces.
  - Impact: Customers have access to exclusive and stylish pieces, allowing them to express their individuality and create spaces that stand out.
4. Core Professionalism:
  - Strength: Emphasizing core professionalism signifies a commitment to excellence in both products and services. This professionalism builds trust with customers, assuring them of a reliable and high-quality experience.
  - Impact: Clients can expect a seamless and professional engagement throughout the entire process, from browsing products to utilizing furnishing services.
5. Purchase Order Services:
  - Strength: Providing purchase order services adds convenience for customers, especially those seeking to furnish commercial spaces. This service streamlines the procurement process for bulk orders.
  - Impact: Businesses can efficiently acquire the required furnishings for their offices, contributing to a smoother and more organized setup.
6. Exclusive Creativity Subject to Want:
  - Strength: Tailoring creativity based on customer preferences ensures a personalized touch to each project. This approach reflects a commitment to fulfilling individual desires and creating unique, customized spaces.
  - Impact: Clients experience a sense of ownership and satisfaction as their specific wants and needs are translated into tangible and creative furnishing solutions.
7. Budget Flexibility:
  - Strength: Offering budget flexibility acknowledges the diverse financial situations of customers. Providing options at varied price points ensures accessibility for a broader range of clients.
  - Impact: Individuals with different budget constraints can find suitable and quality furnishings, expanding the market reach of PATILAD.
8. Customer Satisfaction:
  - Strength: Prioritizing customer satisfaction reflects a customer-centric approach. Happy and satisfied customers are more likely to become repeat customers and recommend PATILAD to others.
  - Impact: Positive customer experiences contribute to brand loyalty and word-of-mouth marketing, fostering long-term success for the business.
In summary, PATILAD’s competitive advantages encompass a holistic approach to home furnishing, combining retail with professional services, unique offerings, and a commitment to customer satisfaction. These factors position PATILAD as a comprehensive and customer-focused solution in the home furnishing industry

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