Furniture Manufacturing Business Plan [Sample Template]

Are you about starting a furniture manufacturing company? If YES, here’s a complete sample furniture manufacturing business plan template & feasibility report you can use for FREE to raise money.

The furniture manufacturing industry is indeed a lucrative one. However, it is such that requires plenty of capital to start. This type of business needs loads of manpower as well as capital to run. This is essentially because it requires that furniture in produced and you will agree with me that this will include lots of processes. From sourcing for the raw materials to preparing the materials and what have you.

A Sample Furniture Manufacturing Business Plan Template

1. Industry Overview

It is an established fact that furniture is a major part of our lives cum facilities; there is hardly any facility that you will come across that you won’t find a piece of furniture in it. This goes to show that the furniture manufacturing industry is indeed an important sector of the economy of any country.

Businesses in this industry mainly manufacture or make household (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise), outdoor and office furniture (Desks and home office goods, lamps, recliners, rugs and outdoor furniture make up the rest of sales).

The Furniture Manufacturing industry is indeed a major sector of the economy of the united states of America which generates a whopping sum of well over billion annually from more than 3,533furniture manufacturing companies scattered all around the United States of America. The industry is responsible for the employment of well over 105,640 people.

Experts project the furniture manufacturing industry to grow at a 2.0 percent annual rate. The establishment in this industry that has a dominant market share in the United States of America are; Ashley Furniture Industries, Inc., Herman Miller, HNI Corporation and Steel Case.

Research carried out by IBISWORLD clearly stated that proximity to downstream markets is an important competitive factor in this industry, since it enables furniture manufacturers to increase the speed of delivery and reduce transportation costs.

The regions in the United States that accounts for the largest number of furniture manufacturing companies also have the largest populations. With 25.8 percent of the industry establishments and more than a quarter of the US population, the Southeast region of the United States houses the largest number of industry facilities.

Little wonder this region also accounts for the highest number of furniture wholesalers and retailers, making it an ideal location for household furniture manufacturers that want to be in close proximity to downstream buyers.

Over and above, the furniture manufacturing industry is a profitable industry and it is open to any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in small furniture making workshop or you can chose to start on a large scale with a standard furniture making workshop and several outlets in key cities through the United States of America and Canada.

2. Executive Summary

Bill The Carpenter™ Furniture, Inc. is a standard and registered furniture manufacturing that will be located in Sharonville – Ohio; in an ideal location highly suitable for the kind of business we want to establish. We have been able to lease a facility that is big enough (a 20 thousand square foot facility) to fit into the design of the kind of standard furniture manufacturing company that we intend launching.

Bill The Carpenter™ Furniture, Inc. will manufacture a wide range of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise), outdoor and office furniture (Desks and home office goods, lamps, recliners, rugs and outdoor furniture).

We are set to services a wide range of clientele in and around Sharonville – Ohio. We are aware that there are several large and small furniture manufacturing companies all around Ohio, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

Bill The Carpenter™ Furniture, Inc. will ensure that all our customers are given first class treatment whenever they visit our furniture manufacturing workshop. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to.

Bill The Carpenter™ Furniture, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Bill The Carpenter™ Furniture, Inc. is a family business that is owned by Bill Moore and his immediate family members. Bill Moore has a Diploma in Furniture Making and a B.Sc. in Business Administration, with well over 15 years of experience in the furniture industry, working for some of the leading brand in the United States.

3. Our Products and Services

Bill The Carpenter™ Furniture, Inc. is in the furniture manufacturing industry to manufacture both home and office furniture; to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to give our clients and potential clients options.

We will do all that is permitted by the law of the United States to achieve our business goal, aim and ambition of starting the business. Our product offerings are listed below;

Manufacturing of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise),
Manufacturing stationary sofas/sofa-sleepers
Manufacturing metal household and office furniture
Manufacturing custom architectural woodwork and other fixtures
Manufacturing showcases, partitions, shelving and lockers

4. Our Mission and Vision Statement

Our vision is to become the leading brand in the furniture manufacturing industry in Ohio and to establish a one furniture manufacturing company in Ohio.
Our mission is to establish a world – class furniture manufacturing business whose products will not only be retailed in the United States of America, but also be exported to other countries of the world.

Our Business Structure

Bill The Carpenter™ Furniture, Inc. do not intend to start a furniture manufacturing business like the usual carpenter shops around the street corner; our intention of starting a furniture manufacturing company is to build a standard and one stop furniture manufacturing company in Sharonville – Ohio.

Although our furniture manufacturing company might not be as big as Ashley Furniture Industries, Inc., Herman Miller, HNI Corporation and Steel Case et al, but we will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

Chief Executive Officer (Owner)
Workshop Manager
Human Resources and Admin Manager
Merchandize Manager
Sales and Marketing Manager
Carpenters and Furniture Markers
Accountants / Cashiers
Customer Services Executive
Cleaners

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for fixing prices and signing business deals
Responsible for providing direction for the business
Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for signing checks and documents on behalf of the company
Evaluates the success of the organization
Reports to the board

Admin and HR Manager

Responsible for overseeing the smooth running of HR and administrative tasks for the organization
Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
Defines job positions for recruitment and managing interviewing process
Carries out staff induction for new team members
Responsible for training, evaluation and assessment of employees
Responsible for arranging travel, meetings and appointments
Oversees the smooth running of the daily office activities.

Workshop Manager:

Responsible for managing the daily activities in the workshop
Ensures that proper records of furniture are kept and warehouse does not run out of finished furniture
Ensures that the workshop is in tip top shape and easy to locate
Interfaces with third – party suppliers (vendors) of raw materials (woods, forms, clothes, steels, nails and accessories et al)
Controls furniture distribution and supply inventory
Supervises the workforce in the furniture manufacturing workshop.

Merchandize Manager

Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
Helps to ensure consistent quality of furniture making raw materials are purchased and used for the manufacturing of furniture
Responsible for the purchase of furniture raw material for the organizations
Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
Ensures that the organization operates within stipulated budget.

Sales and Marketing Manager

Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
Models demographic information and analyze the volumes of transactional data generated by customer purchases
Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
Develop, execute and evaluate new plans for expanding increase sales
Document all customer contact and information
Represent the company in strategic meetings
Help increase sales and growth for the company

Carpenters and Furniture Making Experts

Responsible for manufacturing of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise),
Responsible for manufacturing stationary sofas/sofa-sleepers
Manufactures household and office metal furniture
Manufactures custom architectural woodwork and other fixtures
Manufactures showcases, partitions, shelving and lockers.

Accountant / Cashier:

Responsible for preparing financial reports, budgets, and financial statements for the organization
Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
Responsible for financial forecasting and risks analysis.
Performs cash management, general ledger accounting, and financial reporting
Responsible for developing and managing financial systems and policies
Responsible for administering payrolls
Ensures compliance with taxation legislation
Handles all financial transactions for the organization
Serves as internal auditor for the organization

Client Service Executive

Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries

Cleaners:

Responsible for cleaning finished furniture and the workshop facility at all times
Ensures that toiletries and supplies don’t run out of stock
Cleans both the interior and exterior of the workshop facility
Handles any other duty as assigned by the workshop manager.

6. SWOT Analysis

Bill The Carpenter™ Furniture, Inc. is in business to become one of the leading office and household furniture manufacturing companies in the whole of Sharonville – Ohio and we are fully aware that it will take the right business concept, management and organization – structure to achieve our goal.

We are quite aware that there are several furniture manufacturing companies all over Sharonville – Ohio and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Bill The Carpenter™ Furniture, Inc. employed the services of an expert HR and Business Analyst with bias in manufacturing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Bill The Carpenter™ Furniture, Inc.;

Strength:

Our core strength lies in the high quality of our finished furniture, the power of our team and the state of the art and well – equipped furniture making factory that we own. We have a team of highly trained and experienced carpenters and support staff members that can go all the way to produce top notch office and household furniture.

We are well positioned in the heart of Sharonville – Ohio and we know we will attract loads of clients from the first day we open our furniture manufacturing company for business.

Weakness:

A major weakness that may count against us is the fact that we are a new furniture manufacturing company and we don’t have the financial capacity to compete with multi – billion dollars furniture manufacturing companies such as Ashley Furniture Industries, Inc., Herman Miller, HNI Corporation and Steel Case et al when it comes to manufacturing furniture at a rock bottom prices.

So also, we may not have enough cash reserve to promote our furniture manufacturing company the way we would want to do.

Opportunities:

The fact that we are going to operate our furniture manufacturing company in one of Sharonville – Ohio provides us with unlimited opportunities to sell our furniture to a large number of individuals and corporate organizations.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our furniture manufacturing workshop; we are well positioned to take on the opportunities that will come our way.

Threat:

Just like any other business, one of the major threats that we are likely going to be faced with is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new furniture manufacturing company in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

Market Trends

If you are conversant with the Furniture Manufacturing Industry, you will quite agree that the changes in disposable income, consumer sentiment, ever changing trends and of course the rate of homeownership is major growth drivers for this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Furniture Manufacturing industry.

So also, the rising demand for both home and office furniture, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as furniture stores keep prices low to attract more sales amid growing competition.

A close watch on the industry activities reveals that, the Retail Market for Home Furniture and Bedding was hit hard by the recent economic downturn and experienced a decline in revenue in recent time.

Lastly, in recent time, the furniture manufacturing landscape has seen tremendous changes in the last 20 years; it has grown from the smaller carpenter workshop to a more organized and far reaching massive furniture making factory. This trend has benefited them in such a way that they can comfortably sell their furniture nationally and also export them to other countries of the world.

8. Our Target Market

Perhaps it will be safe to submit that the furniture manufacturing industry has the widest range of customers; almost everybody on planet earth has one or more things that they would need in their houses or offices from a furniture retail store. It is difficult to find households and office facilities without one form of furniture or the other.

In view of that, we have positioned our furniture manufacturing company to service the residence of Sharonville – Ohio and every other location where showroom cum outlets will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to manufacture a wide range of furniture to the following groups of people and corporate organizations;

Households
Bachelors and Spinsters
Corporate Executives
Business People
About to wed couples
Corporate Organizations / Offices
Government Offices
Schools and Students (Library inclusive)
Churches and other religious centers

Our Competitive Advantage

A close study of the furniture manufacturing industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiffer competition and we are well prepared to compete favorably with other leading furniture manufacturing companies in Sharonville – Ohio and throughout the United States and Canada. Bill The Carpenter™ Furniture, Inc. is launching a standard furniture manufacturing company that will indeed become the preferred choice of residence of Sharonville – Ohio and every other location where our showrooms and outlets will be opened.

Our furniture manufacturing company is located in an ideal property highly suitable for the kind of manufacturing company that we want to run. We have enough parking space that can accommodate well over 30 cars / trucks per time.

One thing is certain; we will ensure that we manufacture a wide range of furniture products in our furniture manufacturing workshop at all times. It will be difficult for customers to visit our furniture showroom and not see the type of furniture that they are looking for.

One of our business goals is to make Bill The Carpenter™ Furniture, Inc. a one-stop furniture manufacturing company for both household and corporate organizations. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups furniture manufacturing companies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

Sources of Income

Bill The Carpenter™ Furniture, Inc. is in business to manufacture and retail a wide range of furniture to the residence of Sharonville – Ohio. We are in the furniture manufacturing industry to

Manufacturing of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise),
Manufacturing stationary sofas/sofa-sleepers
Manufacturing metal household and office furniture
Manufacturing custom architectural woodwork and other fixtures
Manufacturing showcases, partitions, shelving and lockers

10. Sales Forecast

One thing is certain when it comes to furniture manufacturing business, if you are into the manufacturing or various types of both home and office furniture and even outdoor furniture, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Sharonville – Ohio and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the furniture manufacturing industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Sharonville – Ohio.

Below is the sales projection for Bill The Carpenter™ Furniture, Inc., it is based on the location of our business and other factors as it relates to furniture retail stores start – ups in the United States;

First Fiscal Year-: $350,000
Second Fiscal Year-: $750,000
Third Fiscal Year-: $1 million

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor manufacturing or retailing same furniture products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Marketing Strategy and Sales Strategy

Before choosing a location for Bill The Carpenter™ Furniture, Inc., we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Sharonville – Ohio.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the furniture manufacturing industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Sharonville – Ohio.

In order to continue to be in business and grow, we must continue to manufacture and sell the furniture that is available in our showrooms which is why we will go all out to empower our sales and marketing team to deliver. In summary, Bill The Carpenter™ Furniture, Inc. will adopt the following sales and marketing approach to win customers over;

Open our furniture manufacturing company and showroom in a grand style with a party for all.
Introduce our furniture manufacturing company by sending introductory letters alongside our brochure to organizations, households and key stake holders in Sharonville – Ohio
Ensure that we manufacture a wide range of home and office furniture
Make use of attractive hand bills to create awareness and also to give direction to our furniture showrooms
Position our signage / flexi banners at strategic places around Sharonville – Ohio
Position our greeters to welcome and direct potential customers
Create a loyalty plan that will enable us reward our regular customers
Engage on road shows within our neighborhood to create awareness for our furniture manufacturing company and showroom.
List our business and products on yellow pages ads (local directories)
Leverage on the internet to promote our business
Engage in direct marketing and sales
Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our furniture manufacturing company and showroom is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our furniture manufacturing company.

Bill The Carpenter™ Furniture, Inc. has a long term plan of opening our showrooms in various locations all around Sharonville – Ohio and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Sharonville – Ohio before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Bill The Carpenter™ Furniture, Inc.;

Place adverts on community based newspapers, radio stations and TV stations.
Encourage the use of word of mouth publicity from our loyal customers
Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
Ensure that our we position our banners and billboards in strategic positions all around Sharonville – Ohio
Distribute our fliers and handbills in target areas in and around our neighborhood
Contact corporate organizations, households, landlord associations and schools by calling them up and informing them of Bill The Carpenter™ Furniture, Inc. and the furniture products we manufacture and sell
Advertise our furniture manufacturing company and showroom in our official website and employ strategies that will help us pull traffic to the site
Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to furniture manufacturing companies, it is normal for consumers to go to places (furniture manufacturing companies and showrooms) where they can get home and office furniture at cheaper price which is why big player in the furniture stores industry like Ashley Furniture Industries, Inc., Herman Miller, HNI Corporation and Steel Case and co will always attract loads of corporate and individual clients.

We know we don’t have the capacity to compete with Ashley Furniture Industries, Inc., Herman Miller, HNI Corporation and Steel Case et al, but we will ensure that the prices and quality of all the furniture products that we manufacture and are available in our showroom are competitive with what is obtainable amongst furniture stores within our level.

Payment Options

At Bill The Carpenter™ Furniture, Inc., Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;

Payment by cash
Payment via Point of Sale (POS) Machine
Payment via online bank transfer (online payment portal)
Payment via Mobile money
Payment with check from loyal customers

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for furniture purchased.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a furniture manufacturing business; it might differ in other countries due to the value of their money. This is the key areas where we will spend our start – up capital on;

The Total Fee for Registering the Business in the United States of America – $750.
Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
Marketing promotion expenses for the grand opening of Bill The Carpenter™ Furniture, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
The total cost for hiring Business Consultant – $2,500.
The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400.
The total cost for long – term leasing of a standard warehouse and showroom – $250,000
The total cost for remodeling the warehouse and showroom – $20,000.
Other start-up expenses including stationery ($500) and phone and utility deposits – ($2,500).
Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
The total cost for Start-up inventory (purchase of furniture making tools and equipment and the purchase of furniture making raw materials inclusive) – $250,000
The total cost for counter area equipment – $9,500
The total cost for store equipment (cash register, security, ventilation, signage) – $13,750
The total cost for the purchase and installation of CCTVs: $10,000
The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
The total cost of launching a Website: $600
The total cost for our opening party: $7,000
Miscellaneous: $10,000

We would need an estimate of $950,000 to successfully set up our furniture retail store in Sharonville – Ohio. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding / Startup Capital for Bill The Carpenter™ Furniture, Inc.

Bill The Carpenter™ Furniture, Inc. is a private business that is solely owned and financed by Bill Moore and his immediate family members. We do not intend to welcome any external business partner, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

Generate part of the start – up capital from personal savings
Source for soft loans from family members and friends
Apply for loan from my Bank

N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $700,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Bill The Carpenter™ Furniture, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to manufacture durable and quality furniture and to retail our wide range of quality home and office furniture a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Bill The Carpenter™ Furniture, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare is well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

Business Name Availability Check: Completed
Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Leasing of facility and remodeling the facility (warehouse and showroom): In Progress
Conducting Feasibility Studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
Recruitment of employees: In Progress
Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
Creating Official Website for the Company: In Progress
Creating Awareness for the business both online and around the community: In Progress
Health and Safety and Fire Safety Arrangement (License): Secured
Opening party / launching party planning: In Progress
Compilation of our list of products that will be available in our store: Completed
Establishing business relationship with vendors – manufacturers and suppliers of home and office furniture: In Progress