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Home Decor Business Plan Template

Written by Dave Lavinsky

home decor business plan

Home Decor Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their home decor companies. 

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a home decor business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your home decor business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start a home decor business or grow your existing home decor company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your home decor business to improve your chances of success. Your home decor business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Home Decor Businesses

With regards to funding, the main sources of funding for a home decor business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan (hand it to them in person or email to them as a PDF file) and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for home decor companies.

Finish Your Business Plan Today!

How to write a business plan for a home decor business.

If you want to start a home decor business or expand your current one, you need a business plan. The guide and sample below details the necessary information for how to write each essential component of your home decor business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of home decor business you are running and the status. For example, are you a startup, do you have a home decor business that you would like to grow, or are you operating a chain of home decor businesses?

Next, provide an overview of each of the subsequent sections of your plan. 

  • Give a brief overv iew of the home decor industry. 
  • Discuss the type of home decor business you are operating. 
  • Detail your direct competitors. Give an overview of your target customers. 
  • Provide a snapshot of your marketing strategy. Identify the key members of your team. 
  • Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of home decor business you are operating.

For example, you m ight specialize in one of the following types of home decor businesses:

  • Complete home decor service : Full-service home decor design and placement. This type of company utilizes designers who visit in-home clients for consultations and recommendations through the home decor replacement process.
  • Restore or replace decor service: Clients request partial home decor service for one room or one area of the home, often with restoration goals for furnishings. Designers visit in-home to fulfill these requests.
  • Online home decor service: This service includes online consultations and recommendations for customers via video or by photos submitted. Designers make recommendations for online or in-store purchases.  
  • Home decor accessory service: Customers may choose to change interior accessories to suit special occasions or seasons. Designers may offer in-home visits and recommendations with follow-up visits.

In addition to explaining the type of home decor business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include the number of home decor clients served, or reaching X$ revenue generated through sales. 
  • Your legal business structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the home decor industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the home decor industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your home decor business plan:

  • How big is the home decor industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential target market for your home decor business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your home decor business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals or families.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of home decor business you operate. Clearly, homeowners in high-end homes would respond to different marketing promotions than homeowners in starter homes, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers. Ideally you can speak with a sample of your target customers before writing your plan to better understand their needs.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are othe r home decor businesses. 

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes furniture-restoring companies, department stores, furniture stores, paint or wallpaper outlets, upholstery stores, etc. You need to mention direct competition, as well.

For each direct competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

  • What types of customers do they serve?
  • What type of home decor business are they?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide cost-saving decor ideas for individuals in starter homes?
  • Will you offer digital room-mapping services that your competition doesn’t?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a home decor business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type o f home decor company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide brand name accessories at reduced prices, reupholstered furnishings, upscale room designs, or rewards for frequent customers?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of yo ur plan, yo u are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your home decor company. Document where your company is situated and mention how the site will impact your success. For example, is your home decor business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your home decor marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

  • Advertise in local papers, radio stations and upscale magazines
  • Reach out to websites 
  • Distribute flyers
  • Engage in email marketing
  • Advertise on social media platforms
  • Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your home decor business, including setting appointments, planning and providing home decor assistance, invoicing clients and paying bills, etc. 

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth client session, or when you hope to reach $X in revenue. It could also be when you expect to expand your home decor business to create a franchise.

Management Team

To demonstrate your home decor business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience in managing home decor businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a home decor business or successfully running a home furnishings department in a retail store.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance s heet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you see 5 new clients per day, and/or offer home decor parties within certain neighborhoods ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your home decor business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. 

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a home decor business:

  • Cost of decor and furnishing samples, photography, videography and office supplies
  • Payroll or salaries paid to staff
  • Business insurance
  • Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a list of contracted clients you serve.

Writing a business plan for your home decor business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the home decor industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful home decor business.

Home Decor Business Plan FAQs

What is the easiest way to complete my home decor business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your home decor business plan.

How Do You Start a Home Decor Business?

Starting a home decor business is easy with these 14 steps:

  • Choose the Name for Your Home Decor Business
  • Create Your Home Decor Business Plan
  • Choose the Legal Structure for Your Home Decor Business
  • Secure Startup Funding for Your Home Decor Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Home Decor Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Home Decor Business
  • Buy or Lease the Right Home Decor Business Equipment
  • Develop Your Home Decor Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Home Decor Business
  • Open for Business

Where Can I Download a Free Business Plan Template PDF?

Click here to download the pdf version of our basic business plan template.

Our free business plan template pdf allows you to see the key sections to complete in your plan and the key questions that each must answer. The business plan pdf will definitely get you started in the right direction.

We do offer a premium version of our business plan template. Click here to learn more about it. The premium version includes numerous features allowing you to quickly and easily create a professional business plan. Its most touted feature is its financial projections template which allows you to simply enter your estimated sales and growth rates, and it automatically calculates your complete five-year financial projections including income statements, balance sheets, and cash flow statements. Here’s the link to our Ultimate Business Plan Template.

Don’t you wish there was a faster, easier way to finish your Home Decor business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.  

Click here to see how a Growthink business planning consultant can create your business plan for you.

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Home Decor Business Plan Template

Written by Dave Lavinsky

Home Decor Business Plan

You’ve come to the right place to create your Home Decor business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Home Decor businesses.

Below is a template to help you create each section of your Home Decor business plan.

Executive Summary

Business overview.

Urban Harmony Home Decor is a startup home decor company located in Los Angeles, California. The company is founded by Jasmine LeFleur, who has experience in home decor. Now, with the expertise of knowledge and business acumen, she has determined she can confidently start and effectively grow a successful Urban Harmony Home Decor company. She believes her experience of strategic growth, marketing skills, financial capabilities, and wide and deep knowledge of home decor practices will provide everything needed for long-term growth and profitability.

Urban Harmony Home Decor will provide a comprehensive array of services and products for a wide variety of clients. Urban Harmony Home Decor will be the premier destination for home decor items, providing services and products to each client while supporting the strategic goals of the company. Urban Harmony Home Decor will be the ultimate choice in Los Angeles for clients to ensure that every need of the customer is fully and completely met.

Product Offering

The following are the services that Urban Harmony Home Decor will provide:

  • Home decor selections that have been curated with select partnering pieces
  • A wide range of high-quality and stylish home furnishings
  • Software to create home spaces and align decor within them
  • Technology-driven measuring systems for homes and furnishings
  • Home decor that reflects life values and unique personalities
  • Handmade pieces selected to enhance the harmony of the home
  • Decorative Accessories offered include artwork, vases and sculptures
  • Premium bedding, curtains, rugs, and cushions are offered
  • Lighting solutions include lamps, chandeliers, and ambient lighting solutions
  • Superior customer service and attentive personal attention to each client.

Customer Focus

Urban Harmony Home Decor will target individuals who live in the Los Angeles region. They will target upper-economic zone homeowners throughout Beverly Hills, Newport Beach, Orange County and other regions. They will target real estate agents and home designers and decorators. They will target celebrity agents.

Management Team

Urban Harmony Home Decor will be owned and operated by Jasmine LeFleur. She recruited her former administrative assistant, Ida Renoir, to be the Office Manager for the new company, in addition to being her executive assistant. In addition to select retail staff members, Jasmine recruited her friend and executive Lyon Daniels to become the new Director of Furnishings. Jasmine LeFleur is a graduate of the Parsons School of Design in New York City. She is known for her opulent and seductive urban designs, including handwoven textiles and lush applications of texture within the home walls. Her expertise was developed during ten years of experience as a home design partner with Don Dryden, a celebrity home design consultant. During those years, Jasmine learned how to use her skills and designs to bring together a series of rooms in any home.

Ida Renoir was the administrative assistant to Jasmine LeFleur for six years at the former employer’s work sites. Ida was extremely organized and talented with her customer service skills. Jasmine has hired Ida to be the new Office Manager, in addition to being her executive assistant in the company.

Lyon Daniels holds a degree in Business Applications from University of California, Los Angeles. He has over ten years of experience as a designer and operations manager in his former employment, where he garnered many compliments from satisfied clients who requested him multiple times while decorating their homes. Lyon will become the Director of Furnishings in the new company.

Success Factors

Urban Harmony Home Decor will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly-qualified team of Urban Harmony Home Decor
  • Comprehensive menu of products and services designed to meet even the most discriminating client need.
  • Personal design specialists who will offer home consultations
  • Modern, minimalistic, classic and eclectic designs from which to choose
  • Urban Harmony Home Decor offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.

Financial Highlights

Urban Harmony Home Decor is seeking $200,000 in debt financing to launch Urban Harmony Home Decor. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:

  • Office space build-out: $20,000
  • Office equipment, supplies, and materials: $10,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $10,000
  • Working capital: $10,000

The following graph outlines the financial projections for Urban Harmony Home Decor.

Urban Harmony Home Decor Pro Forma Projections

Company Overview

Who is urban harmony home decor.

Urban Harmony Home Decor is a newly established, full-service home decor company in Los Angeles, California. Urban Harmony Home Decor will be the most luxurious, multi-design environment choice for individuals and families in Los Angeles and the surrounding communities. Urban Harmony Home Decor will provide a comprehensive menu of design services for any client to utilize. Their full-service approach includes a comprehensive array of design options in price choices from modest to ultra-luxury.

  Jasmine LeFleur will be able to manage a staff of several employees. The team of professionals are highly qualified and experienced in home decor, fabrics, textiles, wall treatments and design features. Urban Harmony Home Decor brings a fresh, appealing to every home and removes all the headaches of trying to pull together items to create a cohesive design. Urban Harmony Home Decor ensures all issues are taken care of expeditiously for each client, while delivering the best customer service.

Urban Harmony Home Decor History

Urban Harmony Home Decor is owned and operated by Jasmine LeFleur. As a former home decor designer for several years, she developed a unique capability to find the decor items and furnishings that clearly reflect an urban, chic, California-style home. She has managed design projects for home and commercial projects alike and has now determined she is ready to take her skills and knowledge to venture out on her own by starting her own company. She has gained the trust and commitment of several clients in advance of opening her business and will sign contracts with each when the company launches.

Since incorporation, Urban Harmony Home Decor has achieved the following milestones:

  • Registered Urban Harmony Home Decor, LLC to transact business in the state of California.
  • Has a contract for a 10,000 square foot design studio at one of the midtown buildings
  • Reached out to numerous contacts to include Urban Harmony Home Decor in new design projects.
  • Began recruiting designers and office personnel to work at Urban Harmony Home Decor

Urban Harmony Home Decor Services

The following will be the services Urban Harmony Home Decor will provide:

  • Superior customer service and attentive personal attention to each client

Industry Analysis

The home decor industry is expected to grow over the next five years to over $62277M. The growth will be driven by an interest fueled by the pandemic years when design and decor did not grow at all. The fast pace within the home decor industry now has triggered a renewed drive to design and add home decor to small and large homes, businesses, commercial areas and government buildings. The growth will also be driven by the increased availability of exotic international textures, fabrics, lampshades, lighting fixtures and other decor items. The doors are open to new designs and new rooms to place those items with flair and urban coziness.

Costs will likely be reduced as technology moves more toward optimizing daily tasks so that company personnel can avoid mundane work. Costs will also likely be reduced as design pieces and decor, along with furnishings, will once again ship through internationally to fill design centers will plenty of inventory, which will reduce prices. The availability of lower-than-expected textiles and fabrics from India has also led to prices being reduced with, possibly, further price reductions in the future from that area of the globe.

Customer Analysis

Demographic profile of target market.

Urban Harmony Home Decor will target individuals who live in the Los Angeles region. They will target upper-economic zone homeowners throughout Beverly Hills, Newport Beach, Orange County and other regions. They will target real estate agents, home designers and decorators. They will target celebrity agents.

Customer Segmentation

Urban Harmony Home Decor will primarily target the following customer profiles:

  • Residents within certain areas of Los Angeles
  • Upper-income homeowners throughout select regions, such as Beverly Hills
  • Real estate agents
  • Home designers
  • Home decorators
  • Celebrity agents

Competitive Analysis

Direct and indirect competitors.

Urban Harmony Home Decor will face competition from other companies with similar business profiles. A description of each competitor company is below.

Classic Living Decor

Classic Living Decor located in Orange County, California, was started by Tina Murray in 2019. She is a home design expert, having graduated from the Chicago Institute of Design and practicing her craft for over 15 years. Her style of preference is the “classic” decor with a balanced design that tells guests one lives in California. This translates to cool blue, tangerine, white and other beach colors, all designed within classic lines of furnishings. Tina was personally designing for friends when she realized she needed to start her own company. The company is highly-profitable and currently Tina has seven executive personnel on staff, fifteen clerks and design assistants, along with two retail locations specializing in classic home decor design.

Handmade Home Specialties

While on a buying trip for a retail employer, David Landon realized the beauty and sustainability of international textiles. In Egypt and India, he located multiple suppliers of those textiles and returned home to start his new company, Handmade Home Specialties. He currently has one retail store and two design specialists who work with select clients to develop photos or illustrations of the textiles desired. Those are then sent to the country best suited to create the textiles and the clients wait for finished pieces to be sent.

Handmade Home Specialties has handmade textiles for every buyer, from modestly-priced to opulent, with the idea that textiles bring warmth and comfort to every room and should be found in every person’s home.

Townsend & Hatch Home Decor

Marc Townsend and Darlyn Hatch are co-owners of the Townsend & Hatch Home Decor company. Founded in 2018, Marc and Darlyn were formerly employed as designers in a large upscale department store who determined that they would be able to become more profitable and enjoy their life experiences more as business owners. They started the new company in a warehouse in midtown, where it quickly grew to over 20,000 feet in size.

Because of the extremely reasonable prices for home decor and the extensive experience Marc and Darlyn carried, the company has grown to become extremely competitive with other home decor stores.

Competitive Advantage

Urban Harmony Home Decor will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

Urban Harmony Home Decor will offer the unique value proposition to its clientele:

  • Highly-qualified team of skilled employees who are able to provide a comprehensive home decor plan
  • Unbeatable pricing to its clients; they will offer comparative pricing to the competition

Promotions Strategy

The promotions strategy for Urban Harmony Home Decor is as follows:

Word of Mouth/Referrals

Jasmine LeFleur has built up an extensive list of contacts over the years by providing exceptional service and expertise to her clients. The contacts and clients will follow her to her new company and help spread the word of Urban Harmony Home Decor.

Professional Associations and Networking

The staff at Urban Harmony Home Decor will join the professional associations throughout the region to spread the word of the new company. They will also join national trade organizations and international collaborations to ensure they receive textiles and decor that complement their styles throughout the company.

Print Advertising

A direct mail piece will be sent to select individuals and companies prior to the launch of the company. A champagne launch party will be held on opening day of the company with select guests present.

Website/SEO Marketing

Urban Harmony Home Decor will fully utilize their website. The website will be well organized, informative, and list all the services that Urban Harmony Home Decor provides. The website will also list their contact information and display various pieces of home decor for consideration. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “home decor company” or “design near me,” Urban Harmony Home Decor will be listed at the top of the search results.

The pricing of Urban Harmony Home Decor will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Urban Harmony Home Decor. Operation Functions:

  • Jasmine LeFleur will be the owner and president of the company. She will oversee all staff and manage client relations. Jasmine has spent the past year recruiting the following staff:
  • Ida Renoir will be the administrative assistant who will manage the office administration, client files, and accounts payable.
  • Lyon Daniels will be the Director of Furnishings, all client oversight, inventory selection and furnishings specialist

Milestones:

Urban Harmony Home Decor will have the following milestones completed in the next six months.

  • 5/1/202X – Finalize contract to lease office space
  • 5/15/202X – Finalize personnel and staff employment contracts for the Urban Harmony Home Decor
  • 6/1/202X – Finalize contracts for Urban Harmony Home Decor clients
  • 6/15/202X – Begin networking at industry events
  • 6/22/202X – Begin moving into Urban Harmony Home Decor office
  • 7/1/202X – Urban Harmony Home Decor opens its doors for business

Financial Plan

Key revenue & costs.

The revenue drivers for Urban Harmony Home Decor are the fees they will charge to clients for their products and services.

The cost drivers will be the overhead costs required in order to staff Urban Harmony Home Decor. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Urban Harmony Home Decor is seeking $200,000 in debt financing to launch its home decor company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Clients Per Month: 70
  • Average Revenue per Month: $45,000
  • Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, home decor business plan faqs, what is a home decor business plan.

A home decor business plan is a plan to start and/or grow your home decor business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. You can easily complete your Home Decor business plan using our Home Decor Business Plan Template here .

What are the Main Types of Home Decor Businesses?

There are a number of different kinds of home decor businesses, some examples include: Complete home decor service, Restore or replace decor service, Online home decor service, and Home decor accessory service.

How Do You Get Funding for Your Home Decor Business Plan?

Home Decor businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Home Decor Business?

Starting a home decor business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster. 1. Develop A Home Decor Business Plan - The first step in starting a business is to create a detailed home decor business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your home decor business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your home decor business is in compliance with local laws. 3. Register Your Home Decor Business - Once you have chosen a legal structure, the next step is to register your home decor business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 4. Identify Financing Options - It’s likely that you’ll need some capital to start your home decor business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 7. Acquire Necessary Home Decor Equipment & Supplies - In order to start your home decor business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your home decor business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

ProfitableVenture

Home Decoration Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » B2C Sector

Are you about starting a home decoration business? If YES, here is a complete sample home decoration business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a home decoration business. We also took it further by analyzing and drafting a sample home decoration marketing plan template backed up by actionable guerrilla marketing ideas for home decoration businesses. So let’s proceed to the business planning section.

If you are interested in starting a home decoration business, you can be rest assured that there is no limit to the fortune you can make from the industry as long as you are creative and have good networking skills. If you are looking for a business to start as an entrepreneur with a design and creativity background, then you can consider starting your own home decoration company.

Although a home decoration company can be operated from home, especially if it is being managed by an individual, but it pays to operate from an office facility. The truth is that you would need an office space to be able to run this type of business if indeed you want to work for corporate organizations and even government agencies.

Just ensure that you secure an office decent enough to host the caliber of clients you will be dealing with. An office in the business district of your city might just be ideal for you – but all the same, you don’t need to go beyond your means to get a very expensive office space. It is advisable to start your business small and then grow it big.

If indeed you are interested in starting a home decoration company, then you will surely find this comprehensive business plan very helpful.

A Sample Home Decoration Business Plan Template

1. industry overview.

Interior decorators, also known as home decorators, work with homeowners or business owners to furnish and adorn an interior space according to their preferences. The decorator must usually work within a budget and order the necessary design elements for their clients.

The truth is that interior design is a multidimensional vocation that covers activities such as conceptual development, communicating with the stakeholders of a project, management and of course the execution of the design (project).

Home decoration companies are responsible for planning the design of both living and commercial facilities such as hotel, motels and lodges; they have mastered the art of turning their ideas or concept into reality. The projects that home decorators handle can be broad in scope.

It could range from structural modifications to the selection of matching furniture, curtains or blind, wallpaper and lighting et al.

The Interior Designers industry is indeed a big industry that has experienced consistent growth and innovations over the last five years. However, the industry is projected to experience marginally better conditions over the next five years.

As long as the housing market is expected to improve strongly, there will also be corresponding growth for residential interior designers as existing home sales and housing stats make up ground over the five-year period.

So also, increase in corporate profit, growth and expansion of corporate organization will open up business opportunities of interior design companies because there will be need for organizations to remodel their facilities to meet up with changing trends.

Statistics has it that the Interior Designers industry has a low level of market share concentration. For instance, in 2016, the top four leading interior decoration companies accounted for less than 10.0 percent of the industry’s total revenue. It is fact that market share concentration has not changed significantly in the last five years.

It is important to clearly state that the Interior Designers industry is a highly fragmented industry with thousands of players, of which only a small percentage of the players generated an annual revenue exceeding $1.0 million. A large number of players in interior designer industry are self-employed because of the nature of the job they do and of course the low startup capital required to start the business.

The interior design industry is indeed a very large industry and pretty much active in all the parts of the world. Statistics has it that in the united states of America alone, there are about 102,848 registered home decoration cum interior design companies responsible for employing about 127,467 and the industry rakes in a whooping sum of $13bn annually.

In 2014 alone, the federal government of the United States of America spent a total sum of $11,270,048 on Interior Designers. During the period in review, they awarded 437 interior design contracts to 77 interior design companies, averaging a value of $146,364 per company.

The industry is indeed highly competitive and of course a growing industry with steady growth rate of 3.0 percent annually. The interior design industry is very open to any aspiring entrepreneur who has the required skills to start his or her own home decoration business.

As a matter of fact, it was projected that over the next five years, new technology will continue to emerge that will make it easier for more players to come into the industry hence increasing the competition.

The interior design industry will continue to blossom because more and more households and corporate organizations are beginning to realize that somehow, they would need the services of home decorators to help give their facility the needed look befitting of their organization or personalities.

From all available statistics, it is safer to say that the industry is growing steadily despite the competitive nature of the industry.

Lastly, some of the factors that encourage entrepreneurs to start their own home decoration company could be that the business is easy to set up and the startup capital is indeed affordable; you can actually start your own home decoration business from the comfort of your house.

All you need to do is to create an office somewhere in your house. People usually pay you for the result you can deliver as it relates to helping them design their facility to their expectation.

2. Executive Summary

James & Janell® Home Deco, Inc. is a U.S based home decoration (interior design) company. We have been able to secure a standard office facility in a busy business district in Las Vegas – Nevada. We are a world class home decoration company that is set to compete in the highly competitive interior design industry not only in the United States market, but also in the global market.

James & Janell® Home Deco, Inc. will be involved in the all aspects of home decoration cum interior design services such as Residential interior design, Commercial (Hotels and Lodges) interior design, Merchandise sales, home decorating consulting services and other related services.

Our business goal is to become one of the leading home decoration companies in the United States and we will make sure that every home decoration job that we do can favorably compete with the best in the industry. Our workers are going to be selected from a pool of talented and highly creative home designers in and around Las Vegas – Nevada and also from any part of the world especially from Milan and Paris as the business grows.

We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading home decorators in the United States and throughout the globe.

At James & Janell® Home Deco, Inc. our client’s best interest come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

James & Janell® Home Deco, Inc. is founded by two siblings James Creflo and his twin sister Janell Creflo. They both graduated from The Interior Design School of London and they have over the years garnered the required experience that will position them to become a major force to reckon with in the industry in the United States of America and across the globe.

3. Our Products and Services

James & Janell® Home Deco, Inc. was established with the aim of maximizing profits in the interior design industry. We want to compete favorably with leading home decoration and interior design companies in the United States which is why we have put in place a competent quality assurance team that will ensure that all our designs and related services rendered meet and even surpass our customers’ expectations.

Our products and services are listed below;

  • Residential home decoration cum interior design services
  • Commercial (hotels, motels, and lodges) interior design services
  • Merchandise sales
  • Home decorating consulting services
  • Other related services like giving interior makeover to historic buildings, vehicles, such as ships and aircraft et al.

4. Our Mission and Vision Statement

  • Our vision is to establish a standard home decoration company whose services and brand will not only be accepted in Las Vegas – Nevada but also throughout the United States of America and other parts of the world.
  • Our mission is to build a home decoration company that will be known to execute top notch projects and to become the number one choice of real estate agencies and other stake holder in the industry. We want to build a home decoration company that can favorably compete with other leading brands in the industry.

Our Business Structure

James & Janell® Home Deco, Inc. is a home decoration company that intends starting small in Las Vegas, but hopes to grow big in order to compete favorably with leading companies in the industry both in the United States and on a global stage.

At James & Janell® Home Deco, Inc., we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders.

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 five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer
  • Creative Director

Human Resources and Admin Manager

  • Sales and Marketing Executive
  • Home Decorators / Interior Designer

Client Service Executive

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 result
  • Responsible for providing direction for the business
  • Creating, communicating, and implementing 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

Creative Director:

  • Serves as project manager for the organization; works directly with employees
  • Responsible for designing concepts for home makeover and facility uplifts
  • Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
  • Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
  • Maintains quality service by establishing and enforcing organization standards.
  • Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications / journals; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
  • Ensures that the organization works in line with international best practices.
  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Defining job positions for recruitment and managing interviewing process
  • Carrying out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversee the smooth running of the daily office and factory activities.

Sales and Marketing Manager

  • Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Model demographic information and analyze the volumes of transactional data generated by customer
  • Identifies development opportunities; follows up on development leads and contacts
  • Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Create new markets cum businesses for the organization
  • Empower and motivates the sales team to meet and surpass agreed targets

Accountant/Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for James & Janell® Home Deco, Inc.
  • Serves as internal auditor for James & Janell® Home Deco, Inc.

Home Decorators/Interior Designers (4)

  • Liaising with clients to determine their requirement and budget
  • Responsible for inspecting and surveying buildings
  • Responsible for negotiating fees and setting schedules for the project
  • Responsible for researching and drawing up rough plans
  • Responsible for developing detailed designs and choosing materials
  • Responsible for supervising the work as it is carried out.
  • Responsible for preparing drafts or material based on an agreement brief.
  • Research and advice the organization on style, genre and other trendy info as it relates to home decoration/interior design.
  • Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, SMS or phone) provides the client with personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the HR 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 potential clients when they make enquiries

6. SWOT Analysis

James & Janell® Home Deco, Inc. hired the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured home decoration business that can favorably compete in the highly competitive interior design industry in the United States and the world at large.

Here is a summary of the SWOT analysis that was conducted on behalf of James & Janell® Home Deco, Inc.;

Our central strength is no doubt the power of our team; our workforce. We have a team of creative and highly proficient home decorators cum interior designers, a team with excellent qualifications and experience in various niche areas in the interior design industry.

Aside from the synergy that exists in our carefully selected home decorators, we have a robust relationship with key stake holders in the real estate industry and of course our designs and services will be guided by international best practices.

As a new home decoration company in Las Vegas – Nevada, it might take some time for our organization to break into the market and gain acceptance especially from the government and other top profile clients in the already saturated and highly competitive interior design industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to promote our business the way we would want to.

  • Opportunities:

The opportunities in the interior design industry is massive considering the number of individuals and corporate organizations acquiring new properties and would need the services of home decorators to give the facilities facelift. As a world class home decoration company, we are ready to take advantage of any opportunity that is available in the industry.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power hence lesser houses would be purchased. Another threat that may likely confront us is the arrival of a new home decoration company in same location where our target market exists and who may want to adopt same Business model like us.

7. MARKET ANALYSIS

  • Market Trends

Although there are top flight institutions where people go to study interior designing, but it common to find people who don’t have formal training running their own home decoration business. This is what accounts for the high number of sole proprietorship in the interior design industry.

Aside from on-the-job training, most home decoration cum interior design companies usually offer short training (could be in – house) in specific areas such as presentation skills and IT packages.

As a home decorator, you are expected to keep tabs with new trends that are always coming up in the industry. Most interior designers ensure that they follow the traditions or patterns that are synonymous to a region. For instance, as a home decorator in the Arab world, your designs are expected to follow the traditions and pattern in the region.

8. Our Target Market

There is a wide range of both corporate and individual clients who cannot successfully move into their new homes/facilities without hiring the services of home decorators. As a matter of fact, without the services of home decorators or interior designers, the interiors of facilities won’t be as beautiful and welcoming as we can see these days.

We will ensure that we develop strategic pacts with property developers, property management companies, local builders, realtors and home improvement firms. This will give us several options to generate revenue for our company.

In view of that, we have created strategies that will enable us reach out to various corporate organizations and individuals who we know can’t do without our services. We have conducted our market research and survey and we will ensure that all our home decoration services is well accepted in the marketplace. Below is a list of the people and organizations that we will market our services to;

  • Construction Companies
  • Property Development Companies
  • Home Owners
  • Corporate Organizations
  • Realtors —for their clients’ homes
  • Home Improvement Companies
  • Commercial builders of office and home complexes
  • Home builders’ associations
  • Furniture stores
  • Paint and wall paper stores
  • Flower shops
  • Real Estate Owners, Developers, and Contractors
  • The Government (Public Sector)
  • Religious Organizations (Church hall and other places of worship)

Our competitive advantage

The competition in the interior design industry is getting stiffer by the day, you have to be highly creative and come up with appealing designs and concepts in order to survive in the industry. The industry is indeed profitable and at the same time a highly competitive industry; it enjoys strong demand as people continue to purchase or move into new apartments and remodel old ones.

Clients will only hire your services if they know that they can get nothing but the best from you. We are quite aware that to be highly competitive in the interior design industry means that you are not only expected to deliver consistent and highly creative designs, but you must be able to meet set targets.

Our competitive advantage lies in the power of our team; our workforce. We have a team of creative and highly proficient interior designers, a team with excellent qualifications and experience in various niche areas in the interior design industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

We are not ignorant of the fact that there are stiff competitions in the interior design industry; there are loads of home decorators and interior designers jostling for contracts which is why we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the real estate market and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of James & Janell® Home Deco, Inc.

Our goal is to grow James & Janell® Home Deco, Inc. to become one of the leading home decoration companies in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Las Vegas – Nevada but also in other cities in the United States of America.

James & Janell® Home Deco, Inc. is set to make use of the following marketing and sales strategies to attract clients and win home decoration and interior decoration contracts;

  • Introduce our home decoration company by sending introductory letters alongside our brochure to corporate organizations, realtors, religious organizations and key stake holders in the real estate industry.
  • Promptness in bidding for home decoration or interior design contracts from the government and other cooperate organizations
  • Advertise our business in relevant business magazines, newspapers, TV and radio stations
  • List our business on yellow page ads (local directories)
  • Attend relevant international and local expos, seminars, and business fairs et al
  • Create different packages for different category of clients in order to work with their budgets and still deliver excellent design and services
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients

Sources of Income

James & Janell® Home Deco, Inc. is established with the aim of maximizing profits in the interior design cum real estate industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of our clients.

James & Janell® Home Deco, Inc. will generate income by offering the following home decoration services and other related services;

  • Home decorating services consulting services

10. Sales Forecast

One thing is certain, there would always be households and corporate organization who would need the services of home decorators or interior designers whenever they purchase new home, office facilities or are moving into a new facility .

We are well positioned to take on the available market in interior design/real estate industry and we are quite optimistic that we will meet our set target of generating enough income/profits from our first six months of operation and grow our home decoration company to enviable heights.

We have been able to examine the home decoration market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below is the sales projection for James & Janell® Home Deco, Inc., it is based on the location of our business and of course the wide range of our services and target market;

  • First Fiscal Year (FY1):  $150,000
  • Second Fiscal Year (FY2):  $400,000
  • Third Fiscal Year (FY3):  $750,000

N.B : This projection was 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 offering same home decoration 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.

11. Publicity and Advertising Strategy

We have been able to work with brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the hearts of our target market.

We are set to become the number one choice for both corporate and individual clients in the whole of the Las Vegas and beyond which is why we have made provisions for effective publicity and advertisement of our Home decoration company. Below are the platforms we intend to leverage on to promote and advertise James & Janell® Home Deco, Inc.;

  • Place adverts on both print (newspapers and magazines) and electronic media platforms
  • Sponsor relevant community-based events/programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, LinkedIn, Pinterest, and Google + et al to promote our services
  • Install our billboards in strategic locations all around Las Vegas – Nevada
  • Distribute our fliers and handbills in target areas
  • Contact corporate organizations and residents in our target areas by calling them up and informing them of James & Janell® Home Deco, Inc. and the services we offer
  • List our home decoration company in local directories / yellow pages
  • Advertise our home decoration company in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are branded with our company logo.

12. Our Pricing Strategy

If you are conversant with the interior design industry, you will realize that the pricing structure ranges from per hour billings to fixed fee to even per square foot billing. Most interior decoration companies adopt all the available pricing systems as it applies to the nature of the job or project they are expected to execute.

At James & Janell® Home Deco, Inc. we will adopt all the pricing systems as is obtainable in the industry but we will ensure that we keep the prices of our services a little below the average market rate by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services.

In addition, we will offer special discounted rates to all our customers at regular intervals. We are aware that there are some one-off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.

  • Payment Options

The payment policy adopted by James & Janell® Home Deco, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. Here are the payment options that James & Janell® Home Deco, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

Starting a home decoration company is cost effective because on the average, you are not expected to acquire expensive machines and equipment.

What you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furnish and equip the office, the amount needed to pay bills, purchase relevant software apps, promote the business and obtain the appropriate business license and certifications. Basically, these are the areas we are looking towards spending our startup capital on;

  • Business incorporating fees in the United States of America will cost – $750.
  • The budget for liability insurance, permits and license will cost – $3,500
  • Acquiring an office space that will accommodate our employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $150,000.
  • Equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
  • The amount required to purchase the needed software applications – $ 3,500
  • The amount of required for launching an official website will cost – $500
  • The amount needed to pay bills and staff members for at least 2 to 3 months – $70,000
  • Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000

Going by the report from the market research and feasibility studies conducted, we will need about two hundred thousand (200,000) U.S. dollars to successfully setup a medium scale but standard home decoration company in the United States of America.

Generating Startup Capital for James & Janell® Home Deco, Inc.

James & Janell® Home Deco, Inc. will be owned by two siblings James Creflo and his twin sister Janell Creflo. They decided to restrict the sourcing of the startup capital for the business to just three major sources.

  • Generate part of the startup capital from personal savings and sale of stocks
  • Generate part of the startup capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $100,000 (Personal savings $85,000 and soft loan from family members $15,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals/customers patronizing their products and services.

We know that if we continue to come up with highly creative and unique home decoration cum interior design concept and excellent job delivery for both corporate organizations, government agencies and households, there will be a steady flow of income for the organization.

Our key sustainability and expansion strategy are to ensure that we only hire creative, competent and selfless interior designers, create a conducive working environment and employee benefits for our staff members. In the nearest future, we will give our most dedicated and prolific employees the opportunity to be part owners of the business via owing shares in the company.

We know that if we implement our business strategies, we will achieve our business goals and objectives in record time.

Check List/Milestone

  • Business Name Availability Check : Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Securing a standard office facility plus renovation of the facility: Competed
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the startup capital from the founders: Completed
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of Logo for the business: Completed
  • Secure trademark for our products: In Progress
  • Printing of Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
  • Creating Official Website for the business: In Progress
  • Creating Awareness for the business: In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in the real estate industry: In Progress

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Home Decor Business Plan Template & Guidebook

Are you ready to open a home decor business but don’t know where to start? With the #1 Home Decor Business Plan Template & Guidebook, you can easily create a business plan that will get you the results you are looking for. This template and guidebook provides a step-by-step approach to understanding and developing the research, objectives, and strategies necessary for success. With this amazing guide, your home decor business will be profitable from day one. Get ready to take your business to the next level with the help of this incredible resource.

Nick

Get worry-free services and support to launch your business starting at $0 plus state fees.

  • How to Start a Profitable Home Decor Business [11 Steps]
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How to Write a Home Decor Business Plan in 7 Steps:

1. describe the purpose of your home decor business..

The first step to writing your business plan is to describe the purpose of your home decor business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a home decor business:

Our mission at [Home Decor business name] is to provide our customers with high quality, stylish home décor and furniture at an affordable price. We strive to create an atmosphere of comfort and relaxation that is unique to each individual customer. We aim to inspire our customers with innovative and creative designs, as well as develop meaningful relationships between them and us.

Image of Zenbusiness business formation

2. Products & Services Offered by Your Home Decor Business.

The next step is to outline your products and services for your home decor business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

  • What is my business?
  • What are the products and/or services that I offer?
  • Why am I offering these particular products and/or services?
  • How do I differentiate myself from competitors with similar offerings?
  • How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

Image of Zenbusiness business formation

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your home decor business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your home decor business includes the following elements:

Target market

  • Who is your target market?
  • What do these customers have in common?
  • How many of them are there?
  • How can you best reach them with your message or product?

Customer base 

  • Who are your current customers? 
  • Where did they come from (i.e., referrals)?
  • How can their experience with your home decor business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

  • How does it work, what features does it have, and what are its benefits?
  • Can anyone use this product or service regardless of age or gender?
  • Can anyone visually see themselves using this product or service?
  • How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

  • Which companies are competing with yours today (and why)? 
  • Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
  • What specific advantages does each competitor offer over yours currently?

Marketing channels

  • Which marketing channel do you intend to leverage to attract new customers?
  • What is your estimated marketing budget needed?
  • What is the projected cost to acquire a new customer?
  • How many of your customers do you instead will return?

Form an LLC in your state!

home decor business plan pdf

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

  • The equipment and facilities needed
  • Who will be involved in the business (employees, contractors)
  • Financial requirements for each step
  • Milestones & KPIs
  • Location of your business
  • Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a home decor business?

  • Business Licenses and/or Permits
  • Computer and Printer for Creating Invoices and Other Business Documents
  • Design Software for Custom Home Decor Projects
  • Inventory of Home Decor Products
  • Phone and/or Computer for Client Consultations

5. Management & Organization of Your Home Decor Business.

The second part of your home decor business plan is to develop a management and organization section.

This section will cover all of the following:

  • How many employees you need in order to run your home decor business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
  • The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
  • How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Home Decor Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a home decor business varies based on many different variables, but below are a few different types of startup costs for a home decor business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your home decor business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your home decor business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your home decor business plan:

  • Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
  • Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
  • Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
  • Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
  • Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
  • Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

home decor business plan pdf

Frequently Asked Questions About Home Decor Business Plans:

Why do you need a business plan for a home decor business.

A business plan for a home decor business is essential because it outlines the goals and objectives of your business, identifies the resources needed to achieve success, and serves as a roadmap for future expansion and growth. Additionally, a business plan can help you secure start-up capital, attract potential investors, and build customer relationships.

Who should you ask for help with your home decor business plan?

It is generally recommended to consult a professional business consultant, accountant, or lawyer when creating a business plan. They will be able to provide helpful advice and resources to ensure your home decor business plan is solid and successful.

Can you write a home decor business plan yourself?

Yes, it is possible to write a business plan for a home decor business yourself. A business plan is a document that outlines the operational and financial objectives of a business and provides details on how the goals of the business will be achieved. The main elements of a home decor business plan include an executive summary, market analysis, competitive analysis, product or service offering, operations plan, management structure and financial projections. Depending on the size and scope of your business it may also be necessary to include additional sections such as marketing plans and customer service plans.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

How To Start A Home Decor Business

How To Start A Home Decor Business

When it comes to starting a home decor business, you may find yourself in a place where you have to make some big decisions.

You may be asking yourself:

  • What's the first step in establishing my business?
  • How much will it cost to start my home decor business?
  • How do I price my home decor business?
  • How do I market my home decor business?
  • ... so much more!

We walk you through all of the steps; from idea → starting → launching → growing → running your business.

The purpose of this guide is to act as an outline for the steps you'll need to take to get your business running successfully!

Start A Home Decor Business ➜ avg revenue (monthly) $8.5K see all home decor businesses ➜ starting costs $34.6K see all costs ➜ gross margin 32% time to build 270 days average product price $45 growth channels SEO business model E-Commerce best tools Instagram, Facebook, Quickbooks time investment Full time pros & cons 21 Pros & Cons see all ➜ tips 9 Tips see all ➜

💡 Introduction To Starting A Home Decor Business

Is starting a home decor business right for you.

There are many factors to consider when starting a home decor business.

We put together the main pros and cons for you here:

Pros of starting a home decor business

• Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

• Rewarding work

Starting a home decor business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

• Quick build time

The average time it takes to build your product is quick - typically around 9 months. This will allow you to bring your product to market faster.

• Amazing perks and discounts

Working in the home decor business comes with its perks! As a seller for these products/services, you typically also get to enjoy industry perks and discounts.

• You are your own boss!

With starting a home decor business, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!

• Location is everything!

When operating a physical storefront, the location often speaks for itself and serves as it's very own marketing tool! It's important to choose a location in a high traffic area so you can spark curiosity and get people through your door!

• You can sell your product in various places!

There are various different markets to sell your product, which will help you reach different audiences and revenue streams.

• Control your own destiny

Starting A Home Decor Business allows you to control every aspect of your life and make your own dreams come true every day.

• You get to do something you truly love

With starting a home decor business, you get to put your energy into something you are truly passionate about! You'll find yourself devoting as much time and energy as possible into the business to make it successful.

• You get to inspire others

Your business is one that encourages and inspires others, which in itself, can be very fulfilling.

• You can promote and sell your product on Amazon

Although there are some disadvantages to consider when selling your product on Amazon, there are also a host of benefits. Mainly, Amazon is the world's largest online retailer, so you're bound to tap into new business and reach an entirely new audience.

• Low maintenance customers

In this industry, customers are known to be very appreciative and low maintenance. This can help with your stress levels and allow you to focus on growing your business.

Cons of starting a home decor business

• Crowded Space

Competition is high when it comes to your home decor business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

• Finding The Right Supplier

Most businesses in this space go the supplier/manufacturer route, which isn't a bad thing! However, finding the right supplier can take a lot of time, energy and trial/error. If done properly, this process can save you months (if not years) of time and energy. More on this below in the "finding a supplier" section.

• Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.

• High overhead expenses

With starting a home decor business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.

• Work can be repetitive

You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting!

• Time commitment

With starting a home decor business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.

• Be prepared to get out of your comfort zone!

Although this is exciting for some entrepreneurs, it can be a big challenge for others! You may find yourself in uncomfortable social and business situations, jumping into tasks and responsibilities you aren't familiar with, and pushing yourself as far as you can go!

• You might struggle financially (at first)!

If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.

• Work is not always glamorous

With starting a home decor business, you may need to get your hands a little dirty. Although it may seem glamorous from the outside to start this business, the work can require a lot of physical activity and repetition.

Big Players

  • French Italian LLC (25 Alexa Ranking)
  • Crate and Barrel (3.81K Alexa Ranking)
  • AllModern (6.57K Alexa Ranking)
  • Furniture, Home Decor, Rugs, Unique Gifts (8.09K Alexa Ranking)
  • CB2 (8.39K Alexa Ranking)

Small Players

  • Hoagard.com - Revenue $415K/month
  • Valhalla Wood Forge - Revenue $8.5K/month
  • Less is More Organizing Services - Revenue $8K/month
  • TCB Designs, Florida - Revenue $5K/month
  • ALDECOR - Revenue $2K/month
  • Go! Organizer - Revenue $2K/month

Search Interest

Let's take a look at the search trends for home decor over the last year:

How To Name Your Home Decor Business

It's important to find a catchy name for your home decor business so that you can stand out in your space.

Here are some general tips to consider when naming your home decor business

  • Avoid hard to spell names: you want something easy to remember and easy to spell for your customers
  • Conduct a search to see if others in the space have the same name
  • Try not to pick a name that limits growth opportunities for your business (ie. if you decide to expand into other product lines)
  • As soon as you have an idea (or ideas) of a few names that you love, register the domain name(s) as soon as possible!

Why is naming your home decor business so important?

The name of your business will forever play a role in:

  • Your customers first impression
  • Your businesses identity
  • The power behind the type of customer your brand attracts
  • If you're memorable or not

It's important to verify that the domain name is available for your home decor business.

You can search domain availability here:

Find a domain starting at $0.88

powered by Namecheap

Although .com names are the most common and easiest to remember, there are other options if your .com domain name is not available. Depending on your audience, it may not matter as much as you think.

It's also important to thoroughly check if social media handles are available.

As soon as you resonate with a name (or names), secure the domain and SM handles as soon as possible to ensure they don't get taken.

Here's some inspiration for naming your home decor business:

  • Canary Lane check availability
  • Magic House Home Décor check availability
  • What A Room check availability
  • Once & Again check availability
  • Eclectic Home Tastes check availability
  • Divine Interiors check availability
  • More Than Old check availability
  • Décor And More check availability
  • Cottage Crafts check availability
  • Boomerang check availability
  • Artsy Rugs check availability
  • Beaux check availability
  • Elegant Home Decor check availability
  • Apex Home Decor check availability
  • Luxe check availability
  • Alla Moda check availability
  • Reclaimed in Love check availability
  • Florence check availability
  • Getting Personal check availability
  • Share check availability
  • Bright check availability
  • A Bella Casa check availability
  • Bell And Moon check availability
  • Arcadia Public Market check availability
  • The Luxurious Life check availability
  • Adaptive Home Decor check availability
  • Elevation check availability
  • Happy Home Décor check availability
  • Stylish Homewares Products check availability
  • Farmhouse Home Decor check availability
  • Hearty Home Décor check availability
  • Home Sweet Home check availability
  • The Showroom check availability
  • Indigo & Poppy check availability
  • Boulevard check availability
  • Pillows And Patterns check availability
  • Exceptional check availability
  • Make It Yours check availability
  • Magazine Home Décor check availability
  • Dwelling check availability
  • Dedicated Décor check availability
  • Mod Home check availability
  • Wood Groove check availability
  • The Treasure check availability
  • Interior Decoration Sydney check availability
  • Creative Homes check availability
  • Dovetail check availability
  • Pottery Barn check availability
  • Jade & Clover check availability
  • Contemporary Home Decor check availability
  • Hipster Home Décor check availability
  • Bottles & Wood check availability
  • Bianco check availability
  • Revamp Renew check availability
  • Buffalo Collection check availability
  • Sage check availability
  • Redemption check availability
  • Essential check availability
  • Promenade check availability
  • DecoratIn’ check availability
  • Roost check availability
  • Your Own Décor check availability
  • Just Lights & Home Decor check availability
  • Wallpaper To Windows check availability
  • Matters of Space check availability
  • Suncoast check availability
  • First Impression check availability
  • Cove check availability
  • The LifeStyled Co. check availability
  • Home Décor Heroes check availability
  • Breeze check availability
  • Rose Design check availability
  • Bungalow check availability
  • Dependable Décor check availability
  • Vintage Home Accessories check availability
  • Display check availability
  • Asrai Garden check availability
  • Artistic Illusions check availability
  • Asakichi check availability
  • Dressed To Sell check availability
  • Lost & Found check availability
  • Every Inch check availability
  • Feliz check availability
  • Selling Edge check availability
  • Water Lily Home Decor check availability
  • Well Walled check availability
  • Coco Bella check availability
  • Luscious Home Decor check availability
  • Acacia check availability
  • Mediterranean Accents check availability
  • Woody Dots check availability
  • Home Goods check availability
  • Fixed Design check availability
  • It’S Personal check availability
  • Color Essences check availability
  • Make It Yours Décor check availability
  • White Couture check availability
  • Dream Décor check availability
  • Amuse check availability
  • Made On Earth check availability
  • Establish check availability
  • Altered Decor check availability
  • Dazzling Décor check availability
  • Inner Sanctuary Home Decor check availability

Read our full guide on naming your home decor business ➜

How To Create A Slogan For Your Home Decor Business:

Slogans are a critical piece of your marketing and advertising strategy.

The role of your slogan is to help your customer understand the benefits of your product/service - so it's important to find a catchy and effective slogan name.

Often times, your slogan can even be more important than the name of your brand.

Here are 6 tips for creating a catchy slogan for your home decor business:

1. Keep it short, simple and avoid difficult words

A great rule of thumb is that your slogan should be under 10 words. This will make it easy for your customer to understand and remember.

2. Tell what you do and focus on what makes you different

There are a few different ways you can incorporate what makes your business special in your slogan:

  • Explain the target customer you are catering your services towards
  • What problem do you solve?
  • How do you make other people, clients, or your employer look good?
  • Do you make people more successful? How?

3. Be consistent

Chances are, if you're coming up with a slogan, you may already have your business name, logo, mission, branding etc.

It's important to create a slogan that is consistent with all of the above.

4. Ensure the longevity of your slogan

Times are changing quickly, and so are businesses.

When coming up with your slogan, you may want to consider creating something that is timeless and won't just fade with new trends.

5. Consider your audience

When finding a catchy slogan name, you'll want to make sure that this resonates across your entire audience.

It's possible that your slogan could make complete sense to your audience in Europe, but may not resonate with your US audience.

6. Get feedback!

This is one of the easiest ways to know if your slogan will be perceived well, and a step that a lot of brands drop the ball on.

Ask friends, family, strangers, and most importantly, those that are considered to be in your target market.

Here's some inspiration for coming up with a slogan for your home decor business:

  • Innovative solutions to improve your home
  • Make your home significantly better
  • Decorate to impress
  • Premium home decors that work
  • Affordability, style, and quality
  • Home decors that last a lifetime
  • Keeping your home elegant
  • Add up some style to your home
  • Make your home a better place
  • Providing elegance on every home
  • Transform your home for the better
  • Home decors made specifically for your home
  • Take your home to the next level
  • Making your home a better place
  • Design your home right now
  • A beautiful home is a desirable place
  • Decors that last a lifetime
  • Making home extra special
  • Decors that impress
  • The passion to improve homes
  • House makeover, possible
  • Easy way to design your house
  • An incredible way to design your home
  • Pamper your house
  • Premium designs for your home
  • Creative decors, beautiful home
  • Designing homes made easy
  • Putting extra wow factor to homes
  • Decors crafted with passion
  • Decoration solutions for your home
  • Simple yet attractive designs
  • Plug and play decorations
  • Decorations that last a lifetime
  • Durable decorations that you can trust
  • Combination of elegance and affordability
  • Life's Pretty Straight Without Decorations.
  • Straight Home, We Care
  • Architectural Decorations, We're Commiitted
  • Home Reaching For The Stars.
  • Did Somebody Say Artisinal?
  • From Young To Senile
  • Own Home, Satisfaction Guaranteed
  • Artisinal Takes It To The Next Level.
  • Home Will Be For You What You Want It To Be.
  • Start The Day With Artisinal.
  • See You At Decorations.
  • Home's Like Heaven.
  • Military Gifts Are What We Do
  • Range Of The Ribbon
  • Homes With Design
  • Make It A Home Night.
  • Work Hard, Finishing Harder
  • Decorations With Life
  • From Impermanent To Enduring
  • Decorations Just What The Doctor Ordered.
  • Architectural Palm, Military Ornamentation
  • America's Most Trusted Artisinal.
  • Why Can't Everything Orange Be Decorations?
  • Vorsprung Durch Home.
  • Ho Ho Ho, Green Home.
  • Nothing Is Faster Than Decorations.
  • Elaborate Medallion, Foreign Adornments
  • Home, What Else?
  • Let's Artisinal!
  • Homes With End
  • Everyone Wants A Artisinal.
  • Get Busy With The Home.
  • Original And Forgivable

The eCommerce Business Model

One of the main benefits of operating online is that you are exposed to the entire world, versus just one local area. Rather than depending on foot traffic, you have all the tools at your disposal to create exposure for your store online.

Additionally, there are much lower costs to operate an online store - fewer employees, you can operate from your home, and you get to create your own schedules (yes, holidays included!)

Although you are operating online and have the ability to connect with people all over the world, it's important to consider that you will need to invest marketing money upfront in order to promote your store to the right audience.

Gia Paddock, founder of Boutique Rye explains the 3 reasons why she decided to build an online store :

I wanted to find something I loved but also allowed me to stay home at the same time. While I was working at this local boutique, I realized that there was a lot of sitting around during the day when other people were out working. Therefore, an online business seemed like the best route for a few reasons:

  • We didn’t have the extra funds sitting around to pay sign a year or two-year lease at a brick & mortar location.
  • I realized the opportunity to reach a wider audience online compared to the audience of this small local boutique. For us, it seemed like hitting two birds with one stone.
  • And finally (maybe the most important of all), running it as an online-only business would allow me to stay at home with Riley!

Learn more about starting a home decor business :

Where to start?

-> How much does it cost to start a home decor business? -> Pros and cons of a home decor business

Need inspiration?

-> Other home decor business success stories -> Examples of established home decor business -> Marketing ideas for a home decor business -> Home decor business slogans -> Home decor business names -> Home decor business Instagram bios

Other resources

-> Home decor business tips -> Blog post ideas for a home decor business

🎬 How To Start A Home Decor Business

article

How Much Does It Cost To Start A Home Decor Business

If you are planning to start a home decor business, the costs are relatively low. This, of course, depends on if you decide to start the business with lean expenses or bringing in a large team and spending more money.

We’ve outlined two common scenarios for “pre-opening” costs of starting a home decor business and outline the costs you should expect for each:

  • The estimated minimum starting cost = $62
  • The estimated maximum starting cost = $69,097

Raising Money For Your Home Decor Business

Here are the most common ways to raise money for your home decor business:

Bootstrapping

You may not need funding for your home decor business.

In fact, many entrepreneurs take this approach when starting their own business, whether they have a little amount of cash or a substantial amount to get started.

So what exactly does the term "bootstrapping" mean?

This method essentially refers to self-funding your business without external help or capital and reinvesting your earnings back into the business**

Bootstrapping means building your company from the ground up with your own, or your loved ones, personal savings and reinvesting all earnings back into the business

Here are some tips to consider when bootstrapping your business :

  • Use your savings as your capital - one of the best ways to bootstrap your business is to collect your savings and use them as startup capital. This will also help you avoid using your personal or business credit cards when getting started.
  • Determine exactly how much capital you need and how much capital you have to get your business off the ground. Generally, when bootstrapping your business, you may want to consider starting a business that involves less startup capital.
  • Consider starting a business that will generate immediate returns so you can put money back into the business
  • Be as lean as possible - this refers to cutting down expenses as much as possible, such as payroll, fancy software tools, unnecessary travel, renting an office, etc
  • Consider outsourcing instead of hiring - in the beginning, you may not need to hire someone permanently to help run your business. It tends to be much less expensive to outsource work to a freelancer and hire someone permanently down the road!

Want to learn more about bootstrapping your business? Check out this article

What Skills Do I Need To Succeed In Starting A Home Decor Business?

As a home decor business, there are several essential skills and characteristics that are important to identify prior to starting your business.

Let’s look at these skills in more detail so you can identify what you need to succeed in your day-to-day business operations:

Crafty Skills

Whether you are on the creative side or the business side of your product, crafty and creative skills are a must for starting a home decor business.

Here are a few skills that are important to have for starting a successful home decor business:

  • Knowledge of materials and their skillful use: It's critical that you are knowledgable about art supplies and able to get the most out of everything.
  • An open mind : The best home decor business's are the ones that have a unique perspective and an open mind on life and home decor.
  • Patience : Some of your work may take weeks, months or even years! This combined with starting a business will involve a lot of patience and trust in the process.
  • Energy & Focus : Starting a home decor business means you will need to have a great deal of both physical and mental energy to think creatively, reflect, and focus.

Customer Service Skills

Friendly communication with customers and the ability to address service issues is a critical part of the job.

Here are some customer service skills you may want to consider prior to starting a home decor business:

  • Professionalism: The way you act, present yourself, and respond to situations all leave an impression on your customer. It's important to stay professional at all times when handling customer requests or issues.
  • Problem-solving: When issues arise, it's important that you are able to think quick on your feet and address the situation with a calm and clear solution
  • Friendly-manner: This is an obvious one, but customers truly appreciate someone that can respond in a quick, efficient, and friendly manner.
  • Proficient in writing: These skills include the ability to write well-crafted emails, service tickets, and any other programs used by the business (ie. chat functions, SMS texting)

Business Savvy Skills

When starting a home decor business, there are a few fundamental business skills you will want to learn in order to be successful:

  • Leadership and training skills: A great team starts with YOU. Make sure you have all company policies and training procedures in place prior to hiring your team
  • Decisive and self-confident: Over the course of your career, you will need decisions that could impact your business significantly. It's important you are able to think clearly and rationally about these decisions.
  • Ability to understand the financials : You don't need to be an accountant, but it is important that you are able to clearly understand and define metrics such as expenses, revenue, profit, margins, COGS, etc.
  • Strategic Thinking : Setting clear goals and benchmarks, identifying opportunities, risks. Ability to effectively communicate these insights to your team.

These are a few of many business savvy skills you should have (or work on) when starting a home decor business.

For a full list, check out this article here .

Design Skills

Whether you are the one designing the product or the decision-maker for the product, an eye for design is critical when starting a home decor business. Here's what this looks like:

  • Creative Thinking - the ability to develop or design different products or ideas
  • Visualization - being able to imagine or visualize how the product will look
  • Articulation - the ability to communicate what the design will look like and how it will be executed
  • Detail-oriented - paying close attention to all of the small pieces when designing or working on a project
  • Some technical skills - knowledge of the design software you are using to create the product or build prototypes.

Other skills that may be valuable to have when starting a home decor business include digital marketing skills, branding experience, and basic business knowledge.

Advice For Starting A Home Decor Business

We've interviewed thousands of successful founders at Starter Story and asked what advice they would give to entrepreneurs who are just getting started.

Here's the best advice we discovered for starting a home decor business:

Sarah Giller Nelson, founder of Less is More Organizing Services ($8K/month):

Seize the day! You never know what is coming down the pike so if you have a dream just go for it.

Read the full interview ➜

Maurici Badia, founder of HANNUN ($/month):

I love learning by making mistakes, it means you’ve tried it. When you are creating a new brand, using new technology, new features in social media platform, there is nothing written, you need to try many things and some of them will work, some not.

James Wolfer, founder of Valhalla Wood Forge ($8.5K/month):

Do your homework if you’re going to use outside marketing agencies, and don’t take shortcuts.

Suzan Allen, founder of French Italian LLC ($/month):

Always remember, your plan might change from time to time but the end game will always remain the same.
Don’t be afraid to bring on the right people.

Tiffany Griffin, founder of Beautiful Dawn Designs ($/month):

Don't use failure as a reason to give up. It's okay to fail. Just make sure you learn from your failures and mistakes and keep working towards your goals.

Write a Business Plan

Writing a business plan from the start is critical for the success of your home decor business.

Because this allows you to roadmap exactly what you do, what your overall structure will look like, and where you want to be in the future.

For many entrepreneurs, writing out the business plan helps validate their idea and decide whether or not they should move forward with starting the business.

You may want to consider expanding upon these sections in your business plan:

  • Executive Summary : Brief outline of your product, the market, and growth opportunities
  • Overviews and Objectives : Overview of your business, target customers, and what you need to run your business
  • Products and Services : Specifics on the products and services your business will provide
  • Market Opportunities : Analysis of customer demographics, buyer habits and if your product is in demand
  • Marketing : Outline of your marketing plan and how you plan to differentiate yourself from other customers
  • Competitive analysis : Analysis of your competition and the strengths and weaknesses therein
  • Operations : Hierarchal structure of the company and what it will take to run the business on the day-to-day
  • Leadership Team : Detailing roles and responsibilities of each manager based on their specific skill-set
  • Financial Analysis Understanding of all expenses, operating budgets, and projections for the future.

Learn more about how to write a business plan here

Determine Which Business Bank Account You Need

There are hundreds of banks out there, and it can be overwhelming to find one that's right for your business.

Here are some factors you may want to consider:

  • Location - Is your bank close enough that you can easily make deposits or get cash?
  • Low Fees - Make sure to understand any and all fees associated with setting up and maintaining your bank account. Ask for a list - banks usually try to keep this hidden and in the fine print.
  • Online Banking Services - Make sure you can easily navigate through your online portal and you have easy access to everything you need.
  • Line of Credit - What do your options look like (even if you don't need this now, you may need this down the road).
  • Every bank has something that differentiates them from the rest, so make sure whatever that is applied to your needs and values.

Check out this list of the 13 Best Banks for Small Business in 2020 and what makes them so unique.

Setting Up Your Home Decor Business (Formation and Legal)

When it comes to setting up your business, you may find yourself in a place where you have to make some financial and legal decisions.

The first thing you'll want to decide on is whether you want to be an LLC, S-Corp, or C-Corp.

These three options are found to be the most common when starting a small business, and all serve to protect your personal assets and also provide you with certain tax benefits.

  • LLC : All income and expenses from the business are reported on the LLC personal income tax return.
  • S corp : Owners pay themselves salaries + receive dividends from profits.
  • C Corp : C Corps are separately taxable entities that file a corporate tax return (Form 1120). No income tax is paid at the corporate level and any tax due is paid at the owners individual expense.

Depending on where you're conducting business, you'll also want to consider securing the proper permits, licenses and liability insurance.

Learn more about securing the right permits and licenses ➜

Need to start an LLC? Create an LLC in minutes with ZenBusiness .

How Do I Pay Myself As A Small Business Owner?

Most entrepreneurs start a business to do something they love- but at the end of the day, you still have bills to pay (maybe now more than ever).

But it's important to strike the right balance - if you pay yourself too much, you could be putting your business at risk.

There are two common ways to pay yourself as a business owner:

1. Owner's Draw

Many entrepreneurs pay themselves through an owner's draw. This means that you are technically sean as "self-employed" through the eyes of the IRS and are not paid through regular wages.

At the point that you collect money from the draw, taxes typically are not taken out - so make sure you are prepared to pay these taxes once you file your individual return.

As an owner who takes a draw, you can legally take out as much as you want from your equity.

This type of compensation is suited for Sole props, LLCs, and partnerships. If you’re an S corp, you can pay yourself through both a salary and draw if you choose.

If you decide to pay yourself a salary, you will receive a set and recurring amount. This will be taxed by the federal government and the state you reside in.

The reality is that it can be really complicated to set your own salary, so we have some tips for you to consider:

  • Take out a reasonable amount that allows you to live comfortably but also sets your business up for success
  • Consider the number of hours you are working weekly + the type of duties you are performing.
  • Set your salary based on your industry-standard, location, and profits (or projected profits)
  • Look at your P&L statement : Deduct your own pay from that amount. This is important so you can first tackle important business expenses, and then pay yourself from the amount leftover.
  • Pick a payroll schedule (and stick to it)! In the US, it's most common to pay yourself and employees twice a month.

To learn more about how to pay yourself and what is a reasonable amount, check out this article .

How To Price Your Home Decor

One of the most challenging aspects to starting a home decor business is determining how much to charge for your home decor.

When businesses under-price their product, this can be extremely detrimental to their bottom line and reputation.

Often times, businesses under-price their products to drive demand and volume, but that last thing you want is for customers to view your product/service as "cheap." Additionally, this can have a big impact on the type of customer you attract, which can be difficult to recover from.

On the other hand, when businesses over-price , this tends to be just as damaging to the business.

When customers buy, it's likely that they will explore the internet and look at other competitors to ensure they're getting the best value + deal. This is why it's so important that you research your competition and understand where you land in the marketplace.

Here are some factors to consider when pricing your product:

Understand your customer

It's important that out of the gates, you identify the type of customer you want to attract and how much they're willing to pay for your service. One great way to do this is by surveying your customers. Here are some important items you'll want to takeaway:

  • Customer demographic: Age, gender, location, etc.
  • Buying habits of your customer: What they buy + when they buy
  • Level of price sensitivity with your customer

All of these segments will help you identify the type of customer you're attracting and how to price your product accordingly.

Understand your costs

When pricing your home decor, it's critical that you first identify all of your costs and consequently mark up your home decor so you can factor in a profit.

The actual cost of your home decor may include things like:

  • The actual cost to make the product (ie. raw materials, supplies, manufacturer).
  • Shipping + overhead fees
  • Operating costs to run your business

You may want to consider creating a spreadsheet with every single expense involved in operating/owning your business. This will give you an idea as to what you need to generate in order to at the very least, break-even and will help you price your products to factor in a profit.

Create revenue goals

When determining the price of your home decor, you'll want to create goals for revenue + how much profit you want your home decor business to make.

This process is simpler than you may think:

  • Think about your breakeven cost (by completing the above step).
  • Create a revenue goal based on your break-even cost
  • Evaluate the # of items you plan to sell in a given period (make sure this is a realistic number)
  • Divide your revenue goal by the number of items you plan to sell

This figure will help determine your estimated price per product in order to meet your revenue goals.

Evaluate your competition

The last piece in determining how to price your home decor is by simply looking at your competition.

The best way to do this is by finding like-minded businesses that offer product(s) with similar perceived value. Then, you can compare prices of the different businesses and determine where your home decor fits best in the marketplace.

All of these factors play an equal part in pricing your home decor, so it's important you evaluate each one individually to come up with an accurate price that will help optimize your business from the start.

Understanding Your Costs

Example from Ishan, founder of Ugly Duckling

First objective: profitability

Our profitability is OK at this point but definitely not where it should be yet. To this day I have not paid myself a regular salary yet...and it’s been 4 years!

The problem is not the cost of goods which are well under 20% of sales, which is good by any standard. The problem is fulfillment costs. In 2018 we transitioned from our first fulfillment company to a much bigger company. We did this because we wanted to provide faster shipment speeds and a better quality of packaging. In hindsight, we chose a company which would have been more suitable for a larger company with bigger volumes. We ended up being tied in with some pretty large minimum monthly payments. So currently fulfillment costs are currently around 45% of sales...way too high.

We are now looking to transit to another fulfillment center. Our target is to get our fulfillment costs down to around 30% of sales which I believe from what I have researched, is possible.

Just to be clear, when I say fulfillment that includes transportation costs also - FedEx, USPS, etc. Not just storage, picking, and packing. I am pretty sure that it is possible to get fulfillment costs down even lower, and I suspect that some large pro sellers on amazon.com work with around 20-25% of sales.

So our target P+L for 2020 looks something like this:

  • Cost of goods, including inbound freight and clearance - around 22% of sales.
  • Fulfillment - around 30% of sales.
  • Digital Advertising & Promotion - around 15% of sales.
  • Other marketing and office costs, including salary costs - around 10% of sales.
  • That would leave us around 23% of sales - enough to pay me a liveable salary and for the company to make a profit and finance future growth.
That's the first objective for 2020: to right-size the P+L so that we are profitable at our current sales level

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Gross Margin Calculator: How to Calculate The Gross Margin For Your Home Decor

Our calculator is designed to be simple and easy to use.

The goal is to help you set realistic expectations and understand what is considered a healthy gross margin for your home decor business.

Calculate your gross margin and profit margin here .

What Type Of Customers Will Buy Your Home Decor

It's important to first establish who you will be selling to, whether it's to businesses or consumers.

Typically, in this industry, products are sold to B2C markets (business-to-consumer).

Let's take a look at what this means for your home decor business:

B2C (or business to consumer) is a transaction where businesses sell their products or services to the consumer directly.

In this market, consumer behavior is the primary driver for your business decisions - so it's important that you truly identify who your customer is, and what their buyer habits are when building your product/service.

The advantage

B2C is that you are able to cast a very wide net when targeting your customers. Your product may interest a large number of consumers or a specific niche.

The disadvantage

B2C is that consumers hold all the power - so if your website is not the most user friendly, or does not rank in the top search results on Google, chances are, your customer is going to shop elsewhere.

When building your home decor business, it's critical that you hone in on who your target audience is, and why they need your product over your competition.

Here are some items to consider when identifying your buyer persona:

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Design A Prototype

Turning your idea into a reality can feel like a daunting task - but it's critical that you have an idea of what your product will look like (even if it's just a sketch) prior to finding a manufacturer.

Here are some common ways you can design your prototype:

  • Draw Your Initial Design on Paper
  • Form pieces of fabric together
  • Consider Taking A Generic Product And Putting Your Own Brand On It
  • Try Making the Product Yourself
  • Consider Building A Prototype With A 3D Printer

To learn more about how to design and prototype a product, check out our latest guide here .

Çağrı Ayten, founder of Hoagard.com dives deep into the process of designing and prototyping their product:

The idea of metal wall decor began to emerge and this led the design ideas began to emerge, simultaneously. We started to make designs inspired by the steampunk era. Later, Scandinavian patterns were also used, considering that we should make also some modern designs.

Although the designs were tried to be made by the production process, it was a difficult period for us to take samples and revise them. Because they were very few and it was a new category, it made the production phase difficult. But as a result of intense efforts, the first samples were taken and they were highly appreciated.

It is very important to consider branding as a whole. From design and R&D departments to the shipping company we work with, good steps should be taken to bring the brand to a better place.

The most important point we pay attention to when choosing a supplier is the trust factor. We take cognizance of choosing solution-oriented suppliers who can support us during the operation process. Another point is continuity, we try to go for more innovative suppliers whose quality does not impair over time. The most important thing regarding this issue is that alternative suppliers are also in your system. We need to take quick action in any crisis period.

It wasn't easy to get the first sample, it was not easy to put small quantity products as an unknown brand on the production line of high-volume companies. But in the city we live in, it was not impossible to do this. After searching for several manufacturers, we were able to get the first sample. Once the samples were out and approved, we had to move on to the packaging process. Because one of the most important stages of the e-commerce system is the proper packaging of the product. For this reason, we are still making R&D works on this subject even today. At that time, our priority was to choose a packaging method that is most easily reachable and that we can protect the product in the best way.

After the online ads were placed, we started to take our first bulk orders and in a short while, we have seen that many companies started to contact us. But since we are a company that attaches great importance to branding, we had to choose our partners very carefully. We needed vendors to represent us correctly, and we had to make sure that we could meet the demands of the other party since there was no established production line. It took us a long time to find the right manufacturer. Since it was a design-oriented collection, it had to be preserved very well. Therefore, the production line took place at the end of a process that was followed until 2018.

We advertise on many social media channels such as Google, Facebook, Instagram, Pinterest, and Youtube and change the strategies periodically. E-commerce is an area where many ups and downs can be experienced during the year. Therefore, both budget adjustment and advertising strategies should include periodical differences. Accordingly, we can follow interaction-oriented strategies in some periods and sales-oriented strategies in other periods.

We were supporting the brand with the income we got from our works. Since we did not have any capital, this was a very tiring process for us. Especially in processes where production had to be concentrated, we were taking extra debt and taking risks to move forward. We took out patents and copyrighted our designs to protect our brand in the process of time. Of course, we couldn't handle these costs at once. At the same time, we used some promotions during these times. To be honest, this has been a costly and challenging process for us. It can turn into a much more challenging process, especially if your purpose is to be a global brand. Therefore, during this process, we tried to benefit from government promotions. But following the legal processes afterward was more difficult than obtaining a patent. Since the legal system of each country works differently, we have had times that are at least as challenging as obtaining a patent.

https://www.youtube.com/watch?v=7f7m7Id7LC8

How To Find A Supplier For Your Home Decor Business

Here are the steps to consider when finding a supplier/manufacturer:

Know your design

One very critical step to finding the right supplier is having an initial idea of what your design/product will look like.

Sketching is one of the most simple ways to get started in the design phase.

What's great about sketching is that you can practically do this anytime, anywhere - even on the back of a napkin.

To get started, all you need to do is pick up a pen and paper and start drawing - or if you are working on a virtual/software product this can be a diagram that outlines the user interface or experience.

Decide your supplier type

You'll want to identify the type of supplier you are looking for.

Here are some questions you may want to ask yourself prior to searching for a supplier

  • Are you looking for a manufacturer to produce your product idea ?
  • Do you want to find a supplier that can simply purchase existing products for you ?
  • Do you want a drop-shipper to supply and fulfill orders?
  • Do you want a domestic supplier or an overseas supplier? Read more about the pros and cons of each here

Where to start your search

Once you have an understanding of what type of manufacturer/supplier will be best to bring your idea to life, there are several areas you can start your search:

Domestic Suppliers

Overseas Suppliers

Manufacturing Your Product In House

It's also very common to manufacture your home decor on your own - either from your home or in a commercial space.

In order to get the product right, you may want to consider experimenting with different designs and recipes until you find the perfect one.

Some founders choose to manufacture their product in-house so that they can control quality, manage costs, and easily handle production/logistics.

Down the road, you can always choose to outsource your home decor.

Leslie Eisen, founder of AlmondClear discusses how to manufacture products in house

If you want to start a line of unique products, then you have two basic options: you can make them yourself, or you can find a manufacturer to work with that creates custom formulations for their clients.

I knew that I was trying to build a larger-scale business and that the home-made model wasn’t right for me, so I had to find the right manufacturing partner. It took a lot of research, phone calls, and emails before I found the laboratory that met my needs.

I wanted to create unique products (as opposed to private label), so I worked with the manufacturer’s chemist who specializes in skin care formulations. This process takes some time!

First, you have to tell the chemist what kind of product you’re looking for , the ingredients that you want to include or leave out, and what you want the final product to look like/feel like/smell like, etc.

Then, the manufacturer sends you the first sample , you try it out or give it to others to try, and then provide feedback for revisions. In my case, the first two products came together fairly easily because I only needed to make small changes to stock formulations.

There are many, many rules and regulations around cosmetics and skin care products. If you want to sell products that contain FDA regulated ingredients then you have to register and get a permit.

My products aren’t FDA regulated, so I didn’t have to go through this step, but I did have to be aware of the many guidelines and standards around labeling and safety warnings. Some people hire a lawyer to help them through this process, but my manufacturer was able to guide me through the regulatory process.

The entire process, from researching labs to work with to having the first finished products shipped out to me, took around six months.

Purchasing Inventory For Your Home Decor Business

When first starting out, it's important to start small with your overhead to get a gauge for what people want.

Just remember - if you order a line of items that don't sell, it's nearly impossible to recoup the money lost.

Buying the right inventory takes research and planning in order to get it right.

  • Identify your target audience : Identify the age, gender, annual income that you will be selling to. This is a defining factor in ordering the right inventory that will sell.
  • Research your competition : Conduct market research and identify the different types of styles, price points, and materials being used. This will help you see what's trending and ways that you can improve/stay ahead of the competition.
  • Create an inventory wishlist : Identify what you need for the launch of your business and create a budget that you will stay within. Remember, it's okay to start small.
  • Find a supplier Make sure to first compare prices and analyze different options.
  • Delivery timing : Schedule the inventory delivery to match with seasonality and trending buying seasons

Pro-tip: It's easy to become biased based on your own fashion preferences on what types of shoes/apparel to purchase. This is where a lot of fashion businesses go wrong. It's important to base purchase decisions on current buyer behavior, trends in the market, and specific to your niche.

Erin Hooley, founder of Bailey's Blossoms tells us how poor inventory projections led her to lose over $2M

When we first launched Peyton Bre we did so in a social or direct sales model.

Through poor inventory projections we were forced to change models but only after losing $2 million dollars.

It was a devastating time for us and one we were not sure we could survive.

I have since become very intentional about the way that we project our inventory needs and we continue to refine that quarterly and even monthly. We have created a KPI for the cost of goods sold to help us hold ourselves accountable.

Ultimately, the better we manage our inventory the less we have need to discount and the healthier our profit margin becomes.

This is, of course, a very high-level overview of the importance of inventory control.

To see the full breakdown on how to manage inventory, check out my guide over on my blog. .

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🚀 How To Launch Your Home Decor Business

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Build A Website

Building a website is imperative when launching your business, and with the right tools in place, this can be a simple task to check off the list (without having to hire someone).

  • Pick a domain name that's easy to remember and easy to type
  • Choose a Web Hosting Plan (ie. Shopify, Squarespace)
  • Make sure you choose the right theme and design
  • Implement the proper page structure (ie. about page, contact page, pricing etc)

To learn more about how to build a stellar website with little stress, we give you all the details on this step-by-step guide .

Once you have chosen the domain, web hosting, and platform, it's time to get started with the design phase.

Themes are a great way to produce the fundamental style and identity of your website - this includes everything from your font design to your blog post styles.

One of the best ways to get started is to simply explore the various themes (free or paid depending on what you're looking for) and test them on your site.

If web-design really isn't in the cards for you, you may want to consider outsourcing a web designer to help bring your vision and brand to life.

Launch Strategies For Your Home Decor Business

There are various different ways you can launch your home decor business successfully.

Here are a few different strategies to get customers excited about your home decor business.

  • Build hype with a landing page : you can effectively do this through waiting lists, discounts, countdown timer etc
  • Create a teaser video : even just a 30 second video is a great way to exposure for your home decor business, and possibly even go viral
  • Reach out to influencers : The right influencer for your product has the ability to reach your audience with just one post, and because of their loyal following, this could lead to a big return for you.
  • Get Press : Whether you plan a PR stunt or get exposure through a popular news outlet, this is a great way to attract initial customers
  • Launch on popular sites : A great way to get buzz about your home decor business is to submit your launch to popular startup sites.

Here are a few popular sites to launch on:

  • ProductHunt
  • Hacker News

Learn more about how to launch your business successfully ➜ here

Sarah Giller Nelson, founder of Less is More Organizing Services dives deep into the process of launching the business:

I initially sought to launch my business in Fall 2009 figuring there would be a lot of clients interested in having help swapping out their closets from summer to fall. The night before I was supposed to launch I got a text from the new nanny I had hired saying she had accepted another job. I was crushed. It took me until the end of December to find a replacement and launch.

We have spent so much time at home this past year staring at our old things and acquiring new things, that the need for organizing services remains strong.

When I did eventually launch in January 2010, I was hoping to tap into the fact that “getting organized” is one of the top New Year’s resolutions people make. I had a lovely website and emailed everyone I knew. I left flyers at businesses that catered to moms, my niche market. I joined a networking group. For the first few months, clients came trickling in very slowly.

At the time, Groupon and other deep discount services like it were at the height of their popularity. I decided to do a deal with Family Finds, a now-defunct service that specialized in activities and services for parents. Within 3 days I had 52 new clients! Although the first session was offered at a deep discount, about 75% of these clients signed up for additional sessions at full price. By the end of the year, I had to hire an assistant to help me out.

Lessons learned:

  • Know your market
  • Be flexible. Don’t stress if the launch or the time frame does not go according to plan. Life gets in the way, but, eventually, you will work it out - and be made stronger for it.

I knew from the start that most clients would find Less is More via a web search so I made sure to have an attractive, updated website. Here is what the home page looked like when I launched.

Make Sure You Get The Package Design Right

The way you package your home decor business is often the first impression your customer has - so it's important to get it right.

You may want to ask yourself these questions:

If my product is on a shelf next to hundreds of other similar products:

  • Will my home decor business stand out?
  • Will the branding/packaging create a connection with my customer, and hence, lead them to buy?

There are hundreds of tools you can use to help with packaging and design:

  • Canva - Allows non-designers to create beautiful Instagram/Pinterest posts, flyers, business cards, etc.
  • Stickermule - High quality custom stickers you can include on or in your packaging.
  • Noissue - Custom tissue paper and compostable mailers
  • Rollo Label Printer - A great tool to print all shipping labels at home

Sheets & Giggles explains the motive behind their "Premium Unboxing Experience"

I had a particular vision for our packaging centered around one goal: because we were a DTC company and wouldn’t do physical retail in year 1, we needed to focus entirely on an incredible unboxing experience that made the product feel as premium as possible.

Outside: a white box, nice wax coating, logo front and center with no other copy, easy to open, nice and sturdy.

Inside: make people smile from the get-go, have a social call-to-action, include free extra surprises (a knapsack that wraps the sheets and an eye mask), put funny copy all over the place, and add a donation bag that people could use to donate their now-defunct cotton sheets (sheets & blankets are the #2-most-requested item at shelters behind socks).

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Marketplaces

There are various different marketplaces that you can effectively sell and promote your home decor business, whether that's local or online!

Here are some of the most common ones:

  • Your own website! Shopify is known to be the best for e-commerce stores
  • Local places! Gift shops, farmers markets, festivals, grocery stores etc
  • Etsy - E-commerce website for craft supplies
  • Craft is Art Marketplace to buy and sell handmade crafts & fine art
  • Aftcra Online marketplace where you can buy and sell handmade products
  • Storenvy Marketplace for authentic brands

Etsy Tips From Founders

Etsy is one of the most common marketplaces for this business type, however, there are some tips and tricks from other founders you'll want to consider prior to listing:

Financially speaking, Etsy is a really great way to start a business because it’s essentially free until you start selling. It cost nothing to launch besides my 20 cent listing fees.

Etsy has been encouraging free shipping with a lot of pushback from sellers, but I built everything into our prices about a month ago and introduced free shipping shopwide , which seems to have improved conversion rates and search visibility already.

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I honestly attribute the bulk of my success to photography. I was a photographer first so obviously very lucky to have no issues launching with great images and it’s something I consistently produce.

With Etsy especially, there are a ton of mediocre amateur photos so it was an easy way to set myself apart from the start, and I don’t think Etsy themselves would feature my products and market them so often otherwise. We’re also able to compete fairly well on price because 80% of customers are American, and our dollar is much weaker.

One big mistake I’m seeing from other people selling handcrafted items is regarding Etsy. I’m seeing people do one of two things:

  • Under-utilize the platform
  • They are solely using the platform

What I mean by this is that I’m seeing a whole lot of handcrafters that only use Etsy because it’s easy. But referring people to an Etsy page as your webpage isn’t as professional as a dot com webpage, plus, Etsy’s fees are much higher than Shopify. Also, when Etsy makes changes to its marketing structure, I’ve seen people who have no other website get absolutely screwed and their shops go under.

The other camp is those that refuse to use Etsy at all. Etsy is a marketplace, with a built-in audience that is often searching for exactly the product you make! Both camps are making the mistake of not diversifying their markets. Use Etsy, it’s an amazing sales tool, but don’t rely on it solely.

Get Press Coverage For Your Home Decor Business

The more buzz around your brand - the more the phones ring, the more traffic to your website, and the more customers as a result.

Here are a few ways you can get press for your business:

Press releases:

Press releases are a great way to share big announcements or news, but in order to get any traction, you'll need to find a way to make your press release stand out amongst others.

Try to convey a story that really matters, not just to you, but to the reporter and to their audience.

Here are some things to consider when submitting a press release:

  • Craft a catchy subject (keep it short and sweet).
  • Acknowledge the journalist's past work and interests - this is key!
  • Include the main point of the story in the first paragraph, heck, even the first sentence. Reporters want to hear the juice first and foremost.
  • Focus on the facts and try to limit the amount of jargon used.
  • Pitch yourself! Help them put a face to the story.
  • Make sure your topic is newsworthy. If it's not, find a way to!
  • Try not to include any attachments of your release!

Email is one of the most effective and preferred way to send your press release, so as long as you keep your pitch brief, interesting and personalized (no cold emails), you should stand a chance!

Get Press Using HARO

HARO, otherwise known as "Help a Reporter Out" is an outlet for journalists to source upcoming stories and opportunities for media coverage.

The best part is, HARO is free to use! There are, of course, premium versions you can purchase, but the free version is still an accessible way to get press.

Once you set up an account, HARO essentially will email you based on stories (that are relevant to you) that need to be covered where you will then have a chance to essentially "bid on the story."

Here are some tips when crafting your pitch:

  • Discuss your experience and expertise in the space. Make sure it's obvious why you're relevant to this story.
  • Answer the question in 3-4 sentences. Try and be as direct as possible
  • Offer to provide the reporter with more information and make sure to give them your contact info

Plan a Publicity Stunt

Planning a publicity stunt is an effective and quick way to raise awareness for your brand and gain some traction from the press.

If you're looking to plan a stunt, the objective should be to be bold and create something memorable

However, being bold has a fine line - it's important that you consider the timing of your stunt to ensure you don't come off insensitive or unethical. For example, timing may not be in your favor if you plan something during the general election, or in most recent cases, a global pandemic.

In order to measure the success of your stunt, it's important that you first determine your end goal, for example:

  • Is the stunt aimed to raise money for your business or a particular organization?
  • Is the stunt aimed to drive more traffic to your website?
  • Is the stunt aimed to get more followers and engagement on Instagram?

Here are a few tips for creating a great publicity stunt:

  • Research to ensure that there haven't been similar stunts done in the past by other businesses - this could easily turn off journalists and your audience.
  • Make sure you can explain the stunt in one headline - this will help grab the media's attention. In other words, simplify!
  • The stunt should be related to the product you are promoting. Even if the stunt is a success in terms of viewers, but it doesn't tie back to your original goal, then it's not useful.
  • Keep the stunt visual with videos/images.
  • Leverage the internet and social media platforms for your stunt by sharing your message across a variety of audiences. This will help with word of mouth and the overall success of your event.

To learn other strategies on how to get press, check out our full guide here .

🌱 How To Grow Your Home Decor Business

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Consider Selling On Amazon

In addition to selling your products directly on your site, you may want to consider selling on Amazon to reach a wider audience and attract new customers.

Here are some pros and cons of selling on amazon:

  • Easy and seamless process to get your product listed on Amazon
  • There are roughly 100 million thoroughly committed prime customers, so you're bound to tap into new business
  • Can help grow your business exponentially and reach new audiences
  • You may encounter some "copycats" and counterfeit products
  • Amazon owns the relationship with the customer (you lose control over product reviews + customer service)
  • If you already have a low-markup, amazon may not wrth your while and you could end up losing money
  • Commissions and listing fees are high - it's easy to lose control of your offering

Follow these instructions to get your product listed on Amazon or check out the video below on how to get started:

Cory Stout, founder of Woodies ($250K/mo) provides us with specifics on how to rank better on amazon:

Our main product is walnut wood sunglasses that I sell for $25 on Amazon and Woodies.com.

I dedicated myself to becoming an Amazon expert. I listened to all the podcasts and read all the blog posts I could find. Shoutout EcomCrew I took the basic fundamentals that are out there and I added a couple of my own twists.

Amazon brings me, 100 brand new customers, every day for very little acquisition cost. If I tried that on my own, it would take a TON of work and it wouldn’t be nearly as effective as Amazon, so I took the easy road on this one.

Here's an article I wrote on how to rank better on amazon (30+ Tips):

5/5: ESSENTIAL

  • Beautiful images (minimum 5 images) especially lifestyle images I use UpgradedImages.com for product photography (hey Ken!)
  • Keywords in your title (but it still needs to sound human)
  • Competitive price (contributes to high conversion rate)
  • NOT having 1-star reviews
  • DON'T STOCKOUT: it's such a killer and if you DO stockout, definitely DON'T raise your price right before you do, if anything LOWER your price for the last 10-20 units before you stockout, each ASIN has a 'memory' for when you do get back in stock so that will help you regain ranking quickly
  • DON'T VIOLATE AMAZON TOS: just don't
  • Perform QC on your stock before you send it in (I sent in a wrong box once and I had to 'remove' over 3,000 pieces so I could sift through them and remove the 150 contaminated pieces 0/7 would not recommend

4/5: Pretty Friggin Important

  • Minimum 10 5-star reviews (do this before you do anything below this)
  • Well optimized PPC campaigns (could do a whole post on this, keep ACOS under 40%) here's a screenshot of some of my campaigns I use a combination of manual campaigns with exact phrases and high bids...and auto campaigns with a broad range of products and very low bids
  • Turning on FeedbackGenius for auto review requests (it's not as good as it used to be, but it's still worth it)
  • Get a trademark and get Brand Registry, this protects you from hijackers and other unscrupulous sellers
  • Quick response to customer messages (under 12 hours) here are my stats my mom does all my customer service "Employee of the Year" status
  • Drive outside traffic (amazon loves outside traffic because they don't have to spend so much to acquire customers) Facebook, Instagram, and Google Adwords are the usual suspects
  • Use ocean shipping to save mucho $$$ on unit costs (use flexport)

Read more about amazon tips here .

Improve your SEO

SEO is not just about driving traffic to your site, it's about driving the RIGHT traffic to your site , and ultimately, converting leads into customers.

One of the most important aspects of SEO is understanding what your customers are searching for, otherwise known as "keyword research."

Here are some tools that can help you choose the right keywords for your home decor business.

  • Google Ads Keyword Planner invaluable for discovering search trends.
  • Google Search Console is very helpful once your website is up as it shows you what words/phrases are generating traffic.
  • Ahrefs and SEMRush are paid tools that allow you to look at results of your competitor's website.

Publish Great Content

Finding keywords is an important piece of the puzzle, but Google also ranks your site based on the actual content you produce, as this is what your customers are reading and engaging with.

There are various different "forms" of content that you may want to consider diversifying on your sites, such as blog posts, articles, studies, and videos.

So let's discuss what google considers "good content:"

  • Length - This will vary depending on the page, however, generally having a sufficient amount of content helps search engines recognize that your site is a good source for a specific topic
  • Engagement - The longer people stay on your website to read your content, the higher Google will rank your website. It's important to have informative and "thick" content that keeps people reading
  • Avoid Duplicating Content - Google will recognize this and may consider your content to have low value
  • Ensure pages load quickly - This will also help with engagement and time spent on your website
  • Shareability - Create content that people want to share, and is easy for them to share, especially to their social media accounts (ie. "click to tweet" is a great example of this).

Another element of creating good content is creating consistent content.

If (and hopefully you are) publishing content frequently, it's important to stick to a schedule - this helps build brand trust and easy user experience with your customers.

Planning out your content with a content calendar is key to staying consistent.

Here are a few great content calendar tools that can help you:

  • If you prefer to keep it simple, your average spreadsheet is just as useful!

Backlinks are an important piece to SEO, as they allow for other websites to link to your content.

Search engines recognize that other sites are essentially "verifying" your content and essentially rank you higher because of this.

Of course, some links are more valuable than others and can affect your site in different ways.

For example, if a highly valuable and credible site like the New York Times links to a page on your website, this could be remarkable from an SEO perspective.

Aside from organically getting mentioned from other sites, there are other ways that you can increase and earn backlinks:

  • Create infographics with relevant data that people want to share
  • Promote your content on different sites/look into "guest blogging"
  • Contact influencers/journalists/bloggers and ask them to mention you!
  • Write testimonials for other sites in exchange for a backlink
  • Leverage existing business relationships

Learn more about the fundamentals of SEO ➜ here and check out Neil Patel's 3 Powerful SEO Tips below

Build A Blog

One of the most effective ways to build brand awareness and grow your business is through consistently blogging.

We've outlined some useful tips for you to consider when creating content:

Consistency and Quantity

Quality is important, but it should be the standard for any content you publish.

What’s more important is consistency and quantity.

Consistency is as simple as committing to publishing and sharing a certain number of posts per week. For me, that’s three per week right now.

This kind of commitment is key, because one day, a random post will blow up, and you will have never expected it.

Oversaturation

The easiest mind trap is to think "I’m posting too much", and “I need to give my readers/audience/this platform a break”.

This is nonsense.

There is no such thing as oversaturation. Well, there is, but it is just someone else’s opinion.

For every person that tells you you are posting too much, there is another person that wants even more of your content.

You should ignore people’s opinions on how much you post.

Patience & Persistence

Keep posting, keep trying, and keep putting out good content on the regular. Your time will come, and when it does, it will change everything.

The only thing you have control over is your content.

You can’t control how people will react to it. You can’t control pageviews, likes, or shares.

So the only metric you should focus on is how much content you can put out in a week, month, etc.

Where to share your blog content

Mailing List

I know it sounds obvious, but the best places to share your content is on your mailing list. It is guaranteed traffic and it is a great way to get rapid feedback from your most loyal readers.

Send newsletters often. I have done once a week since starting, and I’m moving to twice a week soon.

Work on increasing your mailing list as well. Look into ways to increase your conversion rate to your mailing list. I added a flyout popup thing to my site and now I’m collecting ~30 emails per day.

An email newsletter is one of the most powerful assets you can have and it is worth its weight in gold.

Reddit is one of my favorite places to promote content.

It is a very scary place because you will often get banned or heckled, but it can really pay off.

Create social media accounts for your blog, the main ones I use:

Twitter Facebook Instagram LinkedIn

Set up Buffer and share all of your blog posts to all of your accounts. All of these little shares really do add up.

Automate this as much as possible. I automated all of my social media for Starter Story.

Facebook Groups

When I started out, I put together a spreadsheet of relevant Facebook groups for my niche, and I would post to these groups whenever I had a big story I wanted to share.

Grow Your Email List

The more engaged list of emails, the more engaged customers, which ultimately leads to more sales.

One of the best ways to start growing your list is by providing your customer with something free (or discounted) in return.

This could also be anything from:

  • Fascinating case study
  • Video series
  • Free week of the product
  • Discount on the product

Learn more about how to grow your email list and improve email marketing ➜ here .

Dylan Jacob, founder of Brumate states their email collection tactic that is proven to work:

We use Spin-a-Sale for this (you spin a wheel for a discount code in exchange for subscribing to our email list). This has been the best email-collecting tool we have found because the customer truly feels like they won a prize rather than just a coupon code.

Even if a customer doesn’t convert right away, if we have their email we have a 19% chance of converting them into a future customer whether that is through future promotions, new releases, or simply just sending an email at the right time for a purchase to finally make sense for them.

We also have a return customer rate of over 14%, so one out of every 6 people we convert will end up buying from us again with an average order value of over $60.00.

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Add an exit-intent popup to your online store

A great way to double, or even triple, your email opt-in rate and to grow your list is to add an exit-intent popup to your site, and offering a discount or content upgrade for subscribers.

Here's an example of what that might look like:

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One thing that I spent years NOT doing, that I now kick myself about, is adding an "exit intent pop-up" to our site, which lets people enter a sweepstakes to win a Xero Shoes gift certificate.

That one idea has added over 100,000 subscribers to our email list, which is one of our most effective marketing channels.

Improve Your Email Marketing

Different types of emails

Here are the most common types of email campaigns you can send to your customers and their benefits:

  • Welcome emails - the perfect way to provide information from the start with a clear CTA. Make sure to tell your customer everything they need to know about your product or service.
  • Newsletters - a great way to give customers updates or send out your latest content
  • Product launch emails - the quickest (and easiest) way to increase sales is by selling to current customers. Make sure they're the first on the list to know about your new product
  • Promotional emails - promote discounts, deals coupons etc. Try and make this feel exclusive and for a limited time only
  • Abandoned cart emails - give your customers a reason to complete their purchase!

Here's a great resource for finding curated email designs, for all types of email campaigns!

Abandonded Cart Flow

The abandoned cart workflow is one of the most effective strategies for turning your lead into a customer, and a powerful tool to have if you're an e-commerce business.

Think about all the times that you went on a shopping frenzy only to add items to your cart and then either forget or realize nows not the right time to pull the trigger.

Then, minutes later you receive an email saying "Hurry up! Your cart is waiting - and we want to provide you with 20% off your order."

Maybe that's the special touch (and discount) you needed to pull that trigger.

Implementing this workflow can automatically trigger this for your business every time a customer abandons their cart.

Here's a great example of an abandoned cart email from Brooklinen :

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Things they do well:

  • Showcase 5-star reviews from other customers
  • Offer a small discount + free shipping
  • Great design + clear call to actions!

Experiment With Pay Per Click Ads (PPC)

Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.

Here are some tips to consider:

  • Consider connecting the ad to your corresponding landing page so that the audience receives the necessary information after clicking on the ad.
  • Conversion Tracking: When running PPC campaigns, be sure to run the ads with conversion tracking.
  • Focus on quality keywords, even if there are few as this will save you time and money. When assessing the performance of a keyword, it's important to track the expense, conversion, and cost per conversion, as well as the ROI.

PPC advertising can be a very important lead generator as long as it's done properly. Your PPC campaign is intended to drive traffic to your website and help the business scale.

Additionally, if the campaign is not having the desired results, you can make the necessary changes immediately to improve them.

Ryan Schortmann, founder of Display Pros talks about their investment in PPC Ads:

My name is Ryan Schortmann and I’m the founder of Display Pros. We are a custom trade show display booth company offering easy to use portable display “kits” for small and medium businesses wanting to get into the trade show game.

It did not take long to come to the realization that to compete at any reasonable level, we were going to need to take the plunge and invest in Pay Per Click ads and display.

From experience, I know that it is important to give Google’s hivemind some time to settle in before each campaign starts seeing consistent results (this is largely dependent on budget).

A certain amount of PPC budget must be viewed as a “marketing research” expense and then you can look at the analytics data and make informed decisions on where to refine, tweak or plain scrap an idea.

Google Shopping was an entirely new concept for me. You can’t assign keywords to products so at first, I was asking myself “How the hell do you refine these?”. Then I found some good reading material and courses and learned of some advanced methods that the pros are using. It turns out you can utilize negative keyword lists combined with the priority setting on each shopping campaign to “shape” the keywords that are coming in and how much you are spending on them.

To learn more about PPC Ads and Google Shopping, check out this video to learn everything you need to know!

Build A Facebook Community

Building a community is a great way to grow your network and your business.

There are several different ways of building a community, one of the most effective (and simplest) ways is to build a Facebook group

Setting up the group page takes less than 10 minutes, and we've outlined ways the top 5 ways to create an engaging and successful group:

  • Make the group exclusive. This may sound counter-intuitive, however, this ensures privacy and that the group will feel comfortable posting and engaging with members.
  • Try to be warm and welcoming. A great way to do this is by having a "Member Monday" where you welcome new members and ask them to introduce themselves in the group
  • Use polls/surveys. This is a great way to know your audience and see what people want more of in the group (more business tips, networking opportunities, etc).
  • Include influential people & conduct AMA's (ask me anything). This is a great way to get members engaged
  • Host an in-person (or virtual) event with members in the group. This will create stronger relationships and build a strong community.

Mike Doehla, founder of Stronger U, an online nutrition company noticed that his customers needed a little motivation and sense of community:

Most diets are lonely so we wanted to give support and a community.

I think many people fail diets because there is no one to talk to and no accountability.

You can by a book, or google a meal plan but who’s going to keep you on track? We will. The entire SU community.

We give our members access for life to our Facebook community filled with people around the world who are looking out for everyone’s success.

Most diets make up arbitrary rules and we thought they just didn’t make sense. Meal timing, Cutting carbs, butter in coffee, sugar being the devil? Ehh no need to overthink that stuff.

We’ll give you the science behind of what we do and show you what actually matters based on real research.

Luckily we have a PhD at our disposal to educate our staff and members so everyone is getting the most up to date information out there.

Social Media Advertising

Social Media Advertising is one of the leading ways to get the word out when it comes to home decor business.

There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.

Let's talk about a few of the main platforms and what makes them unique:

  • Facebook Advertising - more than 2 billion monthly users. Facebook is the best for lead generation + capturing email addresses for e-commerce businesses.
  • Instagram Advertising - approximately 500 million monthly users and has a higher audience engagement rate than any other platform. Instagram ads are best for linking to a product page or landing page and reaches the 18-29 age group most effectively.
  • Twitter Advertising - Small businesses typically use twitter ads to drive brand awareness, but the platform is meant more for organic engagement (and is not as heavily used for paid advertising)
  • Pinterest Advertising - 175 million monthly users and most effectively reaches the female audience. Pinterest is great for promoting products without "promoted". The promoted pins have a way of blending right in.
  • LinkedIn Advertising - 227 million monthly users and is geared towards the B2B market and generates the highest quality leads. Great platform for recruiters, high-end products and services that will help businesses

It's important to first define your goal/objective so that you don't waste time and money into the wrong platform:

Here are some different questions to ask yourself as it relates to your goals:

  • Do I want to simply drive brand awareness?
  • Do I want to drive users to my website to gather information?
  • Do I want to increase sales and get my customer to take action?

From there, choose the platform that targets your audience best and start experimenting!

Learn more about social media advertising ➜ here .

Founder Andy Hayes talks about mastering FB ads and the pixel:

The biggest bang for your buck will likely be mastering Facebook and it’s platform - which we all know is pay for play, so you’ll have to come up with a small amount of budget to start for marketing.

We’ve spent countless hours (and paid numerous coaches) before we cracked the code that works for us on Facebook, but it is working really well for us now.

Some of the most important things to know when it comes to FB Ads:

  • Start with retargeting (that’s showing ads to people who already know you but did not purchase). Master this - and start building information on your Facebook Pixel - before you do anything else
  • Once you have that down, try working with the 1% “Lookalike” audience to prospect for new customers. This may take awhile because your pixel audience is small, so try layering on interests - 1% Lookalike and your largest competitor, for example. Don’t use interest-only targeting until you master this.
  • Great photography and videography is key, as is smart copy. Research what’s out there in your industry and constantly test - what works for one company may not work for other people.
  • Make sure you have good offers. For example, we have a $5 trial for our subscription, which converts affordably - if we promoted our subscription with the standard $30 front charge, it wouldn’t be as cost-effective.

Host A Social Media Giveaway

People love free stuff and love competition. Giveaways and contests are a great way to create awareness for your brand, grow your email list, and eventually convert leads into customers.

If your goal is to gather email addresses, make sure the entry criteria is to "enter your email." You can do this by leading customers to your landing page where they can then enter their email to be in the giveaway.

One of the most important aspects of promoting a successful giveaway is having an amazing prize. The better the prize, the more engagement you'll get.

This doesn't necessarily mean choosing an iPad or an expensive/trendy watch, but instead a prize that is actually relevant to your brand/target audience.

Giveaway Example and Tips

Example from TJ Mapes, founder of RIPT Apparel

Our most recent successful giveaway was when we gave away a PS4 + the new Spiderman game. I hosted the giveaway on our site and then let our audience know about it via email/social channels.

Entrants earned different amounts of entries for entering in different ways (tongue twister!), for instance; enter via email, get 10 entries. Follow us on Facebook, get 5 entries. Subscribe on Messenger and get 25 entries .

how-three-friends-launched-2-4m-t-shirt-startup-ript-apparel

I also built out a drip sequence in Klaviyo that contained four emails to encourage entrants to take more action, like referring friends and liking us on social.

Email #1: Thanks for entering!

how-three-friends-launched-2-4m-t-shirt-startup-ript-apparel

Email #2: Explained how to earn bonus entries:

how-three-friends-launched-2-4m-t-shirt-startup-ript-apparel

Email #3: About us

how-three-friends-launched-2-4m-t-shirt-startup-ript-apparel

Email #4: Coupon for entering

This last email in the sequence just thanked them again for entering and also included a coupon to a specific (related) collection of designs with an expiration date on it to incentivize purchases.

how-three-friends-launched-2-4m-t-shirt-startup-ript-apparel

PS4 Giveaway Results:

We ran it for 2 weeks and recorded results in a meticulous spreadsheet to analyze the data. Here are some of the highlights:

  • Giveaway page pageviews - 67,355
  • Total entrants - 26,137
  • Conversion rate - 38.80%
  • Total entrants in Klaviyo (not suppressed) - 24,515
  • New emails acquired - 16,363
  • Emails we already had - 7,521
  • % of new emails - 66.75%
  • Cost of item - $350
  • Instagram visits - 10,618
  • Instagram followers gained - 3,496 ( total followers lifted by 6.9% )
  • Twitter followers gained - 4,194

🏃🏼‍♀️ How To Run Your Home Decor Business

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How To Retain Customers For Your Home Decor Business

Retaining customers is one of the most effective ways to grow your home decor business.

Oftentimes, it's easy to find yourself focusing on generating new customers, vs retaining your current ones.

Look at it this way - you are 60-70% more likely to sell a new product to an existing customer than you are a new customer.

That's not to say that finding new customers and revenue streams is not important, however, the easiest (and most inexpensive) source of new revenue is right there in front of you.

Here are some ways you can retain customers for your home decor business:

  • Responding to comments on social media
  • Send discounts (or freebies) to loyal customers
  • Provide valuable content, for free
  • Write a hand written thank you note
  • Provide awesome customer service and build relationships with customers

To find out more tips and tricks on retaining customers, check out this article ➜ here

James Wolfer, founder of Valhalla Wood Forge dives deep into the process of attracting and retaining customers:

Really, focusing on social media and great customer service has been our two biggest advantages. I try to be extremely responsive to customers and potential customers, including doing digital mockups of their customization requests. For a physical product, Instagram has been our best referral for rings, especially with the stunning product photography my wife does. I rarely have done paid ads, focusing instead on generating organic followers who will actually buy my products. Shopify is amazing for this, as it can directly plug into Facebook and Instagram, so we’re able to tag our products on both and have people click through to our site direct from Instagram.

To grow the follower count organically, I’ve hosted a few giveaways of larger items, such as our wood flags. Lately, I’ve partnered with some smaller influencers in similar niches, such as construction and the veteran community, to do joint giveaways where in order to win, you have to follow both accounts and comment on the giveaway post. This makes Instagram’s algorithm recognize engagement, which then leads Instagram to push these posts higher in search results. I’ll usually do a paid boost for these posts, around $50 or so, which makes the engagement skyrocket. This helped grow the follower count to where it is today, around 4,000. In order to keep these followers, however, I make sure that I post a quality post, once a day.

Lately, I’ve found that engagement seems highest when I post a good mix of high-quality product photos, as well as “lifestyle” photos showing us in the shop working, or out and about living life while wearing a ring. For example, I often post photos that customers send in of their flags hanging in their houses, or wedding photos their photographer took of them with our rings on.

I wish I treated it more like a business earlier on instead of a hobby. If you are passionate about something and making a little bit of money with it, you can turn that into a lot of money.

Also, as I mentioned above, you just can’t beat great customer service. I answer emails within hours of getting them whenever I can. If a ring has a defect that is my fault, I make it right, no matter what. Often, even though I have a no return policy, I will go above and beyond to help customers who damage their rings or got sized wrong, replacing or resizing rings for free. This has reflected in my reviews on both Etsy and Shopify, with all 5-star ratings so far. The biggest thing I keep hearing and seeing is how great our customer service is, and I’ve definitely started seeing an increase in repeat customers.

Finally, I’ve started increasing paid ads on Etsy. Etsy is probably 20% of our orders, but it’s a built-in marketplace. In August, they changed their ad structure and it costs quite a bit more for results. I saw a lot of sellers complaining about this online and decided to move away from Etsy entirely. Since Etsy is only a portion of our gross revenue, I decided to do the opposite, and more than doubled my ad spend within Etsy. This has resulted in a HUGE increase in sales for the last couple of months. But really, I think I have my budget at $2.50 a day and it’s paid off about with an average of ten times ROI, leading to September being my best month ever on Etsy, during a typically low performing month for handcrafted goods.

Etsy order history YTD - I started using Etsy ads heavily starting in September

Diversify Your Product Line

Adding new products to your business is a great way to expand into new markets and grow your business.

It's important to note that adding new products and diversifying may not be in the cards for you right this moment, and that's okay. You can always consider it down the road.

Here are some reasons you may want to considering adding/diversifying your product

  • Meeting the needs of your customers
  • Establish yourself as a top provider in your industry and stay ahead of the game with competition
  • Resistance to downturns/trends fading
  • Create new revenue streams

Provide Great Customer Service

Providing exceptional care and creating relationships with clients is a great way to build your reputation and retain customers.

Whether you are an online business or a physical business, it's highly important to communicate with customers and make them feel like they are the priority.

Just remember: customer service represents your brand, values, vision and YOU as a person.

Outsourcing

If you can afford to hire someone to help support your home decor business, outsourcing is a great way to save you time and energy.

Most importantly, outsourcing can help you focus on the core growth of your business, versus spending your time on day to day tasks that other people can do just as well!

If you do plan to outsource your work, it's important to be hyper-familiar with the actual work involved.

Why is it important to be hyper-familiar with the work?

  • So you can understand how long it takes
  • So you understand the full process, edge cases, things that can go wrong.
  • So you can explain it in detail to your employee.
  • So you can make sure it actually works (for example - how do you know cold email works for your business if you’re not on the ground floor trying it out?)
  • Understanding the tasks at a deep level will save you a lot of time and money.

Authenticity

As a brand, you want to deliver an experience that authentic, honest and transparent.

Don't make the mistake of giving your audience less credit than they deserve.

Be Authentic

If you go around chasing every trend and only focused on yourself and money, you’re going to lose very quickly.

There have been many times where we have been tempted to do this but stayed true.

Sure we sacrificed sales, but we kept our integrity, played the long game and people saw and appreciated that, and really began emotionally investing in the brand.

Build a Referral Program

Word of mouth is one of the best ways to get the word out about your business and acquire new customers. Especially when you are starting out, it’s important to build a solid referral program to encourage existing customers to help you find new ones.

A great way to do that is by offering a reward (ie. credit on your service or cash) to customers that refer you to their friends and family.

A fantastic referral program will help with clout, credibility, and establishing yourself in the space.

Word of Mouth

The most tried and true way to grow a home decor business is through word of mouth - some entrepreneurs would say it's more important than all social media.

Why you should focus on word of mouth:

  • Consumers trust word of mouth above all other forms of marketing
  • 92% of consumers believe recommendations from friends and family over all forms of advertising
  • 64% of marketing executives indicated that they believe it is the most effective form of marketing

Learn more about word of mouth in our guide: 30 Ways Founders Grow Their Business ➜

We put together the best resources on the internet to help you start your home decor business.

  • Platform tools such as Shopify , WooCommerce , Etsy , Wix.com or Canva
  • Email tools such as MailChimp , Constant Contact , Omnisend or G Suite
  • Social media tools such as Facebook , Instagram , Twitter , YouTube , Pinterest , LinkedIn , Snapchat , PromoRepublic or Tiktok
  • Advertising tools such as Facebook Ads , Instagram Ads or Google Adwords
  • Design tools such as Canva , pixlr or Adobe Suite
  • Shipping tools such as ShipStation , USPS , Sendcloud , UPS WorldShip , Pirate Ship or UPS
  • Analytics tools such as Google Analytics
  • Productivity tools such as Google Suite
  • Payments tools such as Paypal , Shopify Payments , Square , Apple Pay or Venmo
  • Blog tools such as WordPress or Squarespace
  • Accounting tools such as Quickbooks
  • Reviews tools such as Stamped.io
  • Freelance tools such as Fiverr
  • Seo tools such as Ahrefs or Yoast
  • Web hosting tools such as GoDaddy or Cloudways
  • Stock images tools such as Pexels
  • Software deals tools such as AppSumo
  • Financing tools such as Shopify Capital
  • Wholesale tools such as Faire.com
  • Home Staging for Profit: How to Start a Six Figure Home Staging Business and Begin in 7 Days or Less

How To Start A Home-Based Interior Design Business, 5th (Home-Based Business Series)

Good to Great: Why Some Companies Make the Leap and Others Don't

Web Resources

  • How To Start A Home Decor Business - Offline & Online
  • Ideas For Starting A Home Decor Business - The Spruce
  • How To Sell Home Decor Products Online
  • Starting A Home Decor Business - From 9-5 To Entrepreneurship

Case Studies

  • How I Started A $4K/Month Veteran And First Responder Woodworking Company
  • I Turned My Hobby Into A $4.5M/Year Metal Wall Art Business
  • How I Started A $8K/Month Home Organizing Service
  • How My Home Decor Making Side Hustle Grew Into A $5K/Month Business
  • How I Started A $3K/Month Interior Design And Organization Online Service
  • My Niche Interior Design Blog Website Attracts 40K Visitors Every Month
  • 750+ Trendy Home Decor Business Names 1 of 10
  • 75 Best Interior Design Post Ideas & Topics That Your Audience Will Love [2024] 2 of 10
  • 42 Trending Home Decor Businesses [2024] 3 of 10
  • 75 Marketing Ideas For A Home Decor Business (2024) 4 of 10
  • 625+ Trendy Home Decor Slogans & Taglines 5 of 10
  • 9 Tips For Starting A Successful Home Decor Business (2024) 6 of 10
  • How Much Does It Cost To Start A Home Decor Business? (In 2024) 7 of 10
  • 21 Pros & Cons Of Starting A Home Decor Business (2024) 8 of 10
  • 11 Home Decor Business Success Stories [2024] 9 of 10
  • 300+ Powerful Interior Design Instagram Bios In 2024 [With Examples] 10 of 10

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Home Decor Business

Back to All Business Ideas

How to Start a Home Decor Business

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on February 4, 2022 Updated on February 14, 2024

How to Start a Home Decor Business

Investment range

$2,550 - $39,100

Revenue potential

$250,000 - $1.25 million p.a.

Time to build

1 – 3 months

Profit potential

$75,000 - $250,000 p.a.

Industry trend

Everybody wants their home to look great. Especially these days, it’s where we spend the most time, so it’s important that our home feels warm and welcoming and comfortable. This explains why home décor is a nearly $190 billion market in the United States. If you have a good eye for style and design, you could start your own home decor business, make people feel better about their living space and grab a chunk of that massive market. You could start by selling online, then later open your own store. 

Starting a home décor business, however, takes more than an eye for design. You have to learn some business savvy and understand the ins-and-outs of being an entrepreneur. Fortunately, you’ll find everything you need to know to prepare you for your new career in home décor in this step-by-step guide.

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a home décor business has pros and cons to consider before deciding if it’s right for you.

  • Get Creative – Use your eye to choose items to sell
  • Flexibility – Specialize, make items, sell online, or open a store
  • Good Money – Excellent markups on home décor items
  • No Need for Inventory – Use a supplier that will drop-ship
  • Tastes Change – Need to keep up with trends
  • Competitive Market – Market is saturated with home décor options

Home decor industry trends

The US home decor industry has steadily grown since 2010 and continued to perform strongly even when the Covid-19 pandemic struck in 2020. 

Industry size and growth

  • Industry size and past growth – The US home decor industry was valued at $175 billion in 2020, after growing an average of 3% per year over the past decade.(( https://www.statista.com/statistics/1015171/home-furnishings-market-value-us/ )) 
  • Growth forecast – The industry is predicted to expand more than 3% per year through 2024.
  • Number of businesses – There are nearly 15,000 home furnishings stores in the US.(( https://www.ibisworld.com/united-states/market-research-reports/home-furnishings-stores-industry/ )) 
  • Number of people employed – US home furnishings stores employed almost 190,000 people.

home decor industry size and growth

Trends and challenges

Trends in the home décor industry include:

  • Bold colors and patterns are trending in 2022, as well as traditional designs and décor themes that include elements of nature.
  • Home décor product sustainability is in demand, and consumers want transparency about materials used, and manufacturing processes and location.

Challenges also exist in the home décor industry, which include:

  • Because of the huge number of online home decor sellers, home decor businesses are finding it necessary to partner with retailers and interior designers to increase revenue.
  • Supply chain issues are delaying the delivery of some items due to delays in materials.

home decor industry Trends and Challenges

What kind of people work in home decorating?

  • Gender – 78% of home decorators are female, while 22% are male.(( https://www.zippia.com/home-decorator-jobs/#cmp-demographics-section ))
  • Average level of education – 43% of home decorators hold a bachelor’s degree and 30% have an associate degree.(( https://www.zippia.com/home-decorator-jobs/education/ ))
  • Average age – The average age of a home decorator is 40 years old.(( https://www.zippia.com/home-decorator-jobs/demographics/#age-statistics ))

home decor industry demographics

How much does it cost to start a home decor business?

To start an online store for which you have items drop-shipped from a supplier or manufacturer, it will cost about $2,500. That includes the cost of your first order as well as a website. Drop-shipping means that you order products from suppliers only after customers place the order, and then the supplier ships the items directly to your customers. You could sell your items through an Etsy or Shopify store rather than your own website if you choose. 

To start a home décor store it will run you up to $40,000. The costs include space rental, the preparation of the space, and your initial inventory. 

How much can you earn from a home decor business?

Prices will vary by item, but these calculations will assume an average item price of $50. You can mark up your items 20%-40% depending on the item, for an average of 30%. If you have an online store, after expenses, your profit margin should be about 20%. 

In your first year or two, you could work from home and sell 5,000 items in a year, bringing in a healthy $250,000 in annual revenue. This would mean a tidy profit of $75,000, assuming that 30% margin. As your brand gains recognition and you get repeat customers, sales could climb to 25,000 items a year. At this stage, you’ll have to rent a storefront and hire staff, reducing your profit margin to 20%. With expected annual revenue of $1.25 million, you would make an impressive $250,000 in profit.

Home Decor business earnings forecast

What barriers to entry are there?

There are a few barriers to entry for a home décor business. Your biggest challenges will be:

  • Startup costs if you choose to open a store
  • Massive competition in a saturated market

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Step 2: hone your idea.

Now that you know what’s involved in starting a home décor business, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research home décor businesses in your area and online to examine their products, price points, and what sells best. You’re looking for a market gap to fill. For instance, maybe the local or online market is missing a home décor business that specializes in 3D art.

home decor business plan pdf

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as lamps.

This could jumpstart your word-of-mouth marketing and attract clients right away. 

What? Determine your products or services

You’ll need to determine if you want to specialize in certain types of products, or if you want to offer a variety of home décor products. You should choose the specific items based on what is trending in the market, but you can also use your own eye for design.

How much should you charge for home décor products?

Prices will vary based on the items. You’ll need to research what comparable items are selling for to keep your prices competitive. You should aim for a profit margin of about 20%.

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price point. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market will be extremely broad, so you should spread out your marketing efforts. You can find customers on TikTok, Instagram, Facebook, and LinkedIn. You could also partner with interior designers to get referrals to their clients. 

Where? Choose your business premises

You can run your business from home if you sell online and use drop shipping. If you open a store, you’ll need to rent a commercial space, preferably in an area that has other shopping options and a lot of foot traffic. Find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

  • Central location accessible via public transport
  • Ventilated and spacious, with good natural light
  • Flexible lease that can be extended as your business grows
  • Ready-to-use space with no major renovations or repairs needed

home decor business idea rating

Step 3: Brainstorm a Home Decor Business Name

Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.

Here are some ideas for brainstorming your business name:

  • Short, unique, and catchy names tend to stand out
  • Names that are easy to say and spell tend to do better 
  • Name should be relevant to your product or service offerings
  • Ask around — family, friends, colleagues, social media — for suggestions
  • Including keywords, such as “décor” or “home decor”, boosts SEO
  • Name should allow for expansion, for ex: “The Decor Hub” over “Industrial Interiors”
  • Avoid location-based names that might hinder future expansion
  • Use online tools like the Step by Step Business Name Generator . Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

Powered by GoDaddy.com

Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that set your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Home Decor Business Plan

Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:

  • Executive Summary: A concise overview of your home decor business, highlighting key aspects and objectives.
  • Business Overview: A detailed description of your home decor business, including its mission, vision, and values.
  • Product and Services: A clear outline of the home decor products and services you offer, emphasizing their unique features and benefits.
  • Market Analysis: An examination of the home decor market, identifying target demographics, trends, and potential opportunities for growth.
  • Competitive Analysis: An assessment of competitors in the home decor industry, highlighting strengths, weaknesses, and strategies to differentiate your business.
  • Sales and Marketing: A plan outlining how you will promote and sell your home decor products, including advertising, promotions, and sales channels.
  • Management Team: Introduction to key individuals in your home decor business, emphasizing their skills and experience.
  • Operations Plan: Details on how your home decor business will operate, including suppliers, production processes, and distribution channels.
  • Financial Plan: A comprehensive overview of the financial aspects of your home decor business, including projections, budgets, and funding requirements.
  • Appendix: Supplementary materials such as additional data, charts, or supporting documents to provide further context for your home decor business plan.

what to include in a business plan

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business! 

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to home décor businesses. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your home décor business will shape your taxes, personal liability, and business registration requirements, so choose wisely. 

Here are the main options:

  • Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
  • General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
  • Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
  • C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
  • S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

types of business structures

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2023

home decor business plan pdf

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN. 

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

home decor business plan pdf

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

  • Bank loans : This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
  • SBA-guaranteed loans : The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
  • Government grants : A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
  • Friends and Family : Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
  • Crowdfunding : Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
  • Personal : Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best options, other than friends and family, for funding a home decor business. You might also try crowdfunding if you’re making unique home décor items to sell. 

types of business financing

Step 8: Apply for Home Decor Business Licenses and Permits

Starting a home decor business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your home décor business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account. 

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

  • General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
  • Business Property: Provides coverage for your equipment and supplies.
  • Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
  • Worker’s compensation: Provides compensation to employees injured on the job.
  • Property: Covers your physical space, whether it is a cart, storefront, or office.
  • Commercial auto: Protection for your company-owned vehicle.
  • Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
  • Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

types of business insurance

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks. 

You may want to use industry-specific software, such as Autodesk AutoCAD LT , TurboCAD , and Live Home 3D for interior decoration 3D rendering.

  • Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
  • If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial. 

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

For your home decor business, the marketing strategy should focus on showcasing the uniqueness, style, and quality of your decor items. Highlight your ability to enhance any living space, whether through trendy, classic, or custom-made products, and emphasize any special features like eco-friendly materials or collaborations with local artists. Here are some powerful marketing strategies for your future business:

Kickstart Marketing

  • Professional Branding : Your branding should reflect the style and aesthetic appeal of your products. This includes your logo, store design (both physical and online), and marketing materials.
  • Direct Outreach : Network with interior designers, real estate agents, and home staging professionals to introduce your products. Collaborate with local businesses for cross-promotion.

Digital Presence and Online Marketing

  • Professional Website and SEO : Develop an engaging e-commerce website that showcases your products with high-quality images and detailed descriptions. Use SEO best practices to rank for searches related to home decor, interior design, and stylish home accessories.
  • Social Media Engagement : Utilize visually oriented platforms like Instagram and Pinterest to showcase your products, share home decor tips, and feature customer photos. Use Facebook for promotions, customer engagement, and sharing decor ideas.

Content Marketing and Engagement

  • Interior Design Blog : Share blog posts about decorating tips, trends in home decor, and DIY ideas. This helps establish your brand as a valuable resource for home decoration.
  • Email Newsletters : Keep your customers informed about new arrivals, exclusive offers, and interior design inspirations.
  • Video Content : Create videos that showcase your products in styled settings, provide interior design tips, or feature behind-the-scenes looks at your business.

Experiential and In-Person Engagements

  • Pop-Up Shops and Markets : Set up pop-up shops or booths at local markets, fairs, and events to showcase your products and interact directly with customers.
  • Decor Workshops or Events : Host workshops or events focusing on home decor and interior styling to engage with customers and offer hands-on experiences with your products.

Collaborations and Community

  • Collaborations with Local Artists and Designers : Partner with local artists or designers to offer exclusive, locally made decor items, adding uniqueness to your product range.
  • Community Engagement : Participate in community events, sponsor local activities, or collaborate with home-related businesses to enhance brand visibility and community involvement.

Customer Relationship and Loyalty Programs

  • Loyalty Rewards Program : Implement a program offering discounts or exclusive access to special collections for loyal customers.
  • Referral Incentives : Encourage word-of-mouth marketing by offering incentives for customers who refer friends and family.

Promotions and Advertising

  • Targeted Online Advertising : Use digital advertising platforms like Google Ads, Facebook, and Instagram to target individuals interested in home decoration and interior design.
  • Seasonal and Themed Promotions : Capitalize on holidays, seasons, and special occasions with themed promotions and marketing campaigns.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your home decor meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your home decor business could be: 

  • Sustainable home décor for sustainable living
  • Luxury home décor to upscale your home
  • Stay on the cutting edge with 3D home decor

unique selling proposition

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a home decor business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in home decor for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in home decor. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business. 

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. If you open a store, you’ll need workers to fill various roles. Potential positions for a home decor business would include:

  • Store Clerks – make sales, customer service
  • Buyers – choose items to add to inventory
  • General Manager – scheduling, staff management, ordering, accounting
  • Marketing Lead – SEO strategies, social media, other marketing

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Home Decor Business – Start Making Money!

So many possibilities! A home décor business offers many options. Whether you make your own items or re-sell some curated items online or in-store, there is money to be made in a steadily growing industry that’s approaching $200 billion. 

If you have a great eye for design, and you do some effective marketing to differentiate yourself from the big industry players, you can develop your own client base and grow a successful home decor company. Now that you have fully decorated your business knowledge, you’re ready to build a business plan and be on your way to entrepreneurial success!

  • Home Decor Business FAQs

If you’re successful, it can be very profitable. You can make about a 20% profit margin depending on the items you sell, and your initial investment can be as little as $2,500, so you should have an excellent return on investment.

Home decor typically refers to the elements used to decorate and furnish a home, including furniture, lighting, decorative accessories, wall art, rugs, and window treatments.

Home decor is purchased by a wide range of people, including homeowners, renters, and businesses. However, some demographics that tend to buy home decor more frequently include women, millennials, and high-income earners.

The most popular home decor items vary depending on current trends and styles. However, some perennially popular home decor items include throw pillows, rugs, wall art, lighting fixtures, and decorative accessories such as vases and candleholders.

Yes, it is possible to start a home decor business on the side. Starting a side business can be a great way to test your ideas and see if there is a market for your products or services. You can start by identifying a specific niche within the home decor industry and creating a business plan that outlines your goals, target audience, marketing strategy, and financial projections. 

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  • Decide if the Business Is Right for You
  • Hone Your Idea
  • Brainstorm a Home Decor Business Name
  • Create a Home Decor Business Plan
  • Register Your Business
  • Register for Taxes
  • Fund your Business
  • Apply for Home Decor Business Licenses and Permits
  • Open a Business Bank Account
  • Get Business Insurance
  • Prepare to Launch
  • Build Your Team
  • Run a Home Decor Business - Start Making Money!

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Free PDF Business Plan Templates and Samples

By Joe Weller | September 9, 2020

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We’ve gathered the most useful collection of business plan PDF templates and samples, including options for organizations of any size and type.

On this page, you’ll find free PDF templates for a simple business plan , small business plan , startup business plan , and more.

Simple Business Plan PDF Templates

These simple business plan PDF templates are ready to use and customizable to fit the needs of any organization.

Simple Business Plan Template PDF

Simple Business Plan Template

This template contains a traditional business plan layout to help you map out each aspect, from a company overview to sales projections and a marketing strategy. This template includes a table of contents, as well as space for financing details that startups looking for funding may need to provide. 

Download Simple Business Plan Template - PDF

Lean Business Plan Template PDF

Lean Business Plan Template

This scannable business plan template allows you to easily identify the most important elements of your plan. Use this template to outline key details pertaining to your business and industry, product or service offerings, target customer segments (and channels to reach them), and to identify sources of revenue. There is also space to include key performance metrics and a timeline of activities. 

Download Lean Business Plan Template - PDF

Simple 30-60-90 Day Business Plan Template PDF

Simple 30-60-90 Day Business Plan Template

This template is designed to help you develop and implement a 90-day business plan by breaking it down into manageable chunks of time. Use the space provided to detail your main goals and deliverables for each timeframe, and then add the steps necessary to achieve your objectives. Assign task ownership and enter deadlines to ensure your plan stays on track every step of the way.

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PDF | Smartsheet

One-Page Business Plan PDF Templates

The following single page business plan templates are designed to help you download your key ideas on paper, and can be used to create a pitch document to gain buy-in from partners, investors, and stakeholders.

One-Page Business Plan Template PDF

home decor business plan pdf

Use this one-page template to summarize each aspect of your business concept in a clear and concise manner. Define the who, what, why, and how of your idea, and use the space at the bottom to create a SWOT analysis (strengths, weaknesses, opportunities, and threats) for your business. 

Download One-Page Business Plan Template

If you’re looking for a specific type of analysis, check out our collection of SWOT templates .

One-Page Lean Business Plan PDF

One Page Lean Business Plan Template

This one-page business plan template employs the Lean management concept, and encourages you to focus on the key assumptions of your business idea. A Lean plan is not stagnant, so update it as goals and objectives change — the visual timeline at the bottom is ideal for detailing milestones. 

Download One-Page Lean Business Plan Template - PDF

One-Page 30-60-90 Day Business Plan Template

One Page 30-60-90 Day Business Plan Template

Use this business plan template to identify main goals and outline the necessary activities to achieve those goals in 30, 60, and 90-day increments. Easily customize this template to fit your needs while you track the status of each task and goal to keep your business plan on target. 

Download One-Page 30-60-90 Day Business Plan Template

For additional single page plans, including an example of a one-page business plan , visit " One-Page Business Plan Templates with a Quick How-To Guide ."

Small Business Plan PDF Templates

These business plan templates are useful for small businesses that want to map out a way to meet organizational objectives, including how to structure, operate, and expand their business.

Simple Small Business Plan Template PDF

Simple Small Business Plan Template

A small business can use this template to outline each critical component of a business plan. There is space to provide details about product or service offerings, target audience, customer reach strategy, competitive advantage, and more. Plus, there is space at the bottom of the document to include a SWOT analysis. Once complete, you can use the template as a basis to build out a more elaborate plan. 

Download Simple Small Business Plan Template

Fill-In-the-Blank Small Business Plan Template PDF

Simple Fill In The Blank Business Plan Template

This fill-in-the-blank template walks you through each section of a business plan. Build upon the fill-in-the-blank content provided in each section to add information about your company, business idea, market analysis, implementation plan, timeline of milestones, and much more.

Download Fill-In-the-Blank Small Business Plan Template - PDF

One-Page Small Business Plan Template PDF

One Page Business Plan For Small Business Template

Use this one-page template to create a scannable business plan that highlights the most essential parts of your organization’s strategy. Provide your business overview and management team details at the top, and then outline the target market, market size, competitive offerings, key objectives and success metrics, financial plan, and more.

Download One-Page Business Plan for Small Business - PDF

Startup Business Plan PDF Templates

Startups can use these business plan templates to check the feasibility of their idea, and articulate their vision to potential investors.

Startup Business Plan Template

Startup Business Plan Template

Use this business plan template to organize and prepare each essential component of your startup plan. Outline key details relevant to your concept and organization, including your mission and vision statement, product or services offered, pricing structure, marketing strategy, financial plan, and more.

‌Download Startup Business Plan Template

Sample 30-60-90 Day Business Plan for Startup

Sample 30-60-90 Day Business Plan for Startup

Startups can use this sample 30-60-90 day plan to establish main goals and deliverables spanning a 90-day period. Customize the sample goals, deliverables, and activities provided on this template according to the needs of your business. Then, assign task owners and set due dates to help ensure your 90-day plan stays on track.

‌Download Sample 30-60-90 Day Business Plan for Startup Template 

For additional resources to create your plan, visit “ Free Startup Business Plan Templates and Examples .”

Nonprofit Business Plan PDF Templates

Use these business plan PDF templates to outline your organization’s mission, your plan to make a positive impact in your community, and the steps you will take to achieve your nonprofit’s goals.

Nonprofit Business Plan Template PDF

Fill-in-the-Blank Nonprofit Business Plan Template

Use this customizable PDF template to develop a plan that details your organization’s purpose, objectives, and strategy. This template features a table of contents, with room to include your nonprofit’s mission and vision, key team and board members, program offerings, a market and industry analysis, promotional plan, financial plan, and more. This template also contains a visual timeline to display historic and future milestones.

Download Nonprofit Business Plan Template - PDF

One-Page Business Plan for Nonprofit Organization PDF 

One Page Business Plan for Nonprofit Organizations Template

This one-page plan serves as a good starting point for established and startup nonprofit organizations to jot down their fundamental goals and objectives. This template contains all the essential aspects of a business plan in a concise and scannable format, including the organizational overview, purpose, promotional plan, key objectives and success metrics, fundraising goals, and more.

Download One-Page Business Plan for Nonprofit Organization Template - PDF

Fill-In-the-Blank Business Plan PDF Templates

Use these fill-in-the-blank templates as a foundation for creating a comprehensive roadmap that aligns your business strategy with your marketing, sales, and financial goals.

Simple Fill-In-the-Blank Business Plan PDF

The fill-in-the-blank template contains all the vital parts of a business plan, with sample content that you can customize to fit your needs. There is room to include an executive summary, business description, market analysis, marketing plan, operations plan, financial statements, and more. 

Download Simple Fill-In-the-Blank Business Plan Template - PDF

Lean Fill-In-the-Blank Business Plan PDF

Fill-in-the-Blank Lean  Business Plan Template

This business plan is designed with a Lean approach that encourages you to clarify and communicate your business idea in a clear and concise manner. This single page fill-in-the-blank template includes space to provide details about your management team, the problem you're solving, the solution, target customers, cost structure, and revenue streams. Use the timeline at the bottom to produce a visual illustration of key milestones. 

Download Fill-In-the-Blank Lean Business Plan Template - PDF

For additional resources, take a look at " Free Fill-In-the-Blank Business Plan Templates ."

Sample Business Plan PDF Templates

These sample business plan PDF templates can help you to develop an organized, thorough, and professional business plan.

Business Plan Sample 

Basic Business Plan Sample

This business plan example demonstrates a plan for a fictional food truck company. The sample includes all of the elements in a traditional business plan, which makes it a useful starting point for developing a plan specific to your business needs.

Download Basic Business Plan Sample - PDF

Sample Business Plan Outline Template

Simple Business Plan Outline Template

Use this sample outline as a starting point for your business plan. Shorten or expand the outline depending on your organization’s needs, and use it to develop a table of contents for your finalized plan.

Download Sample Business Plan Outline Template - PDF

Sample Business Financial Plan Template

Business Financial Plan Template

Use this sample template to develop the financial portion of your business plan. The template provides space to include a financial overview, key assumptions, financial indicators, and business ratios. Complete the break-even analysis and add your financial statements to help prove the viability of your organization’s business plan.

Download Business Financial Plan Template

PDF  | Smartsheet

For more free, downloadable templates for all aspects of your business, check out “ Free Business Templates for Organizations of All Sizes .”

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Blog Instamojo

How to sell home decor online and start a successful eCommerce store

  • by Hibathu Naseer
  • January 6, 2022
  • 7 minute read

how to sell home decor online

People want their homes to be a reflection of their personalities. And they will go to any extent to find the perfect items to decorate and furnish their house.

In this blog, you will learn about everything you need to know on how to sell home decor online and start a successful eCommerce business. You’ll learn about challenges to overcome, setting up a home decor business online, and marketing your business.

We have also compiled some popular home decor stores you can take inspiration from.

If you have an eye for detail and an affinity for aesthetics, this is your sign to start the business you’ve always dreamed of!

  • 1 Is home decor a good business? 
  • 2 Current challenges for starting a home decor eCommerce 
  • 3 How to start a successful home decor business online in India  
  • 4 How to create an online store and sell home decor products online
  • 5 Market your home decor business online
  • 6 Top home decor stores on Instamojo to take inspiration from

Is home decor a good business? 

After the pandemic lockdown, more people want to make their living arrangements more liveable and work-friendly. As a result, the demand for home decor products online increased significantly.

A report shows that the home decor market in India will reach $27 billion by 2022. Hence, this is a profitable business to be in right now.

Another benefit of starting a home decor business is its high-profit margin. You can keep your profit margins at least 20-25%. Also, you have a wide variety of niches to choose from when it comes to selling home decor online .

Current challenges for starting a home decor eCommerce 

Here are some challenges faced by home decor businesses online and their solutions.

1. Difficulty in understanding the product

It can be difficult to showcase your products’ quality and other details on a virtual platform, unlike in brick-and-mortar stores. You need to educate online shoppers about your home decor products in the best way possible.

For this, the solution is to how to build customer trust with the best product content:

  • Feature high-quality images or videos that showcase your furniture and home decor products from all angles. Write good product descriptions that clearly state the dimensions, materials, and colour of the items.
  • Encourage your customers to leave product reviews on your website. Also, ask them to include images.

To create an easy shopping experience for your customers, you need to choose an eCommerce platform that understands these needs.

2. Shopping for home decor online doesn’t feel personal

Online shoppers expect to get a personalised shopping experience online.  Many online businesses fail to implement personalisation, which makes them lose out on returning customers. So, you should make your customers feel that their preferences and needs are understood.

  • Use chatbots (chat widgets) on your online store to better understand shoppers and answer their queries quickly.
  • Provide personalised product recommendations throughout the buyer journey. Suggest products that will appeal to each individual shopper based on the items they interact with on your online store.

chatbot on instamojo

These customer engagement features (chat widgets, WhatsApp Bot) are available on Instamojo premium online stores. They act like a virtual sales person for your potential customers.

Get started for free and explore your dream online store !

3. Shipping home decor products

Many online businesses struggle with logistics and eCommerce shipping products. Doing this at scale and then finding a delivery partner for timely deliveries can be time-consuming.

To overcome this challenge, find a suitable shipping partner for your home decor business. On the Instamojo eCommerce platform, you can partner with some of the leading courier services in India.

How to start a successful home decor business online in India  

Here are 5 easy steps to start selling home decor online:

  • Pick a home decor niche
  • Source your products
  • Create an online store to sell home decor
  • Setup social media for your business
  • Market your home decor online

Now that you have decided to start a home decor business online, let’s walk you through the procedure that we’ve seen successful businesses follow:

  • Before starting your business
  • Creating an online home decor store
  • Marketing your online home decor business

Before starting your online home decor store

1. pick your niche.

You have the option to sell different kinds of home decor products online. But we would recommend keeping your efforts streamlined by focusing on one niche. Some of the most popular home decor categories are wall art, lamps, and kitchen utensils.

To find the niche to sell in, identify a category you’re truly passionate about. And, you can always add or change categories to your home decor store as you start to understand consumers, their interests, and what really sells.

2. Source home decor products

You can create your own range of home decor products and sell them online. Other than this, you can source them from manufacturers.

It’s essential to have tie-ups with manufacturers who are adept in manufacturing and supplying specific home decor product lines. As an online business, you should also have reliable local suppliers.

3. Prepare your product visuals

Home decor is a highly visual niche . So, you need to be prepared with high-quality product images. Home decors are very personal and require a lot of effort to be put into visuals and support. You can either hire a photographer for the job or get them done yourself.

sell online

Start an online home decor store 

Selling home decor on your own eCommerce website is the best way to do business in 2022 and beyond. And, it only takes a few minutes to sign up for a free version & create an online store free on Instamojo.

How to create an online store and sell home decor products online

Having a full-fledged eCommerce website will help build trust with your potential customers. You can provide customers with a good shopping experience with high-quality product visuals, personalised shopping, secure payment methods, and more.

Here are some links to get you started:

  • How to set up a free store on Instamojo
  • How to add products on Instamojo online store
  • Sign up for a free online store
  • Top eCommerce website themes for your store

Watch this short video to know more about setting up your free online store :

2. Set up payments modes

Most customers are reluctant to shop in online stores where their preferred payment modes are not available. So, make sure that your online store offers a broad set of options – UPI, bank transfer, credit and debit cards, and cash-on-delivery.

Here are some resources to get you started:

  • How to use Smart Links custom fields and discount codes for sellers
  • The importance of offering cash on delivery on Instamojo online store

3. Partner with delivery service providers

Packaging and shipping are some of the most challenging aspects of the home decor business. Having a reliable shipping partner will take off much of the burden. Here are some resources for eCommerce shipping:

  • Shipping guide for eCommerce businesses in India: the complete guide
  • Top 5 affordable shipping service providers in India

Market your home decor business online

1. set up social media handles.

Once your online store is live, it’s time to put yourself out there and the best way to do it is social media.

Instagram, Facebook, and Pinterest are the best platforms to market home decor products. Here are some resources that can help you with setting up and growing your business on social media.

  • How to set up social media for small businesses – A complete guide 
  • Top 5 social media analytics tools for small businesses
  • How to sell on Pinterest – tips and guides 

2. Optimise for search engines

Bring increased traffic to your online store by targeting the right keywords and optimising your product pages, product descriptions, and images to rank for the high intent searches.

Here are some resources to help you get started with SEO for your eCommerce store:

  • How to use the power of SEO to drive traffic to your store
  • How to optimise images for SEO on your online store

Top home decor stores on Instamojo to take inspiration from

To inspire you to turn your home decor business idea into reality, here are a few amazing online stores on Instamojo!

1. The KeyBunch

An online store that sells vintage items such as candlesticks, sign boards, coasters, and other home decor items.

Visit their store here .

online home decor store inspiration

2. Little Heaven Decor

Little Heaven Decor sells pieces of home fabrics such as bedsheets and kitchen towels that are as adorable as their brand name.

Check out their store here.

little heaven decor

3. The Upper Room

The Upper Room store is an oasis of colours, patterns, and textures — a leading brand in selling home textile products. They have a collection of uniquely handcrafted products.

upper room

4. Reaa Home Planner

A full fledged home decor brand, Reaa Home Planner offers interior designing services along with selling decoration items.

Check out their store here .

how to sell home decor online

It’s the right time to start a home decor business online!

Now that you know all the details of how to sell home decor online, it’s time to take action! Follow the above steps to stay ahead of the game and start a successful home decor business online.

If you are someone who is selling home decor on social media platforms, the next step is to start selling on your online store. You need a platform where you can make customers understand the quality of your products and give them a personalised shopping experience.

With Instamojo, starting an eCommerce store and managing it is easy!

Get started for free today and take your first step in following your passion! 

Create your own home decor store

  • create online store free
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Hibathu Naseer

Outstanding blog.

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  • Business Templates
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FREE 13+ Interior Design Business Plan Templates in PDF | MS Word

 interior design business plan template pdf word

What is interior design? Interior design is the art of decorating and designing the inner parts of a room, house, or building. People who do interior design work are called interior designers. Through their different unique ideas and designs, interior designers are able to make a space aesthetically pleasing and healthy. You may also see business plan templates.

Interior Design Business Plan Template Pdf Word

20+ project plan template, 15+ sample interior design proposal template, 12+ car wash business plan template.

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Interior Design Business Plan Template

interior design business plan template

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Size: A4, US

Home Interior Design Business Plan

home interior design business plan

Sample Interior Design Business Plan Template

sample interior design business plan template 03

The demand for interior designs has led to the steady popularity in the business industry. There are more interior design businesses in the present and more people are willing to pay for their services to get their spaces beautified. And just like any other businesses, it requires an interior design business plan. We have here business plan templates that you may use as a reference as we get to know what an interior design business plan is.

Printable Sample Interior Business Plan Template

printable sample interior business plan template

Size: 157 KB

Home Interior Design Business Plan Sample

home interior design business plan sample 004

Size: 12 MB

What Is an Interior Design Business Plan?

An interior design business plan is a written formal document that details everything that there is to know and do about starting a new interior design business or planning for an existing interior design business. The business plan mainly focuses on the preparation and planning of the business before it actually starts to operate.

A well-written business plan is beneficial to the business as it serves as its manual or guide on how the business should be started and managed. It also guides the business to the direction where it is most favorable or the direction that will lead to its success. you may also see  Interior Design Contract Templates

Furniture and Interior Design Business Plan Sample

furniture and interior design business plan sample

Size: 958 KB

Interior Business Plan Template

interior business plan template

Size: 98 KB

Free Interior Business Plan Template

free interior business plan template

Size: 14 KB

Not all businesses end up successful. Although there are some businesses that proper and continue to exist for a very long time or for a lifetime, there are also businesses that end up getting in debt or end up closing.

This is due to the lack of proper planning and preparation which can be easily done with a small business plan . To learn more about business plans you can check out other related articles on our website, like  Sample Marketing Business Plan Templates and  Farm Business Plan Template .

Interior Business Plan Template Sample

interior business plan template sample

Blank Business Plan Template

blank business plan template

Size: 226 KB

Business Plan Sample Template

business plan sample template 1

Size: 10 KB

Simple Business Plan Template

simple business plan template

Size: 33 KB

Sample Business Plan Template

sample business plan template 01

Size: 30 KB

Startup Business Plan Template

startup business plan template

Size: 25 KB

What Are the Essential Elements of Business Plan?

A business plan can be proven effective and useful if it includes all the necessary essential elements that make up a business plan. A business plan is said to be well-written and complete if it includes all these essential elements.

1. Executive Summary

The executive summary is a brief overview of the entire business plan and must be at least one page long. It is the very first part that you will see in a business plan, but since it is a summary of everything about the business plan, it is best to write the executive summary last. It must also be written in a way that will attract or convince readers to read the entire contents of the sample business plan .

2. Company Description

As its name implies, the company description part of your business plan provides detailed information about the company and what it does as a business. This is where you go into details about the products and services that your company or business offers, what types of customers you serve, why customers should do business with you, what advantages you have over your competitors, and many more. You may also see  Interior Design Proposal Templates

3. Market Analysis

If you want to succeed in the industry where your business belongs, you need to have an in-depth understanding of how it works. Included in the market analysis section of your business plan are details about your target market, like their demographics, size, growth rate, etc. You may also like  Business Proposal Templates

4. Competitive Analysis

Every business will always have a competition, and all businesses must observe and analyze their competitors, not to ruin them but to gain a competitive advantage over them and stand out from the rest. It is important that you include this in your business plan and plans your actions or steps ahead so that your business will not get left behind when your business actually starts to operate. You may also see  Retail Business Plan Templates

5. Management & Operations

This is the section of your business plan where you put your organizational chart and identify the key individuals of the business as well as their corresponding roles and responsibilities. This is also where you need to provide details about the organizational structure of the business, ownership information, and the number of employees your business has. You may also see  Project Plan Templates

6. Marketing and Sales

Here you will need to explain how you are going to attract customers and what strategies you will be using to effectively sell the products and services that your business offers. You may also like  Marketing Business Plan Templates

7. Financial Summary

The last part of your business plan is the financial summary. In this section, the financial health and status of your business is provided including income statements, cash flows, and other financial sheets. Businesses that seek funding from investors must have this section written as detailed as possible. It must also be current and accurate as this is a critical part that investors would want to check out to use as basis for making their final decision. You may also see  Construction Business Plan Templates

Having knowledge of the essential elements of a business plan not only helps you further understand what it is but it also guides you with what you need to put and look for in a business plan, whether you are writing one or reviewing one. Other related articles you may find useful include  Business Plan Profit and Loss Template and  Coffee Shop Business Plan Template .

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  • Home Décor Products Manufacturer Business Plan

Home Décor Products Manufacturer

BUSINESS PLAN

BURTON DECOR, INC.

14275 Washington Avenue Skokie, Illinois 60077

Burton Décor manufactures high-quality specialty home décor products for the mass market, specifically items designed for the Christmas season. This plan raised more than $1 million in capital for the company's owners.

DESCRIPTION OF BUSINESS

Products & services offered, market analysis, location of business, competition, application & expected effect of investment, financial data.

Burton Décor, Inc., designs and develops specialty Christmas and soft (also known as "cut and sewn") home décor products manufactured in India. India's extraordinary fabrics and handiwork are not readily available in other countries and stand out from the typical mass-produced product currently available. These unique, value-priced products will be targeted to U.S.-based mass merchants such as Sears, Target, and Wal-Mart. Specifically, Burton Décor will bring a high-end look to the mass market.

Burton Décor aims to offer unusual, unique specialty items at competitive prices. Beautiful handiwork such as beading, embroidery, and weaving will help merchants stand out from their competitors and draw in shoppers. Although Burton Décor will offer narrow product lines as compared to their competitors, the company will produce in high volumes to meet the demands of mass merchants. In addition, Burton Décor can customize products to suit individual buyers' tastes.

John Smith, the man behind Burton Décor, has the product development experience, design talent, and established relationships necessary to meet those demands. Along with his 20 years of retailing and interior design experience, John spent the last two-and-a-half years working for Tuppi, one of the nation's leading gift product importers to mass merchants. His sourcing, product development, and production experience, in combination with his design talent and people skills, has allowed him to develop the know-how and relationships necessary to understand and meet the needs of mass merchants.

Business Model

As a direct importer, Burton Décor products will be shipped from the factory directly to the retailer. As such, Burton Décor will carry no inventory, with production beginning only when a purchase order is received. Payments between retailers and Burton Décor, and between Burton Décor and its factories will be made by letter-of-credit, resulting in minimal financial exposure.

Burton Décor develops the designs, samples, and packaging for specialty Christmas and soft home décor products manufactured in India. Its product lines are meant to broaden the offerings of mass merchants, with unique handiwork such as beading, embroidery, and weaving in beautiful silks, velvets, and pashmina. In order for buyers to review the product lines, samples of each product are displayed in Burton Décor's Chicago showroom.

Product Lines

Burton Décor's product lines will be narrow and focused on the unique fabrics, colors, and beautiful handiwork typical of India. The lines will have a specific point of view and, as such, will not try to be all things to all buyers. The product categories for which Burton Décor will design products are:

Home Décor Products Manufacturer

Burton Décor's philosophy is that it is possible to feature well-designed, fashion-forward, high-quality products at competitive prices. The four cornerstones of that philosophy are:

  • Design: Well-designed, fashion-forward products for the mass market
  • Quality: High-quality products produced in a quality-controlled environment
  • Value: Offering well-designed, quality products at affordable prices
  • Relationships: Listening to our buyers and building trusting relationships with them

The product lines will feature a distinct point of view, yet products can be customized to suit individual buyers' tastes. Burton Décor will work closely with buyers to build their businesses because they want the merchants to succeed. Burton Décor does that by listening and responding to their needs. As a mass merchant buyer recently told John Smith, "You're the only person I trust because you're the only one who doesn't try to sell me something I don't want or need." This sentiment is the underpinning of Burton Décor's philosophy.

Mass merchants want high-quality, fashion-forward products at competitive prices because they want to offer their customers a high-end look at an affordable price. India is an untapped geographic resource.

In the current marketplace, China is India's biggest competitor. While China offers good quality and great prices, the level of creativity and craftsmanship is limited. China's strength is in setting up factories to do mass runs. India offers great creativity, great quality, and great prices. The drawback has been their inability to offer mass merchants a way to buy consistently well-designed and well-produced products in one centralized location.

Burton Décor offers mass merchants the opportunity to draw in customers with products heretofore unavailable at these price points. Mass merchants can:

  • Bring high-end looks to the mass market, by offering their customers well-designed, fashion-forward products at affordable prices
  • Buy unique products with unusual handiwork at competitive prices
  • Round out and add depth to their departments
  • Stand out from their competitors
  • Buy products of India in a centralized buying location
  • Enjoy the security of knowing they are buying well-designed, quality-controlled products
  • Benefit from Burton Décor's retailing, design, and production experience

Burton Décor products are developed within the context of mass merchant price points. Burton Décor wants to provide great design and great quality at a great value. The standard industry markup on Christmas and home décor products is 30 to 40 percent. Burton Décor is structured in such a way that overhead is kept low and the markup is 25 percent. Burton Décor is able to do this because of two cost-effective differences from their competitors: (i) no warehouse and (ii) no inventory.

Burton Décor will be working with a new, Wal-Mart-approved factory located in India not far from Mumbai (Bombay). This factory will be the primary production facility for Burton Décor products. The factory owner, Bob Davidson, is a local businessman who has had a close working relationship with John Smith for several years and will also act as the agent for Burton Décor.

The production cycle will be as follows:

  • Once the factory receives an order, the factory, in turn, places the orders for fabric—which takes 7 to 10 days, depending on the specific fabric used.
  • The fabric is then delivered on the 15th day from the order date, at which point the fabric is cut. Overall, the first 30 days from the order date go into procuring fabric and cutting.
  • Once the pieces are cut, they are sent for embroidery and stitching, and then sent back to the factory for final production.
  • Fabric and work quality are inspected at each stage. Sign-off samples for Burton Décor will be used for quality control.
  • Orders will require a lead time of 90 to 150 days, depending on the work and quantities involved.
  • The ICD ("Inland Container Depot") is 2 to 3 kilometers away from the factory site. Containers will be packed in the factory.
  • All customs clearance formalities will be handled at the ICD, after which the containers will be sealed for inland transportation to the port in Mumbai. From there it will be shipped to the customer. Payment will be made by letter-of-credit.
  • Transit time to the East Coast is 30 days and to the West Coast is 45 days.

Burton Décor will enter the marketplace by developing its Christmas line for the Christmas 2003 buying season, as outlined below. Buyers typically fly to Hong Kong in October and/or January in order to buy their overseas merchandise for the Christmas season at least one year in advance.

  • Spring/Summer 2002: John Smith will design the Burton Décor Christmas line
  • September 2002: Burton Décor's Chicago showroom will have samples and begin bringing in buyers to introduce them to the company and the Christmas line
"Today, Christmas is part of the gift industry, part of the home décor industry and even part of the fashion industry. Christmas décor...is being reinterpreted through the same prisms of style and culture and self-expression that influence other consumer categories." —Mary Ford, Editor, Selling Christmas Décorations, March 2002

Burton Décor's target markets are the Christmas and home décor departments of mass merchants. The synergy between the two is clear, as illustrated in the quote above. By targeting both markets, Burton Décor can reduce the seasonal earnings fluctuations typical of Christmas-only vendors. Both markets are fashion-driven, with buyers always looking for the next new thing—in terms of design and resources.

Today's mass merchants want to offer broader looks in their Christmas and home décor departments. They want to offer products and looks from more than one country in order to:

  • Round out product selection by offering unusual, unique specialty items
  • Add eye-catching products to draw in customers
  • Appeal to the growing ethnic diversity of their customer base
  • Stand out from competitors

Consumer tastes are becoming more sophisticated as their exposure to global influences increases. Television shows such as "Martha Stewart," "Oprah," and those on HGTV have broadened the horizons of consumers. Add to this the "bargain as fashion" message of Target stores, and you've got consumers who want high style, but at an affordable price.

The country's trend toward cocooning at home has increased the demand for decorative home accessories in rich colors and fabrics. Combine this trend with the more cost-conscious consumer and you've got the mass merchant customer who wants it all: high style at an affordable price. Buyers understand these trends and want to exploit them. They understand that accessories can change the look of a room without refurnishing—tapping into the consumer's fashion and budget demands.

Current trends demonstrate another important factor at work in the marketplace: Consumers are more ethnically diverse than ever, and they want to embrace their cultural differences. Mass merchants want sources that can tap into the ethnic diversity that is their customer base. Buyers are looking for new resources with fresh design ideas, and India is an untapped geographic resource.

Retail merchants and their customers are increasingly demanding the handcrafted, detailed look typical of India's artisans. Trend-setting merchants such as Pottery Barn, Crate & Barrel, and Z Gallerie have been sourcing India for the last several years. They manufacture and import their own products from their own India-based resources. These retailers have invested in their own product development departments, which allows them to successfully source new markets.

Mass merchants, however, are not able to dedicate such substantial financial resources and still maintain their low price points. They want to follow the trends and offer their customers similar looks, but at affordable prices. However, India does not have the infrastructure in place to service them. Mass merchants want to find resources ready to produce high volumes of desired items upon demand.

Below is a brief geographic analysis of the Christmas and home décor marketplace, specifically focusing on countries manufacturing cut and sewn products.

  • Philippines: Although they do intricate, incredibly beautiful work, their prices are very high. In addition, their manufacturing is set up as a cottage industry and, as such, is too small to handle the volume mass merchants demand.
  • China: The quality, details, and types of materials used are good, not great. They do not have the creativity and handiwork abilities that are available in India. China's strength is in setting up factories to do mass production runs. Although the prices for their product have been very low, that pricing strategy has come under increasing pressure as the Chinese government cracks down on manufacturers' "flexible" accounting, resulting in higher tax payments.
  • India: They are known for their fabrics (silks, velvets, pashmina), and their handiwork (beading, embroidery, weaving). Currently, India has no infrastructure for large production runs. The Wal-Marts of the world don't have the time, design capabilities, know-how or ability to control the process from afar—it's too much of a headache for them to go to India, and they do not have the contacts necessary to make it work.

Burton Decor's Comparative Advantage

India is a difficult country to work with due to cultural and legal issues. There are no copyright laws in India, and while agents and manufacturers will promise almost anything, having them deliver on those promises is anything but reliable. The key to success in India is finding a resource that understands design and production requirements while also being trustworthy and reliable—difficult qualities to find in India. John Smith has developed just such a relationship, which is the key to Burton Décor's ability to service U.S.-based mass merchants. Burton Décor's agent and primary manufacturer, Bob Davidson, states, "Remember, this is India and there are no copyright laws. Business is based purely on trust, which is a very rare commodity."

Sales Strategy

Burton Décor will establish itself by building on the strong buyer relationships John Smith developed during his years at Tuppi. Based on those relationships, Burton Décor can arrange meetings with the Christmas buyers, and then leverage those relationships to arrange for meetings with home décor buyers.

The key to Burton Décor's sales strategy is showing the product lines to the right buyers. Burton Décor understands that cross-selling among the departments within a store is an overlooked, yet strategic advantage in retailing. Cross-selling will set Burton Décor apart from their competition. For example, gift bags and wire-edged ribbon are product categories sold in both Christmas and stationery/gift departments. Each department has separate buyers with different budgets. Typically, vendors only target one department's buyer, thereby missing out on sales opportunities within the same organization. Burton Décor will not let those strategic opportunities slip away.

Most vendors participate in trade shows, which can cost $10,000 per show. However, these shows target smaller retailers. Since Burton Décor is targeting mass merchants, the company can use their marketing dollars more effectively by flying in buyers who might not otherwise come to Chicago. It is important to note that Burton Décor will attend trade shows in order to keep abreast of the trends and competitors' product lines.

Target Markets

Burton Décor is specifically targeting high-volume retailers serving the value-conscious consumer. These retailers fall into numerous categories. Several of these categories, along with examples of specific retailers, are listed below.

  • Mass Merchants: Wal-Mart, Target, Sears
  • Catalogue: Spiegel, Lillian Vernon, Fingerhut
  • Craft/Garden: Frank's Nursery, Garden Ridge, Michael's
  • Drug/Hardware: Walgreen's, Rite Aid, Ace Hardware
  • Warehouse: Sam's Club, Lowe's, Costco
  • Bed/Bath: Linens 'n Things, Bed Bath & Beyond

Burton Décor will lease 3,000 square feet of office and showroom space (2,000 for office and 1,000 for showroom). Rent is approximately $22/square feet annually, totaling $66,000/year or $5,500/month. For budgeting purposes Burton Décor is assuming an annual increase of 3 to 5 percent.

The space will be located in or near the Chicago suburbs of Lincolnwood, Skokie, or Des Plaines because they are conveniently located near O'Hare Airport and the rent is lower than in Chicago.

There are literally thousands of design and manufacturing companies in the Christmas and home décor marketplace. Typically, competitors fall into one of two categories: (1) The vast majority offer a product assortment that is too broad and lacks an appealing point of view or look. The price point may be attractive, but the product is mundane and the same as what their competitors are showing, or (2) the products are designed well and offer an exciting look, but the price point is too high.

As a result, the competition for mass merchant buying dollars is not especially competitive. Vendors consistently target the high-end buyers at merchants such as department stores and specialty stores. No one is thinking both "fashion forward" and "volume," which leaves the market open for Burton Décor. An analysis of Burton Décor's four nearest competitors follows.

Competitor #1

Who they are.

Competitor #1 designs and develops Christmas-related products. They have direct import and domestic product lines. The company is based in Illinois and is privately owned by Loonis-X Corp. Competitor #1 has been in business for more than 20 years. Estimated annual revenues are $300 million.

Product categories include: lights, trees, mouth-blown glass ornaments, table linens, animation, tree skirts, stockings, ribbon and bows, wreaths and garland, and bead garland. The company imports primarily from China. Competitor #1 offers a domestic line, requiring them to warehouse inventory domestically. This allows them to sell to smaller shops and to sell smaller quantities to customers buying less than a container-load.

  • Marketing/merchandising. They put together beautiful, eye-catching presentations in showrooms located at prime addresses. They display the showroom like a high-end department store; i.e., products are not just thrown on a shelf. Detail-oriented.
  • Offer better product for the price. Competitor #1 spots high-end trends and develops knock-offs at affordable prices.
  • If one category is not selling well in a particular year, Competitor #1 will adapt quickly by jumping into another category to make up the dollars lost for that year.
  • They do not build their business from year to year. When a particular category starts doing well for a competitor, Competitor #1 changes direction and chases the business in that same category while ignoring the categories that they had been building. As in a plate spinning circus act, they let plates drop as they run to spin others.
  • Inventory risk—by offering a domestic line and warehousing the product.

What Was Learned from Watching Their Operation

  • The importance of presentation
  • Offer a good product for the price
  • Always demand more from the manufacturer—design for the high-end first and adjust manufacturing and design details affecting the price at a later stage.

Competitor #2

Competitor #2 designs and manufactures holiday items for six holidays: Halloween, Thanksgiving, Christmas, St. Patrick's Day, Easter, and July Fourth. They have direct import and domestic product lines. The company is based in New York and is privately owned by Alan Brown, an Israeli-born engineer. Competitor #2 has been in business for approximately 15 years. Estimated annual revenues are $100 million.

Competitor #2 designs their own fabrics. They focus primarily on wire-edged ribbons and bows, although their product line also includes glass ball ornaments. Competitor #2 has begun to enter the home décor market with products using fabric matching their ribbon, e.g., table linens, table runners, and gift bags. The company manufactures its products in Guatemala—they are the largest employer there. Until Christmas 2002, Competitor #2 has been Kmart's largest Christmas supplier (now it will be Martha Stewart).

  • Lowest price point on ribbon (because they are the manufacturer).
  • Owner is very analytical; he's very good at analyzing his business.
  • Year to year he knows what items are selling and helps buyers choose their assortments.
  • Poor people skills; inflexible and unaccommodating with buyers, resulting in lost business.
  • Not creative. They offer the same looks year after year, with very similar fabrics. They do not develop "looks," so what they offer looks mundane, boring. Alan thinks the fabrics make a look when, in fact, it's the application that makes a look.

Competitor #2 controls the design and manufacture process from beginning to end, so they are able to control costs. (However, John can accomplish the same thing with close working relationships.)

Competitor #3

Competitor #3 designs and manufactures Christmas and holiday items for Halloween, Christmas, Valentine's, and Easter as well as home textile products. The family-owned company is based in Mumbai, India, and has an office in New Jersey. It has been exporting its products for more than 15 years. Exports are estimated to be $20 million annually.

Product categories include: tree skirts, stockings, mantel scarves, table linens, gift bags, napkin rings, kitchen textiles, bath, bedding, and window accessories. They have been building their Christmas and holiday business for the last three years.

  • Nice looking designs, but not fine-tuned for the western market (gaudy, overdone).
  • Offices, showroom, and development room in India were very impressive.
  • Very impressive operation; very organized and methodical, clean (rare in India), like offices in the U.S. Their research department has everything categorized and filed. Workflow, paperwork is very organized. The division of responsibilities is very thorough so nothing falls through the cracks.
  • Their factory is primitive, set up as a cottage industry
  • No quality control
  • Poor marketing skills

Competitor #4

Competitor #4 is the Christmas products division of a metallic yarn manufacturer based in Mumbai, India. Competitor #4 designs and manufactures Christmas-related products. The parent company has been in business since 1962, while Competitor #4 has been in business since 1999. Exports are estimated to be $2 million annually.

Product categories include: tree skirts, stockings, wire-edged ribbon, table linens, table runners, and gift bags.

  • Incredible design talent for fabrics; great creativity.
  • They have very good quality and nicely designed products, based on their samples; however, it's hard to tell whether that can be maintained in production.
  • They have fabulous raw materials and know-how of handiwork techniques.
  • Their designs are not fully developed; they don't fully understand design concepts (creating a "look") or scale. They have no idea how to put their creativity to its best use.
  • They do not have enough business to sustain a factory, so they outsource by using a cottage industry setup.
  • Poor marketing skills.

They have an operation with wonderful potential. Burton Décor would like to take them over.

History of Principals

John Smith has put together a team with years of industry-specific experience and demonstrated talent. The professionals listed below cover the four functional areas critical to Burton Décor's success:

design and product development management manufacturing sales John Smith —John is a seasoned design and retailing professional with more than 20 years of experience. His educational background includes degrees in both retail management and interior design. His professional experience includes: Product development for Tuppi, including design, international sourcing and production Department store and specialty store retailing for 10 years Interior design for 10 years John's product development experience encompasses the process from start to finish, i.e., from putting the design on paper to production to packaging to putting it on a retailer's shelves. In addition, he has successfully managed a staff of 10 and regularly managed multiple time-sensitive projects simultaneously. Bob Davidson —Bob and his family own and run three factories in Nepal and India. Their manufacturing experience dates back to 1974. Bob has substantial experience in managing both the manufacturing and exporting functions of their businesses in India, most recently for Octagon Textile Industries. Prior to that he managed production and quality control for a division of Mip Plastic Industries. Bob's factories have been exporting garments and textiles to the U.S. since 1989. They provide in-house product development and research facilities for their production and marketing, and they maintain consistent quality control and sound financial practices. Their factories are experienced in working with top U.S. retailers such as Wal-Mart and Kmart. All their factories meet international standards and U.S. regulations. Bob has a bachelor's in Commerce degree from Bombay University, and spent an additional year studying Business Administration at the International University of America in San Francisco, California. Jane Doe —Jane has more than 15 years of product design, graphic arts, and supervisory experience. Specifically, she has 15 years of computer design experience; 20 years of traditional design, rendering, and illustration experience; and 15 years of experience working with overseas vendors in Europe, Asia, and India in producing graphics and products. Jane has built in-house product design and graphics departments for three companies. In addition, her professional experience includes: Product Design: Giftware/collectibles/decorative, tins/bath and body/pet; gifts/decorative design/seasonal and holiday items/leather (and fabric) goods, e.g., business cases, men's accessories, luggage, and gift items. Graphic Design: Graphics incorporated with product, package design, decorative design, catalog, and photography. Concept, design, and production for products, packaging, and graphics. Management: Supervised designers, retouchers, and freelancers. Managed employees, workflow, clients, and budgets for graphics/multimedia studios consisting of 12-15 employees.

Management Team

John Smith, CEO —John will oversee the sales and design functions of Burton Décor. He will work directly with the factories and the agent in India by overseeing their performance and negotiating the first cost of the products. Until a CFO can be hired, John will also handle all financial issues. Salary: $130,000.

Bob Davidson, Agent —Bob will be Burton Décor's primary contact and agent in India, and Bob's factory will be the primary manufacturer of Burton Décor products. He will oversee production at his factory and the outside factories by monitoring and coordinating production, quality control, packaging, customs paperwork, and transportation until the release of goods at the port. Salary: Compensation will be included in Burton Décor's cost of goods sold (first cost).

Jane Doe, Vice President of Design —Jane will be responsible for all graphic design and product development, i.e., packaging, presentations to buyers, as well as the Burton Décor showroom display. Jane will handle the product lines from conception through packaging, which includes developing themes and keeping abreast of marketplace trends. Long-term, Jane will build and manage the art department, including in-house and freelance artists. Salary: $80,000 + bonus.

Elizabeth Brown, Vice President of Sales: Elizabeth will be responsible for developing the marketing plan to meet sales objectives, as well as establishing/maintaining customer relationships. Elizabeth will make initial contact with buyers, handle day-to-day contact and follow-up with buyers, i.e., she will manage the process from the time the order is placed to the time the merchandise is off the retailer's shelves. Long-term, Elizabeth will build and manage the sales department, including outside sales reps. Salary: $80,000 + bonus.

Additional Personnel

Office Manager: Reports to VP of Design. Responsible for day-to-day office operations; will assist CEO and VP of Design. Must be highly organized and have the ability to multi-task. Attention to detail a must. Salary: $50,000.

Graphic Designer: Reports to VP of Design. Responsible for designing packaging for each product as well as for private label merchandise. Must be fluent in design software for the Mac, excel in conceptual design, and have experience in marketing trends and working with overseas vendors. Experience also required in working on product/decorative design and working with printers and production files. Salary: $40,000.

Artist: Reports to VP of Design. Responsible for conceiving, designing, and producing artwork for home décor and Christmas product lines. Must be fluent in design software for the Mac, excel in conceptual design, and have experience in marketing trends and working with overseas vendors. Experience also required in working on product/decorative design and working with printers and production files. Salary: $30,000.

Import Manager: Reports to VP of Sales. Responsible for building product database, putting together price quotes for buyers, issuing purchase orders and following through on sales, delivery, and payment approval. Must be highly organized and have the ability to multi-task. Attention to detail a must. Salary: $30,000.

Sales Assistant: Reports to VP of Sales. Responsible for supporting Sales Department. Must be highly organized and have the ability to multi-task. Attention to detail a must. Salary: $28,000.

Order Expediter: Reports to Import Manager. Responsible for assisting in putting together price quotes for buyers, issuing purchase orders, and following through on sales and delivery. Must be highly organized and have the ability to multi-task. Attention to detail a must. Salary: $25,000.

Staffing Plan

Home Décor Products Manufacturer

Organization Chart

CEO/President

VP of Design VP of Sales

Office Manager Artist

Graphic Designer Import Manager Sales Assistant Sales Rep

Order Expediter

Home Décor Products Manufacturer

Human Resources Administration

Burton Décor will outsource the human resources administration function to a Professional Employer Organization ("PEO"). A PEO provides cost effective HR management and administration, and takes on the related employment risks of its clients. Through an operating agreement, the PEO and Burton Décor will create a co-employer relationship between them in reference to their co-employees. Thus, the PEO establishes itself as the "employer of record," responsible for administrative functions associated with the employment of co-employees, while the client is established as the "workplace employer," responsible for directing the manner in which co-employees deliver their work efforts, as well as hiring, disciplining, compensating, reviewing, and terminating such co-employees. More specifically, the PEO will:

  • Pay wages, employment taxes, and benefits expenses out of its own accounts
  • Report, collect, and deposit employment taxes with State and Federal authorities

In addition, the PEO will act as negotiating agent for Burton Décor in order to secure an attractive employee benefit plan, including some or all of the following benefits: medical, dental, life and long-term disability insurance, 401(k) plan, Section 125 cafeteria plan, and employee assistance plan.

By using a PEO, growing companies such as Burton Décor are able to capitalize on economies-of-scale and offer their employees significantly better benefits—typically equal to those of larger corporations, but at a price a smaller firm can afford. This is particularly important when trying to attract the most qualified and talented employees.

The end result is that a PEO removes the majority of employer-related paperwork from Burton Décor's desk, eliminates the time it takes to shop around for benefits packages, and helps reduce Burton Décor's liabilities by assuming and/or sharing some of the liabilities of being an employer.

Burton Décor is seeking a $650,000 loan and a $650,000 credit line. The funds will allow Burton Décor to:

  • Build its management team and personnel infrastructure
  • Design, sell, and produce its products for Burton Décor's first selling season
  • Purchase the required computer hardware, software, and office equipment
  • Set up its office and showroom space

The loan will allow Burton Décor to establish itself in its first selling season. Burton Décor is paid only when the merchant takes possession of the goods at the port in India. The sales cycle—the time from product design to the merchant taking possession—can be as long as twelve months. As such, the loan will enable Burton Décor to make the necessary up-front investment. The credit line will allow Burton Décor to pay off the loan and accommodate the sales cycle on a ongoing basis. Cash flow projections illustrate that the loan is scheduled to be repaid in the third quarter of Year 3.

Sources and Uses of Funding

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Home Accessories and Gifts Business Plan

Start your own home accessories and gifts business plan

The Scarlet Tassel

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

One of the nation’s top interior designers, Dan Carithers of Atlanta, said, “If I had $500,000 to spend on a room, I’d spend $400,000 of it on the accessories . . . A sofa’s a sofa, a rug a rug, but accessories are how you can sense what a person is all about. They are the most important ingredient in decorating . . . It’s the accessories that create the “I’m home” feeling.” Source: Atlanta Magazine Shops Fall 2001

The Scarlet Tassel is a start-up retail store offering eclectic home accessories and gifts to consumers wanting to create a personalized home environment – that “I’m home” feeling. The Scarlet Tassel is planning to locate in the Sandy Springs/Lower Roswell area of Atlanta, Georgia catering to middle- and upper-class consumers who look beyond the national home accessory and gift chain stores for those expressions of individual personality and style. In addition to the offering of unique products, unparallel customer service, quality, value will complement the customer experience. In Year Two, The Scarlet Tassel will develop its online presence at www.thescarlettassel.com. In Year Three, The Scarlet Tassel will move to e-commerce, shipping directly to its web customers. The Web will be an extension of the store concept – a virtual business card and portfolio for the company – its online “home.”

Growth plans for The Scarlet Tassel include an expectation of quite comfortable total revenue Year One. Year Two will develop services and marketing plans, in addition to the Web presence, so that a 30% growth rate is realized. Year Three expectations of further growth with development of e-commerce and continued awareness by the consumer are set at approximately 20%. It is the feeling of both owners that these expectations are realistic and attainable.

Deirdre Staab and Shelly Dozier-Mckee, bring a combined 36 years of experience to this venture with expertise that crosses merchandising, marketing, purchasing, forecasting, operations and direct import sourcing. The Scarlet Tassel, Inc. is an S corporation. Deirdre and Shelly each have a 50% share of the business and equity investment. Additional funding is needed for asset purchases and start-up costs to make The Scarlet Tassel a reality.

Home accessories and gifts business plan, executive summary chart image

1.1 Mission

Company Mission A celebration of the home, The Scarlet Tassel is a store for the quality- and style-conscious consumer. Providing unique, eclectic and affordable home accents and gifts, we intend to generate a fair return to finance continued growth and expanded community involvement.

Customer Creed The Scarlet Tassel will inform, inspire and show you, our customer, how to create an expression of yourself within your home. Through custom services, smart pricing and a sense of trust, it is our desire that you will look to us as your valued resource to achieve a personalized home environment.

Employee Pledge Our employees will enjoy a friendly, fair, and creative work environment, which respects diversity, new ideas, and hard work.

1.2 Keys to Success

The primary keys to success for the company will be based on the following factors:

  • SELL products that provide quality and value to the consumer while meeting needs for an expression of personal style.
  • PROVIDE custom services such as in-store workshops and personalized promotions so that customers are retained to generate repeat purchases and make referrals.
  • COMMUNICATE with our customer base through print magazine advertising, postcard mailings and via our website.
  • ESTABLISH a visible, accessible and welcoming storefront and website to position us as the premier choice for our products and services within the marketplace and beyond.
  • ENSURE through daily management practices the values of The Scarlet Tassel’s mission are followed so that a successful and growth-oriented business is developed and maintained.

1.3 Objectives

  • Maintain a direct cost of sales of 45% or less, and gross margin of 55% or greater.
  • Maintain operating expenses to equal or less than that of plan.
  • Generate total revenue of $626,000 in Year One.
  • Develop an Internet presence in Year Two.
  • Take Internet presence to e-commerce in Year Three.
  • Realize an annual growth rate of approximately 30% in Year Two.
  • Realize an annual growth rate of approximately 20% in Year Three.

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Company summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">.

Privately owned and operated by Deirdre Staab and Shelly Dozier-Mckee, The Scarlet Tassel is a newly established retail store offering stylish, eclectic and affordable home accessories and gifts to consumers wanting to create a personalized home environment.

Located in the Sandy Springs/Lower Roswell area of Atlanta, Georgia, The Scarlet Tassel will cater to middle- and upper-class consumers who look beyond the national chain stores for home accessories and gifts.

After having established a successful and growth-oriented business, we look to expand our business to e-commerce during our third year of operation. This additional business channel will allow us to reach a broader customer base as well as expand the level of customer service and personalized services we are able to offer the consumer.

STORE LOCATION The Scarlet Tassel will be located in the Sandy Springs/Lower Roswell area of Atlanta, Georgia. With easy access from Interstate 285, the Sandy Springs/Lower Roswell area is well known throughout greater Atlanta and attracts shoppers from many parts of the city. As a destination shopping area, consumers come here because of the diversity of business venues available.

National chains such as Target and K-Mart enhance the community that offers many local service establishments such as coffee houses, dry cleaners, restaurants, banks and unique specialty shops. The Scarlet Tassel looks to open a 3,500 square foot store located in an urban lifestyle strip mall offering high visibility and established foot traffic.

The surrounding tenants, primarily small gift, stationery and food-related stores will enhance the shopping experience of The Scarlet Tassel’s customer base. Shopping at The Scarlet Tassel will be easy and convenient due to the following factors:

  • High visibility store front from the street level.
  • Lighted exterior signage.
  • Easy in and out driving access to the shopping complex – traffic light parallel to store location.
  • Plentiful parking spots adjacent to the store.
  • Lighted parking lot.

STORE OPERATION The Scarlet Tassel will be open for operation Monday-Sunday, closed major holidays. Hours of operation will be 10:00 a.m.-6:00 p.m. Monday-Saturday and 12:00 p.m.-5:00 p.m. Sunday. Hours will be extended to 7:00 p.m. during the Holidays.

The Scarlet Tassel will initially be staffed by one full time employee, working 40 hours a week and one part-time employee working 30 hours or less a week. When not traveling or attending to outside business, both owners will be on site daily and will provide additional sales and customer support assistance. Additional details on this subject are provided in the Personnel Plan section.

STORE POLICIES To most effectively service the customer, The Scarlet Tassel will accept the following forms of payment: cash; check; credit Card: Visa, Mastercard and American Express; debit card; traveler’s checks. When accompanied by a sales receipt, merchandise returns will be granted a full refund within 14 days of purchase. A store credit will be granted within 30 days of purchase with or without a sales receipt. Gift recipients can return items for exchange or store credit. Damaged and defective items can be returned for exchange or refund via original form of payment.

2.1 Company Ownership

The Scarlet Tassel is a privately-held S corporation owned by Deirdre Staab and Shelly Dozier-McKee, each with 50% ownership in the company.

2.2 Start-up Summary

Total current and long-term assets will make up 86% of start-up requirements. Start-up expenses, which are detailed in the following table, comprise the remaining 14%.

As detailed below, start-up funding will be a combination of equal investment by the two owners and a long-term commercial loan, calculated at 10.5% for six years.

Capital Equipment Listing

(Quantity, Description of Asset, Brand/Model, Total Cost)

  • 1 4-Line Phone system, Panasonic KXTG4000B: $500
  • 1 All-In-One Printer-Fax-Scanner-Copier, Hewlett Packard, D135: $500
  • 1 Barcode Label Printer, Eltron: $575
  • 1 Local Appserver, Pentium 4, 1.8 GHz, 512 RAM, 40 GB Harddrive, 10/100 NIC, 48x CDRW, 17″ Monitor, Keyboard, Mouse, Windows XP Professional, Norton System Works 2002, PCAnywhere Host & Remote 10.5, Dell Dimension 4500S: $1,329
  • 2 Point-of-Sale Systems, Pentium 3, 700 MHz, 256 RAM, Windows 2000, 12″ Touchscreen, Thermal Receipt Printer, Cash Drawer, Credit Card Reader, Hand Scanner, Customer Display, Keyboard, Mouse Posiflex, JIVA PL Series: $6,790
  • 3 Battery Power Backup, 3-500 VA UPS APC:  $480
  • 2 Laptop Computers, Pentium 3, 1.2 GHz, 512 RAM, 30 GB Harddrive, CDRW, Double Capacity Battery, Windows XP Professional Sony, VAIO R505GC: $4,360
  • 1 Digital Camera, 3.3 Megapixal Sony, Cybershot DSCS75: $500
  • 1 Camera Battery, Lithium Ion Sony: $60
  • 2 Camera Memory Sticks, 128 MB Sony: $120
  • 1 Camera Carry Pouch LowePro: $11
  • 1 Retail Management Software, POS & Inventory Management Celerant ARMS: $5,560
  • 1 Accounting Software, QuickBooks Pro Quicken: $249
  • 1 Credit Card Software, PCCharge Pro Go Software: $299

Total:  $21,333

Home accessories and gifts business plan, company summary chart image

Products and Services

The Scarlet Tassel identified a need to gain feedback on the product and service offerings of the concept as well as tap into the buying patterns and market awareness of women within the greater Atlanta area. To do this we conducted a Shoppers Focus Group. Held in June, 2002, the focus group was comprised of 10 women representing a diversity of backgrounds and lifestyles:

  • 30-60 years of age
  • Homemakers to independent business owners
  • Single to married
  • Living in four cities within the greater Atlanta area
  • Representing several ethnic groups
  • Unique and independent decorating styles

The objective of the focus group session was to gain insight into the following topics:

  • Shopping experiences
  • Store services
  • Product concepts
  • Market and competitive awareness
  • The retail concept that came to be known as The Scarlet Tassel

To solicit feedback, the focus group was asked a series of questions related to shopping, shopping experiences and store services. Additional feedback was gathered through a word association game focusing on the brand identity elements of stores in the Atlanta area. Lastly the group was shown the concept boards for our business and asked to describe what it represented to them.

The ideas gathered provided us with a wealth of information that helped to formulate and define the products, services and marketing strategies outlined in this plan. This focus group was a key element in establishing a successful blueprint for The Scarlet Tassel.

PRODUCTS: The Scarlet Tassel focuses on selling quality- and value-oriented home accessories and gifts to the independent homeowner and decorating trade.

Our eclectic product mix will consist of products that allow for the successful combination of a lot of different styles – blending the old with the new, the classic with the contemporary, the wild with the tame. Products will be showcased via lifestyle merchandising that inspires a personalization of the home environment.

To support continued business expansion and growth, The Scarlet Tassel will firmly establish its product identity through a narrow and focused product assortment in Year One. In Years Two and Three, the product offer will be expanded and enhanced with new product statements and a broadening of the most profitable product categories. This approach will establish a brand identity, allowing us to tailor our offering to meet the needs of our customers.

The following list identifies the categories for Year One and beyond:

  • Decorative Accessories–Tassels
  • Decorative Accessories–Clocks
  • Decorative Accessories–Desk/Office Accessories
  • Decorative Accessories–Floral
  • Decorative Accessories–Lighting
  • Decorative Accessories–Candles
  • Accent Furniture–Shelving
  • Accent Furniture–Footstools & Benches
  • Accent Furniture–Bed & Bath
  • Accent Furniture–Chairs
  • Wall Decor–Framed Art
  • Wall Decor–Wall Grills & Plaques
  • Wall Decor–Mirrors
  • Home Textiles–Accent Pillows & Throws
  • Special Occasion Gifts–Men’s
  • Special Occasion Gifts–Personal/Girlfriend
  • Special Occasion Gifts–Housewarming
  • Special Occasion Gifts–Hostess
  • Special Occasion Gifts–Baby
  • Personal Accessories–Bath & Body
  • Personal Accessories–Personal Interest Books
  • Personal Accessories–Pet Interest
  • Seasonal Decor–Halloween
  • Seasonal Decor–Fall Harvest
  • Seasonal Decor–Christmas
  • Garden Decor–Planters
  • Garden Decor–Fountains
  • Garden Decor–Garden Gifts
  • Garden Decor–Miscellaneous Gifts
  • Decorative Accessories–Tabletop Accessories
  • Home Textiles–Accent Rugs
  • Home Textiles–Tabletop Linens
  • Personal Accessories–Jewelry
  • Seasonal Decor–Valentines
  • Seasonal Decor–Other
  • Personal Accessories–Tote Bags
  • Personal Accessories–Cards & Stationery
  • Garden Decor–Accent Furniture
  • Garden Decor–Statuary

As an overview, each of the product categories will be represented as described below:

Decorative Accessories: Encompassing a variety of decorative elements that provide character to a home and give it a personal feel, the price-points in this category will range from $10 to $300.

  • Candles and clocks
  • Desk and office accessories
  • Tabletop accessories
  • Dried and silk floral arrangements
  • Lamps including tabletop and floor lamps

Accent Furniture: Smaller, more unique furniture items used as accents with larger furniture pieces make up this product category with price-points ranging from $100 to $800.

  • Occasional and accent furniture
  • Footstools and benches
  • Bed and bath accessories

Wall Decor: One of the fastest growing product categories in the home decorative market, our wall decor offering will encompass a unique variety of items beyond traditional framed artwork. Price-points in the category will range from $25 to $200.

  • Wall grills and plaques

Home Textiles: Known as the “soft elements” in the home decorative market, our home textile offering will provide the finishing touches to a room or table setting. Price-points in this category will range from $15 to $150.

  • Accent pillows
  • Accent rugs
  • Tabletop linens

Special Occasion Gifts: For unique gift giving occasions, our gift selection will allow our customers to purchase items that reflect their personal sentiments and feelings for the gift giving occasion and gift recipient. Price-points in this category will range from $10 to $80.

  • Hostess gifts
  • Men’s gifts
  • Personal/girlfriend gifts
  • Housewarming gifts

Personal Accessories: Our personal accessory offering will encompass items that our customers will use for themselves, enhancing their wardrobe, lifestyles and home environments. Price-points in this category will range from $10 to $60.

  • Bath and body products
  • Jewelry: handcrafted and unique
  • Cards and stationery
  • Personal interest books
  • Pet interests

Seasonal Decor: Our unique offering of seasonal decor will allow our customers to decorate their homes and entertain family and friends in fun and dynamic ways. Our offering here will focus on several key holidays and range in price-point from $20 to $175.

  • Giftable valentines
  • Halloween decor
  • Fall Harvest decor
  • Christmas/New Years decor

Garden Decor: Allowing our customers to extend their living environments outdoors, our decorative garden offering will feature both decorative elements as well as functional elements. The accent pieces in this category will range in price-point from $25 to $300.

  • Small accent furniture
  • Garden gifts
  • Miscellaneous decorative

Focusing on offering products with quality, value, style and uniqueness, The Scarlet Tassel will utilize established vendors from four home decorative product markets to preview and purchase products from: Atlanta International Gift & Home Furnishings Market, Dallas International Gift and Home Accessories Show, New York International Gift Show and High Point International Home Furnishings Market. One-of-a-kind products will be sourced through local artist and craftsmen via major antique markets and craft shows.

SERVICES: To create a point of differentiation between The Scarlet Tassel and other retailers in the area, we will offer a variety of custom, personalized services that further enhance the products offered and shopping experience of our customers. Our service offering will provide one-on-one design inspiration for the customer, will allow the customer to shop in a variety of ways, and will support a broad consumer, business and design trade client base.

Customized Giftwrap: The signature gift wrap offered by The Scarlet Tassel will be the added touch that makes the gift special. The gift wrap will reinforce the brand image of the store.

Corporate Gift Program: As a business-to-business offering, our corporate gift program will allow a business to purchase fun and unique gifts for their client or employee at a 10% discount.

Gift Certificates: Making gift giving easy for a variety of occasions, The Scarlet Tassel will offer gift certificates in a variety of denominations.

Gift Registry & Wish List: Whether for a wedding, birthday, anniversary or other special occasion, our gift registry program will allow friends, families and spouses on the hunt to purchase a gift that the gift recipient has already indicated they would like. It takes the hassle out of selecting a gift.

Realtor Gift Certificate Program: As a way to reach newcomers to Atlanta, our realtor gift program will allow realtors to purchase “welcome” gifts for their clients at a 10% discount. Not only will our exposure to the affluent realtor market enhance sales, but the opportunity to build our customer base will be greatly enhanced.

Creative Workshops: As a way to inspire and educate customers on “do-it-yourself” decorating projects, The Scarlet Tassel will offer a variety of educational workshops that will provide hands-on techniques to decorate and adorn your home. Utilizing products sold in the store, we look to enhance sales as well as make decorating easy for our customers.

“Makeover In A Day:” This unique service will provide the customer with “in-home” decorating assistance, re-creating a room or two in a customer’s house within a day, utilizing both the homeowner’s existing pieces as well as incorporating new decorative pieces from The Scarlet Tassel. Exposing our products and services to the friends and family of customers will enhance our opportunity to attain new customers. This service program will be available to customers during Year Two of operation.

ASID Discount: Offered exclusively to the design trade, an ASID discount of 20% will be extended to Interior Designers.

Preferred Customer Shopping Events: As recognition of our best customers, we will hold preferred customer shopping events allowing those customers to shop special days and hours, and receive personalized shopping assistance and special discount offers.

Newsletter: As a way to communicate with our customer base, we will publish a quarterly newsletter that highlights design trends, new product offers, gift giving ideas and decorating tips. This service program will be available to customers during Year Two of operation.

Customer Comment Card: To ensure that we are servicing our customers fully and offering the products they desire, we will provide a customer comment card where ideas and thoughts can be expressed by the customer. Comments will be reviewed on a regular basis in an effort to enhance products and services.

Personal Shopper: The entire staff of The Scarlet Tassel will possess the skillset to personally assist each customer with all of her shopping and decorating needs. As customers and sales associates establish personal relationships, The Scarlet Tassel will be able to inform the customer about new product arrivals that might interest them as well as provide decorating and gift giving tips that are aimed at the unique and individual customer.

Birthday Recognition: To recognize that important day, The Scarlet Tassel will send out birthday cards to customers while also providing them with a short-term “birthday discount” of 10%.

3.1 Fulfillment

The company has a number of sources available for their product is vast as the home decor market and industry is quite large. Management will rely on three markets for preview and purchase of products from established vendors: Atlanta International Gift & Home Furnishings Market, New York Interntional Gift Show, and High Point International Home Furnishings Market.  Unique and one-of-a-kind products will be sourced through local artists and craftmen via major antique markets and craft shows.

Market Analysis Summary how to do a market analysis for your business plan.">

Launching a new business venture during tough economic times can prove challenging, however, through extensive research and analysis the following market findings and projections support the launching of The Scarlet Tassel retail store in 2003.

While the U.S. economy and specific business sectors were hit by a stagnating economy during 3rd and 4th quarter of 2001, the “gift industry” which includes the product categories of home decorative accents, general gifts, collectibles, stationery and greeting cards, and seasonal decorations suffered only a 1% drop generating sales of $54.6 billion against 2000 sales of $55.2 billion. 

It has been reported in many industry trade publications that despite the downturn in the economy, American consumers are spending more and more of their disposable income on their home. The home decorative accents segment of the gifts industry continues to perform strongly posting a 2.2% growth over 2000 and reaching $16.9 billion in sales.

As predicted by Unity Marketing, “the future of the gifts and home accents market is positive for the next several years.” Source: Unity Marketing, The Home Report 2001: The Market, The Competitors, The Trends

Closer to home, homeowners in the Sandy Springs/Lower Roswell area of Atlanta spent $1.8 billion on home decorative products in the year 2000. We expect sales to continue to grow as home ownership grows by 8.8% and 61% of homeowners reach a level of earnings above $60,000 per year by the year 2005. Source: CACI Marketing Systems for Georgia 2000 Information Systems, The University of Georgia

The Pulse of the Industry

  • “The home has become the most desired status symbol for Americans, and as such, a growing portion of the American families’ discretionary spending is budgeted for the home.” Source: Unity Marketing, The Home Report 2001: The Market, The Competitors, The Trends
  • “The home market has been transformed from a largely functional to a fashion business, thus allowing consumers to dress and decorate their houses like they dress and accessorize themselves. Consumers are wanting products that reflect their tastes, values and sensibilities.” Source: Unity Marketing, The Home Report 2001: The Market, The Competitors, The Trends
  • “In the past two years consumers spent more money on home furnishings than they did on clothes. Consumers are not just striving to make their homes more ‘beautiful,’ rather they are seeking decorative items that can positively impact the mood and emotional climate of their home.”  Source: Unity Marketing, The Gifts and Decorative Accessories Report 2001: The Market, The Industry, The Trends
  • “As their lives become more ‘virtual’ and dependent upon computers and technology, consumers will seek out gifts and decorative products which will help ground them in the ‘real’ world.” Source: Unity Marketing, The Gifts and Decorative Accessories Report 2001: The Market, The Industry, The Trends

Shifting channels of distribution are a major trend in retailing today, with many consumers turning to e-commerce for their home needs. A business that establishes itself with multiple channels of operation will set themselves up for continued growth and success. The Scarlet Tassel plans to establish an e-commerce business segment in year 3 of operation.

The Market With More As a city with dominant growth in the southern region, the Atlanta retail marketplace continues to benefit from the South’s dominance over other regions in almost every indicator of growth and affluence.

  • The South has more discretionary income dollars, leading the U.S. with 33.5%.
  • The South leads in households with $75,000+ income and $100,000+ income.
  • The South leads in projected growth of total personal income.
  • The South leads in the number of housing starts at 39.1%.
  • The South generates more retail sales than any other U.S. region in every sales category.
  • The South is number one in sales of furniture and home furnishings.

Source: U.S. Department of Commerce, Bureau of Census, 2001

4.1 Market Segmentation

The Scarlet Tassel intends to target specific market segments to generate sales.

BABY BOOMERS (age 38 to 56) still have kids at home, so they need bigger houses and possessions to put in those houses. Their affluence is reaching its highest level.

GENERATION X (age 24 to 37) is thriftier than previous generations, very home-oriented, and prefers more free time to more money.

ECHO BOOMERS (including people born between 1979 and 2005 – customers who have yet to be born!) will be the most affluent young generation ever (they have access to the Baby Boomers’ money), and they grew up with technology.

Market Segment Characteristics

  • Within a 5 mile radius of the Sandy Springs/Lower Roswell area of Atlanta, the population statistics (age 0-59) encompassing the market segments targeted by The Scarlet Tassel totalled 124,964 in 2000. A growth rate of 6.8% is projected through 2005.
  • By market segment, The Scarlet Tassel’s customer base will be represented as follows:
  • 33.0% Baby Boomers
  • 41.0% Generation X
  • 26.0% Echo Boomers
  • Targeting primarily female shoppers, 51.6% of the market segments targeted by The Scarlet Tassel are female with a growth projection of 6.8% through 2005.
  • By race, The Scarlet Tassel’s market segments will be represented as follows:
  • 77.5% White
  • 7.8% African American
  • 6.6% Hispanic
  • The total number of households in 2000 totalled 65,697 and is projected to grow by 8.8% through 2005, totaling 72,073.
  • As incomes increase over the next several years, the discretionary income available to spend on home decorative and gift products will increase. In 2000, households generating in excess of $60,000 per year represented 56.8% of total household earners. By 2005 this number is projected to jump to 61.5% of total household earners.

Source: CACI Marketing Systems for Georgia 2000 Information Systems, University of Georgia

Who Is The Scarlet Tassel Customer?

  • Middle to Upper Class
  • Primarily Female
  • 30 – 60 Years of Age
  • Social, Enjoys Gatherings With Friends
  • Family Oriented
  • Values the Comforts of Home
  • Relaxed and Approachable Lifestyle
  • Quality Conscious
  • Value Conscious
  • Possesses Style Awareness

Home accessories and gifts business plan, market analysis summary chart image

4.2 Service Business Analysis

The state of the industry is being determined in a positive way by consumer attitudes and changes in behavior. Following are a few observations:

  • Having seen growth prior to September 11, 2001, the home decorative and gift industry is experiencing continued success as Americans begin to refocus their priorities and place more emphasis on the core values of home and family. This shift in priorities has driven many consumers to sprucing up their homes in a desire to make it more pleasing and personal.
  • As consumers become more time-deprived, they are looking to shop at stores whose service offerings are as equal in quality and value as their product offerings.
  • As consumers are overwhelmed with choices in their lives, they look for stores to offer them products that will enhance their lifestyle, make their lives more comfortable and provide unique and uncommon product selections beyond the mass market retailers.
  • More and more consumers are seeking independent retailers that offer them the feel of home with a more personalized shopping experience.
  • In many cases, retail stores are beginning to “look alike” to many consumers. The more personal and interesting the product, the better it reflects your personality. Personalization is making a huge difference. Eclectic doesn’t just mean you have a mix of styles, it means you have things that are intensely personal and can reflect one’s individual style and taste.
  • In the service arena, making business easier for consumers is a winning element. Simple things like offering convenient hours, free delivery, and easy return policy will win big points in the consumer’s mind.

4.2.1 Competition and Buying Patterns

The home decorative and gift marketplace is a diverse arena encompassing many choices for the consumer. While The Scarlet Tassel recognizes that our competition in the Sandy Springs/Lower Roswell areas comes in many shapes and sizes, our in-depth analysis of each, as outlined below, has allowed us to identify our market strengths, areas of uniqueness and competitive edge. The following analysis reflects competition located within a three mile radius.

Hospitality House : Located in the Sandy Springs Plaza shopping center as well as several other locations in Atlanta, this gift and decorative accessories store has established itself as a classic and traditional resource for brass, pewter, glass, crystal and wood decorative items. A large percentage of the assortment focuses on tabletop and dining accessories such as bowls, serving utensils, ceramic tableware, vases and linens. They do not offer any decorative items within the lighting, furniture, rug, textile and garden categories. The gift offering is positioned as “special occasion” gifts appropriate for weddings, baby, anniversaries and birthdays. To address seasonal holidays, the store offers small decorative elements such as ornaments and tabletop decor for Valentines, 4th of July, Halloween, Thanksgiving and Christmas.  The overall product selection offered by Hospitality House is of high quality and represents a more formal decorating style. The clientele that shops at Hospitality House tend to be older in age. Prices range from $10 for small gift items to $350 for a more formal decorative item. Hours of operation are Monday through Saturday 9:00 a.m. to 6:00 p.m. As they are closed on Sundays, they are not taking advantage of the Sunday traffic the center draws.

What Fun : With a single location in the Sandy Springs Plaza shopping center, this highly whimsical and eclectic gift store offers playful, comical and creative gifts for all occasions, serious or fun. Within the store, items are grouped by gift giving occasion or recipient such as, “For Him,” “For Her,” “Wedding,” “Pet” or Birthday.” Products range from fur covered telephones, novelty books and hand-painted pottery to a chair shaped like a shoe, lava lamps and novelty pet dishes. The store environment is colorful, festive, playful and fun, and reinforces the store name and brand positioning. Opening price-points start at $5.00 and reach $250 on the high end.Establishing a brand position that resolves around elements of “fun,” they have gone so far as to apply this to their store hours: Monday through Saturday 9:59 a.m. to 6:01 p.m. and Sunday 12:01 p.m. to 4:59 p.m.

Store House : This national retail furniture chain store has many locations around Atlanta, with one located in the Sandy Spring Plaza shopping center. With the primary focus on large home furnishing pieces, items within the store can be described as modern, classic and contemporary, with a distinct Scandinavian or Swedish style. The store offers furniture pieces for all rooms in the home as well as a narrowed assortment of decorative accessories such as lamps, ceramics, and artwork and wall decor. As with the furniture, the decorative accessories are more contemporary and modern in style. Observations indicate that the customer that shops at this store is younger to middle age with a distinct decorating style. Pricing starts at $50 for a small decorative accessory to $1,000’s for larger furniture pieces. Interior decorating services are available for an additional fee. Store hours are Monday through Saturday from 9:00 a.m. to 6:00 p.m. and Sunday 12:00 p.m. to 6:00 p.m.

Paper Affair :  As the name indicates, the primary focus of this store is a large and diverse offering of paper products: Stationery, cards, gift-wrap, invitations and announcements. One of many locations in Atlanta, the Sandy Spring Plaza store is a bit smaller than their typical store, thus offering less depth in all the product categories they carry. Cards, invitations and announcements make up the largest percentage of the assortment and are further enhanced with custom printing services available. A small offering of personal gifts such as writing instruments, picture frames, books and bath and beauty products are also available. Holidays are addressed with a narrow offering of themed gift and paper products specific to the season. Paper Affair attracts a broad demographic audience as their paper products address many looks, styles, colors, formats and needs. Within the paper goods industry, their main competitors are stores such as Swoozies, Papyrus, Crane and Queen’s Paperie. Given the range of products offered, prices start at $1.25 for a greeting card to $40 for a picture frame. Following a company policy, all locations are open Monday through Friday 10:00 a.m. to 7:00 p.m., Saturday, 10:00 a.m. to 6:00 p.m. and Sunday 12:00 a.m. to 5:00 p.m.

The Beaded Lizard : This independent jewelry and gift store has three locations in the Atlanta area. The Sandy Springs Plaza store has opened in the last year and is smaller than its sister stores. Handcrafted and beaded jewelry make up a large percentage of the assortment with small “all occasion” gifts rounding out the offer. Many pieces are whimsical in style and inexpensive in price. Prices range from $5.00 to $70 for a more intricately designed jewelry or gift item. This store attracts a younger audience, which seemingly looks for more “stylish” pieces that do not require a large investment. Store hours are Monday through Saturday from 10:00 a.m. to 6:00 p.m. with limited Sunday hours of 1:00 p.m. to 5:00 p.m.

Ross Dress for Less : This National Discount Apparel and Accessories store is new to the Southern region and Atlanta Area. The Sandy Springs store is newly opened (September 2002) and is of significant square footage. Primarily selling adult and kids apparel, personal accessories and footwear the store does offer a selection of home decorative accessories and linens. A majority of the items are overstocks or second quality items purchased in the market from full price stores and are being sold at deep discounts. Quality levels tend to be lower because of the price-point positioning and item selections limited given the source of goods. A customer purchasing from this store will not find any decorating inspiration or decorating services available. Ross attracts a wide customer base, primarily those looking for value and discount pricing. The store is open Monday through Sunday.

K-Mart : As a national chain discount store, K-Mart has a diverse product offering that appeals to consumers looking for value pricing. Product statements range from clothing and footwear to assemble-it-yourself furniture, lamps, mass marketed decorative accessories, household linens and electronics. Because of recent bankruptcy filings and stiff competition from Wal-Mart and Target, K-Mart has lost market share.

Marshall’s : Much like Ross Dress for Less, Marshall’s is a national discount store offering clothing, footwear and home products. They too purchase overstocks and “seconds” from the after-market suppliers and offer them at heavily discounted prices. Selections are limited and shopping is a “hunt-and-peck” experience. Items are positioned on shelves by category with little merchandising criteria applied other than get as much on the selling floor as possible. The store is open Monday through Sunday.

Target : This highly recognizable multi-channel discount store offers a wide range of products and styles that appeal to a broad audience. Target has positioned itself as a source for the latest styles and trends at value pricing. Offering clothing and footwear, home decor, cleaning supplies, bath and beauty products, electronics, outdoor camping and sports equipments as well as toys, Target is a one stop shopping source. Because they focus on offering the latest trends and styles many of the gifts and home decorative products tend to be more contemporary and modern in feel. Quality is acceptable but is not recognized as being truly long lasting. Design inspiration is limited within the store and personalized services consist of a baby and wedding registry service. Store Hours are 8:00 a.m. to 10:00 p.m. Monday through Saturday and 9:00 a.m. to 7:00 p.m. on Sundays.

Lakewood Antiques Mall : With a single store located in Sandy Springs, this antiques mall supplements the Lakewood Antiques Fair that comes to Atlanta the second weekend of each month. Set up with individual booths within a larger complex, the primary focus is on antique furnishing, accessories, rugs and garden decor. Because antiques reflect a unique decorating style, this store does not have mass appeal. Pricing can range from $5.00 to many $1,000’s for larger furniture pieces. Each booth owner merchandises his or her own space so there is no pattern or style that flows throughout the store. Sales help is located at the front of the large square footage building so it is difficult to receive personalized assistance. This store is open Monday through Sunday.

The Scarlet Tassel sets itself apart from the “masses” by offering products that are unique in design and style, and are decorative in application. Our goal is to target quality-conscious homeowners who seek personal service, smart pricing, and a sense of trust in where they shop for those unique elements that express their character in their home. We want OUR HOME to be their HOME.

Web Plan Summary

In Year Two, The Scarlet Tassel plans to develop a Web presence and in Year Three, add e-commerce to its business model. The Scarlet Tassel’s website, www.scarlettassel.com and www.thescarlettassel.com, will be a secondary channel of business serving as virtual business card and portfolio for the company, as well as its online “home.”

The website will showcase the product offer available for purchase, and provide design and trend information appropriate to the home decorative market. Additional tips and inspirational ideas will focus on gifts and gift giving. To further show off its expertise, The Scarlet Tassel website will provide a resources area, offering articles, research, product information and website links of interest to its customers.

The Scarlet Tassel website will mirror the image and branding elements showcased in the store and at the same time, keep up with the latest trends in user interface design. The key to the website strategy will be combining a well designed front-end, with a back-end capable of capturing “hits” and customer data for use in future marketing endeavors.

5.1 Website Marketing Strategy

Market strategy in an Internet retail business depends on recognition of expertise by the consumer. For The Scarlet Tassel, it will start with our existing brick-and-mortar store customer base, informing them of our Internet presence and encouraging their word-of-mouth recommendations to others. Further awareness will be heightened by utilizing search engine marketing, banner advertising, and affiliates.

5.2 Development Requirements

Costs that The Scarlet Tassel will expect to incur with development of its website include:

Development Costs

  • Upgrade to Celerant ARMS Internet Engine – $7,500.
  • Site Design  – $3,000.
  • Site Implementation  – Free. The Scarlet Tassel will utilize the programming services of Andy Staab, husband and friend. Andy Staab has 20 years of experience in software development including custom programming, data management, and Web development. His skills and services are profiled at his own website: www.programmerplus.com. The Scarlet Tassel is grateful for the significant cost savings and advice that this connection will provide.

Ongoing Costs

  • Website name registration for both www.thescarlettassel.com and www.scarlettassel.com  – $70 per year.
  • Site Hosting  – $30 or less per month.
  • Search Engine Registration  – $200 per year.
  • Site Design Changes  – Changes in the site, such as photography costs (estimated at $150-$200 per shot), are considered to be part of Marketing and Advertising.

Strategy and Implementation Summary

6.1 competitive edge.

The Scarlet Tassel looks to establish itself competitively as a unique retail environment through its product offering, the scope and level of services it provides, and the expertise of its employees.

PRODUCTS : Sourced through established manufacturers via international trade shows and one-of-a-kind specialty craft fairs, the products offered by The Scarlet Tassel will provide a high level of quality and value to the consumer. The range of products will be unique, with little crossover to other retailers within the Atlanta marketplace.

SERVICES : Connecting with the customer is a key focus for The Scarlet Tassel. Through personalized design services, educational decorating workshops, gift registry, realtor programs, ASID discounts, gift certificates, gift wrap and preferred customer recognition programs, The Scarlet Tassel will provide a level of personalization not commonly found in today’s hectic, mass market. It is our desire that customers look to us as their valued resource to achieve a personalized home environment.

EMPLOYEES : Employees of The Scarlet Tassel will enjoy a friendly, fair and creative work environment, which respects diversity, new ideas and hard work. Development through experience and training will be a primary focus. It is our desire that employees are long-term ensuring an expertise that will support the customer experience.

6.2 Marketing Strategy

In addition to price and item promotional announcements, The Scarlet Tassel will focus its marketing efforts via several key direct-to-consumer advertising vehicles:

Local and Regional Magazine Publications : Each of these advertising vehicles provides a demographic base that lines up nicely with that of The Scarlet Tassel.

Direct Mail Postcards : The Scarlet Tassel will look to increase consumer awareness, retain the existing customer base and promote increased sales via seasonal postcard mailings. These mailings will be targeted around special events and are intended to liquidate slow moving products or showcase vendor negotiated specials.

  • Spring Open House–15% to 20% savings opportunity.
  • Fall Open House–15% to 20% savings opportunity.
  • Holiday Open House–15% to 20% savings opportunity.
  • Annual Anniversary Postcard–promotes in-store design seminars, special events and savings opportunities.

Website Marketing : As we establish our e-commerce business segment during Year Three of operation, we will support the business via search engine marketing, banner advertising, URL links and e-mail marketing on all correspondence. This third channel of business will increase the customer base, sales potential and service opportunities provided by The Scarlet Tassel.

6.2.1 Promotion Strategy

The Scarlet Tassel will leverage its expertise, product offerings and marketing strategy to increase its customer base while driving sales and profit. The following sections review the various strategies that will support this effort.

6.3 Sales Strategy

THE CUSTOMER The Scarlet Tassel will approach sales from a salesperson-customer relationship basis. All sales associates will be trained and encouraged to assist customers in a personal manner, utilizing first names and asking the questions needed to provide the customers with the services they desire. Gathering key customer information and seeking performance feedback on the products and services offered will assist us in the following ways:

  • Targeting our marketing efforts more effectively.
  • Developing product offers and merchandising formats that will increase sales.
  • Developing services that enhance the shopping experience.
  • Training and developing sales associates in order to effectively service the customer.
  • Increase awareness of The Scarlet Tassel within the retail consumer marketplace.
  • Develop future sales opportunities that allow for continued growth of the business.

THE PRODUCT In order to provide the customer with the most up-to-date home decorative and gift products on the market, we will attend international tradeshows which showcase all of the products manufactured within this category of business. Attending market will not only allow us to ensure our product offer is current and up-to-date but will provide us with fresh, new store merchandising and display ideas.

To stay abreast of market and product trends, we will utilize the following trade publications to reinforce and expand our knowledge base:

  • Giftware News
  • Home Accents Today
  • Home Decor Buyer
  • Residential Lighting
  • Accessory Merchandising
  • Gifts and Decorative Accessories
  • Greetings etc.

MERCHANDISING Products will be showcased via lifestyle merchandising that inspires and promotes multiple purchases. We look to create a strong visual impact creating an invitation to touch and purchase.

PRICING It is the goal of The Scarlet Tassel to offer style and quality at a value to the consumer. Our pricing structure will support a 55% gross margin and position us competitively within the marketplace. Seasonal promotional offers and annual anniversary sale events will encourage additional sales and multiple unit purchases.

OUR EMPLOYEES Employees of The Scarlet Tassel are an integral part of the shopping experience for the customer. All employees will be developed for growth and advancement, and compensated fairly with effective training that will enable them to confidently service the customer.

TECHNOLOGY As we enter the 21st century, proper technology is becoming key to meeting the customer’s expectations. The Scarlet Tassel has chosen Celerant Advanced Retail Management System (Celerant ARMS) as its retail management software. After careful consideration of Retail Pro and other well-known retail software programs, Celerant ARMS was chosen for its advanced real-time capabilities. Company-wide real-time data access in lieu of nightly polling or other end-of-day processes is a feature not offered by most software in this price point. With an eye towards the future, real-time will greatly enhance the experience of The Scarlet Tassel’s customer, especially in an Internet or multi-store environment, without an expensive software change.

Additional features include:

6.3.1 Sales Forecast

The Sales Forecast, as detailed in the table and charts following, is based on The Scarlet Tassel’s planned retail space of 3,500 square feet and the average $ sales per square foot expected. All revenues in the forecast are from direct retail sales and do not include any miscellaneous income. Monthly sales, as noted in the Appendix, have been adjusted to reflect the “valleys” that the retail business is noted for. Dips in sales are expected, in particular, for the months of January, February, and March.

Quarterly sales are expected to be driven by each major category as follows, and will be enhanced with sales supporting seasonal holidays or gift giving occasions as noted below:

1st Quarter Holiday Clearance, Valentines Day, Easter

70% – Decorative Accessories 3% – Accent Furniture 6% – Wall Decor 2% – Home Textiles 7% – Special Occasion Gifts 5% – Personal Accessories 3% – Seasonal Decor 4% – Garden Decor

2nd Quarter Mother’s Day, Father’s Day, Memorial Day, 4th of July

70% – Decorative Accessories 3% – Accent Furniture 5% – Wall Decor 2% – Home Textiles 8% – Special Occasion Gifts 5% – Personal Accessories 3% – Seasonal Decor 4% – Garden Decor

3rd Quarter Labor Day

70% – Decorative Accessories 4% – Accent Furniture 6% – Wall Decor 2% – Home Textiles 8% – Special Occasion Gifts 5% – Personal Accessories 2% – Seasonal Decor 3% – Garden Decor

4th Quarter Halloween, Thanksgiving, Christmas, New Year’s

70% – Decorative Accessories 4% – Accent Furniture 4% – Wall Decor 3% – Home Textiles 8% – Special Occasion Gifts 5% – Personal Accessories 4% – Seasonal Decor 2% – Garden Decor

Growth rates for Years One through Three are planned as follows:

  • 2003 to 2004 (Year One) – $179 per square foot
  • 2004 to 2005 (Year Two) – $237 per square foot; 32.40% growth
  • 2005 to 2006 (Year Three) – $284 per square foot; 19.83%% growth

With the industry average estimated at $300 per square foot, growth planned is attainable. In spite of the economic unpredictability we are experiencing, these projections are supported by the continued strength in the Atlanta home decor market. Source: Home Accents Today, Spring 2002

Home accessories and gifts business plan, strategy and implementation summary chart image

6.4 Milestones

The following table lists important milestones, with dates and persons primarily responsible for planning, as well as budgets where applicable. Mentioned by first name in the table are a few persons whose expertise in their field of work are required to make The Scarlet Tassel a reality. They include:

  • Bob Levine – Real Estate Agent, Coldwell Banker Commercial
  • Jeff Burkholder – Graphic Artist, Burkholder Designs
  • Victor Moldovan, ASID – Store Planner & Designer, Moldovan Interior Design
  • Barry Brouner, CPA – Accounting & Tax Consulting
  • Steve Anderson – Attorney, Anderson & Dailey

Home accessories and gifts business plan, strategy and implementation summary chart image

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The Scarlet Tassel has a very strong, experienced and professional management team in co-owners Deirdre Staab and Shelly Dozier-Mckee, with 36 years of combined experience. Each brings to the business their own area of expertise leaving few gaps of knowledge.

Shelly Dozier-Mckee, Co-Owner/Manager – Merchandising & Marketing Shelly has spent 17 years in the retail and catalog industry, with direct experience in men’s and women’s apparel, footwear, personal accessories, gifts and home decor. She spent 10 years with a large-scale industry-leading international retail and catalog company in the Seattle area. Her extensive background has included positions such as buyer, senior buyer, director of merchandising and general merchandise manager. She has been responsible for strategic planning and business management for business segments generating in excess of $400 million annually, including new business development and implementation. Additionally, Shelly has five years of off-shore sourcing and product development experience. Having spent extensive time in the home decorative marketplace, she is very familiar with the product lines, vendor base and business elements utilized within the home decorative industry. Shelly has a Bachelor of Arts degree from Washington State University, is married, 40 years old and a homeowner in the Smyrna, Georgia area.

Deirdre Staab, Co-Owner/Manager – Operations & Finance Deirdre is a 19 year veteran of the catalog industry, with direct experience in footwear, personal accessories, gifts and home decor. Her background has included positions such as buyer, purchasing manager, operations manager and senior manager of purchasing & operations. Deirdre’s experience has crossed many diverse areas of responsibility including corporate strategic planning, policy and procedural development, merchandising, purchasing, forecasting, vendor management and compliance, third party warehouse and call center operations, transportation and managing software development in a proprietary system environment. Deirdre’s recognized expertise in inventory management and forecasting has afforded her the honor of being selected as a session panelist at both the 2001 National Conference for Operations & Fulfillment and also at the 2000 Direct Marketing Association’s 17th Annual Catalog Conference & Exhibition. Deirdre has a Bachelor of Science degree from the University of North Carolina at Greensboro, is married, 41 years old and a homeowner in the Smyrna, Georgia area.

Decision-making will be divided as follows:

Shelly Dozier-McKee Merchandising & Store Planning Marketing & Advertising Workshop Development & Instruction Web Development: Front End

Deirdre Staab Purchasing & Numerical Analysis Operations & Accounting Software & Computer Systems Web Development: Back End

Shared Hiring, Employee Development & Policies Customer Services & Policies

7.1 Personnel Plan

The Scarlet Tassel store hours are planned Monday through Saturday, 10:00 a.m. to 6:00 p.m. and Sunday, 12:00 p.m. to 5:00 p.m.. The Scarlet Tassel will not be open in the evenings unless a workshop or other customer event is taking place. The Personnel Plan, as detailed in the table following, has been developed to support these store hours and expected volumes as per the Sales Forecast section.

Assumptions regarding personnel have been made for Year One through Year Three as follows:

  • Year One Ending March, 2004 – Owners, Deirdre Staab and Shelly Dozier-Mckee, will not take a salary the first three months – April, May and June 2003. Starting in July, their salaries will begin to increase incrementally, every two months, until the planned annual salary is reached by January of 2004. One full-time employee and one permanent part-time employee will be hired to start work the first week of April 2003. One temporary part-time employee will be hired to work through the Holiday season – October, November and December 2003. It should be noted that the full-time employee hired is expected to have retail management experience or have enough experience to be considered promotable to assistant manager or manager within a few years, hence, the higher starting salary. The support of a trusted and experienced employee will be needed to enable Deirdre and Shelly to be away from the store when necessary to shop the markets for product. As well, the ability to promote from within supports The Scarlet Tassel’s pledge to its employees. The permanent part-time employee will be hired at the Atlanta average of $10.00 per hour and the temporary part-time employee will be hired at $9.00 per hour. Atlanta Average Source: Atlanta Magazine, Salaries Survey 2002
  • Year Two Ending March, 2005 – Salaries for Deirdre and Shelly will increase beginning in July 2004. Current full-time and part-time employees will be provided salary reviews and given appropriate salary increases – 4% has been factored in. A second permanent part-time employee will be hired in July 2004 at the Atlanta average for retail of $10.00 per hour. Atlanta Average Source: Atlanta Magazine, Salaries Survey 2002
  • Year Three Ending March, 2006 – Salaries for Deirdre and Shelly will be maintained at their current level. Current full-time and part-time employees will be provided salary reviews and given appropriate salary increases – 4% has been factored in. A second full-time employee will be hired in April 2005, and a temporary part-time employee will be hired for the Holiday season, if needed.

Financial Plan investor-ready personnel plan .">

The Scarlet Tassel’s financial plan makes some critical assumptions that will determine the potential for future success.

  • The Economy . This could not be a better time to start a business as the economy reaches its lowest point of the business cycle and begins its trek back up. Consumer spending is up. “The Commerce Department reported consumers had increased their spending by 1% in July, the largest advance in nine months.” Source: The Wall Street Journal, “In Uneasy Times, Consumers Boost a Fragile U.S. Economy”, September 3, 2002
  • Owner Experience . A shorter learning curve will be brought to the business by Deirdre and Shelly due to their extensive backgrounds and in-depth market knowledge.
  • Managed Costs . A clear understanding of the need to manage costs and forecast future needs so that the business is not “broad-sided” by the unexpected.
  • Wise Purchases . Finding the right product, at the right price will enable the business to meet planned margins and maintain inventory at an attractive level with a high turn rate.

8.1 Projected Profit and Loss

The projected Profit and Loss for three years is detailed in the table and charts following. Monthly projected Profit and Loss for Year One is available in the Appendix. Some assumptions and inclusions to be noted are:

  • Accounting and Legal includes: CPA, attorney and payroll service costs.
  • Insurance includes: Business property, liability and interruption and key person life insurance. Health Insurance as an employee benefit will be considered in Year Three and is reflected as such.
  • Miscellaneous includes: Bank account fees, employment advertising, software maintenance, Web hosting, annual Internet name registration, software upgrades, annual search engine registration when applicable, off-site data backup, and other.
  • Merchant Fees assume 80% of total revenue is in credit card sales and are calculated at 2.5%.
  • Outbound Freight increases Year Two due to improved RTV procedures. Additional increases in Year Three are expected due to the development of the Web and the outbound shipping that will result from an e-commerce business.
  • Rent assumes 3,500 square feet of retail space is charged at fixed per square cost foot plus taxes, maintenance and insurance.
  • Payroll taxes and workman’s compensation were calculated at 12% of payroll.
  • A 3% inflation factor was applied to select operation expenses for Years Two and Three.
  • Marketing and advertising has been maintained for all three years at approximately 4.5% to 6.5% of total revenue.
  • Travel costs were increased by 20% in Years Two and Three based on the assumption that the state of the airline and hotel industries will recover from the current economic trends and react with increased rates and as well, to allow for an additional employee to travel if needed.

Home accessories and gifts business plan, financial plan chart image

8.2 Break-even Analysis

The Break-even Analysis in the table and chart following illustrate the number of units and retail sales that The Scarlet Tassel must make to break-even each month. 

Home accessories and gifts business plan, financial plan chart image

8.3 Projected Cash Flow

The projected Cash Flow for three years is detailed in the table and chart following. Monthly projected Cash Flow for Year One is available for review in the Appendix.

It should be noted that The Scarlet Tassel expects to operate on a cash basis with vendors the first year, hence, no Accounts Payable for the first year. As credit is established with vendors, it is assumed that in the second year 40% to 50% of monies owed to vendors will be reflected in Accounts Payable. It is further assumed that in the third year 70% to 80% of monies owed to vendors will appear in Accounts Payable.

Home accessories and gifts business plan, financial plan chart image

8.4 Pro Forma Balance Sheet

The projected Balance Sheet for three years is detailed in the table following. Monthly projections for the first year Balance Sheet are available for review in the Appendix. Planned numbers show that liabilities are expected to decrease approximately 40% by the end of Year Three, increasing owner’s equity and net worth.

8.5 Business Ratios

The following table outlines some of the more important ratios from the {xxxxxxx} industry. The final column, Industry Profile, details specific ratios based on the industry as it is classified by the Standard Industry Classification (SIC) code, xxxx.

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Home Care Business Plan PDF Example

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  • February 23, 2024
  • Business Plan

The business plan template for a home care business

Creating a comprehensive business plan is crucial for launching and running a successful home care business. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your home care business’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a home care business business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the healthcare industry, this guide, complete with a business plan example, lays the groundwork for turning your home care business concept into reality. Let’s dive in!

Our Home Care business plan is designed to address all vital elements necessary for a detailed and effective operational strategy. This plan encompasses the scope of our home care services, marketing approaches, the environment in which we operate, an analysis of our competitors, the structure of our management team, and financial projections. 

  • Executive Summary: Offers a succinct overview of the Home Care business’s unique proposition, highlighting personalized and professional in-home care services tailored for seniors, market analysis showcasing the sector’s growth and demand, management’s expertise in senior care, and a financial strategy that outlines investment opportunities and revenue expectations.
  • Services & Area Coverage: Describes the array of in-home care services, including personal care, medication management, specialized care for dementia, and emergency response, all delivered within a specified service radius to meet the unique needs of each senior.
  • Pricing: Details the pricing strategy, designed to be transparent and competitive, offering flexible options to cater to various financial situations of clients, including hourly and flat-rate packages tailored to different care needs.
  • Key Stats: Presents data underscoring the market size, growth trends, and demographics that illustrate the potential and necessity of home care services.
  • Key Trends: Highlights significant trends such as the increasing preference for aging in place, the integration of technology in care, and a shift towards personalized care.
  • Key Competitors: Analyzes the main competitors within the service area, their offerings, and how the business’s unique approach and technology set it apart.
  • SWOT Analysis: Conducts a comprehensive analysis of Strengths, Weaknesses, Opportunities, and Threats to strategically position the business.
  • Marketing Plan: Outlines marketing strategies aimed at building brand awareness, attracting new clients, and retaining them through superior service, patient satisfaction programs, and targeted marketing efforts.
  • Timeline: Sets forth key milestones and objectives from the business setup to its launch and key growth phases.
  • Management: Highlights the experienced team leading the business, from caregiving professionals to administrative management, emphasizing their roles in ensuring high-quality care and operational success.
  • Financial Plan: Projects the financial outlook for the business over the next five years, detailing revenue models from various services, cost management strategies, profit margins, and expected return on investment, ensuring a clear route to financial sustainability and growth.

The business plan template for a home care business

Home Care Business Plan

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your home care business plan, offering a concise overview of your agency and its services. It should detail your market positioning, the range of home care services you offer, including personal care, nursing care, and companion services, its service area, and an outline of day-to-day operations. 

This section should also explore how your home care agency will integrate into the local community, including the number of direct competitors within the area, identifying who they are, along with your agency’s unique selling points that differentiate it from these competitors. 

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the agency’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your agency’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Home Care Business Plan executive summary1

Dive deeper into Executive Summary

Business Overview

For a Home Care Business, the Business Overview section can be effectively divided into 2 main slides:

Services & Area Coverage

Briefly describe the range of home care services your agency offers, emphasizing the personalized and compassionate care provided to clients in the comfort of their own homes. This can include personal care services like bathing and dressing, skilled nursing care, physical therapy, and companion services such as meal preparation and light housekeeping.

Then, mention the geographic area your agency covers, highlighting the convenience and accessibility of your services to clients within this area. Explain why your service area is strategically chosen to meet the needs of your target clientele, considering factors like population demographics and the presence of community resources.

Pricing & Payment Options

Detail your pricing structure for the various home care services offered, ensuring it reflects the quality of care provided and is competitive within the market you’re targeting. Your pricing strategy should be transparent, making it easy for clients and their families to understand the cost of care.

Also,highlight any flexible payment options, insurance partnerships, or programs that can help offset the cost for clients, such as Medicaid, Medicare, or private insurance coverage. Emphasize any packages or special programs that provide added value to your clients, such as customized care plans or discounted rates for long-term services, encouraging long-term relationships and client loyalty.

Make sure to cover here _ Services & Area Coverage _ Pricing & Payment Options

home decor business plan pdf

Market Overview

Industry size & growth.

In the Market Overview of your home care business plan, start by examining the size of the home care industry and its growth potential.

This analysis is crucial for understanding the market’s scope and identifying expansion opportunities, particularly in the context of an aging population and increasing preference for aging in place.

Key market trends

Proceed to discuss recent market trends, such as the growing consumer interest in personalized home care services, the use of technology to improve service delivery, and the emphasis on holistic care that encompasses physical, emotional, and social well-being.

For example, highlight the demand for services tailored to specific health conditions or preferences, alongside the rising popularity of integrated care models that coordinate across different healthcare providers.

Key competitors

Then, consider the competitive landscape, which includes a range of providers from large national chains to local independent agencies, as well as emerging tech-based care solutions.

Emphasize what makes your agency distinctive, whether it’s through exceptional caregiver training, a comprehensive range of services, or specialization in certain types of care (e.g., dementia care, post-operative care).

Make sure to cover here _ Industry size & growth _ Key market trends _ Key competitors

Home Care Business Plan market overview1

Dive deeper into Key competitors

First, conduct a SWOT analysis for the home care business, highlighting Strengths (such as compassionate and well-trained caregivers, a comprehensive range of services), Weaknesses (including potential regulatory challenges or staffing issues), Opportunities (for example, an aging population and increasing preference for home-based care), and Threats (such as changes in healthcare policies that may affect funding or reimbursement).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain clients through targeted outreach, informative and empathetic communication, engaging online presence, and community partnerships. Emphasize the importance of building trust with clients and their families, showcasing testimonials, and highlighting the qualifications and dedication of your caregiving team.

Finally, create a detailed timeline that outlines critical milestones for the home care agency’s launch, client acquisition efforts, service expansion, and strategic objectives, ensuring the business advances with clear direction and purpose. Include key benchmarks for assessing the quality of care, client satisfaction, and operational efficiency to continually improve and grow your agency.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Home Care Business Plan strategy1

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the home care business’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the home care business towards its financial and operational goals.

For your home care business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Home Care Business Plan management1

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your home care business’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your home care business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Home Care Business Plan financial plan1

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    Executive Summary. The Executive Summary introduces your home care business plan, offering a concise overview of your agency and its services. It should detail your market positioning, the range of home care services you offer, including personal care, nursing care, and companion services, its service area, and an outline of day-to-day operations.

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