Starting your own home decor business is a great way to earn extra money. It's also a fantastic side business opportunity if you're looking to make money from your house and invest in something you enjoy doing.
While there are many steps that you need to take before you launch your home decor business venture, it's not as difficult as you might think. In this article, we'll take you through the process of how to start a home decor business.
What is a Home Decor Business?
A home decor business is a small business venture where you sell home decor items, such as decorating supplies, furniture, kitchen and bathroom accessories, bedding, and more.
This could be a side hustle you do on the side, or you may even want to open a home-based business to earn more income. There are a few things to consider before starting a home decor business.
This business is different from e-commerce or traditional retail businesses. In this business, it is not required to have a storefront or a physical location. Therefore, you can do it from your garage, kitchen table, or bed.
In addition, if you are looking to start a home decor business that is more focused on specific products, like furniture, lighting, rugs, or housewares, then you would be a direct-to-consumer business.
How to Start a Home Decor Business?
Before successfully launching your home decor business, it's important to have a clear goal in mind. What do you hope to accomplish by starting a home decor business? What are your long-term business goals? If you don't have a plan in mind, it will be challenging to succeed at creating a home decor business.
Once you have a goal in mind, it's time to think about how you'll achieve it. Depending on the type of home decor business you're starting, there are several options to choose from.
For example, suppose you want to start a gift wrap and shipping business. In that case, you could either advertise in local directories, websites, and newspapers or post on Craigslist.
Set up an online store: You can start your online store and sell your goods. You'll need a website, the right photos for your products, and an eye for design. Suppose you don't have the time to set up a website and market your products. In that case, you can also use an online marketplace such as Etsy, Shopify, or Amazon.
Set up a consignment shop: Create a consignment shop where you charge a fee for each item you sell. You can set up a consignment shop using a website such as eBay or PayPal. You can also use Instagram to display many photos of your consignment items.
Host a trunk show: Host a trunk show where you bring samples and products to various locations. You can host a trunk show on your own, invite friends and family to attend, or rent a space.
Types of Home Decor Businesses
Home furnishings - Rugs, lighting, furniture, decorative accessories, and more.
Custom home products - Unique items that you make for customers.
Web-based home decor business - An online retail store. You'll need to find a way to get your products to customers.
Other Types of Home Decor Business
- Online Store: One of the most popular home decor business types, selling products through an online store. You can start an online store using Amazon, Etsy, Shopify, or other platforms. You can also use Instagram to promote your products and earn money.
- Event Planning: If you love organizing parties, hosting events, bringing people together, hosting a trunk show, or taking part in other events, you can start a home party planning business. You can charge fees for these services and set up a website or social media pages to book clients and promote your business.
- Design: If you love designing or have a unique skill set, you can sell your services as a designer. This can be done through an online store or other channels. You can also sell your products to create a recurring income.
- Other Business Models: Other popular home business models include booking services, teaching, and health products.
How to Avoid Being Stuck with a Home Decor Business
One of the most common reasons people don't make it in their home decor business is that they are not prepared for the work.
You must be prepared to show up every day and do the work to make your home decor business successful. If you're not prepared for this, you're setting yourself up for failure. You must be ready for the work, not looking for an easy way out.
Your home decor business will require a lot of work. It might include crafting shows, sourcing products, marketing your products, and more.
You would like to read- How to Start A Candle Manufacturing Business?
Conclusion
Now that you've learned how to start a home decor business, you're ready to go for it. Remember, though, that there are a few key elements we've mentioned above that you should focus on. You'll find it much easier to launch your home decor business when you do.