Refinishing old furniture can be a worthwhile full time or part time home business but then it should be approached as a business and not as a hobby. Since we are looking at a home business it could be argued that a business plan will not make a significant difference to the establishment of the business. The biggest advantage of a business plan is that it forces you to think through a process of how you visualize the development of the business. Like with any business, the aim is to grow the business and to make a decent profit. Setting attainable goals will help to achieve those aims.
When compiling a business plan, the following questions should be answered:
- Why do I want to start a furniture refinishing business?
- What will my business do to be different from the rest?
- Who is the ideal customer?
- What do you want to achieve in the first year?
- What steps will you take to attain those goals?
- What will it cost?
- What will be your pricing strategy?
The final step is to do a SWOT analysis to identify strengths, weaknesses, opportunities and threats. This analysis will hopefully assist you to avoid future problems.
If you are thinking of starting a home business refinishing old furniture, you will find all the information you may need to get started in "Refinishing Old Furniture - start a home business".