Specialization in the retail industry
Specialization in the retail industry increases the likelihood of success and profitability. Opening a retail mattress store is an excellent example of specialization in the retail furniture sales industry.
Mattresses and bedding products have a lifespan of about four to eight years. This is one of the numerous reasons that starting a retail business selling mattresses and bedding products is such a wise choice for a new business enterprise. Furthermore, consider adding institutional sales to the business, meaning hotels, hospitals and nursing homes. The addition of institutional sales as a sideline for this type of retail business can add a significant amount of revenue to the overall yearly sales of the business and, more important, beef up the bottom-line profits.
For example take Mattress Next Day, they offer the full range of common mattress sizes including: King Size Mattress, small single, single, small double, double, super king, and odd sizes. Their customers can find the common sizes listed on our website but, Mattress Next Day can have a mattress made to any size their customer’s need and have it delivered to your door, within 3 to 4 days of your order. Our Promise!
Although there is not a uniform rating for mattress firmness in the UK, Mattress Next Day have a rating scale that aims to describe what level of firmness is best for their customers.
Some big mattress distributors license agents to sell products under their names. You can be one of their dealers. Try to research for the names of famous mattress suppliers in your state and locate their Web sites. In the site, look up for information on how to become a dealer. Becoming a dealer for another company means subscribing to how they do business. You have to meet their specifications from how to put up the store to how to sell to customers.
Alternatively, if you have prior experience in retail, perhaps as a salesperson for a mattress store, you can open your own business using the knowledge and contacts you have gained from your previous work.
You will have to:
- See how much capital you can afford and how much you are willing to raise from relatives, friends and the bank.
- Determine where you can buy mattresses at wholesale prices
- Determine where to locate your store and construct your own building, buy an existing facility or enter into a lease
- Hire and train salespeople
- Get the necessary permits and licenses to operate your store
