Hey ya'll! I'm from Texas so I had to throw in the the greeting. Anyway, I just look forward to the post and learning more about the furniture I sell. Ha. I've seen the decline in quality over the past decade and have decided I have to upgrade my current suppliers. In part to differentiate myself from the "Big Box" retailers that are taking over. Any help with recommended medium priced lines will certainly be considered.
Thanks and have a great day!
Its hard to be value-oriented these days. Many good mid-priced lines are either gone or have raised their prices too much. Without knowing your store or market its hard to recommend something, so tell us a little more about yourself. Hope your weekend is great.
Steve
We have sold Broyhill as our main supplier until about 2 years ago. Having products made overseas has certainly led to a decline in quality from what I've seen with them. We carry La-Z-Boy, Broyhill, Riverside, Sealy and Serta. I found WoodCo Turning a solid wood manufacturer for my dining room that I really like and mid price points. I would love to find a nice solid bedroom company to replace Vaughan-Basset and Broyhill on my floors as well.
Check out Carlton, Palliser, Klaussner, Hickory Hill (depending on how the Norwalk deal goes) for upholstery. For dining there's also Bermex and Saloom. Can't help you with bedroom.... we're more contemporary oriented so I don't know who would be a good alternative to VB. Sealy and Serta are nice bedding lines, you should consider Tempurpedic as well.
Tough call. Right now the hardest market segment is smack in the middle. I have high-end in my store, and its more niche, but it seems my business is actually a bit brisk - contrary to what most are seeing.
My observations:
* There is a definite backlash against imports, that started with the lead paint on toys, and was further compounded by the pet food 'gluten' occurences. That has crossed over into other consumer goods as well, including furniture. USA-made is the way to go.
* Sell quality vs. price. At least in my market. Too often, stores rely on focusing on price points. Everyone wants a deal of course, but most of all they want a piece that will hold up over time as well.
* Treat your customers like family. That's a huge aspect of this business. Be honest about your products and making coming to your store fun. Not with silly gimmicks, but just know their name when they walk in and chat a while about something not furniture-related.
As for furntiure lines, take a look at Flexsteel. All but the 'Lattitudes' collections is made in the USA, they have good POS support, the product holds up well (though its not finely tailored), and prices are reasonable. Flexsteel is actually on a 'up' trend with their business, so they're doing something right. Finally Hancock and Moore if you can draw high-end customers. That brand is finest upholstery line - is virtually problem-free in all aspects, and is a great company to do business with.
Duane Collie
Straight answers from thirty-six years in the business.
My Private Messages are Disabled - Please ask questions here in the forum.
I just want to thank you all for your comments! I'm thinking the higher end is certainly the way to go. Wish me luck, I'll need it. I hope your business continues to grow Duane, you seem like a great person.
We are within a few miles of 4 of the largest furniture stores in the country and it has certainly hurt me some but by moving up in quality at least I can distiquish myself from the pack.
Hope it works out! I am constantly re-thinking my business. I know a lot of store owners who fail to do that and work on models of years past. Some adhere to margin-based pricing and will not deviate. That worked in the 80's and 90's but is the kiss of death today. Others that are failing rely too much on the word "SALE" and the smoke and mirrors that come with all that. Consumers are too smart to fall for that today
I structure my business on Value. I find the highest quality at the best price points, and trust my customers to have the knowledge to know the difference (and if they want to learn the ins and outs of furniture, I'm glad to sit down with them and explain it so they can make an educated decision).
What I have discovered is if you always offer Value - then follow it up with Service, you will become the trusted source, and your customers will always give you the first chance at their business when they need something else for their homes or offices. You may not get every sale, but you usually get first shot at it.
I don't even advertise. Can't recall last time I ran an ad! Why? Because ads are expensive. I rely on word of mouth and repeat business and by not spending $ 100K a year on ads, I can reduce retails another couple points adding in more value once again.
Push your suppliers to offer you incentives for floor stock deals. A lot of times you really have to put the heat on them to do so, but they eventually will. Then take those added dollars you just got and price it into the goods so you can offer even more value to the customer (don't use them as margin-builders).
Its all about turn in the store and your customers leaving happy. Treat folks right and honestly and you will never lack for business.
Duane Collie
Straight answers from thirty-six years in the business.
My Private Messages are Disabled - Please ask questions here in the forum.