The furniture industry primarily sells household, outdoor, and office furniture. A large part of retail sales come from living room, dining room and bedroom furniture as well as upholstered and accent furniture. Desks and home office goods, lamps, recliners, rugs, and outdoor furniture make up the rest of sales. The U.S. furniture market is estimated to be worth $96.4 billion.
The outlook for the U.S. furniture industry continues to be very strong growing at a rate of 6-7% year-over-year, performing very favorably as compared to the overall economy as the sector is following the improving housing market.
Now is a great time to consider a furniture business - and Transworld is here to help. While consumer sentiment strengthens, the housing market continues to improve, and discretionary spending increases, growth for furniture businesses is anticipated to continue.
Therefore, as long as people continue to purchase and live in homes, they will continue to need furniture. In addition, product lifespan for the industry is between five and 10 years, so replacement purchases are frequently needed.
Consumers have generally accepted furniture stores as the main source for purchasing furniture because they are able to offer a wide selection and range of quality and, most importantly, the opportunity to test a product before purchase. The U.S. home furnishings store industry includes about 15,000 stores with combined annual revenue of about $27 billion. However, many companies are now looking towards their online retail channel to add benefits for consumers such as free delivery and installation and even same-day pick up.
Although the furniture business is a mature industry, there are some trends that will drive growth in the future. The rise of telecommuting and the need for home offices is driving the demand for home office furniture including desks, office chairs, and filing cabinets. Consumers have also been looking for furniture that is multi-purpose, versatile, and technology-driven, especially when it comes to living in smaller spaces. The demand for eco-friendly furniture is also on the rise. As it typically is more expensive, going green makes it worthwhile for manufacturers and companies to offer these products.
If you want to buy or sell a furniture business, we can help you. We introduce sellers to buyers as well as provide you with the best terms and value. Our approach to marketing and selling your furniture business ensures the best buyer selection and provides you the best representation to get the deal done right. Invest in the future by considering a furniture business for sale!
Click here to find our listings of furniture businesses for sale. Each profile provides a detailed description of each furniture business for sale, along with some basic business information, such as location, price, down payment, and sellers discretionary earnings.