Furniture flipping refers to buying used or outdated items at a low price, restoring or renovating them, and then selling them for a higher price. The goal of furniture flipping is to make a profit by improving the condition and appearance of furniture items that have the potential to be more valuable.
Furniture flipping can be a fun and creative way to make extra money, as it allows people to express their design skills and create unique pieces that can be sold for a profit. It can also be a sustainable and environmentally-friendly way to furnish homes, reducing waste by giving new life to old furniture.
However, it’s important to note that furniture flipping can also be time-consuming and requires a certain level of skill and knowledge. To succeed, furniture flippers need to have an eye for design, identify valuable pieces, and have the skills to restore and repair furniture items. Additionally, it’s important to consider the cost of materials and the time and effort involved in the process when determining whether or not furniture flipping is a worthwhile endeavour.
Research the market
To research the market, look for areas in your city or town where people are interested in unique, handmade furniture. You can also look at online places like Etsy, Pinterest and more to see what types of furniture are popular and trendy. There are two ways you can go about doing your business. You can buy old furniture, revamp it and sell it or transform people’s furniture for them for a fee.
Build a portfolio
Start by flipping furniture for friends and family to build a portfolio of your work. Take high-quality photos of your pieces and create a website or social media page to showcase your work and attract potential customers.
Find a workspace
Look for a space that is large enough to store furniture and has good lighting. You’ll also need a space with the necessary tools and equipment, such as sanders, saws, and paint sprayers. You can start this as a backyard business or cottage industry. Also, consider being mobile if you offer transformation services to people.
Invest in tools
Furniture flipping requires a lot of tools, and some of these tools will be highly specialized. It’s not an exaggeration to say that tools will be your biggest investment in this business. With the use of specialized tools comes the consideration around safety. It may be wise to get training for using some of these tools safely, particularly power tools.
Safety
Aside from the tools, you will also deal with potentially harmful chemicals such as paints, solvents and adhesives. It is important to understand how to handle these materials safely and have the capacity to do so. Invest in both knowledge and equipment to help safely use and dispose of these materials.
Source furniture
When sourcing furniture, look for structurally sound pieces with outdated finishes or fabric. You can find furniture at thrift stores, garage sales, and online marketplaces like Classifieds and Facebook Marketplace.
Refurbish and paint furniture
When refurbishing furniture, sand the piece to remove the old finish. Apply a fresh coat of paint or stain, and consider adding new hardware or upholstery to give the piece a modern look.
Market your business
Use social media to market your business and showcase your work. You can also participate in local markets and events to get your name out there. Consider offering free consultations or discounts to first-time customers to generate interest in your business. While equipment will be your biggest investment, marketing should be your biggest activity. A storytelling approach works well for a business like a furniture flipping.
Show your work. Show your pieces. Show the transformations if you are offering transformation to clients. Being cognizant of trends in furniture is also important and will help you in your storytelling.
Starting a furniture flipping business requires creativity, hard work, and dedication. You can build a successful and rewarding business with the right strategy and a commitment to quality.
