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Table of Contents
India’s furniture market has grown significantly in recent years due to several variables that reflect the nation’s changing lifestyle and economic environment. There is a rising need for aesthetically beautiful, functional and reasonably priced furniture as urbanization quickens and disposable incomes increase. Notably, the growth of e-commerce and online shopping platforms has dramatically increased the reach of furniture stores, enabling customers from many places to access a wide selection of furniture alternatives conveniently. The expanding furniture market offers excellent chances for businesspeople who want to enter this sector and take advantage of the rising demand for contemporary and practical furniture. The value of the Indian furniture market was roughly USD 23.12 billion in 2022. The market is expected to continue growing from 2023 to 2028, with a predicted compound annual growth rate (CAGR) of 10.9%, driven by the rapid pace of urbanization.
The following is a list of crucial registrations and licenses you should take into account:
You can build a strong foundation for the furniture business by doing the following:
In conclusion, starting a furniture business in India is an opportunity with potential and promise. The dynamic furniture market and India’s changing customer demands and economic expansion provide a fertile environment for business success.
The furniture business is profitable in India. The profit margins generally are around 40%.
The market is expected to continue growing from 2023 to 2028, with a predicted compound annual growth rate (CAGR) of 10.9%, driven by the rapid pace of urbanization.
The general range for the minimum capital required to start a furniture business is between 10-12 lakhs.
The average profit made by the furniture companies is around 40%.
Yes, furniture retail is profitable to a certain extent. A furniture business is one simple and most accessible business you can start.
To have a successful furniture business, deal in the best quality products, do not compromise on the quality of raw materials, advertise your business, provide good customer service etc.
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