Written By: Shurbhi Thapliyal

Retail furniture is an industry that has dramatically transformed the last two to three years. Changes in consumer preferences, technological advancements, and growing demands for fashionable and workable furniture have spawned enough profitable franchise opportunities within the industry. One such brand known for fine quality and innovation in furniture making is Nilkamal Homes. Learn about growing and opportunities in a retail furniture franchise, focusing on the Nilkamal Homes blog, with insights for B2B clients and potential franchises.

Retail Furniture Industry Overview

Trends of the Present Retail Furniture Franchise Market

An upsurge in disposable incomes, growth in urbanisation, and a greater concern for home decor has increased the demand in the retail furniture market. According to estimates, the global furniture market is expected to have a CAGR of about 5% in the next five years, with the Indian furniture market growing at a faster pace. The online furniture market is fast becoming a slice of furniture retail, with many traditional retailers shifting their strategies to incorporate e-commerce solutions.

Consumer Preferences

The modern-day consumers are pragmatic as well as aesthetic, so the design of furniture has to be sustainable as well as look good. They demand things that have durability, customization, and innovative designs based on the needs of their lifestyle. This is a challenge for furniture houses as they keep innovating to meet changing needs.

Development of Franchising in Furniture Retail Sector

What is a Furniture Franchise?

A furniture franchise allows the franchisee to operate under a brand name, using the latter's repute, marketing, and supply chain. The franchisee enjoys existing operations systems, continuous support, and an already tested business model.

Advantages of Franchising

1. Brand Name: The franchisee gets instant market credibility with the association with a well-respected brand like Nilkamal Homes.

2. Support Network: Franchisees are taught and supported throughout their journey, guiding them over hurdles and running the business as efficiently as possible.

3. Readymade Supply Chains: Franchisors have potent supply chains ensuring excellent and on-time delivery to the consumers.

4. Marketing Service: The franchisor's rich resources in marketing are ensured to get maximum attention and increased sales.

Nilkamal Homes: A Case Study

Brand Heritage

This was in the year 1981, when Nilkamal Homes emerged as one of the top furniture brands in India. There is a vast range of furniture solutions for homes, offices, and outdoor places.

Product Offerings

Nilkamal Homes has an expansive portfolio consisting of:

• Living Room Furniture: Sofas, coffee tables, and entertainment units.
• Bedroom Furniture: Beds, wardrobes, and nightstands.
• Office Furniture: Desks, chairs, and storage solutions.
• Outdoor Furniture: Chairs, tables, and loungers for the garden.

Nilkamal Homes Franchise Growth Opportunities

Market Growth

Nilkamal Homes is on an expansion spree in India as well as globally. Its brand history of strength and quality in the product lines it develops puts the organisation at a great advantage to grow further. The franchisee can ride on that momentum and capitalise on the growing demand for quality furniture.

Target Market

Nilkamal Homes covers different customer groupings, which include:

• Customers: Families who require furnishing homes with stylish and practical pieces of furniture.
• Young Professionals: They are those in need of a trendy, space-saving solution.
• Businesses: These businesses are the companies which are looking for stylish and practical solutions for offices.

Investment and Financial Considerations

Initial Investment

Opening a Nilkamal Homes franchise requires a reasonable amount of initial investment. This comprises some of the following: franchise fees, inventories, and initial expenses in opening a store. In return, though, an investment seems worthwhile as this business owns an already known brand that offers the customers a well-organised support system.

Return of Investment 

The demand for furniture is on the rise, and investors will find healthy returns from their investment with franchisee involvement. Nilkamal Homes has always been a profitable concern, offering a well-researched and secure investment opportunity for people interested in setting up a furniture business.

How to Get a Nilkamal Homes Franchise

Application Process

Sufficient research about the brand and its products will be carried out by applicants. Expression of interest to join the family in the franchise is later done through an application.

Interview and Training

Qualified applicants are only invited for an initial interview to test their fitness for joining the Network. Once approved, applicants are given detailed training in operation, marketing, and customer services.

Opening of a Store

They will be working closely with the franchisor, Nilkamal Homes, to set up their store, ensuring that every angle is standard to Nilkamal's brand.

They can now open their store with the back-up support of marketing from the franchisor.

Marketing Strategies for Success

Digital Marketing

In the present digital world, it is through an online presence that brands find their success. The franchisee should have social media, email marketing, and all online advertising to reach customers in their area.

Local Marketing

Franchisees will have to tap into their local markets by hosting events, sponsorships, and other promotion tactics. Good community-based relationships can reap much quick sales for the franchisee.

Furniture Franchise Industry Challenges

Competition

Retail furniture markets are highly competitive. Brands worldwide have less than less market share; thus, the franchisee will have to focus on good customer service in addition to distinctive product lines that no one else has in the market.

Supply Chain Issues

Such incidents may also affect the inventory levels and customer satisfaction due to chain supply disruptions. The vulnerability is by maintaining open communication with suppliers by the franchises.

Future of Furniture Franchising

Sustainability and Innovation

The future of furniture franchising will be underscored by brands using sustainable materials and fulfilling this culture. A growing consumer base that is conscious of the environment will rally to brands that stress eco-friendly materials and practice.

Technological Advancements

Technological advancements will revolutionise the furniture industry as augmented reality showrooms and AI-driven design tools can be used to support the decisions of many consumers, making it revolutionary for franchisors for their franchisees to be competitive.

Conclusion 

Well-established brands like Nilkamal Homes offer a wonderful opportunity in the retail furniture franchise sector. Supported by the right kind of training and marketing strategy, the franchisee will find thriving outlet shelves in this growing market. Next time you ponder over buying stylish yet functional furniture and decoration for your home, now is the time to consider hooking up with a franchise.

Take the leap in the retail furniture franchise business. Partner with Nilkamal Homes and the quality and innovation with the brand. Contact us today for details about your franchising options and how to take those first steps into succeeding in this dynamic industry! Connect @FranchiseBAZAR for a retail furniture franchise today!

Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.