If you’re interested in starting your own home accessories business, there are many important steps to take in order to ensure success. While most home decor stores have a modest profit margin, they can be quite profitable. A good margin for home decor stores is 25% to 47%, and this can allow you to advertise offline and reinvest the profits into stocking your business with more items. Listed below are the top steps to taking.
First, you’ll need to find a source of funding. Home decor startups can use friends and family to provide financial assistance. Crowdfunding sites can also be a good option as these allow multiple investors to invest in a business. Other funding options include personal savings or selling assets. Bank loans, SBA loans, and crowdfunding are the most common financing options for a home decor business. If you’re planning to sell products that are not readily available in retail stores, however, you’ll have to find another funding source.