If you are wondering how to start a curtain business, you have come to the right place. Starting a drapery or curtain business is an excellent entrepreneurial opportunity as long as you have an USP(Unique Selling Proposition) to beat your competitors. In 2020, the country’s average expenditure on curtains and draperies amounted to 13.5 U.S. dollars per consumer unit. It’s for these reasons that curtains and draperies are not only high-demand products, but they are also fast-selling accessories for use both at homes and offices. so how to start your own curtain or drapery business? Well, here is a step by step guide to start a curtain or drapery business from scratch.
1. Curtains And Drapery Business Plan
A common mistake for a lot of young entrepreneurs is not creating a business plan. Without a business plan you will be flying blind, therefore it is an important step. A curtain and drapery business plan not only helps you strategize your business growth but it also helps you to achieve short-term and long-term objectives.
Make sure you include your start-up costs, estimated cash flow, and your marketing plans in your business plan. This will make your curtain business plan business a core document which you can check in for yourself and make sure you are meeting your goals and achievements.
How much does it cost to start a curtain business?
Realistically, you can start a curtain business from $2000 to $5000. This startup cost will mainly depend upon two things.
- Cost Per Unit
- Minimum Order Quantity(MOQ)
Cost per unit, as the name suggests, is the cost incurred to produce or source a single unit of curtain. On the other hand, Minimum order quantity or simply MOQ, is the minimum quantity of order the manufacturer or supplier will take if you want to source your curtains and drapers with them.
If you want to use WholesaleBeddings as your supplier for curtain and drapers, they offer wholesale accounts for just $500 minimum order. It is a great place to start. Other option could be to source from China through Alibaba or AliExpress.
Don’t want to hold any inventory at all? You can try dropshipping model to start your curtain business. This way, all your expenses will be concentrated on starting an online store and marketing only.
2. Competitor Research
Prior to starting a curtain business, analyzing your local competitors is key. Be sure you fully understand the competitive landscape and where your curtain business will fit in. The purpose of a competitor analysis is to understand your competitors’ strengths and weaknesses in comparison to your own and to find a gap in the market.
Networking With Competitors
Business networking is an extremely intrinsic way to broaden your knowledge, learn from experts, market your business, and attain new customers. Make use of social media to network with industry experts so you can nurture professional relationships that will directly or indirectly benefit your business.
However, a fellow entrepreneur who has started a drapery and curtain fixtures business is highly unlikely to give you any business advice. In that case, try to network with similar business owners from another town. They will be more likely to talk with you, provided that you won’t be directly competing with them. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs.
3. Register your Business
Registering your curtain and drapery business will help to protect you against any legal problems from government in future. Furthermore, it also helps you establish your curtain business as a credible entity which in turn strengthen the relationships among customers and suppliers.
The most popular business structure to register your curtain and drapery business is an LLC(Limited Liability Company). An LLC provides your business with a safety blanket from bankruptcy and other business lawsuits. Although this blanket of protection is not full proof, it is significantly better than operating your curtain business as a sole proprietorship entity.
Once you successfully register your business, the next step is getting an EIN(Employee Identification Number). EIN is a 9-digit number provided to every business by IRS to identify them as tax-paying entities. You will need an EIN in every phase of your business from opening a business bank account to hiring employees for your business. It is even a necessity while filing yearly tax returns. Fortunately, applying for an EIN is simple, free and completely online. Head over to IRS website to obtain your EIN today.
4. Launching your Curtain Business
You have learned how to start a curtain business. Now I will talk about launching a curtain business online. The very first thing you will need is a professional website to sell your products online. Shopify offers excellent tools and resources you can use to build your online store yourself, without needing any web developer.
However, if you want to hire someone to do it for you, our $499 digital package comes with a website, digital marketing services, SEO services, social media management and logo designing services included. The best thing about this package is that it comes with unlimited edits and lifetime support. We just want to make sure, you leave all the technicalities on us, while you focus on acquiring customers for your business. Contact us to get the deal today.
5. Marketing Strategy
The marketing strategy for a curtain business should consist of two channels -Paid and Organic. Paid channels are also known as social media ads. And organic channels include social media networks, website, SEO etc. Having a mixture of both will take your curtain business a long way.
Make sure you create and book the usernames for all the social media platforms. You should post content regularly and engage with the audience. Better engagement with your followers will help you find loyal customers. Keep in mind, loyal customers can never be bought through paid ads, it is always earned through better a customer service and an excellent product.
And lastly, always remember the 5 P’s of marketing – Product, Price, Promotion, Place and People. These are the 5 key marketing elements you can use to position your curtain or drapery business strategically.