August 23, 2021 | Furniture Concepts
Your Business Plan Must Include Furniture Investment
In the business world, the hunt for revenue never stops. You’re always on task to acquire new customers and clients, while keeping up relationships with the existing ones. And once the revenue hits the books, you need to make the most of it, whether that means investments in personnel or infrastructure, paying down some debt or chalking up hard-earned profits.
Occasionally, an unexpected expense can surface that cuts into the margin. Most organizations have strategic financial plans in place that account for such situations, allowing the business to absorb the expense painlessly. But others—especially small businesses that operate on a cash basis—feel a rather acute sting when an air conditioner quits or a roof starts to leak.
Experts advise that every strategic plan should include some long-range capital planning. In other words, your budget should be designed to account for depreciation of your facilities and campuses, with advance planning for maintenance, upgrades, replacements and new investments.
Without a good plan, surprise expenses can pile up fast. And unfortunately, those expenses often happen at the worst possible time.
Invest in furniture
Consider your investment in furniture. Certainly, furniture serves a functional purpose—your clients need a place to sit, eat or sleep—but in today’s competitive arena, it can be part of a larger marketing campaign as well.
Fresh, clean common spaces, bedrooms and dining rooms invite prospective customers to discover your brand and the capabilities you have to offer them. Well-thought interior design also differentiates your site from the competition. Of course, threadbare sofas, scratched tables, broken chairs and dirty upholstery do very little to acquire or retain customers.
As you create your business plan, include an adequate budget to buy and replace furniture, not just as a necessary capital expense, but as a marketing investment that is tied to increased revenue. Remember to examine your purchases in a long-term context, not just as one-off line items.
Here at Furniture Concepts, we understand the value proposition of furniture investment. That’s why everything we design and ship is made to meet your needs with the industry’s best warranties that ensure your pieces are built to last.
Our popular TOUGH STUFF collection is engineered for high-use living environments with solid wood construction plus water-resistant lacquered surfaces and laminate tops that repel spills and pests. It’s durable enough to look great even after years of use. (Often with resale value too!)
Our Durable Sofas and Chairs for student housing, camps, healthcare and group home settings create the look and feel of home with hundreds of healthcare-grade, fluid-resistant and stain-resistant fabrics and vinyls to choose from. The collections are both functional and stylish, right down to the details.
Need easy clean up? We’ve got that. Prefer motion seating or comfy recliners? We’ve got that too—with the incredible durability we stake our name on.
When creating your strategic plan, include an investment in long-lasting, durable furniture that doesn’t need to be replaced year after year. While that “inexpensive” retail furniture might seem like a bargain, it will quickly depreciate into an unexpected replacement expense.