The Indian furniture industry is highly organized. And different types of furniture are available with a wide price range. The furniture comes with a variety of designs, materials, colour, and patterns. The object of crafting this article is to provide 7 profitable and trending furniture-making business ideas.
As of 2015, the total furniture market is estimated to be worth US$ 17992 million. And wooden furniture accounts for US$ 5358 million. And this sector in India makes a marginal contribution to the Gross Domestic Product (GDP).
However, home furniture is the largest sector in the industry. And it accounts for 65% of the total market share. The second-largest market is for office furniture and it accounts for 20% of total market share. Apart from the domestics market, there are a lot of opportunities for export.
The industry is growing rapidly. And according to the expert’s analysis, the Indian furniture market is pegged to be around USD 20 billion. The major reasons are increasing population, spending attitude for good living and people are looking for western design furniture. Some of the basic categories are
- Living room furniture
- Bedroom furniture
- Kitchen Furniture
- Drawing room furniture
- Office furniture
- Home office furniture
- Dining room furniture
- Entryway furniture
List 0f 8 Profitable Furniture Making Business Ideas
#1. Bamboo Artisan Furniture
Bamboo and cane artisan furniture is very popular as decorative furniture. This type of furniture is light in weight. Cane and bamboo essentially involve manual weaving of bamboo slivers to produce utility products like Sofa-sets, chairs, Tables, Raking-Chair, etc.
#2. Leather Furniture
These are popular as luxury and lifestyle products. Therefore, fetch a very inspiring margin to the manufacturer. Generally, these are popular as living room and dining room furniture for home use. And the largest market is for office furniture. You can start a leather furniture-making business with substantial capital investment.
#3. Plastic Furniture
Plastic moulded furniture is very popular in a wide range of the population. Because it offers features unavailable in conventional wooden and metal furniture. Such as easy maintenance, lightweight, durability, and economy. In addition, it contributes immensely to saving forests.
#4. Rubber Wood Furniture
Rubberwood furniture has a number of benefits, and manufacturers around the world use the material to create durable, affordable, and beautiful pieces. One of the biggest benefits of Rubberwood is its durability. Rubberwood has a dense grain character when compared to other types of wood. So people more and more intend to buy stylish looked rubberwood furniture nowadays. Furthermore, you can start manufacturing on a small scale basis.
Furniture Making Business Opportunities
#5. Steel Furniture
Steel furniture making is a lucrative business. You can find demand throughout the year. With simple machinery and raw materials, you can start this business. Even you can establish the unit at home. Nowadays, the steel almirahs, steel cupboards, and steel chairs find their extensive use in industrial, commercial and household activities.
#6. Wooden Furniture
Wooden furniture is the traditional home furniture in India. There are two main classifications – Hardwood and Softwood, based on their strength and is determined by its wood density. However, it caters a wide range of products. The list includes Teak wood, Sissoo wood, Satinwood, Sal wood, Rosewood, Pinewood, Mulberry wood, Mahogany wood, etc. You can start a wooden furniture-making business from home.
#7. Wrought Iron Furniture
Wrought iron is a specific type of iron alloy with very low carbon content in contrast to cast iron. The furniture and different home decor items are very popular nowadays. In addition, wrought iron furniture is the best choice for patio furniture. Read More…
8. Create an Online Furniture Store
You can start a furniture online shop in two ways. Either by creating an online shop to sell your own furniture products or by creating a dropshipping site selling products manufactured by others. If you are interested to create online and sell products online, check our detailed guide on How To Setup an Online Retail Store in India.
Nowadays, the eCommerce market is booming in India. And it provides immense opportunities to the small manufacturers. You can sell your furniture from different online marketplaces. However, quality, durability and attractive look are the major aspects of getting success in this business.
We hope this list of furniture business ideas and opportunities will inspire you to start your furniture business and make a good profit.
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.