Furniture Store Business Plan Template

Competitive Analysis

Modern Mode Furniture Store will face competition from other furniture stores in the area. A profile of the competitor companies are below.

 

Direct and Indirect Competitors

Room & Board

Founded in 1980, Room & Board is headquartered in Minneapolis and its Seattle location is located in University Village and is an open-air shopping destination just north of Seattle. Room & Board carries contemporary furnishings and unique home decor. Customers are able to complete room settings with the large selection of furniture layouts. There are tenured Design Associates that are ready to help with any design dream or dilemma. Room & Board won Seattle Magazine’s Readers Choice Poll for Best Furniture Store in 2015, 2016, and 2019 and was named a Fast Company Most Innovative Company in Retail in 2019. Room & Board delivers exceptional service, low prices, fast and easy returns, and a guarantee. They specialize in trend-proof style, American craft that is sustainable by design. American manufacturers make up more than 90% of the furniture and decor, which supports local communities, businesses, and craftspeople around the country.

Room & Board offers living, dining and kitchen, bedroom, bath, storage and entryway, kids, office, outdoor, lighting, rugs, and home decor.

Alchemy Collections

Alchemy Collections is located in downtown Seattle and is the western Washington source for modern and contemporary furniture. Sensing a void in the Seattle furniture landscape, Alchemy Collections opened in 2004 to bring a modern yet accessible and affordable venue to accommodate the everyday Seattleite.

Alchemy Collections sells everything from modern Italian furniture lines like Calligaris, Bontempi, Gamma and Saba to domestic contemporary brands like Chilewich, Focus One Home, and BDI. The staff is committed to making customer service their priority and not putting a sale before the customer’s needs. They work to make sure that each customer leaves with the perfect product for their modern lifestyle.

Alchemy Collections offer living, dining, bedroom, office, outdoor, and accessories. Customers are able to purchase by email, over the phone, or in person. Non-returnable items are custom orders, bedding, and sale items. Alchemy Collections also offers a 1-year warranty on most items.

Blu Dot

Located in the historic Colman Auto Building in the heart of Capitol Hill, Blu Dot Seattle’s 5,800 square foot, timber-framed space highlights new furniture designs and bestsellers alike. The modern furniture store is home to a site specific collage that includes early sketches of products, images of prototypes, and references to things that inspire their work – music, architecture, and everyday objects.

Blu Dot was established in 1997 by two college friends who shared a passion for art, architecture, and design. After architecture school, they went looking for modern designs to furnish their first homes but couldn’t find anything they liked that was affordable. They collaborated with a sculptor and started Blu Dot soon after. Blu Dot is focused on creating products that are useful, affordable, and desirable. Today, Blu Dot has stores in the largest cities of the United States, as well as Mexico City, Monterrey, and Sydney.

Blu Dot offers living, bedroom, dining, office, lighting, outdoor, kids, and accessories.

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Competitive Advantage

Modern Mode Furniture Store will be able to offer the following advantages over their competition:

  • Trendy and contemporary furniture that is well-crafted and sustainable.
  • Competitive pricing and money back guarantee.
  • All products will come with a 3-year warranty.