Buying furniture in bulk can seem like a gamble, if you are unsure as to what you would be getting. But there could be some hidden issues, such as damaged, missing parts, mismatched pieces or not having the right product for your market. Buying overstock furniture with an informed strategy ensures you get the perfect new pieces to spruce up your showroom, furnish rental properties or boost your online store. However, if you purchase the wrong items you could end up with tied up capital and hard to sell products.
1. Know Who You Are Buying For
Consider what type of customer you have. If you are providing family furniture for their first home they may want functional and durable products. Whereas a hotel may want coordinated pieces. Think about the size of the rooms, what material they want, price bracket and the styles they are asking for. This will ensure that you are buying the right overstock furniture in bulk for your realistic customer. Think about the seasons and what is popular locally.
Some people may want to buy patio sets but these will be more noticeable before the warmer months. Desks and storage will be useful all year round. Think about what styles will be most popular. Look at previous orders, questions asked and what products they enquired about. If you are new to that category, start small with a smaller range. Consider what will be popular. For example, apartment living may want nesting tables, slim line consoles and storage beds. Whereas commercials may want strong desks or stackable seating.
2. Check The Condition
As the price per item is low, you don’t want to end up receiving items that aren’t in good condition. Ask for current images, condition reports and packaging information. Ensure you know what they are, are they brand new, opened, returned, refurbished or pulled from shelves? If they are returned furniture, ask for detailed images showing the corners, legs, joins, fabric, drawer runners and tops. Ask if they include fittings, shelving, cushions and instructions.
3. Materials Used
The materials used can affect how the product performs. Wood (Solid, Veneer & Engineered), metal, glass & fabric can all be very different. Check the weight, joins, coating and care instructions. If they are fabric or coated, ask for care instructions so your customers will know how to look after their items.
If they are a closeout, ask for a manifest that includes product name, quantity, size, material and condition. This will help with understanding demand, storing the items and identifying any discrepancies.
4. Total Landed Cost
Look at the total cost. This will include delivery, loading/unloading, storage, inspecting, cleaning, fixing, assembling and any tax/duties. Divide by the amount of items you will be able to sell. This will give you a better idea of how much you will be paying per item. For example, if you are a retailer looking to buy 20 tables and 2 need fixing and the delivery cost is higher than expected then your cost per table will be higher. Allow for any handling costs.
5. Are You Going To Have Enough Space?
Large items can take up a lot of space in your warehouse. Measure the doorway, walkways, loading area and vehicle you are using. Ensure you know if they are fully assembled, flat packed, nested or on pallets. Ask for the dimensions of the packages. Consider how long it will take you to receive, sort, photograph and display your discounted furniture. Ensure you know when they will be delivered, if you need access, how many pallets and who will unload.
6. Product Range
Even though the individual items may be nice, you may struggle to sell them. Ask if there are any useful combinations. Dining tables with matching chairs, bedroom furniture with matching storage or desks with office seating. Ask if they can be changed, can you see the quantities? Ensure there isn’t any duplication, old colours, odd sizes and special assembly for closeout items. If they are varied they may be ideal for a discount outlet. Whereas if they are matched they may be good for a showroom.
7. Supplier And Terms
A professional supplier will be clear with what is included, how they describe the items and what will happen if the items don’t match what was agreed. Ensure you know who they are dealing with, their contact details, payment terms, delivery and paperwork. Be careful with the invoice and conditions of the lot. Ensure any key promises are in writing. Ask the same questions to any bulk furniture suppliers. Be wary of anyone pressuring you to pay up front, being vague or not giving you basic proof of the items.
8. How You Will Send On
Consider how you will send on each item. Retailers may want images, measurements, assembly instructions and honestly note any cosmetic damage. Contractors may need to organise delivery to specific sites/rooms. Online sellers may want to know if they can be sent with protective packaging and if they will be expensive to send due to their large size. Have a simple process to receive the items. Count the amount of cartons, take images of any obvious damage, check quantities against the manifest, sort into good/bad and note any missing parts quickly. This will create a record of what is different.
9. Don’t Overspend.
Don’t purchase more than you have space for or can move just because they are on a great discount. If possible, start with a small amount. Consider how long the items may be in your space and ensure you are not losing money you need for day to day running. Consider how long you will be able to sell them for and what margin you will need. Ensure you have considered the condition, range, landed cost, transparency and demand from your customers. Use your calculations and agreed specs to buy overstock furniture.
Final thoughts: Buy Quality Overstock Furniture in Bulk from Dynamic Distributors
The best bulk purchase will not necessarily be the largest range or cheapest. It will be the range you understand, can safely receive and that you have a realistic plan in place to send on. If there is anything you are unsure about, hold off until you know.
When buying overstock furniture for retailers, resellers, property management and furnishing businesses you should ensure you are making decisions which will benefit your customers and keep your cash flow healthy. Dynamic Distributors can help business buyers find opportunities within overstock, surplus and closeout ranges. Tell us what pieces you need, how many and what condition. We will then help you see what information we have available. Using a thoughtful process will mean you can turn excess stock into a realistic opportunity.
