Have you ever been complimented on your taste in home decor or have a knack for breathing new life into old pieces of furniture? If so, you may have the skills needed to start a Profitable Furniture Flipping Business. However, it takes more than just a talent for decorating to turn your hobby into a successful and profitable venture. In this post, we will discuss some tips and tricks on how to schedule your new furniture flipping business into your daily life and treat it like a business instead of a hobby.
Remember if you want it to make you money… you must treat it like it will make you money!
So, let’s talk about how to turn your Hobby to Hustle: 5 tips to Starting a Profitable Furniture Flipping Business
- The first step to treating your furniture flipping business like a business is to set a schedule. You need to decide on the hours you want to work each day and stick to it. Treating your business as a hobby means you work on it when you feel like it, but a Profitable Furniture Flipping Business requires dedication and consistency. Creating a schedule will help you stay focused and productive, allowing you to manage your time better.
I am not good at detailed schedules, so I typically set a block of time aside to complete a list of tasks, block scheduling. I factor my home life and family time into this also. So nice big chunks of my days (each day of the week is different due to other obligations we have as a family)
- After setting your schedule, you need to plan your projects in advance. One of the keys to a successful furniture flipping business is to plan each project carefully. This includes deciding on the type of furniture you want to flip, the materials you need, and the estimated time it will take to complete each project. By planning your projects, you will stay organized and ensure that you have all the necessary materials on hand. This will also help you manage your time better, making it easier to complete projects on time.
I do have a PROJECT TRACKER that can track your time, supplies, costs and online listings and social media. This makes each project easy to keep track of everything as a seasoned refinisher I have developed this over time! Check this tracker as it will help you make sure you are aware of your expenses in both time and money a must for you to run a Profitable Furniture Flipping Business.
- Another crucial aspect of treating your furniture flipping business like a business is to keep track of your finances. You need to track your expenses, profits, and losses. Keeping an accurate record of your finances will help you understand the financial health of your business. Use a spreadsheet or software program to keep track of all your financial data, and ensure you have a solid understanding of your revenue and expenses.
I don’t pretend to be a financial advisor so I wouldn’t even know where to start suggesting a program to help you track everything for taxes etc. so I don’t have any links for you for this one. I do suggest keeping very detailed lists of expenses as well as possibly hiring someone to do your taxes.
- Building a strong online presence is essential for any business in today’s digital age. Therefore, you need to create a website, social media profiles, and listings on online marketplaces to promote your business and reach potential customers. You can also consider running targeted ads on social media to get your brand in front of more people. Building a strong online presence takes time, so start early and be consistent with your efforts.
Don’t know where to begin? I got you here too! VIP MEMBER GROUP! Check it out!
- Networking with others in the furniture flipping industry is another critical aspect of treating your business like a business. By attending trade shows, joining online groups, and connecting with other furniture flippers in your local area, you can learn new tips and tricks to help grow your as a business. Networking can also help you find new clients and business partners.
Try out our Facebook Group that helps you grow as a refinisher: the free… yes FREE group – Furniture Refinishing Academy for a positive and honest group to help you grow.
- Finally, to be successful in the furniture flipping business, you need to stay inspired. Keep up with the latest trends in home decor and design, attend workshops and seminars, and always be on the lookout for new ideas and inspiration. A successful furniture flipper is always learning and expanding their knowledge base.
Pinterest is a great way to do this! Check out the thousands of organized pins I have on my Uniquely Grace/Furniture Refinishing Academy boards. I hope they inspire you like they do for me!
Turning your furniture flipping hobby into a Profitable Furniture Flipping Business requires dedication, hard work, and careful planning. By following these tips and treating your business like a business instead of a hobby, you can turn your passion into a successful and profitable venture. Remember to set a schedule, plan your projects in advance, keep track of your finances, build a strong online presence, network with others in the industry, and stay inspired. Good luck on your furniture flipping journey!