More and more homes are now going for designer bathroom faucets and designer shower faucets. If you are interested in starting a lucrative business, then designer faucets industry is one of the best niches to consider. You have a great scope for this business, as this is one of the fastest growing segments in the US.
One of the best business models to consider in this niche is to source OEM faucets from China and to sell them in your own brand name. This might sound simple but when you actually set out to execute this plan, you are likely to learn that it is easier said than done.
Before you get started, you should first identify your competitors. This is one of the best starting points because your competitors that are already in business would have done their research before they listed the products that they are currently selling. They would also have tried various marketing strategies. You could benefit from all such experiences of your competitors. The idea here is not to just imitate what they are doing but to take your efforts one-step ahead of theirs and do better. Instead of wondering where to get started, making a competitor analysis is one of the best ways to get started.
Building a good business in the designer faucet industry involves two major areas. The first component is sourcing the right range of products from the best OEM suppliers and the second major component is marketing your products. Look for well-established OEM suppliers in the faucet industry. You do not want to tie up with a company that is struggling to survive. You would rather need a supplier that comes with a vast experience and a series of success stories. Collaborating with such companies will help you leverage their success and transfer it to your business. The products of such successful companies have been proven to sell and this will make things easy for you. It is much easier to sell a shower faucet model that has proven track record than trying something that has no history of success.
Once you have identified the right range of products and the best quality supplies, from a trusted supplier, the next step is brand promotion. You need to have multipronged approach to marketing instead of using just a single strategy. Try to reach plumbing contractors and building contractors because they are likely to place bulk orders as opposed to individual homeowners. This does not mean that you should not reach out to such retail customers too. Your major focus should be on the contractors because this is where your bulk sales are going to happen.
Make sure you are consistent with the quality of the faucets that you promote. Try to push your products through both online and offline avenues. Customers from both segments are important. You need to have multiple avenues to reach your customers and limiting yourself to just one or the other platform is not useful.