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I worked for a furniture store. They used to buy mattresses and furniture sets for like $200-300 and arbitrarily sell them for around $700-1000. I used to be able to haggle with people and still sell them for like double what they cost. I hated that job for so many reasons
We used to live near a furniture store. It had a going out of business sale when we moved in. The sale was still going on when we moved out 6 years later. Then I started noticing how many other furniture stores seemed to be having going out of business sales.
Used to work in garden/hardware supply company. The best selling product cost $16 for manufacturing and delivery to our warehouse from China. They would sell in [national hardware chain] for $699. It was about a 40% markup in store, the rest of that $699 was eaten up by warehousing, shipping and staffing costs. If you couldn't move that product in a reasonable timeframe then you'd start losing money on warehouse costs.
I figure most items I've purchased are 40% profit, 50% warehouse/shipping/staffing, 10% manufacturing/import.
Sounds like I found my next job. I am a sleepy salesman
Curious where they were processing l purchasing their furniture from. Would someone be able to purchase an individual set, or is it wholesale only?
A lot of companies only sell it low for high volume.
We would purchase the furniture from a wholesaler, but our customers would be able to purchase a whole set from a collection or just individual pieces.
I just found it interesting how cheap we were able to purchase certain items but how much we would resell them for.
That's typical retail markup