6. Hardwood Refinishing Services Offering hardwood refinishing services can expand your product offerings without requiring inventory. Many homeowners prefer refinishing their existing hardwood floors instead of replacing them. Having trained staff or subcontracting refinishing services is an excellent way to capitalize on this market. 7. Cash and Carry Products (Overstock, Discontinued, One-of-a-Kinds) Selling overstock, discontinued items, and one- of-a-kind products at a discount is a great way to move inventory quickly while appealing to bargain shoppers. It can also attract impulse buyers or customers looking for a budget- friendly option. Promoting these items in a specific section of your store can drive traffic. 8. Blinds Window treatments like blinds, shutters, and shades are a complementary product to flooring. Many customers who are renovating or updating their flooring are also interested in updating their window coverings. Offering blinds as a cross-sell can boost revenue while enhancing the customer experience by providing a one-stop shop for home improvements. 9. Cabinets Cabinets, particularly for kitchen and bath remodels, pair well with flooring sales. These larger ticket items can dramatically increase your average sale amount, and offering them allows customers to complete more of their renovation in one place, saving them time and effort. 10. Shop-at-Home Services Offering shop-at-home services provides customers the convenience of selecting flooring from the comfort of their own home. This not only differentiates your business but also allows you to upsell other products like trims, transitions, or cleaning services. In- home consultations provide a personalized experience, making it easier to close higher- value sales and increase customer satisfaction.
11. Area Rugs Area rugs are a versatile and profitable addition to any flooring store. Customers often seek rugs to complement their new flooring, especially in spaces like living rooms or bedrooms. Stocking a variety of styles, sizes, and price points can attract different customer segments, and the higher margins on rugs make them a lucrative add-on. You can also offer custom-sized rugs from remnants or overstock, adding another unique service to your portfolio. Incorporating shop-at-home services and area rugs further enhances customer convenience and increases the potential for repeat business. These options cater to both high-end customers looking for convenience and budget-conscious buyers seeking complementary products. 12. Create a Builders Program Establishing a builders program can be a powerful way to secure consistent, high- volume business. By partnering with builders, contractors, and property developers, you can offer exclusive pricing, priority service, and product availability for their projects. In return, this guarantees a steady flow of orders, particularly for large-scale developments like new homes, multi-family units, or commercial spaces. In a builders program, you can offer: • Volume Discounts: Special pricing for bulk purchases to incentivize large orders. • Dedicated Account Managers:A single point of contact for builders, streamlining communication and service. • Exclusive Products or Services: Tailored product bundles (e.g., flooring, trims, adhesives) or maintenance packages specific to the builder’s needs. • Priority Scheduling: Fast-track order fulfillment or installation services to meet tight construction deadlines. A well-structured builders program not only strengthens relationships with local developers but also provides a reliable revenue stream, allowing for predictable sales and growth over time. Additionally, once the homes or buildings are complete, there’s a chance to gain new homeowners as customers when they need future flooring replacements, maintenance, or additional products like area rugs and blinds.
Premier Flooring Retailer D3 | 2024 39
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