25A - What's Next?

Existing Market

Step 1: First and foremost, I have to finalize and begin bringing my concepts to the real world. This mean I'll probably be going to the Infinity Lab in order to create my first, rough prototypes. I'll need to amass all the resources needed: wood, hinges, saws, and sanders in order to fully put together a first prototype. The aim of this first prototype is to test the functionality of my product rather than to bring something to sell to people.

Step 2: I interviewed two of my dormmates who will be seeking out apartment living next semester as well as the current tenant of an apartment I'm interested in. To note, both of my dormmates answered together, meaning their answers were very similar. The questions I asked were more to the side of: what functionality do you think the furniture should have, apart from foldability, what material should it be made of, and what type of furniture would you be most interested in?

My dormmates were quick to come up with ideas for other functionalities: small compartments that could be accessed even when the pieces were folded, maintaining functionality when the furniture was folded, like a dresser turning into a small step or even strongbox, and lastly pop-out wheels that could be folded out for easier movement. When it came to material, they weren't exactly familiar with what woods go into building different furniture, which I can't blame them for. Funnily enough, they suggested mahogany wood because they believed it to be one of the more fancy types of wood. Lastly, when it came to furniture, one said they needed a nightstand for sure, because his old nightstand was very old and he wanted a new one, whereas my other roommate was interested in desks. He's the kind of guy to sit behind a desk all day and do work anyway, so I could see why he was interested.

The apartment tenant I asked was in  the process of moving out into a house, so while he didn't apply to my target audience, it would be a good way to gain insight into an audience I didn't originally intend to reach. When it came to what he thought should be featured within the functionality, he heavily emphasized that I should not sacrifice comfort and style for utility. He explained that furniture in most homes is meant to be a reflection of what the consumer wants to feel in their home, so they wouldn't want to feel like they're in an office building. When it came to the material, he suggested plywood as a base to test for functionality, then to move onto whatever sturdy wood I had available, oak and maple were the examples he gave. Finally, when it came to the piece he was most interested in, he simply wanted something like a small table or nightstand in order to get a feel for what the rest of the products would be like. Start out small then work my way up if I like it, is the way he phrased it.

Step 3: Personally, I believe that my concept needs more functionality. So, the suggestion I received from my dormmates about pieces like dressers or desks turning into something else when folded really stuck with me. The way I see my concept moving forward is through further testing and prototype creation. What will most make sense is taking my prototypes and verifying that they function, then going to potential investors and acquiring the funds necessary to begin regular production.

Following this, I will bring a finished product to investors to ensure I have enough funding to last me until the point that I go to retailers and provide them with a secure line of furniture. Once a retailer is set and their payments begin rolling in, then my product will begin constant shipment. I will repeat this process with other retailers until the point that I become a well-known business that is known for mass producing my type of furniture for both consumers and retailers.

New Market

Step 1: As I'd mentioned with my interviews, I've been targeting people who are moving into apartments and small spaces, rather than people moving into homes. These people, while they would have more money, wouldn't necessarily be looking to buy my type of furniture. Granted, after the interview, I see that there is a potential market here that I've overlooked.

Step 2: My furniture may be able to cater to people in this market through design and stylistic choices. While they wouldn't need to move their furniture from home to home, it certainly would be a hassle to move it from room to room, so my furniture line could work to alleviate this. Outside of this, I'd simply be another line of furniture they could look into should they like the more simple, modern style my current iterations have.

Step 3: I interviewed two homeowners in the Gainesville area (I've been touring homes throughout the area as I'm looking into the city's real estate market for something else.) I asked them about my furniture concept, keeping the conversation very general (I was touring their home after all.) The only specific thing I mentioned to them is, what kind of furniture would they want to buy right now, as in what kind of furniture would they want to add to their home at any moment. Unfortunately, nightstands, desks, and dressers were not included in their lists. The first homeowner specifically mentioned chairs and other sitting furniture, as these pieces were easily stored and constantly used. The other homeowner mentioned footrests and small containers for outdoor use; the kind of containers that would be used to store pool toys, basketballs, general outdoor toys, while also being an extra place to sit.

Step 4: Clearly I need to try to have my line of furniture be as broad as possible. This is not to say that I need to start out with a wide assortment of ready products, rather I should have one or two finished products to start with that I can lean on for support while I prepare more. The types of furniture I should focus on are those that are constantly breaking or are constantly used, mainly sitting furniture. If I can jump into the chair and couch industry following my first designs and sales of nightstands, desks, and tables, then I can easily move into other areas.

Furthermore, I need to market my furniture line intelligently. I came into this idea thinking that it should be a line of furniture for apartment-goers; a line of furniture for those with not a lot of room. Rather I should start with this idea, then branch out and continually target people, not necessarily on where they live, or their socioeconomic needs, but on where they want to feel like they live. For instance, there are those who love living in small apartments, for these people, I'd market one way, and for anyone who wishes they could live in a big mansion, I could market another piece that way. More than anything, my marketing strategies need to be concise and effective.