Reupholstery and Furniture Repair
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 3,300 firms in the US primarily repair, refinish and restore wooden and upholstered household and commercial furniture. Firms may also repair and refurbish aircraft interiors and seats, as well as cabinetry. Firms often supplement their service income with merchandise sales including refurbished furniture and décor, furniture care products, and complementary products like throw pillows.
Unintended Damage
Disassembling and stripping old furniture carries the risk of unintended damage.
Millennials Embrace Pre-owned Furniture
More and more young people are choosing to buy pre-owned furniture for their homes, according to analysis of auction house data by antique search engine, Barnebys.
Industry size & Structure
A typical reupholstery and furniture repair business operates out of a single location, employs 3 workers, and generates about $400,000 annually.
- The reupholstery and furniture repair industry consists of about 3,300 firms that employ about 11,000 workers generate about $1.3 billion annually.
- Another 18,500 businesses are owner-operated with no employees and generate $630 million annually.
- The industry is highly fragmented with the 50 largest firms representing just 15.6% of industry revenue.
Industry Forecast
Reupholstery and Furniture Repair Industry Growth
Recent Developments
Jul 23, 2024 - Employment, Wages Up
- Average wages for nonsupervisory employees at household goods repair and maintenance firms, which include reupholstery and furniture repair services, grew year to date through May 2024, reaching $22.51 per hour. Employment by household goods repair and maintenance firms increased during the first five months of 2024, according to the Bureau of Labor Statistics. In addition, consumer spending levels increased modestly during the first five months of 2024, according to personal consumption expenditures data from the Bureau of Economic Analysis.
- The National Federation of Independent Business (NFIB) monthly jobs report shows that unfilled job openings fell in June 2024, with a seasonally adjusted 37% of small business owners reporting jobs they could not fill. The reading is down five points from May 2024. A seasonally adjusted net 15% of small business owners plan to create new jobs over the next three months, unchanged from May. About 19% of owners reported labor quality as the most important problem facing the business. According to NFIB Chief Economist Bill Dunkelberg, “This summer, small business owners continue to try to hire and find qualified employees for their open positions. The number of small businesses with one or more job openings they can’t fill remains at exceptionally high levels. However, owners are raising compensation at historically high levels to attract and retain employees.”
- Home remodeling spending, a demand driver for furniture repair and reupholstery, is expected to trend higher through the first half of 2025, following a modest slowdown, according to the latest Leading Indicator of Remodeling Activity (LIRA) report released by the Joint Center for Housing Studies at Harvard. Homeowner improvement and repair spending is expected to reach $466 billion through the second quarter of 2025. Spending on residential remodeling has been more limited due to economic uncertainty and continued weakness in home sales and the sale of building materials. The report noted that homeowners are making upgrades and repairs to their homes at a steadier pace following several years of frenzied activity during the pandemic.
- Consumer confidence levels fell in June 2024, after an uptick in May, according to data from The Conference Board. The Conference Board’s consumer confidence index was 100.4 in June 2024 from 101.3 in May 2024. Dana Peterson, chief economist at The Conference Board, noted that confidence was the highest among those under age 35 and those in the income category of over $100,000. Plans for large appliance and smart phone purchases rose on a six-month basis, while plans for car purchases stalled.
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