Ikea

The IKEA franchise is part of the home goods and decorating industry and provides a large selection of house furnishing products at an affordable prices. This concept is achieved through a combination of utilizing function, value, quality, and design with the goal of durability. Product designers are challenged to be innovative, helping create unique and interesting pieces. IKEA has 315 stores in 27 countries with plans to expand to more locations this year.

Behind the success of IKEA is its unique ability to provide quality products at an affordable price through its investment in an automated production system that allows for larger volumes of goods to be made at cost-effective prices. Rather than making products in the price range that would appeal to the middle-class IKEA aims at costs that would appeal to those on an even tighter budget, drawing in even more customers and earning a reputation for how budget-friendly their merchandise is. IKEA products are known for being designed with clean lines while maintaining a sense of style. The ability to see how products can be grouped through the showcasing of entire rooms allows the customer to envision how a room in their home can be transformed in the same manner.

IKEA began in southern Sweden when founder Ingvar Kamprad developed his entrepreneurial skills during childhood and began selling matches via his bicycle. He discovered that he could purchase matches cheaply in bulk and then re-sell at an extremely low price while still recovering a decent profit. He expanded his business to include selling other items including pencils, flower seeds, and Christmas tree decorations. At age 17 Kamprad’s father gave him reward money for finishing his studies and he used it to create IKEA. The first products offered by the company included jewelry, picture frames, wallets, and other items that were sold at reduced prices. Furniture was introduced to the store in 1948 and the first showroom opened in 1953.

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https://www.ikea.com/us/en/