Marc Barnes
HIGH POINT — Furniture comes in, furniture goes out. There’s a seller and a buyer. Money changes hands.


The latter is where financing comes in. And that’s where, in furniture retailing, there’s a great deal of discussion. Talk to several retailers and you’ll find differing philosophies and viewpoints, shaped by the marketplace, by years of experience, even by location and unusual circumstance.

Three successful retailers — El Dorado Furniture in Florida, Routzahn’s Furniture and Appliance in Maryland and Miskelly Furniture in Mississippi — were identified by the lenders who service their in-store private-label accounts as being among the best in the business in retail finance.

If the three have anything in common, it’s that each regards itself as a furniture store first and a financial institution second. Each markets its products, not its financing, based on quality, value and customer service.
All three tend toward the conservative in lending, with none touting the notorious no-no-no nostrum — nothing down, no interest and no payments till the next millennium.

Still, the three differ somewhat in their approaches.

El Dorado sets itself apart from the competition by offering a menu of financing options, rather than just one plan, tying longer terms to higher minimum purchases.

Routzahn’s stays with the tried-and-true, with a simpler mix of interest-free, deferred payment programs ranging from 12 to 18 months, which it’s offered for 10 or 15 years and which has worked well.

Miskelly keeps it basic, with a variation on a 12-month financing plan, either same as cash or deferred, with a bump up to a 24-month plan a couple times a year.

And each retailer has different reasons why what they do works for them. Their approaches are outlined here.
 
Click on the company names below to read more.
El Dorado Furniture 
Routzahn’s Furniture and Appliance 
Miskelly Furniture