Nigerian startup Woodshare.ng hopes to scale its furniture e-commerce platform across Africa once it has secured funding, having seen strong early uptake in its home market.
Founded by Harry Brainstone and Dele Fayemi, Woodshare began life selling on classified websites and marketplaces, but has since launched its own website and now operates B2B and B2C business models.
The startup partners with top furniture importers and local furniture manufacturers to offer a wide range of furniture products, with the aim being to make furniture products affordable and accessible to everyone.
“We created Woodshare for furniture lovers and enthusiasts, SMEs, startups, and businesses who are looking for quality yet affordable furniture products online,” Brainstone told Disrupt Africa.
“Unlike other e-commerce platforms that offer almost everything on their platforms, Woodshare is only focusing on furniture products. In Nigeria furniture products, imported and locally made, are expensive, especially imported ones. Woodshare is addressing those issues by offering quality yet affordable furnishing products to low-income earners.”
The startup also says it is addressing issues around long production and delivery timelines.
“Buying furniture online and customised furniture usually takes about seven to 15 working days. Woodshare is reducing that duration to seven working days for customised furniture and next-day delivery for ready products,” Brainstone said.
Funded solely by the founders thus far, Woodshare has been steadily growing, and last year saw a record high in turnover. Its customer base is over 500 and rising.
“Over the years we have built a business that puts our customers first,” Brainstone said.
“Our services and products are only for the Nigerian market, but we plan to expand into other African countries in the coming years once we secure investment.”
Woodshare makes money through direct sales, commission and services, and last year had a turnover of NGN50million (US$120,000), with over NGN5 million (US$12,000) in profit.
“One of our major difficulties has always been funding. We ought to have grown past where we are today, but for lack of funding. We are currently open to investments and we are also exploring other options to secure investment,” Brainstone said.