Background
Regency Furniture is a growing leader in home furnishings. With style and selections, as well as unbeatable prices, insures us to be on the cutting edge in the current market. Seven (7) stores conveniently located allow consumers the easy of access though out Maryland, DC and Northern Virginia area.
The furniture retailing industry includes about 20,000 companies. Staying competitive and unique is crucial. As technology and resources change, offering furniture that appeals to a particular type of customer and their budget along with
on-time delivery, will better sales margins.
Regency Furniture sells living room, dining room, kitchen, office and bedroom furniture, along with mattress and accessories. Our consumers have the opportunity to take advantage of either store location pick up or delivery. Our first rate Delivery team offers a deluxe service that includes delivery, assembly, set-up and removal of packing materials. Extended services are also offered at each store location.
The profitability of Regency Furniture depends on merchandising and marketing. Major high profile sales events helps “brand” our company name and continued advertising will always be necessary to keep that name in front of the area customers when they are in the market for furniture. Keeping a satisfied customer base, represents consistent repeat business, this in turn, effectively minimizes our ever expanding advertising budget requirements.
A broad range of products, such as mattresses, sofas, office or bedroom furniture include both domestic and foreign from top manufactures which allows us to offer to a diverse audience of customers at all affordability levels.
We strive to maintain our edge with the aid of electronic merchandising through the internet as well. Although our website is presently being refurbished, the web proves to be a yet untapped bounty for visibility and recognition.
The present economy has proven that excellence in customer service will continue to further our goals toward increased profitability. Store operations involve sales, management, merchandising, inventory management, and credit financing. As a company, we strive to promote from with-in as attested by at least five internal promotions to senior management during our recent growth. These
individuals represent many years of experience.
Many retailers have multiple stores fed by one or several regional warehouses, which in turn receive goods directly from multiple manufacturers. Typically, smaller stores are showroom galleries with little inventory of their own. Regency Furniture stores offer both, showroom with an attached warehouse which increases the volume of customers purchasing.
So far this year, Regency Furniture has open 2 additional locations in Fredericksburg and Alexandria, VA. Continuing this aggressive business plan sees us opening additional locations in the future.
SALES TERMS AND RULES
Sales: All sales are final and non-returnable except as specifically stated herein. All sales must be paid in full before delivery or pickup. Upon approval by Company for return or cancellation, customer agrees to pay a restocking or cancellation fee equivalent to 30% of purchase price plus applicable pickup fees. The reduced prices reflect any possible imperfections or defects. Cancellations must be done in person at location of purchase.
Cash and check payments are refunded by Company check within 21 business days. Credit card payments are credited directly to that credit card only. Financed purchases are credited to that account.
All floor samples (or AS/IS) and clearance items are final sales. Floor pieces must be paid in full and picked up or scheduled for delivery within 72 hours of purchase. All special or custom orders may not be cancelled.
Payments made by personal check may require a waiting time of 10 business days before merchandise transfer.
All orders require at least a 50% down payment before being processed.
“Rain Checks” are available in limited quantities for unavailable merchandise.
Delivery: We guarantee our premier delivery service. Any defective merchandise must be reported to our service department within 72 hours of delivery. Neither Company nor its delivery service shall be held responsible for failure to deliver if such failure is caused by inclement weather, traffic problems or any other circumstances beyond the control of the Company or its delivery service. The delivery shall be rescheduled in these circumstances. We cannot be held responsible for delivering wall mirrors, lamps, or other fragile accessories. Signature upon delivery represents merchandise being received in good condition and also indemnifies Company and its delivery service from any damage to household personal property. Any merchandise left unscheduled for more than 2 weeks after becoming available for delivery shall be subject to storage fees of 2% per month or reallocated to common stock and may be treated as a cancellation.
If merchandise is not available for delivery within 4 weeks of promised delivery date, the customer may cancel and receive full refund or store credit equal to the deposit received, re-select or negotiate new delivery date. This shall not apply if Company is unable to cancel the order with manufacturer.
Customers shall be available to receive a scheduled delivery. A customer who cancels a scheduled delivery or is unavailable to receive the delivery shall be charged a redelivery fee.
The Company shall charge a fee of 30% of the purchase price and there shall be no refund of the delivery fee for cancellations or if a customer refuses a delivery due to the customer’s change in preference for color, size (“no fit”), or for any other reasons. The customer shall be entitled to a store credit for the remaining balance of the purchase price.
Due to the nature of all floor model products, they cannot be transported in such a way as to guarantee delivery in exact condition as seen on the showroom floor. Customer acknowledges that neither Company nor its delivery service will be responsible for any damage accrued during delivery, and that the customer still wishes these items to be delivered via Company’s delivery service.
Customer agrees to release REGENCY FURNITURE, its agents and contractors from any liability as a result of damage to the home and/or property
Pickup: Customer shall be charged 30% of the purchase price for the cancellation of pickup merchandise with remaining balance, if any, applied as store credit. Customer must inspect all merchandise at time of pickup. Company shall not be responsible for loss or damage to any item after pickup. Any merchandise left without pickup after 2 weeks shall be subject to storage fees of 2% per month or reallocated to common stock and may be treated as a cancellation unless otherwise permitted by the store manager. Warehouse personnel cannot be held responsible for tying down any merchandise or loading merchandise on to a vehicle.
Charge backs and returned checks: There shall be a charge of $100.00 for any charge-back on a purchase applied to that credit card. Any returned checks will be subject to a charge of $35.00.
Merchandise Variations: Due to the nature of wood, there may be slight variations in stain or grain of merchandise.
Price-Holds: All price-holds are guarantees for the prices of the merchandise and require a special order and is not a merchandise hold. Price-Holds shall be for a 90-day term with a mandatory minimum deposit of 20% of the purchase price with payoff occurring anytime within that 90-day period. Beyond 90 days, buyer is considered in default and Company shall not be liable for the availability of any merchandise. Customer shall allow 6 weeks after completing price-hold payments for merchandise to be available for pickup or delivery unless Company cannot cancel order with manufacturer.
Cancellation of a price-hold plan within 7 days may be done without penalty with the balance being applied towards a future purchase.
Cancellation of a price-hold plan is subject to a charge of 10% of the purchase price if done within 90 days following the opening of the price-hold plan with the remaining balance applied towards a future purchase.
If payments are not completed within 105 days (which includes a 15 day grace period) of opening the account, buyer is considered in default and will receive only a store credit for the balance of the account less 30% of the purchase price.
Notwithstanding anything contained herein, for all special order transactions, upon buyer’s cancellation or default, Company may exercise all rights and remedies available at either law or equity, including but not limited to recovery of compensatory damages not to exceed the unpaid price-hold price, plus interest at the rate of 1.5% per month, all incidental and consequential damages including reasonable attorney’s fees incurred by Company and all other costs of collection. In addition to these remedies, Company may retain as damages all monies paid by buyer pursuant to this agreement.
Unauthorized Terms and Errors: Any other terms and agreements whether oral or written are invalid unless expressly approved by management in writing. Miscalculations and clerical errors in sales terms and prices are subject to review by management and may be adjusted accordingly within 30 days of discovering the error.
Warranties: Unless specified in contract, Company does not provide any type of warranty expressed or implied. Company does support manufacturer’s warranties with claims approved by manufacturer. Additionally, third-party warranty coverage is available for purchase.
Collection: Customer agrees to pay any fees incurred by Company, including, but is not limited to, processing costs and attorney fees if actions are necessary to collect payment or other charges on a purchase.