Overview of Furniture Marketing Group
This review is part of our directory of buying groups/group purchasing organizations.
Buying Group Name: Furniture Marketing Group
Industry/Specialty (if applicable): Furniture
Number of members: 100+
The Furniture Marketing Group (FMG) is a buying group based in North Carolina and is dedicated to bolstering the purchasing power of independent furniture retailers. FMG was founded in 1991 after the demise of Retailers Marketing Guild (RMG). The founding members of FMG wanted to create an outlet similar to RMG for furniture retailers – a forum in which members could network and share knowledge, as well as take advantage of collective purchasing power. As of September 2016, FMG has over 100 members with over 750 storefronts that do almost $3 billion in sales, making it the largest (by volume) buying coop in the nation for furniture dealers.
How does this group work?
There isn’t a great deal of information on FMG’s website about how the group works. The group’s website talks about member benefits, including rebates, access to exclusive product lines, and consumer financing programs. Additionally, it offers ocean freight programs, private labeling and circular options, networking opportunities, and an annual symposium for members.
What is its focus?
FMG’s goal is to make its members more successful. It does that by offering rebates on purchases, providing opportunities for networking and knowledge sharing, and access to product lines no one else carries. The group says its mission is to connect members to share information while negotiating with manufacturers and importers to help maximize profits for members.
How does it work in terms of the purchasing process?
There is no information on FMG’s website about the purchasing process. To learn more about it, contact FMG directly.
How does the buying group choose vendors?
FMG has a committee with a rotating membership that selects vendors then negotiates with them. The buying group sends out surveys to its membership to determine the best vendors.
How much does it cost to join?
To join FMG, you must pay a one-time initiation fee. Then, there’s a quarterly fee of $625. Bear in mind that you must be accepted to the group, and there are several selection criteria. Your company must do over $8 million in sales, selling promotional to medium and high-end furniture, commit to participating in the two annual conventions, and not be in direct competition with any other FMG members.
Furniture Marketing Group Buying Group Reviews
There are no member testimonials on FMG’s website. Furthermore, there are no reviews of the group online. Overall, the group’s sparse website and lack of testimonials don’t provide much detail beyond the basics that are common for many group purchasing organizations. If you’ve worked with FMG, let us know about your experience in the comments!