Interior Secrets have attained and maintained a consistent growth curve over the years to become one of Australia’s biggest online furniture outlets based in Melbourne with market reach across many other cities across the country. Being a pioneer of online marketing in the Australian furniture industry the company had to adopt a business model that would give it an edge over seasoned competitors by delivering products from the company to clients’ doorstep.
The company’s founder and Chief Executive Officer Bill Huynh, hailed as one of the most promising young entrepreneurs, spoke to us about past, present and future plan path.
Tell us a bit about Interior Secrets
Interior Secrets was launched in 2009 to provide Australian consumers with access to modern interior designs at competitive prices. The business started as an abstract concept after I was asked by my parents to furnish our new home under a tight budget. The reward was to keep any money that I dint use. I soon discovered how difficult it was to get aesthetically appealing and affordable furniture in Australia. I worked through the process and learned a lot. Later on I borrowed 20,000 from parents and took an unpaid leave to China to negotiate directly with supplies. Although I had promised my parents to repay the loan in two years, I repaid in six months. Since then Interior Designs have grown to become the country’s most comprehensive online interior design platform where one can purchase and interior designer item, from furniture to home ware items like wall clocks and mirrors. Although we are based in Melbourne the company is hundred percent Australian-owned which makes operating in other cities easier for us and our clients.
You made a mark for delivering quality at very low market costs? How do you achieve this?
Our low prices are due to our unique business strategy which dares to challenge the traditional furniture industry. Unlike traditional furniture retailers, we employ a “high turnover, low margin” business model. With years of bargaining power in buying bulk quantities, we demand the very best in quality and materials from our supplies. We are so confident in the quality of our Europea- inspired products that we offer a 14 Day Money Back Guarantee. When you buy from traditional furniture stores, you are unnecessarily paying the wages for their sales staff and the operating costs for their showroom, which have been eliminated in our business model.
How do you remain competitive in the huge Australian interior design sector?
Our main selling point is the ability to offer quality at very competitive market prices. This creates business through repeat clients or referrals which is one of Interior Secrets main growth strategy over the years. Other strong selling points for includes a young and highly professional customer service team, high quality products from partner factories that works with brands in Europe and US, timely deliveries on your doorstep and using efficient online payment methods.
Interior decor and design is a wide sector. What is your area of interest and specialization.
Although there are many sub-sectors in the interior design sector, they are all interdependent and integrated. This is because when a client picks a nice furniture bed he will also need a good bedside table and lamp. At Interior Secrets we strive to provide a wholesome solution to interior design needs ranging from all domestic furniture needs in the living room, bedroom, kitchen, office and outdoor to home wares like wall clocks, mirrors rugs and other accessories.
What are some of your key milestone achievements since your inception?
Besides growing to become one of Australia’s biggest online furniture outlets Interior Secrets have also won numerous awards and recognition that underscores our history and tradition of delivering quality and value for money. Start Smart Award 2012, Hot 30 Under 30, BRW Fast Starters, BRW First 100 2013 and Australian Business Awards are some of the key platforms where Interior Secrets have taken the first honours.
Please tell us about the Interior Secrets Academic Scholarship.
The Interior Secrets scholarship is designed to provide financial support to students who are, in tough times, looking to further their education and do their best to create opportunities for their futures and contribute to the economy. To qualify the applicant must have completed their first year of study and write a convincing testimonial demonstrating why they need financial support. The applications must also have a meme, an image of the applicant studying in ridiculous position and one or two sentences explaining your favourite piece of furniture, home ware or decor is at our online store is and why.