Furniture On Consignment rebrands, refocuses

As Jay Storey nears the end of his 3-year, $10 million investment upgrading his three Wichita furniture stores and distribution center, he’s also making a change to his oldest brand.

He says Furniture On Consignment still “is alive and well. We’re just changing the business model to Furniture On Consignment Factory Direct Closeouts.”

“We are getting out of the used furniture business 100 percent.”

Instead of taking consumer consignments, Storey says he’s now going to bring in discounted manufacturers’ closeouts “that are still first-line, first-quality products.”

“Twenty nine years in the used furniture business was a great business model to be in,” he says. “It was a great race, but the race is over.”

Storey says now there are all kinds of opportunities for people to sell their used furniture online through things like Craigslist.

“The landscape of the used furniture business has changed.”

He says he thinks his new model is needed because “consumers can’t buy factory-direct closeouts.”

Storey sees that as a new niche. He says the store’s tagline will be, “We’re bringing you new furniture for used prices.”

Furniture On Consignment is in the same building with Wichita Furniture & Mattress at 4502 E. 13th St. just west of 13th and Oliver.

“There’s a lot of businesses that are closing here,” Storey says.

“We’re investing in 13th and Oliver,” he says. “I’m spending hundreds of thousands of dollars in that area in order to improve our facilities.”

He expects to be done with interior and exterior remodeling in the next couple of weeks. That includes new landscaping, signs, paint and a refurbished parking lot.

Storey also is reintroducing Lane furniture to the store.

This caps a 3-year transformation of Storey’s businesses.

Storey embarked on a mission to reconsider every aspect of his businesses, from how each store looks to what each carries to how much stock is in a new distribution center and how it’s handled.

Three years ago, Storey remodeled his east-side AshleyHome Store, which he followed with remodeling his west-side AshleyHome last summer.

“That was a full-blown, inside-outside remodel.”

He also added a new distribution center at 35th and Webb Road with radio-frequency bar-coded inventory for efficiency.

“That equates to our inventory levels being 99 percent accurate,” Storey says.

He says his goal is to have more than 90 percent of what is in his stores in his distribution center or on its way.

Storey says the idea is instant gratification.

“Buy it today, get it today.”

So, after $10 million and three years of work, what’s next for Storey?

“I can’t tell you.”

Why?

“Then it’s not a surprise”

Clearly, though, he’s got something in the works.

“You know me. I’m not going to sit still.”

This story was originally published September 21, 2018 at 2:54 PM.