'Leasing furniture saves more than 65pc over purchasing'
In our monthly column on the local property and business scene, Kelly Barker interviews Christopher Exline, CEO of Home Essentials, a furniture leasing firm.
Date: June 29, 2005
The Gulf News, Eye on Dubai
WHAT ARE THE SERVICES OF HOME ESSENTIALS?
Our primary business leases furniture and accessories.
WHO IS YOUR CUSTOMER MARKET?
We work with multinational companies with expatriates on foreign assignment and landlords/developers wishing to rent fully furnished accommodations. Home Essentials currently operates all across Asia, the Middle East and Europe.
ISN'T SHIPPING AN EXPENSIVE ITEM IN A RELOCATION, HOW DO YOU ADDRESS THIS?
The increasing mobility of the global workforce requires programmes that enable cleints to dial up or dial down as business needs dictate. Leasing the furniture saves over 50 percent of the costs associated with either shipping or purchasing.
INTERESTING, IS THAT WHY WE SEE SO MANY SERVICE APARTMENTS IN THE MARKET NOW?
Exactly, and we cater to the service apartment industry with programmes like customised interior design and product specific furniture. In addition, we provide ongoing maintenance services that instill a sense of confidence with the service apartment operators that the furniture is of the highest standard.
Actually, w superintend the manufacturing of the furniture from the factories in China and Indonesia to insure quality and delivery times. Our buying power as the world's largest furniture leasing company allows us to pass on savings to our customers.
WHAT ABOUT THE HOLIDAY MARKET IN DUBAI?
Dubai is witnessing the advent of tour management companies, timeshare entities and professional holiday companies. With this, competition for repeat vacationers will become incredibly intense. So owners that use us to refurbish the furniture possess the best chance of retaining the same customers year after year.
DO YOU HAVE SIMILAR SERVICES FOR THE GROWING OFFICE SECTOR?
Our sister company, Office Essentials, addresses the need of the booming commercial market here. As more companies establish and increase their presence in the Middle East, they need to secure office furniture. The cost savings exceed 65 per cent over purchasing, plus, we offer a three-year guarantee on all products. This reinforces the sense of partnership with our customer.
Factoids: Prior to forming Home Essentials, Chris Exline was president of a real estate services company in the US, where he completed over 1000 commercial transactions with an aggregate value exceeding $125 million. A true global business owner and road warrior (logging over 750 000 miles per year), he maintains residences in Hong Kong, Dallas, Madrid and Dubai.
Hobby: Mountain climbing, and he reached the base camp of Mt Everest in October 2000.
---THE AUTHOR IS A US ATTORNEY AND REAL ESTATE INVESTOR.---