1. Open the picture file with a piece of furniture. I assume that over time you will process different items of varying size, e.g. couch vs chair.
2. Activate the type tool and type the text. The text will come in on a separate layer. You can select a font and color to your liking. You can position the text with the move tool.
3. If you need more space for the text, perhaps below the picture, you can make room. Go to Image>resize>canvas size. In the dialog that opens you can specify the locus for the extension with the anchor points, and the amount. I ususally start out with 25%
4. I don't think that a fixed template is the way to go in view of varying pieces of furniture and unique text.
Feel free to repost if this is not what you are after.