How to start your own interior designing business

How to start your own interior designing businessHow to start your own interior designing business

Interior designer creates visually appealing interior environment through furnishing and decors. If you like creativity, you can choose this as a start-up business idea. In this article, we would detail about how to start your own interior designer business.

Future of Interior designing business

Interior designing business is growing year on year. It is estimated that interior designing business would grow to $ 40 Bn by 2015 across the world. You can choose growing countries like India and China for your interior designing business as there are several middle class families who are still aspiring to have their “dream home”.

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How to start your own interior designing business

Education: You can do professional degree in interior designing which would add value to your interior designing business.  In US, you need to have interior designing qualification from National Council of interior designing to start such profession or business.

Prior experience is preferred: You may start your own interior designing business from scratch. However it would be good idea to work with an interior designing company to get good knowledge and have relationship with people before you start such business. These would let you know how the business runs, what are the price chart, what would be profits etc.

Do enough homework: Does your locality or community support interior designing? Is there enough market in your area? Who are the competitors and is there any potential for such business in future. Once you do some homework towards these points, you would be able to assess how your business would run.

Type of design: You should design whether you want to do residential properties interior designing or for commercial properties. While residential interior designing volume would be low, the profit margins would be very high. On the other hand, commercial interior designing volume is extremely high, but profit margins would be very low. This is due to the fact that there is heavy competition in commercial space.

Choose a location:  Decide whether you want to do this business from home or at rented office. If you want to rent an office, you should check for location which is easily commutable to general public. You need to consider the cost of rent for such office.

Prepare business plan: Prepare your business plan on how much it would cost you for office premises (if any), marketing materials, business promotion expenses etc. Assume that you would not get any revenue for first 6 months. Prepare your plan which indicates by when you would be break-even (no profit, no loss). This would give clear idea about what you would be the profits.

Building relationships: Build your relationships with Architects, builders, contractors, realtors so that your existence is known to them which would help in getting new orders. Register yourself with chamber of commerce, builder associations and interior design associations. This would help you to meet other interior designers occasionally to know the latest developments in interior designing business. Subscribe to interior designer magazines, online forums etc. to know the latest happenings in the world.

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Marketing your interior designing business: Create collaterals, brochures etc. and prepare your marketing plan. Initially start advertising in news papers and relevant magazines. Try to get at least 2-3 interior designing orders. Prove yourself. Word of mouth advertising is the best advertising which comes free of cost.

There is a good potential for interior designing business in growing countries like India, China and Malaysia.

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