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INTERIOR DESIGN BUSINESS PLAN

How Are You Going To Make Money?

Making money and getting clients are two very different things. As soon as you tell a few people that you’re starting your interior design business, you’ll get an influx of people asking you to do their jobs for them… for free of course.

But you’re trying to start a business. Don’t be fooled by the industries horrendous advice to do your first few projects for free. No, no, no! What if you get sued for that project that you never got paid for? What if the photos of that project that you’re so eager to use turn off potential clients rather than get you more work? What if the project takes so long that you over commit yourself, meaning you have to say no to potential paying jobs? Don’t work for free. Help the average person see you as a professional in the building industry, not a housewife choosing some colours for a friend.

The good news is that our interior design services are very valuable and very much needed! That means that when it comes to making money as an interior designer, there is a multitude of ways to set up your business to receive consistent income and make a good living.

As a start-up, however, you don’t know what you don’t know. Unless you have started a business before, how will you know how much money or how many clients you’ll need each month to sustain and grow your business? How will you know how much time you need to dedicate to working ON your business and how much you’ll need to spend on working IN your business?

At the beginning, you’ll waste a lot of time on administrative tasks such as setting up your systems, business stationery, creating templates, figuring out how to systemise your projects and run things efficiently (so that you don’t waste a week creating a contract for example!) These things are time-consuming and without some experience can eat into your project time and cause you delays (that clients aren’t willing to pay for!)

There Are A Few Steps To Take Before You Can Even Figure Out How To Make Money!

  • The first step is to make sure your administration is sorted, and you know how you‘re going to run projects and how long you’re going to spend on what parts of a project.
  • Then you‘ll need to figure out whether what you’re planning on pricing for your projects is sustainable long term. I always say that you should never book yourself up to 100% capacity. So if you’re aiming at making your monthly income goal with a certain number of clients, how are you going to make a profit at 80% capacity rather than having to be booked up in order to make a profit?
  • Finally, how much profit do you need and can realistically make with your services in order to keep investing in your business and growing your knowledge?

ACTION STEP

How are you going to make money?

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