Interior designing business

Table of Contents

How to Start Interior designing business in 2021

Overview

The year is 2021 and the need of every millennial and the Gen-Z consumer is to define their status, their social standing, their personality in every things they buy has become the new cliché.

This is  where you would come in if you have a knack for designing the interior of these consumers, decide on the spaces, textures, colour blends, tones etc so, inshort if you are aiming to start up with your own interior designing business.

The demand for the interior designing services has been splurging ever since the house you live is has become an indicator of the lifestyle you chose to live with.

The major buyers of this service initially were celebrities and millionaires and because these are likely to influence the normal consumer through social media regarding something as small as their favourite brand of make up or clothing brand their interior-housing patterns were gradually adapted to.

And this is why you should take up this business opportunity.

Interior designing business

Market potential and uses

An interior designing is an art and science of enhancing the interior of a building or a space to achieve an even more healthier and aesthetically pleasing environment for the people who make use of that space.

An interior designer on the other hand is the one who researches, plans, coordinates and manages such enhancement projects.

The market for home interior and innovation in India is estimated to be between $ 20 billion – $ 30 billion.

The potential market for this business is vast because

  • Firstly the Indian construction and interior industry work hand in hand
  • Secondly because of the increasing need to bring appeal and status to an aspect through interior designing across various sectors.

The market potential for this business can be defined further on the following basis:

On the basis of types of interior designing

  • Residential
  • Commercial
  • Exhibit design
  • Production design

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On the basis of the styles of interior designing

  • Modern
  • Contemporary
  • Minimalist
  • Industrial
  • Mid century modern
  • Scandinavian
  • Traditional
  • Transitional
  • French country
  • Bohemian
  • Rustic
  • Shabby chic
  • Hollywood glam
  • Coastal

On the basis of the need of consumers for interior designing

  • For getting their homes decorated
  • For getting assistance from these designers for making decisions as to colours, textures, furniture, and designs of the spaces etc
  • To make their spaces and homes more functional
  • Because the make liaison easier as to other intermediary services required like hiring painters, carpenters, and even getting architectural services to follow legal constraints
  • For re-designing or renovating their houses, commercial offices etc
  1. License required

For establishing a interior designing business

  • GST registration
  • Patent registration
  • Land lease/rental agreements

For becoming an interior designer

You can have either of these degrees

  • Bachelors in interior designing
  • B.Sc in interior designing
  • Bachelor’s in interior architecture + BVA in interior designing

Followed by

  • Masters in interior designing
  • Masters in interior architecture
  • Or masters in any field of interiors + work experience
  1. Investment required

The investment required to set up an interior designing business is

Content Amount  
Interior designing software   ₹ 40000  
Official documentation   ₹ 8000  
Insurance ₹ 45000  

On the basis of the pricing method adopted by you

  • Charging a flat or fixed fee
  • Time based fee
  • Project percentage
  • Retainer with balance paid upon
  • Cost plus
  • Cost per square feet
  1. Profits made  

A self-employed interior designer can charge over ₹2000-₹5000 per hour for their services

On the whole an interior designing firm can make a profit of ₹50 lakhs per year

  • Target consumers

The target consumers of an interior designing business are as follows:

  • Corporate: These require the services from interior designers to give an appeal to their space like in the banks, offices etc
  • Hospitality and recreation: Spaces like hotels, resorts, restaurants, Opera Houses, auction spaces, night clubs, music concert halls, gyms etc require the skills of an interior designing firm to suit their brand and product identity needs
  • Retail: Such as shopping malls, theatres, cineplex etc also require sharp interior designing skills to give them a comfortable yet appealing look
  • Institutional: Facilities like schools, colleges, universities, governmental offices and financial firms etc also require the expertise of interior designing to decide on the furnishing and decorative needs of these premises
  • Healthcare: The healthcare facilities like those of hospital receptions, rooms, dentist offices, emergency rooms etc require a group of interior designers to design such spaces with comfort and emergency efficient
  • Exhibitions: Such as the museums, gallery, auctions, exhibition halls etc require chic interior designing skills to attract customers to make a high end purchase
  • Industrial facilities: like those of factories, warehouses etc require certain amount of expertise in terms of designing weather resistant roofs, partitions, floorings etc
  • Traffic building: Area like airports, railways bus stations, pier are a natural indication of the country’s standard of living and so professional interior designing assistance is required here.
  • Area required

You can either set up your business online specifying

  • The interior style you deal in
  • Projects you undertake
  • Services and premium services you provide

The area for a land based interior designing business is 100 sq ft – 200 sq ft

  • Raw materials required

The raw materials required to set up this business

  • Paint pallets
  • Mood boards
  • 3D renderings
  • Measurement equipment
  • Software
  • Manpower required

You have to maintain extensive contacts with

  • Carpenters
  • Painters
  • Architects
  • General contractors
  • Cabinet suppliers
  • Textile suppliers
  • Countertop suppliers
  1. Business model and growth

The business model of an interior designing business can be defined using these 4 variants

  1. Value proposition: The value which this business is likely to get to you is
  • Huge customer demand
  • Wide consumer niches
  • Higher scope for expansion as a firm
  1. Target consumers: The target consumers for this business are
  • Retail
  • Institutions
  • Exhibit halls
  • Houses
  • Healthcare
  • Hospitality and recreation
  • Industrial
  1. Competitor review: The competitors to you in this cutting edge interior designing industry are
  • SOBHA interiors
  • Ace interiors
  • Acme interiors interior designing company
  • Bonito designs
  1. Marketing strategy: The marketing strategy that can be implemented by your interior designing business is
  • Tie ups with tv shows oriented to travel, interior, home décor etc
  • Social media presence on Pinterest
  • Word of mouth promotion
  • Premium services

Growth

  • The interior designing business is expected to grow at a CAGR of a massive 26% by the end of 2025
  • The demand from the elite and the bread and butter based consumers for customisations of houses, offices, farmhouses etc through professional interior designing expertise has been increasing
  • Profit margin

The profit margin which an interior designing business is likely to yield is 35%-40%

  • Suggestions

  • Firstly, the interior designing business is hand in hand growing with the real estate and construction sectors which are expected to be booming by 2025, so this is rather a golden opportunity
  • Secondly, with so many interior styles, requirements and needs you can easily pick a niche or more and adhere to the consumers you can serve the best
  • Lastly, the profits from this business are sky rocketing because of the precision and art involved in this work and also westernisation in the housing aspect.
  • Contact details

For further knows and hows, contact

Name – StartupYo

Contact – +91 8886666821

Email – contact@startupyo.com

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