Even opening a small shop requires a business plan. Before you take the plunge, you must know who will be your target audience, what you will sell and how you will collect items. Likewise, starting your own home décor business requires your passion, creativity and a solid business plan.
To start a home décor business, it is not compulsory to occupy a physical location, but if you intend to, you will have to find out a location where your clients can approach you easily. Commercial spaces are more expensive than residential spaces. You are not likely to have enough money to buy space. You can take out commercial mortgages from a reputed direct lender like Shine Mortgages.
Having an online home décor business is a better idea if you do not want to risk your property especially at the starting of your business. You must have creativity, amazing ideas to spruce up a house.
Table of Contents
Have a business plan
Before you set in motion, your first step is to determine whether you will follow a product-driven approach or work as a consultant who just shares the ideas and does not sell the product. At the beginning of the business, unless you become an expert in your field, the product-driven approach is a better idea. Then, you will have to create samples of potential products. The more unique and beautiful designs you come up with, the better it is.
You must know what your competitors are providing on the market to streak ahead. Look out for what they specialise in, what designs they have and how much they charge for their products. You will have to think differently to divert customers. A unique approach helps attract a large number of clients. Specialise in certain types of designs. This will help you become a brand in the long run. Provide various colour combinations in your designs and keep prices low.
Build your network
Tie-ups with local manufacturers and suppliers are paramount for a home décor business. If you have conceptualised a design, you can give it a real shape with manufacturers. Further, shipment can be delivered from a local supplier. You may also need to contact with graphic designers. This business is all about creativity. Try to be associated with your family and friends so that you can get their ideas. The more fresh ideas you develop, the more your business will grow. You can get huge discounts by contacting certain suppliers. Do enough research to know about them. This will help you pass savings on to your clients. Know about rates that painters and carpenters charge. Sometimes you may need them to complete your design.
Build a portfolio
A portfolio is a must. You must have some samples to show your client how that can benefit from your designs. A client will choose you when they are blown away by your creativity. Of course, you need a project to show your work through your portfolio and no client will give you the project without seeing your work. So how will you make it?
Start with redecorating your own house. Take pictures before and after improvement. To make your portfolio rich with your designs, you should decorate your friends’ house too. Use a various range of styles and techniques to refurbish a house. From a pile of photos, you captured, pick up a few photographs that best represent your skills and creativity. Try to have them in a virtual album too so that your client can see your work at the comfort of their home.
Invest in design software
Even though you are going to run an online business, you need to invest in necessities such as desktop or laptop and design software. Nowadays clients want to see professional-looking designs before assigning any project. With the help of graphic designers, the software will render you a professional-looking design. Some decorators give 3D rendition to show clients how it will look in real-time.
Promote your business
Every business needs marketing. Once you have made the plan and got it off the ground, the hardest part is marketing. You will have to expand your network with realtors and architects. Promote your work on social media so that more and more people can get to know about your presence.
In addition to social media presence, you also need to create your own website to demonstrate your excellent work. You should also have business cards to hand them to your potential clients. Never forget to carry your portfolio if you are visiting your client.
The bottom line
Starting a home décor business is no picnic. You must need a strong business plan and finances to set it in motion. This business is growing rapidly and you can make hundreds of pounds from one project. Make sure that you market your business and provide excellent designs.