The revenue of the architecture industry grew to $292 billion in 2019, making it a 4.4% increase from the previous year. With the rise of home building trends, now’s the perfect time to start an architecture company. But as with any fledgling business, there are a few essential steps to get you started. We’ve marked out the biggest ones you need to follow to get your architecture firm off the ground.
Get Your Finances In Order
An architecture firm, like any other business, marches on its cash flow. In the startup phase, a business needs funds more than it ever will. You need it to get your business licensed, hire professionals to build your brand and website, rent an office, establish a solid team. A lot of things go into starting an architecture firm, and they will all need a substantial amount of money to get done. Start writing up a budget, estimate bills and other payables, and find out how to get the money.
If your savings are insufficient, consider your options like taking business loans or securing angel investors. You need to get all the other financial trappings in order, such as an architectural firm tax and the relevant business insurance. Aside from protection against legal issues, having proper coverage is also a requirement for your company’s legitimacy.
Put Your Portfolio Together
The first step to getting your services out to the world is arranging your architecture portfolio. Everything you’ve achieved so far, including whatever you may have gotten done in your time as an intern, gets a spot on that list. Show your potential clients how you’ve earned your stripes by assembling all the work you’re proud of into a digital and physical portfolio.
Build Up The Brand
Carving out a name for yourself in any market involves forging a solid brand. A crafted brand name will go a long way for your business. It’s the vessel that contains your reputation, and it multiplies the impact of that reputation if it’s good enough to precede you.
When creating your brand, keep in mind the main thoughts and ideas it would contain. Unless you’re skilled in graphic design, leave the logo and lettering work to dedicated professionals. Once you’ve established the company, start paying attention to the website, as well as photos and office design. These things will have a significant impact on your company identity too.
Hone Your Marketing and Presentation Skills
Once you have all the preparatory steps in order, there’s one final step to take to kick start your architecture firm. You must look to the market and find out what demographic you can cater to most effectively. For this you’ll need an education on demographic research, as well as propositioning potential clients.
This step also entails honing your presentation skills to a fine spearpoint. Learn how to speak with conviction and weight, as this has use even outside of presentations. Find out what the clients want and explain how you will be able to achieve their architectural goals. Remember, providing too little information damages your credibility, and too much information will make them tune you out. Find a balance in your presentation and center each video or slideshow around it.
Building an architecture business is much like building any other. But as an architect, it’s important that you use your industry expertise to zero in on what your clients’ demands.