Interior Design

Startup Costs: $2,000 - $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? Yes
Online Operation? Yes

THE BRIEF

Interior designers make people’s homes and workplaces more beautiful but also more functional. They do this by selecting and blending colors, fabrics, furniture and lighting, in cooperation with the client. Developing the aesthetic sensibilities and business acumen needed for interior design, however, takes a commitment. According to the Bureau of Labor Statistics, candidates for this profession must first earn a degree in the field, then pass the National Council for Interior Design [NCIDQ] qualification exam. Along the way, they'll learn in depth about building codes, regulations and accessibility standards and specific skills like reading blueprints. And of course no one is going to hire a raw beginner, so taking on some pro bono projects, building a portfolio and working for architectural and design firms is a must, as is ongoing education. Certainly, there is a healthy market here: According to the American Society of Interior Designers’ State of the Industry report in 2018, sales in 2015 -- the most recent year recorded -- totalled $9.87 billion. As for individual incomes, the BLS reports an average annual pay level for interior designers of $53,370.

ASK THE PROS

How much money can you make?

"[The $53,370 the BLS cites] would not be low for starting out. My accountant just told me that in his experience, the highest end he sees in terms of salary is about $125,000. So you could start pretty low" -- Teri Brajewski, interior designer, twb DESIGN Brooklyn, NY

What are the startup costs?

There’s not really a lot. Someone gave me a contract that I cribbed, but eventually I had a contract that was formally reviewed by lawyers. It was really just [a matter of] having a computer and a printer, to get the business started. Interior design is a service, so outside of physically setting up an office, it's your typical 'I need a desk, I need a chair, I need a computer' -- and you need to register your business as a DBA or whatever incorporation you want to do, and obtain a resale certification. Outside of that, there aren’t a lot of hard costs to starting a business like this” -- Teri Brajewski

What kind of experience do you need to have?

“I started with a bachelor’s in art history and worked in that field; then I went back to school in my late 20s to get an associate’s degree in interior design from the Fashion Institute of Technology (FIT) in New York. I already had a [design] background, having worked in art galleries and art museums; then, while Iwas at FIT, I did part-time jobs at an architectural firm and for a single-person residential firm. At FIT we learned everything from drafting to interior design history to working on projects. During my time at the architectural firm, I learned the more practical side of business: how to access samples and get information from vendors. I learned how to do my job" -- Teri Brajewski

What is the most important thing to know about this business?

You have to like to shop! And you have to not just like to design -- the 10 percent that is the fun. You need to have the skills to execute it and the business skills to deal with your clients" -- Teri Brajewski

The Market

117

Needed Equipment

117