Questions You Should Ask Yourself before Starting an Interior Design and Staging Business

With all the ideas on Pinterest, trending images on Instagram, and even design and renovation programs on TV, it sure is easy to think that doing Interior Design and/or Home Staging is a lot of fun. But of course, behind those fun and exciting moments of planning, decorating, and renovating, also lies a ton of hard work, disappointments, and stress.

This kind of work or rather, entering this business sector is indeed rewarding and lucrative. But at the end of the day, everything still lies in your hands. So if you’re truly inspired to start this kind of business in Singapore, can you confidently say that 101% sure of it?

That being said, let your friends here at Enterprise Assurance PAC help you know if you’re absolutely ready to take part in Singapore’s Interior Design industry. Before you go and jump right in, as yourself the following questions:

Am I Backed Up With All The Knowledge And Experience I Need To Provide Quality Interior Design Services?

Currently, Singapore’s interior design industry basically has low barriers to entry. Because of that, technically anyone and everyone can simply offer interior design and staging services. Maybe that is the reason why there have been quite a number renovation scams and bad rep for interior design firms.

What we’re trying to say is, we’re pretty sure that you’re already passionate, excited, and determined to open an interior design firm. But it still does matter a lot if you’ve got the training, degree and experience to really say that you capable of providing such services. That’s the only thing that could separate you from those individuals who design to take advantage of others.

Do I Have A Niche Or Specialization That I Am Truly Passionate About?

Just like what we’ve mentioned earlier, barriers for new players in the interior design industry are still low. That can mean you could expect to have many competitors. So just like in any other industry, the perfect way to deliver your USP or Unique Selling Proposition is to focus on a niche.

While we understand that providing a wide range of interior design services can provide you more income, it is still best if you start by focusing on just one. Think if you want to work on residential vs. commercial properties, new design vs. renovation, luxury vs. affordable, and etc. This in turn will enable you to access clients easier.

Do I Know The Singapore Regulations On Interior Design?

Yes, in all honesty, Singapore is yet to come up with an official set of laws and regulations for interior designers, property stagers, and even renovation contractors. But still, you should have a complete knowledge of how interior design firms operate legally in the country.

Learn the Singapore laws on using such a title. What degree is required? How many years of experience do you need to have? Is there a licensing exam that you need to take? These are just some of the things that you have to know firsthand.

Do I Have Everything I Need To Prove My Credibility To Clients?

We all know that building a portfolio is an effective way to show the quality of your work and/or service to potential clients. But we also know that with today’s technology, any kind of picture or digital image can easily be edited and fabricated.

So apart from your portfolio, there are other things that can also prove that you’re a legitimate, qualified, and trustworthy interior designer. Have your degree certificate framed. Open a physical office, as your official place of business. Join some of Singapore’s interior design organizations. Register your company properly. These are just some of the ways you could prove to your clients that you are indeed a credible interior designer they can trust.

Do I Have A Network Of Subcontractors And Suppliers?

Having suppliers and business partners is also necessary in operating an interior design firm. You will work with construction companies, architects, engineers, subcontractors, real estate professionals, and of course, suppliers of decor and other materials.

So to make it easier for you to do business smoothly even if you’re still starting, it’s best that you already have a ready network of suppliers and subcontractors. Don’t make the mistake of just looking for suppliers and partners only after getting your first deal or project.

Are My Funds Ready For All The Permits, Requirements, And Expenses Related To Opening An Interior Design Firm?

As with any kind of business, the startup and operating capital is but essential. You need to have more than enough funds to start, setup and incorporate your business in Singapore, plus, funds to keep your firm running smoothly at least for the first 6 months of operations.

If you think your funds are just about the exact amount you need for all the startup, registration, and other expenses, then it is best to look for backup investors or partners. That way, you’ll be less stressed with finances and be more focused on establishing your interior design firm in Singapore.

If your answers to all those questions are resounding yeses, then we’re glad to say that you are on the right track. And don’t you ever worry. Should you ever need expert assistance on everything you need to start your Singapore interior design firm, we’ll gladly welcome you here at Enterprise Assurance PAC with open arms. Our team of professionals will help you with finance, accounting, company incorporation, staffing, and more. So speak with us today!