How to Start an Interior Decoration Business in Bangladesh
Start an Interior Decoration Business in Bangladesh
There are a few things that you’ll need to take into consideration if you’re interested in starting your own interior decoration business. In this case, you should consider learning how much you can about the craft of interior design.
The most attracting thing about this business is that it doesn’t require formal education. However, before you launch your own firm, you’ll likely need to learn as much as you can about the business.
And you’re ready to develop a business plan and consider marketing needs when you feel confident in your skills. So, if you’re talented in creative design and interior decorators, you can use your skills to start their own design firms servicing commercial and residential clients, or both. Moreover, you can run one on a shoestring budget as an interior design business doesn’t have to be expensive.
Why Start an Interior Decoration Business in Bangladesh
This is because an interior decoration business has a great demand with the growth of the real estate industry. Also, there are personal and office decorating works that are in need of expert interior designers in Bangladesh.
However, it’s the most demanding to the house builders to develop the look of their houses. As they build houses for the purpose of selling, it should be attractive to the buyers.
So, they search for the interior decoration business experts. Besides, some people like to make their home a new look using interior decoration. These all points should entice you to join this industry.
And a home decor business may be for you if you’re passionate about transforming homes through creative decorating. And the growing economy of Bangladesh is expanding the door of the business for those who are behind of seeking a job.
Steps to Start an Interior Decoration Business in Bangladesh
Although it’s easy to start an interior decoration business in Bangladesh, it’s not so simple that you think to get success. As there are competitions in all businesses, interior decorating is also not far from them. That’s why we’re with a guide so that you can start and get success in this business.
Let’s know: Legal Requirements for Starting a Business in Bangladesh
This guide will give you the answers you need for those who are looking to explore having their own interior decorating business or expanding a current one. Well, let’s know some simple steps that are essential to start a decorating business in Bangladesh.
First Step: Business Plan
It should be the first step to write up a business plan for your interior decoration business. It comes with the determination either you should be a product-driven designer who conceptualizes the design and sells necessary products to the client, or simply a consultant who does not sell products.
The designers who are with less experience, they begin as product-driven designing. If you want to see what they specialize in, how much they charge and what their designs look like then research other decorating companies in your area. Apart from other design companies, offer a different style of design, specializing in certain types of design. Also, it’s important to consider how you can set yourself in this competitive marketplace.
Let’s see what comes with a business plan:
- Cover page of the business plan
- Executive summary of your business
- Company overview
- Industry analysis
- Customer analysis
- Competitive analysis
- Marketing plan
- Operations plan
- Management team
- Identify your target market
Second Step: Target Clients
Antique furniture refurbishing, decorating artificial flowers, basement remodeling, ceramic tiles, sales, and installation etc are some of the sub-sectors of interior decoration business.
That’s why you should know first who your clients are. And if you know what type of interior business you should start, it’ll be easy to get success.
So, research about that small segment when you have determined your niche. If we say it specifically, know more about different backgrounds of your potential customers. Besides, knowing what your customers expect from your interior design services is the most important. Below a summary what you should know:
- Find out the market size
- Specific products and services
- A clear vision of your ideal client
Third Step: Business Set Up
A computer, telephone and word processing software is the basic office setting materials that need your investment. Also, in order to present professional-looking designs to your clients, you need to purchase specialized design software. Moreover, you should keep in stock the materials that are including books of wallpaper, paint and carpet samples etc. As it requires you to purchase samples each month, avoid wallpaper and fabric companies.
And you should start by redecorating your own home and taking before and after pictures of the improvements you make because your first clients will want to see a portfolio of your work. Let’s see what you need for your business set up below:
- A computer
- Word processing software
- Books of wallpaper
- Carpet samples
Fourth Step: Get Industry Contacts
Getting connected with industry contacts, you should connect with suppliers. That’s why it’s important to know the companies who manufacture flooring, fabrics, carpet, wall coverings and furniture, or distributors who represent multiple lines. And you should shop around to find out who will give you the best deals because an interior decoration business gets discounts of up to 50% from certain manufacturers.
This is a good way to pass savings on to your clients. Moreover, know the rates of the painters and carpenters by a direct contact. As they can become sources of new work for you, you’ll also need them sometimes to complete your designs.
Fifth Step: Market Your Business
While promoting your startup interior decoration business or home furnishing business, don’t underestimate the power of social media. If you can use them properly, they are great platforms for your business promotion. Here, you’ll gather thousands of followers and ‘likes’ for your startup venture where many of these followers may become your customers when they need home decoration services.
If you have a budget, you can start blogging in the similar niche. Also, distributing leaflets, flyers, banners are other good ways to promote your interior decoration business.
Some Other Steps to Follow to Start an Interior Decoration Business in Bangladesh
- Get trade license and other permits
- Get your startup a unique logo
- Put your business online
- Offer your services free initially
- Attend trade events in your town