Architects are designers, иf you are working at an architecture firm, you can simply do away with focusing only on the design aspect. But if you run an architecture business or have plans to starting one, you would also have to think like an entrepreneur than just as an architect. Especially if you plan to start a new business or expand an existing one, you would need to come up with a great business plan and rescources. A business plan not just gives you and your team clarity of what your company would be working towards but also gives your investors a lot of insight. This would help your lenders understand what you are lending money for and how they would get back their money and when. Also don’t put all your eggs in one basket and always have a back-up – the Orion code could play such a role when starting your adventure into the business world.
Here are the requisites of a good business plan for an architecture design business:
Vision and mission statements:
Having your vision and mission statement in your business plan is an added advantage. It shows how much clarity you have about your short term and long term goals. This would also give you a lucid picture of what lies ahead. This can also help you plan your business and resources. Your future scope of expansion would also be a bright picture to place before your investors. Also, mention the type of services you would offer and the type of clients you would serve.
Do a research and analyze the current market scenario in architecture design sector. This would help you understand the opportunities and how you are going to grab them. This can give a picture of the pitfalls to look for and the obstacles and how you plan to tackle them. This would also talk about the current competition in the market and how your company would be better than the competitors.
When it comes to an architecture design company, what matters is not just how you sustain a competition but how you grow and stand out from your competitors. Your company should have some unique aspects that make you different. This would, in the long run, make people choose you over your competitors.
This is the most crucial part of your business plan. You should have a separate section talking about the capital requirement. Here you would be mentioning where all the quoted capital would be spent. There should also be a mention about the sources of funds you choose and how much money you plan to borrow from a lender. Adding clear stats about how you plan to repay your loan would make your business plan look better in your lender’s eyes.
The next comes the well-calculated statistics that talk about the cash flow and revenue to expect from your business. This would be an area that your investors would be interested in.
Well laid budget, timelines, and an overall clarity will make your business plan look good. Having a good business plan is the first step to success no matter how small or big your business is.