Thousands of Americans have found themselves sitting on large piles of equity, yet they’ve been unable to effectively turn that into their dream home improvements.
The Philadelphia Inquirer notes that the average renovation firm is now citing a 18 to 24-week window to customers before materials will be available, with many companies seeing that slip further due to a lack of workers.
The old ways of working have been flipped on their head, and there’s a significant room in the market for new businesses to disrupt – if they have the right skills.
Skillsets
Interior design is a curious field in that experience can come from vocational or academic backgrounds. An academic-led education might give a little more discretion towards the history of design and fine art; vocational-led work is more practical and in tune with modern trends.
With so much on the market, however, simply having someone with a good eye for style will be sufficient to get the interior design enterprise running – a Homes and Gardens outlines, modern interior design is all about character. Any element of unique design will fit well in most jobs.
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Finding Supplies
The biggest challenge facing interior design companies is the shortage of materials. As Reuters outlines, these shortages are only becoming more severe – the manufacturing index has been hit as a result, falling 0.8 points.
Finding clear supply lines is going to be a key competency of any interior design company. One profitable area to look in is upscaled and vintage design – where furniture is already available, there will be profits to be made.
Industry Staying Power
There’s good news for businesses that are looking into the interior design industry. With house sales once again rising, and existing homeowners enjoying high levels of equity, there’s going to be a huge continued demand in interior design.
Furthermore, supply chain issues are thought to be persistent for now but not necessarily a long-term – as in, for years ahead – issue. That means there’s a good chance that the industry will remain profitable and experience high growth for years to come.
That staying power makes it a great industry to move into. There are difficulties to deal with right now, but joining during the toughest cycle can provide valuable experience for the future. Furthermore, with businesses ducking out right now, a huge gap is opening.
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