If you make a living as an interior designer or decorator any slow down in the local economy impacts your business. Running a home staging business in a recession is much more “recession-proof” – keep reading to learn why.
Most “non essentials” drop to the bottom of the priority list when someone is worried about money. So any plans to hire an interior designer or decorator are put on hold during tough times.
Nobody really NEEDS interior design services, especially in “have-not” times.
Maybe you’re one of the many trained interior decorators who work retail for a 100% commission. If the economy gets worse and you’re working purely on commission, where does that leave you?
Even in good times, if you work for 100% commission you might as well be your own boss. Then you’ll have the freedom to market yourself to new clients rather than being tied to any one store and sitting there day after day hoping someone walks in.
When I decided to take the reigns of my life back and do something that would allow me to profit from my creativity, I considered a career in interior design.
I struggled with that option countless times across a 20 year period when I was unsatisfied in my work. I researched, and even interviewed, many interior design schools and never enrolled.
I decided with my BA, MBA and a couple decades of experience in business, being in a classroom for two to four years (with students 20 years my junior) was not something I wanted to do.
Never mind tuition costs and the tremendous loss of income while you’re a student.
Who knows how many years of work experience as a designer or decorator would be needed after graduation to really start earning money. I wanted to unleash my creativity and love for decorating, but I definitely needed to start making money as soon as possible.
As soon as my business was launched, the money was coming in. It was all profit because I run my business without having any of my own inventory of furniture or accessories.
Within my second year as a home stager I was making up to $10,000 per month. Compare that to the median annual salary of $51,959 a year in a big city for an Interior Designer (with a college degree in Interior Design and 5 years of experience) according to Salary.com.
If you’re an interior designer or decorator and you aren’t making enough money, consider adding Home Staging to your service mix, or switching to a more profitable career as a Home Stager altogether.
Here’s where you’ll find part two of this story: why home staging is more profitable than decorating, especially in tough economic times.