When it comes to launching an architecture firm, patience is key. Architecture firms need a body of work in order to truly start to make a name for themselves, and if you don’t have a roster of past clients and projects, it can be difficult to really make a splash. If you’re struggling to attract new clients and can be helpful to find simple jobs that are affordable to complete and will be able to be done quickly and well. Once you’ve completed these sorts of projects, you’ll be able to start to build a reputation for yourself with other potential clients as well as potential lenders.
One way to illustrate to lenders that your firm has the goods when it comes to demonstrating your drafting acumen is to create a portfolio that showcases your work. BLDG Collective Boulder Architecture is a firm that serves as one example of how this can be achieved online. Their website is photo-rich and really illustrates their approach to design. From custom homes and remodels to interior design, it’s easy to get a strong impression of their work on their website. A website also offers you the ability to showcase testimonials, just like BLDG Collective does on their website. This makes it much easier to appear professional to potential funders, ultimately differentiating you from the competition.
A simple way to find potential clients and investors as you’re looking to launch your architecture firm is to attend networking events. By volunteering with local businesses and firms, as well as helping do architectural work at a reduced cost or pro-bono for non-profits, you can begin to make a name for yourself. This will ultimately help you create a local network of people who’re invested in your work and who can, in turn, connect you to others in need of architectural services.
You’ll also want to augment this in-person networking with networking digitally online. If you can make connections via LinkedIn and other social networks to discuss how other small or midsized firms got their start, it’s going to be easier to find a roster of paying clients by following the same steps.
Of course, sometimes you have clients but don’t have the collateral to fully fund your remodeling project. Often times, a customer will only pay for a portion of the architecture services upfront, meaning that your firm needs to float the remainder of the capital until the project is completely finished and you receive total payment. One option when you’re on the hunt for ways to fund a remodeling job is to consider hard money lenders. Unlike a traditional business loan, hard money loans are targeted specifically at financing real estate construction and remodeling projects.
A hard money loan is backed by the equity in the real-estate, making it a much lower risk for you and your firm to take on, too. In addition to being secured by a property’s value, hard money loans are also generally issued for short-term purposes. This makes them ideal for teams of architects who need an extra infusion of cash to make their dream projects a reality.
A company like Bay Mountain Capital is perfect if you’re located in their vicinity, as they have experience navigating specific local laws in the area they’re located in. If you want to pay them a visit to speak with them in person about your needs, you can find that at 3710 Rawlins St #1390 Dallas, TX 75219. It’s also possible to reach out to them via email or by phone at (214) 953-3188 if you have a simple question that doesn’t warrant an in-person visit.