If you have an architectural background and prefer to own your own firm rather than work for someone else’s, you can. A lot of architects find that they prefer the artistic work in design rather than a lot of the other bureaucratic aspects they end up working on in a large firm. If you owned your own firm, you’d essentially get to do whatever you want to do instead of having to get stuck with the non-creative work.
You’re also free to choose a specialty. For example, if you love and enjoy drafting office and commercial buildings but you hate doing landscape designs, then you can just take on a commercial drafting business.
In short, it’s both more fun and more profitable to own your own architectural firm.
Getting Started: The Costs, Equipment and More
Starting an architectural firm requires some but not a lot of investment.
To start off with, you’ll need to contact a lawyer who knows architectural contracts well. You’ll need to have a good baseline contract you can use with clients, as well as a lawyer you can contact for quick customization and changes to the contract.
You’ll also need office space. If you’re going to be meeting potential clients in your office, you might want to spend a bit extra and possibly even hire an interior designer. Your office isn’t just where you work, but a tool to give your clients an impression of success.
If you already have an existing client base from when you were working at an architectural firm, then you can save some money by leasing a smaller office.
Incorporate your practice. If you never plan on distributing shares, incorporate as an LLC. If you plan on taking on investment in exchange for equity or plan on taking on partners who’ll get stock in the future, talk to an accountant about the best legal structure for your company.
You’ll need computers and printers. Your computers don’t need to be the top of the line, but they do need to be able to run all the software you need to run at top speed. You’ll need special printers to print blueprints.
You’ll also need all the other tools of the trade, including drafting paper, rulers, drafting pencils and so on and so forth.
Finally, factor in marketing costs. That includes things like business card design and printing, getting your website setup and possibly setting up a referral program with general contractors and builders.
Overall, there’s a bit of investment you need to put in, but there’s no heavy equipment or highly capital intensive investments that you really have to make. They’re all just basic tools every architect needs, plus the legal and accounting fees every business needs to pay.
