The building design companies experienced an increase in revenue of about 72% in 2017 with a breakup of 61% interior designers and 56% architects. A gross revenue increase was seen in 3 out of 5 companies. In the year 2018 the gross revenue increase was 90% for interior designers and 86% for architects. Design firms are planning to invest more in the coming years in terms of marketing to bring large budget projects. Studies also revealed that around 42% architects find it difficult to find clients.
The increase in business for architects in Annanagar, Chennai is not without challenges. Two in every five business is reported to find it tough to get customers. Managing customer concerns over cost is a bigger challenge and the report shows a six percent decrease from previous year. Handling customer concerns over cost was experienced by design firms and interior designers. Architects are concerned with finding the prospective customers.
Business revenues are booming every year and the overall outlook for 2018 remains optimistic despite the increase in competition in finding clients. The architects are optimistic on continued gross revenue growth and firms are planning to invest in marketing to bringing in big projects. Some of the other strategies followed is to improve customer experience, providing new products and services and increasing employee productivity. The studies also reveal that the company headcount is sure to rise, in terms of interior designers and architects.
Online home designing has big demand. The growth potential of online home design market is estimated to be around $5 billion in the next five years. In India the online home is sure to reach the peak with companies barely making a start. Customers in big cities are sure to find a great connect with this market. The orders are going over 60% for complete houses, 25% of single room design, 10-15% for furniture buys only.
