By: Harinarayan Balaji
Nature is Beauty
Interior Design Management and Background History
• I am currently a Bachelor of Fine Arts
Interior Architecture and Design Student at Academy of Art University who has an eye for construction documentation and material selections. I am 23 years old and live in San Ramon, CA. I have been very passionate about majoring in Interior Design since my childhood. Every opportunity I get, I have been drawing layouts and sharing my design ideas with my family since I was in middle school.
Hema Balaji’s Biography
• I have a Business & Accounting background, and a very keen eye to design. In college during my internship program at a company, I had to draw up a layout of that company along with a presentation of their different product lines. That triggered more interest in architecture & interior design.
• Due to unforeseen circumstances, I was unable to study interior design.
• I was surprised to see that my son got very interested in the same field as me & I used every single opportunity to educate & share my knowledge of business management, accounting & interior design with him.
• It has always been my passion to create beautiful serene spaces. I am glad that I can do that together with my son now.
BUSINESS OVERVIEW OF HARRY’S INTERIOR DESIGNS
Purposeful Business Ideas for Harry’s Interior Designs
• Hi, I am Harinarayan Balaji and my business is Harry’s Interior Designs where people from all ages can look for unique designs that inspire future generation going after interior design.
Where would the location be for Harry’s Interior Designs?
• Las Vegas, NV. about 5-10 minutes away from the Vegas Strip. I get inspired by the diversity of architecture past architects have done from what I believe is suitable for learning how every structure is built the way it should be.
Harry’s Interior Designs Customer Segments
What will my customers bring to the table to make my business successful?
• Many talented, professional interior designers will negotiate with me on the proposed layouts I have provided for an interior design project.
• The changes with business timings for customers if they must leave for a family emergency, maternity leave, etc.
• Letting general contractors and subcontractors be responsible for doing the structural engineering correctly the first time for an interior design project.
Interior Designer Value Proposition
• Focusing on both commercial and residential development
• Help clients decide if they want to start renovating their homes and other commercial spaces that can attract more businesses such as retail, indoor and outdoor living, flooring and lighting stores, etc.
• Understand their design choices such as clients wanting to keep the interiors and exterior designs the same or change it to satisfy their design taste.
How Interior Design creates a value of Art
FUNCTIONALITY WITH ENDLESS CREATIVE, POSITIVE MINDSETS
MARKETING STRATEGY
Marketing Strategy for Harry’s Interior Designs
• Harry’s Interior Designs will help many clients for all ages because they are willing to look for unique designs that will inspire future generations to go after interior design.
• I will help them by choosing a variety of material selections that are built up to code and can last for a lifetime.
Design Products and Solutions
Product and Solution
Optimal Image Quality
Relevant Title
Mission Statement
Other Products and Solutions
• Office Supplies that help interior designers with construction documentation such as having a draft board that can be easily carried instead of assembling them in a time-consuming fashion.
• Cost: $47.99 from Walmart
Competitive Strengths
What customer feels satisfied about the Interior Design Firm
Flexible Scheduling for the Interior Designer, Contractors and Subcontractors to work together on an interior design project
Trust they get out of clients for setting a reasonable renovation budget that helps them not worry about lastminute changes that will make them pay out-of-pocket.
Competitive Differentiations
• Since our interior design business is a private partnership between me and my Mom, there are other interior architectural design firms such as Gensler who have many employees who are wellrounded and have a lot of experience in helping clients reach their potential of making spaces unique and continue to be creative that has never been done before. Later in the future, my Mom and I will hire more employees to come work for us and bring their design talents to the next level.
• For example, one of the recent hospitality projects Gensler did was constructing an Atari Hotel in las Vegas whose purpose of its design intent became retro-futuristic that resembles like a video game with pop culture and nostalgia. In turn, this innovative design enhances guests to experience the authenticity of the virtual interactive world.
What responsibilities does my Mom have as a CFO?
Allocate certain amount of money for the contingency
If something unexpected happens, use contingency to cover up the work that is being projected and go over for certain projects both of us like to do.
Tag along with me to speak with potential customers to understand what they must see from us
Provide a reality check to them of what to is going to happen for upcoming interior design projects and how it will be done.
Sales Projections
Interior Designs Balance Spreadsheet Harry's Interior Designs Indirect Variable Costs Item Description Monthly Cost Office Supplies $3,000 Sample Materials for Kitchen Countertops $50 Sample Materials for Hardwood Flooring $25 Sample Materials for Custom Detailing $20 Sample Materials for Window Products $10 Sample Materials for Tile Flooring $5 Sample Materials for Lighting $12 Sample Materials for Furniture Items $15 Total Variable Costs $3,137 Harry's Interior Designs Startup Costs Item Description Costs $ Direct Costs / Office Supplies and Materials $400 Rent Deposit $500 Utilities Deposit $0 New Building Construction $10,000 Rent / Lease $500 Utilities & Telephone $200 Marketing Interior Design Materials and Fees $0 Expert Consultation Services $2,500 Membership Payments $500 Maintenance/Warranty/Repair $20 Installation Services $10 Equipment $13,303 Business Licensing & Permits $100 Business Credit Cards $10 Payroll $1,000 Payroll Taxes $150 Business Planning Course $0 Total Startup Costs $29,193 Harry's Interior Designs Overhead Fixed Costs Item Description Monthly Cost Payroll $1,000 Payroll Taxes $150 Rent / Lease $500 Business Credit Cards $10 Installation Services $10 Membership Payments $500 Total Fixed Costs $2,170
Harry’s
Break-Even Cost Analysis Summary Worksheet Item Price Direct Cost Contribution In-Person Consultation $100 $70 $110 Phone/Video Consultation $50 $65 $100 Firm Billable Hour $200 $50 $120 Direct Cost of In-Person Consultation Hour Item Description $ Quantity Needed Cost Labor $40 1 $40 Transportation $10 1 $10 Office Supply $3,000 1 $3,000 - 0 - 0 - 0 - 0 Total Cost 1 $3,050 Price 1 $500 Direct Cost of Firm's Billable Hour Item Description $ Quantity Needed Cost Labor $40 1 $40 Transportation - 1Office Supply $3,000 1 $3,000 - 0 Total Cost 1 $3,040 Price 1 $500 Direct Cost of in phone Consultation Hour Item Description $ Quantity Needed Cost Labor $40 1 $40 Transportation - 1Office Supply $3,000 1 $3,000 - 0 Total Cost 1 $3,040 Price 1 $500
Harry’s Interior Designs Balance Spreadsheet (cont.d)
THANK YOU
