In response to the economic downturn, some interior designers have reevaluated their design services and considered alternate revenue streams. AD PRO consulted with several who have expanded their offerings beyond traditional interior design services; some made these professional pivots even before the pandemic struck, and others as a result of it. Here, they share their experiences and provide insights for others who might be contemplating secondary money-making means.
Sell real estate
“Creating multiple streams of income is becoming almost trendy, and it’s an intelligent approach to adding to the success of any business,” says Kelly Collier, founder of Plot Twist Design and a licensed real estate agent since 2009. She says she has taken a break from real estate several times, most recently to launch her design studio at the beginning of 2019. By December of that year, she added real estate services to her design business.
“Real estate makes perfect sense for someone who is equally passionate about it as they are about design,” says Collier, who recently helped an investor friend with renovating a property to flip. “I assisted their construction team in selecting flooring, kitchen and bath tile, and other finishes. Once the work was completed last summer, I listed the property for sale by December, and we are closing next month,” she explains.
For someone considering flipping houses or becoming an agent, Collier recommends talking to those who are already licensed and actively doing both design and real estate to gain real insight. And while she notes there are a good amount of upfront costs as well as fees to maintain a license, “It is definitely a lucrative business, and timing is also key…. Right now, the market is amazing and not expected to change in the foreseeable future.”
A project styled by Kelly Collier of Plot Twist Design.
Photo: Courtesy of Plot Twist DesignTry your hand at product design
Another logical extension of an interiors firm is expanding into product design. Well before COVID-19, back in 2015, interior designer Kendall Wilkinson met with Fabricut vice president David Klaristenfeld, who was looking at several designers for a potential collaboration. “He loved our ideas and presentation, and, ultimately, we were selected to create a collection,” recalls Wilkinson, who launched an outdoor collection with Fabricut in 2016 and followed up in 2019 with an indoor textile and trim collection. “I had always wanted to create a textile line as my design approach is very tactile, and I often start the process with an exploration of color and texture. It was a golden opportunity with a wonderful partner.”
