Welcome back to the first 2024 edition of Dakota Design Company’s Guest Expert Interview series on the blog. We’re thrilled to share expertise from female business owners and leaders in the interior design industry—from interior photographers to social media managers, financial advisors, and branding experts.

Each of our expert guests was selected because they can share their unique insights and perspectives on a range of topics that will help any interior designer take their trade and business to the next level. These experts are Dakota Design Company insiders, and many of them have worked directly with us and our clients in the past. We hope you enjoy this series and that it brings you new insights and confidence as you grow your business!

We asked certified public accountant Caroline Van Wassenhove, Founder and President of CVW Accounting, to share three numbers every interior design business owner should know to ensure success.

Join The DTS Files for my advice and insights.

Landing a large interior design project comes with many benefits, the most obvious of which is a corresponding large fee! A large project may also provide marketing opportunities (new, fabulous project photos for your website, getting published, referral opportunities from higher-end clients, working with reputable builders or seasoned architects, etc.). Many designers feel a large project is also the best opportunity to really flex their creative muscle by having the chance to execute innovative ideas at a grand scale and generally from start to finish.

But large projects can also feel risky. You’ll likely need to turn away other work, you may have an extended timeline that’s difficult to pinpoint, there may be significant unknowns, you may need to rely more heavily on your team, and you may need to pivot many times as you work through all the phases. And then there is that anxiety that comes along with biting off something that feels daunting: Yikes, how will I EVER get this done!?!?!?!?

I know a large project for some may not be a large project for others, so here are a few definitions:

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If you’re like every other interior design business owner out there, you have likely established an income goal for the year. Maybe it’s BIG. Maybe it’s a stretch. Or maybe it’s safe, achievable, something you know you’ll be able to hit because prior year data indicates you will. 

Whatever that number is doesn't really matter. What matters is whether you have the right projects and activities mapped out to achieve those numbers.

If you’re an interior designer trying to break down your financial goals into actionable steps, I’m going to show you how you can reverse engineer those goal numbers to come up with a solid marketing plan for your year. 

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Dear Dakota,

I am struggling with my fee structure proposals whereby I make good profit but also retain clients, make them happy, and get repeat business.

For instance, I’m bidding on a ground-up assisted living residence. Rooms will be replicated (cookie-cutter) and public spaces aren’t vast. I don’t yet know the budget and this is my client’s first time with a project like this. 

Help!

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Dear Dakota,

Our clients feel nickel and dimed paying for freight, receiving, storage, and white glove delivery. I want to consolidate these costs and collect them when invoicing for the product. How do I calculate what this number should be?

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Dear Dakota,

What’s the best practice for handling requests from clients about furniture that shows wear and tear or gets damaged after a period of time from regular use after they’ve moved in and the project is finished? Seems our clients expect that everything we source should be durable, and if it’s not, we should address the issues no matter how long it’s been.

On the one hand, I understand the frustration that some pieces aren’t as durable, but on the other hand, the less durable pieces are often the ones that were sourced with budget in mind (per client's request) - so they are not custom pieces, and not manufactured with high-quality finishes. So it is not surprising that these issues come up.

Our contract states we are not responsible for quality defects, but clients still view us as being on the hook since we chose these items for them. However, we want to preserve the relationship so we often submit the claims to our vendors. Some will gladly send replacements, but others won't. I want our clients to have a good experience and love everything we choose for them - so I try to make sure even the budget items last - but there has to be a better way to move forward - I can't be on the hook forever.

I don't know how to tell my clients they can't expect me to be there forever to help replace items without paying me for the time.

I'd love to hear your insights.

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Dear Dakota,

Should I charge clients a different flat fee for projects my junior designer completes versus ones I complete?

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Dear Dakota,

Should I post my fees on my website? And how do I do it if every project is different?

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