ThuHua_104205058_DIA30003_BUSSINESS_REPORT

DIA30003 Interior Architecture Entrepreneurship and Professional Development

BUSSINESS REPORT 2023 THE FUTURE OF RETAIL

Student name: Thu Minh Hua Student ID: 104205058 Semester 2, 2023 Tutor: Kevin Shen Convener: Linus Tan

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Swinburne University of Technology Bachelor of Interior Architecture (BH-DESINA) Published: 1st Oct 2023 Thu Hua 104205058 DIA30003 Interior Architecture Entrepreneurship and Professional Development Assignment 3: Business Report Semester 2, 2023 Tutor: Linus Tan

All Rights Reserved No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photography, recording or any other information storage and retrieval system, without prior permission in writing from Swinburne University of Technology.

Declaration of Originality The work in this publication is the original creation of the Author, unless directly referenced as in the case of sourced quotes & images.

table of A

Introduction

B

Future context

CONTENTS

Cover page Table of content Designer Profile

Context Introduction In to the distance future: Speculating the Future in 2043 Into the near suture: Trend Thesis

c

Existing Competitors Bussiness Competitors Competition Analysis & Strategy

D

Proposed Bussiness Indentity

E

Proposed Bussiness Development

F

Conclusion

G

Personal Learning

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Visioning design firm in 2043 Position Practice

Target Client User Persona Value Proposition Canvas Bussiness Desirability Bussiness Feasibility Bussiness viability

Reflections References

A| Introduction

designer profile

interior architecture student Hi, my name is Thu Hua, and I am 21 years old this year.

I was born and raised in Ho Chi Minh city, Vietnam and I am currently in my third year of a Bachelor of Interior Architecture programme (Honours) at Swinuburen University of Technology. Before moving to Melbourne, I was a student at University of Architecture Ho Chi Minh city. I have a passion for all art forms in general, have been exposed to many types of painting, technical drawing, hand-drawn,..

Art has no limits, so I always want to be exposed to many art forms, especially in the digital age as it is now.

A| Introduction

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INTRODUCTION ARgitech Studio ARgitech Studio was founded with a combination of architecture architecture, AR and di digital technology - trends that predict the future tech of the retail industry. Argitech's goal is to become a bridge between customers and retailers, creating a memorable shopping experience for customers and thereby increasing store profits.

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Customisation service

autonomous store

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Snapchat AR try-on filter-Farfetch

B| Future Context

From left to right: figure 2,3,4,5,6,7,8

ARgitech is always changing and adapting to the current trends in shop design in order to cater to a wide range of customer needs and optimize ease and interactivity. One of the major trends we want to focus on is shown below.

what’s in store JUST WALK OUT- new RFID technologies | Amazon Pro shop

In-store Self service customisation

virtual try on- Farfetch’s store of the future

Pop-up Concept Store collab with luxury brands- Jacquemus

Omnichannel

At ARgitech Studio, we always maintain the caliber of experience design in an era where technology and the environment are growing quickly. We think we'll cover enough possible aspects in this research to be able to forecast trends and offer a thorough analysis of the retail industry.

B| Future Context

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SPECULATING

the future of design in 2043 2028 The Dawn of Virtual-Physical Fusion Spaces In 2028, the retail landscape will witness the emergence of Virtual-Physical Fusion Spaces where the boundaries between the physical and virtual shopping realms will blur. Retailers will harness the power of AR and VR technologies to create seamless transitions between instore and virtual experiences. Sustainability will take center stage, as eco-friendly materials and energy-efficient systems become integral to store design, and product sustainability credentials are prominently featured. Personalization through advanced AI will redefine the shopping experience, offering tailored recommendations both in-store and online

2033 Autonomous Stores and Supply Chains

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B| Future Context

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In 2033, retail will undergo a significant automation transformation, enhancing efficiency throughout the industry. Autonomous retail stores, featuring cashier-less checkout systems, will be prevalent, streamlining the shopping process. AI and IoT devices will revolutionize inventory management, minimizing stockouts and overstocking to ensure products are consistently available. Furthermore, delivery systems will rely on autonomous vehicles and drones, promising swift and eco-friendly deliveries, with same-day or even same-hour delivery as the new norm, reflecting a future of convenience and sustainability.

Thu Hua_104205058

figure 10

2038 Hyper-Personalization and AI Shopping Companions In ten years, the retail landscape will be defined by a profound emphasis on hyper-personalization and AI shopping companions. AI-driven shopping companions will be pivotal, guiding customers with real-time advice, styling tips, and product insights. The future of retail will also see customization reaching new heights, with in-store 3D printing enabling customers to design and print their personalized products, spanning from clothing to home decor. Additionally, virtual reality retail experiences will advance significantly, allowing customers to virtually try on clothing, interact with products in simulated environments, and make informed purchase decisions, making shopping a highly personalized and immersive journey.

2043 Sustainable, Community-Centric, and Inclusive Retail

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In two decades, retail will transform into a sustainable, community-centric, and inclusive ecosystem. Embracing the circular economy, products will be designed for repair, reuse, and recycling, encouraging customers to return items for refurbishment and resale. Inclusivity will be paramount, with stores prioritizing accessibility and ensuring a welcoming shopping experience for everyone. Furthermore, retailers will form alliances with tech companies and sustainability-focused organizations to create innovative, eco-friendly shopping experiences, harnessing advanced technologies to drive positive social and environmental impacts.

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B| Future Context

TREND THESIS Fusion, Sustainability, v

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B| Future Context

Retail store design in 2043 will likely be a dynamic field, influenced by the ever-changing needs and preferences of consumers, as well as advancements in technology and sustainability practices.

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AI/ AR and Inclusivity Argitech predicts retail in 2043 will play a key role in realizing a future where physical and virtual retail spaces blend seamlessly, sustainability is built into design, personalization is reach new heights through AI, and inclusivity and community engagement are paramount figure 12

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B| Future Context

BUSSINESS COMPETITORS Product & Service

Promotion

Focus on heritage-inspired retail designs using traditional craftsmanship. Their products craftsmanship are retail spaces that celebrate cultural heritage.

Owned website National Vietnam Design Awards winner Social media Retail and F&B Project

They offer sustainable, eco-friendly design services.

Owned website Awards winner Big scale project Recognition of the firm on the global stage.

Red5studio

VTN Architects

Their products are sustainable retail spaces that integrate green technologies and materials.

They specialize in technology-infused retail designs.

TechVision Design Studios

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interactive displays, displays augmented reality (AR) integration, and IoT (Internet of Things) solutions

C| Existing Competitors

Don’t have their owned website Partnership with technology firms Client Testimonials

Place

Price

People

Based in Ho Chi Minh city, Vietnam Their projects are often located in culturally rich areas and neighborhoods..

Artisans, cultural experts, and designers who value tradition and cultural preservation.(especially Vietnamese culture)

Based in Ho Chi Minh city, Vietnam but has national projects and aim to international market.

VTN Architects often assembles multidisciplinary teams, including architects, engineers, landscape designers, and other experts

Fictional design studio

Tech experts and designers who are passionate about creating futuristic retail spaces.

Use tech events, digital marketing, and collaborations with tech companies to promote their services.

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C| Existing Competitors

Value Proposition Analysis Product & Service creation of unique, tailored, and aesthetically pleasing spaces.

Promotion Owned website, social media and design publications Brand Specialty- Glossier

modern, contemporary, and often artful designs.

Owned website, social mecreation of customized, aesthetically pleasing, and function- dia and design publications al spaces.

Brand Specialty- Aesop

Participation in Exhibitions

Client Testimonials

how are they competitive ?

Heritage-inspired

- Green technology

Wide range of services

- Strong connection with VietNam supplier

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-Sustainability

C| Existing Competitors

-Strong presence in the design community -New innovative experiences for customer

People

Place based in New York City, a global design and architectural hub taking on projects around the world, demonstrating their global reach and appeal.

Price

husband-and-wife team John and Christine Gachot with great design backgrounds collaboration with artisans, artists, and craftspeople to create custom elements within their designs.

based in New York City, a global hub for architecture and design.

Multidisciplinary teams, including architects, engineers, interior design, and other experts

projects in various locations around the world

Craftsmanship focus and Client-centered approach

-Creating technologically advanced retail spaces.

-Provide real-time data analytics and insights -Technology focus -Interactive display -Unique design by artist

-High-end and customized design -Client-centered approach -Multidiscipnary firm

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C| Existing Competitors

Thu Hua_104205058

HIGH PRICE

COMPETITION ANALYSIS

TechVision Studio

Our Opportunities GENERIC

SPECIFIC

Our Opportunities

Red 5 Studio

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C| Existing Competitors

LOW PRICE

VTN Architects

STRATEGY Aiming to differentiating ARgitech in the market, we focus on the “Generic + High Price” segment. ARgitech can establish itself as a provider of exclusive and high-quality design solutions, meeting the needs of clients who seek a premium experience in their projects.

Consistent Brand Aesthetic: Maintain a consistent design aesthetic across all projects to reinforce your studio's brand identity.

Personalized Project Teams: Assign dedicated project teams to high-end clients to ensure a seamless and personalized experience from the beginning to project completion -Unique approach and selling points -Tailored Client Experience -High-end clients often seek a seamless and exceptional journey.

Concentrating on the “Specific + Low Price” category can help ARgitech become known for producing effective, affordable and customized designn solution that satisfy clients that want affordability without sarcrificing sustainability and quality.

-Digital Collaboration Tools : In smaller locations, there are chances to be more cost-effective by utilizing AI and AR technologies to provide visuals and patterns that can regenerate and refresh without the need for more physical materials.

-Local Material Sourcing: minimize transportation costs. Highlight the use of locally available, sustainable materials.

-Client Involvement: Involve clients in the selection and customization of modular design components to meet their specific needs.

-Client-Centric Approach -Modular Design Solutions: Develop modular design solutions that can be adapted to various specific project requirements

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C| Existing Competitors

VISION FOR 2043 In 2043, the practice of retail store design will be characterized by constant adaptation and innovation, driven by consumer demands, technological advancements, and a commitment to sustainability.Fusion, Sustainability, AI/AR, and Inclusivity will be the guiding principles for ARgitech. We prioritize adaptability, renewable resources, personalization through AI, and accessibility in their projects to remain at the forefront of the ever-evolving retail design landscape.

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figure 13

D| Proposed Bussiness Indentity

immersive and interconnected.

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Design studios in general and ARgitech in specific will practice “Fusion” by seamlessly blending physical and virtual shopping experiences, creating truly immersive and interconnected retail environments For instance, a practice example would be the implementation of augmented reality (AR) frictionless checkout in physical stores. `

Renewable and Sustainability ARgitech will emphasize sustainability in a way that directly relates to customers by creating eco-friendly and sustainable shopping experiences. In-store “Sustainable Choices” app or feature that provides real-time information about the sustainability attributes of productsfor customer is one our intention in this term.

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adaptive and tailored Leveraging AI/AR-driven personalization improves consumer engagement and happiness by adapting and tailoring the purchasing process. It also utilizes AI/AR technology to provide a smooth and customer-centric retail experience. figure 2

accessible and welcoming ARgitech's commitment to creating spaces that cater to the needs of all customers.

To create a welcoming and inclusive atmosphere, we can offer quiet zones or sensory-friendly areas or provide multilingual signage and digital wayfinding tools to cater to a diverse range of customers. figure 2

From top to bottom: figure 14,15,16,17

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D| Proposed Bussiness Indentity

VISIONING our design firm in 2043

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the golden circle

what how

What we do: do We provide comprehensive retail design solutions, including space planning, concept development, and technology integration, to create innovative and functional retail spaces. .

How we do it: it We leverage our team of highly skilled designers and architects who use their expertise to create unique and innovative design concepts.

why Why we exist: exist: We believe that well-designed retail spaces have the power to enhance brand identity, improve customer experiences, and contribute to a sustainable future.

D| Proposed Bussiness Indentity

Thu Hua_104205058

What products/services we offer: Our core product is offer customized retail space design, while our services encompass consultation, risk assessment, cost estimation, compliance, and more.

What differentiates us: us Our designs prioritize sustainability and incorporate cutting-edge technology, setting us apart from competitors.

CORE VALUES Sustainable Memorable

Quality How we provide value: We offer a one-stop solution, guiding clients through the entire design and construction process, ensuring compliance with regulations and delivering sustainable, quality designs.

How we engage with clients: clients We foster open and transparent communication, educate clients, and use technology-driven project management to enhance collaboration.

CORE PURPOSE

Why customers choose us: Clients choose us us because they share our vision for exceptional retail spaces that align with their brand and values.

They trust our expertise to bring their vision to life.

Why we are passionate: We are passionate about retail design because we understand the impact it has on businesses and communities. We are dedicated to creating spaces that exceed expectations and leave a lasting positive impression.

Timelessness Connection Trust

D| Proposed Bussiness Indentity

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A STEEPLE analysis Social

Technology

Increased démand for sustainable eco-friendly design Fast-paced lifestyle, young customers easily influenced by social media, chasing trend -> rapidly changing their options Cultural Fusion as societies become more interconnected, cultural fusion is influencing design aesthetics

AI-powered analytics help our company gain insight into customer behavior and preferences Automation techonology help quicken our dsigning and maitaining process Quallity digital model Ensuring security and Data Privacy

Environmental A growing emphasis on environmentally friendly design practice and eco-consious design priciple -> We have to focus on using sustainable and nature-inspired design element , bioliphilic design Air pollution- affects indoor air quality -> Our design specifying in using low VOC (voltatile organic compound) and having adequate ventilation system

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D| Proposed Bussiness Indentity

Thu Hua_104205058

Political

Economic Changes in GDP growth rate, rate growth construction cost and income reduction -> influence budget of client.

Currency Exchange Rates can impact our project cost and profitability and our Global Exxpansion goals High unemployment rates increses competition for dessign contract and potentially affect pricing and profitability

Alterations in tax policies, including corporate taxes and incentives for sustainable or energy-efficient designs, can impact our project costs and profitability.

Legal Environmental Regulations such as those governing the use of hazardous materials or waste disposal, can impact our material choices and project compliance.

Ethical Inclusivity and Diversity Our design firms ensure that their designs accommodate diverse cultural backgrounds, abilities, and lifestyles.

Promote cross-cultural creativity and say no to cultural abuse and appropriation

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D| Proposed Bussiness Indentity

Thu Hua_104205058

Stregths Technical Proficiency, expert in multiple CAD sofware and know how to visualize idea.

Well-organised and Time Management Sustainability knowledge Adapability and Quick Learner Have a deep knowledge and trained about Asian/ Indochinese building structure,fengshui, decorate style, culture,...

Weakness Have not yet graduated Sometimes pay too much time and effort on one thing Limited connection network with supplier and industry professionals New in thís industry, less practical and work experiences than other competitors

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D| Proposed Bussiness Indentity

Thu Hua_104205058

SWOT

analysis

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Opportunities Widen networking and connection with stakeholder/customers/suppliers...

Learn more about different perspective of design/ retail inddustry and bussiness Brand Indetify and Global Expansion Expert in AI, VR technology, use it as a tool to shorten time designing and cut down cost

Threaten Not a local resident Lack of personal branding

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Customers can design themselves and contact suppliers directly without going through a design firm thanks to the endless self-design tutorial on many platforms like TikTok, Instagram, ..

Expensive star-up cost Lack of content on social media or website to introduce our company and show what we have

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D| Proposed Bussiness Indentity

Thu Hua_104205058

AGENCY OF CONTROL Positioning Practice Sudden change in economic, currency, especially cryptocurrency Competitor’s competititive price offer Sustainable practices and dessign inspiration Unpredictable upcoming trends Friendly and effective working environment

Sudden change in economic, currency, especially cryptocurrency

Team members

Exhaustion of client’s investment

Quality of each stage of process Design process and Construction operations

Unexpected Technical errors or Desease/ Pandemic Lockdown

Suppliers

Relationship with Clients Restriction in Law and Politicial about contruction,environment or nature materials sources

Client’s and Sktakeholder’s concerns

Customer Services Work flow and Time Management

OL Inflation/ Price

R NT

CO

rising

CE

N UE

N

FL

IN

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D| Proposed Bussiness Indentity

CO

R NCE

Thu Hua_104205058

POSITIONING ARgitech can be a distinctive and competitive player in the retail design industry by creating our unique selling points, high quality and unique blend of technical proficiency, cultural knowledge, sustainability focus

What do you want to be recognised for as a bussiness?

We aim to be known for our realiability, high-quality that not only creates visually stunning retail spaces but also focuses on sustainability, inclusivity, personalization, and adaptability to enhance the customer experience and meet the evolving needs of the retail industry.

Are you suited to take on this position?

It is undeniable that we still have many things that need to learn and improve. ARgitech believes that these can be addressed over time through continuous learning and networking efforts. We are gradually building and developing ourselves, provide a clear path for growth and success.

figure 22

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D| Proposed Bussiness Indentity

TARGET CLIENT Client Expectations Clients expect you to come up with creative and innovative design concepts that align with their brand and vision for the retail space.

Clients expect a studio to work within their budget constraints and help them manage costs effectively.

The design should be practical and functional, ensuring that the retail space serves its intended purpose efficiently.

What clients are paying for ?

Concept development, design, and consulting services; Costs associated with suppliers, materials, and contractors; Documentation and disbursements • Project management and coordination services for the hiring of suppliers, contractors, and digital experts•;

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E | Proposed Bussiness Development

Thu Hua_104205058

Services We Offer Consulting Services- uderstand their clients' needs and translate them into beautifully designed spaces, emphasizing the importance of their clients in the design process.

Concept Development and 3D Visualisation- create innovative design concepts and mood boards help clients visualize the final design.` Procurement and Vendor Management- assist in sourcing and managing suppliers and contractors.

Project Management-ensure the project stays on schedule and within budget.

How can we pitch our service to a prospective client ?

Offer tailored services that perfectly align with the client's expectations, industry trends, and their commitment to delivering exceptional and inclusive shopping experiences.

Present your inclusive design approach, underscoring your dedication to creating welcoming and accessible spaces for customers of all abilities and backgrounds.

figure 23

Showcasing how these AI and AR technologies enhance the customer experience and boost engagement.

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D| Proposed Bussiness Indentity

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figure 24

E | Proposed Bussiness Development

User Persona Name: Mark Johnson Age: 41 Occupation: Marketing Manager at a DISC startup Hobby: Art Enthusiast and Collects Vintage Records OPEN-MINDED, CREATIVE THINKER, ANALYTICAL Mark is an accomplished architect with a deep passion for art and music. He spends his free time exploring art galleries, hunting for vintage vinyl records, and appreciating the beauty of artistic expression. His career in architecture has nurtured his appreciation for design and aesthetics.

PERSONALITY Introverted

Extroverted

Tech Novice

Tech Savvy

Shop around

Loyal

Easy going

Serious

FAVOURITE BRAND AND REASONS WHY HE LIKES

user-friendly design art-focused and sustainable initiatives

sustainable and ethical practices

client-centered approach high-tech and sustainable fashion brand

DESIRE

FRUSTATIONS

Mark hopes to create his own disc shop that seamlessly fuse art not only be visually appealing but also serve a practical purpose,

-Lack of sustainable knowledge -Low budget -Don’t know much about technology

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E | Proposed Bussiness Development

N PAI

I

RS EVE

REL

Educating and helping client’s understand the trade-off between quality, quantity and cost which can align their expectations with their budget Maitaining strong relationship with suppliers and contractors can lead to cost saving, help your client reduce expenses

Conducting prototype and testing of design concept help ensure final design will meet client’s expectation Customers easily finding what they are looking Have necessary software and skills for spatial & concept visualisation

Value Proposition

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Comprehensive project planning, develop a well-structured plan helps keeping the project on track and minimize the risk of discruption and delays

Space Planning 3D renders, digital documentaions & visualisation Procurement and Vendor Management Design Concept Creation Budget and Timeline Commitment

PRODUCT AND SERVICES

Consulting Services Offer promotion for customer who make sustainable choice

Personalised and Customized/ Sustainable and Eco-Friendly design solution

Combine forecast trends and client’s ideas Prioritize a customer-centric approach and understanding our client’s specific needs, brand identity and target audience

GAI

NC

Cost transparency + optimization, provide clear cost estimates from the outset, helping client’s budget effectively

REA

Staying update with industry trend and innovative design solution

TOR

S

E | Proposed Bussiness Development

Tailor to customer preference Matching interior design solution + brand orientation + client’s idea

Thu Hua_104205058 High intitial cost of design and construction fees/tax/ unexpected extra fees and escpecially cost for eco-friendly materials

Technical Challenges

Adaptation Complexity

PAIN

S

Uncercainty, unable to visualise design

Low supply of sustainable materials Worry about discrup- Complex certification Project timeline tion and delays and environmental regulations such as LEED

Create a sustainable bussiness model that also reflect brand identity + values + messaging Loyal customer engagement and retetion Meeting Sustainability Goals

Adapt to Trends

Creating Memorable Shopping Experiences Boosting Sales and Conversion Approach to wider range of audience

Inclusivity and Positive Social Impact Market differentiation, unique and up-to-date design Enhance customer experience Customer engagement and retention

CUSTOMER JOBS

Increased Sales and Revenue Brand Consistency

Staying competitive in market

INS

GA

E | Proposed Bussiness Development

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OUR BUSSINESS MODEL CANVAS Key Partners

Key Activities

Material,Furniture, Equipment suppliers

Personalized Service:

AEC Industry Professionals Marketing specialists, Engineers, Consultants AI program developers

Project Management and Marketing analysis 3D Visualization and Mockups Weekly update the process/ changes for customers

Contractors

Key Resources

Manufacturers Technology providers

Technology Infrastructure

Value Proposition Quick project completion visualization using AI renders Offer design variations/ services with different prices that meet client’s budget.

Customers are more involved in the desicion-making and design process Using AI for quick data analysis, client preference recognition, and design optimization, resulting in time and cost savings

App, website and social media development

Leverage AR/AI technology for efficient and cutting-edge design.

Networking ( National and International

Sustainability Focus

Talented Design Team Cultural Knowledge

Cost Structure -Office Rent, Utilities, Bills costs -Labor Costs -salaries for the design team, AI/AR technicians & researcher, specialists -Advertising on design websites and social media -Technology Costs -investments in CAD software, AI, VR technology, and IT infrastructure -Suppliers - materials, furnishings, etc -Maintenance

OVERVIEW

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Customer Relatonships

Customer Segment

Utilize AI for tasks that require answer frequently asked questions, and provide instant responses

Retail Chains: who seek innovative and sustainable retail space designs.

Maintain email as a means for more personalized and in-depth communication

Channels

Independent Retailers/ Local brand: who look for unique and culturally relevant designs.

Mid to high end bespoke store

Website, Social media platforms to showcase portfolio Networking Events Design competitions/ Awards Collaboration with other firms

Revenue Stream -Design services -Consulting Fees -Award winning price - Licensing and Royalties - Partner ship

In a future where AI accessibility and competition are on the rise, the retail design industry may face market saturation and heightened price competition.

Quality over quantity may find its niche, with some clients prioritizing exceptional design and human expertise. ARgitech may play an educational role, highlighting the value of human creativity alongside AI. This evolving landscape will demand adaptability and innovation from design studios to carve their unique space in the industry.

E | Proposed Bussiness Development

KEY PARTNERS AEC (Architecture, Engineering, and Construction) Industry Professionals: These professionals can offer complementary expertise, ensuring that your projects are well-rounded and structurally sound.

Material, Furniture, and Equipment Suppliers: cost efficiencies and access to exclusive materials.

Marketing Specialists can help promote our design studio effectively, boost our visibility and attract more clients.

AI Program Developers: These partnerships can lead to custom tools or platforms tailored to our design needs, giving us a competitive edge.

Manufacturers: provide access to unique products and materials, allowing us to offer exclusive design options to your clients.

E | Proposed Bussiness Development

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KEY RESOURCES Human Resources Designers Architects Project Managers Drafters and CAD Technicians Interior Decorators 3D Modelers Administrative Staff Sales and Marketing Team Skilled Craftsmen and Contractors

Financial Resources Capital for Initial Investment Operating Budget Financial Software and Accounting Systems Funding for Project Expenses Reserves for Contingencies

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E | Proposed Bussiness Development

Physical Resources Office Space and Design Studios Design and Drafting Tools Furniture and Fixtures Presentation Materials Prototyping Equipment Library of Design Materials and Samples

Technological Resources Design and CAD Software (e.g., AutoCAD, SketchUp, Adobe Creative Suite) 3D Rendering Software Project Management and Collaboration Tools Communication and Video Conferencing Tools Website and Social Media Platforms High-Performance Workstations and Servers

Intellectual Property and Knowledge Patents and Trademarks Research and Market Insights

Supplier and Vendor Relationships Material Suppliers Collaborations with Furniture Manufacturers Partnerships with Construction and Installation Contractors Preferred Vendor Agreements

Regulatory and Legal Resources Knowledge of Building Codes and Regulations Legal Counsel Contracts and Agreements Intellectual Property Protection

E | Proposed Bussiness Development

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KEY ACTIVITIES Personalized Services Consultation - offer a one-on-one experience where we actively engage with clients to gather insights about their vision, brand identity, and specific design requirements Site visit, Research and Makerting Analysis Hold meetings and provide regular updates to the client

Production Moodboard and Design Variations that meet client’s requirements 3D visualizations and material selection Project Management planning figure 25

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E | Proposed Bussiness Development

BUSSINESS VIABILITY COST STRUCTURE

Marketing and Advertising 10%

Suppliers (materi-

Mantenance 10%

als, furnishings, etc)

30%

Utilities and Insurance 5% Technology Costs 10%

Rent and Bills 10% Labor Costs (design team, AI/AR technicians & researcher, specialists)

25% REVENUE STREAM Licensing and Royalties 10%

Partnership 10%

Award winning 10% Concept Development & 3D visualisation 20%

Construction 40% Research and Consultancy 20%

E | Proposed Bussiness Development

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figure 26

CONCLUSION

The future design landscape will require a successful retail design studio to navigate the intersections of innovation, sustainability, inclusivity, and the seamless fusion of virtual and physical spaces. ARgitech believe we will stand out for our key strengths, which include technical mastery, cultural awareness, sustainability knowledge, and adaptability. The caliber of customer relationships will be determined by networking, individualized care, and AI/VR integration. We need to make the most of its important assets, which include its online presence, cultural expertise, technology infrastructure, and talented design team, in order to succeed. Partnerships with vendors, business experts, and technology companies will also be crucial. We can establish ourself as a leader in the field by providing customized and innovative designs with a comprehensive approach to design and a sharp awareness of new trends.

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F | Conclusion

SEMINAR DISCUSSION Week 1: What do you want out of this unit?

I expected to learn more about business in the context of design and gaining insight into how the actual business is run. In order for me to effectively own and manage my business, I would also like to know what factors I should take into account and pay attention to.

What are the opportunities for interior architects in your given topic?

My chosen topic is Retail. In my perspective, in the evolving landscape of retail design, interior architects have the chance to shape the future of shopping by embracing these opportunities and staying at the forefront of design trends and technology integration. Their role extends beyond aesthetics to creating immersive, sustainable, and inclusive environments that cater to the changing expectations and needs of consumers.

Should interior architects be aware and design for future trends? Why or why not? not 100% sure. For me, interior architects should be aware of and design for future trends to remain competitive, meet client expectations, leverage technology, promote sustainability, and create innovative solutions. By embracing trends, interior architects can not only stay relevant in the industry but also contribute to its advancement and growth.

Week 2 What do you think is an interior architect's value proposition to their clients?

In my view, the main components of an interior architect’s value proposition are A designer’s skill, customization, space optimization, sustainability, innovation, regulatory knowledge, project management, resource access, value for money, client-centered approach, artistic vision, long-term value, enhanced resale value, and trend knowledge Do you think we as an industry need to strengthen the architect's value in the public's eye? Why or why not?

Strengthening the value of architects in the public’s eye is essential for fostering a greater understanding of their expertise, promoting quality and safety, encouraging innovation, and ensuring the continued positive impact of the architectural profession on society and the built environment.

Week 3 What value do interior architecture firms provide their clients, and is this value unique?

The value that interior architecture firms offer should address, resolve, and respond to the issues that their clients are facing. While certain values may apply universally, it’s crucial to maintain a few specialized or custom items in the business for the benefit of the customers.

G| Personal Learning

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Is it important for interior architecture firms to analyse their competitors? Why or why not?

I think interior architecture companies should research their rivals because doing so will help them better understand how their goods and services are positioned in the market. Businesses can learn what they might be missing or what unique selling point or specialty they have that the competition does not by analyzing their competitors.

How can interior architecture firms establish themselves apart from their competitors?

Businesses can set themselves apart by having a distinct and long-term objective, comparing and forecasting future trends, and assessing the values of the market as it is always changing.

Building a solid brand and identity for the business will also help them stand out from rivals. In addition, building trusting relationships with both clients and staff members can greatly increase a company’s appeal.

Week 5 Do you think interior architecture firms need to have a long-term vision? Why or why not?

Yes, having a long-term vision enables businesses to stay ahead of the competition, anticipate trends in the industry, and adjust to changing client needs. Additionally, it encourages consistency, motivates staff, and helps the business build a solid reputation and market position over time.

Should interior architecture firms update their visions regularly, or maintain one for the entirety of the business?

While updating the vision is beneficial, it’s essential to maintain consistency in the core values and principles that underpin the firm’s identity. Changes to the vision should build upon the firm’s existing strengths, culture, and identity rather than completely reinventing it.

Week 6 Do you think clients remunerate interior architecture firms' value appropriately? Why or why not?

I believe that clients undervalue the services provided by interior architecture firms. Interior architects are frequently disregarded because they primarily occupy the space between interior designers/decorators and architects. In my opinion, their ability to combine technical expertise with aesthetics and functional design elements makes them highly valuable in shaping the final product of a project.

How can interior architects better communicate their value to prospective clients?

Setting aside time and money to elevate your own work to a recognized standard sets you apart from other interior architects. Additionally, demonstrating rather than describing aids the client in understanding the value that design can bring to their company.

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G| Personal Learning

Week 7 What is Positioning and why is it important?

Positioning refers to a company’s standing among other businesses in its industry.

It is important because it is used to distinguish one company from another, since every company has different target clients and methods for providing interior architecture services in general.

What does a good business positioning look like?

A brand that appeals to its target market could be promoted as a smart business strategy. It speaks to specific needs and desires of its intended audience and persuasively illustrates how their product would satisfy their tastes or ease particular problems in their lives. Preferably, it would concentrate on a particular niche, which aids the business in developing a more effective value proposition that clearly benefits its intended market.

Week 9 Do you think interior architecture firms have different business models or do most firms use the same generic business model? Why do you think so?

I think that different interior architecture firms have different business models, but those that occupy similar positions in the market might have more in common with one another. They, in my opinion, have distinct business models since each one generates unique values that correspond with various target markets.

How can interior architecture firms strengthen their business model to stand out from other interior architecture firms?

An architecture firm can create a speciality and distinctive design service that offers more than a standard firm would in order to strengthen its business model. Another effective strategy to establish a recognizable brand and, consequently, a solid, trustworthy relationship with each client is to concentrate on the quality of each project.

REFLECTION I discovered during this assignment that beginning a business is more difficult than it first seems. It requires several stages of planning, which must be adjusted as the plan is developed to provide a strong base upon which the business can be built. When I go back and review my own proposal, even after several iterations with Linus, there’s always a small tweak that could be made to make the business better overall.

It took a lot of time to put together a business proposal, but it was necessary to show why your company is desirable, feasible, and viable in the market. I had to modify some of my business strategies as I worked to turn my idea into a reality because they did not support my long-term objectives.

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