Improve Project Profitability - An Architects Guide
Inflation and the Covid-19 pandemic have inevitably impacted the profitability of architecture practices. According to the annual RIBA state of the industry, Business Benchmarking Summary, overall practice revenue was down by 15% in 2021 compared to the 2020 report. Unsurprisingly, there was nearly a third in reduction of revenue from …
Pricing Methods for Architects - How to Price Architecture Services
There are various pricing methods for architects, and while there are few guarantees regarding profit levels, there are some good practices to follow. In our latest article we look at how you can price your architecture services
Calculate your cost rate in 3 simple steps
I often host workshops with architects on practice management. One of the exercises I do is to ask the audience to calculate the cost rate of a fictitious architect, given a set of financial and timesheet data. So far (and hundreds of architects have made the attempt), no one has …
When to hire? 3 factors that will change your view.
The UK construction industry enjoyed a recovery in 2021. And the great news is, this positive trajectory is expected to continue through 2022 and beyond: “With Government investment in transport and renewable energy driving the recovery and residential continuing to strengthen, analysts are expecting this positive outlook to continue through …
Didn’t reach your profit goals in 2021? Try getting these 5 basics right in 2022.
If your practice can improve on these 5 basic steps, you’re off to a flying start! 1 Start every project with a profit-inherent fee! From accurate charge out rates to realistic project time per stage, architectural practices get this crucial step wrong more times than not. The good news is …
3 questions you need to answer.
It’s all about focus. Making your architectural practice more profitable is actually quite simple. All you need to do is focus on the right kind of projects, the right kind of clients and ensure your employees are productive in the right way. Sounds easy, but determining what “right” is for …
Is there a secret to being a profitable practice ?
What is certainly not a secret, is that architects are not particularly excited by the financial management aspects of running a practice. At Fresh Projects, we believe that is the way it should be. We understand that architects became architects to create great spaces and design timeless buildings. Not to …