Interior design firm grows through relationship-based strategies – Business Observer

A degree in psychology isnt required to practice interior design. But it can help.

Tracee Murphy, CEO and principal designer of Sarasota-based interior design firm Trade Mark Interiors, pursued a career in design after first earning a psychology degree. It wasnt until I was out of college and had myown place that I started to find it and fall in love with it, Murphy says. I began to do my house, my neighbors house and neighbors cousins house. It just naturally evolved.

Murphy went back to school to earn an interior design degree when she had two young children and a part-time job. After about five years of working in interior design, she realized her degree in psychology was coming in handy whileshe worked closely with clients, in dealing with conflict between spouses and navigating differing opinions on projects.

Courtesy. The majority of Trade Marks work comes from doing additional projects for existing clients or from clients referring neighbors, friends and family.

This year, her firm marks 20 years in business.Murphy started Trade Mark Interiors in Pennsylvania and moved the firm to Sarasota 14 years ago. Her firm works on residential and commercial projects, with about 60%residential and 40% commercial. Whilenot disclosing specificrevenue figures,Murphy says the company did more than $1 million in 2019 revenue and is on track to grow 25% in 2020.

And despite the pandemic, the firm isnt slowing down. It has big projects in progress, and Trade Mark is getting calls from companies that want help downsizing their offices.

The majority of Trade Marks work comes from doing additional projects for existing clients or from clients referring neighbors, friends and family. For instance, the company did a couples bathroom renovation, and when they moved, Trade Mark designed their new home. When the husband moved offices, the firm designed a new corporate office for him. Its a very close relationship when youre designing with someone, Murphy says. Youre talking about, How do you live? How do you and your husband use your bathroom?

With project cycles that can last a year or two, bonds naturally form. Were friends with a lot of our clients, she says. Were included in a lot of their celebrations and functions. Its definitely an ongoing relationship.

Murphy, who has three employees, says a team approach also helpsset the firm apart. With an office manager and three designers, projects have the benefit of multiple perspectives. Its not, you take this job, and I take that job, she says. We collectively work on every project. I think that makes a big difference.

The multidesigner concept often helps the firm secure work. When talking to clients and securing new clients, its come up over and over again, Murphy says. They knew nothing would fall through the cracks, timelines would be met, and they felt excited about three designers eyes.

We collectively work on every project. I think that makes a big difference. Tracee Murphy, Trade Mark Interiors

Another key aspect of bringing new clients on board is an education process. I know enough to educate my clients at the beginning of the project,s so they understand our value, what we do, and they understand the difference between us and bargain shopping on the internet, Murphy says. Ive also done this long enough to understand the red flags of people who may not understand that. I learned the value of saying no.We dont just take any job. We qualify our clients as much as they qualify us.

During the pandemic, while some companies plummeted, Trade Marks business has spiked. We are extremely busy, Murphy says. Were getting a lot of phone calls for renovations, new construction and all different-sized projects. Part of that, she thinks, is because people are spending more time at home and deciding its time to make upgrades. The largest residential project the firm has started since the pandemic is a 9,000-square-foot whole house renovation.

The firm has kept projects moving during the pandemic by harnessing a resource called Material Bank that gathers vendor samples, from wallpaper to fabric to flooring. Instead of running around to 25 showrooms, the firm can have samples shipped to them. Its a resource we used 15% to 25% of the time prior to COVID-19, Murphy says. Since April, we started using Material Bank 80% to 90% of the time. It enabled us to keep our new construction projects moving along without missing a beat.

On the commercial side, Trade Mark received several inquiries lately from companies moving into smaller offices because employees are working from home. They need Trade Marks help to bring their brand into a new space and make it functional.

Despite a busy pandemic period, Murphy is still focused on the companys future. She wants Trade Mark to remain a boutique design firm, but shed like to have a full residential division and commercial division. The goal is to have a duplicate team of what we have now, she says. Were going to keep trucking along and following the plan.

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Interior design firm grows through relationship-based strategies - Business Observer