When thinking about starting an interior design business, it’s not too soon to think about what happens when you’re ready to exit the business. That’s where franchising offers a distinct advantage.
Franchising enables you to put in business and project management systems that are more easily transferred. Franchising means your successor will have the same fantastic support and camaraderie with other business owners that you have. Franchising provides continuation of supplier relationships. And more.
Depending on their experience, potential new owners may benefit from progressing through extensive interviews, assessments, and completing the company’s Decorating Den Interiors University multiphase education program as those opening a new franchise would.
Here are three very recent examples from Decorating Den Interiors.
Third Owner of a Franchise
Maryann Fisher started as an administrative assistant for a previous franchise owner in Chambersburg, Pa., eventually became a decorator and took over ownership in 2007.
“I’ve had wonderful clients who have helped me win many design and business awards, including Franchise Owner of the Year.” Maryann said. “I was fortunate to become well-known in the community for my creative designs, access to custom quality furnishings, involvement in the arts and other activities, and for my billboards.”
Last year, Maryann mentioned to a contractor that she intended to retire. He passed along that information to another contractor who had a daughter interested in interior design.
Alyssa Weiss had just graduated from college with a business degree and lots of art and interior design classes online. She had several interior design internships and worked for her dad in his house flipping company where she got more hands-on experience with the contracting side of interior design.
She wanted to own an interior design business in 5-10 years but didn’t want to miss the opportunity that Maryann was offering.
Maryann used a billboard, of course to introduce Alyssa. “I’m still working with her – more as a sales mentor, but I’m living my perfect world now,” Maryann says.
“This was a terrific opportunity for me. It was everything I wanted in a career,” Alyssa said. “It has been an amazing experience working alongside Maryann and learning so much from her. I hope to keep this franchise going for many more years to come.”
“We are thrilled with this transition,” said James S. Bugg, Jr., CEO and President of the Easton, Md.-based company. “It’s especially gratifying when a franchise has the longevity to be gain a third owner. Alyssa was even among our sales leaders in October.”
From Retirement Funds Investment to Success to Sale of Business
Bohnne Jones, Nashville, Tenn, was featured in a Inc.com article showing how she used retirement funds in 2007 to buy a Decorating Den Interiors franchise without incurring taxes or penalties through a Rollover for Business Startups (ROBS). This legal process allows aspiring business owners to invest their 401(k), IRA, or other eligible retirement savings into a new or existing business.
In the next 18 years, Bohnne built a very successful franchise, winning numerous design and sales awards. She was named Franchise Owner of the Year, the company’s highest business award in 2018.
Early on, Bohnne (left) developed a relationship with Tennessee State University’s Interior Design Program, which resulted in her having a succession of interns in her business. Nine years ago, one of them was Ciera Farley (right)
After graduation, Ciera stayed on with Bohnne. Her responsibilities grew. She helped Bohnne win awards and passed the in-depth exam to become a Decorating Den Certified Decorator, the company’s highest interior design certification.
A few years ago, Bohnne started thinking of slowing down. “I began talking to Ciera about taking over the business. Over time we came to an agreement, and she acquired my franchise.”
“DDI is everything I know,” Ciera says. “It only made sense for me to bet on myself and to continue what Bohnne started many years ago. I am beyond grateful to be her successor. She took a chance on me and helped me grow into the designer I am today. Now I get the chance to grow into something even greater.”
From one franchise to another to ownership
“After 36 incredible years of loving my design career and forming countless unexpected friendships, the time has come to pass this amazing adventure on to someone I deeply trust — Annie Abanilla (right),” says Bonnie Pressley, Fort Worth, Texas (Left).
Annie began working for another Decorating Den Interiors franchise in Texas, but when that owner closed her franchise to take a senior executive position in DDI’s corporate office, Annie went off into the corporate world doing marketing, among other things.
A few years later, through a social media post, she reconnected with Bonnie Pressley who owned Pressley Design and Co., another DDI franchise nearby. Annie saw a new opportunity to follow her passion for design, and Bonnie was open to another member of her team.
Having started her franchise in 1990, Bonnie had built a team of seven, Annie made eight. “Annie has been an invaluable part of the Pressley Design & Co. family for the past several years,” Bonnie says. “She’s already an award-winning designer, a consistent leader in sales, and an inspiring role model for our entire team. Her creativity, dedication, and client-focused approach make her the perfect person to carry forward the legacy we’ve built together.”
The Pressley team has been a consistent award winner, including Franchise of the Year. Designer Paula Wolfe, also a DDCD Certified Decorator, was the number one designer who is not a franchise owner in U S sales for 2024.
“I am truly honored to have been given the opportunity to carry forward the legacy that Bonnie built over the past 37 years,” Annie says. “Bonnie and this incredible team, along with DDI, have supported and equipped me in every way, and my deepest hope is to make her proud as I continue the beautiful foundation she created. I am forever grateful.”
“The talented team at Pressley Design & Co. remains as passionate as ever, ready to serve you with enthusiasm and creativity,” Bonnie says. “I am so confident that Annie will continue to nurture and expand all we’ve achieved, providing the same exceptional care and design expertise our clients expect.”
If you’re dreaming of having your own interior design business and wonder how to grow it to be attractive for a resale as an exit strategy, consider our business model. You might even qualify to purchase a successful existing business. To learn more, visit https://decoratingden.com/interior-design-business/ to learn more.