EP 422 | Succession Planning: How Interior Designers Build Firms That Can Be Sold with Brad Farris
April 1, 2025
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If you want the option to sell your design firm one day—even if that day feels far off—the decisions you make nowmatter. In this episode, Kimberley Seldon is joined by Brad Farris to break down what actually makes an interior design business valuable, transferable, and attractive to buyers.
Brad shares the key factors that influence a successful sale, including why owner dependency is the biggest obstacle, how recurring work increases valuation, and why growth planning plays a critical role in succession. This conversation isn’t just about exits—it’s about building a stronger, more resilient business that doesn’t rely entirely on you.
Whether you’re years away from selling or simply want a firm that can run without your constant involvement, this episode will help you start thinking like an owner with options.
What you’ll learn in this episode:
- Why a business can’t be sold if the owner is essential to daily operations
- How building a team and stepping away is practice for succession
- Why repeat clients and long-term relationships increase business value
- Why niche, repeatable work is more valuable than one-off projects
- How building relationships with potential buyers early creates opportunity
- Why understanding business valuation math matters long before a sale
- Who your most likely buyers are—and how to position your firm for them
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DESIGN INTERVENTION
Have more conversations with people who can hire you. For most creative services businesses, we don’t need 1000 clients; we need 10 or 20. Instead of reaching out to hundreds of people, focus on reaching one more person and talking with them. Let them experience you, not just your “content.” This process is the fastest and easiest way to land new clients.
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Legal Disclosure | This podcast is for educational purposes only and should not be used for any legal decisions. Kimberley Seldon Design Group, Kimberley Seldon Productions Inc., Kimberley Seldon Design and Media, Inc., Business of Design™, or any of its affiliated companies or staff is not responsible for any errors or omissions effecting accuracy in any content, and they will not be held liable for the use or misuse of information, facts, details or any other aspects should there arise any defects, errors, omissions or perhaps inaccuracies. Extensive research has been conducted to put this podcast together for the purpose of educating our industry in order to better serve the public. Care has been taken to acknowledge ownership of copyrighted material. The advice and strategies contained herein may not be suitable for every situation. This work is offered with the understanding that we do not render any legal, accounting or other professional advice. Seek the advice of a lawyer and/or other competent professional person in all matters of law. Further, listeners should be aware that internet websites mentioned may change or disappear between when this was recorded and when it was listened to.