Today we’d like to introduce you to Bailey Barclay.
Alright, so thank you so much for sharing your story and insight with our readers. To kick things off, can you tell us a bit about how you got started?
During the pandemic I started refinishing furniture to make some money and keep busy. I started an instagram account called Rankin Design, where I documented the furniture flips. In the back of my mind, I was exploring the idea of a full career shift. I had always been intrigued by interior design and with perfect timing, a friend wanted their home refreshed. With all the time in the world, I was able to ride out the pandemic developing skills and pretending to be an interior designer. I showed what I could do on that instagram account and was very fortunate to find myself working as a contract designer for a company that furnishes Airbnbs. About 6 years later, I’ve branched off on my own and Rankin Design is now a growing interior design studio that specializes in short term rental design, project management, and installations.
I’m sure it wasn’t obstacle-free, but would you say the journey has been fairly smooth so far?
It’s difficult to gain client trust when you are a young company, and guess what – all Airbnb design firms are young companies. There’s no one in this industry who can say “I’ve been doing this for decades!” Even though Airbnb has been around for a while, when you think of it as an industry (investor money, designers, large property management companies, etc) – its very young in comparison to traditional hospitality sectors. It’s also a new(ish) way to build a lot of wealth and take advantage of tax loopholes. I think of the whole industry as one giant start up, sometimes. There’s constant growth, leveling up, and a lot of entrepreneurial spirit. This also means there are a lot of first-time investors, worried about their ROI. Even as I’ve built somewhat of a reputation, first-time hosts are very wary of spending their hard earned money on what they see as a somewhat unproven concept.
One of my recent projects, The Trailhouse in Louisville, KY, just went live and I cannot wait to see how much money it makes in year one. I’m confident it will be a top earner in that market, but it took a lot of convincing to get my clients on board with the budget I presented. I pushed them to go all-in and invest more than they had planned. This is so hard for me to do – I hate asking for money! Sometimes it is just really clear that if the client doesn’t fully invest and do it right the first time, they’ll actually end up losing money in a few years and have to sell the property at a loss. I do this everyday so I know exactly how much I need to make a competitive listing, but when you’re forecasting your ROI and seeing that initial investment grow – yikes!
What was great about these clients was they truly understood what made a property stand out. They wanted to see those scroll-stopping moments and I didn’t need to explain why or how a wallpapered ceiling would make a room pop. I remember a meeting where I somehow gained enough of their trust for them to agree on a solid budget and it was smooth sailing from that point on. The project developed beautifully – I’ll share the photos for this article!
I don’t always finish a design job feeling this way. There are certainly projects where I know the property could perform better had we done more. I just have to keep going, keep proving myself one client at a time, and someday my brand will be strong enough that I (hopefully) have some built-in trust from the beginning. A tale as old as time for the entrepreneur!
Alright, so let’s switch gears a bit and talk business. What should we know?
We are an interior design studio that specializes in short term rental design. Our process has three phases, separated in a way that maximizes efficiency. A lot of our clients have tight timelines! After a kick-off call, we’re all on the same page about the design direction, budget, and project goals. We put that into action for Phase 1, where you get two spaces fully designed in addition to an estimated floor plan. We get client feedback on this first phase, making sure we’re heading in the right direction. Design terms can be so subjective – modern, coastal, bohemian, funky – these words mean different things to different people! Phase 1 is a necessary check-in that helps us keep the timeline tight. Clients don’t want to get held up by revisions and we don’t want to spend 60 hours designing an entire home to find out it wasn’t what the client had in mind! Phase 2 is the whole shebang – every space fully designed and all products sourced. Clients review a design deck that presents each space thoroughly. We use a mix of 2-d visuals, 3-d visuals, AI renderings, and floor plans. Orders can be placed the moment Phase 2 is approved. After orders are placed, we build out a 3d model of the entire home showing exactly what you’ve purchased. This is Phase 3! You get an expanded design deck that has installation instructions, exact measurements for every piece of art, how-to’s for pillow styling, bed making, and styling. There is ZERO guess work when you use Rankin Design.
Networking and finding a mentor can have such a positive impact on one’s life and career. Any advice?
Oh gosh I have no advice here. 75% of my time is spent staring at computer screens running this business. The rest of my time is spent taking care of my 9 month old! Networking is something I should do more of. I recently attended an event hosted by Ruggable and Pinterest for Nashville designers and it was lovely! I met a woman who lives down the street from me and also has young kids. I met another woman who put me in contact with a trusted source to help me find a few interns. So I guess my advice about networking is, do it.
Pricing:
- For design services, I charge a flat fee by the square footage of your home. I also charge flat fees for a la carte services such as project management, installation management, and on-site styling.
Contact Info:
- Instagram: https://www.instagram.com/rankin.design/
