Episode 22 - The Business Plan

In this episode of the "Part 3 With Me" podcast, host Maria Skoutari discusses the importance of creating a business plan for architecture students starting their own practice, which falls under PC4 Practice and Management of the Part 3 Criteria. She outlines the key components of a business plan, dividing it into six sections: company details, business potential, service offerings, promotion and marketing, business arrangements, and financial details including cash flow. Maria emphasizes setting business objectives, seeking advisors, understanding the market, determining pricing structures, and developing a marketing strategy. The episode concludes with a scenario analyzing the pros and cons of a small practice taking on a large-scale project, specifically a student accommodation building, and the factors to consider in such a decision.