ABSTRACT
The profit made by the practice will depend on bringing in enough work, charging the right fee for each project, the overheads, and how much employees are paid. Every practice must achieve a balance between fee income and company overheads and generate a profit in order to survive and thrive. Working outside the UK is becoming more common, with the increase in digital communication and collaboration, but a small practice should carefully consider whether a project will be financially viable, especially if there will be a lot of time spent on site. Despite the huge number of sole practitioners and small practices, there is little or no part of an architectural education that prepares the architect to run their own business. If a small practice is well set up and professionally run, the practice should be able to grow to five or more members with ease if growth is an objective.
