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Engineering Consulting Business Plan

Without professional engineering consulting advice, any science, technology, or related business is likely not going to succeed to its full potential.

Likewise, any business needs a clear roadmap to drive it to success. A business plan will provide directions to your business like a roadmap.

Need help writing a business plan for your engineering consulting business? You’re at the right place. Our engineering consulting business plan template will help you get started.

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How to Write An Engineering Consulting Business Plan?

Writing an engineering consulting business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the whole business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Engineering consulting services:.

Highlight the engineering consulting services you offer your clients. The USPs and differentiators you offer are always a plus.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information:

Describe what kind of engineering consulting company you run and the name of it. You may specialize in one of the following engineering consulting businesses:

• Civil engineering consulting
• Mechanical engineering consulting
• Electrical engineering consulting
• Industrial engineering consulting
• Describe the legal structure of your engineering consulting company, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

If you’re an established engineering consulting service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc.

Future Goals

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Describe your market size and growth potential and whether you will target a niche or a much broader market.

Competitive Analysis:

Market trends:.

Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your engineering consulting firm business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Engineering Consulting Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your consulting services:

Mention the engineering consulting services your business will offer. This list may include services like,

• Engineering design & analysis
• Project management & planning
• Sustainable engineering solutions
• Technology consulting & innovation

Describe each service:

Additional services.

In short, this section of your engineering consulting plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your engineering consulting business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your engineering consulting business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Operational process:, equipment & software:.

Include the list of equipment and software required for engineering consulting business, such as communication tools, project management software, field equipment, financial & accounting software, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your engineering consulting business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

Introduce your management and key members of your team, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your engineering consulting services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should summarize your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your engineering consulting business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

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This sample engineering consulting business plan will provide an idea for writing a successful engineering consulting plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our engineering consulting business plan pdf .

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Frequently asked questions, why do you need an engineering consulting business plan.

A business plan is an essential tool for anyone looking to start or run a successful engineering consulting business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your engineering consulting company.

How to get funding for your engineering consulting business?

There are several ways to get funding for your engineering consulting business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your engineering consulting business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your engineering consulting business plan and outline your vision as you have in your mind.

What is the easiest way to write your engineering consulting business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any engineering consulting business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

How do I write a good market analysis in an engineering consulting business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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We have over 550 sample business plan templates . So, make sure the plan is a close match, but don't get hung up on the details.

Your business is unique and will differ from any example or template you come across. So, use this example as a starting point and customize it to your needs.

2. Remember it's just an example

Our sample business plans are examples of what one business owner did. That doesn't make them perfect or require you to cram your business idea to fit the plan structure.

Use the information, financials, and formatting for inspiration. It will speed up and guide the plan writing process.

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To create a plan that fits your needs , you need to know what you intend to do with it.

Are you planning to use your plan to apply for a loan or pitch to investors? Then it's worth following the format from your chosen sample plan to ensure you cover all necessary information.

But, if you don't plan to share your plan with anyone outside of your business—you likely don't need everything.

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Business Plan Template for Engineers

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Thinking of starting your own engineering business or seeking funding from investors? Look no further than ClickUp's Business Plan Template for Engineers! This template is specifically designed to help engineers outline their goals, strategies, financial projections, and marketing plans, providing a comprehensive framework for their engineering ventures. With this template, you can:

• Clearly define your business objectives and target market
• Outline your strategies for success and growth
• Create financial projections to impress potential investors
• Develop a solid marketing plan to attract clients and customers

Don't let the daunting task of creating a business plan hold you back. Get started with ClickUp's Business Plan Template for Engineers and turn your engineering dreams into a reality!

Business Plan Template for Engineers Benefits

When engineers utilize the Business Plan Template, they gain a multitude of benefits to help kickstart their engineering ventures:

• Streamlined organization of business goals, strategies, financial projections, and marketing plans
• Clear communication of the engineering venture's vision and mission to potential investors or stakeholders
• Increased credibility and professionalism in the eyes of investors or lenders
• Strategic analysis of the engineering market, competition, and potential risks
• Comprehensive financial projections that demonstrate the venture's profitability and potential return on investment

Main Elements of Engineers Business Plan Template

ClickUp's Business Plan Template for Engineers provides the perfect structure for engineers to showcase their ideas, strategies, and financial projections to potential investors. Here are the main elements of this template:

• Custom Statuses: Track the progress of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do, ensuring that all tasks are organized and on track.
• Custom Fields: Utilize custom fields such as Reference, Approved, and Section to add important details and keep all relevant information easily accessible within each task.
• Custom Views: Access different perspectives of your business plan with views like Topics, Status, Timeline, Business Plan, and Getting Started Guide, allowing you to analyze your plan from various angles and ensure comprehensive coverage.
• Collaboration Tools: Enhance teamwork and streamline communication with features such as task comments, file attachments, and real-time collaboration, enabling engineers to work together seamlessly on their business plan.

How To Use Business Plan Template for Engineers

Creating a business plan as an engineer can be a daunting task, but with the Business Plan Template for Engineers in ClickUp, you can simplify the process. Follow these five steps to create a comprehensive and effective business plan for your engineering venture:

1. Define your business goals and objectives

Start by determining the purpose and goals of your engineering business. Consider what services you will offer, your target market, and the unique value you bring to the industry. This will help you establish a clear vision for your business.

Use the Goals feature in ClickUp to set specific, measurable, attainable, relevant, and time-bound (SMART) goals for your engineering business.

2. Conduct market research and analysis

To develop a successful business plan, you need to understand your market and competition. Research the engineering industry, identify potential customers, and analyze the demand for your services. This will help you identify market trends, assess the competitive landscape, and determine your competitive advantage.

Use the Docs feature in ClickUp to compile your market research findings and create a comprehensive analysis of the engineering industry.

3. Develop your business strategy

Based on your market research, outline your business strategy. Define your target market, pricing strategy, marketing plan, and sales approach. Additionally, determine your operational processes, resource requirements, and key partnerships that will support your business operations.

Utilize the Board view in ClickUp to visually map out your business strategy and create actionable tasks for each component.

4. Create a financial plan

A crucial aspect of any business plan is the financial plan. Project your revenue, expenses, and cash flow to determine the financial feasibility of your engineering business. Include details such as startup costs, ongoing expenses, pricing structure, and revenue projections.

Use the Table view in ClickUp to create a financial spreadsheet and track your expenses, revenue, and profitability.

5. Monitor, evaluate, and revise

Once your business plan is in place, it's important to regularly monitor its progress, evaluate its effectiveness, and make necessary revisions. Keep track of key performance indicators, assess your business's performance against your goals, and make adjustments as needed to ensure your engineering business stays on track.

Set up recurring tasks and reminders in ClickUp to review and update your business plan regularly, ensuring it remains aligned with your evolving goals and market conditions.

By following these steps and utilizing the Business Plan Template for Engineers in ClickUp, you can create a well-structured and comprehensive business plan that sets your engineering venture up for success.

Get Started with ClickUp’s Business Plan Template for Engineers

Engineers who are starting their own businesses or seeking funding from investors can use the Business Plan Template for Engineers in ClickUp to create a comprehensive plan for their engineering ventures.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a solid business plan:

• Use the Topics View to outline and organize different sections of your business plan, such as executive summary, market analysis, product development, and financial projections
• The Status View will help you track the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do
• The Timeline View will provide a visual representation of your business plan, allowing you to set deadlines and milestones for each section
• The Business Plan View will give you a comprehensive overview of your entire plan, allowing you to easily navigate between sections and make updates
• Use the Getting Started Guide View to get a step-by-step breakdown of how to use the template and create your business plan
• Customize the Reference, Approved, and Section custom fields to add additional information and track the status of each section
• Collaborate with team members and stakeholders to gather input, make revisions, and ensure your business plan is comprehensive and compelling.
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How to start an engineering firm of one in 5 steps

Discover simple rules for success from a mechanical engineer who took the leap and started her own engineering firm.

April 20, 2022

To start your own engineering firm, you’ll need to write a business plan, set up the legal structure and work environment, and get help for marketing and other nonengineering tasks.

Uncertainty and cash flow are two of the biggest challenges of starting your own firm.

Freelance engineers quote their fees as hourly, fixed fee, or cost-plus amounts; look for industry standards for how much to charge.

One self-employed engineer’s experience has taught her the value of a strong network for finding suppliers, contractors, and new clients.

There’s a silver lining to the Great Resignation: It spurred a record number of people to start new businesses. According to NBC News , the Census Bureau’s Business Formation Statistics dataset shows a surge in people filing tax paperwork to start new businesses. From January to November 2021, just under 5 million new business applications were submitted, representing an increase of 55% over the same period in 2019.

Running your own business isn’t for everyone, but if you’re curious about how to start an engineering firm, that’s a good sign. You should be an engineer who likes to be the boss, is okay with uncertainty, doesn’t mind constantly hustling for work, and has a passion for both business and engineering. If all of the above applies, you may be the type of person to succeed in starting an engineering enterprise.

How to start an engineering firm

Before you begin this adventure, it’s important to understand some basics of how to build a successful foundation for your firm—and how to steer clear of common pitfalls for new businesses. Here are five things to consider when opening your engineering firm:

1. Create a business plan

You may be an expert in your engineering discipline but not know the first thing about creating a business plan. Don’t know how? A number of online resources can point you in the right direction. The guide from the Small Business Administration (SBA) on how to write a business plan is a good place to start.

Creating a business plan forces you to think through the foundations of your company: the services you will provide, what will differentiate your business from other engineering firms, the types of clients you want to work with, how you will attract those clients, and your financial projections. A business plan is an important way to understand what you’re building—and can also be a way to get funding for your start-up.

2. Figure out your legal structure, and get insurance

Figure out what legal structure will be the best fit for you, and register your business with your state. The legal structure has tax and liability consequences, so do your research and choose carefully. You can always change your firm’s legal structure as it grows. You may start out as a Limited Liability Company (LLC) but eventually change your structure to an S-Corp once you have a substantial number of employees. Learn more about business legal structures at the SBA’s legal structure page .

Whether or not you’re a licensed engineer, you need to get professional liability insurance to protect your firm in case a disgruntled client or someone else sues. If you’re licensed, getting sued may affect your license. Even if you’re confident in the quality of your work and believe you won’t face legal action, you still have to get liability insurance to protect your firm from an unpredictable event that could have serious financial consequences. There are insurance companies that specialize in professional liability insurance for engineers. Ask similar engineering firms whom they contract with, or research companies online.

3. Select the right office environment, tools, and software

Working remotely has become the norm in today’s world, which lends tremendous flexibility to how you can structure your office environment. The only tools you really need to provide most services are a laptop, the right software, and Wi-Fi. To keep overhead costs low, working from home, a hotel, a friend’s place, or a coffee shop are all viable alternatives to renting office space.

When working remotely, you may sometimes need to meet clients in person. The key is finding a reliable meeting place that will bolster your professional image. Some coffee shops or other venues provide “conference rooms” you can book ahead of time, and some coworking spaces rent out rooms to drop-ins.

You won’t be able to bypass buying the right software for your engineering firm. Plan for this cost as an essential building block for your business to serve clients. If you need other tools for your firm, such as a 3D printer or other prototyping machinery, you may want to join a coworking space that furnishes them. Paying the extra money for a coworking membership gives you hidden benefits like access to other professionals who may provide synergies, such as businesses to partner with or even potential client contacts.

4. Marketing

Without marketing, you may not have a sustainable business. Even if you’re lucky enough to start the business with a list of clients onboard, that work may eventually dry up, and you’ll need to market your firm to get new clients.

Understanding your target clientele will help focus your marketing efforts. For example, if you’re a civil engineer targeting infrastructure work, market to governments by getting on their lists of qualified vendors. If you’re an electrical engineer, do business-to-business marketing with companies that design electronics. If you work with the general public, social media marketing may win you clients.

Marketing often involves person-to-person interactions. Engineers are stereotyped as introverts who would rather be home tinkering on their latest projects instead of out meeting people. If that’s true for you, running your own business requires either strengthening your people skills or partnering with someone who enjoys meeting with people. For example, if you’re a structural engineer, attending networking events with people in the construction industry—such as architects, developers, and contractors—would be a great way to meet and secure new clients.

5. Get help

Starting your own engineering business doesn’t just consist of getting clients and doing the work; it also includes billing, bookkeeping, filing taxes, drafting contracts, and running payroll if you have employees. It may be tempting to do everything yourself, but that’s not always the best use of your time. Unless you’re trained as both an accountant and engineer, chances are that retaining a certified accountant would be a better choice than filing your own business taxes. Even if it costs money upfront to hire someone for tasks not in your wheelhouse, it may save money in the long run.

You may eventually have enough work to hire employees. Hiring part-time employees who can help with tasks such as drafting or running calculations is an effective way to begin. The more you can afford to delegate tasks to others, the more it frees you up to do things only you can do, such as envisioning and building your firm into what you want it to be.

The challenges of being your own boss

The familiar adage “with great power comes great responsibility” couldn’t be truer when it comes to owning your own business. As your own boss, you have the power to choose how much, where, and with whom you work. However, this comes with the great responsibility of paying your bills even when business is slow. If you have employees, the responsibility is even greater, because you have to meet payroll and provide a stable, positive, and professional work environment.

Dealing with uncertainty presents one of the biggest challenges of being your own boss. When you work for someone else, you can rely on a regular paycheck. But when you’re responsible for rustling up business, paychecks become anything but regular. Engineering businesses can be vulnerable to economic downturns, world events, specific sector shifts, and new technologies and innovations that affect business detrimentally. If you’re just starting out with a solo practice, you may become too busy working on current projects to focus on other aspects, like marketing, which could leave you with no new paying work while bills and expenses roll in.

Cash flow is another big challenge. It’s highly recommended that you amass savings—at least a year’s worth of living expenses—before you make the leap into full-time entrepreneurship. The uncertainty of money coming in combined with the certainty of expenses—business or personal—means that having savings to fall back on when it’s a slow billing month can prevent a great deal of stress and give you enough flexibility that you aren’t forced into a corner with creditors, your landlord, or others. When you’re starting out, there will be some months that you can’t pay yourself. That’s where savings can fill the gap.

How to master fee quoting

When you’re starting your own firm and haven’t been involved in the business dealings of companies you’ve worked for, it’s almost impossible to know what to charge. In most circumstances, there are industry standards for what and how to charge. The best way to find out the industry standard fees in your specific engineering discipline is to talk with other engineering firms. If this is not possible, you can always research online.

Some basic ways of charging include hourly, fixed fee, and cost-plus. The first step is to come up with your hourly rate and the hourly rate of any staff or contractors who work for you. Once you have these figures in mind, you can opt to charge a client hourly for the work you perform. There are a variety of apps that keep track of hours worked and can be shared with your client at billing time.

Another common method is charging a fixed fee. There are several ways to determine a fixed sum. You can estimate the number of hours it would take you or members of your team to complete the task; other industry standards include charging per square foot if it’s a construction project or charging a percentage of the ultimate cost of building the product.

Finally, you could charge clients cost-plus. This is an appropriate method to use when you have a good handle on the costs involved in executing, manufacturing, or building the final product. Cost-plus means you charge an extra fee on top of what it costs to build the product. You may be building the product yourself or contracting with someone who is building it. The fee to your client is whatever it will cost you to have the product built plus an extra fee for your expertise, management, and time.

First person: Subi Shah on starting her own firm

Subi Shah is a Chicago-based writer, maker, and mechanical engineer who started her own engineering firm. “I left my job as a salaried mechanical engineer because I didn’t have as much ownership in my projects as I wanted,” Shah says. “I wanted a career with more accountability and engagement with what I was working on, and I wanted more control of how I was spending my time.”

As a mechanical designer, Shah makes clients’ ideas into physical things, such as an insert for a blender or a mountable light fixture. For ideating, designing, modeling, and prototyping, she accesses 3D printing through a hardware-specific coworking space. “Think about the tools you need and whether you have access to them,” Shah says. “A few upfront investments in time or money can help you out in the long run.”

To make prototypes for clients, Shah has discovered many raw-material suppliers and manufacturers already vetted through her network of makers, which has also helped her find new clients and opportunities. “In my coworking space, I’m surrounded by people with ideas for physical products, so our needs often match up,” Shah says. Networking can happen through coworking, social media, or industry meetups in your area.

She also relies on her network for subcontractors when she can’t complete a project alone due to time constraints or lack of expertise. “If a client wants me to do electrical work in addition to mechanical work, I know I need to subcontract an electrical engineer,” she says. “Fortunately, I know someone; otherwise, it wouldn’t be wise to take on that client.”

Communication is key to successful freelancing. Clients should be kept in the loop, especially regarding any complications or delays, which can occur due to factors outside of your control such as supply-chain issues for a part sourced from overseas. Establishing good relationships with existing clients can also pay it forward for your business. “Some clients will want to hire you again, so before the project is over, start talking about next steps and future projects,” Shah says, noting that to drum up new business, “creating a portfolio online can let prospective clients easily see your engineering consulting firm’s past work.”

To sum it up in Shah’s words: “Freelancing can be great, but it’s definitely not the same as a salaried job. Sometimes, you’ll have a lot of work, sometimes none. It’s just like riding a bike: It’s really hard at first, and then you have to constantly pay attention to your surroundings to succeed.”

This article has been updated. It originally published in August 2015. Subi Shah contributed to this article .

About Taz Khatri

Taz Khatri is a licensed architect and she has her own firm, Taz Khatri Studios. The firm specializes in small multifamily, historic preservation, and small commercial work. Taz is passionate about equity, urban design, and sustainability. She lives and works in Phoenix, AZ.

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