Let’s face it: no matter what they might say, one will always judge a book by its cover. And things are no different with logos. They are like the cover of a brand and, often, the first medium of contact with a firm. That’s why having a catchy logo is so important. So, all the designing decisions you make will virtually turn out to be profit – in both cultural and economic terms.
Are you following me? The conclusion is clear: do not underestimate your work as a designer.
Working in the graphic design industry has several advantages. For instance, creating and designing logos can be an exciting and lucrative career. With more businesses realizing the importance of having a logo in building brand awareness, you can earn more money as a logo designer.
Moreover, establishing a career as a logo designer can be an excellent idea because it provides you with many job opportunities. You can work for a company, do freelance work, or run your studio. Whatever you choose your job is of great value, and you should be charging fairly for what you do.
But what does ‘fairly’ mean? Stay around, and I’ll help you to find your answer.
Factors to Always Take into Account
Don’t feel alone! Junior and senior designers have been asking themselves for ages how much a business logo design should cost. Thankfully, so much time debating brought us some highlights. And whatever your situation, some factors always play a role in your final offer. Learn about them now.
Your Expertise
Are you talented? Be honest! How much time do you spend doing research, or improving techniques? Do you have a solid portfolio? Analyze the market, compare your pros with the offer out there, and put yourself in the right baseline. You can always level up, sure, and working is the best way of doing so.
For example, if you’re a beginner logo designer, you can use reliable logo design software to help improve your artistic abilities. This technology can provide you with professionally-designed templates that you can tweak and modify until you create high-quality logos that suit your clients’ needs.
Hence, whether you’re a beginner or a professional logo designer, consider your level of expertise and valuable years of experience in determining how much you should charge as a logo designer. Remember, creating and designing logos requires creativity, attention to detail, and other essential characteristics. Think about these things before offering a figure to your clients. This way, you can rest knowing you’re appropriately compensated for all your efforts.
Current Demand
Now and then, context is everything. If you’re too busy, maybe that means you’ve got a lot of requirements, and lastly, you’ve been doing a good job that attracts more and more work. Thus, don’t think twice and increase the price! That’s just like fancy restaurants: as more places are booked months in advance, the more expensive they get.
Specs
It sounds simple, but it’s a huge defense mechanism. While drawing a budget, be clear on how many revisions you’re offering and on what the package includes (e.g.: color studies or a presentation that may be sent to partners). All of these details are work you should be charging.
Turnaround Time You’re Willing to Offer
You can’t let a quick response decrease the quality of work. However, quick responses may value your work, in some circumstances. Imagine a frequent customer calls you with an emergency, and, in 48 hours, you can deliver the logo. In a situation like that, you should apply a ‘last-hour tax’. After all, time is money, isn’t it?
However, you should carefully consider the turnaround time you’re willing to offer in exchange for a specific rate. Evaluate the project’s complexity, skills, and resources needed before giving a timeline. That way, you can finish the project on time without compromising its quality.
Value-based Pricing
The size and the status of the client are criteria you may adopt to design your budgets. Ask yourself if you’re dealing with a well-established corporation or the new pub around the corner. Even though your dedication should remain the same, the concerns of those two clients will certainly be different. Money, for example, won’t be an issue for the big firm. But that’s not the only reason to charge them more.
Just think with me: a larger market means a larger audience, and more profit. Thus, the image you create to target that audience has greater value.
Hourly-based Pricing
Ideas don’t come up the moment you need them, neither your concentration is always the same. So, this method may turn out to be tricky. However, you can explore it in various ways: the client can pay you monthly in exchange for a given amount of work hours, or you can sell blocks of time (8 hours will cost $X).
By following this method, be careful about the promises you make, and be precise on what you say. Something like ‘I surely can do that in a day.’ or ‘Yeah, in 2 or 4 hours I’ll get the job done.’ may get you into trouble. The rule is: don’t commit just because!
Average Prices and Final Thoughts
Now that you know what to consider when charging for a logo, let’s get to the point. On average, a logo costs between $300 and $1300 (USA prices). In a design agency, the amount can go up to $2500 but, if you’re a freelance designer, the value should be around $300 – $2500.
It’s a huge difference, I know. But all the factors I discussed in this article should give you an idea of which should be your baseline. So, next time you’re designing a logo, follow this guide, and make your price!
