A customized logo is an essential part of any company and its branding.
Since there is always a need for this type of work, there are quite a lot of opportunities for a freelance graphic designer.
On the other hand, that could also mean a lot of competition as well, so you would have to find a way to stand out and that could include your prices.
Working as a graphic designer could be a lucrative business, but you are not always sure where to start with pricing your work, especially if you are fairly new to it.
With all the uncertainty that comes with freelance jobs, this doesn’t have to be one of them.
So, in order to make the process a bit easier for you, here are some guidelines on how to establish a price range for your work.
How Much Should You Charge For a Logo?
Your job as a designer is to create a custom logo that correlates with the brand’s visual identity.
Something that would be recognizable, legible, and esthetically pleasing.
So, the main problem occurs with the fact that the creative design process is such an abstract notion and it is difficult to translate it into actual currency.
The price range of a professional logo can vary depending on the different stages of the design process.
According to the latest data, professional logo designers make from $10,000 to $280,000 a year. The majority of logo designers are around $42,000 a year.
Research and Proper Brainstorming
It is essential to do the research, knowing everything about your clients, their brand, history, etc. Getting to know all about your client will help you create the right image they are trying to portray.
The bottom line, the more research you do, the better end result you will get.
Once you gathered the much-needed information you will have to think about it even further, brainstorming the way that you could take that information and translate it into a proper visual identity.
If you’re looking forward to finding a way that can help you design your desired logo without going through any hassle or paying any charges, then you should opt for using the logo maker tool.
This online utility comes with a copious amount of stunning logo templates that you can select and alter as per your preference.
The logo designing task can be accomplished with this facility in a matter of a few minutes.
Even if you don’t have a grip over designing software, you can still design a logo with this logo maker tool.
Initial Concept
After you have a general idea of what you are trying to accomplish, it is time to create an initial concept.
That means, transforming your idea into its visual form and designing a logo that is still susceptible to change and adjustments if necessary.
So, it is more of a rough draft than a final product.
Presentation and Revision
At this stage of the design process, you are showing your client the concept you came up with, making it easier for them to visualize the final product.
Be prepared to adapt any feedback and criticism from your client in order to make changes to your design.
It is important to find a balance between their wishes and what you think would work.
Sometimes the client has ideas that are just not possible to implement into the design of the logo.
Final Production
After the revision and potential correction are done, you can work on polishing the final result.
It is not as easy as it sounds, and there is still some work to be done at this stage of the design process.
All of these steps have one crucial thing in common – the time you spent working on your design.
So, the thing that could without a doubt help you with determining logo design cost is the time you invested. That well-known saying ’Time is money’ is definitely applicable in this situation.
If you are completely new to graphic design, at this point you might wonder how much time does a custom logo requires. Here is a rough estimate:
- research 3-4 hours
- brainstorm around 2 hours
- concept 4-6 hours
- presentation an hour or 2
- revision 2-3 hours
- production?
At the end of the day, the time you spend on a project is individual.
The more you work, the easier it would be for you to estimate the necessary time, and you would immediately be able to give your client the estimate on price.
Remember: All of this is just a suggestion and a rough estimate, there is no set number. The final decision needs to be yours. Defining the right price for a logo design can be a difference between earning $35 an hour and $350 an hour.
Is There Really a Difference?
If you are already a designer, you would know how to recognize the difference between the cheaper and the more expensive logos.
You would also know the reason why that is.
In case you don’t, here are some additional factors that could make quite a difference when establishing the price of the custom logo:
- your own expertise – the more experience you have, the more you will be able to charge for the professional logo. In the beginning, you should keep your prices lower, and then gradually raise the cost over time.
- the client itself – the caliber of the client is also paramount. You can raise your prices when working on an extensive project for a large company.
- project specifications – different stages of the design process require different prices. For example, if the client is asking for more than one option to choose from, you can charge extra, since it implies more work.
- value vs demand – calculate the value of your work and how much time you spend on it. The more you are in demand, the less time you have for a specific project, but that could also mean that you can charge a bit more.
Here are also the approximate price range for a professional logo:
- Low cost – under $300
- Mid-range – $300-$2500
- High end – over $2500
As you can see, the difference in prices can be quite noticeable, to say the least.
Should You Negotiate?
When it comes to logo pricing you can leave some (but only some) room for negotiations.
It is important to know when to draw the line, finding the balance between being able to possibly adjust the price and knowing the true value of your work.
That means, do not take anything less than what your work is worth, calculating the time and the effort you invested.
Additional advice: Be open to design negotiations and adjustments, and of course always be prepared to hear and then implement the client’s feedback. Don’t forget a satisfied customer can bring in additional work.
In today’s world of technology, a good review of your work can spread faster than ever before (and a bad one can spread even faster).
Bottom Line
If you see yourself as a creative person, you like working in the comfort of your own home, while managing your own working hours, then a job as a freelance graphic designer could be a perfect career opportunity for you.
But don’t take it too lightly, it is a serious business with a lot of different aspects. If it look like a too big of a bite, you could always focus on making money from platforms like Mturk.
When it comes to the issue of proper pricing, as you might have noticed there are various ways to decide on the logo design cost.
It is up to you to figure out what works for you and your clients the best. Just be confident in the value of your work and your expertise.