Over the years, many designers have had to come forward and ask how to price graphic design work. Well, being able to determine your fees may sometimes be tricky. There is always a fine line between what is too much and what is too little. The truth is that you want your graphic design work to be competitively priced while at the same time ensuring the profitability of your business. After all, we embark on creating a business to make money, right?
Unlike many other businesses that have some fixed costs associated with certain items, graphic design work is more or less the same like an intangible. There is your time, which is the most crucial aspect, plus the total overheads that may include the cost of your office. That is probably your side of the whole equation. On the other side is what the market is able to bear and this may vary greatly depending on the country. This will also depend on how much the client value design, and how much they are willing to part with.
When making a decision, the first factor may seem a little bit simple, but in real sense, it is complex. You need to ask yourself, how much is this job worth for me? If you feel that, it is an interesting challenge, or some non-profit organization that you think is worthwhile, and has some intrinsic value that makes it more appealing to you, then you should charge less. The truth is that, what you cannot make in terms of money, you would make in experience. All the same, money is a part of it and so you ought to figure out how much money you need to get by, and how much your time is worth.
Remember that in addition to paying for your time, people pay for your expertise and experience as well. You have probably spent many years learning and working for you to get to where you are today. Your artistic talents and skills are what make your result and time more valuable.
The next thing is to figure how long it will take you to complete the job. Although this may be just an approximation, you may want to accurate as you possibly can. This requires asking the client some questions to grasp the idea about the scope of the whole project. This will also include the things that you are willing to provide in the whole process.
Try to find out about the total hours that you will take. The rule of thumb is that, everything takes twice as long and costs double the price of the original estimate. That does not imply that you have to quote twice as much as you think, it only means that you have to add some few hours to cover the overall hassle factor, the headaches, and the glitches.
That said, take a keen look at the potential client and determine how much they are willing to pay. Do not try to gauge them, but instead ask them to pay what they think the design is worth. If you do your job in the right way, it will be a valuable addition to the client’s company and they will always live to remember.