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After passion, the second biggest reason for someone to join any profession is to make a living. For me, being a logo designer is like living a dream but one has to make ends meet too. One of the trickiest parts of any business is to set the price of the product or service they offer. Costing for a tangible product is relatively easier than ascertaining the price of a service. Services like getting a logo design for a business is extremely difficult to price.

Now the problem with logo design is that there is no definite rule of thumb for pricing. But certain guidelines can help a logo designer in determining the true worth of his creativity and service. Therefore, it is essential to know how to set the pricing of your logo design services.

Following are five of the major factors that will immensely help you decide the price of a logo design.

1. Magnitude of Project:

Some projects are such that they require only a few days to complete. For instance, a small local business that needs a logo design doesn’t require much time since there requirements are of small proportions. Logo designers must set their prices according to the scale of the logo design project that they work on.

2. Professional Experience:

Why do famous design agencies and logo designers charge a hefty price for a logo design? It’s because they have earned the privilege to do so. When a person gains experience and a strong grip on a particular art, they can charge a premium price for their creative and seasoned services. Have a look at the cost of famous logos to ascertain how experience helps in pricing a logo design. A fresh logo designer would not be able to price their work as high as a seasoned campaigner.

3. Client’s Financial Muscle

Sometimes the pricing of the logo design is really on the client’s dispossession. If your client’s financial muscle is strong then they might pay you any amount you desire. For instance, if you get a chance to work with famous brands, you can easily ask for a hefty price. This is because for some multi-national corporations, it is considered a status symbol to spend a sizable amount on their corporate image in order to boast in the press.

4. Competitive Pricing:

In some areas of the world, there is so much competition that one must lower their prices in order to stay alive. Now I’m not saying that logo designers should start a price war amongst themselves. But when there is cut-throat competition, the least you can do to survive is set your prices in harmony with your competitors.

5. Special Causes:

In every professional’s career, comes a time to serve the community. Being logo designers, you will also come across a few cases where the logo design is required for a special cause like a charity hospital or welfare centre. Now some designers do work pro-bono for these causes without a cent. But we can also offer special discounts for these types of clients in order to show our concern towards their noble cause.

Your Thoughts:

Which of the above-mentioned factors you think highly influences the price of a logo design??