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Artists Tips#1 : How much do I charge?
Wow, if I had a nickel for everytime I've heard (or seen) that questions asked, I wouldn't be writing here, I'd be on the beach without a care in the world. But seriously, its one of the most daunting questions when starting off on your own. So what's the magic number? Well, hate to say it but it's not as easy as all that. But it's not that hard either. One thing to consider when pricing yourself is who is your target client? Are you trying to go after the big contracts or are you looking to help out the local restaurant with some menu design? And sure, we all want as much money as we can get, but be reasonable. If you are new to the industry, don't set yourself so high that your target client can't afford you. You can always raise your rates once you have a great portfolio to back you up. And starting with Joe's Pizza up the street is a good way to earn steady business and a good portfolio. We don't all start out making the big bucks, but earning a good reputation will help guide you toward that goal. Another question regarding price I've seen quite a bit of is should I do work for free? In my opinion, there's plenty of decent paying jobs out there that will be glad to give you business to help build your portfolio. Even students shouldn't have to work for free. Some artists get caught up in trying to win that contest or get suckered into working for free to earn more business later. Honestly, those who expect you to do some free work often won't be paying for your services later. Once you start charging they'll just find the next sucker to come along. You want to give out free work? Do it for customers you have already established a relationship with. They love it when you've worked hard for them and now want to offer up a small freebie for keeping their business. 9 times out of 10, they'll want to pay you anyway but appreciate the offer. So, no free work okay, but how much do I charge? It can be tricky striking a balance between your needs and the needs of your clients, but that is what has to be done. I take into consideration a few things. 1. How much do I need to make in a month to pay my bills and be content?
2. For each project I take on, I consider what is it worth to the client?
3. What quality of work do I have to offer to the project? When I started out, I chose an hourly rate. Sometimes I'd get people scoff at my rate and sometimes people would consider it a bargain! The point is, charge what you feel is fair. If you feel your work is professional enough to charge $85/hr, go right ahead, and keep in mind that people will expect more for the more they pay you. If you are a student just starting out and you want to charge $15/hr, that's okay too. If you stay in the business a bit you'll be able to gauge whether you are charging too little or too much for your work by the reaction of your target client. A few quick tips when deciding your pricing policy: A. Don't post your pricing. Quotes are the way to go. Why? Because every project, every client is different. Some people feel more comfortable paying hourly and some prefer a fixed price. Some will even come to you with an offer that is more than you normally charge! If they see your website and find you charge much less then you probably won't get paid as much. B. If you choose fixed pricing, be sure to add a little padding in. I often tell my customers a fixed price above what I feel the project may actually cost, I can always cut a discount at the end, but it's much harder to add onto the pricing if you underquote. C. Take deposits for projects that take more than a couple of hours. It's a sad reality that even clients who might seem like friends may fail to pay or take a long time in doing so if you let them. Stay firm on your policies and you'll get stiffed a lot less. |
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