Pricing your freelance design work is crucial, but many people have no idea how to do it. If you’re trying to get freelance design work, you know that price is one of the top barriers to entry for potential clients. How do you calculate your break-even point? How do you price your freelance work so that you make a profit? Here are some practical advice and tips that will help you evaluate your pricing methods and come up with a profitable fee structure.
Calculate your break-even point first
How much money do you realistically earn on a weekly basis from selling your completed projects? Do you plan on spending most of that money at your other business activities or just the money you’re earning now? Looking at the prices charged by various clients for similar work can help you evaluate your own ability to charge the price you want to.
Consider adding an estimate on your design work for the initial quote that you get. When you negotiate a price with a new client, you’ll want to come up with an accurate price before you talk to them. Then when you talk to the buyer, you’ll be able to accurately calculate how much they’ll pay for your project.
Decide how much time you need to complete your work in a day
You may need to split your time between multiple clients. The more time you have to do work, the more you’ll charge for your time. Some designers have multiple clients, and they each have their own pricing system and process. Work your time into your schedule to complete your work as efficiently as possible.
Set your fee according to your completed work’s quality
If you work quickly and finish your work within a specific time frame, you will be able to price your freelance design work accurately. If your rates are too high, you will be losing business. On the other hand, if your rates are too low, you will not be able to get the type of work you need. Find out what your current market price is so you know what to price your work accordingly.
Find out what your client wants in a price quote
If you are working on a commission basis, your clients may request certain prices are quoted. However, some clients might offer their own price list, which you should consider using. This price quote could help you price your work faster and get you the best rate possible.
Always look at your client’s portfolio before offering any price
A client who is looking for a quick design job may not be willing to take the time to look at your portfolio. Pricing your freelance design work based on the client’s portfolio saves you time and effort. When you price your work’s worth, you will be able to find projects that interest your potential clients, and you will have plenty of projects to choose from.
Be sure to price your work worth correctly
Many designers work off of estimates from previous jobs. Although these estimates are often helpful, they often do not factor in the scope of your work. Your clients will appreciate your willingness to price your work worth accurately. Pricing your work’s worth accurately will make it easier for you to get future work and increase your client base.
Always communicate with your client when changes are made to your design
Some clients may request changes after the fact. You should always let your client know if you have made any updates to your design or work. Communication can ensure that you stay within the client’s budget and provide quality work. If you fail to communicate with your client, he or she may end up canceling your project, which is a waste of time for both of you.
Keep track of your client’s updates and changes to your design
If you are changing the scope of your work, keep notes on your work so that you can accurately determine your client’s current idea of your work’s worth. This will allow you to price your work accurately and make changes to your work whenever necessary.
Make sure to price your freelance design work accurately
Pricing your freelance design work will ensure that you get the most out of your marketing dollars. Pricing your work incorrectly will make it difficult to generate any revenue. Your clients want you to help them find their creative voice, but they won’t pay you until you truly make a difference in their work. Keeping track of your client’s changes and updates will give you a clear picture of their needs and help you price your freelance design work accurately.
Web and Graphic Designer and also a tech enthusiast.
I love to design web sites, logos, brochures, banners and anything that sends a message to an audience. I do it for both the private and the commercial sector.