If you're planning to start a business, you're probably stressing on how much would the design fees cost. Typically, logo & branding design might cost somewhere between $500 - $3,000 or even more depending on the agency you plan to hire and how much you're willing to invest to your business.
In this article, I will breakdown the different types of design fees that you can expect when hiring design agencies to work on your logo & branding design.
Design agency fees vary based on their size, results and expertise.
If you're planning on hiring bigger agencies, get ready to invest more in getting your designs done. Most established agencies charges higher fees mainly because they have huge staffs and big overheads. You definitely might benefit from their experience and expertise, but if you're a smaller player on their rooster, your business might not get the attention it needs from them.
Golden rule of thumb: work with an agency smaller or the same size as your business.
Getting Charged Hourly or Per Project.
It's also common for design agencies to charge based by billable hours or based on a full project. But what's the difference?
1. Hourly Billing
Usually, your designer will provide you an estimated quote for the project. Say, 45 hours for the whole project at $55 per hour. That totals out to roughly ~$2,475. But keep in mind that's just an estimate, you might be billed less or more depending on the requirements and goals of your business.
Charging by the hour might also get complicated when working with less experienced designers that go back and forth in the design project with no clear end-goals.
2. Per Project
Project based design fees are agreed upon signing the contract. That means, you won't get any nasty surprises by the end of the project. You and your designer would also agree on the scope of the design, the deliverables and also the amount of changes allowed.
This is more favorable among business owners as they are able to plan their budget around the design fees before signing the contract.
Some design agencies also offers a hybrid charging fees with a combination of project-based and hourly billing. This is because some design agencies offers a fixed price and deliverables for some of their projects then charge hourly for any additional requirements that your business might have.
The Real Cost Of Logo & Branding Design
It might also be tempting to hire designers for an even cheaper price tag. However, keep in mind that this is your business we're talking about. Are you really sure that $50 logo will help you achieve your business goals?
Most business owners don't consider the negative outcomes of having a poorly designed brand. Your poor branding might destroy your trust with customers and hurt your business reputation in the long-term. That's why it's important to hire professionals that actually knows what they're doing.
“Your brand is the single most important investment you can make in your business.” — Steve Forbes.
Let Me Help You Build Your Brand
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About The Author
Arron Goh is a brand designer & digital marketer at Undoubt Studio. He has helped businesses all over the world create meaningful branding and reach a wider audience through digital marketing.