What should be the budget required for designing a great Logo
Every Logo is different from the other. Each Logo is designed as per the requirement of your needs and as per your industry specification. As the designs are different, so prices are also different. The budget, which is required for designing a logo absolutely depends on the fact that what amount you can afford and in that amount what are the best creative designs are available. So before setting the budget for your Logo design, you need to know the fact that what are the methods used to fix the price for a logo.
Depending on where you want to use your Logo and for what business you want to use it is the vital fact. These are the two aspects which need to be considered carefully before fixing the price. There are basically three common types of Logo pricing used in the design industry today.
The pricing system which is followed most commonly are:-
1) Hourly Rate 2) Fixed Price 3) Packaged Rate.
Now let's go a bit deeper into the insights of the concepts to get a clear understanding of the charging procedures.
A very common method used by graphic designers to charge is by hours. Depending on location, experience, and many other factors hourly rate varies anywhere from $8.00 to $ 500 per hour. This is a huge difference, but it is a fact that it happens usually if the designer is very proficient and experienced.
Flat Fee Pricing
Another method for pricing is flat fee pricing in which the pricing structure is fixed and depending on the types of organization it varies. You can compare the price rates as per your organization or as per your needs. For different set of person & a different set of organization, it changes like
Professional Agency;- $1000-$5000 Independent firm:- $ 500- $3000 Freelancer:- $250- $ 2500 Off shore designer:- $ 100-$250 World Famous Designer:- $1,000,000
Logo Package Rates
Various Logo designing firms have preset the package rates along with various other additional services. These are done to maximize the affordability. Now you have to just compare the best quotes and go for the package which best suits your needs. These are one of the most authentic systems which is being used today. The chances of price discrimination are less in this system of pricing used by various brands.
Thus, above are the methods which are followed by the companies to charge from their clients. Now you have to decide judiciously as per your requirement that where to invest your money. Prices actually get altered as per the business needs. It may be from the end of the consumers or it may be from the end of the brands. You can make a proper research on the prices offered by different brands and can opt for the best one which will fulfill your needs. Thus price comparison is the most important part of the Logo selection from consumers end.