From the course: Running a Design Business: Designer-Client Agreements
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Ways to price your work
From the course: Running a Design Business: Designer-Client Agreements
Ways to price your work
You need to learn about pricing, but that's not the focus of this course. However, let's briefly talk about it here. As I have mentioned, all estimated design projects must include the following categories of money. Fees, which is a designer's compensation for their labor, expertise, and value and Expenses, which are all the reimbursable out-of-pocket costs for items purchased specifically for the project. You'll need to come up with a dollar figure for both categories. One way to think about setting your design fee is to base it on your hourly rate; you break down the project into phases and try to assess how many hours you think you, and/or your team members will work on each phase. Multiply the Estimated hours by your hourly rate and you'll have a fee calculated. It's interesting to note that two design firms can have the same rate and calculate the same project completely differently. Or two firms can have vastly different hourly rates and come up with the same fee. A trusted…
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Contents
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Talking money: General tips2m 31s
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Talking money: Revisions2m 27s
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Talking money: Other issues2m 8s
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Outlining your design fees2m 47s
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Estimate worksheet1m 19s
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Ways to price your work2m 47s
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Estimated expenses2m 59s
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Incorporating estimates from suppliers and subcontractors1m 59s
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Amending contracts with change orders2m 30s
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