How to Quote a Graphic Design Project Correctly
Why do you need to learn how to quote a graphic design project, you might be thinking? Well, it’s not every day that you have a client who already knows what they want and has specific pricing for it. There are clients out there who have a specific graphic design project in mind but they would shop around—meaning they’ll ask a bunch of freelancers about their prices.
One of the troubles freelancers have is how to put a price on their products or services, especially custom ones. There really is no “standard” pricing in graphic designing, especially freelance graphic designing. However, if you learn how to quote a graphic design project correctly, you’ll find yourself with clients who want to work with you.
According to research, a graphic designer is one of the most hired freelancers by small businesses. Chances are there are also clients who have no idea how much their project is going to cost, that’s why they will ask for a quote or an estimate from you. If you are having trouble giving a quote to potential clients, don’t worry as this article will tackle the factors that will help you determine the right price.
Factors that Affect How to Quote a Graphic Design Project
The world of graphic design is broad enough as it is. There really isn’t a specific price tag for a graphic design project, the closest you can have is a gauge or an estimate. Below are some of the factors that can help you determine how to quote a graphic design project correctly:
1. Specific Project or Niche
To be a graphic designer, you need to be a jack of all trades. However, chances are your client will have a specific project in mind. That project or niche will determine the price of your quote. For example, a website design project will have a huge quote difference from an animation project. And again, it will depend on the specific project. Will the client need just one page to be optimized on their website? Do they need a brand new site or do they just need to update elements like colors and fonts?
You can give a potential client a better quote if they can give you their specific needs and requirements. If they just want a “graphic designer” but can’t really tell what you’ll be doing exactly, then it would be quite difficult to give them a proper quote.
2. Timeline/Schedule
Do you notice when you want something instantly, like for deliveries, the price is higher? The same goes for quoting graphic design projects. Always, always ask your potential client how much time will you have to accomplish a project. Because if they want it fast, then you have to increase your quote.
For example, if someone wants a company logo and they give you one day to do it, this will take up your valuable time. Whereas if the client gives you a week to come up with a company logo, you’ll have time to fit the work into your schedule. It’s best to get graphic design projects that give you enough time to work so that you don’t get burnt out easily.
3. Tools or Software
There are dozens of tools and software used by graphic designers, you have to make it clear to your client which ones they require.
However, if you aren’t so lucky, you might need to purchase or subscribe to that specific tool or software on your own. It’s best to include the additional charges in your final quote if that is the case.
4. Difficulty Level of Project
Don’t forget to consider checking the difficulty of the project when creating a quote. For example, if you are requested to do a product design, do take note of the amount of research that you will be doing. It’s not just about creating the design of a product but you also have to do a background check with your client as well as competitors.
5. Admin/Miscellaneous/Edit Fees
Don’t you just hate it when you’re buying something and then suddenly there are “hidden” fees added to the total? Well, clients don’t like that either. When you make a quote, do try to inform them of separate fees that can be included in their estimate.
For example, if your quote for a one-pager website is $200, you also have to tell them if you will have additional fees if they request edits (especially major ones) after you have submitted your deliverable.
Also when making a quote, don’t just think of the actual product or service you are offering. You’ll also need to include design briefs or admin work—Tip: Make your life easier with Kosmo (time-tracking, contracts, invoicing, and more)
6. Client
You need to consider that there are some clients who will not pay as much at first because they are just testing out the waters. However, they may offer you a retainer agreement or become a repeat customer that promises a higher payment once you have proved yourself. It’s important not to sell yourself under value. Politely inform your client that your pricing is fair.
Do take note that there are clients that may request quotes per project deliverable or hours that you spend. You have to be ready to give them a quote for either when they ask.
7. You
One of the major factors that affect how to quote a graphic design project is you, the freelancer. Of course, there is still a basis for this estimate, you can’t just price something on a whim. Here are three things to help you figure it out:
a. Expertise
Again, the world of graphic design is quite broad, so the project you are handling may or may not be your expertise. If you are an expert on branding design, then, by all means, go ahead and get your money’s worth. However, if you are just starting out in branding design, don’t estimate too high. Think that this project is not just about the money you will get but also the valuable experience for your freelancing career.
b. Income Goal
Do you have a specific goal for the week or the month when it comes to earnings? This is a relevant factor when making your quotes. You have to do the math that the time you spend on a project will be worth it, that it will keep your business afloat and not just break even.
c. Current Workload
How much do you have on your plate right now? If you are quite a busy freelancer, then you have to raise your quotes (think of it as supply and demand). However, if you find yourself without any projects, it may be a sign that you are quoting wrong. Most likely your estimates are too high and potential clients will try to look for another graphic designer with a lower rate.
Conclusion
Now that you know the factors to consider, you’ll have an easier time learning how to quote a graphic design project correctly. Freelancers need to be able to do it all, you need to learn how to sell yourself to clients, do the math so you can keep your business running, and do the actual work of a graphic designer. Make sure to add how to quote a graphic design project the right way to the list of things you can do.
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