As a Business Owner: How much shall I pay for a logo?



One of the major concerns that strike a business owner whenever he/she wants to to hire a designer is how much it is going to cost them. This can be a real challenge for both parties, especially that it’s hard to price an idea – something that is virtual and abstract. Moreover, in this industry, it is well-known that the price of a logo can range from hundreds of bucks to millions of bucks – a very wide and confusing range. This puts the project owner in a dilemma of whether it’s worth the price or not.

It all comes down to the amount of responsibility the designer is taking on. Below are three main factors to take into consideration that will help you decide.


The Scale of the Brand

THE BIGGER THE SCALE, THE BIGGER THE RESPONSIBILITY.

It is common sense that a local brand lays less responsibility on the designer than an international brand. The reason is simply because international markets are way more diverse than local ones, and hence, the brand must reach and address all communities despite the differences of their cultures, languages, ideologies and so on and so forth. Therefore, the area you’re targeting has a lot to do with the responsibility you’re laying on your designer.


The Amount of Printable Material

THE MORE YOU HAVE MATERIALS TO PRINT, THE LESS ROOM YOU HAVE FOR ERRORS.

If we take Pepsi for instance, it is obviously clear that the amount of printed material used for their packaging is beyond imagination. They cannot afford the risk of errors. They cannot afford the risk of bad branding.

Few years ago, they introduced a new logo. What if it wasn’t successful? After having printed their cans, bottles, and advertising material, how would they make amends? It would be a disaster. For that matter, they paid one million dollars for their new logo. Why? Because it is the price of the risk they’re not willing to take.

The Designer

Portfolio and reputation are the two major factors that allow you to judge the competence of your designer. This allows you to take a glimpse at what you shall expect at the end. It is true that fresh designers can be as creative as experienced ones, but that’s a matter of personal preference on the project owner’s side.

The bottom line is: you meet with your designer, you discuss all aspects of the project, you calculate the amount of risk you’re willing to take and then you make your decision.



Author: Lama Lawand