- October 1, 2015
- Posted by: wcolvard
- Category: Advertising, Branding, Business
I recently had lunch with an old friend. During the conversation he begin to talk about a new business he was starting. He was excited about the process of establishing his business and the process he and his team had to undertake to get started.
The conversation soon turned to the cost associated with starting a new business– business license, certifications, office space and more. All total he had, very willing invested over $20,000.
After hearing all he had done I asked, “Do you have a budget for marketing or a logo design?” Of course, like most business owners he had not and wanted to know how much a logo design would cost?
It’s subjective… like how much does it cost to build a new house? Or how long is the string? Where are you in your business and brand journey? Are you just starting out, making decisions, changes, and revisions? Or are you solidly established and in need of a complete logo redesign or brand update? The answers to these questions will help you decide on a budget, and select from the logo design options below.
You could run a contest, ask a friend or relative, or contact a local school with a design department and propose a class project. I don’t recommend any of these, but I know it happens, and sometimes people get decent results. But more often than not, the quality of the results is reflected by the price. This type of request is often called spec work, where logo design submissions are requested with no guarantee of compensation. Most professional graphic designers refuse to do spec work. Can you blame them?
How Much Should I Spend on a Logo Design?
So what’s the answer to “How Much To Spend On A Logo Design?” The budget should be in line with the industry you are in or entering and the image you want for your company and only you can determine that.
My advice, seek help from a graphic design professional. One with a proven track record and work with them to create the desired image for your company. Set a budget, a reasonable budget, for your industry and expectations. You may even want to look for any logo design you like and reach out to them to see if you can determine what their budget was.
The bottom-line, set a budget that you can be comfortable with, work with the best possible resource for that budget and be comfortable with that. And keep in mind, as your business grows or the industry changes you can always have it redesigned.