Blunders to Steer Clear of when Estimating Your Charges for Services
Turning Over a New Leaf: Pricing Your Hand Lettering and Calligraphy Work Like a Pro
Written by Joanne Lauzon of @indetailcreative
Plunging into the world of hand lettering and calligraphy can be nerve-wracking, and calculating your rates could give you a panic attack – especially when you're new to the game, lacking that much-needed confidence. But don't worry; with a bit of nurturing, you'll be quoting your rates, snagging those jobs, and making money like a seasoned pro in no time!
Here's a rundown of seven common pitfalls to avoid when calculating your prices:
1. The Disaster of Disorganization
When working with any client, it's essential to keep all communication official and well-documented. Stick to pens-and-paper trails quite literally, and heal-toe it into email conversations as often as possible. Ensure the client signs off on your written quote detailing the project's scope, costs, and inclusions. In the rare instance of a dispute, this paperwork will be your knight in shining armor.
2. Assuming You Keep the Entire Pot of Gold
Ouch! Au contraire mon chérie; there's more to life than pure profits. Remember to account for taxes and business expenses, such as materials, when setting your rates. A good starting point is dividing your sales revenue into three pots: one for taxes, one for your business account, and one for your personal kitty. This ratio will help you set your prices and maintain that much-desired balance – in your pockets.
3. Sticking to the Script of Hourly Rates
Your hourly rate gives you goosebumps of pride, and rightly so! (Hell, you earn every cent.) However, not all jobs call for hourly billing; otherwise, you'd lose cash if the project zooms by, and your work might not be valued at its true worth.
For example, writing the fine print on a birth certificate usually takes under 30 minutes, but the sentimental value deserves a much higher asking price. Look at the value of the finished product and price it accordingly, taking into account your skill level, the project's complexity, and the caliber of your work.
4. Kicking Off a Project Before Agreeing on a Price
E sweaty Jesus! If I could reach through this screen and drag you by the ears, I would! Never start a project without a signed, client-approved estimate, complete with project scope, prices, and terms. Avoid putting yourself in a position where the client tries to haggle you down on payment. Trust me, it happens. Don't rely on goodwill – run a business. Don't forget to ask for a deposit upfront, either!
5. Undercutting Your Competition
The concept of competition is so 20th century! Instead, join forces with your contemporaries, create a community, and support one another as a tribe. Undercutting each other only leads to a race to the bottom and zero profits for all.
Networking with and assisting each other enables collaboration on projects, exchanging knowledge, and even discussing pricing – benefiting both you and your clients.
6. Treating Personal Work and Commercial Work Equally
Do you genuinely believe that a "Welcome to Home" sign should earn the same as a "Welcome to [insert establishment name here]" sign? A slight difference in character count and time spent might be present, but the former acts as a keepsake, whereas the latter drives clientele, boosting your income – making the commercial artwork pricier.
Anytime your client is reselling your artwork or incorporating it into their brand, the value of your time, talent, and energy skyrockets.
7. Giving Your Work Away for Free
While gifting your artwork to someone might seem like the classy thing to do, other individuals may take advantage of this generosity. Be clear about the circumstances in which you're willing to work for free and the value you place on your time and skill. Understand the importance of fair exchanges, including financial compensation, in terms of commissioned work.
By being aware of these common issues and adjusting your pricing strategy accordingly, you'll maintain a profitable, sustainable business in the world of hand lettering and calligraphy.
For additional guidance on pricing your work, check out the "Panic-Free Pricing Course," a beginner's guide for pricing every hand lettering and calligraphy project on the market – including weddings, murals, fonts, and more!
Need More Answers?
Dive into the 10 Most Common Pricing Questions Guide available on my Patreon! As a member, you'll gain access to this guide – along with the rest of my resource library, packed with worksheets, traceables, templates, and more!
Now go out there and make that money, folks! Your passion for calligraphy and lettering deserves financial rewards!
Joanne Lauzon of @indetailcreative encourages beginners to price their calligraphy and hand-lettering work professionally.
- Maintaining disorganization can lead to communication disputes; keep written records of all client interactions.
- Remember that taxes and business expenses should be accounted for when setting prices.
- Adapt your pricing based on the value of the project, not just hourly rates.
- Agree on a price before starting any project and secure a deposit upfront.
- Collaborate with contemporaries in the hand-lettering and calligraphy community to strengthen your business.
- Recognize the difference in value between personal and commercial work.
- Be cautious with free work, set clear conditions for when you are willing to work without financial compensation.
- Devote time to educational resources, like the "Panic-Free Pricing Course," for guidance in pricing projects.
- Utilize the "10 Most Common Pricing Questions Guide" available on Patreon for additional advice.
- Stay persistent and confident in your pricing, understanding that your work deserves fair financial rewards.
