Updated: Jan 16
There is a lot of information on the internet about this topic. I have found several blogs stating that a logo should start at $200. To be honest there isn’t a set price for a logo. Every designer has a different skill level and price scale. If you are looking for a cheap logo beware of the quality and how a designer builds your logo. They could be using stock graphics that will not allow you to trademark your logo. I touched on this in a previous blog posting. It is important and I will probably come back to that subject in the future. Let’s get back on track before I take this post in another direction.
So how much should you spend on a logo design? You would be astounded by the amount of money that some corporations have spent on logos. You can research how much companies paid for their logos by a simple Google search. I have done a little of that research for you here though. Don't be afraid of the numbers you didn't pay for these logos. Do you remember the London Olympic Games? The price for one of the ugliest logos in history was $625,000. The simple updating of Pepsi’s logo was $1,000,000. Here is my last expensive example of the cost of a logo. BP spent $211,000,000 for their “earth friendly” logo. The irony of this logo was not lost on the oil spill they created in the Gulf of Mexico. There is a step that each of the companies did before they shopped for the right logo designer.
It is important no let me change that it is crucial that you develop a budget of how much you are willing to spend on a logo. When developing your logo budget ask yourself what message does your logo need to convey? What type of customers are your trying to attract to your business? These questions will help you when you sit down with a designer or agency and discuss your potential logo project. Don't forget to develop your budget before starting your search. Also remember just because you developed a large budget doesn’t mean you need to spend the entire budget on that perfect logo. There are situations that will allow you to receive a well-designed logo for cheap. Nike is the perfect example of getting a great logo for the low price of $35. Granted, they had a design student Carolyn Davidson develop their logo and eventually she received a large payment for her work.
As I illustrated there isn’t a real price structure for logo design. It is not as simple as going to a restaurant and ordering an item off of a menu. Your company might need a logo developed to get started. It will be used on your website, business cards, signage and other immediate marketing needs. In this case you might place the value of the project low and have a budget of a few hundred dollars. Now if you are looking for a logo design to make your business look professional and attract new customers and bringing new income in the excess of $10,000 a year then you should allow for a larger budget. The return on your investment will be well worth the expense of the project. Logos add value to your business and should be looked at as an investment not an expense.
Pricing your budget for a logo project can be compared to purchasing a diamond engagement ring. How much does your fiancé mean to you? Can you truly afford that $20,000 diamond ring she wants or is it more realistic to purchase a ring between $1,000 - $3,000 range because that is what your budget will allow. Remember there are a lot of freelance designers and agencies to work with. With a little research and some consultations, you will find the right fit for your budget. However, you need to develop a budget before you start looking for the right fit, but don’t forget that a professionally designed logo will add value to your business. You shouldn’t go into the search looking for the cheapest solution out there for you. Ultimately, it will have negative effects for your business.