The most asked about question is pricing your work. What do you charge per pattern? Per collection? How about freelance work? What do you charge for licensing your artwork? Or selling the design outright? Putting a price on your artwork can be intimidating. Don't be. You're seriously awesome.
What Are You Worth?
You and I both know that your designs are priceless. You put time and effort into creating a surface pattern masterpiece. Creating the art was easy for you. Setting the price makes you nauseous. Are you thinking if you set the price too high, no one will buy it? If you set the price too low you may not cover your expenses. Here is a simple formula to start with.
Price = Materials + Fees + (Freelance Rate x hours).
This is the absolute minimum you should be charging.
Setting Your Freelance Rate
There are a lot of online tools, such as Motiv , that can help determine your monthly expenses. Nail down the minimum amount of money that you need to make to live. Pay the rent. Eat. After you determine the minimum amount of money that you need to bring in, set your profit margin. Is it a few thousand dollars a month? A Year?
You want to be competitive with your pricing. You can search for other designers, similar to your products, and compare prices. Are you significantly higher or lower? You can adjust your rate depending upon what your market research reveals.
I find it easiest to set up a spreadsheet for my material. Then I don’t have to do the math. Score! It doesn’t have to be something elaborate or fancy, unless you want it to be. I list all the materials I will need for a project, add a small percentage to account for price increases, and add it up. This will include any product packaging you use. In this section I also add in any fees that I may incur. If you list your art with a site like Etsy, or you take credit cards, you have fees that you will need to pay for listing your item, selling your item, and for accepting payment. You may have shipping fees. Do you have to pay any taxes on the items you sell? Possibly sales tax? Add that in here.
Putting It All Together
On the same spreadsheet, you can set your prices for your designs. Determine how long each project will take, or determine an average. Add the freelance rate by the amount of hours it takes, ad add the material. Now, you have your pricing!
Here is a sample spreadsheet: