I know I’m not the only one who has deliberated over the price of their interior design services.
Do you spend far too much time calculating how many hours the design work will take, add a bit of buffer, calculate the total, and then slash it in half for fear you’ve over-priced?
Or are you just curious about what other Interior Designers charging for their services?
Without doubt, pricing is the number one question I am asked about by Interior Designers. Whether you’re just setting up, in the early stages, or long established, it’s likely something that you spend a lot of time on. And you’re definitely not alone.
When it comes to money, it seems we are highly influenced by our current circumstances – your current bank balance, how you’re feeling, how much you really want THAT job.
You know those times when you’re riding high? You’ve just finished a really successful client project, had a feature in a magazine, or received some amazing feedback. You. Are. Smashing. It. A new project comes in, and you just feel so confident about the value that you offer your clients, that pricing the new job doesn’t seem such a big problem.
But, a lot of the time, you ‘erm and ah’, maybe you wait for your partner to come home and check the numbers (do they even know how long it takes you to deliver a design)?!! You question yourself, go back and forth.
Then finally, you send your design fee to your potential client with a wing and a prayer, convinced even as you hit send, that you went in too high? And when they come back and say yes, and you’re pleased but start questioning if you charge too little?
Or if the client says no – even without asking them why – you assume it was because you are too expensive?
I’m here to tell you that you are probably under-pricing your services. Most of us do. Worst of all, you could be operating without making a profit. It’s time to get business savvy.
It’s never too late to get your pricing sorted – and it is something you should continually review. Putting your prices up each year should be the norm.
Developing a solid pricing structure for your Interior Design Business is crucial. Once in place, a pricing structure will help you ride out the days when your confidence is low.
You’ll have a simple process that you can run through for each client project – allowing you to easily pull a package price together.
- It will give you a confidence boost.
- It will save you so much time and angst.
- It will allow you to speak to clients about costs, and money, with confidence clarity.
- It will help you identify your money mindset, and how this could be holding you back.
I’ve done my research, taken my experience of trying out different pricing methods, and with over 12 years as a practising Interior Designer, I’ve developed a pricing methodology for Interior Designers.
Here’s what previous attendees of my Pricing Workshop said:
“…really informative and helped me focus on how to set out the basic price packages, and what I feel is the right price to charge for the work, and a plan to set out payments” Helen @ Lived and Loved Interiors
“I’d seen similar workshops aimed at creatives in a broad sense covering the topic of pricing however, I wanted something specific to interior designers. A workshop that could help me work through how I determine my own pricing in a structured way was an essential investment in my growth.” Hollie @ Nest in Style
“I’ve never really been able to gauge whether my prices were suitable, so was keen to get a feel for the kind of range I’m working in. I hadn’t found anyone doing this before, especially not in such a specific and focussed way. You also come across as very approachable and genuine.” Sarah @ Cohesive Living
You’ll learn:
- How to calculate what you need to earn to run a profitable business.
- The importance of pricing to make money for you AND add value for your clients.
- The pros and cons of different pricing structures used by interior designers.
- When, and how, to charge for your services
- Tips and tricks to make discussing money with clients easier.
- How to ensure you’re never left out of pocket or owed money.
Here’s my top tips for getting your pricing sorted:
- Figure out what you NEED to earn annually and use this to calculate your hourly rate.
- Decide on a pricing structure. My recommendation is package pricing linked to the value you offer – and additional out of scope work on an hourly rate.
- Price up each of your service offerings based on time and your hourly rate. You may need to do some additional work here to determine how long each offering takes you to deliver.
Do you know what you need to earn? Get my ‘3 steps to pricing your interior design services’ guide.
