Pricing is the bane of the interior design industry. Take a look at any number of design websites and blogs, whether for consumers or professionals, and you’ll see what I mean. Everyone is looking for or handing out advice about pricing. Clients worry about how much they should pay or will be charged for interior design services, and designers fret over how much they should charge or how much clients are willing to pay. It’s a stumbling block that seems hard to avoid.
As the professional in the conversation, you have to take the lead. Decide what your fees will be and present them in a clear, businesslike manner. To do so, you need to take some time to reflect on some fundamental questions about your business. What type of clients are you seeking? In their eyes, what is the cost/benefit of your services, and what is their ability to pay? What types of projects are you interested in or are willing to accept? How much do you need to earn to make a project worthwhile and profitable?
Having the answers to these questions will give you the confidence to charge what the project requires and what your time, talent and expertise are worth. Some negotiating may be inevitable, but you don’t want to put yourself in the position of bargaining with the client. If the client does not value you as a professional, they are not a good client for you.
If you are not sure how to answer these fundamental questions, I invite you to join me for my upcoming presentation, “Deciding What You Are Worth and Charging for It,” on April 16 at the Interior Design Society in New York City. Or contact me, and let’s talk about how to set the right pricing for your interior design business.