Start-up | |
Requirements | |
Start-up Expenses | |
Legal | $500 |
Stationery etc. | $250 |
Brochures | $250 |
Other | $0 |
Total Start-up Expenses | $1,000 |
Start-up Assets | |
Cash Required | $22,200 |
Other Current Assets | $0 |
Long-term Assets | $19,800 |
Total Assets | $42,000 |
Total Requirements | $43,000 |
The Metolius Agency provides graphic design and visual communication services to established, primarily Eugene-based, companies. Some of the services offered are corporate identity, marquees, logos, branding, and packaging.
The pricing of the projects are typically estimated as a project-based cost. The project cost will be estimated by the approximate number of hours needed to complete the project. Generally, Kiev will be charging $75 an hour for his services.
The majority of services will be provided at The Metolius Agency’s office space. This office will be modern, practical, and sleek. This is very important because the office of a graphic designer is to a large degree a piece of their portfolio and reflects their work product. Therefore, a decent amount of money will be used to develop a proper appearing business office.
The Metolius Agency will be targeting small- to medium-sized companies. What these companies have in common is they have started as a small company with a good idea and have grown into a larger, more mature company that must now decide if they are going to maintain the current business strategy, or reinvigorate the company, employ professional service providers, and move to the next level.
The Metolius Agency has two distinct customer groups which they will concentrate on:
These companies started with a valuable concept and leveraged their original grassroots visual communication elements. Now that they have matured into a larger company, they can no longer rely on the original grassroots corporate identity. These companies are in need of a professional firm like The Metolius Agency to expand their identify and take them to that same level as their competitors and be able to compete.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Small companies | 8% | 234 | 253 | 273 | 295 | 319 | 8.05% |
Medium companies | 7% | 145 | 155 | 166 | 178 | 190 | 6.99% |
Total | 7.65% | 379 | 408 | 439 | 473 | 509 | 7.65% |
The market segments will be targeted in a number of different ways. It must be noted that graphics firms generate visibility and sales not through advertising, but through networking and client referrals. The methods used for the target market segment strategy will be:
Within the last seven to 10 years, there has been a trend in the industry for the general advertising agencies, that previously only worked with advertising, to act as a full-service agency that not only prepares advertisements, but also does a lot of the creative work in-house instead of outsourcing it. This trend toward full-service agencies has continued. To a large degree it is occurring due to higher profit margins for the service providers. The Metolius Agency will be bucking this trend and concentrating on their specific skill set.
The following are examples of the different types of competitors:
The Metolius Agency’s marketing and sales strategy will utilize networking and referrals to develop visibility for the company. Prospective customers will be turned into qualified sales through a professional showing that displays Kiev’s portfolio of past work. The portfolio is key for making a positive impression regarding Kiev which illustrates his skill set and capacity as a creative designer.
As noted previously in the target market segment strategy, The Metolius Agency will rely on three activities in their marketing efforts. These include:
The sales strategy will be to utilize Kiev’s portfolio of past work to qualify a sales lead. Using a portfolio is very common within the industry to show past examples of work. Kiev’s strategy will be the development of several different portfolios, each one customized to a specific type of work. By having different portfolios, Kiev is able to better illustrate his proficiency with that specific skill set. In addition to the use of the portfolio, Kiev will do research on the prospective company and their industry so that he has specific knowledge of the needs the company may have and solutions that he can offer.
The first month of operation will be used to get the office set up and ready for business. Some of the time will be working with the interior designers to create a modern looking office space.
Months two through four will be somewhat slow as Kiev is developing clients. He is forecasted to take on some smaller projects. By month five Metolius will have developed larger projects and will continue to grow steadily.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Small companies | $29,339 | $50,697 | $58,849 |
Medium companies | $40,058 | $74,554 | $86,543 |
Total Sales | $69,397 | $125,251 | $145,392 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Small companies | $880 | $1,521 | $1,765 |
Medium companies | $1,202 | $2,237 | $2,596 |
Subtotal Direct Cost of Sales | $2,082 | $3,758 | $4,362 |
The Metolius Agency will have several milestones early on:
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Business plan completion | 1/1/2001 | 2/1/2001 | $0 | ABC | Marketing |
Office set up | 1/1/2001 | 2/1/2001 | $0 | ABC | Department |
Establishment of the first major account | 1/1/2001 | 5/15/2001 | $0 | ABC | Department |
Profitability | 1/1/2001 | 9/31/01 | $0 | ABC | Department |
Totals | $0 |
The Metolius Agency’s competitive edge is based on Kiev’s diverse background of business and creativity. Typically, most creative agencies are staffed by right-brain creative types. These people are extremely aesthetically oriented. While this is certainly an asset in the field of graphic design, it can be limiting because while their work might be extremely creative, it might not “hit home” with non-creative types which make up a large portion in the business world.
Kiev’s background is based both in aesthetics and business. While Kiev always had a creative streak that he would use, his education was business oriented. This competitive edge allows The Metolius Agency to offer similar creative services other firms can offer, but also provide a unique business perspective.
The website will be used as a way to disseminate information regarding the firm, show past examples of work, provide the interested party will several ways of contacting The Metolius Agency. In today’s day and age, a website is almost a given, a standard source of information regarding the company.
The marketing strategy for the website will be based on inclusion of the Internet address in all materials that The Metolius Agency releases, as well as submission to popular websites. Submission to search engines is an art in itself as different search engines work in different ways so a customized submission is most effective.
A graduate student from the University of Oregon’s computer science department will be used for the development (writing the code, Kiev will be responsible for the creative work) of the website as well as the periodic maintenance of the site. A graduate student will be used because of their expertise and typical below market rate.
Upon graduation, Kiev went to work for Wieden & Kennedy in Portland. This was a wonderful experience as Kiev was surrounded by very bright, creative people. Kiev was given small projects, usually components of larger projects. While this was a good experience, he was unable to leverage his business skills under these circumstances.
After three years Kiev moved to Eugene and took a position with (name omitted), a large full-service advertising agency. The firm gave Kiev more management responsibility for his projects. After the third year, Kiev felt confident enough to entertain the idea of going out on his own and opening his own firm. After market research and writing a business plan, Kiev gave notice and opened up The Metolius Agency.
Kiev will be the sole employee through month seven at which time he will hire an assistant to help out with design execution, as well as some of the administrative details.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Kiev | $42,000 | $42,000 | $42,000 |
Assistant | $17,280 | $34,560 | $34,560 |
Total People | 2 | 2 | 2 |
Total Payroll | $59,280 | $76,560 | $76,560 |
The following sections will outline important financial information.
The following table details important financial assumptions.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 30.00% | 30.00% | 30.00% |
Other | 0 | 0 | 0 |
The Break-even Analysis indicates that approximately $7,000 will be needed in monthly revenue to reach the break-even point.
Break-even Analysis | |
Monthly Revenue Break-even | $7,053 |
Assumptions: | |
Average Percent Variable Cost | 3% |
Estimated Monthly Fixed Cost | $6,841 |
The following table will indicate projected profit and loss.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $69,397 | $125,251 | $145,392 |
Direct Cost of Sales | $2,082 | $3,758 | $4,362 |
Other Production Expenses | $0 | $0 | $0 |
Total Cost of Sales | $2,082 | $3,758 | $4,362 |
Gross Margin | $67,316 | $121,493 | $141,030 |
Gross Margin % | 97.00% | 97.00% | 97.00% |
Expenses | |||
Payroll | $59,280 | $76,560 | $76,560 |
Sales and Marketing and Other Expenses | $2,820 | $2,820 | $2,820 |
Depreciation | $2,400 | $2,400 | $2,400 |
Website maintenance | $600 | $600 | $600 |
Insurance | $900 | $900 | $900 |
Rent | $7,200 | $7,200 | $7,200 |
Payroll Taxes | $8,892 | $11,484 | $11,484 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $82,092 | $101,964 | $101,964 |
Profit Before Interest and Taxes | ($14,776) | $19,529 | $39,066 |
EBITDA | ($12,376) | $21,929 | $41,466 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $0 | $5,859 | $11,720 |
Net Profit | ($14,776) | $13,670 | $27,347 |
Net Profit/Sales | -21.29% | 10.91% | 18.81% |
The following chart and table will indicate projected cash flow.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $69,397 | $125,251 | $145,392 |
Subtotal Cash from Operations | $69,397 | $125,251 | $145,392 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $69,397 | $125,251 | $145,392 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $59,280 | $76,560 | $76,560 |
Bill Payments | $20,322 | $32,111 | $38,554 |
Subtotal Spent on Operations | $79,602 | $108,671 | $115,114 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $79,602 | $108,671 | $115,114 |
Net Cash Flow | ($10,205) | $16,580 | $30,278 |
Cash Balance | $11,995 | $28,575 | $58,853 |
The following table will indicate the projected balance sheet.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $11,995 | $28,575 | $58,853 |
Other Current Assets | $0 | $0 | $0 |
Total Current Assets | $11,995 | $28,575 | $58,853 |
Long-term Assets | |||
Long-term Assets | $19,800 | $19,800 | $19,800 |
Accumulated Depreciation | $2,400 | $4,800 | $7,200 |
Total Long-term Assets | $17,400 | $15,000 | $12,600 |
Total Assets | $29,395 | $43,575 | $71,453 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $2,172 | $2,681 | $3,213 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $2,172 | $2,681 | $3,213 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $2,172 | $2,681 | $3,213 |
Paid-in Capital | $43,000 | $43,000 | $43,000 |
Retained Earnings | ($1,000) | ($15,776) | ($2,106) |
Earnings | ($14,776) | $13,670 | $27,347 |
Total Capital | $27,224 | $40,894 | $68,240 |
Total Liabilities and Capital | $29,395 | $43,575 | $71,453 |
Net Worth | $27,224 | $40,894 | $68,240 |
The following table compares standard business ratios with the Standard Industry Code #7336, Graphic Design Services.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 80.48% | 16.08% | 9.02% |
Percent of Total Assets | ||||
Other Current Assets | 0.00% | 0.00% | 0.00% | 52.57% |
Total Current Assets | 40.81% | 65.58% | 82.37% | 76.45% |
Long-term Assets | 59.19% | 34.42% | 17.63% | 23.55% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 7.39% | 6.15% | 4.50% | 34.45% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 23.62% |
Total Liabilities | 7.39% | 6.15% | 4.50% | 58.07% |
Net Worth | 92.61% | 93.85% | 95.50% | 41.93% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 97.00% | 97.00% | 97.00% | 100.00% |
Selling, General & Administrative Expenses | 118.29% | 86.09% | 78.19% | 77.05% |
Advertising Expenses | 1.47% | 0.81% | 0.70% | 1.42% |
Profit Before Interest and Taxes | -21.29% | 15.59% | 26.87% | 0.83% |
Main Ratios | ||||
Current | 5.52 | 10.66 | 18.32 | 1.51 |
Quick | 5.52 | 10.66 | 18.32 | 1.13 |
Total Debt to Total Assets | 7.39% | 6.15% | 4.50% | 66.33% |
Pre-tax Return on Net Worth | -54.28% | 47.76% | 57.25% | 2.06% |
Pre-tax Return on Assets | -50.27% | 44.82% | 54.67% | 6.12% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | -21.29% | 10.91% | 18.81% | n.a |
Return on Equity | -54.28% | 33.43% | 40.07% | n.a |
Activity Ratios | ||||
Accounts Payable Turnover | 10.36 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 27 | 28 | n.a |
Total Asset Turnover | 2.36 | 2.87 | 2.03 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.08 | 0.07 | 0.05 | n.a |
Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $9,824 | $25,894 | $55,640 | n.a |
Interest Coverage | 0.00 | 0.00 | 0.00 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.42 | 0.35 | 0.49 | n.a |
Current Debt/Total Assets | 7% | 6% | 4% | n.a |
Acid Test | 5.52 | 10.66 | 18.32 | n.a |
Sales/Net Worth | 2.55 | 3.06 | 2.13 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Small companies | 0% | $0 | $600 | $1,500 | $1,360 | $1,820 | $2,296 | $2,811 | $3,240 | $3,558 | $3,769 | $3,936 | $4,450 |
Medium companies | 0% | $0 | $0 | $0 | $2,000 | $2,676 | $3,376 | $4,134 | $4,765 | $5,232 | $5,543 | $5,788 | $6,544 |
Total Sales | $0 | $600 | $1,500 | $3,360 | $4,496 | $5,672 | $6,945 | $8,005 | $8,790 | $9,312 | $9,724 | $10,994 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Small companies | $0 | $18 | $45 | $41 | $55 | $69 | $84 | $97 | $107 | $113 | $118 | $133 | |
Medium companies | $0 | $0 | $0 | $60 | $80 | $101 | $124 | $143 | $157 | $166 | $174 | $196 | |
Subtotal Direct Cost of Sales | $0 | $18 | $45 | $101 | $135 | $170 | $208 | $240 | $264 | $279 | $292 | $330 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Kiev | 0% | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 |
Assistant | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $2,880 | $2,880 | $2,880 | $2,880 | $2,880 | $2,880 |
Total People | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | |
Total Payroll | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $6,380 | $6,380 | $6,380 | $6,380 | $6,380 | $6,380 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $0 | $600 | $1,500 | $3,360 | $4,496 | $5,672 | $6,945 | $8,005 | $8,790 | $9,312 | $9,724 | $10,994 | |
Direct Cost of Sales | $0 | $18 | $45 | $101 | $135 | $170 | $208 | $240 | $264 | $279 | $292 | $330 | |
Other Production Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $0 | $18 | $45 | $101 | $135 | $170 | $208 | $240 | $264 | $279 | $292 | $330 | |
Gross Margin | $0 | $582 | $1,455 | $3,259 | $4,361 | $5,502 | $6,737 | $7,765 | $8,526 | $9,033 | $9,432 | $10,664 | |
Gross Margin % | 0.00% | 97.00% | 97.00% | 97.00% | 97.00% | 97.00% | 97.00% | 97.00% | 97.00% | 97.00% | 97.00% | 97.00% | |
Expenses | |||||||||||||
Payroll | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $6,380 | $6,380 | $6,380 | $6,380 | $6,380 | $6,380 | |
Sales and Marketing and Other Expenses | $235 | $235 | $235 | $235 | $235 | $235 | $235 | $235 | $235 | $235 | $235 | $235 | |
Depreciation | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Website maintenance | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | |
Insurance | $75 | $75 | $75 | $75 | $75 | $75 | $75 | $75 | $75 | $75 | $75 | $75 | |
Rent | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | |
Payroll Taxes | 15% | $525 | $525 | $525 | $525 | $525 | $525 | $957 | $957 | $957 | $957 | $957 | $957 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $5,185 | $5,185 | $5,185 | $5,185 | $5,185 | $5,185 | $8,497 | $8,497 | $8,497 | $8,497 | $8,497 | $8,497 | |
Profit Before Interest and Taxes | ($5,185) | ($4,603) | ($3,730) | ($1,926) | ($824) | $317 | ($1,760) | ($732) | $29 | $536 | $935 | $2,167 | |
EBITDA | ($4,985) | ($4,403) | ($3,530) | ($1,726) | ($624) | $517 | ($1,560) | ($532) | $229 | $736 | $1,135 | $2,367 | |
Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Net Profit | ($5,185) | ($4,603) | ($3,730) | ($1,926) | ($824) | $317 | ($1,760) | ($732) | $29 | $536 | $935 | $2,167 | |
Net Profit/Sales | 0.00% | -767.17% | -248.67% | -57.32% | -18.33% | 5.58% | -25.34% | -9.14% | 0.33% | 5.75% | 9.62% | 19.71% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $0 | $600 | $1,500 | $3,360 | $4,496 | $5,672 | $6,945 | $8,005 | $8,790 | $9,312 | $9,724 | $10,994 | |
Subtotal Cash from Operations | $0 | $600 | $1,500 | $3,360 | $4,496 | $5,672 | $6,945 | $8,005 | $8,790 | $9,312 | $9,724 | $10,994 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $0 | $600 | $1,500 | $3,360 | $4,496 | $5,672 | $6,945 | $8,005 | $8,790 | $9,312 | $9,724 | $10,994 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $6,380 | $6,380 | $6,380 | $6,380 | $6,380 | $6,380 | |
Bill Payments | $50 | $1,486 | $1,504 | $1,532 | $1,587 | $1,621 | $1,671 | $2,126 | $2,158 | $2,181 | $2,197 | $2,210 | |
Subtotal Spent on Operations | $3,550 | $4,986 | $5,004 | $5,032 | $5,087 | $5,121 | $8,051 | $8,506 | $8,538 | $8,561 | $8,577 | $8,590 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $3,550 | $4,986 | $5,004 | $5,032 | $5,087 | $5,121 | $8,051 | $8,506 | $8,538 | $8,561 | $8,577 | $8,590 | |
Net Cash Flow | ($3,550) | ($4,386) | ($3,504) | ($1,672) | ($591) | $551 | ($1,106) | ($501) | $252 | $751 | $1,147 | $2,404 | |
Cash Balance | $18,651 | $14,265 | $10,761 | $9,089 | $8,498 | $9,049 | $7,943 | $7,442 | $7,693 | $8,444 | $9,592 | $11,995 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $22,200 | $18,651 | $14,265 | $10,761 | $9,089 | $8,498 | $9,049 | $7,943 | $7,442 | $7,693 | $8,444 | $9,592 | $11,995 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $22,200 | $18,651 | $14,265 | $10,761 | $9,089 | $8,498 | $9,049 | $7,943 | $7,442 | $7,693 | $8,444 | $9,592 | $11,995 |
Long-term Assets | |||||||||||||
Long-term Assets | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 | $19,800 |
Accumulated Depreciation | $0 | $200 | $400 | $600 | $800 | $1,000 | $1,200 | $1,400 | $1,600 | $1,800 | $2,000 | $2,200 | $2,400 |
Total Long-term Assets | $19,800 | $19,600 | $19,400 | $19,200 | $19,000 | $18,800 | $18,600 | $18,400 | $18,200 | $18,000 | $17,800 | $17,600 | $17,400 |
Total Assets | $42,000 | $38,251 | $33,665 | $29,961 | $28,089 | $27,298 | $27,649 | $26,343 | $25,642 | $25,693 | $26,244 | $27,192 | $29,395 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $1,436 | $1,453 | $1,479 | $1,533 | $1,566 | $1,600 | $2,055 | $2,085 | $2,108 | $2,123 | $2,135 | $2,172 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $1,436 | $1,453 | $1,479 | $1,533 | $1,566 | $1,600 | $2,055 | $2,085 | $2,108 | $2,123 | $2,135 | $2,172 |
Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Liabilities | $0 | $1,436 | $1,453 | $1,479 | $1,533 | $1,566 | $1,600 | $2,055 | $2,085 | $2,108 | $2,123 | $2,135 | $2,172 |
Paid-in Capital | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 |
Retained Earnings | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) | ($1,000) |
Earnings | $0 | ($5,185) | ($9,788) | ($13,518) | ($15,444) | ($16,268) | ($15,951) | ($17,712) | ($18,444) | ($18,415) | ($17,879) | ($16,944) | ($14,776) |
Total Capital | $42,000 | $36,815 | $32,212 | $28,482 | $26,556 | $25,732 | $26,049 | $24,288 | $23,556 | $23,585 | $24,121 | $25,056 | $27,224 |
Total Liabilities and Capital | $42,000 | $38,251 | $33,665 | $29,961 | $28,089 | $27,298 | $27,649 | $26,343 | $25,642 | $25,693 | $26,244 | $27,192 | $29,395 |
Net Worth | $42,000 | $36,815 | $32,212 | $28,482 | $26,556 | $25,732 | $26,049 | $24,288 | $23,556 | $23,585 | $24,121 | $25,056 | $27,224 |
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Freelance Graphic Design: An Introduction
Working independently as a graphic designer , offering design services to customers on a by-project basis is known as freelance graphic design. Freelance graphic designers have become more in demand in recent years due to the growing gig economy and technological advances.
This increase can be attributed to the flexibility and cost-effectiveness that freelancers offer businesses of all sizes. Advertising, marketing, web design and branding are some sectors where freelance graphic designers play an important role by bringing their creative talents and expertise to bear for businesses wishing effectively to communicate messages.
For example, let's say there's a start-up business requiring someone to create a logo for them; they could engage the services of a freelancer who specialises in this particular field – otherwise known as logo design – so they can come up with something unique and visually appealing which represents what they want their brand identity to convey. By working closely with clients at every stage, freelancers ensure that final designs align seamlessly with company values or target markets/stakeholders.
Table of Contents
Working independently and outside the confines of a traditional job, freelance graphic designers provide services to clients. They are not bound to a particular company like an in-house graphic designer, so that they can choose their schedule, projects and clients. Freelance graphic designers aren't tied down to one employer and can handle multiple assignments simultaneously.
For instance, on any given day, a freelance graphic designer might work on designing a website for a small business in the morning. They may create social media graphics for a marketing agency in the afternoon. And at night? Maybe collaborating with a publishing company on designs for book covers. The variety allows freelancers to expand their skills into different realms of creation.
There are several advantages and disadvantages to freelance graphic design that you need to think about before deciding if this is the right career path for you.
Advantages:
Flexibility: One of the most significant upsides to being a freelance graphic designer is the control it gives you over your working hours. You can choose exactly what projects you want and when and where to work on them. This could be from home while travelling or anywhere else that suits you.
Higher earning potential: Depending on how experienced or in-demand your skills are, freelance graphic designers can earn much more than those who do not work for themselves. You will have complete control over your rates and how many clients/projects can be handled at anytime.
Wide range of clients: Another advantage is that freelancers often get exposure to different types of projects across many industries, which enables them to gain experience with other sectors they may otherwise have not had such close contact with.
Skillset development: When working within an agency, there tend to be experts in each field, but when freelancing, there is often only yourself, so this means getting involved in all areas, which helps improve your overall skillset whilst also learning new techniques/styles etc. from other people doing similar roles elsewhere.
Disadvantages:
Irregular income: As mentioned above, being self-employed means that sometimes business can be quiet, resulting in periods where cash flow is less than expected. Therefore, any freelancer must have financial plans/contingency options if things don't go according to plan initially.
Client acquisition: As a beginner or someone looking into going freelance, you will soon learn that finding and securing clients can be challenging! This area requires good marketing skills as well as presenting robust portfolio case studies to attract prospective customers. Also, building network connections and becoming a trusted supplier takes considerable time and effort.
Self-management: It is the responsibility of a freelance designer to handle all aspects of their business, including marketing, client communication, taxes and other administrative tasks. Freelancers must be highly organised to manage projects, meet deadlines, and ensure client satisfaction. They must also cover their insurance if any issues affect their professional reputation.
Despite the challenges, freelancing graphic design can be a fulfilling career choice for those who enjoy working independently and have plenty of motivation.
Starting a freelance graphic design business necessitates careful thought and planning. The following are some stages to assist you in getting started:
Ascertain Your Speciality: Determine your area of expertise within graphic design. To differentiate yourself in the market and appeal to clients looking for specialist services, concentrate on one specific niche, such as web design , branding, or print design.
Register Your Business: Choose a name for your company and register it with the appropriate authorities. Depending on where you live, you might also need to obtain any necessary licences or permits to operate lawfully.
Set Up a Workspace : Establish an area dedicated solely to work conducive to creativity and productivity. Ensure you have all the necessary equipment and software for practical design work.
Formulate a Business Plan: Develop an extensive business plan that covers your goals, target market, pricing structure, marketing strategies, and financial outlooks. A precise business plan will be a blueprint for your freelance graphic design company's future.
Create Professional Contacts: Networking is crucial for freelancers because networking can help them expand their collaboration and referral possibilities. Attend industry events, join online designer communities and connect with professionals in related fields so you can establish connections—and gain visibility while doing so.
For example's sake, let's say your specialisation becomes logo design; what this means is that within different industries, there'll be businesses needing unique logos created just for them – i.e., by narrowing down which aspect of graphic designing you specialise in (in this case it would be creating unique/memorable logos) allows potential customers requiring such skills locate specifically someone like yourself who has positioned themselves as ‘the' logo guru!
To be a successful freelance graphic designer, consider the following suggestions:
Also, say you've just done an excellent job branding a café in your town, and they're pleased with your creative ideas and your conscientiousness about everything. If they're willing to put that into writing? That's a testimonial, like, “We liked working with Chris because she made our brand look brilliant!” You should put it on your website (if you have one) and share it on social media so other potential clients are like, “Yes! I want my brand to look brilliant too!”
It's not bragging IF SOMEONE ELSE SAYS IT ABOUT YOU!
Being new to the freelance graphic design market, it isn't easy to spot opportunities. Nonetheless, numerous strategies can be deployed to discover fresh projects:
Freelance Job Platforms: Use frequently used freelancing platforms such as Upwork , Freelancer, and Fiverr . These platforms let you create a profile, display your portfolio and bid on suitable projects.
Networking: Networking is an effective method for identifying new positions in freelance graphic design. Attend industry events, join online design communities and connect with professionals in similar sectors. You will gain access to potential job opportunities via referrals or collaborations by forging relationships with fellow designers, marketers and entrepreneurs.
Referrals: Encourage satisfied clients to send more work by referring you to their contacts. Word-of-mouth recommendations offer a valuable source of new business leads. Going above and beyond by delivering outstanding service and top-quality work will boost the chances of receiving referrals.
To illustrate how networking works in practice, imagine you have joined a popular design community on social media where members regularly comment on each other's work or participate in lively discussions.
One day, another designer notices your skills and recommends you when one of his clients needs a graphic designer for an upcoming project.
This referral immediately creates a brand-new freelance job opportunity for you!
A commanding graphic design portfolio is crucial to display your talents and attract potential clients. These tips can help you create just that.
Pick Your Best Work: Select the most incredible range of standout design projects to highlight your skills and expertise. Diverse formats and styles will emphasise versatility.
Get Organised: Create a visually pleasing, user-friendly portfolio. Briefly describe each project's aims and results. Case studies, which offer detailed insights into your creative process, are worth considering.
Make It Personal: Tailor what you present to suit specific employers or clients – creating separate versions for different industries or specialisms might be necessary.
Go Beyond Design: Integrate satisfied client testimonials as an easy way to add credibility – they'll also humanise the content.
For example:
Let's say you've rebranded a tech start-up – producing a new logo, website design and marketing collateral. You might include concepts, final techniques and highlights from the subsequent campaign to demonstrate your complete skillset effectively.
As a freelance graphic designer, setting the correct rates for your services is essential. Doing so is crucial to your financial success and how clients perceive your value as a designer. When figuring out what you should charge, keep in mind these key factors:
Do Your Research: Conduct market research to see what other freelancers with similar experience and skills charge for their services. This will help you set competitive rates that reflect the value you bring to your clients.
Factor In Expenses: Consider overhead costs and time investment when deciding how much to charge. Also, think about how much income you'd like to make from freelancing, which will be helpful when making pricing decisions.
Value-Based Pricing: Determine your fees based on the value of what you're offering, considering factors such as the complexity of the project, expertise and client budget. Using design solutions (yours!) could positively impact the client's business or brand; this can help justify higher prices.
For example, say you have extensive experience creating custom illustrations for children's books – because this skill is quite specialised compared with being able to develop basic logos (for example) – it would likely mean setting relatively high prices for such work.
If you want to protect yourself and your clients, drafting comprehensive contracts and agreements is crucial. These are the key things to consider when drafting freelance graphic design contracts:
Scope of Work: Clearly explain what work needs doing, what the deliverables will be, and how long everything should take; this helps prevent misunderstandings and “scope creep”. List the specific design services that will be provided – for example, logo design or website branding.
Payment Terms: Set out exactly how much you'll get paid, when you expect payment (and whether you require an upfront deposit), and how clients can pay (cheque? or PayPal?).
Intellectual Property Rights: Determine who has rights over your work once they've paid for it. For instance, many designers say they own their work until it's fully paid up but then transfer ownership rights over the final design so their client can use it completely. However, even if a client owns something outright, it doesn't mean you can't show examples of that piece in your portfolio.
Confidentiality/Non-Disclosure: If any sensitive information is tied up in a project – e.g., trade secrets or confidential business plans – make sure both sides agree in writing not to disclose that stuff elsewhere.
Dispute Resolution: You could avoid going to court by specifying specific ways disputes must be sorted out, such as mediation or arbitration.
Here's an example of why getting these things on paper makes sense:
Let's say you're working with a start-up on branding material, including a new logo. In your agreement with them, clearly state that once they've coughed up funds in total – before delivery – ownership passes from agency/designer X to client Y. However! Include wording stating (… don't just assume) this won't stop designer X from displaying the finished item(s) “in perpetuity” as part of its portfolio/self-promotion mechanism.
Being a freelance graphic designer, having the right tools can significantly boost your productivity and efficiency. Here are some essential tools for freelance graphic designers:
Design Software: Get to know industry-standard graphic design software such as Adobe Creative Cloud, which includes popular applications like Photoshop , Illustrator , and InDesign . These tools provide robust capabilities to create and edit various design projects.
Online Portfolio Platforms: Use platforms like Behance, Dribbble or Squarespace to build and showcase your online portfolio. These platforms offer customisable templates and features that allow you to present your work professionally with visual appeal.
Time Tracking and Invoicing Tools: Use tools like Toggl, Harvest or QuickBooks to track your time spent on projects and create professional client invoices. These tools help you keep track of billable hours, send invoices and manage finances more efficiently.
Project Management Software: Stay organised and manage projects effectively with tools like Asana, Trello or Basecamp . These platforms let you create project boards, set deadlines, assign tasks and collaborate with clients/team members.
Continuous Learning Resources: Take advantage of online learning platforms such as Skillshare , Udemy or Linkedin to improve skills/expertise continually over time. Such platforms have various courses/tutorials on various design topics.
Here's an example scenario where these essential tools can come in handy – You're working on a web design project for a client. You use Adobe Photoshop for creating website mockups while using Adobe Illustrator to craft custom icons/illustrations. When managing the project efficiently, you utilise Project management software (say Asana) for setting tasks, tracking progress, and maintaining good communication with the client. By leveraging these essential resources/tools, you can not only deliver high-quality work but also streamline workflow at the same time!
For creative professionals, freelance graphic design presents many opportunities to establish a successful career. Freelance graphic designers can prosper in this field thanks to flexible hours, higher earning potential and a diverse pool of clients. Nevertheless, irregular income and client acquisition's drawbacks must be addressed. By adopting best practices, honing their skills and using the right tools, freelancers can overcome these challenges on their way to achieving personal goals. Fully embrace the potentials that come with freelance graphic design as you build a fulfilling and lucrative future in the sector.
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Looking to work for yourself as a graphic designer? Find out how to start a freelance graphic design business, including what to think about with your branding, business type, insurance, financial considerations, networking and marketing, and more.
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In this episode of Design Domination, I’m getting into what you need to think about and what you need to do to start a freelance graphic design business. If you already have your own creative business, you may still get some good business tips . Stick around to get business tips, including legal and financial considerations, insurance and marketing and other tips.
A lot of graphic designers have asked me, and I’ve seen a lot of them asking online: what do they need to do, how do they start a freelance graphic design business.
To give you a bit of background, I actually started my business before I went full time in it. I worked a full-time job and freelanced for seven years before going out on my own full time. So it doesn’t have to be something where you flip a switch from full-time employee to full-time freelancer.
Let’s start with the fun stuff, creating your branding.
The first thing to think about is your business name. Will you use your personal name or create a business name?
Now, you don’t have to create a business name to go into business for yourself, but it’s definitely something to think about.
I actually used my personal name at first, then I called my business something else before settling on Gratzer Graphics in the early 2000s.
It’s definitely helpful to think about early on because you want to make sure of a few things:
You want things to be named as consistently as possible across all platforms.
I went into a lot of detail and gave lots of tips for naming your freelance graphic design business in episode 68.
You’ll also want to design a logo and in all the various print and web formats. It’s going to be on all your marketing materials and social media accounts.
You may also want to choose typefaces that you can use in your print or PDF marketing materials and on your website. So you might consider open source fonts such as Google Fonts, which you can download and use online.
Otherwise, you can purchase web versions of fonts, if they’re available for that typeface, or find similar ones to use for the web.
You’ll need business cards—yes, printed business cards. They don’t have to be professionally printed at first. They could just be done on perforated business card paper that you print out on your home office printer.
You can hand them out at in-person meetings and networking events. But you can also mail them out with thank you cards or other correspondence.
It only helps you if clients have a tangible piece on hand. Plus, it’s also a way to stand out from other graphic designers, who no longer see the need for the business card.
You’ll need to design letterhead, which you can also use for your invoices, proposals and estimates, unless you’re going to pay for project management or proposal software, in which case you’re usually only able to upload a logo and modify fonts and colors.
This might seem minor, but I think it’s something to consider for sure—labels, envelopes and cards.
I like to send out thank you cards to not only potential clients after sending them a proposal but also to people who’ve referred clients. I also sometimes send checks with notes in the mail to subcontractors.
People really appreciate the extra time spent on sending a card. So it can have a lot of impact and make you more memorable. That makes clients more likely to contact you again, and subcontractors more likely to help you in the future. They all feel appreciated.
For labels, I buy the Avery labels that I can just print off as I need. They have templates you can download to set them up. But I just measure where they fall on the sheet and set up my InDesign file accordingly.
For envelopes, I use lime green envelopes that match my green brand color, instead of using white, so that they stand out in the mail.
You’ll want to get your website up and make sure it’s always available to attract your potential clients.
In the very beginning, just set a page up with a few portfolio pieces and contact information. After that, you can spend more time on it. You don’t want to spend months perfecting your website design, which will just prevent you from taking action and getting clients.
As soon as you can after that, make sure the design appeals to the potential clients you’re looking to attract. If you’re looking to attract legal and financial businesses, for example, the website design would have a different look compared to if you’re targeting crafters.
If you’re new to the graphic design world and you’re not yet at a point where you know who you want to work with or what industries you want to work with, then once you figure that out, you can modify your website to reflect that.
You want to show the types of work that you want to get and also show good work. Bad work will dilute the perceived quality of your work. It will also make it look like the quality of your work is inconsistent. Prospects may wonder if it will be a crap shoot getting quality work for their project.
You’ll want to include testimonials from prior clients you’ve worked with. If you haven’t had any clients before, then get testimonials from people you’ve worked with at your job—any comments that can speak to your design work, experience working with you or the results from the work.
You’ll want to buy a domain name that is easy to remember. I like NameCheap for buying domains. You may want to buy more than one domain name extension, such as .com, .net, etc.
You’ll also want to set it to auto-renew, so it doesn’t expire and you risk losing it. Someone could swipe it up and then charge big bucks selling it.
You’ll want a reliable web host with good uptime and support.
I like Pair , WP Engine and A2 . There’s also Siteground and Flywheel , among others.
You’ll want to include some legalese in the footer:
I talked about terms of use and privacy policies with Hans and Donata from Termageddon in episode 83.
If you can do this sooner rather than later, create an e-mail signup form, so you can start collecting e-mail addresses and building your list. You can then easily let prospects know when you’ve added a blog post or work to your site.
This keeps you top of mind, even if they don’t open or read your e-mail. They will see your name in their inbox.
The best way to get an e-mail address is to trade something of value for it, such as a lead magnet, which could be a free guide with tips that they might be interested in.
Some e-mail services offer a free account up to a certain amount of e-mail addresses.
I used MailChimp a long time ago. I’ve been using MailerLite for the past four years. I find it really easy to use.
There are more complex ones such as Active Campaign , which I’ve also used, but if you’re new to building your list and looking for something easy, I definitely recommend MailerLite.
I talked about the next few points in episode 52 in more detail, but you’ll want to optimize the SEO of your website to increase the chances of being found by prospects when looking for the types of services you provide.
Make darn sure your website is responsive and mobile friendly. Many potential clients may be viewing your site on a tablet or phone. If they have to pinch and pan or scroll to get around your website, that won’t be a good user experience. If you do web design, they may wonder if you would create a site that way for them.
You’ll want to make sure your website loads quickly, so that potential clients don’t get frustrated or leave your site waiting for it to load.
You can check this with GTmetrix and Pingdom .
For more details about what to include on your website, check out episode 52 on what designers need to put on their website and in their portfolio .
Now onto social media accounts. You’ll want to set up social media accounts wherever your potential clients are.
They may more heavily use one platform over another.
Be sure all of your account images and post images look consistent, so you look professional and memorable.
Also, it’s showing you practice what you preach. If you tell clients their branding should be consistent, then yours should be too.
OK, now for some of the not-so-fun but very important stuff to think about when creating your freelance business.
Disclaimer: I am not a lawyer or accountant, nor do I play one on the podcast. You should always consult a lawyer and accountant about your specific needs.
First, please understand that even if it’s just you as a freelancer and you’re using your personal name, you are still acting as a business.
So you may want to consider—at this point or in the future—creating a separate business identity whether you use your personal name or a different name for your business.
The reason for this is because forming a business separates your personal assets (house, car, etc.) from the business assets. It can provide protection in case you make an error in your work and someone comes after you.
But besides that, some potential clients may take you more seriously. It shows you think of yourself as a business, that you’ve made an investment for the long term and that you’re not a fly-by-night freelancer.
The most popular option is the limited liability company (LLC).
If you’re the only owner in the LLC, then you’d be a single-member LLC (what my business is).
For tax purposes, you’re seen as a disregarded entity. That means you file a personal tax return with your income on there.
You also file a personal property return, which is a misnomer, because that’s actually for your business. Your state usually charges an annual fee when you file this at tax time. In Maryland, I pay $300 per year.
You can form an LLC yourself or with the help of Legal Zoom or a lawyer. It’s typically not very expensive to do.
Forming an LLC in certain states may be cheaper. I have a few colleagues who have formed an LLC in Delaware rather than in their home state because it was cheaper or provided more benefits for whatever reason.
Another option is incorporation. I am not as familiar with incorporation as I am with an LLC, since I’ve had an LLC since 2003. But from what I understand, incorporating can cost more. There is also more paperwork involved apparently, which I believe has to be done throughout the year.
Depending on where you live, you may need to get a business license in order to conduct business. In the United States, this can vary from state to state.
It’s also a good idea to get a separate tax ID number for your business. Clients will often send you a W-9 form (in the United States), which is a formal request for your tax identification number.
It can be uncomfortable sharing your Social Security number all the time. It also can be a security risk.
Clients will usually ask you to email back the filled out and signed W-9 form, and you might not think anything of it. But email is not secure. So you don’t want to be emailing your Social Security number all over the place.
To get a separate tax ID for your business, you would need to apply for an EIN , which stands for Employer Identification Number. Then you would use that instead of your Social Security number when filling out W-9s.
It’s good to have a separate bank account and credit card for business purposes. If you form a business entity, you will want to have them in your business name.
This also applies to any Paypal , Stripe , Wise or Payoneer accounts you may open as a business as well.
You’ll want to create a contract. If you are offering graphic design, you may need only one contract. If you’re also offering web design, which involves a lot of other components, you may want to have a contract with additional terms.
I highly recommend investing in the services of a lawyer who understands design and intellectual property law to review your contractual terms in the beginning. That way, you’ll have peace of mind and protect yourself.
I talked about contracts (and estimates) in episode 13.
You’ll also want to consider insurance—a few types.
One type is E&O, which stands for errors and omissions. It is also known as professional liability insurance. Although rare, some clients may require you to have it.
It may pay for the cost of a professional mistake, like if you made a mistake in a printed piece and it needed to be reprinted.
It is recommended that you not let E&O coverage lapse, so that you have continued protection. You may not be protected otherwise. I don’t know if you wouldn’t be covered for work you created during that lapse or if a claim was made at that time.
I get E&O insurance for $38 a month through Freelancers Union . I used to pay 10 times more for the same HISCOX policy through an insurance broker.
The other type of insurance is CGL or commercial general liability insurance.
If something were to happen to your computer equipment as the result of theft, fire, flood, hurricane or something, this insurance would be for that purpose.
Your renter’s or homeowner’s insurance may not cover equipment for business use, including freelancing. So be sure to check with your insurance carrier. It’s usually cheaper to get this type of insurance through them too.
It may also cover a financial loss if, say, a client comes to your home and trips and falls and gets injured and comes after you.
Check with them and you can also learn more in episode 56, where I talked about how to protect your freelance business from disaster .
Medical insurance is something to consider if you’re going to be leaving a full-time job with benefits and don’t have insurance through a family member or spouse.
I covered various options for this in episode 56.
Backups are a different type of insurance.
Backups make sure you can work in case your computer equipment has a mechanical issue, gets stolen or something happens to it from a disaster.
You can back up to the cloud, but then you are reliant on an internet connection. With external hard drives, you don’t have to worry about that. You can even back up to both.
Whatever you do, just don’t skimp on backups!
The next thing you need to do is figure out the financials.
That includes the cost of all of the things I have mentioned so far and quite a few others that I will mention. You may want to put them into two buckets: one-time investment (such as forming an LLC) and ongoing expenses.
Ongoing expenses would be your Adobe CC subscription and E&O premiums. It may also be software for project management and for creating proposals, estimates and invoices.
You need to understand how much it costs you to just be in business.
Don’t forget about taxes. If you’re in the United States, you will want to pay estimated quarterly taxes , so that you don’t end up owing them all at once and you want to avoid penalties.
You’ll need to have an idea of what your pricing should be to make sure that you cover all of your business expenses, pay yourself and have profit left over.
If you’re trying to decide when to make the move from a full-time job to full-time freelancing, you’ll need to consider that a lot of your time will be spent managing the business and marketing.
You won’t be working eight hours a day on design work, and you may have some expenses that you didn’t have as an employee. So your rate will need to compensate for that. It should be higher than your hourly rate as an employee.
Of course, you’ll also now want to get out there and let people know about you.
Make sure you are on LinkedIn and that your profile is up to date and shows some work samples.
I had a talk with LinkedIn expert Brynne Tillman about how designers can optimize their LinkedIn profiles in episode 22. Be sure to check that out.
You can also check out job boards for businesses looking for freelancers or subcontractors.
There’s also Upwork . I did an entire episode on Upwork tips .
You can also regularly post content to your blog, social media accounts and e-mail list.
I will post the entire piece on the blog, then I will have social media images that are teasers, which then lead to the blog page to read the full article.
In the e-mails I sent out, I put the image and only the first paragraph or a lead-in as to why they need to know about what I just wrote and link to the full article.
I will also sometimes include a new piece of work added to the portfolio and have it continue to that page.
The purpose of doing it that way is to get them to your website. The purpose of posting and sending out the e-mail is to keep you top of mind and to also demonstrate your expertise.
I hope this information has been helpful to you. If it was, would you do me a favor?
Help me out by sharing this content to help me reach more designers. I’m really trying to grow my audience.
Please comment on the episode page.
I’m going back to freelancing next year after contracting for 8 years 😐
Thanks for the reminders on how to get myself set back up.
You’re welcome, Jack! Is there a particular type of design or industry you’re going to focus on?
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WEBSITE ESSENTIALS
When becoming your own boss, you have the freedom to set your own rules. Here's everything you need to know on the journey to become a freelance graphic designer.
Starting a freelance career can unleash a wide range of emotions, from the terrifying to the empowering. While it might not be the easiest of professional paths, running your own graphic design business does guarantee a sense of satisfaction and accomplishment, knowing your every cent was earned through your own hard work and skills.
To help you on your journey to self-employment, we’ve compiled a list of the most important things to keep in mind when becoming your own boss. Say hello to the complete checklist on how to become a freelance graphic designer, covering everything from creating a website , how to make a website and setting up a productive working station, to creating a graphic design portfolio , to demanding compensation from clients (on time, please!):
A graphic design freelancer is a professional who offers graphic design services on a freelance basis. Instead of being employed by a specific company or agency, a graphic design freelancer operates independently and is self-employed. Freelancers in graphic design are typically hired on a project-by-project basis by clients who require design expertise for various visual communication needs.
Graphic design freelancers possess skills in visual communication, layout design, typography, color theory and the use of graphic design software or other design tools. They may work with clients from diverse industries, including marketing, advertising, publishing and web development.
Make bureaucracy your friend (or at least try)
Personal branding is key
Eyes on the prize
Client better have my money
Juggling the perfect work-life balance
Spread the word
Illustration by Wix user Jennifer Xiao
Becoming self-employed means, first and foremost, starting a business on your own. This requires a lot of hands-down, hardcore finances on your part. While it’s the job itself that you love most, know that freelancing is just as much about business and numbers as it is about design. Here is what you need to look out for in order to remain on top of your paperwork at all times:
– Open a business: Research the basic laws of owning a business in your location. Consult with your local authorities about the process, then register as a small business.
– Tax payments: Consult with a tax accountant and read up on tax laws for independent contractors – it’s important to know what fraction of your payout per assignment must be paid to the government.
– Work permits: Look into all relevant permits and permissions you might need to obtain. For example, some local authorities require specific permits for working from home.
– Bookkeeping: Set up a financial bookkeeping system that works for you and complies with the local filing laws. Note that there are many affordable online platforms that can benefit you with this. Get folders (physical, virtual or both) to file all invoices and payments.
Be as organized as you can with this – we recommend arranging all paperwork by month and year. Some freelancers choose (or are entitled by law) to hire an accountant to help them file paperwork. If you’re thinking of hiring an accountant, make sure the decision is financially plausible for you.
– Plan ahead: Even if you’re just starting your career, it’s not too early to plan ahead. In fact, when it comes to saving for your retirement, the earlier the better. Take the time to decide on your savings, whether it’s a pension fund or any other form of long-term savings, and make sure to contribute regularly.
Some newly-freelance graphic designers feel that their portfolio doesn’t align with the kind of jobs that they’re interested in getting. In those cases, it might be tempting to work on free personal projects before even looking for the first job, from book cover ideas to wedding invitations.
But if you’re as well-trained and professional as we know you to be, remember that your portfolio will grow with time and experience, and that’s fine. When starting out, it’s better to work on your personal branding rather than create new projects – and the job offers are sure to follow.
As with most branding projects, concentrate on a great website, strong logo and branded merchandise - including taking inspiration from some great general portfolio website examples.
– Online portfolio : A sharp online presence is a must for getting the clients and projects you want. Portfolio websites serve as the foundation for your branding efforts, and are a useful way to introduce yourself to potential clients. Approach making your online design portfolio just as you would any other design project. For some inspiration, check out these graphic design magazines to see what other designers are doing online.
Go for a website design that creates an experience and is also beautiful in its own right, showcasing you at your very best. Curating only your best and most representative work (around six to eight projects) is recommended. You can also use your portfolio website as an online store , enabling you to sell art online as an additional source of income. Take inspiration from these freelance websites.
Make sure to add an updated version of your graphic design resume, your contact information and social media links, so that clients can reach you easily. Also include a written summary explaining who you are and what it is that you do. Last but not least, remember to make your website mobile friendly.
– Personal logo: While a logo is not a must for graphic designers, it’s also best not to type your name in Arial font at the top of your paperwork or website. Whether it’s an actual logo, an icon or any other creative interpretation, make your skills stand out across all platforms. You can use a logo maker to create your own, or check out logo ideas to get inspired. Need a name first? Check our our design name generator for inspiration.
– Branded merch: The visual language and brand identity you’ve crafted for your business should be carried across to your stationery as well. Sprinkle some of your creative stardust on your official papers, helping you stay on brand every time you generate an invoice or write a check.
Freelance work is much more fluid and dynamic than a nine-to-five job. You could be overloaded with work for several months on end, then scratching for any gig you can find soon after. One way to acknowledge that it’s common for work to come and go in cycles, and it’s nothing to worry about.
Some other ways to prepare for this include:
– Save for a rainy day: Keep track of your expenses and income. As self-explanatory as it may sound, make sure that your expenses don’t go over your earnings. When starting your own business, try to have a few months worth of living expenses saved up on the side, which could come in handy during the quieter periods.
– Make a yearly plan: Work out a personal annual budget, and be as realistic as you can with your forecast. Write down all major expenses that you anticipate to help you prepare in advance (Are you going on a holiday? Is your best friend getting married?). Making an annual business plan, rather than a monthly one, will enable you to navigate your finances knowledgeably and efficiently.
Working with clients is a tricky art form of its own. Going into it, remember that your work is valuable. Your clients have a need, and you provide them with a solution – a service business that deserves compensation, with actual money. Follow these guidelines to ensure that you get what you deserve:
– Never work for free: No matter what credit they may promise, the crazy exposure you might receive or the esteem and prestige, design is your profession and you deserve to be paid for what you do. Unless you work for a nonprofit or an important cause that you’re truly passionate about, it really is as simple as that.
– Sign a contract: A design job is a business transaction. As such, it requires a contract to clearly detail each side’s obligations. A contract is an important method of protecting your rights and preventing major surprises from popping up down the line (such as the client suddenly asking for an animated GIF version of the logo on the day of the deadline).
The contract should also detail the work process, so that both sides know what to expect. Use mood boards to help you plan your work and make sure to specify how many optional designs you’ll be presenting to the client in the first stage (we recommend around three initial designs). You'll also want to specify the number of revisions you plan on doing from there.
This should prevent you from being dragged down the rabbit hole of never ending comments (“My cousin doesn’t like purple, please change”) and endless back and forth conversations (“Not too fond of orange, either”). Also, make sure that your contract protects your intellectual property rights.
– Payment terms: Before going into a project, agree on its payment terms and include those on your invoice. The standard is usually 30 days since terminating the project. In case a client is late on payment, enforce your right to be paid on time. You can also charge interest on late payments (look into legislation on this one, too). Just as you’re expected to meet your deadlines, the client should also meet payment deadlines.
– Payment stages: In long-term projects, you don’t have to wait until the very end to get the cash flowing. Before accepting the project, set payment stages so that you get paid as you go.
You can determine a schedule that includes a deposit to be paid upfront (before you begin working), followed by an extra payment stage midway, and finally the majority of the total to be paid at the end of the project. Define clear dates for each of the stages, and include those in your contract.
– Pricing done right: Deciding what to charge for a project is never an easy call. Therefore, always base your pricing on market research. Establish a minimum rate, so you know not to take on projects below that number.
Estimating how much you’ll charge per project can be done either according to an hourly rate, or according to the scope of the project. If you go for the latter, we recommend charging by the amount of assets included, with an added margin for modifications (usually about 30%).
Differentiating work from personal life is much easier when you leave the office at the end of a work day. But when home is also your office, and the success of your new business lies solely in your hands, it’s harder to tell the two apart.
Set your limits early on, so that you know when it’s okay for you to indulge in an extended late brunch, versus the instances in which work might overflow into the weekend.
– Working hours: When a client hires your services, it’s easy to feel like you owe them the world. But luckily, you don’t. Leave room for your personal life by setting daily work shifts and not going overtime.
Work for a total of eight to nine hours per day, but no more. Create a routine by sticking to regular start and end times for your day, with regular breaks (a few quick five to ten minute breaks and one that’s significantly longer).
– A room of one’s own: Freelance design work can be done almost anywhere, or more specifically wherever there’s WiFi, but productivity is a completely different matter. Create a working environment that puts you in the right mood, and be sure to keep distractions to a minimum in order to better manage your time. One rule of thumb we can vouch for: working in bed is never a good idea.
– What friends are for: Freelance life can sometimes get very lonely. Find people you trust and make a point of asking their professional opinion from time to time, or hop on a video chat. Creativity and inspiration often happen when people collaborate, so reach out when you’ve hit a creative block or could simply use someone to talk to.
– Just say no (sometimes): Being self-employed doesn’t mean that you have to accept all projects that come your way. Knowing when to say no to a job offer is part of the game, too.
Taking the wrong job can often lead to frustration, or clog up your schedule so that you’re unavailable for better offers that might be right around the corner. As you learn what’s right for you, don’t be afraid to turn down projects that you’re not excited about and that won’t take you in the right professional path.
Now that you’re ready to go, it’s time to land your first clients as a freelance graphic designer. Remember that finding clients will get easier with time. Once you have a few happy customers, they’ll do most of the word-of-mouth for you, so that things will eventually gain their own momentum and traction. But until you hustle your way to the top, here are a proactive few steps to get you started:
– Bring traffic to your site: Ensure that your portfolio website is optimized to be found on search engines like Google by upping your SEO (Search Engine Optimization). Add relevant keywords for your field and specialty to improve your chances of showing up in Google search results. Consider including your title or speciality as part of your domain name (for example, ‘yournamedesign.com’). Add metadata and alt text to your visuals, and include social links and buttons to your Pinterest design so people can easily share your work.
– Social media: Make the best out of social networks such as LinkedIn, Facebook and Twitter. Being knowledgeable on tips for Instagram design is also crucial, as Instagram is one of the best social platforms for designers to display their work. Reach out to your friends and followers online to announce your recent shift into freelancing. Referrals and work offers often come from people who already know and appreciate you. Be sure to also utilize more niche, professional social platforms like Behance, Dribbble and Vimeo.
– Network: Even if terms like ‘networking’ cause you to cringe, don’t worry. You needn’t be a pushy salesperson, shaking hands and passing out business cards. Just being yourself, keeping in touch with peers and getting to know people from the industry can help you form genuine connections that might prove themselves valuable. That being said, don’t shy away from networking opportunities like online classes and communities, design contests, and more, and if you decide you want them, you can always create business cards that really highlight your design identity.
– Focus on the client: When communicating with a client, try to focus the conversation around their needs and vision, and less on your skillset. Remember that freelance work is about providing service to a client. As a result, your work won’t be measured by how gorgeous your designs are, but by how well you’re able to solve your clients’ problems.
– Online job boards: Job boards such as the Wix Marketplace are a good opportunity to jumpstart your freelancing career as a professional designer . It’s also okay to accept some lower wage jobs when getting started – you just need to get on the right path.
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As a freelance graphic designer, there are a myriad of avenues you can explore to generate revenue, target customers, and build your brand .
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However, to do it successfully, you need a business model that matches your goals.
A business model is similar to a business plan in that it creates a blueprint for your operation, identifies revenue streams, and your customer base. Plus, it outlines your products and services, and all financial and financing details.
But not every business model is the same, especially in the freelance world. That’s why we’ve delved into the most popular business models for freelance graphic designers
1. the solo model.
This is what most people will think of when they imagine a freelance career — just you on your own, covering all aspects of the business.
You are the service provider (the graphic designer) as well as the marketer, the accountant, and the customer service portal. The buck starts and stops with you.
The reason that most people think of freelancing in this way is because that’s how most freelancers start out .
It gives you incredible flexibility as you’re only responsible for yourself, rather than a team. You also have higher profit margins because you aren’t sharing the income from work.
However, in the solo model, you’re limited to your time and capabilities, and growth can be tricky. There are only so many hours in a day, and you can only spread yourself so thin.
Yet this isn’t a downside if you prefer to operate alone and don’t want to grow beyond what you yourself can offer.
For graphic designers looking for a low risk, lower stress option, going solo is an excellent idea. There won’t be any need to seek out investors or spend a huge amount of money on overheads.
And if you enjoy freelancing but don’t enjoy all the admin that comes with it, you can outsource tasks like accounting, marketing, or social media management. This allows you to focus on designing without getting weighed down by all the other requirements.
The only pitfall is that outsourcing tasks pushes up your overheads. But if you take your hours of billable time and compare them to what you spend on outsourcing, you may well find you still come out ahead.
Sometimes, it’s worth paying someone who has the expertise to get the job done quickly and correctly, rather than learning how to do so yourself. This is especially true for accounting, as having an expert do your tax can save you huge sums of money both in the short and long term.
As a solo freelance graphic designer, all you really need is your computer, design software, and an internet connection.
Any other tools or equipment are an added extra and are not essential to getting your freelance business off the ground.
If freelancing doesn’t work out, or you don’t enjoy it, you won’t suffer huge financial losses.
Once you’ve established yourself as a freelancer , it’s important to look at how you go about getting work and keeping income rolling in.
The gig business model for freelance graphic designers is great for those who don’t want to be tied to something repetitive, which can be a big creativity killer for a graphic designer.
With the gig model, you go from project to project and from client to client, working on new things all the time.
Think of it as if you were a live performer — performers get booked to perform at a specific venue or event, then get paid for the job, before moving onto the next performance.
As a graphic designer, you will focus on completing one project before you move onto the next — usually with a different client. You don’t have to commit to that client for any longer than it takes to finish the job.
The downside to this style of freelancing is that you need to be on the lookout for new clients constantly, and your marketing game must be on point.
While you get high flexibility, you also get low stability. For many graphic designers with a head for business and a flair for marketing, this isn’t an issue.
For freelancers who are great at finding new customers or can provide a top-notch quick turnaround service at a highly competitive rate, the gig model is an excellent choice. Quick turnaround times tend to lead to higher work volumes, and this improves your earning potential.
Graphic designers who offer a no-frills service or work on smaller jobs like logos , letterheads, event invites, or posters are going to have the edge here. Especially over those who take on large, multi-faceted design projects that can take weeks or even months to complete.
The gig model relies on being quick in and out, so you’ll need to be adept at tackling client briefs head on, delivering a quality product, and then tackling the next job.
Like the solo model, this business model is relatively low risk, and you won’t need to spend a large amount of capital getting yourself set up.
The retainer business model for freelance graphic designers offers you plenty of stability but can give you less freedom and flexibility.
The idea is to build up a strong relationship with one or more clients who then keep you on for the same number of hours or repetitive work each month.
Most graphic designers will work on a set number of hours per month, at a specific rate for a client. Other times, you can agree that you’ll complete a specific recurring job each month. For example, you’ll create a set number of social media images on a monthly basis.
Just ensure that you set out the parameters of your retainer clearly. Typically, retainers run for periods of six months or a year, and are renewed thereafter.
This gives you a definite idea of when it will end, and allows you time to look for new clients, or to extend your current agreement.
A well-drafted retainer agreement also makes expectations on both sides clear. If your agreement outlines the scope of work you’ll undertake, a client cannot increase your workload without increasing your pay.
You don’t want to be in a position where you’re locked into a retainer that’s no longer profitable. Or where the work you’re completing falls outside the initial agreement.
The benefit of this model is that you’re assured of consistent income , and you can budget set hours or days for completing this work.
Some creative freelancers don’t like this type of freelancing because it gets repetitive. It can also mean that you can’t take on a big project that’s all-consuming when you know you have other commitments.
However, the stability factor makes it very appealing, especially if you have many financial commitments you need to meet monthly.
For many graphic designers, the retainer model is the perfect middle ground. It requires decent admin skills and a high degree of responsiveness. If you possess these attributes, it’s likely the right fit.
This model falls in between the retainer and gig models. You work for clients on specific contracts, some of which can be recurring, and some of which can be once-off.
The contractual business model for freelance graphic designers can give you the best of both worlds in terms of stability and flexibility.
The trick to getting this model right is knowing how to charge. You don’t want to sign a contract that sees you doing five times more work than if you’d invoiced for billable hours.
You’ll need to know upfront what the job specs are, exactly what they entail, and build in some wiggle room for any design changes the client may request.
Making sure that your contract is 100% clear and concise and covers all eventualities is essential in ensuring you don’t end up out of pocket.
It’s great to know that you have guaranteed money coming in based on your contracts. This allows you to budget properly and to save too. If you’re keen on scaling your business up, then this model is a financially smart option.
Saving money to invest in your business will give you the opportunity to grow when the time is right, and you’ll have a buffer in case of emergencies too.
It’s good to know that you won’t always be working on the same content or clients again and again, month after month. You also won’t have to spend specific hours behind your desk, or need to complete work at specific times.
The danger with this in-between model is that you may suddenly lose a major contractual client, or a large contract comes to an end. You then need enough once-off work to tide you over until you secure a new contract, which isn’t always that simple.
You may not find a contract that pays as much, or that appeals to you in the same way. Or you have to secure a few smaller contracts to make up the same value.
This means you’ll need to put in extra legwork in onboarding clients and establishing a relationship. All this takes time, and may take away from your billable hours.
However, if you’ve saved money, you can rely on these funds to plug the gaps until you’ve signed a new client or clients on a contractual basis.
To many, this is the natural progression of a successful freelancer. You’ll move from being a solo unit that sometimes collaborates with other freelancers, to being the boss of your own company .
Essentially, you have maneuvered your offering to clients into a situation where you need other designers and creative people to work for you to complete the jobs that clients are commissioning.
Whether opening an agency was your goal from the start of your freelancing career, or it’s just happened organically over time, it’s important to consider what your agency’s identity is before you launch. This can mean that you need to put time, effort, and money into branding your business .
By establishing a clear identity, you can target your niche clients. If you simply decide to open an agency without a strong brand, it may not be immediately obvious what you do.
Not only will your target market be unclear and your marketing strategy vague, but potential clients won’t know what you offer either. Without an identity, your venture could fail before it’s even begun.
If you’re aiming to follow the agency model, you should already have several core clients on contract, and plenty of leads to follow once you open your doors. Don’t rely on being busy once-off as an indication that it’s time to expand. Growth requires planning.
A clear business plan is important, as this is your road map to success. If you open an agency, the days of winging it are over. A business plan not only maps out how you’ll operate, it’s a crucial document for securing outside funding.
You’ll need capital to build your agency, and may need to seek funding from investors. Having a concrete business plan can help you secure the funds needed to get you going.
You’ll need to shift into a far less flexible mode of operating, because clients will expect regular business hours from an agency. You’ll lose the flexibility and freedom of freelancing, but you’ll be the boss.
In a nutshell, you must prepare for new responsibilities and a whole new way of working.
It’s not always the hope or aim of a freelancer to end up with their own graphic design or marketing agency. If you want to broaden what you can offer your clients without having to become an agency officially, you can try a combination of the solo model and the agency model.
Here, you will remain your own unit but will outsource work to other freelancers to complete a specific project.
These other freelancers may have a different skill set to you, allowing you to offer more services. Alternatively, they could also be graphic designers, allowing you to boost your capacity and get a job finished faster.
Each of these business models for freelance graphic designers is scalable, and you can adapt them to the way you want to operate. In time, you may want to switch to a different model, depending on the direction you want your business to take.
The beauty of freelancing is that you’re the boss, and this gives you the flexibility and freedom to shake things up.
About the author: Editor at large and content monster, Alisa Taylor, shares awesome vibes and magic words wherever she drops her ink. She often focuses on business, graphic design, and education topics but is always looking to broaden her knowledge and expertise.
Jacob Cass is a brand designer & strategist, educator , podcaster , business coach and the founder of JUST Creative, an award-winning branding & design consultancy that doubles as an industry-leading blog. Get in touch .
Creative Spark is a freelance graphic design business that offers a comprehensive range of design services including branding, logo design, digital marketing visuals, and print designs. The business is initiated and operated by a seasoned graphic designer with a passion for transforming ideas into compelling visuals.
Industry overview.
The graphic design industry in the US has shown steady growth over the past five years with a projected annual growth of 3.5% to reach $15 billion in 2021, according to IBISWorld. The pandemic has escalated the demand for online visual content, opening new opportunities for graphic designers.
The growing number of businesses looking to enhance their online presence and the increasing importance of visual content in digital marketing are key factors driving the growth of the graphic design industry.
While there is significant competition in the freelance graphic design market, Creative Spark stands out by providing personalized attention, high-quality designs, and quick turnaround times.
Business model.
Creative Spark operates on a project-based model, generating revenue through various graphic design assignments sourced from multiple clients.
The pricing varies depending on the complexity and scope of each project. A standard rate card is maintained:
Creative Spark offers an array of graphic design services ranging from logo design and branding packages to digital marketing visuals and print designs.
Creative Spark targets small and medium businesses, startups, and entrepreneurs who need professional graphic design services to build and enhance their brand image.
Seo strategy.
Creative Spark will focus on targeting high-traffic keywords like "freelance graphic designer," "graphic design services," and "professional logo design." Given the industry average, a 2% conversion rate can be expected from approximately 4,000 monthly site visitors, resulting in 80 potential project inquiries per month.
A strong online presence will be maintained across platforms like Instagram, LinkedIn, and Behance, showcasing the portfolio, sharing design tips, and engaging with the community. A sample content calendar could include:
Revenue projections.
Assuming an average of 10 projects per month at an average cost of $400 per project, the estimated first-year revenue stands at around $48,000.
The initial startup costs, including a high-performance computer, design software subscriptions, and initial marketing expenses, are estimated to be around $2,500. The recurring monthly expenses, including software subscriptions, marketing, and miscellaneous costs, are expected to be around $200.
As a graphic design business, Creative Spark needs to ensure the legal use of fonts, images, and other design elements, in addition to a business license and professional liability insurance.
Creative Spark operates from a home office, communicating with clients via email, phone, and video conferencing. All designs are delivered electronically, allowing the business to operate efficiently without the need for physical office space.
With a wide range of service offerings, a well-defined target market, robust marketing strategies, and a lean operational model, Creative Spark is well-positioned to succeed in the burgeoning market of graphic design.
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Do you have an eye for design and the ambition to become an independent graphic designer? Starting a freelance graphic design business can be an exciting and rewarding venture, even if you're working on it as a side hustle.
To get you up and running, here are 10 essential tips that will help you find success and start gaining clients.
From project management software to setting prices to content marketing, this article covers everything you need to know to get your freelance graphic design business off the ground.
Running a freelance business is a serious undertaking, and it should be treated as such. Even if you're primarily interested in a side hustle, it's important to have a plan that covers the basics of what you want to do and how you will achieve it.
A good plan should include elements such as: how much time you can dedicate to the business each week, what services you will offer and at what rate, how you will market yourself and your services, and how you will track and manage income and expenses. Having a plan allows you to stay organized and prevents you from having to make decisions on the fly.
For example, let's say you want to start a freelance graphic design business. Make sure to consider a few key points in your plan: determine which graphic design services you will offer (logo design, web design, etc.), set a rate for those services, decide how you will market your services, come up with a bookkeeping system for tracking income and expenses, and consider which online platforms you will use to manage client relations. By having a plan and being organized, you’ll save yourself a lot of time and headaches in the long run.
As a freelance graphic designer side hustler, it’s important to determine the right prices for your services. This can be a tricky process, as you have to consider what your time is worth, what the market rate is, and what you are comfortable charging.
It’s important to research your local market to find out what other freelance graphic designers are charging for their services. This will help you to set a price that is competitive but still allows you to make a profit. When setting your prices, make sure to include things like travel expenses and hidden costs, such as purchasing software or materials. You will also want to consider what your time and skills are worth, and how that compares to the services you provide.
For example, if you charge an hourly rate of $50 per hour and you are working on a project that takes 8 hours, you would charge your client $400. This includes all expenses and materials needed for the project, as well as your time. This is an example of pricing your services fairly by evaluating the time and effort it takes to complete the project
When setting prices, also make sure to have different tiers of packages and services, as this will allow you to cater to different budgets. Having options like “ basic ”, “ standard ”, and “ premium ” services will allow clients to select the package that best fits their needs and budget.
Overall, it’s important to be aware when setting your prices as a freelance graphic designer side hustler. Research your local market, consider what your time and skills are worth, and offer different packages to cater to different budgets. This will help ensure that you are charging a fair rate for your services and will help you to be successful in your business.
As a freelance graphic designer, identifying your target market is an essential part of running a successful side hustle. What specific kinds of clients are you looking to attract? Understanding who your ideal customer is will help you to a create service offerings, plan marketing strategies, and design your website in a way that speaks directly to them.
For example, maybe your niche is corporate branding and web design. You can then create a portfolio page on your website that specifically highlights your experience and capabilities in this area. Additionally, you can focus your marketing efforts on engaging potential clients who may be looking for this kind of service.
It’s also useful to think about who your top competitors are and how you can differentiate yourself from them. Ask yourself what makes you unique and how you can use that to your advantage when it comes to marketing and design.
By researching and understanding your target market, you will be able to focus your efforts and create an effective plan to attract the right clients. This will ensure that you’re making the most of your freelance graphic design business.
Whether you’re a freelancer or a side hustler, a professional brand is essential to build your graphic design business. Start by creating a logo, wordmark, and website that reflects your creative style. This will serve as the foundational visual identity for your business. If you’re just starting out, skimping on branding won’t do you any favors, so be sure to invest in a quality logo and well-designed website. In addition, create social media profiles for your business and use them to promote your design work.
To give an example, when I started my freelance graphic design business, the first thing I did was create a professional logo, business website, and social media accounts on Instagram and Twitter. I used these channels to promote my work, share tips, and engage with potential clients. Before long, I was able to expand my freelance side hustle in a way I would have never expected.
Creating an effective and polished brand is an important step in setting yourself up for success as a freelance graphic designer. With a distinctive identity, you’ll be able to showcase your portfolio and skills, and attract the attention of potential clients.
It’s critical to establish an online presence as a freelance graphic designer. Not only does this serve as a way to showcase your portfolio and examples of your work, but it also serves as a source to reach new clients and promote your services.
First, consider designing a website for your business . This is an excellent way to showcase your work and show potential clients what you are capable of. Make sure to include a portfolio of work that you have completed and a bio that serves as an introduction to you and your skillset. Consider offering a contact form where potential clients can easily get in touch with you.
Another important tool to use is social media . This is where you can really start to promote yourself and your business in a more organic way. Create professional profiles on the major social media networks such as Facebook and LinkedIn. Post updates regularly and involve yourself in conversations related to graphic design. This will help you to establish yourself as an expert in the field and let people know that you are open for business.
For example , Kate is a freelance graphic designer who has been in the business for just two years. She decided to create a website that showcases her portfolio and also wrote a blog to become a trusted source for graphic design tips and tricks. She also regularly posts on social media accounts to promote her services and has had a steady stream of freelance projects since she launched her business.
These are just a few examples of how you can establish an online presence as a freelance graphic designer. Doing so will not only help to showcase your skills, but it will also make you more accessible to potential clients. Put yourself out there, and you will start to see the rewards.
Finding clients and networking are key for freelance graphic designers trying to build their business. As a side hustler, the challenge is even greater since you have less time for marketing and outreach. Fortunately, there are ways to make the most of limited time.
The first step is to create a professional portfolio of your work and make sure it is easily accessible and visible. You can also promote yourself on social media, such as Instagram and LinkedIn, to let potential clients know you are available. You can join communities and forums related to graphic design and actively interact with their members. Additionally, you can attend networking events and introduce yourself to other professionals in the industry.
In order to maximize the amount of time you put into networking, it’s important to create clear value propositions that emphasize how you can help your potential clients. For example, if you specialize in logo design, you can make sure to explain how you can help a business create a unique and memorable logo that reflects their brand identity.
By taking the right steps to connect with potential clients and demonstrate the value you offer, you can greatly increase your visibility as a freelance graphic designer. Through these efforts, you can build a successful business that allows you to turn your side hustle into something more.
For those looking to get ahead with their freelance graphic design business, project management software is an excellent tool. This software will help keep track of deadlines, tasks, and clients. Plus, it allows freelancers to ensure that their clients are satisfied with the work they produce.
Project management software is essential to any graphic design business, as it helps freelancers keep their clients up to date, run efficient projects, and complete projects on time. There are a variety of project management tools available, and freelancers should consider which one best meets their needs. Some of the more popular options include: Wrike , Asana , Monday.com, Trello , and Basecamp . All of these solutions provide a range of features to help freelancers succeed in their business.
For example , Wrike is an all-in-one project management software that allows freelancers to assign tasks, track time, and collaborate with clients. This enables freelancers to stay on top of tasks and deadlines, while also giving them the flexibility to communicate with their clients quickly and efficiently.
Graphic designers should also consider using project management software to streamline their processes . By using software like Wrike , Asana , Monday.com, Trello , and Basecamp , freelancers will be better equipped to keep track of their projects and deadlines. This will enable them to focus on creating quality work and delivering it to their clients on time. Additionally, it will help them spend less time managing projects and more time being creative.
Overall, project management software is a great tool for graphic designers looking to get the most out of their freelance business. By taking advantage of these solutions, freelancers will be able to stay on top of their projects, collaborate with their clients, and complete their projects on time.
When you’re working as a freelance graphic designer, you’re offering a service, and as such, it’s important that you set clear boundaries with your clients.
For example , when you take on a project, agree on the scope of the work and timeline before you start . This gives your client a proper idea of the work involved and when the project will be delivered. It also ensures that you’re both on the same page and clears up any confusion or surprises that may come up.
Also, make sure that you clarify what kind of work you’re doing and who will own the rights to the design. For most projects, you’ll own the copyright to the design and your client will typically have the right to use it for certain purposes. Additionally, you should specify how much feedback you will accept from your client so that you can stay on task.
Finally, have a process for payment and invoicing . Establish when payment is expected and what happens for late payments. You can include language about late payments in your contracts to protect your interests. Most importantly, make sure that you are compensated for your work and that the terms of payment are clearly stated to your client.
By establishing clear boundaries with your clients, you ensure that they know exactly what to expect and that you are fairly compensated for your work. This will help ensure a successful work relationship and keep you both happy.
Content marketing is a great way for freelance graphic designers to market their services and reach a wider audience. Content marketing involves creating and sharing valuable and engaging content, such as blog posts, videos, podcasts, and infographics, that are tailored to the target audience. This content helps to establish the graphic designer’s industry knowledge, build relationships with potential clients, and showcase their services.
When creating content, freelance graphic designers should focus on providing helpful information that is relevant to their target audience. They should also share their content on their website and on relevant channels, such as social media, forums, and online magazines. By investing in content marketing, freelance graphic designers can build their reputation as a reliable and trustworthy service provider.
For example , a freelance graphic designer can create a blog post about the importance of branding for a small business. In this post, they can provide their clients with helpful tips and guidelines for creating a successful branding strategy. By creating content such as this, the graphic designer is demonstrating their knowledge and expertise in the industry, which can help to attract potential clients.
Content marketing is an effective way for freelance graphic designers to market their services and reach a wider audience. Investing in content marketing can help to establish the graphic designer’s industry knowledge, build relationships with potential clients, and showcase their services.
As a freelance graphic designer, you are a one-person business. As such, there are certain investments that you need to make in order to succeed. This could mean investing in the right software and hardware , taking classes, or hiring a coach.
Having the right tools is essential in your profession. Investing in quality design software such as Snapied and a powerful computer will help you work more efficiently and develop the highest quality designs. You will also need a reliable printer, camera, and scanner. Investing in these will help ensure that you are able to produce work that stands out.
In addition to investing in the right tools, you should also invest in yourself. Taking classes and workshops related to graphic design is an excellent way to stay up to date with the latest trends and techniques. This will help you remain competitive and increase your value.
You should also consider hiring a coach or mentor. A coach or mentor can help guide you in the right direction, giving you personalized advice and feedback. Having someone with experience in the field to help you can be very beneficial in your journey as a freelance graphic designer.
For example, a mentor can help you identify potential clients or projects and develop a business plan to reach your goals. This can be invaluable advice that can help you succeed and take your business to the next level.
By investing in yourself and your business, you can set yourself up for success. With the right tools, education, and mentoring, you can become a successful freelance graphic designer and develop a successful side hustle.
Starting out as a freelance graphic designer can be intimidating. However, with the right plan, pricing strategy, and mindset, it can be an extremely rewarding side hustle.
By having a plan and setting your prices, you can establish a clear understanding of what you can offer, who you can serve, and how much income you can realistically generate. Additionally, by building your own professional brand, creating an online presence, networking, utilizing project management software, and promoting yourself through content marketing, you can create a steady stream of clients to work with.
Most importantly, investing in yourself and your business can help position you for long-term success. With these 10 tips in mind, you can start and build a profitable freelance graphic design business.
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Freelance graphic design is a growing field that offers creative professionals the opportunity to work independently and showcase their artistic skills . As a freelance graphic designer, you have the freedom to choose your clients, projects, and working hours. Connecting face-to-face with clients and understanding their design needs is an essential part of building successful relationships. It allows you to gather detailed information, provide personalized solutions, and ensure client satisfaction. Additionally, freelancing provides the flexibility to work from anywhere, which is particularly beneficial for those who prefer a remote work environment.
Creating a business plan is crucial for freelance graphic designers as it provides a roadmap for success. A well-crafted plan helps you define your goals and strategies , identify potential challenges, and plan for growth. It allows you to analyze your target audience and competition , understand market trends, and develop effective marketing and promotion strategies. By having a solid business plan in place, you can maximize your earning potential and stand out in a competitive market. Additionally, it helps you make informed decisions, manage resources effectively, and build a strong brand identity . With the right plan, you can establish yourself as a reliable and professional graphic designer, attracting clients and expanding your business .
A business plan is a crucial tool for freelance graphic designers to outline their goals, strategies, and financial projections. It serves as a roadmap for success and helps in securing funding or attracting clients. The key components of a business plan include:
By including these key components in their business plan, freelance graphic designers can effectively communicate their vision, strategies, and potential to investors or clients.
Once you have decided to pursue a career as a freelance graphic designer , it is important to define your long-term vision. This will serve as a roadmap for your business and guide your decision-making process. Keegan Edwards , a successful graphic designer, emphasizes the importance of having a clear vision for your freelance business. He suggests that you take the time to think about where you want to be in the future and what you want to achieve. By setting a clear vision, you can align your goals and objectives to ensure that you are working towards your desired outcome. It is also helpful to regularly revisit and refine your vision as your business evolves.
Once you have defined your long-term vision, the next step is to set SMART goals . SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. Setting SMART goals ensures that your objectives are well-defined and actionable. It helps you focus on what needs to be accomplished and provides a clear roadmap for success. When setting SMART goals, it is important to consider the needs and preferences of your target audience, as well as the competitive landscape. By aligning your goals with the market trends and analyzing the competition, you can position yourself effectively and attract small businesses that require graphic design services.
Once you have defined your long-term vision and set SMART goals , the next step is to identify the key objectives that will help you achieve those goals. These objectives should be specific, measurable, achievable, relevant, and time-bound. They serve as the stepping stones towards your ultimate vision. Some common objectives for freelance graphic designers include building a strong client base, increasing revenue, expanding services, and improving skills. By clearly defining your objectives, you can create a roadmap for success and track your progress along the way.
Once you have a clear understanding of your target audience , you can tailor your marketing efforts to reach them effectively. Conducting thorough market research will help you identify the demographics, interests, and needs of your potential clients. By knowing who your audience is, you can create a customer persona that represents your ideal client. This will guide your decision-making process and ensure that your marketing messages resonate with your target audience. Additionally, understanding your audience will allow you to position your freelance graphic design services in a way that sets you apart from your competitors. By offering unique value propositions and addressing the specific pain points of your target audience, you can attract and retain clients. Keegan Edwards , a successful freelance graphic designer, emphasizes the importance of identifying and understanding your target audience in order to build a solid business plan.
When analyzing the competition in the freelance graphic design industry, it is important to consider various factors. One key factor to look for is whether the competitors’ websites are mobile-friendly . In today’s digital age, having a mobile-friendly website is crucial for reaching a wider audience and providing a seamless user experience. Additionally, it is essential to assess the competitors’ pricing strategies, services offered, and customer reviews. By thoroughly analyzing the competition, freelance graphic designers can gain valuable insights and identify opportunities to differentiate themselves in the market.
Understanding market trends is crucial for the success of freelance graphic designers. By staying up-to-date with the latest trends in the industry, designers can identify new opportunities and tailor their services to meet the changing needs of their target audience. For example, with the rise of e-commerce, freelance graphic designers can focus on creating visually appealing and user-friendly websites for retail stores . Additionally, understanding market trends can help designers anticipate shifts in consumer preferences and adjust their marketing and promotion strategies accordingly. By keeping a pulse on the market, designers can stay ahead of the competition and position themselves as leaders in the industry.
Once you have defined your target audience and analyzed your competition, it’s time to create a brand identity that sets you apart. A strong brand identity is crucial for establishing your presence in the market and attracting potential clients. Start by designing a logo that represents your unique style and values. Ensure that your brand elements, such as color palette and typography, are consistent across all platforms. Additionally, make sure your website is mobile-friendly to cater to the increasing number of users accessing the internet through their smartphones. This will enhance user experience and make it easier for potential clients to navigate your site and view your portfolio. Finally, consider creating a brand style guide that outlines the visual and verbal guidelines for your brand. This will help maintain consistency in all your marketing materials and communication channels.
Once you have created a strong brand identity , the next step in developing a marketing plan is to focus on maximizing online presence . In today’s digital age, having a strong online presence is crucial for freelance graphic designers to reach a wider audience and attract potential clients. This can be achieved through various strategies such as creating a professional website, optimizing social media profiles, and utilizing online advertising platforms. By maximizing online presence , freelance graphic designers can showcase their portfolio, promote their services, and engage with their target audience effectively. Additionally, it is important to regularly analyze and track the effectiveness of online marketing efforts to make necessary adjustments and improvements.
When it comes to marketing and promotion strategies, freelance graphic designers have a wide range of options to choose from. Online channels provide opportunities to reach a global audience through social media platforms, websites, and online advertising. On the other hand, offline channels such as print media, networking events, and word-of-mouth referrals can help establish a local presence and build personal connections. By utilizing a combination of online and offline channels, freelance graphic designers can effectively reach their target audience and promote their services.
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Are you a freelance graphic designer looking to turn your passion into a thriving business? Look no further! In this blog post, we will guide you through the process of writing a business plan for your very own freelance graphic design agency. With a checklist of nine essential steps, you'll be well on your way to success in no time.
But first, let's take a look at some industry statistics to give you a better understanding of the opportunities that lie ahead. The graphic design industry is experiencing tremendous growth, with an estimated market value of $46.57 billion in 2021. This growth is fueled by the increasing demand for creative services in various sectors such as advertising, marketing, and digital media.
Step 1: Conduct market research
Before diving into the world of freelance graphic design, it's crucial to understand the market landscape. Conducting thorough market research will help you identify your target audience, competition, and potential growth opportunities.
Step 2: Define your target audience and niche
Identify who your ideal clients are and what specific design services they require. By honing in on a specific niche, you can differentiate yourself from competitors and cater to a specific market segment.
Step 3: Identify your unique selling proposition
Determine what sets your freelance graphic design agency apart from others. Whether it's your creative approach, quick turnaround times, or exceptional customer service, highlighting your unique selling proposition will help attract clients and differentiate your agency in a crowded market.
Step 4: Determine your pricing and financial projections
Calculating your pricing structure and financial projections is essential for sustaining and growing your business. Consider factors such as your expenses, desired income, and market rates to establish competitive pricing and ensure profitability.
Step 5: Create a branding and marketing strategy
Developing a strong brand identity and marketing strategy will help you establish credibility and attract clients. Consider creating a compelling logo, defining your brand voice, and utilizing various marketing channels to reach your target audience.
Step 6: Outline your services and offerings
Determining the specific services you'll offer is crucial for setting client expectations and delivering quality results. Whether it's logo design, website development, or social media graphics, clearly articulate your services to potential clients.
Step 7: Develop a portfolio of previous work
Showcasing your previous work is vital for gaining the trust and confidence of potential clients. Build an impressive portfolio that highlights your skills, creativity, and versatility as a graphic designer.
Step 8: Set up a website and online presence
In today's digital age, having a strong online presence is non-negotiable. Create a professional website that showcases your portfolio, provides contact information, and demonstrates your agency's unique selling points.
Step 9: Secure necessary equipment and software
Invest in the necessary equipment and software to ensure smooth operations and high-quality deliverables. This may include graphic design software, computers, printers, and other tools that align with your agency's specific needs.
Now that you have a comprehensive checklist, it's time to turn your dreams into a reality. By following these nine essential steps, you'll be well-equipped to establish a successful freelance graphic design agency. So, get ready to unleash your creativity, connect with talented designers, and make a name in the design and media industry!
Conducting thorough market research is essential for the success of your freelance graphic design agency. It allows you to gain a deep understanding of the design and media industry, identify potential gaps in the market, and determine your target audience's needs and preferences. Here are some important steps to follow:
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Defining your target audience and niche is essential for the success of your freelance graphic design agency. It helps you understand who your ideal clients are and allows you to tailor your services and marketing efforts accordingly. Here are some important steps to take when defining your target audience and niche:
Defining your target audience and niche is an ongoing process that requires constant evaluation and adjustment. By understanding who you want to serve and tailoring your services and marketing efforts accordingly, you can position your freelance graphic design agency for success in the competitive design and media industry.
Identifying your unique selling proposition (USP) is crucial for setting your freelance graphic design agency apart from your competition. Your USP is what makes your agency unique and valuable to potential clients. It showcases what sets you apart and why businesses should choose your agency over others in the market.
To identify your USP, you need to thoroughly understand your target audience and their needs. Research the design and media industry in the US to find out what services are in demand and what gaps exist in the market. This will help you determine what unique value you can offer to your clients.
Here are some important points to consider when identifying your USP:
Setting a clear pricing structure is crucial for the success of your freelance graphic design agency. It not only determines your profitability but also attracts potential clients. To determine your pricing, consider factors such as your experience, level of expertise, the complexity of the project, and the market rates.
Here are some key points to consider:
By carefully determining your pricing and financial projections, you can ensure that your freelance graphic design agency remains competitive, profitable, and sustainable in the long run.
A solid branding and marketing strategy is crucial for the success of your freelance graphic design agency. It sets you apart from competitors and helps attract your target audience. Here are key steps to create an effective branding and marketing strategy:
By creating a strong branding and marketing strategy, you'll position your freelance graphic design agency as a reputable and sought-after choice in the competitive marketplace. Consistency, targeted messaging, and building relationships are the pillars of a successful branding and marketing approach.
When it comes to running a successful freelance graphic design agency, it is essential to have a clear understanding of the services and offerings you will provide to your clients. This not only helps you streamline your operations but also enables you to effectively communicate your value proposition to potential customers.
First and foremost, you need to define the scope of your services. Are you going to focus solely on logo design, or will you also offer branding, website design, social media graphics, and print collateral? By outlining your services, you can provide a comprehensive range of options to your clients and position yourself as a one-stop solution for their design needs.
Next, it is crucial to clearly communicate the benefits and features of each service you offer. For example, if you specialize in logo design, emphasize how your designs can help businesses establish a strong brand identity and create a lasting impression on their target audience.
Additionally, providing a breakdown of your service packages and pricing options is essential. This allows potential clients to understand the different tiers of services you offer and choose the one that best fits their budget and requirements. Be sure to clearly outline what each package includes and any additional options or add-ons available.
As you outline your services and offerings, consider conducting thorough market research to understand the demand for each service in your target industry. This will help you tailor your offerings to meet the specific needs of your target audience and differentiate yourself from competitors.
By outlining your services and offerings in a clear and detailed manner, you can attract clients who are specifically looking for the services you provide. This helps establish your agency as a trusted and reliable source for high-quality graphic design services, ultimately leading to long-term success and client satisfaction.
Having a compelling and diverse portfolio is crucial for showcasing your talent and convincing potential clients of your capabilities as a freelance graphic design agency. A well-curated portfolio not only demonstrates your skills and creativity, but it also serves as a powerful marketing tool that can help you attract and retain clients.
To develop an impressive portfolio, consider the following steps:
Your portfolio should act as a visual representation of your skills, creativity, and ability to meet client objectives. By carefully curating your portfolio and continuously updating it, you can effectively present your expertise and attract potential clients to your freelance graphic design agency.
As a freelance graphic design agency, having a strong online presence is crucial for attracting clients and showcasing your work. Setting up a professional website is the first step towards establishing your online presence. Your website should be visually appealing, user-friendly, and informative, providing potential clients with a clear understanding of your services and capabilities.
To create your website, you have several options. You can either hire a web developer to build a customized website or use website builders like WordPress, Wix, or Squarespace that offer templates and easy-to-use tools. Choose a website builder that aligns with your needs, budget, and technical expertise.
When designing your website, pay attention to the following key elements:
In addition to your website, it's important to establish an active online presence on social media platforms relevant to your target audience. Create business accounts on platforms like Instagram, Facebook, LinkedIn, or Twitter, and regularly share your designs, industry insights, and other engaging content. Engage with your audience by responding to comments, participating in relevant discussions, and connecting with potential clients or industry influencers.
By setting up a professional website and maintaining an active online presence, you will enhance your visibility, credibility, and reach as a freelance graphic design agency, ultimately attracting more clients and growing your business.
As a freelance graphic design agency, it is essential to have the right equipment and software to enable you to deliver high-quality designs and stay competitive in the industry. Here are some important considerations when securing the necessary equipment and software for your business:
By securing the necessary equipment and software, you are setting yourself up for success as a freelance graphic design agency. Remember to periodically reassess your needs and update your equipment and software to stay ahead in the ever-evolving design industry.
In conclusion, creating a solid business plan is essential for the success of a freelance graphic design agency. By following these 9 steps, you can ensure that you have a comprehensive roadmap for starting and running your business. From conducting market research to securing necessary equipment, each step plays a crucial role in setting up a successful agency.
Remember to define your target audience and niche, identify your unique selling proposition, and determine your pricing and financial projections. Additionally, developing a strong branding and marketing strategy, outlining your services, and creating a portfolio of previous work will help attract clients and showcase your skills.
Setting up a website and online presence is crucial for reaching a wider audience, while connecting with talented freelance graphic designers and securing necessary equipment and software will ensure the smooth operation of your agency.
Overall, by carefully planning and executing each of these steps, you can establish a thriving freelance graphic design agency that offers high-quality design services, meets client expectations, and builds a strong reputation within the industry.
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Rhonda is an international speaker and published author. She began as a graphic designer and evolved to brand strategist and business development professional, bringing hundreds of thousands in new business to the various design firms she worked with. She's worked with the biggest global brands such as Kraft and Coca-Cola and been client side too.… Learn more »
Adam Wright is the Content Manager at Millo, in addition to running his own graphic and web design business, Adam Wright Design. When he's not working on his business, you can find him watching hockey or just about any type of racing. Learn more »
What is a freelance business plan, who needs a freelance business plan, benefits of a freelance business plan, now, go make yours.
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A freelance business plan is the ideal way to make quick progress as a freelancer.
Sure, you already feel like you know exactly what you need to do — find more clients, deliver high-quality work within deadlines, send invoices and recover payments. But freelancers who want to grow their business understand the importance of a freelance business plan.
A well thought out and structured freelance business plan helps to craft your strategic and tactical approach, defines tasks and budgets that you can track, and increases your chances of success.
So today, I’ll share my 14-point freelance business plan template along with a guide for creating your ideal freelance business plan.
Let’s dive right in, then we’ll cover some of the basics after. My freelance business plan template for you consists of 14 questions.
Take some time off work when you are working on the freelance business plan for the first time, and try not to take calls until it’s done. You could review your plan every week and this will only take a few minutes. You could also do a monthly review when you enter your revenue and expense figures of the month, but this should not take too long either.
Let’s take a look at the freelance business plan steps below and the guidelines for answering the 14 questions. Download a copy of the template below and follow along as you fill yours in.
We start with the company name – pretty straightforward.
Question 2 is about your purpose , or why you started your company. It may seem that every business starts with profit as a motive, but when you really think about your own motivation you will find a purpose above profit. Did you start your brand design business because you are passionate about helping entrepreneurs create a distinct identity? Or did you start a video content studio to help more brands get the power of video easily?
We now come to your target market . If you are in the B2B market then you should define the profile of organizations that you target as well as the specific roles within those organizations who make decisions to purchase from you. If you have done a user persona exercise, you could describe the personas here. If you’re not sure about who your target audience is, The Magic of Choosing a Target Audience will be helpful here.
The fourth point refers to the geographical areas where you operate.
Next we come to a description of your products or services. Do you work on a project basis – with the scope defined by the client? Or do you have any standard products or packages? What is included in your offer? For example, do you offer freelance video creation as a service, and price depending on the scope of each project? Or have you created some standard packages, such as $350 for a 30 second video, with a 200 word script and incorporating 2 rounds of customer reviews?
The sixth question is about your competitors . You should research before you answer this question because competitors are not always those who provide similar products or services, rather they are those who help users to solve the same problem. This means that your competitors could be from completely different product categories. You will find these insights by speaking to current and potential users.
Question 7 is about your differentiation . If you have not articulated this before, then it’s an excellent outcome of working on your business plan. As you clearly write your differentiation, you will be able to communicate it much more strongly during sales pitches or in your marketing material.
Now we come to the problems that you solve for your users. What were they doing before they started using your products or services? This knowledge helps you to find more users with similar challenges. What’s keeping them up at night? They may not say that it’s graphic design or creative needs, and you need to understand how your work helps them. My course is helpful here.
Question 9 is about the benefits that your product or services deliver. It is extremely useful to articulate this and lends clarity to sales and marketing communications.
Next we come to Marketing . How does your target audience get to know you? Are you doing anything to reach out to potential customers? You can mention meetups, events, social media, advertising, email campaigns, SEO, or anything else that’s working for you, here.
The next question is about your business goals for the next 6 months. I have suggested 3 goals but you can make a longer list if you want. One of your goals could be related to the new business that you want to generate. You may also have the goal of adding a revenue stream. Goals could be related to expansion, for example, launching in new geographies or adding new products. You may have sales or marketing goals such as creating a branding package , or a product to sell online. You may also have operational goals such as implementing a project management tool or better bookkeeping.
In point 12, list the weekly milestones that you must complete in order to achieve your goals. You should review this every week, and refine as needed.
Question 13 is to define your monthly revenue targets . I have said 3 months, but you can set targets for a longer-term if you want. This is a good time to consider, are you charging enough to reach your goals? If you charge $1,000 for a logo, how many logos do you need to do to meet your revenue goal?
Question 14 asks you to put down your budget for expenses . This helps you to be more conscious of how you are spending, and when you think about revenue targets and expenses together, you can manage your profitability better. It’s all about profitability. If your expenses are higher than your sales, you’ve got a problem!
Let’s back track for a quick minute. A freelance business plan is a document that lists your business objectives, targets, milestones, timelines, and budgets. Think of it as a roadmap that provides direction to your efforts, shows you the landmarks along your route and helps you avoid roadblocks.
Every business needs a business plan but most freelancers never get around to creating one. I have worked with many, many creative freelancers, and I know that some of them are aware of what a business plan is, but believe that only large businesses need it, while others are just not fully aware of the advantages of having one.
A freelance business plan is created with the specific requirements of freelancers in mind. I strongly believe that the template of the plan should be simple and should not consume too much of your time when you need to create, update or modify it.
Business plans of shorter timeframes say 3 to 6 months, are usually most suitable for freelancers. The work environment for most freelancers is just too dynamic to be able to plan ahead for the next few years.
I’ll share my preferred template for a freelance business plan here, and take you through the steps. But first, let’s see who needs a freelance business plan and what are the benefits of creating one.
Is a business plan essential for all freelancers? Maybe not, so take a look at the list below and decide whether you need one.
You will benefit from having a business plan if:
A plan may not be important for someone who has a job or another primary source of income and is freelancing as a side gig. But if you depend mainly on your freelance business, then the business plan should be a high priority for you.
If you have the ambition to grow your business, possibly planning to create more bandwidth when you get busy or build a team , then a business plan will help you to achieve that growth.
If you are considering discussing your business with potential mentors, investors or consultants, a business plan is a good starting point.
The time and effort that you invest in creating your business plan will yield a variety of benefits.
The process of listing your goals and the steps that you must take in order to achieve them brings tremendous clarity and a sharper focus to your efforts. You will consciously pursue business relevant to your goals rather than respond to every opportunity that comes your way.
If your working days are a blur of meetings, deliveries, and firefighting, chances are that you don’t have the time to do tasks that are important rather than urgent. Once you list these tasks down as weekly milestones that must be achieved for your goals to be realized, you are much more likely to make time for them. Maybe you need to attend networking events in your vicinity in order to attract talent, or maybe you need to spend time creating marketing collateral. Putting these tasks down in the plan makes it much more likely that they will get done.
Your business plan helps you track whether you are achieving your revenue targets and keeping expenses within control, or in other words, manage your profitability.
When you need to discuss your business with investors, mentors or other external stakeholders, the business plan will inspire confidence in them and show them that you have thought things through.
Although my template is a little longer than some others, I have seen that it works really well for freelancers. It takes some time when you do it for the first time, then regular reviews and updates are pretty quick. I’m confident that you will find this time well worth it, for the direction, focus, and clarity that you gain from your freelance business plan.
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Contributor at millo.co.
Rhonda is an international speaker and published author. She began as a graphic designer and evolved to brand strategist and business development professional, bringing hundreds of thousands in new business to the various design firms she worked with. She's worked with the biggest global brands such as Kraft and Coca-Cola and been client side too. Her Business Accelerator Program teaches freelancers how to spend less time on pitches and close new business more easily.
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Reviewed & edited by Adam Wright , Editor at Millo.
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You’ve decided to start a freelance business and if you think you can just “take it as it comes”, you’re mistaken. The first thing you should do is write a business plan.
Even though business plans might seem tedious to write, they are an important part of starting a business because they provide direction and drive growth.
“It’s a tool for understanding how your business is put together. You can use it to monitor progress, hold yourself accountable, and control the business’s fate,” states an Entrepreneur article , while emphasizing the importance of having a business plan.
Whether you’re creating a business plan for internal purposes or to attract investors, you should consider using visuals to design one that engages readers and inspires action.
Let’s take a look at five visuals you must include in your freelance business plan to communicate better and keep readers invested.
1. Present your target clients with persona guides
When you’re just starting out, it’s common to think you’ll take every client that comes your way. In the process, you end up wasting time on clients you should be avoiding or taking projects that are not your specialty.
The right way to go about it is to define an ideal client. This will help you focus your efforts and attract the right type of clients .
Start with developing detailed personas of your target client. You can consider aspects such as their:
It’s a good idea to present this information visually in the form of a persona guide. This will give you a better understanding of the kind of clients you need to target.
Here’s an example of a persona guide. It paints a clear picture of the ideal client while including all the essential elements to guide your marketing and growth strategies.
2. Differentiate yourself with a SWOT matrix
No business plan is complete without a competitive analysis. After all, how will you differentiate your freelance business if you don’t know who your competitors are?
Take a moment to evaluate the industry, identify your competitors, and assess their strengths and weaknesses.
You can use LinkedIn and freelance marketplaces to find other freelancers in your niche to see the kind of clients they’re working with and what they’re doing right.
It’s a good idea to summarize your findings in a SWOT analysis:
Use a SWOT matrix to present this information and get a clearer picture of where you fit in the competitive landscape.
Here’s an example of a SWOT analysis matrix you can use. It clearly presents the four quadrants and lists the findings in bullet points.
3. Introduce your team with an organizational chart
We can all agree that people make the business which is why you should present your team structure in your freelance business plan.
It doesn’t matter if you have a small team. What’s important is showcasing the different people involved while highlighting their individual responsibilities.
The best way to present this information is by using an organizational chart . Not only does it give a better understanding of the team structure to internal and external parties but it also helps you identify skill gaps as your business expands.
Here’s an example of a simple organizational chart template for businesses with little or no middle management or supervisory roles. One glance at it is enough to understand how the company is structured.
4. Create a roadmap to communicate marketing strategy
Now that you’ve set the foundation for your freelance business , you need to talk about how you plan to market and grow it.
The thing about strategy communication is that it tends to get complicated owing to the number of layers involved. The question is: how do you communicate strategy without overwhelming readers?
A visual tactic you can use is creating a marketing roadmap to explain your long-term marketing strategy. Start by listing down your small business marketing ideas such as creating a website, starting a blog , developing lead magnets, building a social media presence, podcasting , etc.
You can then rank them as per priority, categorize them into different months, and set measurable goals for each quarter. This organized way of working helps you track progress while improving team communication .
Here’s an example of a marketing roadmap. Notice how it mentions the focus areas for every month in a straightforward and visual manner.
5. Outline budget allocation with a flowchart
The good news is that most freelance businesses don’t require much initial capital. However, this doesn’t mean you overlook the financial section of your business plan.
It’s important to create a business budget that takes into account your business’ finances along with the fixed and variable costs you will incur. This helps you streamline finances , manage spends, and work towards meeting your financial goals.
One good way to present budget allocation is by using a flowchart . It lets you break it down into smaller spending categories, making it easier for people to get a quicker overview.
Here’s an example of a flowchart that visualizes the breakdown of a budget. It uses icons to represent every category and make the information easily identifiable:
Every business needs a strong business plan to thrive and sustain.
Considering the amount of complex information that goes into them, using these five visuals will help you design a freelance business plan that is not only pleasing to the eye but is also functional in its communication.
Simki Dutta is a content marketer at Venngage, a free infographic maker and design platform. She writes about all things marketing and communications. Find her on Twitter and LinkedIn.
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Published Jan.30, 2018
Updated Apr.23, 2024
By: Noor Muhammad
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Are you planning to start your own company of graphics designing ? Well, if you are creative and also have the ability to bring your creativity to the table then this is definitely the right business for you.
Graphic designing is probably one of the skills which are needed in nearly every other business. If you are not convinced, just look around you and you will see graphics everywhere. Graphic designing is needed in branding, posters, print advertisement, product packaging, publications (newspapers, books, magazines etc.), handbills, billboards, websites, in short nearly all areas. This business has undoubtedly a lot of market potential and a need for continuously emerging new and innovative minds.
The biggest benefit of starting this business is that it requires the least capital investment as compared to many other businesses. You can start this business in a small office with a small team and a little inventory comprising of laptops, and a few office and stationery products. The second benefit is that this business starts yielding a profit as soon as it is launched and has the least amount of risk associated with it, provided that you are creative and plan your business effectively.
So, before you move on to starting this venture, you will have to prepare a comprehensive graphics design business plans which will establish the basis of your company’s future operations and decisions. If you are wondering how to write one then here we are providing you the business plan for a graphic designing business startup named ‘PixelCo’.
2.1 the business.
PixelCo will be a bonded, insured and licensed graphic design business striving to cultivate relevant and meaningful connections between brands and people by our unparalleled visuals and graphic designing services. PixelCo will be located in the Manhattan borough of the New York City and will be owned by Angela Gori, a world-renowned Graphic Designer. Gori has been associated with some of the world’s biggest graphics designing companies and was Chief Creative Officer for the American Marketing Association, D.C. Chapter for last 6 years. She has worked with about 14 out of top Fortune 100 companies as well as various influential associations, consumer brands, educational institutions and government agencies.
A 200 square feet office has already been acquired on lease in the center of the main commercial district of the downtown Manhattan. The place was formerly used as an office for a small IT firm. Some changes and interior designing woodwork are also required and a contractor has been hired for this purpose.
The success of a startup heavily depends on its staff and management so make sure to plan it before thinking about how to start your own graphic design business . Gori has always been extremely passionate to start a graphic design company of her own even from her college days, that’s she had planned everything beforehand.
The main management body of the company will comprise of sales executives, graphic artists, cartoon and animation specialists, website developers and customer representatives. The team will be led and managed by Gori herself, who is well experienced in fulfilling all business plans for graphic design needs. The staff will be hired one month before the launch of startup and will be trained by Gori.
Our target market is the corporate sector, institutions, and organizations located in Manhattan and other parts of the world because anybody from anywhere can acquire our services through our official website and can pay us via PayPal, Payoneer, or online bank transfer. We will provide all sort of graphic designing business mainly website design, logo design, advertising material design, animations design, etc. We have priced all our services in the similar ranges as of our competitors except for brand logos whose price have been set 20% less so as to encourage sales. For an express delivery of 24 hours, an additional 10% amount will be charged on all of our services.
We aim to become the best graphic designer in the New York City within next five years of our startup. Our main business targets to be achieved as milestones over the course of next three years are as follows:
We can achieve our business targets by following these keys to success:
3.1 company owner.
PixelCo will be owned by Angela Gori, a world-renowned Graphic Designer. After completing her Masters of Art in Graphic Designing from University of Illinois, Chicago, Gori remained associated with some of the world’s biggest graphics designing companies and was Chief Creative Officer for the American Marketing Association, D.C. Chapter for last 6 years. She has also been recognized with the prestigious FOLIO: Top Women in Media award for her achievements as a leader. So far, she has worked with almost 14 out of top Fortune 100 companies as well as various influential associations, consumer brands, educational institutions and government agencies.
Gori pursued her passion by serving in some of the biggest graphic designing companies of the United States but soon she realized that she can establish her name in this industry only by her own setup. That’s when she decided to start graphic design business completely by herself. Now, she will have all the freedom needed to realize even the craziest of her innovative ideas.
Starting a graphic design business is very easy since it doesn’t require as much inventory as needed in other businesses. Gori has planned everything about her business including the required personnel and inventory. The company will procure following things for the startup.
The financial experts have forecasted following costs for expenses, assets, investment, and bank loans for the business plan .
The detailed start-up requirements, start-up funding, start-up expenses, total assets, total funding required, total liabilities, total planned investment, total capital and liabilities as forecasted by experts, is given below:
Legal | $75,500 |
Consultants | $0 |
Insurance | $62,750 |
Rent | $22,500 |
Research and Development | $42,750 |
Expensed Equipment | $42,750 |
Signs | $1,250 |
TOTAL START-UP EXPENSES | $247,500 |
Start-up Assets | $0 |
Cash Required | $322,500 |
Start-up Inventory | $52,625 |
Other Current Assets | $222,500 |
Long-term Assets | $125,000 |
TOTAL ASSETS | $121,875 |
Total Requirements | $245,000 |
$0 | |
START-UP FUNDING | $273,125 |
Start-up Expenses to Fund | $121,875 |
Start-up Assets to Fund | $195,000 |
TOTAL FUNDING REQUIRED | $0 |
Assets | $203,125 |
Non-cash Assets from Start-up | $118,750 |
Cash Requirements from Start-up | $0 |
Additional Cash Raised | $118,750 |
Cash Balance on Starting Date | $121,875 |
TOTAL ASSETS | $0 |
Liabilities and Capital | $0 |
Liabilities | $0 |
Current Borrowing | $0 |
Long-term Liabilities | $0 |
Accounts Payable (Outstanding Bills) | $0 |
Other Current Liabilities (interest-free) | $0 |
TOTAL LIABILITIES | $0 |
Capital | $0 |
Planned Investment | $0 |
Investor 1 | $312,500 |
Investor 2 | $0 |
Other | $0 |
Additional Investment Requirement | $0 |
TOTAL PLANNED INVESTMENT | $695,000 |
Loss at Start-up (Start-up Expenses) | $313,125 |
TOTAL CAPITAL | $221,875 |
TOTAL CAPITAL AND LIABILITIES | $221,875 |
Total Funding | $265,000 |
PixelCo will mainly provide visual communication and graphic designing services to small startups as well as established companies. We want to compete with all leading graphic design businesses in the United States, which is why we have formed a quality assurance team that will ensure that all of our services meet our customers’ expectations. Our products and services are listed below:
Our services can either be acquired by visiting our office in downtown Manhattan or by our official website.
Customers can contact us online where they will be assigned to one of our representatives who will record the customer order in detail. Customers can also pay us via PayPal, Payoneer, or online bank transfer.
The most important component of an effective graphic design business plans is its accurate marketing analysis that’s why Gori acquired the services of marketing experts to help her through this phase. It is only after this stage that a good graphic design business plans could have been developed. After identifying the trends of graphic design market in the New York City, the marketing experts and analysts also helped her to select the best site for establishing the main office of the company.
The success or failure of a business totally depends upon its marketing strategy which can only be developed on the basis of accurate marketing analysis. There are four main steps to carry out an accurate graphic design marketing analysis which are to identify the current market trends, identify your target audience and potential customers, set out the business targets to achieve, and finally set the prices of your products and services. Marketing analysis is extremely important because the planning of many subsequent components depends on it and it also forms the basis of the business strategy of marketing for graphic designers or graphic designing companies. Therefore, it must be considered before developing the planned business model graphic .
Graphic design is non-verbal or visual communication. Anything that cannot be done verbally but needs to be communicated must be put into some form of design so as to send the message across. If you look around you will find yourself surrounded by graphics, the picture on your coffee mug, the magazine cover, the pack of gum on your desk, and even the typeface in a TV ad are all examples of graphic design business plans.
That’s why graphic design industry is one of the biggest and the fastest growing industries in the world. As of 2017, there were more than 335,000 graphic design companies in the world including small and large companies as well as individual graphic design freelancers. The annual revenue earned by these businesses was over $62 Billion. Moreover, this industry is one of the few industries which have seen a constant increase in revenue along with the increase in business locations with time. Similarly, graphic designing is one of the popular businesses in the United States. According to the US Bureau of Labor, the graphic design industry employed more than 280,000 people in the US as of 2008 including web designers and other print designers as well.
This growth is attributed to the increase in other businesses in the United States since all businesses require graphic design services to appear professionally to the public. Graphic designing services are required by every business for its advertisement, promotion, and marketing and as other business increases, the market for graphic design business plans also increases. After identifying these market trends, it is clearly evident that the graphic design business is always blooming and can be immensely profitable provided that you plan your business successfully.
Our target market is the corporate sector located in the Central Business District of the Manhattan which provides many opportunities to us. Manhattan houses more than 300,000 businesses as of 2014, including local, national and multinational businesses. On average, these businesses make millions of dollars every year and can easily spend extravagantly on their graphic designing needs for the sake of promoting their brands.
In order to develop a good marketing strategy, it is crucial to analyze the market segmentation. A successful and efficient marketing strategy can only be developed after we completely know our potential customers. Our experts have identified the following type of target audience which can become our future consumers:
The detailed marketing segmentation of our target audience is as follows:
The biggest consumer of our services will be the corporate sector located in the Downtown Manhattan and in various parts of the world. There are hundreds of local, national and multinational businesses and companies located within 15 km radius of our office including product manufacturers and distributors, real estate owners, developers, and contractors, research and development companies, banks and insurance companies, hotels, restaurants and food companies, IT and software development firms, branding and advertising agencies.
These companies and businesses require the services of graphic designers for fulfilling their visual communicative needs such as to create/update their brand logos and create/update the graphics on their websites or social media pages. These companies need graphic designers for developing an instant connection between their target audience and their products/services, and also for producing visual aids and informative images (e.g. menu for a restaurant, infographics) that help the customers in communication and various other purposes. Utilizing an appropriate graphic design can improve every aspect of a business and can positively impact clients, vendors, and employees.
Considering the need of graphic designing for these businesses and their annual average income, our experts have forecasted this target group to contribute the biggest portion of our revenue. Hence our marketing strategy will be specifically tailored to attract this customer group.
Our second target group comprises of various institutions and organizations located in Manhattan including government and public-sector organizations, schools, colleges and universities, political parties, religious and sports organizations, and non-profit organizations. These organizations also need graphic design services for promoting their messages and other purposes.
Our third target group consists of print and digital media companies located in Manhattan. These companies include but are not limited to television studios, video production companies, publication companies (for graphics designing of newspapers, magazines, and books). This group, due to its specific nature, requires a lot of graphic designing work and will thus become the second biggest consumer of our services. The detailed market analysis of our potential customers is given in the following table:
Potential Customers | Growth | CAGR | |||||||
Corporate Sector | 48% | 22,334 | 32,344 | 43,665 | 52,544 | 66,432 | 10.00% | ||
Institutions & Organizations | 18% | 11,433 | 13,344 | 16,553 | 18,745 | 20,545 | 13.43% | ||
Print & Digital Media | 34% | 18,322 | 19,455 | 20,655 | 22,867 | 24,433 | 15.32% | ||
Total | 100% | 52,089 | 65,143 | 80,873 | 94,156 | 111,410 | 9.54% |
Our target is to balance the initial cost of startup within the first year of our launch and to become the best graphic designer of the New York City within next five years of our startup.
Millie, thanks for all your excellent job, and timely provided BP. Would definitely recommend you and your team!
Product and service pricing is one of the most important factors in deciding the strategy for an event planning business. After considering the market demands, we have priced all our services in the similar ranges as of our competitors except for brand logos whose price have been set 20% less so as to encourage sales. The reason behind our pricing policy is to achieve the minimum attractive rate of return which would not be possible in case of offering our services at low prices. Various packages are priced according to the delivery time and number of revisions. For an express delivery of 24 hours, an additional 10% amount will be charged on all of our services.
After identifying the graphic designer demographics , market trends, market demand, and the potential customers of the startup, the next step is to define an effective strategy to target graphic design customers. A successful strategy can only be developed after setting specific marketing goals, defining milestones to achieve those goals, carrying out a competitive analysis to know what is missing in your current competitors, and finally develop the strategy for attracting your potential customers.
The important milestones to achieve our marketing as well as business goals are given in the following Gantt Chart.
Complete Business Plan | 2/1/2018 | 5/1/2018 | 100 |
Sign Rental Contract | 3/20/2018 | 3/20/2018 | 0 |
Convert Premises | 4/1/2018 | 4/30/2018 | 40 |
Hire Car Wash Staff | 4/20/2018 | 4/20/2018 | 0 |
Hire Admin Staff | 4/20/2018 | 4/20/2018 | 0 |
Open for Business | 5/1/2018 | 5/1/2018 | 0 |
Distribute Flyers | 4/28/2018 | 5/5/2018 | 12 |
Press Release | 4/29/2018 | 4/29/2018 | 0 |
Follow-up on Press Release | 4/30/2018 | 4/30/2018 | 0 |
The graphic design business plans is undoubtedly one of the most competitive industries of the United States. With the increasing number of graphic design startups and freelancers, the competition is getting stiffer by the day. One has to be highly creative and come up with innovative designs and concepts so as to survive and grow in this industry. Our competitive advantage lies in the power and dedication of our team. We have a team of creative and highly proficient graphic designers, a team with excellent qualifications and experience various niche areas in the graphic design industry. Our second biggest competitive advantage will be the leadership of Gori since she is a world-renowned graphic designer and has worked with 14 out of top Fortune 100 companies.
After carrying out a detailed analysis, our experts came up with the following brilliant ideas to advertise and sell ourselves.
Considering the quality of our services and our exceptional marketing strategy, our sales pattern is expected to increase with years. By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the column charts.
The detailed information about sales forecast, total unit sales, total sales is given in the following table:
Unit Sales | Year 3 | ||
Website design & graphics | 187,330 | 260,320 | 258,240 |
Print media design & graphics | 802,370 | 815,430 | 823,540 |
Advertising & corporate branding | 539,320 | 770230 | 1,002,310 |
Logo design & visual identity services | 265,450 | 322,390 | 393,320 |
Animations & cartoons | 1,435,320 | 1,250,430 | 1,762,450 |
TOTAL UNIT SALES | |||
Unit Prices | Year 1 | Year 2 | Year 3 |
Website design & graphics | $140.00 | $150.00 | $160.00 |
Print media design & graphics | $600.00 | $800.00 | $1,000.00 |
Advertising & corporate branding | $700.00 | $800.00 | $900.00 |
Logo design & visual identity services | $650.00 | $750.00 | $850.00 |
Animations & cartoons | $140.00 | $120.00 | $100.00 |
Sales | |||
Website design & graphics | $214,800 | $274,000 | $333,200 |
Print media design & graphics | $120,050 | $194,500 | $268,500 |
Advertising & corporate branding | $50,110 | $71,600 | $93,000 |
Logo design & visual identity services | $139,350 | $194,600 | $249,850 |
Animations & cartoons | $62,350 | $72,300 | $82,250 |
TOTAL SALES | |||
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Website design & graphics | $0.70 | $0.80 | $0.90 |
Print media design & graphics | $0.40 | $0.45 | $0.50 |
Advertising & corporate branding | $0.30 | $0.35 | $0.40 |
Logo design & visual identity services | $3.00 | $3.50 | $4.00 |
Animations & cartoons | $0.70 | $0.75 | $0.80 |
Direct Cost of Sales | |||
Website design & graphics | $98,300 | $183,000 | $267,700 |
Print media design & graphics | $66,600 | $119,900 | $173,200 |
Advertising & corporate branding | $17,900 | $35,000 | $52,100 |
Logo design & visual identity services | $19,400 | $67,600 | $115,800 |
Animations & cartoons | $27,700 | $69,200 | $110,700 |
Subtotal Direct Cost of Sales | $294,100 | $699,400 | $1,104,700 |
With the advent of the internet, it has become very easy for a graphic design company to work for those clients who are located in any other part of the world. That’s why most of the graphic design companies located in the United States have their biggest clients in other countries of the world. This trend is somewhat unique to the graphic design industry and is probably one of the reasons for its rapid growth and expansion. Even any of you can start your own graphic design business either through a freelancing website or by creating your own website.
The international graphic design business is only possible through a well-developed website. A website is just like a digital platform where the clients and service providers can interact, make contracts and even send/receive payments. In addition to that, it is an established fact that a well-ranked website on Google directly or indirectly leads to increased sales. That’s why it is very important to develop an attractive website for a graphic designing business plans.
Gori has a team of website developers, led by Anna Rick, who would be responsible for developing and maintaining the official website of PixelCo. Anna would also ensure that our website remains on the first page of Google because you don’t exist if you are not ranked on the first page of Google. Since this task will be done by our team so no additional cost will be incurred in the startup.
Personnel plan, like all other plans, is an important component of effective d esign business plans so it must be planned before you even think about how to market your graphic design business . Its importance is due to the fact that success of any business significantly depends upon its employees. It is never easy to estimate the number and type of staff needed for a company before it is even launched therefore it is advisable to seek the help of HR experts to get through this phase. Gori acquired the services of experts to help her develop the following personnel plan for her company.
Gori will act as the General Manager of the company and will initially hire following people before she moves to start a graphic design business :
We will ensure that only qualified, creative, hardworking, customer-centric are hired and they are always ready to work in order to help us build a prosperous business benefitting all stakeholders (owner, workforce as well as customers). To ensure the best quality service, all employees will be selected through vigorous testing and will be trained for a month before starting their jobs.
The following table shows the data about employees and their salaries for next three years. The salaries of the employees for the second and third year are estimated by our experts on the basis of our forecasted expansion. The salaries will show a deviation if the company expands more or less than the forecasted growth rate.
Accountant | $85,000 | $95,000 | $105,000 |
Sales Executives | $85,000 | $92,000 | $109,000 |
Graphic Artists | $166,000 | $173,000 | $180,000 |
Cartoon and Animation Specialists | $35,000 | $42,000 | $59,000 |
Website Developers | $60,000 | $63,300 | $70,000 |
Customer Representatives | $63,300 | $70,000 | $76,700 |
Front Desk Officer | $20,000 | $23,300 | $30,000 |
Security Officer | $40,000 | $45,000 | $52,000 |
Total Salaries | $429,300 | $463,600 | $524,700 |
After deciding the strategy and personnel plan of the company, the next step is to develop a detailed map about the financial projections covering all aspects of the company. Just like the planning of other aspects, you must prepare a financial plan before you start thinking about how to start graphic design business . The financial plan should craft a detailed map about the cost of startup, inventory, payroll, equipment, rent, utilities and how these costs will be covered by the earned profits. So, before starting a graphic design business , make sure to carry out a detailed profit and loss analysis. The company financial plan outlines the development of the company over the next three years and is specifically developed to achieve both the company’s short-term and long-term objectives.
The company’s financial projections are forecasted on the basis of following assumptions. These assumptions are quite conservative and are also expected to show deviation but to a limited level such that the company’s major financial strategy will not be affected.
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 11.00% | 12.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 26.42% | 27.76% | 28.12% |
Other | 0 | 0 | 0 |
The following graph shows the company’s Brake-even Analysis.
The following table shows the company’s Brake-even Analysis.
Monthly Units Break-even | 5530 |
Monthly Revenue Break-even | $159,740 |
Assumptions: | |
Average Per-Unit Revenue | $260.87 |
Average Per-Unit Variable Cost | $0.89 |
Estimated Monthly Fixed Cost | $196,410 |
The following charts show the company’s expected Profit and Loss situation on the monthly and yearly basis.
Cash Received | |||
Cash from Operations | |||
Cash Sales | $40,124 | $45,046 | $50,068 |
Cash from Receivables | $7,023 | $8,610 | $9,297 |
SUBTOTAL CASH FROM OPERATIONS | |||
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
SUBTOTAL CASH RECEIVED | |||
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $21,647 | $24,204 | $26,951 |
Bill Payments | $13,539 | $15,385 | $170,631 |
SUBTOTAL SPENT ON OPERATIONS | |||
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
SUBTOTAL CASH SPENT | |||
Net Cash Flow | $11,551 | $13,167 | $15,683 |
Cash Balance | $21,823 | $22,381 | $28,239 |
The following graph shows the monthly profit, as forecasted by the company’s financial experts.
The following graph shows the yearly profit, as forecasted by the company’s financial experts.
The following graph shows the monthly gross margin, as forecasted by the company’s financial experts.
The following graph shows the yearly gross margin, as forecasted by the company’s financial experts.
The following table shows detailed information about profit and loss, and total cost of sales.
Sales | $309,069 | $385,934 | $462,799 |
Direct Cost of Sales | $15,100 | $19,153 | $23,206 |
Other | $0 | $0 | $0 |
TOTAL COST OF SALES | |||
Gross Margin | $293,969 | $366,781 | $439,593 |
Gross Margin % | 94.98% | 94.72% | 94.46% |
Expenses | |||
Payroll | $138,036 | $162,898 | $187,760 |
Sales and Marketing and Other Expenses | $1,850 | $2,000 | $2,150 |
Depreciation | $2,070 | $2,070 | $2,070 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $4,000 | $4,250 | $4,500 |
Insurance | $1,800 | $1,800 | $1,800 |
Rent | $6,500 | $7,000 | $7,500 |
Payroll Taxes | $34,510 | $40,726 | $46,942 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $188,766 | $220,744 | $252,722 |
Profit Before Interest and Taxes | $105,205 | $146,040 | $186,875 |
EBITDA | $107,275 | $148,110 | $188,945 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $26,838 | $37,315 | $47,792 |
Net Profit | $78,367 | $108,725 | $139,083 |
Net Profit/Sales | 30.00% | 39.32% | 48.64% |
The following column diagram shows the projected cash flow.
The following table shows detailed data about pro forma cash flow, subtotal cash from operations, subtotal cash received, sub-total spent on operations, subtotal cash spent. The following projected balance sheet shows data about total current assets, total long-term assets, total assets, subtotal current liabilities, total liabilities, total capital, total liabilities and capital.
Assets | |||
Current Assets | |||
Cash | $184,666 | $218,525 | $252,384 |
Accounts Receivable | $12,613 | $14,493 | $16,373 |
Inventory | $2,980 | $3,450 | $3,920 |
Other Current Assets | $1,000 | $1,000 | $1,000 |
TOTAL CURRENT ASSETS | |||
Long-term Assets | |||
Long-term Assets | $10,000 | $10,000 | $10,000 |
Accumulated Depreciation | $12,420 | $14,490 | $16,560 |
TOTAL LONG-TERM ASSETS | |||
TOTAL ASSETS | |||
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $9,482 | $10,792 | $12,102 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
SUBTOTAL CURRENT LIABILITIES | |||
Long-term Liabilities | $0 | $0 | $0 |
TOTAL LIABILITIES | |||
Paid-in Capital | $30,000 | $30,000 | $30,000 |
Retained Earnings | $48,651 | $72,636 | $96,621 |
Earnings | $100,709 | $119,555 | $138,401 |
TOTAL CAPITAL | |||
TOTAL LIABILITIES AND CAPITAL | |||
Net Worth | $182,060 | $226,240 | $270,420 |
The following table shows data about business ratios, ratio analysis, total assets, net worth.
Sales Growth | 4.35% | 30.82% | 63.29% | 4.00% |
Percent of Total Assets | ||||
Accounts Receivable | 5.61% | 4.71% | 3.81% | 9.70% |
Inventory | 1.85% | 1.82% | 1.79% | 9.80% |
Other Current Assets | 1.75% | 2.02% | 2.29% | 27.40% |
Total Current Assets | 138.53% | 150.99% | 163.45% | 54.60% |
Long-term Assets | -9.47% | -21.01% | -32.55% | 58.40% |
TOTAL ASSETS | ||||
Current Liabilities | 4.68% | 3.04% | 2.76% | 27.30% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 25.80% |
Total Liabilities | 4.68% | 3.04% | 2.76% | 54.10% |
NET WORTH | ||||
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 94.18% | 93.85% | 93.52% | 0.00% |
Selling, General & Administrative Expenses | 74.29% | 71.83% | 69.37% | 65.20% |
Advertising Expenses | 2.06% | 1.11% | 0.28% | 1.40% |
Profit Before Interest and Taxes | 26.47% | 29.30% | 32.13% | 2.86% |
Main Ratios | ||||
Current | 25.86 | 29.39 | 32.92 | 1.63 |
Quick | 25.4 | 28.88 | 32.36 | 0.84 |
Total Debt to Total Assets | 2.68% | 1.04% | 0.76% | 67.10% |
Pre-tax Return on Net Worth | 66.83% | 71.26% | 75.69% | 4.40% |
Pre-tax Return on Assets | 64.88% | 69.75% | 74.62% | 9.00% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 19.20% | 21.16% | 23.12% | N.A. |
Return on Equity | 47.79% | 50.53% | 53.27% | N.A. |
Activity Ratios | ||||
Accounts Receivable Turnover | 4.56 | 4.56 | 4.56 | N.A. |
Collection Days | 92 | 99 | 106 | N.A. |
Inventory Turnover | 19.7 | 22.55 | 25.4 | N.A. |
Accounts Payable Turnover | 14.17 | 14.67 | 15.17 | N.A. |
Payment Days | 27 | 27 | 27 | N.A. |
Total Asset Turnover | 1.84 | 1.55 | 1.26 | N.A. |
Debt Ratios | ||||
Debt to Net Worth | 0 | -0.02 | -0.04 | N.A. |
Current Liab. to Liab. | 1 | 1 | 1 | N.A. |
Liquidity Ratios | ||||
Net Working Capital | $120,943 | $140,664 | $160,385 | N.A. |
Interest Coverage | 0 | 0 | 0 | N.A. |
Additional Ratios | ||||
Assets to Sales | 0.45 | 0.48 | 0.51 | N.A. |
Current Debt/Total Assets | 4% | 3% | 2% | N.A. |
Acid Test | 23.66 | 27.01 | 30.36 | N.A. |
Sales/Net Worth | 1.68 | 1.29 | 0.9 | N.A. |
Dividend Payout | 0 | 0 | 0 | N.A. |
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Use these marketing strategies to grow your graphic design business, generate leads, and get new graphic design clients.
Renee Fleck
Written by Renee Fleck
Published on Sep 22, 2021
Last updated Mar 11, 2024
As a freelance designer, marketing can feel like a daunting task. There are so many options out there, and so many different approaches.
Do you need to spend hundreds or thousands of dollars on ads to get results? Do you need an Instagram account with 10,000 followers before you land a solid freelance graphic design job ? What if you just don’t feel like you have any time for marketing?
But for the self-employed creative, marketing doesn’t have to be complicated, and doesn’t have to be time-consuming. Start slow: pick one or two strategies to try out and spend an hour or two each week working on them. Keep trying different things until you find a strategy that both works for you and that you don’t hate!
When much of your work revolves around creating or reinforcing brands for your clients, it can be easy to overlook your own brand. But designers and other freelance creatives who have a strong, consistent brand will find it easier to attract customers.
You might think of “brand” as purely the visual representation of a company. But there’s more to it than that. The visual representation reinforces the brand, but the brand itself is the promise that a company makes to its customers. It’s also largely dependent on people’s perception of the company and the company’s reputation.
“Everything you say, do, and post should reinforce the impression you want your clients and customers to have.”
This is why everything you do has an impact on your branding, from your logo to the random images you post on Instagram at 3 am. As a creative entrepreneur, you need to make sure that everything you say, do, and post reinforces the impression you want your clients and customers to have.
Branding, at its core, creates trust between you and your potential clients. It gives them a sense of what you stand for and what you can do for them. This is incredibly valuable in attracting the right kinds of clients, the ones who have similar values and goals.
Pro Tip: Dribbble Pro Business lets you showcase your personal brand, introduce yourself to clients, and win new opportunities with Pitch —your own personalized video that lives on your Dribbble profile.
Networking often gets a bad rap. True networking—online or in-person—is about building relationships. Don’t approach networking with the idea of finding out what you can get from someone. Instead, approach it as building a mutually beneficial relationship.
When I’m meeting new people, my first goal is to get to know them. Not to pitch myself, not to find out what they can do for me (or what I can do for them), and not to just add them to my contacts list. People can tell when you’re only talking to them to pitch them something. But if you listen to what they’re saying and ask them relevant questions, they’ll remember you more than if you just tell them what you do for a living.
“Being able to build connections between other people improves your reputation.”
Keep those connections and conversations in mind going forward. You may meet someone who isn’t a good fit for your services, but maybe they’d be a perfect fit for someone you know. Being able to build connections between other people improves your reputation. And those people you connect are more likely to refer people they know to you in the future.
Look for ways you can set your work apart from other creatives you’re in competition with. This could be in the quality of your work itself, or it could be through other things: your customer service, how fun you are to work with, or your project management skills.
Making your actual marketing better than your competition is also a strong strategy. What are your competitors doing? Are they just posting self-promotional content on social media or running boring search ads? How can you serve your customers better through your marketing?
Answer those questions and you’ll have the basis for a solid marketing plan.
I’ve talked a lot about the basis for creating a solid marketing plan, but you’re probably interested more in the specific tactics you should use to market your freelance design services.
The most obvious place to start is with a strong portfolio. If you don’t have a solid body of work to show prospective clients, you’ll be fighting an uphill battle. If your portfolio isn’t the best it can be, take some time to work on that before you start actively marketing.
One of the best ways to get work is through creating content. It can be tempting to write blog posts or record videos and just post them on your own website. But that’s not the best way to start out unless you already have a large following.
Instead, look for established websites that accept freelance content. One of the best ways to find the right websites for this kind of strategy is to search for the kinds of terms your clients might use when looking for the kind of work you do, and see which sites come up that accept articles from people outside their own staff (look for “submit” or “contributor” links, often hidden in a site’s footer).
“One of the best ways to get work is through creating content.”
You don’t have to write specifically for clients, as strange as that may sound. Just establish yourself as an authority on the subject. I’ve written content for other designers that have landed me freelance design projects from people with no design background—just because they saw an article I wrote about color theory or brand design or design for nonprofits. Just make sure whatever site you’re writing for allows you to include a link to your social media profiles or website in your byline.
Posting regularly to social media is a good way to market virtually any creative business. Because design is a visual medium, sites that prioritize image posts tend to work best when looking for clients.
Dribbble, Instagram, and Pinterest are some of the best platforms for designers to utilize in their marketing. With a Dribbble Pro account, your work is discoverable by millions of people every month and you get access to an exclusive Freelance Project board. With Instagram and Pinterest, make sure to set up a business profile so that you can access analytics data about your followers and activity around your content.
Share a mix of your work and more personal images. People want to know the person behind the brand. Yes, they want to see your work and know what you can do, but they also want a sense of whether you’re a person they’d actually want to work with.
Don’t overlook the importance of using hashtags and keywords in your social posts. This is the best way to expand your reach beyond the followers you already have.
Running search ads for key topics your ideal clients might search for can be an economical way to get more leads. The same goes for social media advertising. It expands your reach beyond your organic traffic.
You can start small with ads. I’ve had good results running ads with budgets of less than $50 for a week.
Whether you’re only doing unpaid marketing or you’re running ads, creating some kind of lead magnet is a great way to start conversations with the kinds of clients you want. A lead magent for a designer could include things like a checklist for design elements your brand needs, a guide to planning a redesign, or even a quiz about whether your website needs a revamp.
Lead magnets help you pre-vet customers and collect their email addresses. From there, you can start a conversation with them to see if they might need your products or services.
The best marketing strategies come from a lot of experimentation. Don’t be afraid to try new ideas and new strategies. Constantly look at how others (both your competitors and completely unrelated businesses) are marketing themselves and try similar things if they appeal to you.
Keep in mind that marketing is something that takes some time. Don’t expect instant results from your first ad or your brand new Instagram account. Look at it as a long-term investment and keep trying new things until you find a formula that works.
Ready for some inspiration in your inbox?
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Step 3: Get Online. Part of building your brand is to establish yourself as an authority in all things design, with a specific focus on the type of freelance work you want to bring in. That probably starts with a website as well as social media and portfolio sites. Think of how new clients will look for you.
Establish relationships with other designers, freelancers, and industry professionals to build a strong network and generate referrals. Focus on providing exceptional customer service and building positive relationships with clients to ensure repeat business and ongoing success. 1. Find your first graphic design clients.
If you are planning to start a new graphic design company, the first thing you will need is a business plan. Use our sample graphic design business plan created using Upmetrics business plan software to start writing your business plan in no time.. Before you start writing your business plan for your new graphic design business, spend as much time as you can reading through some examples of ...
5. Build your online presence. Any graphic designer needs to have some kind of online presence. At the very least, you'll need a graphic design portfolio where potential clients can see your work. Most designers, though, will want to have a personal website, design portfolio, and social media presence.
Here is a free business plan sample for a graphic design services. January 29, 2024. If you're passionate about graphic design and are considering turning your creativity into a career, you've landed on the perfect page. In the content that follows, we will present you with a comprehensive business plan outline tailored for a graphic design ...
Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their graphic design businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a graphic design business plan template step ...
Published on Aug 06, 2021. Last updated Mar 11, 2024. Find Top Designers & Creative Professionals on Dribbble. We are where designers gain inspiration, feedback, community, and jobs. Your best resource to discover and connect with designers worldwide.
ClickUp's Business Plan Template for Graphic Designers provides a comprehensive framework to help you outline and organize your business strategy in one place. Here are the main elements of this template: Custom Statuses: Keep track of your progress with four different statuses: Complete, In Progress, Needs Revision, and To Do.
ClickUp's Business Plan Template for Graphic Designers is the perfect tool to help freelance graphic designers or graphic design agencies stay organized and focused on their business goals. Here are the main elements of this template: Custom Statuses: Keep track of your progress with statuses such as Complete, In Progress, Needs Revision, and ...
The Metolius Agency provides graphic design and visual communication services to established, primarily Eugene-based, companies. Some of the services offered are corporate identity, marquees, logos, branding, and packaging. The pricing of the projects are typically estimated as a project-based cost. The project cost will be estimated by the ...
October 11, 2023. Freelance Graphic Design: An Introduction. Working independently as a graphic designer, offering design services to customers on a by-project basis is known as freelance graphic design. Freelance graphic designers have become more in demand in recent years due to the growing gig economy and technological advances.
Step 2: Create Your Website for Your Freelance Design Business. You'll want to get your website up and make sure it's always available to attract your potential clients. In the very beginning, just set a page up with a few portfolio pieces and contact information. After that, you can spend more time on it.
2. Self-branding is key. Some newly-freelance graphic designers feel that their portfolio doesn't align with the kind of jobs that they're interested in getting. In those cases, it might be tempting to work on free personal projects before even looking for the first job, from book cover ideas to wedding invitations.
1. The Solo Model. This is what most people will think of when they imagine a freelance career — just you on your own, covering all aspects of the business. You are the service provider (the graphic designer) as well as the marketer, the accountant, and the customer service portal. The buck starts and stops with you.
Creative Spark is a freelance graphic design business that offers a comprehensive range of design services including branding, logo design, digital marketing visuals, and print designs. The business is initiated and operated by a seasoned graphic designer with a passion for transforming ideas into compelling visuals. II. Market Research and ...
Starting a freelance graphic design business can be an exciting and rewarding venture, even if you're working on it as a side hustle.To get you up and running, here are 10 essential tips that will help you find success and start gaining clients. From project management software to setting prices to content marketing, this article covers ...
With the right plan, you can establish yourself as a reliable and professional graphic designer, attracting clients and expanding your business. Key components of a business plan. A business plan is a crucial tool for freelance graphic designers to outline their goals, strategies, and financial projections. It serves as a roadmap for success ...
How To Create a Freelance Graphic Design Business Plan: Checklist July 11, 2024 By Henry Sheykin. Freelance Graphic Design Agency Bundle. Financial Model: $169: $169 $99: Business Plan: $59: $59 $39: Pitch Deck: $39: $39 $29: Value Proposition: $15: $15 $9: One-Page Proposal: $25: $25 $15: SWOT Analysis: $15: $15 $9: Business Model: $15: $15 $9 ...
In your freelance business plan, develop a brief description of each service you plan to offer clients. Try to concisely explain what you'll do and outline the process you'll use to execute that service. It would be beneficial to your plan if you also talked about how you'll offer your services to clients.
Step-by-Step Freelance Business Plan. Let's dive right in, then we'll cover some of the basics after. My freelance business plan template for you consists of 14 questions. ... She began as a graphic designer and evolved to brand strategist and business development professional, bringing hundreds of thousands in new business to the various ...
Notice how it mentions the focus areas for every month in a straightforward and visual manner. 5. Outline budget allocation with a flowchart. The good news is that most freelance businesses don't require much initial capital. However, this doesn't mean you overlook the financial section of your business plan.
Download Graphic Design Business Plan Sample in pdf. Professional OGS capital writers specialized also in themes such as cybersecurity business plan, internet business plan, dating website business, online retail store business plan, online store business plan, business plan for a video game company and etc. Illustrative business plan samples.
Written by Renee Fleck. Published on Sep 22, 2021. Last updated Mar 11, 2024. Find Top Designers & Creative Professionals on Dribbble. We are where designers gain inspiration, feedback, community, and jobs. Your best resource to discover and connect with designers worldwide.
A concise freelance graphic design resume is the best approach to gaining new clients and career opportunities. Keep your resume at two pages or less for the best results. The ideal resume ...