How to Start a Logo Designing Business
A necessity for every school, business, church and organization is a simple logo. Therefore, embarking upon the logo design business can be financially rewarding. But there are several issues to consider before quitting your day job to go into the logo design industry.
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Instructions
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The Business
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Run your logo design firm out of your home, since it is a relatively simple business. The start-up costs for a small business, even a home-based business, can be astronomical. Save money over time that you can use to fund your business. Before signing any contracts or making any firm plans, consult a CPA or a financial adviser before moving ahead. This might save you a few headaches in the future.
As your company grows, decide whether or not to hire other designers, a bookkeeper and a business manager.
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Protect yourself, now you have a strategy for funding your business. As a small business owner, set up an LLC, a Limited Liability Company. This is a form of protection for the business owner. If the business were to fail, fall into debt or be sued by a client, an LLC protects the owner's personal assets from seizure or foreclosure. The process of forming an LLC varies by state, but in most cases, you need to file the appropriate paperwork with the office of the Secretary of State of your state. This process is simple and usually consumes less than four hours.
The most important document required is the "LLC Articles of Organization." This document officially names your company and lists the proprietor(s), and official contact information. Another important document is the "LLC Operating Agreement," which states the rights and responsibilities of LLC members. Some states require other documentation, so check with your Secretary of State's office for the official procedure for your state.
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Next, find clients. You have to prove to potential clients that your business will serve them better than other, more established logo design firms. Do this is by example. If you have no professional experience with logo design, you need to build a portfolio to show potential clients. Do this by volunteering your services to local churches, youth centers and charities. Most of these organizations cannot afford to hire a professional logo designer, thus you will be building a portfolio while performing a service in your community.
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Once you have built a substantial portfolio, schedule meetings with local business leaders. Begin with small businesses in order to gain some experience with paying clients before moving on to larger, high-profile corporations.
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Keep your prices low in the beginning to set you apart from your competition. A general rule of business is that you should have enough investment capital to operate your business without a profit for several years. During that time, you will gain clients and begin to earn a steady revenue. Over time, begin to raise your prices to more competitive rates, but in the beginning you need to entice your potential clients with low prices.
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