Logo Design

Startup Costs: Under $2,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? Yes

THE BRIEF:

Great logos help to build and maintain instant brand recognition and consumer awareness by visually linking the logo to the business, product or service it represents. If you have a creative flair and artistic abilities, you can put them to good use by starting a logo design service.

You will need a computer, digital camera, printer and design software to get started. Outside of these expenditures, however, startup costs can be minimal — as are the ongoing, fixed overheads necessary to operate the business. You can work from home and the majority of jobs can be serviced using e-mail and fax.

ASK THE PROS:

How much money can you make?

Fees for designing logos vary greatly, from as low as $75 to literally thousands. The better-known you become for your incredible design work and logos that perfectly describe what they represent, and the more well-known your customers are, the higher your fees will go.

As a general rule, the Bureau of Labor Statistics estimates that the average graphic designer (which includes log designers) earned $50,370 per year, or $24.21 per hour, in 2018.

What kind of experience do you need to have?

It's important to establish your skill as a designer, of course, but proving yourself adept at understanding a specific business's needs can be just as important. "There are a lot of freelance designers who charge rates ranging from $35 to $150 per hour, based on their experience," Stan Evenson, founder of Evenson Design Group, told Entrepreneur. "But don't hire someone because of their bargain price. Find a designer who's familiar with your field . . . and your competition."

What’s the most important thing to know about this business?

"Remember that a good logo should last at least 10 years," Evenson said. "If you look at the amortization of that cost over a 10-year period, it doesn't seem so bad."

The Market

Market your talents to business owners and professionals, product developers, profit and nonprofit organizations, government agencies, and basically anyone else in need of product, service or personal branding through repetitive use of a logo.

Needed Equipment

Computer, digital camera, printer, and design software.