Pricing and Services at Startup «

MODULE 1: SERVICES + PRICING OVERVIEW -

What services should you offer?

You need to answer a few questions first:

Who are you serving?
Online? In person?
Design only? Full service with procurement?
New build, renovation, decorating?
Plan to have a team, or just you?
Want more small projects or fewer larger ones?
How do YOU like to work?

The Foyr community has other great courses to help you determine your ideal client. Once you know what types of services, we’ll dive into how to price

Some options:

Hourly
Flat fee
Hybrid
Commission based (don’t recommend).

MODULE 2: DESIGN SERVICE OPTIONS -

Full Service
Design Only
E-Design
Designer for a Day
Consultation
Designer on Call
Room Reveal

MODULE 3: CHOOSING YOUR SERVICES -

Choose a service on the basis of what makes the most sense for both how you like to work AND how your ideal clients want to work with you? Choose 3 to start that are the best fit . Think about the Ladder of services - how can a client start at the bottom and move up?

“Simplify to amplify”

MODULE 4: NAMING YOUR SERVICES

Create packages

Tip: Have clear simple names, and also include typical terms (like full-service interior design) in your copy so it’s searchable)

Examples: Marie Forleo’s B-School, DDT’s Money Bootcamp

MODULE 5: PRICING OPTIONS

Just starting out?

Start with hourly and Talk about money early and often
Track an invoice for all your time for the project.
Move to Hybrid or Flat fee ASAP..!!

MODULE 6: ESTIMATING YOUR HOURS

Why do you need to Estimate ?

Simple because No one likes the unexpected! If you don't estimate your hours, you will have unhappy clients.

MODULE 7: CALCULATING YOUR FEE

Types of fees:

Hourly
Flat for e-design
Flat fee by hours
Flat fee by square footage

What’s your hourly rate?

Even if not charging hourly, this number is essential to know if you’re profitable. Track all your hours, even if you’re flat fee! This will help you adjust as you get more projects under your belt.

Use this Flat Fee Calculator to plug in your own numbers : Click here

MODULE 8: WHEN TO COLLECT PAYMENT

Essential to be clear on this up front with your clients

Ideal Payment Schedule :

Hourly: retainer of minimum. Hours to start, then invoiced monthly (should you hold retainer?)
Flat fee: 50% to start project, 50% halfway through design process .
Purchasing: 100% up front

MODULE 9: SHOULD YOU PUT YOUR PRICES ON YOUR WEBSITE?

Lead with price and you become a commodity. Build a relationship and it’s easier to sell them on your value. As you get busier, price for your entry level service (ie. consultation) as reference point.

MODULE 10: COURSE WRAP-UP

The modules wraps the following topics :

What types of interior design services are popular ?
Which services you should offer ?
How to name and position your design packages?
How to calculate your hourly rate?
How - and what! - to charge?

Instructor

Principal designer, Lesley Myrick Art + Design LLC

Hey there - I'm Lesley Myrick. I’ve been in the interior design industry since 2005 and have run Lesley Myrick Art + Design full-time since 2015. I’ve invested well over $60k of my own hard-earned money in education and training. I’ve also invested about a million hours (probably) in real-life work experience, and making a TON of mistakes figuring out how to run a business. Tune in to my courses on Foyr's learn platform, for actionable takeaways and real-life stories of how I built and have been scaling Lesley Myrick Art + Design. Watch the course, let the questions come in, I along with the Foyr community will help you grow your business. I am SUPER EXCITED to help you get unstuck and build the business of your dreams!