The beginning pricing

the beginning – of the end-

pricing

qualities and skillsTo be successful in your practice as you need to:

- know yourself

- know your work

- know your markets

market understanding - understand your place in the market - where does your work sit? -where can it be seen?

- research your markets, know where you fit

practical issues

pricing work - starting- do you need to keep the work?

- what other people doing the same sort of work earn/charge

- what similarly qualified people in different, but not entirely dissimilar, jobs earn/charge

- your own experience and flair

quoting for a jobif you really want the job you might be willing to put in more hours to get it, or under price for it.

everyone does that sometimes, but do remember you can’t do it all the time.

pricing work - factorsactual

time how much to charge?materialspackagingpostage

recognitioncontext – the market its value to you

pricing work - factorscommission

the cut people takewhat they undertake on your behalf

wholesale – retail %

so

some design pricingColour £50 - £150Repeats £200 - £650Yarn Dyes £70 - £150Original designs £250 - £600Label designs £180 - £400Miini bodies, Presentation boards & Catalogue pages:placing a textile design into a fashion sketchSolid and Monotones £30 per bodyPrints, knits, jacquards, yarn dyes £50 per bodyEmbroidery £45 per bodyComposition for presentation board £20Custom designed "mood boards" £200 - £450

overview - setting up

self-employed creativeportfolio working - roles

- freelance contracts, commissions, part-time and full-time employment, further study and voluntary work.

- maker, book-keeper, PR, photographer, technician, cleaner

essential requirements for starting - confidence in self and work.

- ability to critically evaluate self and work.

- understanding your place in the market.

- know your worth – costing and pricing.

essential requirements for starting - promoting yourself and your work effectively to the right audiences.

- negotiating successfully with professionals and clients.

- applying creativity and problem-solving in different contexts.

self-confidence- know yourself – take stock of your learning and achievements.

- know your work – be able to talk about your work, your background, your interests and yourself with confidence.

critical evaluation- keep up your contacts with fellow artists and engage critically and reflectively in discussion about the work, so that it can move forward.

- try writing about your work and yourself. This is good preparation for compiling promotional material and articulating what the work is about to prospective audiences and clients.

market understanding -keep yourself informed by visiting galleries, shops, trade shows and exhibitions.

- talk to others, use the internet and read widely so that you have an understanding of the context for your work and/or its commercial possibilities.

costing & pricing - keep a record of your personal living expenses - note the costs of all expenses, materials, travel, postage, stationery, etc, and keep receipts for everything - keep a note of time spent on making/producing artwork - find out about costs of buying/leasing essential equipment

costing & pricing - find out about costs of buying/leasing essential equipment - build your own bank of resources and equipment and find out what you can share with others - know what your potential competitors charge for their work or services - find out how to work out costing and pricing.

self-promotion- having researched your market, decide which are the most appropriate ways of promoting yourself to those audiences and potential clients.

- work to professional standards of presentation for yourself and your work - package yourself professionally – write your CV, print your business card and promotional material.

self-promotion- photograph your work and/or use a computer package to create a promotional CD with contact details, biographical information, statement about your practice, images of work.

- transform and organise your portfolio – selecting the best work and mounting it consistently in a clean folio.

negotiation- build your network of contacts, develop support systems and resources.

- develop a professional attitude and show that you are well organised.

- learn about compiling and writing briefs and contracts.

self-employed - responsibilitiesmaintaining confidence finding work building networks promoting yourself managing contracts and commissions costing and pricingbuilding good relationships with clients and other practitioners

self-employed - responsibilitieshaving high professional standards delivering the work on time invoicing for payment protecting your work maintaining your business records running the business on a day-to-day basis.

some practicalities around selling

sales agreement

for every sale there must be an agreed contract between you and your buyer or client.

payment options

PAYE - tax and NI self-employed -Schedule D or Unique Tax CodeCash salesCheques & credit cardsscrutiny - account number, name, signature, expiry date etc

invoiced sales

commissions20-40%agree a schedule of payment issue your invoices against these agreed payment dates

credit

negotiate the payment over a few instalments

30 days

invoices invoice should:- be clearly laid out with your name, business address, telephone, fax number and email

- have a number (eg 'Invoice no: 0001') to act as a sales reference

- give a description of the products or services sold, date of sale or completion and quantity of goods eg number of prints, or number of days worked

invoices invoice should:- the name of your customer - self-employed tax reference number

- company number and registered address if set up as a company

- include a subtotal for VAT if you are VAT registered

terms & conditions - state payment is due 30 days from date of invoice or delivery of goods - other terms and conditions, such as your right to retain the copyright on your designs or artwork, charges for storage on late collection of large pieces or interest on overdue payments. whatever you decide

- keep hard copies

late payment - phone - written reminder - charge interest and debt recovery costs if you are not paid promptly- compensation for administration (local enterprise agencies)- Legal proceedings

toolkits

http://www.business-survival-toolkit.co.uk/

http://www.itool.co.uk/Interactive/artfees/login.php

http://www.designcouncil.org.uk/resources-and-events/Designers/

Guides/

www.payontime.co.ukDownload the Better Payment Practice Guide, advice on charging interest and administration fees for late

payment.

www.unpaidinvoices.comName and shame those who don't pay!

www.courtservice.gov.uk/mcol/Claim your money online.

www.dti.gov.uk/publicationsDepartment of Trade and Industry

T: +44 870 150 2500

ACAS Advisory, Conciliation and Arbitration ServicePublic Enquiries T: +44 20 7396 5100

payment support