You may want to also include whether or not you will charge for other project-related expenses such as meals and travel.If your pricing method includes charging an hourly fee for your time, outline what activities will count as billable time in the agreement.Get every project started on the right foot by explaining each part of the agreement to your client in plain terms, particularly the budget and the project timeline, so they are not caught off-guard by unexpected fees or the number of invoices.Designers should use this contract as an opportunity to establish a clear roadmap of expectations with your client.Therefore, logging your collective working hours is crucial to staying in the black, and the more detailed your records, the better you will be able to control the profitability of your business in the future.īefore the Project Begins, Define a Pricing Planīeyond an initial client consultation, best practice for an interior design business dictates that every client project should begin with a contract defining the scope of work, pricing method, and anticipated payment schedule.
Whether or not you charge clients for your time explicitly, your profitability per project will always be tied to the amount of time you and your employees spend on it. Get down to the brass tacks by first determining your market worth on a price-per-hour basis, then develop a pricing strategy to meet that threshold. With a multitude of potential pricing methods to consider, profitability should be your top priority when deciding how your business will collect for its services. Billing is a complicated issue for interior designers.
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