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Consultancy Fees - need some advice

  • 03-10-2014 12:51pm
    #1
    Lesa China
    Registered Users, Registered Users 2 Posts: 2 ✭


    I am about to pitch for a 6 month contract to a large company. I have no idea how to calculate the fee I should propose for this contract. I am a commercial Interior Designer with v broad experience. Any advice or tips would be very helpful - thank you all!


Comments

  • #2
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    No idea on the basis of the info given. Are you qualified? How strong are your quals? What key jobs have you executed as principal or as a project worker? Will the work involve fulltime 9-5 work every day or simply site visits after the initial work? How much is the contract going to cost? Can you base your fee as a percentage of its value? If it is fulltime 9-5 work ascertain the going rate for a fulltime employee with your quals in that role, and multiply it by max 75% to get the six months rate. I'd guess that there are lots of interior designers/architects out there hungry for work so the competition would be intense.


  • #3
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Lesa China wrote: »
    I am about to pitch for a 6 month contract to a large company. I have no idea how to calculate the fee I should propose for this contract. I am a commercial Interior Designer with v broad experience. Any advice or tips would be very helpful - thank you all!

    You should break the contract down into the stages of the design and the different aspects of the contract, just like an architect would.
    For example preliminary designs, mood boards, schematic drawings, fixtures and fittings breakdown, sourcing, and pricing of is stage 1 - and you attach a fee to that based on the estimated hours or work on it, or base it on a square meter price

    Stage 2 - Design Development, this is where you sit down with the owner and make changes, until the point comes where they are happy with the drawings and designs and are willing to sign off on the work.

    Stage 3: Working drawings (break down the amount and detail in the contract) , purchasing of fixtures and fittings

    Stage 4: Installation, supply of fittings etc, project management

    Some of those things you mightn't actually be doing as part of your service, but if you break the contract down in this way, its easy and clear to both come up with a price and for the customer to understand it. It also protects you from issues with getting paid as you get paid for each stage along the line.

    The actual rate you decide to charge is more based around the questions pedro has asked above


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