Freelancing is great.
Not only do you have freedom, you have control of your career.
You can pick and choose the clients you want to work with.
You don’t have to worry about booking leave.
There are no limits to the number of sick days you can take if you are ill.
You can work from anywhere.
And most importantly, you can earn a living doing what you love.
According to the Freelancers Union, almost one in three Americans work independently as Freelancers.
This number is only growing.
Freelancers are estimated to make up half the workforce by 2020.
This goes to show how appealing the idea of working as a freelancer is.
However, there are also a few misconceptions of what you need to become a freelancer.
Not a few people believe that to become a freelancer believe all you’ll need to start is a laptop and an internet connection.
For some people this is true as they already have the necessary tools to start.
Other people, however, tend to overlook some pretty important stuff that can affect them.
This article will teach you what things you may need to pay for as a freelance logo designer.
Adobe Creative Cloud subscription
If you’re alright with having just Illustrator on it’s own, without Photoshop or the other apps in the the Creative Cloud suite, it will cost you $19.99 per month annually, or $29.99 monthly.
Adobe Cloud suite (which lets you use all of the Adobe apps) will cost you $49.99.
Adobe Photoshop costs $10.10 per month and comes bundled with Lightroom, which is an image management program.
Most logo designers use only Illustrator.
If you know that becoming a freelance logo designer is what you want to do, I recommend you go with Illustrator’s annual subscription rather than the monthly one.
You may have Illustrator CS6 installed, in which case there won’t be any additional software costs for as CS6 doesn’t require a monthly subscription.
It comes with a 30 day free trial so that you can try it out.
Adobe Illustrator is the industry standard when it comes to logo design.
However, there’s also free software available that you might be more comfortable with.
It’s called Inkscape and is the best free alternative for Illustrator, with new features being added all the time.
One problem with Inkscape though is that a few users have reported that it works slowly on their system.
Your best bet is to try it out for yourself and see how it works for you.
The most important thing is to find out which you prefer working with.
Both have different layouts.
Both have different features.
By testing both programs you’ll be able to decide which one you like over the other.
Laptop or desktop
If you’re reading this, the chances are you already have a suitable laptop or desktop computer.
If you don’t and you’re reading this on your mobile, a good suitable laptop will cost you $200 upwards.
The main thing to look out for is whether it can run Illustrator smoothly.
Luckily, most laptops can.
Illustrator is much less demanding than Photoshop, and so if you already have a laptop that can run Photoshop, it will be fine for freelancing.
Be sure to check first by downloading Illustrator’s 30 day free trial to see first hand if it works smoothly on your system.
Website hosting with your own domain name
The costs of hosting your website and buying your own domain name will vary depending on the service you use.
I recommend using Hostgator because of its affordability.
A Hostgator’ 1 month subscription will cost you $10.95 per month.
If you opt for the 12 months plan it will cost you $5.95 per month.
You also buy a custom domain name directly from Hostgator.
A .com domain will cost you $12.95 a year.
There are also cheaper domain extensions available such as .website, .space, and .site, however I always recommend that you try and get a .com domain because this is what the majority of internet users are used to.
When you actually set up your site, you will most likely be using WordPress which is a free service.
The only things that you may pay for if using WordPress are premium plugins and themes.
You don’t have to use these though and the majority of users won’t need to and can therefore use the service for free.
Many logo designers prefer to sketch their logos on paper before they do anything else.
If this is you, you’ll need to factor in the costs associated with purchasing sketching tools.
What are sketching tools?
Paper, pens, pencils, that sort of stuff.
Luckily, this stuff comes cheap and so you won’t necessarily even have to worry about these costs.
(In the long term these costs will eventually add up, but the spread of these costs makes them extremely affordable.)
Therefore unless you preferto go into extreme detail with your costs or you use the more expensive design tools you can leave this one out and read the next point.
Desk and chair
This is also something you may already have, though if it’s not comfortable for you you may want to upgrade.
You don’t need a five star work space but you do need something you can see yourself doing serious work in.
Focus on comfort, not aesthetics.
Look for a chair with a good backrest.
Look for a desk with space to put your legs underneath and with enough room to accommodate your computer, keyboard, mouse, and design tools.
Even consider a standing desk if you feel it’s right for you.
As a result, you’ll probably work a lot better than before.
You need something you believe you can work well with.
Read on to learn a bit about the tax you’ll need to pay.
Your legal structure will determine the amount of tax you will need to pay.
The most common structure for freelancers is to work as a sole trader.
A sole trader is a self employed person who is the only one involved in the ownership of their business/work.
As a sole trader, then, you’ll need to pay income tax on any profits over your personal allowance.
In the UK, the standard personal allowance is £11,500 – this is the amount of income you don’t have to pay tax on.
If you go above this, you’ll have to pay income tax.
You can view the different tax bands in the UK here.
If you want to view the income tax for your country, type income tax in Google followed by your country.
As a freelancer, I recommend keeping 20% of your profits aside for tax, whatever country you’re in, just to be on the safe side.
There are plenty of resources online that you can find via Google to find out specific info about the tax you will have to pay.
Knowing your costs is important.
Analysing what you’ll have to spend can be your head start into a successful freelance career.
You don’t need to buy the most expensive stuff, just what you work well with.
Efficiency is the key.