As a logo designer, asking clients to pay deposits up-front can save you time and money.
In-fact, requesting deposits before you start projects is one of the most important things you can do.
A deposit, simply put, is a non-refundable payment from the client (usually 50% of the total cost) that is payed to you before you start the work.
Here are three reasons why you should start asking for deposits.
#1: Deposits keep clients invested
Client investment is a huge part of the design process.
An invested client will be much more co-operative and pleasant to work with.
On the other hand, a client who has no investment in your work will be less likely to give you feedback when you provide them with concepts.
A common experience of designers that don’t charge deposits is that if the client doesn’t like the concept, they will cut communication and look for a different designer.
The client in this scenario is likely try and use the same tactic by looking for another designer that doesn’t charge a deposit.
This is the type of client you want to avoid.
#2: Deposits weed out freeloading clients
A bad client is one that want’s something for nothing.
Charging deposits lets you filter out the clients who are just looking around for free concepts and ideas.
If not controlled, these clients can snatch a large chunk of your time.
It’s better to work with one good client than mess around with 10 bad ones.
#3: Deposits make sure you get paid
There are some cases when a project has to be cancelled.
The client may find their business model isn’t as great as they first thought it was.
The client could run into a financial problem which means they have to stop all plans for the foreseeable future.
However, with a deposit you can work knowing that your time won’t be spent in vain.
Charging a deposit is a must if you want to make clients more invested, avoid working with bad clients, and ensure that you always get paid for the time you spend on a project.