Sometimes I see that people get thrown off by the idea of reimbursable expenses or "reimbursables" which is a little less of a mouthful.
So what is a reimbursable and how does it differ from anything else that you buy for your clients?
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A fee schedule is just a list of client fees that could occur in your business and charge to clients. It is not necessary to have one, but if your pricing structure is complicated and you want to be transparent in pricing this is the way to go. I'm 100% for clear, transparent, and simple pricing.
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As we are about to enter a new year, this is the perfect time to raise your rates. If you feel like it is time to increase your fees or feel that maybe your rates are a little too low the new year is when you'll want to change that.
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At the end of my course, The Golden Blueprint, I do review calls with participants. In the last session of the course I had several review calls every day and I found myself giving the same advice most every call. So what was the question that everyone was asking about? Pricing. Or more specifically, how to make money as an interior designer.
We would talk about how they priced their services and how they charged their clients and ultimately there was one glaring mistake everyone was making in their design business that was costing them valuable income.
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So you want to start an interior design business? When I first started my business, I was pretty broke. I had just moved to another city and was using savings to live on because I didn't have any clients (aka income). I remember my mom sent me a hundred-dollar bill and I was so relieved that I cried. True story.
If you're starting like I did, don't dismay. You can do it. These things are all very important and I truly wish I would have slammed down my credit card and set this all up before I started my business because it would have been easier than the diy hacking that I did for a while.
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One of the ways that I practice radical transparency is by displaying my purchase cost on the client invoice. This separates the cost of the item from the design fees or markup. By doing this you are clear about the cost of the item and your design fees. I don’t think that lumping them together is good for business anymore. This practice is common, but I think it is becoming harder and harder for the lump-sum designers because clients are checking prices and are savvier than they ever have been. I recently read a post on a Facebook about a designer that had a client that was purchasing fine art. The designer had spent dozens of hours searching for the right pieces
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