How to Calculate Interior Design Fees in Bangladesh?
As an interior designer, setting the fees for the whole interior plan can be totally challenging, and we understand that. You need to be fair with the prices, and at the same time, you have to make proper money out of it!
This is the reason you have to have an accurate idea to balance the impartial fee which you’ll be charging from your clients along with your own profit. Then, how to calculate interior design fees by balancing everything?
Our write-up will exactly lead you to that. Once you finish the reading, you’ll clearly understand the calculation process, different pricing systems and how to set it fairly!
Without further due, let’s evaluate some interior design fees, what say?
How to Calculate Interior Design Fees?
There’re different types of cost estimate you can set. It totally depends on you and your work process. We’ll be talking about the average fees for each design so it’ll be easy for you to understand!
Flat Rate
Well, most of you know about flat rates. It’s a rate that interior designers charges for one complete project. You can use your own direction or method and can decide how much you want to charge.
It’ll highly depend on the scope of your project, of course. The bigger your project will be, the more you need to charge from your client.
These types of fees are more expensive than other ones. The cost range starts from BDT 5,00,000-20,00,000 on average. It can always go up too with the additional charges. You can charge extra if the project is running overtime or if you need to add more things for your clients’ satisfaction!
Therefore, nationally, the flat rate fees are around BDT 12,00,000 or more (just so you know).
Hourly Fees
Now, in this one, you can charge your client on an hourly basis. Every hour you spend on the project will be counted here.
Hourly rates need proper attention to the deadlines of the project. Clients need to manage the deadlines otherwise the charges can be added. Plus, this process adds an extra rate for the amount of time and interior designing (in total), shopping for the materials, etc.
An hourly cost will range from BDT 500-5,000 or more. Mostly this stays as a consultancy fee rather a work. But depending on the project and details this price could go up.
The price is decided mainly by the experience of the designer instead of the project itself; means if you hire a celebrity designer, the cost will be high. On the other hand, if it’s a newbie, the cost will be low!
Fees by Square Foot
Moving on to the square feet fees, these types of rates are calculated according to your project’s floor size. Mainly, where the designer will be working on.
It can be super costly but then again there’ll be no extra charges as you’ll only be working on an exact square foot. Hence, it’s great for single rooms or small homes.
These fees range start from BDT 500-2,000 per square ft.
Percentage Fee
This type of fee is for anyone who is on a tight budget. You can charge from clients who like it to be simple yet professional.
A percentage fee is generally a rate where an interior designer charges a percentage of the total cost of the whole project. On average, the rate stands around 10-20% which is not bad at all. This is mostly supervision and consultancy fee that is applied on the full project price.
Furthermore, the entire project costs include accessories, contractors, building materials and many more. It’s a very good deal for one budget-conscious owner!
If you’re an interior designer you must let the owner select their own materials and contractors so that they can lower their fees. As a designer, you can recommend some though.
Again, if you’re the owner you can try to purchase your accessories on your budget so the designer doesn’t have to buy for you!
Fees with Retail Pricing
As a designer, it’s very important to keep a close eye on the internet and other places so that the materials you’re offering can not be offered by anyone to your client.
Nowadays most designers follow this retail pricing policy. Here you need to maintain that your client must not find the same product you’re offering at a cheaper rate in another place.
Try to come up with more designs and exclusive ones that are super unique. This way, you can set a fair price that no one will ever doubt. And they can also get a special design in return for their money.
Final Words
We hope now you know how to calculate interior design fees, don’t you? This is super simple but you need to be careful about the process and have to handle your client diligently. For more information, contact ‘ Rongin ’anytime!