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How to Start a Logo Design Business in Nigeria
Many business owners, product developers, government agencies,
small and medium consumer brands, non-profit organisations, and
anyone who is trying to reach their target set of customers use
a custom business logo as their brand identity.
Whether you should generalise as a graphic designer or
specialise in any particular service depends on your interests
and the market you wish to enter. Specialising in logo designing
gives you an edge in marketing your services, finding your
clients, and building your niche.
If you are a professional logo designer and looking to start a
business, here are eight essential steps which will help you.
1. Understand the Logo Design Business
Logo designing comes under the umbrella of graphic design. Brand
strategy, logo design, web design, social media design,
brochures, and posters design, animation, etc., are some of the
graphic design services to explore. Studies show that logo
designing and branding contribute to 20 per cent of the graphic
design market. Therefore, there is a high scope and demand for
custom logo designers. Many new businesses constantly lookout
for professional logo makers and custom logo designers for
creating a logo for their business.
Logos help brands to communicate with their customers. A unique
and simple logo makes brands stick with the customers for a long
time, which creates a recall value to the business.
2. Understand the Market
Once you have decided to start a logo design business, it is
very important to understand the market before strategising and
making a logo design business plan. Do diligent market research
to understand various businesses in the market, competitive
service offerings, the differentiated value provided to the
customers, pricing strategies, and marketing strategies. Once
you get a clear idea of these details, you can start analysing
and identifying your go-to-market strategy.
3. Determine your target market
There are many corporate logo design businesses that cater to
different sets of customers. Having a clear target market is one
of the most important steps. Decide whether you want to start by
providing your services to large and medium corporate businesses
or small local brands. Are you planning to cater to budding
entrepreneurs who are building innovative brands? Define your
clientele, and then you can start making your business and
financial models and marketing plans that will suit your target
clientele.
4. Make a Detailed Business Plan
Once you have done your market research, you will now have a
direction for the type of service offerings, target audience,
and the market you plan to capture. It is crucial to have a
business plan including your primary mission and vision for the
company. Craft out goals and the key achievements which you
envision for the next five years. Make a detailed financial plan
clearly stating the budgets for each function of the business.
Have your unit economics and the metrics ready to help you with
growth and strategy plans.
Make quarter-wise plans and set targets for various functions &
teams accordingly. Also, to start this business, you might need
at least two designers, a concept developer, one sales resource,
and a marketing resource. Have your recruitment plan included in
your logo design business plan. Follow the best practices.
5. Competitive Pricing strategy
You can adopt different pricing strategies for your business
according to the type of target audience and service offerings.
You can start competition-based pricing to attract lines. In the
initial status, try and offer the best deals even if you have to
take a hit. The most important thing is to add value to the
clients despite the charge. Divide your services into categories
and provide the best possible services and deals for the
customers. Decide whether you will charge your clients based on
time or the type of project.
6. Develop a Unique Design Process
Having your design process helps you differentiate yourself in
the market amongst your competitors. This can be your blueprint
that will guide your designs. The process can involve 6-7 steps,
depending on how you design it. For example, you can start with
a design brief, industry research, sketching and
conceptualising, reflecting on your ideas, receiving feedback,
and presenting the final design. Asking the right questions in
your design brief can give you more clarity about your client,
services, and products.
The design process usually brings structure into the system and
ensures the right details are addressed at the right time, which
boosts confidence in your clients and provides them with a
better experience.
7. Digital Marketing Strategy
Marketing is as essential as bread and butter these days. No
matter how your business plans and your service offerings are,
if you are unable to reach your customers, everything might fall
apart. Make sure you have a very diligent marketing plan
specific to your calendar. Follow some of the best practices in
the market segment you are in. Your marketing strategy should
always align with your growth and business strategy. Every
effort should focus on bringing new clients and creating brand
value for your potential customers.
8. Build a Design Portfolio
Build an attractive website for your business where you can
showcase your design portfolio. There are many easy-to-use
website builders to help you. For example, Wix and WordPress are
something you can explore. Graphic design is all about visual
representation. It is imperative to have your portfolio
showcased across channels like Facebook or Instagram to enhance
brand visibility and attract potential customers.
Get our training guide on
how to be a
logo Designer in Nigeria.
This guide will provide an in-depth look at what it means
to be a Logo Design expert, the key roles and responsibilities,
how they get paid, and essential do's and don'ts.
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