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This is a show for burnt-out fashion designers (and TDs, PDs, patternmakers and beyond) who want more flexibility while still doing work they love. As a freelance fashion designer, you can build your fashion career on your own terms. Freelancing in fashion is the only way to get freedom in your day (instead of being tied to a desk). Whether you want to earn extra money on the side, fund your fashion brand, or replace your salary, the FDGP podcast will help you get there. Listen in for actionable tips and strategies to kickstart or grow your career as a freelance fashion designer, build your confidence, and create the life you want. Hosted by $100k+ fashion freelancer Sew Heidi, the show features interviews and strategy sessions with successful freelance fashion designers from around the world who've ditched toxic fashion jobs and taken control of their own destinies. This is the only place to get REAL insights from REAL freelancers who have built REAL careers on their own terms. (Formerly the Successful Fashion Freelancer podcast.)
Heidi [00:00:00]:
There is so, so, so much psychology to pricing, and I find it really, really fascinating. Now I'm not gonna get too into the weeds or else this episode will become a movie, but let me share a few things that I think all freelancers in fashion and beyond should consider about their prices. First up, we have hourly. An hourly is a really simple way to set your prices, and it's easier to protect yourself. If you say I'm $75 an hour and the client needs additional work, then you just keep tracking your time, and you get getting keep getting paid for those hours. Alternatively, with project or value based pricing, you can make a lot more money, but it's also a lot easier to mess up because, let's say, you think it's going to take 10 hours and you think you can get it done in all that amount of time, so you bid it accordingly. But then the client needs a bunch of revisions or they adding things on that weren't agreed upon. And this is called scope creep, and it's where the project literally creeps beyond the original scope.
Heidi [00:00:51]:
And the next thing you know, you're doing a ton more work unless you know how to manage and wrangle the client and the project and get things back to the original baseline that you agreed to. So let's talk through a couple scenarios using a tech pack, and we'll use the original example that you want to make $75 an hour. So if you charge hourly and the tech pack takes you 2 hours, you're gonna make a $150. So simple math, if you're gonna charge project rates, you might think, well, a tech pack takes me 2 hours, so the project price should be a $150. Not so fast. Here's the thing. Just because a tech pack only takes you 2 hours, doesn't mean it is only worth $150. This is where value based pricing really comes in, and we wanna think about what is the value of a tech pack to a brand or whatever the project is.
Heidi [00:01:41]:
What is the value of them getting this done? And I would argue that the value of a tech pack is much, much, much more than $150. Maybe it's 300 or 500 or 900 or 1500 or $2,000. Yes. We have freelancers in fast who charge upwards of $2,000 for tech packs, and they're not for super, super complicated outerwear styles. They're for second layers, fairly simple items. Because here's the thing, it is not just about the 2 hours of time that is required to create the tech pack itself. It is knowing what to include in the tech pack, how to spec the garment, how to make sure the factory can read it, how to get a perfect proto the first time. I know that that's not always possible even with a great tech pack, but it is knowing all the nuances that go into a tech pack that that you have built up with time and experience and expertise.
Heidi [00:02:34]:
And that is the value that you're getting compensated for, not the 2 hours of time. There was a story that circulated the Internet, about a homeowner who was frustrated that a plumber had charged $500 to cut a pipe when it only took 5 minutes. Maybe you heard this story. Now there were a lot of people arguing to justify that $500 for 5 minutes. I don't know if this if this was an actual story or someone just made it up to teach a lesson, but it's a really, really important one. So it wasn't the 5 minutes of time that cost the $500. That plumber was getting paid because he knew what pipe to cut and where to cut it. The time was irrelevant.
Heidi [00:03:18]:
And the reality is that just like with a tech pack, just like with knowing which pipe to cut, it can take years and thousands of hours of hard work to build your skills, and you deserve to get compensated for that, not just the time that you put in right at the exact moment. So, yes, when it comes to freelance pricing, hourly can be simpler. And I actually do recommend that most people start with hourly until they do a few projects, and they learn how to manage and wrangle clients. Because like I said, with scope creep, it can really get out of control. Until you get savvy with all the nuances, the client and the project wrangling and managing, it's really, really hard to bid a project accurately. But if you take one thing away from this episode, I want you to take away the fact that it doesn't mean your services are only worth the hours that you put in. If you have already done a few freelance projects, I encourage you to consider value based pricing. It ultimately is simpler for your client, and you can earn more money for the value you bring to the table, not just the time you put in.
Heidi [00:04:26]:
The client doesn't have to know that it only takes 2 hours. They just know that the tech pack cost 350 or $700 or $1500. That is the core of earning more as a freelancer and giving yourself a big old raise. So think about what the value of your services are and see how you can change your pricing in the next project that you bid.