Retainer Fee Interior Design - How Much Money Should You Get Up Front?

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  • Опубліковано 22 сер 2024

КОМЕНТАРІ • 32

  • @ClaireJefford
    @ClaireJefford  4 роки тому +1

    GAIN MORE CONFIDENCE, GET ORGANIZED AND NEVER BE OUT OF POCKET FOR DESIGN SERVICES! GET MY 3-in-1 BUNDLE HERE NOW --> clairejefford.com/product/three-in-one-package/
    WANT MY RETAINER AGREEMENT (LOA) ONLY, FIND THAT HERE --> clairejefford.com/product/letter-of-agreement-loa/

  • @kellyclarkdesign7363
    @kellyclarkdesign7363 4 роки тому +4

    Ok, I've watched this two times (that's how much great info is here:)) and I have two questions please: I use a standard one page contract. A while back I purchased your bundle and haven't yet used the LOA, but want to as I love the way it's explained here. Where in this process does my contract come in? Second question: In that LOA meeting are you explaining to the client that the $2500 will get them as far as the plan and presentation, and that there will be an additional $3k to execute? Just curious how that's explained.
    To anyone watching/reading:
    If you're a designer (or want to be) please get on Claire's facebook group---she is a champion of our industry, with advice that will move you light years ahead of going it alone. Invest in her PROCESSES! I have been in this biz and doing fairly well for 17 years---and yet I still find it all SO helpful!

    • @ClaireJefford
      @ClaireJefford  4 роки тому +1

      Hi Kelly and thank you so much for your kind words! I'm thrilled to be able to help in any way that I can for designers to run a more organized and profitable business. Okay, to answer your questions, the LOA comes in at then end of the consult (for the way that I explain I work in the video). That gets a commitment from clients for the first phase of design. A purchasing agreement or more detailed contract is required once they have confirmed that they wish for you to implement the design from your presentation.
      To answer your second question, yes, we have a hybrid model. We bill for the first phase of design services to take the client to the point of presentation. Once they decide to move forward, we request a second retainer with the signed purchasing agreement. This is for implementation and the intent is that it will cover the time we anticipate for design services to see their project through to completion and final reveal.
      I am considering a flat fee though for the new year. We have done enough projects to know approximate timelines for taking a client to the finish line. It's the scope creep and unknown variables that makes that tricky, but as long as we update our contract to address this then it should be fine.
      Does that answer your questions? Cheers again!

    • @kellyclarkdesign7363
      @kellyclarkdesign7363 4 роки тому +1

      @@ClaireJefford Yes! That is perfectly clear now--thank you!
      I use a flat fee for implementation and have for a while now. I find when I include a very specific Scope of Services document along with my one page contract, it becomes a check list of sorts. If something is requested that's not on the scope, it's easy to say "would you like me to add that to the project? That service would add X hours".
      I need to increase my flat fee in the new year, which will be MUCH easier now that I am much more clear and confident of my processes (thanks to you!). I'm psyched to add your LOA to my process now:)
      Thank you, Claire!

    • @ClaireJefford
      @ClaireJefford  4 роки тому

      @@kellyclarkdesign7363 so great to hear all of this Kelly! 👍

  • @MsRNdiva
    @MsRNdiva 4 роки тому +3

    Thanks for all of your info. I am new to the design business. I have designed friends homes for free many times and now I want to do this as an entrepreneur. Thanks again.

    • @ClaireJefford
      @ClaireJefford  4 роки тому +1

      Yes, many new business owners typically start a business doing work either in their own home and for family or friends. I believe putting in some time for free in the beginning while finding our way is expected and nothing to feel bad about. We all need to start somewhere and make our way to the top, enjoying the journey, learning with every experience as we go. But soon you realize that in running a business there are expenses. You also no doubt have mouths to feed and bills to pay, which means getting paid for the incredibly valuable service you offer and not wasting time chasing money. Cheers for watching!

  • @gloriarobinson6820
    @gloriarobinson6820 3 роки тому +2

    New to this so can someone explain what is the retainer fee used for ? As well as is the money you charge the client seperate fron the retainer fee ? Thanks in advance

  • @SheriBruneauGITYYC
    @SheriBruneauGITYYC 4 роки тому +2

    As always, such great information!

  • @ashabastiankocdemir7144
    @ashabastiankocdemir7144 4 роки тому +1

    thank you so much for sharing, i really needed to know those numbers to be able to calculate the right fee for my business. thank you!

  • @michelleeaton5876
    @michelleeaton5876 4 роки тому +2

    Yes, I get paid for first consultation.

  • @mariabowers8245
    @mariabowers8245 4 роки тому +4

    Great info as always! I do get payment for the consultation on the day of! I never thought of separating the design/presentation with the purchasing/installation part. Are you selling your purchasing agreement as well?

    • @ClaireJefford
      @ClaireJefford  4 роки тому +1

      Thanks Maria. There are so many different types of business models, so finding one that works for you is key. I don't currently have my Purchasing Agreement available, but am planning to in the New Year. Cheers again for watching!

  • @sunflowerarts5
    @sunflowerarts5 4 роки тому +1

    Thanks Claire for your information but I wanted to know where do you get those folder behind you to keep stuff can you please explain how to decorate interior decorate office. PLEASE

    • @ClaireJefford
      @ClaireJefford  4 роки тому

      Hello Mita. Here is a link to a video where I take you on a tour of my design studio --> ua-cam.com/video/pyh13oL_eb0/v-deo.html

  • @giselalaporta8611
    @giselalaporta8611 4 роки тому +2

    Thanks, Claire for sharing! I request the pre-payment of my consultation and a 50% deposit of design fees with LOA. Could you share with us what app do you use to create your videos and add the cute texts and the bell sound?

    • @ClaireJefford
      @ClaireJefford  4 роки тому +1

      Hey Gisela! I use Camtasia for editing my videos. If you have a Mac you can use the built in Imovie software.

  • @strawbery0192
    @strawbery0192 4 роки тому +3

    Hi, about getting a deposit on the retainer at the initial consult itself, do you give your clients a heads up about that? I feel like that would take some people by surprise. How do you kindly ensure that they pay you at the end of the consult?

    • @ClaireJefford
      @ClaireJefford  4 роки тому +3

      Great question Hasna. During the Discovery Call, I'll explain what working with us for Design services looks like, which includes discussing our fee schedule. When you work with clients who understand that you have processes in place, they value you more as a professional because of it. I have found it's easier to establish trust and a mutual respect for one another when I'm clear and firm on how we work. We have nothing to hide and the process of choosing/working with a design professional can be intimidating and confusing - we all work so differently from one another. I am up front and confident when explaining our different levels of services and expectations for payment. The good clients really do appreciate you more for being organized and in control...in a nice way. :)

    • @strawbery0192
      @strawbery0192 4 роки тому +1

      Very helpful, thank you so much! 😊

    • @ClaireJefford
      @ClaireJefford  4 роки тому

      @@strawbery0192 happy to help!

  • @gloriarobinson6820
    @gloriarobinson6820 3 роки тому +1

    Which payment options should decorators use ..by checks ..credit/debit cards , bank transfers? What is best for accepting payments? Thank you

    • @ClaireJefford
      @ClaireJefford  3 роки тому +1

      Hey Gloria. The majority of our payments come in the form of Email Transfers. That is a direct deposit from one account to another, so no waiting for payments to clear. We accept email transfers and cheques.
      If you are selling a lot of furniture and larger ticket items, it's likely you will want to consider accepting credit card payments.

    • @gloriarobinson6820
      @gloriarobinson6820 3 роки тому

      @@ClaireJefford ok.thank you

  • @miriamleuthold987
    @miriamleuthold987 4 роки тому

    Claire: Thanks for all your information. What time tracking app/program do you use for projects/billing?

  • @kimberlierice620
    @kimberlierice620 3 роки тому

    Payment while I am there for the initial meeting.

  • @valerialeon4005
    @valerialeon4005 4 роки тому +1

    I do not receive the email with the documents :(

    • @ClaireJefford
      @ClaireJefford  4 роки тому

      We've recently updated our website, please try again here --> clairejefford.com/interior-design-business-resources/

  • @sunflowerarts5
    @sunflowerarts5 4 роки тому

    No