Dear Sean,
I’m a new designer in Los Angeles working on establishing my fees. I find your advice on markup pricing compelling, but I would love some clarification: Are you saying that the fee formula for the procurement phase of a project should be a percentage converted to a monthly fee, estimated based on initial delivery quotes and extended to cover delays? And if so, are the only additional hourly fees during the procurement phase charged for project management that may coincidentally be happening at the same time?
Puzzled by Pricing
Dear Puzzled by Pricing,
It has been more than three years since I wrote that particular column, so a revisit is most certainly in order.
First, an analogy. If you go to a fancy restaurant with your significant other, and each of you order your favo