When deciding how much money to spend on branding your new business, three questions to consider are:

 

 1. What is your overall budget for launching your business?

• The average in Canada is between $5,000 and $10,000 for initial investment in a small business, but some models (such as a home-based sole proprietorship) may be able to launch under $1000, or even under $500.

• Whatever your total budget is, your branding budget should be less than half of your total budget – usually 5% to 20% of it.

 

2. How important is branding to the success of your startup?

• While every business stands to benefit from a cohesive branding strategy, there are cases where branding is less important at startup, such as when you are able to draw extensively from friends and family or other existing relationships for a customer base. 

• At the other end of the spectrum are startups whose survival depends on a great brand strategy – in some cases, it may make sense to spend up to 50% of your initial investment on branding, especially if your overall budget is on the smaller side.

 

3. How much of your branding can you do yourself?

• Keep in mind that any time you spend crafting your own brand is time away from actually running your business.

• In most cases, a professional will be able to provide you with a more appealing brand in a fraction of the time it would have taken you to arrive at similar results.

• Doing your own branding may work well for you if you have an interest and inclination to learn about the process, and have a lot of time to spend getting it right.

• Many professional marketers say that coming up with their own branding is more difficult than providing branding for someone else; it can be difficult to brand yourself because you have to try to see your product or service from a customer perspective, rather than from your own.

 

branding budget examples.

Here are a few example scenarios of what sort of branding services you might consider investing in, depending on your total startup budget.

These examples are based on a company that will be customer-facing, and thus benefit from a branding investment.

 

example 1.

total budget under $1,000; branding budget $100.

For $100, the best place to put your money is into books about branding, so that you can go through the process yourself. Designing Brand Identity by Alina Wheeler is a great place to start.

But before you grab it off Amazon, check the library, or your local indie bookstore!

Many local bookstores, such as The Bookman in Abbotsford and Chilliwack, BC, are able to bring in new books upon request.

 

example 2.

total budget $1000+; branding budget $500.

For $500, you can usually find a design student or fresh grad willing to create a logo for you. You will need to manage the larger brand identity yourself, and be able to give your designer clear instructions as to the specifics of your brand.

 

example 3.

total budget $5000+; branding budget $1000.

For $1000 you can invest in a professional logo from an experienced designer, who will do some research on your company and industry in order to provide a logo that will be the best fit for you. You should expect the designer to ask a lot of questions pertaining to the kind of impression you want your logo to give your target clientele.

 

example 4.

total budget $10,000+; branding budget $2,000.

For $2,000, you can employ a senior designer or small design firm to craft a well-considered brand identity for your company, including a comprehensive suite of visual assets and directions on their use.

example 5.

total budget $40,000+; branding budget $5,000.

For $5,000, you can expect a team at a large design firm to craft a well-researched, cohesive brand strategy and set of visuals for you, most often including a starter website.

 

our rates.

Highlight Logos and Branding offers both logo designs and full branding packages. We strive to keep our pricing as reasonable as possible, so that we can focus on our mission of helping entrepreneurs who face systemic barriers to success.

While every project is different, our rates generally start at $800 CDN and up for logo designs, and $1800 CDN and up for branding packages. 

Not sure what your total startup capital is going to be? Check out our blog article on How to Start a Business in Canada: a 10-Step Guide for help in the planning and funding-seeking stages of your business.

Once you know your branding budget, the next step is to reach out to us for a quote for the specific design and branding services you need.