This post details the points of why you need a logo designer. Designing yourself might be good but remember that a logo designer has more experience than you and will do a much greater job than you.
Many companies think that designing a logo is not that important to their brand and decide to go for a cheaper option. There are also many companies that think that instead of hiring a logo designer to design their logos, they should just go for designing the logo themselves as it will save them a lot of money and time. Whatever the reason, there are a lot of things that need to be considered before hiring logo designers. Here are some clarifications to those doubts and reasons why and when you should or shouldn't hire a logo designer:
If your logo is a major part of your company, and is needed for marketing against your company's competitors, it's a better idea to get a good logo better than not. However, if your company is a B2B, you will most probably not need a logo and you can choose to not design one. Always remember that if you choose to have a logo, you should not be cheap about it. You should put in the extra money, if needed, and hire a professional logo designer and get a good logo design.
There is no one, fixed price that a logo design will cost you. Depending on the designer and his experience and also on the use of the logo design, the prices vary. For example, if the client hires a designer to design a logo for some one-time or once-in-6-months event or festival, a professional designer will charge you anything from $50-$500. Whereas, if you want a professional designer to design a company logo for you, they will charge you anything from $50-$100,000. The reason for this difference is pretty obvious. When designing a logo for a company, the company owner, the CEO, the board of directors and other important figures in the company have to approve the logo and also be a part of the designing process. So, if there is a mistake in the logo design, it can cost as high as the price for which the logo was made or even higher. This is going to cause a major loss. Whereas, if we put this problem in the flyer/poster for festival situation, that mistake is going to cost as big as $500 but that's it. So, you should never go for what the designer is charging you per hour, instead, it all depends on the experience of the designer and the type of logo you want to get designed and for what. Beware of cheap designers as they might seem like a good idea at first but it is highly possible that you will not be pleased with their designs and the revisions will ultimately end up costing you as much as the expensive logo designers that you were trying so hard to avoid. And the final product might not even be worth it. But with professional designers, you will not have the risk of going though many revisions and wasting money. You will at most need only 2 or 3 revisions and you will be left with a logo that will be worth it.
If you are working with a professional logo designer or a reputable logo design agency, your complete logo design can be expected within 2 weeks' time, including all the revisions, but only if you have worked together with the designer to provide clear and concise information about your company, its history and facts. If you do not help your designer in the designing process, it may take longer for the designer to research and design the perfect logo.