Dave, a few things to consider when going into logo design (I'm a professional graphic/product/packaging/web designer in the pool & billiards industry):
Logo design is highly intensive. Aside from car and architectural design, I consider it the most challenging of all disciplines, simply because you need to say as much about a company as humanly possible in a split second. In that split second, you need to grab the attention of your market and communicate - in some cases - many ideas at once.
In order to achieve a great logo, your designer needs to know anything and everything about your company. For instance, if a lemonade company comes to me without giving information, I might just design a boring lemon logo. But what if that lemonade company uses lemons grown only in Hawaii? And what if that Hawaiian company is marketing their product mainly to kids? Well then their logo is already turning into something interesting and ideas are more directed and less up in the air.
I understand if your budget is limited to about $100 worth of equipment, but understand that a logo is the core of a brand's visual identity. Everything from its color, composition, typefaces used, and graphic style should all be integrated into the rest of the brand's identity (such as the business card, the website, the store front, the company's uniform, if applicable, etc.).
I have seen on MANY forums in other industries where the owner offers $50-$100 or so compensation. But you should know that the average market value for logo design - depending on the scope of the client - is usually around $600-$5,000, by professional designers. I generally charge $1,000 for all my logo designs, but in the pool industry I go as low as $500, since most of my clients are there.
The process is typically a 6-week, 6-stage process, where I start out with about 50-60 black and white ideas (mostly rough) and ask the client to pick 5 or so that they like. From there, I take those 5 and elaborate further on those, still working in black and white, and creating a new batch of about maybe 100 different ideas. From there, we move to round 3 in color, and you see how this goes. This goes for 6 rounds (more rounds cost a few extra bucks).
Good logo design isn't just "here's the finished design in color." There is a long process in which the designer and client go through stages of ideas. Remember that your logo SHOULD be something you use for decades. Brand identity is very important, especially in an industry where pool players have an enormous amount of choices. If your brand changes every few years, you get lost in the crowd. Stay recognizable. The best brands in the world do this. And if they update their logo, it's minimally.
So if you take a logo design here from someone who happens to come up with a decent idea, you'll still need to have it trickle down into the rest of your brand identity (unless you don't care about that). These are serious things to consider because a new logo is a huge investment in your company. I don't mean to discredit those who give you ideas, but you are a professional and I'm sure you value a pro's work.
Thanks for your time Dave. If you want to see my work, you can visit my sites here:
Company website: fastnloosedesigns.com
Portfolio website: chrisdesignsstuff.com
If you're interested, I can design your logo for a good price. Thanks!
-Chris Santana, fast&loose designs