I'm thinking $50-100 is pretty light for an actual professionally designed logo, so don't get your hopes up that you're going to pay that little. If you want someone to actually put thought into what you want your business to be and to really work the name into it, and provide you with comps and revisions, that's not 1-2 hours of work. But if you're serious about the business and plan on doing this long term, it's small money for developing your brand identity. When I had my logo redesigned I got multiple samples and rounds of revisions, and then the finished logo was provided in every conceivable raster and vector file type for both PC and Mac. They did color, grayscale, and reversed images for different applications, designed my business cards, letterhead, and envelopes, and created a company style guide so I never have to wonder what font or what colors to use. I know I'm in the minority around here but I think there's real value in a professional graphic designer versus "I know a guy who does logos on the side" or, godforbid, one of these crowdsource sites where a 14 year old with a cracked copy of Photoshop is copy-pasting another company's logo and changing the colors in the hopes of winning $99.