“Hands down, pricing your services as a freelancer is tough. So tough that no one has really mastered it. There isn’t really a secret formula to pricing your services just right, no magical tricks that will help you land awesome clients, and no one way to price your services so that you can guarantee that you will be rolling in the dough.”.
Amber Leigh Turner wants to help other freelancers succeed, because when freelancers succeed individually, they can succeed as a group.
Every single freelancer’s situation is different
Based on your unique situation specifics: family responsibilities, current bills, experience, where you live, education level, types of clients, etc., here are some tips that you should use most if not all of the methods to help come up with your pricing:
1. Look at current job ads
Divide the average salary by the hours calculation to get an average hourly rate.
A good starting point but leaves out some information, such as business expenses (overheads) and health insurance that are usually taken care of by an employer.
2. Chat with other freelancers in your field
rates are usually set for the location, and your location may be different.
3. Use freelancing rate calculators and apps
These often do not take into consideration certain factors such as experience and current clients.
4. Look at freelance industry reports to see average hourly rates of others
5. Give your hourly rate a test drive
The best piece of advice in regards to figuring out whether your hourly rate is good for the marketplace (and if you need to raise your rate) is “If you don’t have a few quality clients turning you down based on price, then you aren’t charging enough.”
6. You are your best judge
Go with your gut. Only you will know, with experience and time, if your hourly rate works for your situation and your specific needs as a freelancer.
7. After you have an “hourly” rate, decide if you should charge per hour or per project
Most freelancers are now switching to project-based pricing, where they take into account how long it takes them to do a project along with other specifics such as client needs, materials cost, and taxes then present the client with a flat figure for a specific project.
8. Remember everyone’s situation is different
The best way is to take averages of what others in similar situations are charging.
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