What Should I Charge?
The pricing of a freelancer’s services is a well debated topic, as well as the most confusing factor for a new freelancer. We are very creative, but we are not always the most business saavy. We realize upon jumping in that the business end is no fun, nor does it make any sense to us. Putting together a price list can be so difficult for us, but here are a few tips to get you started.
Keep your prices low, especially if you are new or your portfolio is small. You have yet to fully prove yourself and we are in a bad economy. Do not charge too much right now. Quantity is better than quality right now. It literally pays to stay competitive. Try to keep your prices lower than that of the competition.
That brings up the next point. Spy on the competition. Look at the websites of freelancers who do what you do, especially those that seem successful. Look at their price lists or anonymously contact them for pricing information. Take their quote, learn from it, drop 20% from it, and call that your price. If you seem to be lower than everyone else, advertise that. Advertise your low prices as compared to competitors.
Look up estimated 2009 and 2010 freelance average rates. Also be specific in your search engine queries, like, “2010 freelance web designer rates” or “2009 freelance blog writer rates”. The average will be higher than your research. Drop it by 30% or 40% and brag that you are significantly below the average.
If you are a writer, try to bill small projects by the word and give bulk pricing (i.e. $10 per 12 point font Times New Roman page) for larger projects. It is so much easier and makes you more reliable and believeable. The best overall rate I have seen is charging four cents per word. It is low enough that the work will come in, yet high enough that you will not starve in the meantime. I find that to be a happy medium.
Now look at the tentative prices you have listed. Could you see yourself working for that price to start? Remember not every hour you work will be billable. Just look it over, do the math, and see if the pricing you have come up with can work for you. If not, back to the drawing board. Questions? Use the contact form. We are here to help.
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