NOTE: Your expenses will differ based on the type of freelance business you have and not all of the expenses listed above will apply. Out-of-pocket expenses you want your business to cover.Business travel expenses, vehicle mileage.Skill improvement / business education expenses.
Unfortunately, this leads to freelancers guessing, copying others, or using the lazy approach to calculating their hourly rate, which is also the most common approach. Understanding what your time is worth and establishing your hourly rate is often a stressful task for both new and seasoned freelancers alike because there is no universal right answer. And what the heck even makes a freelance rate profitable anyway?.How do I calculate an accurate, profitable freelance hourly rate?.How do I figure out what to charge for my freelance services?.An experienced freelancer who is reevaluating your pricing because you’re either working hard but not earning the revenue/income desired, repositioning yourself in the market with new services and packages, or tired of guessing when it comes to creates estimates and proposals.
A new freelancer who is figuring out how to price your services for the first time and set yourself up for long-term success.Only then can you properly determine what to charge freelance clients. It doesn’t matter if you’re using hourly pricing, flat-rate pricing, or value-based pricing, or if you’re selling services a-la-carte, in packages, or through monthly retainers, day rates, or weekly rates, to accurately estimate the cost for a set scope of work and price your freelance services, you first must know your minimum acceptable freelance hourly rate.