Freelancers and service businesses: how did you set your rate? ๐ค
If the answer is "I just copied what others charge," you may be working more and earning less than you think.
A simple formula:
๐ฐ Target monthly take-home: โฑ40,000
โ Monthly overhead (tools, internet, transport): โฑ10,000
โ Billable hours per month: 100
= Minimum rate: โฑ500 per hour
Why only 100 hours? Because admin, sales calls, travel and revisions take time too, and nobody pays you for those hours directly. โฐ
Tips:
1๏ธโฃ Include your business costs, not just your salary
2๏ธโฃ Be honest about how many hours are truly billable
3๏ธโฃ Review your rates every year as costs go up
Save this and check your own rate! ๐
๐ฉ Need help with pricing? Message us or book a free consult at optivanceph.com
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