Working for yourself: pricing your services

MMM £20 ImageEveryone who offers a service has to decide on fees. This can seem harder than selling a product. Just how do you work out the right rate for your time? Start by looking at the competition. How much do other companies or individuals charge for similar services? You may start by charging one amount when you have little experience, then put your fees up as you get busier. Sadie Knight runs Glassraven Web Design. She says, “Pricing my services has got to be the hardest thing that I have had to do in my business life. You are not selling a solid item; you are selling skills and time. Looking at the competition you can see the huge variation in prices. A five page website ranges from a few pounds up to a few thousand pounds for something that superficially looks same, but with messy code and outdated design which can impact on a websites ranking. I made the decision to price myself affordably but not at rock bottom. I factored in that I enjoy working with small businesses. Seeing a company you work with growing from start up to successfully established business is a fantastic feeling. I worked through how many projects I could do per month and then split the cost into what I needed to earn to cover my costs and earn a wage. I factored in time for maintenance of my websites and business administration”.

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