Whilst I would encourage people to value price where possible it is often more practical to quote fixed prices.
Here are some of the things to consider when setting your prices for services:
- How long will it take?
- How complex is it?
- Does it need any particular expertise? And do you need to pay extra for this?
- How much does it cost in terms of hourly salaries?
- Can you use software to speed up the work?
- Are there other costs?
- How easy is the client is to work with? eg clear specification, providing information promptly, approving promptly and paying on time
- What is the acquisition cost? (Time and money spent on marketing)
- What proportion of overheads should be included in the fee?
With new clients there maybe a lot of unknowns and they may also take time to set up contracts, software, direct debits etc as well as more general familiarisation. These set up costs need to be covered too.