How Much Should I Charge? Find Out What Your Service Is Worth With Our Hourly Rate Calculator.

By designbox
Est. Reading: 3 minutes

What is my hourly rate? As a freelancer or a small business, it can be hard to know what to charge for your services. Set your rate too high and you could put off potential clients. Set it too low, and you could be greatly underpaid for your services.

Whether you are just starting out or you are well established in your work, it is important to make sure that the price you charge is the price you are worth. Once you have set a rate, be sure to review it regularly and make sure it still fits you well.

Use our hourly rate calculator to find your ideal cost

Our rate calculator is designed to help small businesses and freelancers identify exactly what their costs are. To find the right hourly price for the work they do. It works for designers, writers, programmers, artists and anyone who offers services or goods on a contract basis, either part or full time.

All you need is your annual expenses, information on your working hours, and your anticipated profits. We take this information and turn it into two simple figures: your breakeven rate, and your ideal rate. From here, you can set your charges.

Try Our Online Hourly Rate Calculator
No data will be collected. This is just fun free online calculator we have made to help small business owners and freelancers work out their hourly rate.

Your business costs

The first thing to consider is the cost you incur by running your business. From rent, power costs and furnishings to equipment, materials and communication services, you incur costs every day that your business is open. You also need to take into account legal and financial services, travel, office supplies and advertising.

Your personal costs

You also need to consider how much you need to make to manage your personal costs. These include your rent and household bills, your daily expenses and one-off costs, and your savings and investments. If you work from home some or all of the time, these costs may cross over with your business expenses.

Your working hours

Your working hours each day include time spent directly working with clients, and also time spent working on your own business. You should take into account days you will take as holiday leave and days that you might need off sick or for appointments when calculating your working hours. Write down how many hours you work per day, and how many days you work per year. These are important factors when determining your hourly rate.

What do you expect to earn?

Finally, you need to consider how much you want to make from your business. If you’re just starting out with a new venture, you might be aiming to break even and cover your costs. If you have established yourself in your industry and have a steady workload coming in, you want to take home a good wage that can support you and your family. Decide how much you want to make at the end of the year, after costs.

Once all these factors are added to the calculator, you will be left with your hourly rate. Use this when pitching for work, when setting up contracts, and when advertising your services. Remember to adjust your rate annually in line with inflation, or to recalculate your costs each year to take into account new expenses and company growth.

Try Our Online Hourly Rate Calculator
No data will be collected. This is just fun free online calculator we have made to help small business owners and freelancers work out their hourly rate.

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