Figuring out your hourly rate especially when you are a startup freelancer is difficult. There are many information presents online that may mislead you, but it is important for you to know how much you should charge
Being a freelance photographer that knows his hourly rate is fundamental. There are many factors to consider when determining your rate. However, remember that not all freelancer charges by hourly rate, some do package deals. But, having a rate in mind serves a good possibility to make your project estimated accurately.
- Look at the project span
For you to be able to offer a reasonable hourly rate, you have to find out how long will be the project. As a freelance photographer, you can ask your client about how many photos do they expect. From that, you can estimate how many photos per hour you can make.
- Use your experience
Working as a startup a freelance photographer from freelance photographer for almost a year is different. If you know that you have already enough experiences, you can charge your hourly rate higher than those who are just starting up their photography business.
- Consider the time frame
Unnecessary situations may set impact to your hourly rate. If the client wants you to complete the project in a rush, increasing your rate must be your solution for you are likely to have a delay to other work in order to meet the tight deadline.
- Consider competition
Part of the client meeting is the comparison of rates from other photography businesses. If you know that your competitor is highly skilled than you, you must rate your charge lower.
- Have a salary goal
Ask yourself how much you want to earn for a year. This factor will help you to charge your rate based on the expenses you will have.
- Drop 3 zeros
If your salary goal for a year would likely to earn $40,000. Then, drop the three ending zeros to get $40 per hour. If you calculate $40 per hour by regular eight hours work a day, you would get $76,800 estimated income a year. This is just a rule of thumb and this method might be good for you.
- Charge the same rate of other freelancers
Don’t be confused about this. Others mean the same experience level. You can ask other freelance photographers on how much their hourly rate was. From this, you can determine if you will charge the same amount or decrease it based on your abilities.