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How do come up with pricing for services?

Discussion in 'General Business' started by Mem700X, Jul 16, 2018.

  1. #1
    Good afternoon y'all. Iv recently decided to take a step forward by offering some services that Iv always done for my self or friends who started a new business. (Web design, SEO, custom logos, etc) Even some of the work may be outsourced through a third party if I get too busy or need to complete x amount of projects in a certain time.

    Iv been making websites and generating income since I was in 7th grade, so about 15 years. And iv decided that this is really what I love, because no matter what im always trying to make a buck or generate some new business idea. Iv also landed website jobs here and there through word of mouth without having an actual company name. So now I believe its time that I take it serious and possibly make this a full time gig by offering my services to anybody who may be interested.
    SEMrush
    But my biggest question is, what should I be charging per job? How do you calculate costs?

    In the past Iv pretty much just told people $500 and Ill make you a legit website under a Wordpress platform, you'll get a .com name, how ever many pages you want, if you need help ill make changes etc. and it would go pretty smooth. Now some small businesses here locally are brand new and $500 scares them away.

    But I am now being plugged in with companies who are multi million dollar companies and I need to know what to price them so I make it worth my while, especially if they have it to spend you know? So I did another job where I fixed and made some changes to a companies page for $600.

    Should I offer a 3-type package deal on my website?

    What about logo design?

    Any help is appreciated guys. I basically need something with a FIXED menu price on my website so that companies see it and will know what to expect.

    Any recommendations or links where I can go to read would be awesome.
     
    Mem700X, Jul 16, 2018 IP
    SEMrush
  2. NetStar

    NetStar Notable Member

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    #2
    Market research and analyst... You should search web design companies small and large and compile a list of pricing via spreadsheet. Then go back and review. I think on a very basic approach you can offer 3 packages with fixed pages and features. Then offer a custom option for more detailed projects. I also feel you should have your own templates designed and ready to be launched on Wordpress for the lower cost options. Keep in mind your time invested determines your income potential. You can't charge $500 for a project and work on it every day for one week unless you want to make only 26k a year with flawless bookings of weekly projects. Do your homework first.
     
    NetStar, Jul 29, 2018 IP
  3. EmpireExchange

    EmpireExchange Greenhorn

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    Netstar pointed out some great ideas. I have many friends who freelance and some of the tips I consistently see are: Don't target the small guys, go after decent sized businesses and have full confidence in the value you can provide. Lots of these website freelancers have only been doing it a year or two, if you have 15 years of experience I imagine your work is phenomenal. I take it you have your own site where potential clients can scope you out, I'd have a Facebook Page as well. Social Proof is crucial. I'd read Spin Selling by Neil Rackham to learn how you can create proposals and how to most effectively sell your services. Million Dollar Consulting by Alan Weiss is phenomenal too.

    It's important that your prices are on par with the big website companies, big clients will reject some proposals just from the fact they don't charge enough (leading them to believe they are amateurs). I'd skip the Logo Design, keep your skills specific. I don't outsource anything to someone who does multiple things, if I'm looking for a Copywriter I want one that does just that. There's a good few Freelance groups on Facebook with some amazing people, I encourage you to join them as the info in them would prove super valuable for what you're doing.
     
    EmpireExchange, Jul 29, 2018 IP