Freelance Rate calculator

When running a business as a successful freelancer or agency it is important to make sure you are charging a healthy price for your services.
This calculator is designed to help you find your break even rate, profitable rate and service price for your packaged services and projects.

First, let's look at expenses

Software
$
Subscriptions
$
Equipment
$
Accounting
$
Administration
$
Tax
$
Rent
$
Utilities
$
Contractors
$
Wages
$
Branding
$
Advertising
$
Marketing
$
$

Secondly, let's look at your hours spent at work each week

Make sure to include all activities (marketing, sales, accounting, hiring, research, upskilling etc.) not just the time spent working on projects.

hours

Next, let's work out your break even rate

Your break even rate is the amount per hour that you need to be charging in order to cover your costs.

Remember to update wages in the Expenses section (If you work alone, just put 1).

employees

Now, it's time to determine your profitable rate

Your profitable rate is the amount that you need to be charging per hour in order to achieve your desired profit margin.

Profit margins normally range between 10% and 50% depending on the service being offered.

%

Lastly, how much should you charge for a project or service?

Your service price is the amount that you should charge for the entire project/service to make sure that you are covering all your expenses while making a profit.

hours

Your Summary

164.54

Hours Per Month

$65.58

Breakeven Rate

$98.37

Profitable Rate

$4,918.26

Service Price

That looks like an awesome new project you are scoping!

The best way to make sure your project runs smoothly is to use a contract and receive payments as the work progresses.

You can do that here at MilestonePay

Want to know more? Reach out for a demo!