How to price your services
Hourly, day rate, project or value pricing? A practical guide for solopreneurs, with a minimum-rate formula and calculators.
Your price has a floor (what you need to earn) and a ceiling (the value to the client and what alternatives cost). Good pricing sits as close to the ceiling as your proof allows.
1. Find your floor
Use the freelance rate calculator: income target plus costs plus tax, divided by realistic billable hours.
2. Choose a pricing model
| Model | Best when | Risk |
|---|---|---|
| Hourly | Scope is unclear or ongoing | Caps income; penalizes speed |
| Day rate | Workshops, on-site or sprint work | Scope creep inside the day |
| Project / fixed fee | Scope is clear and repeatable | Underquoting |
| Value-based | You can tie the work to revenue or savings | Needs strong proof |
| Retainer | Ongoing access or deliverables | Must define limits |
3. Raise prices safely
- Raise prices for new clients first.
- Give existing clients 30–60 days' notice.
- Add a premium tier and see who chooses it.
Product pricing? Use the pricing calculator. Benchmarks: freelance rates.
Pay benchmarks: BLS Occupational Employment and Wage Statistics.
Everything in Money & taxes
- Grants and funding for solopreneurs
- Health insurance for solopreneurs
- Freelance rates: how to set yours (writers, designers, video editors)
- Freelance designer rates
- Freelance rate card template
- Solopreneur taxes
- Tax deductions for solopreneurs
- Quarterly estimated taxes for solopreneurs
- Self-employment tax explained
- Freelance rate calculator
- Pricing calculator
- Self-employment tax calculator (2026)
Sources
Checked 21 Oct 2026. Spotted an error? Tell us.
Update history
- : first published; figures checked against the sources listed.