Tips For Setting Rates As a Freelance Writer

Business - Small Business
By: EmmaRileySutton    
08-Nov-2010

Introduction:Freelance writing is a business and it is the only source of income for many writers. To keep writing and earning a living, freelance writers must be able to set their owns rates. This can be tricky, but it can be done.

  • 01

    Understand Your Market

    Freelance writers must understand their local market. The rates that are paid in one area will be different from other areas. These rates can start as low as $10 an hour and go up to over $250 per hour. The novice writer usually make $50 or less per hours. Specialist in specific topics will make more per hour. even as a novice.

  • 02

    Understand Yourself

    Freelance writers must understand what type of a writer they are. The more experience you have, the more you will be able to charge. Specialty or niche writers will also be able charge more when writing about topics in their area of expertise.

  • 03

    Understand Your Situation

    Freelance writers must understand their financial situation. You need to know how much money you have to net (not gross) per hour to meet your needs. Set your rates according that specific number. Remember to factor in taxes, expenses and other deductions that will come alone.

  • 04

    Understand the Methods

    Understand the type of methods used when explaining your fees to potential clients. Some writers charge per project and others charge per hour. Either way, your fees should meet your financial needs. When presenting per project fees to potential clients, remember they will be looking at the price per hour as well.

  • 05

    Understand Change

    Freelance writers must understand that things change. Clients who previously paid a certain amount may suddenly lower that amount. Depending on the client and the amount of work they offer you, it may or may not be worth it to take the lower amount. You don't want to lose a client you work for regularly.


Final Thoughts

Owning and operating your own business is a risk-taking adventure and this is especially true of the freelance writing business. Use these tips to help you be able to make money, keep your clients happy and, most importantly, to keep doing what you love - writing.

Comments

  • ChristinaFernando 11/8/2010 Flag This Comment

    Also, I tend to charge per word instead of hourly unless I'm writing for an advertising/marketing agency. I find it easier to charge $1 per word instead of visiting the gray area of hours worked. This helps clients determine how many words they can afford so they can stay within budget.

  • ChristinaFernando 11/8/2010 Flag This Comment

    Great article Emma. I used to dread having to explain my rates to private clients, but now I am at ease with this part of the business. My rates are high because of the quality of work provided. Clients never complain and they're always happy!

  • JulieAnn 11/8/2010 Flag This Comment

    Some good pointers when it comes to setting rates as a freelance writer. I would also add, the quantity of work your client asks for should be factored into the price as well. I charge less for simple blog posts than I do for longer articles.

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