“ How much should I charge?”- Pricing 101 For Black Freelancers, Creatives, and Artists.

Posted by Kera Moné on

Stepping out on faith and following your dreams is one of the most rewarding experiences in life. However, money makes the world go ‘round and not to mention rent is still due on the first. That’s why we’ve created a simple guide to answer questions like “How much should I charge as a freelancer?”, “ How do I set rates as a freelance artist?”, “Should I charge hourly?”,  and “ How can I get paid as a freelancer?”


How Much Should I Charge?


The short answer- charge whatever you want. However, the best method is to create a strategy. When setting your rate it’s a good idea to consider a few things like your ideal client/customer, your expertise or niche, your skillset and experience, and what other creatives in your industry are charging. For example, if you are a freelance photographer with a knack for fine dining (niche) your ideal customers are probably small business owners or event planners. It’s important for you to understand what their lifestyle (expenses) are so that you can create a rate that fits into their unique profile. 


How Do I Set Rates As A Freelancer?


This is one of the most popular questions on the internet and somehow black creatives are still underpaid for their freelance work. Let’s get one thing out the way if you’ve been charging hourly for your freelance work-STOP! You are not an employee which means “work” for you is more than just showing up for the day. Consider your expenses. How much does it cost to do the job (think about the cost of equipment, training, time invested, fees, etc) and how much value can you create for your client? If you spend $100 a month on website fees, equipment management, training, and other related costs, your rate should be able to cover your expenses and create a profit. We’ll cover pricing techniques in the future. Subscribe to our newsletter to learn more about making money as a freelancer.


How Can I Get Paid As A Freelancer?


Before you can get paid you need to make sure that people know you exist. Your social media accounts should represent you as an artist, creative, or freelancer. The more professional you are the more likely you are to attract high paying clients. You can also sign up for freelancer platforms like Fiver.com, or join Facebook groups. It’s also a good idea to have a contract template that should include how you will accept payments. Whether you only accept cash or prefer an electronic transfer be sure to specify the details of the transaction so that there’s a clear understanding of what’s expected of the client.


Bonus Tip


Freelance work doesn’t mean free work. However, part of being a successful entrepreneur is recognizing opportunities that will elevate your brand or business… even when money isn’t involved. If you’re just starting out then volunteer your services to potential clients. Always prioritize building valuable relationships, an impressive portfolio, and delivering a consistent experience for potential customers. The money will come and when it does be ready to receive it.

 

Got a question about money management as a freelancer? Tweet us @strangerclub__



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