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What factors to be considered while setting the price for setting the price for city Zenn? Costs: If the rate does not include enough margins “to break-even, you’re heading for trouble. The best thing to do is sum up all your costs and divide by the number of hours you think you can bill a year. …
Whatever you do, DON’T think you can bill every hour. You must account for sick days, holidays, hours working on the business, hours with no work and so on. Also make sure you factor in all the hidden costs of your business like insurance, invoices that never get paid for one reason or another, and everyone’s favourite taxes” (Nine Factors to Consider When Determining Your Price par. 1). Profit: Related to your input costs, you should always calculate how much money you put in and what are the final costs and always try to break even. This is business and there is need to make profit. Market Demand: Demand is always related to supply, if what work you do is in high demand, then you could always charge more for your services. Conversely if there’s lack or shortage of work around, you’ll need lower your costs and expect lesser margins. Industry Standards: It is not easy known the right charges for your work, always find the going rate for the work you do and try asking around. Try finding out what other businesses charge as well freelancers working on similar project. ...
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