Almost everyone would enjoy a little extra income each month. Many do side jobs like repair cars, build furniture, photography, etc. If you are thinking about starting a side business you are probably asking yourself all kinds of questions, including, how much should you charge?
The answer to this questions is always, it depends. It depends on your market, it depends on the quality of your product or service, it depends on your competition. This of course is never the answer people want to hear. People want to hear a dollar amount. Well, yourrate.co is a handy calculator which asks three simple questions and gives you an hourly rate you should charge.
The questions are:
- How much do you want to make per month?
- How many hours do you want to work per week?
- How many weeks per year do you want to take as vacation?
This handy web app will then return your hourly rate.
The site is clean and simple which I appreciate. I also enjoy one of the lines on the page, “Forget market rates and just making a profit. Charge what you’re worth.”
There is a lot that goes into starting a side job but figuring out the rate needed to meet your needs is exciting and motivating. It gets really fun once you start to cultivate a community online and the lines between hobby and enjoyable career start to blur.