Pricing your work
Lesson 10 of 12 in our free Side Hustles & Self-employment guide: a 5-minute money game with the key points below.
This lesson is in the full version.
Free with a code from your uni, college, council, landlord or employer (worth £600/year). Lesson 1 of Side Hustles & Self-employment is free for everyone.
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Questions you'll answer
A portrait takes 6 hours and £9 of materials. Mo wants at least £12.71/hour for his time. Minimum price?
Mo's prices cover materials but he's exhausted and earning £3/hour. Best first move?
Quick facts
- Working out your hourly rate after costs → Green flag. The only way to know if it's worth it.
- Matching the cheapest seller no matter what → Red flag. A race to the bottom where you finish last.
- Adding platform fees and postage into your price → Green flag. Otherwise they come out of your profit.
- Doing 'exposure' jobs for free forever → Red flag. Exposure doesn't pay rent. An occasional portfolio piece? Your call. Forever? Red flag.
- Putting aside some of each payment for tax → Green flag. January-you will cry happy tears.