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How To Determine Your Business Service Rate

"How much should I charge for my services?"  This is a key question for many business owners. Through many years of observation, this one very important detail is one of the most overlooked by service business owners or new entrepreneurs. By the end of today's Workshop you will have an answer to the above question and gained clarity about how important the direct relationship of your Business Fee Rate is to the profitability and success of your own business.

Frank Stokes, Principal Consultant

Daylite Article with research for Consulting or Coaching Service Rates per industry.

Paperbell.com Article about Pricing Your Consulting Services: 4 Models

PointerPro Article on How To Calculate Your Rates.

Basic Key Business Assumptions

How To Calculate And Track Overhead Costs For Your Business 2022

This video will cover the basics of financial reporting, such as forecasting your sales and budget for expenses. 

Financial Projections For Your StartUp

Introduction to the 6 components of financial projections for your business plan and startup.

"When you’re running a small business, you’re looking to maximize profitability, i.e. how many dollars did you put into your pocket." 

New York University Data regarding Profit Margins by Industry Sector.

Current Data regarding Small Business Profitability in the Professional Services Sector.

Overview Of Calculation For Business Service Fee Structure

Consultant Fee Calculator Tool

Considerations For Determining Your Service Charge

Pricing For Consulting Services / 

How To Charge Clients

Considerations for best approach to charging your Clients for Consulting Services.

2 Tactics To Determine Your Service Pricing

Determining pricing can be very confusing. In the beginning, you may have to start at a lower cost in order to attract more opportunities to prove yourself.

Invoicing And Payment Solutions

Always provide a variety of Payment Solutions to meet your Clientele Audience needs.

QuickBooks GoPayment

QuickBooks GoPayment is a free mobile point of sale app that allows you to take payments on the go. Using GoPayment is easy - just sign up with your QuickBooks, TurboTax or Mint account. 

ScanPay

ScanPay is payments and banking built for small business. Collect digital payments on the go, get payouts instantly¹, and get Cashback with your ScanPay debit card².

Invoice2go

Invoice with ease using Invoice2go a Bill.com company. Small business owners in over 160 countries trust Invoice2go to send professional invoices and estimates to clients.

How Much Do I Pay In Transaction Fees?

Calculate Your PayPal Transactions Fees

Calculate Your Rate with Square

Calculate Your Square Transaction Fees

A Few Words About Increasing Your Fee-For-Service Rates...

Assignment To Demonstrate Competency

Thanks very much for joining our Workshop today! Now that you have all of the Business Service Fee Setting Tools, please share your new Executive Skills by sending your answers to the following 4 Competencies Questions below, via e-mail (Please include your Name and Company) to: Frank Stokes at: FStokes@pcrsbdc.org

Generate revenue at a profit and achieve success!

1

What is the Market Rate  Service Fee for your Service Industry?

2

What is the Average Profit Margin for your Service Industry?

3

What is your Company's Baseline Minimum Rate for Service Charges?

4

What is your Company's Adjusted Rate for Invoicing Service Charges?

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