How to Calculate Minimum Hourly Rate For Service Providers + Packages
Originally published: 04/01/2018 11:39
Last version published: 22/03/2019 13:49
Publication number: ELQ-31732-2
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How to Calculate Minimum Hourly Rate For Service Providers + Packages

Calculator in Excel and explanatory video demonstrating how much you should charge for client work.

In this tool, George Kao helps you work out the minimum hourly rate that you should be charging your clients. It is clearly laid out and thus easy to manipulate for the user.

This online calculator template is used that can be tailored for personal use. George Kao walks you through how to use the tool in the tutorial video in order to help you better utilize the tool.

The tool takes into account:
- Enrollment time
- Vacation time
- How many hours per week you would ideally have paid client time
- Taxes
- The minimum income you require monthly

It will also factor in the deductible expenses and the monthly income requirements you need.

Only the numbers in the yellow cells should be changed whilst the white cells are automated formulas that will remain the same.

This tool is available to download instantly, and is ready to use.

If you have any questions or queries, do not hesitate to start a discussion below. Alternatively, you can contact me directly through private message via my Eloquens author account.

If you have enjoyed using this minimum hourly rate calculator with accompanying video, please show your appreciation by either leaving a 5* rating or a review.

This Best Practice includes
1 Calculator Template in Excel, 1 Video

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