Freelance Projects Pricing Calculator

It's important to define a scope and estimate the number of hours for each task separately, as having a very defined scope and clear requirements will make it easier to estimate and avoid scope creep

Here's the equation if you want to do your own calculations or make one of your own (hover over elements to see a description)

Estimated Working Time Hours = Deliverables x Milestones x Avg Nb Tasks Per Milestone x Avg Hours Per Task x (1 + Overhead Time %)

This gives you the estimated total number of hours for this specific project

You can take this number and divide it by the "real" number of hours worked daily to give you the estimation in days, which in itself not that useful, by you can use it to calculate working weeks when you divide it by the number of working days per week and the same for the months.

This equation will help you calculate the hourly rate that you can use for estimating the costs of different tasks, if it's a small project that doesn't take many hours this will give you a fast idea on how to calculate it

Estimated Hourly Rate = ( (Monthly Expenses + Desired Savings + Business Costs ) / Billable Hours Per Month )x (1 + Force Majeure Buffer (5-20%))

A lot of these calculations seem repetitive and they mostly are but to get as close of an estimate i tried to add every variable that i felt could affect the project's cost to make calculations easier

All of the additional percentages are may seem redundant and over the top for simple projects and with that i have to agree, but each one of these costs and additions has its role, and if it doesn't save you now, it will in the future.

It's easy to give a random estimate and then face some problems with the clients in terms of payments / communication and even companies going bankrupt. All of these will affect your revenue.

For A freelancer taking in a project is a risk in itself but not estimating correctly is an even bigger risk.

Finalized Pricing = ( Estimated Working Time x Minimum Hourly Rates x (1 + Profit Percentage) x (1 + Buffer For Large Projects and-or Risk Of Complexity) x (1 + Experience Level (Beginner 0%, Intermediate 10-20%, Advanced 50%-100%)) ) + Hidden Costs

If the project is super simple and doesn't take time don't bother with these kind of calculators and give an estimate that you know will be most accurate