httpwebwitch - 9:04 pm on Dec 17, 2010 (gmt 0)

LOL. rocknbil that reminds me of a buddy uses a well-known formula to figure out markup on his freelance work. It's the one for converting Celcius to Fahrenheit.

F = 9/5 (C+32)

It means his minimum price is $32 to do anything. (0°C is 32°F). A project that will cost $1500 in man-hours will be invoiced as $2732.

I should have mentioned in step one; that number includes your cost of living and expenses and insurance on your equipment and printer toner and the phone bills and snacks and so on. It's not the same as what you'd expect as an hourly wage working for an employer.