Work out what your hourly rate needs to be.
Start with what you want to earn, add the costs of running your business and enter the hours you can realistically charge for. The calculator works backwards to the hourly rate you need to hit that income.
Worth knowing
The important figure here is your billable time. Working 40 hours a week doesn’t mean you can charge customers for all 40 of them. Quoting, travelling, buying materials, paperwork and chasing payments all take time, so be realistic about how many hours you can actually invoice for.
Don’t forget the costs of keeping the business running. Your van, fuel, insurance, tools, phone, accountant, software and workwear all need paying for, whether you’ve had a busy week or a quiet one. Working out your annual costs usually gives you a much better figure than guessing month by month.
The hourly rate calculated here is what you need to charge for your time based on the figures you enter. It isn’t a complete job price, so you’ll still need to account for materials and the actual amount of time each job is likely to take.
This calculator is a guide rather than financial advice. Your costs, working hours and circumstances are specific to your business, so use realistic figures and review your rate regularly.
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