I live in Idaho and have interviewed more experienced VA's about their rates. In Idaho it runs from as low as $15 per hour for very basic services (I feel thats too low) to as much as $XX hour for highly skilled VA's. After interviewing them and looking at myself as a rookie and new small business I settled on $XX an hour charged in fifteen minute blocks. My minimum covers all of my basic exspenses and allows for a small profit. How does this compare with your minimum? Idaho is known as low wage state so I am trying to maintain a moderate rate.

Thanks,

John Runer

I am willing to charge from £XX a hour (about $XX dollars) / €XX; however I have been advised that I am charging a bit too low, even though I don't have hardly any outgoings (i.e. rental, electricity, etc). I have used the price calculator and they say that to break even the price is £X. So I hope I'll be making a profit... :s

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Julia Neal ...because we ♥ admin!
http://julianeal.wordpress.com

When I get my business up and running, I think at the beginning I'll take some lower paying jobs until I get my feet off the ground, but my advertised rate will be $XX/hr until I get experience under my belt.

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I was hoping £XX would be acceptable. I am having to agree with snjordan about accepting lower paid jobs, however I feel that a lot of businesses in my area will be only too happy to pay £XX for the first year or so. (or at least 6 months). Hopefully I will be upping my rates to £XX per hour after that, as I am going to be commuting from somerset/bristol (hopefully!!)

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Julia Neal ...because we ♥ admin!
http://julianeal.wordpress.com

Thank you for the responses. I too will work for a slightly lower rate since I am just starting out, however you can't afford to charge too little. Based on prior service business experience I have found being the lowest priced service does not attract the best clientele.

John Runer

Originally Posted by JRuner

Thank you for the responses. I too will work for a slightly lower rate since I am just starting out, however you can't afford to charge too little. Based on prior service business experience I have found being the lowest priced service does not attract the best clientele. John Runer

true, but for my 'target areas' (west kent, bristol, somerset) there aren't any VA businesses around. So perhaps a lower price for 6 months, increasing to £XX (about $XX) would be fine


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Julia Neal ...because we ♥ admin!
http://julianeal.wordpress.com

No matter what you charge, I would advertise the rate you want. You can always negotiate a lower rate with a client, but you can't charge a rate higher than what you advertise for. Say you want $XX.00, but you would work for $XX, then advertise $XX.00. When you respond to RFP's you can respond with a lower rate as well, then if a client goes to your website and sees that you actually charge a higher rate they will feel like they are getting a great deal, but if they see a lower rate advertised on your website they are going to feel ripped-off.

I would recommend not increasing your rates more than once a year and sending your clients a notice in October/November for an increase on the first of January the following year, which is customary (or 2 months prior to end of their contract term). Most companies prepare their annual budgets around the first of the year.

You will start losing clients if you increase too often, because they will feel you are too unpredictable.

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Rebecka Melson ~ Virtual Business Services

Great Advice Rebecka! Thanks!

thanks for that - I was going to do a yearly increase thng, anyway.

I think your going rate should reflect your company outgoings, etc...

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Julia Neal ...because we ♥ admin!
http://julianeal.wordpress.com

I used this worksheet to calculate my lowest rate. My minimum rate is a little more that what I calculated on the spreadsheet. That rate is for my retainer package. I am hoping the way I have it set up will work. I have not found my first client yet.

What does RFP stand for?