I landed a new client yesterday, a local business consultant I have been wooing for months. She advises small businesses on being more effective and preparing for growth, hosts monthly seminars to this crowd and writes 2 columns in business publications!

We verbally agreed to a research project for one of her clients during a brief conversation. She did not want to discuss $$$ since I will be billing her client directly. They need market research on a list of criteria, provided by them, on their competitors. Initially they want high-level information which I can mostly obtain on-line and after they review they will indicate where they want additional detail.

They requested a proposal, including an amount for a retainer for the initial round of research. They acknowledged that they do not expect the retainer to cover the entire project.

I am not sure how to bill for this - should I charge my normal billing rate or more? My instinct says more, but I do not want to be greedy and lose this opportunity.

Your advice, guidance, opinion, etc is appreciated!

Thanks
Donna

I do research for clients and charge my regular hourly rate. I do offer a discounted rate if they prepay a retainer fee for a minimum of XX hours. I'd propose an initial amount of hours you think it might take and request your normal hourly fee.

I find myself agreeing with Sue left and right today (not that I've ever disagreed with you... )
I'd also make a best-guess estimate and charge my regular hourly rate - with the understanding that the project will be invoiced hourly, and not based on a set amount.

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I needed to respond on Thursday. I am charging hourly and actually upped my rate a bit since I think this will take a good amount of research and it is a pretty large company. I am hoping to increase my rate over the next few months so I am testing the waters on this proposal. I am waiting to hear back from them - fingers crossed!

Thanks!
Donna