How to Price Freelance Projects: The Complete Formula
Stop leaving money on the table. Learn to estimate, scope, and price projects profitably.
The Project Pricing Formula
(Estimated Hours × Your Hourly Rate) + Scope Buffer + Profit = Project Price
1. Estimate Hours Honestly
Write down every task. Add 30–50% buffer for unknowns:
- Discovery call: 0.5 hours
- Design mockups: 8 hours
- Development: 20 hours
- Testing & QA: 4 hours
- Revisions: 6 hours
- Handover: 2 hours
- Total: 40.5 hours + 30% buffer = 52.5 hours
2. Multiply by Your Rate
52.5 hours × $75/hour = $3,937.50
3. Add Scope Creep Buffer (20–30%)
$3,937.50 × 1.20 = $4,725
4. Round & Present
$4,725 → $4,995 (psychologically anchored)
Real Example: Website Design
38 hours × $80/hour$3,040
+ 25% scope buffer$760
Final quote:$3,995
Protect Against Scope Creep
1. Detailed scope document — List exactly what's included.
2. Charge for extra revisions — "2 rounds included; further: $100/round."
3. Use a contract — Specify scope, timeline, payment terms in writing.
4. Payment milestones — 50% upfront, 25% at approval, 25% at launch.
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