Deciding what to charge for typing services can be the biggest challenge to running this type of home-based business. Since a skilled typist typically attracts a diverse group of clients and a wide range of projects, the challenge becomes not only how much to charge, but how much to charge to whom and for what type of project. Keeping a cheat-sheet of pricing options handy can help a typist eliminate the guesswork and maintain a healthy salary.
Charging a price per page for typing services is a commonly used pricing method. For straight typing with no editing required, a base price ranging from £1.90 to £3 per page is standard. If minor corrections are required, add an additional £1.30 to £2 per page to the base price. Prices increase according to the level of editing desired by the client.
Charging per word is the simplest pricing method. No matter what the project, a typist runs a word count and then multiplies that figure by a determined price per word. This calculation is typically done prior to starting the job. Standard rates start at 5 cents per word and go up. Another way to quote using this method is by pricing a group of words. For example, a 400-word article will cost £13 at 5 cents per word. To make a little extra, quote spread prices such as £13 for a 300- to 400-word article.
Per Work Hour
Charging per work hour takes discipline and experience. Guessing how long a project will take leads to both under- and overcharging. If a typist strives to maintain, for example, a personal income goal of £16 per hour, then projects must be completed accordingly in order to meet that goal. However, if a typist quotes three hours to finish a project at £16 per hour and the job actually takes five hours to complete, the typist -- who is now taking a cut in pay -- must still honour the quoted rate. This type of pricing strategy for a typist can be quite lucrative but it takes serious focus and discipline.
Per Audio Hour
Transcriptionists charge per audio hour. A project could be one long clip or a series of clips added together. A good standard rate is £32 per audio hour. For single audio projects less than an hour, quote a half-hour minimum with minutes left rounded to the next quarter hour. For example, the price for transcribing a 14-minute audio clip would be £16; for a 36-minute clip, £24.30; for a 110-minute clip, £40.60.
Charging flat rates for specific projects works well with new or sporadic clients. Examples of projects would include any type of letter, essay, report, or resume. To avoid confusion, include specific page amounts in the project price. For example, a one- to two-page letter (APA Style) might be £16. For a one-page essay, £22. For a two- to three-page essay, £48. Add £3.20 per page on top of the flat rate if research is required. A resume and cover letter package can go as high as £81 flat rate.