Calculate the ballpark amount you will need to bill to meet operating expenses, triple your desired income to determine how much you need to bill annually. For example, to earn $50,000 a year, you need to bill $150,000 per year.

Nutrition by Geoffrey

There are two simple formulas for setting fees. Choose one and give your rationale for why you chose this formula. Comment on how your fee strategy will be impacted by insurance companies and market trends in your geographic area. You don’t have to know specifics of what insurance companies pay and what counselors in your state charge, but rather comment on how these will impact your fee schedule.

Axelrod’s Formula for Setting Consulting Fees

How to charge to earn $100,000:

  • $100,000 / 200 days = $500 per day base rate
  • $500 per day base rate + $500 per day overload = $1000 per

day

  • $1000 + 25% add-on for profit = $1250 per day • Daily consulting rate = $1250 per day

Bleich’s “Three Times” Rule

To calculate the ballpark amount you will need to bill to meet operating expenses, triple your desired income to determine how much you need to bill annually. For example, to earn $50,000 a year, you need to bill $150,000 per year.