Hi Meryl. I think the harder question is how much is too little. How much is too much? When you have no clients ‘because of’ how much you are charging. In my opinion, if you set your fee, and you get clients who are willing to pay it and enlist your services, then it stands to reason that your fee ‘is not too much.’ I know that’s a simple answer, but it’s essentially true in the service industry. The real analysis for us as the service provider is how many clients/paid sessions/income do we want/need to make, and whether we are getting enough clients at the fee rate that we are charging, to make that amount. If you are not, then you need to reconsider your fees as just one part of the ‘why not’ analysis.
I hope that this makes sense and that this is helpful to you.
I agree that you need to see what your demographics are and what the going rate in your area is in order to determine rates. I also think your rate should be relative to your experience, certifications, and specialties.
Do you offer something unique or extra that others are not? If you have a specialty that sets you apart then you should charge accordingly.
There are many factors that will determine cost as others have stated. I believe that you must value what you have to offer before coming to a decision on cost. Yes, what others charge is a factor, however, sometimes it is beneficial to be slightly more expensive than your competition as long as you can justify it.
It really depends on your area, your skill set, experience and what you have to offer that others in your area may not. Clients will let you know what is too much, as they won’t sign on at that rate. Then again, I find that people are willing to pay more for results, experience and specialty. How do you stand out from your competition? What do you offer your clients that they don’t? How can you communicate that to your potential clients? How do you let them know about your previous successes? All of this communicates to your clients why you should get paid the price you’re asking.