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Whether you choose a fixed-price strategy or an hourly-price strategy, it’s important to be consistent. Changing this may reduce client trust.
Bayswater Interiors’ Gemma Hill says her company uses hourly pricing because it believes it’s fair for both parties. “Clients only pay for what we deliver,” she says. “In the past, we have had projects where our clients expanded the scope of our work, or unexpectedly changed their minds mid-process, expecting us to start over again to incorporate new ideas. This resulted in a loss of time.This way we charge for the work completed so we don’t cut our own pocket and this is always clear and fair to the client.”
Nichols, on the other hand, prefers a fixed-price structure. “When I put together my pricing proposal, I use similar work as a benchmark to estimate how much time I will spend on the project,” she says. “Once proposed, the price will not change unless the nature of the work changes or unforeseen circumstances arise. We then discuss it with the client and adjust the price as necessary.”
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