Here’s the thing. To know what your rates are, you also need to understand what your goals are.
Do you want this to be a side-hustle or full-time job?
It’s not always about working harder to make more money, but if you are a service-based consultant (versus having products and passive income – more on that later), then having more of the right clients does improve your overall bottom line.
If you are doing this as a full-time business, then additional expenses will come into play that include:
- Health Insurance
- All your personal bills! i.e., salary for YOU!
- Office space (even in your home)
- Internet, phone, communications
- Gas mileage, travel, etc.
- Online software and apps (this is where you might spend a large percentage)
- Computer, printer, office supplies
- Training and association fees
- Consultants, virtual assistants, or employees
- Bookkeeper, professional services
- And anything else for business success
Your old hourly rate from a J-O-B just will not be the same as your consultancy hourly rate. There is so much more that goes into this.
So how much can you make as a Freelance Grant Writer?
Well, it really depends on:
- What goals do you have?
- Are you geographical based?
- What type of grant writing experience do you have (or can leverage)?
- What types grant writing services you offer?
- How much confidence do you have in pricing your rates?
- How much do you want to work (and then associated expenses to integrate into your pricing)?
Freelance grant writers make anywhere from a side-hustle income to save up for a trip all the way to a 7-figure+ business and anywhere in between.
As a grant writing coach and mentor, I’ve seen all the different income levels. What holds most freelance grant writers back from making more money is their confidence in pricing.
Once a freelance grant writer starts to improve their confidence (especially in our Mentorship!) they really start charging more and they start getting clients that pay more.
For example, a side hustle consultant might make way more than a full-time grant writer if the side hustler is more confident in their pricing and has more experience writing grants.
One of the best things I’ve seen is a freelance grant writer mentee double or triple their rates and then secure a nonprofit client that happily pays that rate!
My favorite thing to hear is, “I was so nervous showing them my new rate, but they didn’t even ask any questions and just paid the rate! Now I have more confidence and am getting ideal clients!”
This just lights me up!
So, remember, you can make whatever you set your mind to in being a freelance grant writer!