Freelance opportunity - please help me someone.
EverythingsSoComplicated · 03/11/2019 20:24
Sooooo I have had this massive opportunity get dropped in my lap!! Something like this will probably never happen again, and I’m overwhelmed and scared that it could actually happen to me.
I cannot give out to much information but will try and explain the best I can.
I am a mum of two young children. Been working the last three years with a friends husbands business to help them out. Was only supposed to be a over Christmas thing and I have just never left!!
Well yesterday I was out on a experience day shall we call it that I have a lot of passion and knowledge about, and this company asked if I would come and work for them........ haven’t really got the fine details yet but they said that I would be need to freelance, ok again not a problem but god where do I start, I think we are having a chat tomorrow to discuss more about the position and what they would want from me, I’m so excited and so so scared at the same time.
Been trying to find out what people charge freelancing these days I don’t want to ruin the opportunity by asking for too much but at the same time I don’t want to undercharge. I will be working from home most of the time, and maybe going out to visits and meetings with other people. I have been told that my expenses would be covered. So I’m guessing phone bill and mileage.
Does anyone here do freelancing that can give me some hints and tips. Im so so scared I’m going to ruin this opportunity before it even begins. I also struggle a little with anxiety and I’m already contemplating not answering my phone and ignoring it and digging a hole.
Any help would be so so appreciated.
onetimeonlyy · 03/11/2019 20:27
When I started freelancing I charged 1% of what the annual salary would be for a days work.
Eg you would be paid £25,000 a year, it would be £250 a day. You can break down an hour rate from that.
Careylisa · 03/11/2019 20:32
I was about to say exactly what @onetimeonlyy has just said.
This is good advice regarding a daily/hourly rate.
OtraCosaMariposa · 03/11/2019 20:34
You are aware that you can't just decide that you're freelance, and your new "boss" can't either? Freelance is a strict legal definition. If you're only going to be working for this organisation, and can't do things like setting your own hours, deciding when you're having holiday, your work might fall into the freelance category.
Many organisations tell you that you're freelance to get out of paying your NI, tax and giving you the benefits which an employee would have.
AnnieOH1 · 03/11/2019 20:34
Firstly make sure you avail yourself of all relevant tax laws etc. Freelancing is all well and good but it sounds like you'll actually be an employee as you will only be working for one company. This can cause huge problems. Consider too if becoming a limited company would be better for you
As for fees that really will depend on the field. We regularly charge anything from £25 an hour through to over £1,000 per hour. Some of our work is fixed fee. For some clients we work on a retainer basis. There's a lot you need to consider.
I would start by searching Google for "freelance JOB NAME in COUNTRY". You may be lucky and find networking groups and other resources.
Remember that you must factor in insurances, holidays, sickness etc. You'll need to consider what you'll do in the event of sickness. What non-compete/nondisclosure might you be expected to sign? What notice period for the contract do you need to negotiate?
It's an utter minefield and - being totally honest - I would seriously question the legitimacy of the offer you've received, the stability of the company and exactly how safe the offer is. From the little you've written I would urge you to be extremely cautious.
onetimeonlyy · 03/11/2019 20:35
I would just also say... When I freelance I charge for a day's worth of work. Not necessarily a day's work. If I work fast and get it done in 5 hours then I still charge for a day. It's taken years to get to the point I can work quickly.
Just bare that in mind too.
onetimeonlyy · 03/11/2019 20:37
Me again. There's also lots you need to consider from a tax perspective, I would encourage you to visit an accountant.
MaybeDoctor · 03/11/2019 20:38
1% of annual salary - that's quite a good rule of thumb, I like it.
I freelance for a couple of places in addition to my paid work and my day rate is actually around 1% of a similar employed role, depending on what I am doing.
OP, you strike me as very excited! It is great news, but put a sensible head on and proceed with caution.
- Is this post actually a genuine freelance role? Or should you be employed? Look at the HMRC tests of employment.
- Ask them what they normally pay someone doing equivalent tasks.
- Will there be a contract?
- Set up a scoping meeting where you get them to set out what they have in mind.
- You will need to keep records and file a tax return.
- Insurance - you need it.
- When/how will you bill? I recommend billing as you go along, otherwise it is quite easy to end up in a pickle.
- Make sure that you allow for reading/preparation/thinking time in what you bill.
EverythingsSoComplicated · 03/11/2019 20:57
Thank you for all your quick responses. They are very helpful,
I understand the legal reasons behind freelancing and the fact you can’t have one sole company,
My plans in my head are I will take on this now opportunity whilst also keeping my current position at my friends business for the time being and just dropping my hours. I also have an old boss that has been asking me to do some accountancy work for him but always said I wasn’t really ready for this as he could only give me a few hours a week, so thought I could also ad him to my list of clients.
As you can tell I’m very unsure what to do and was hoping to get some advice and ideas thrown around,
Also helps to get my head clear by discussing options with others as I have no one to really discuss this with.
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