Quoting a fixed price is risky if you guess. This free project price calculator turns your hourly rate, your estimated hours and a safety buffer into a price you can quote, plus a deposit and balance. It also shows what you would really earn per hour if the project runs over.
| Labour (hours + buffer) | – |
| Project costs | – |
| Deposit due upfront | – |
| Balance on completion | – |
| Actual hours | Hours worked | What you really earn per hour |
|---|
How the price is worked out
- Labour = hourly rate × estimated hours × (1 + buffer)
- Fixed price = labour + project costs
- Deposit = fixed price × deposit percentage
- Balance = fixed price − deposit
The “if the project runs over” table divides the labour part of your price (not the project costs) by the hours you actually work. It shows how fast a fixed price loses value when the work takes longer than planned.
Why add a buffer?
Client feedback, extra revisions, slow replies and small changes all take time, and a fixed price does not grow with them. A buffer of 15 to 30% is a common starting point, but use your own history of past projects if you have it. If a client needs a lot of flexibility, consider charging by the hour instead.
Tips for quoting fixed-price projects
- Write down exactly what is included, and how many rounds of revisions.
- Say what happens if the scope changes, and how you will price extra work.
- Ask for a deposit before you start. It filters out unserious clients and covers your early costs.
- Track your time on each project so your next estimate is based on real numbers. Our hourly rate calculator helps you set the rate.
- When the work is done, bill with the free invoice generator.
Frequently asked questions
Should I quote fixed price or hourly?
Fixed prices suit clearly defined work. Hourly suits work where the scope is unclear or likely to change. Many freelancers quote fixed prices and charge extra for changes outside the agreed scope.
How big should my deposit be?
Many freelancers ask for between a quarter and a half upfront. Choose a figure that covers your early costs and that your clients will accept.
Are project costs marked up?
You can add a margin to costs you pay for on the client’s behalf. If you do, say so in your quote. The margin and markup calculator can help.
This calculator is for general guidance and does not include tax. Check your own figures before you send a quote.