How Much Should I Charge for My Services?

Hi guys. So my friend owns a business, it’s a startup, but they sell very premium woodcarving products, mostly priced around 500-700 BGN (300-400 USD). They also paid a company to build their website, which to be honest, is quite poor. There’s a lack of content everywhere you look, and some pages were even left blank, and they paid around 4000 BGN (2000 USD). Anyway, my point is that even though it’s a startup, money is not an issue.

They hired me for their SEO, but I ended up fixing a lot of issues on their website, like broken links and other stuff. I also did competitor research, keyword research, fixed their social media pages, backlinks, created SEO-optimized content for most of the pages (still have some more to do), meta titles and descriptions. I think that’s about it. And also, after the website is in good condition, they want me to run ads for them.

So, how much should I charge them for my work? I’m not very experienced, but I do know what I’m doing. Though it is my first “freelancer job,” I have a digital marketing degree. I don’t want to overcharge them because they’re my friend, but I don’t want to undercharge myself either. Any information would be appreciated. Please bear in mind the difference in currency, since I live in Bulgaria, and the SEO would be mostly local. For reference, 1 USD = ~1.8 BGN.

Calculate Your Hourly Rate
Business schools teach a standard formula for determining an hourly rate:
Add up your labor and overhead costs, add the profit you want to earn, then divide the total by your hours worked.
This is the minimum you must charge to pay your expenses, pay yourself a salary, and earn a profit

It’s great that you’re thinking about fair compensation. Since you’re starting out and it’s a friend, consider a project-based fee instead of an hourly rate.

Break down your work into phases: website overhaul, SEO, and then advertising. Research average SEO and advertising costs in your area.

Factor in your time, expertise, and the value you’ve brought to their business. Don’t be afraid to negotiate.