2. What exactly is a retainer agreement,
and why would you want one?
Basically, your client will pay you a set amount of money each
month, and you will provide them with your services as they
need them. This can be a fantastic setup for a number of
reasons, the most obvious one being financial stability for you.
3. Choosing to set up a retainer agreement with a client provides
a clear payment time frame that eliminates the wondering/
waiting phase that can come with freelancing.
The client will pay you on the agreed date, and you suddenly
have the ability to create some financial plans based around
scheduled payments.
Generally, this isn’t the norm in freelancing, and can be a great
step on the way to making your freelance fantasy a reality.
4. There are a few steps to take,
however, before you snag a retainer
agreement template and start offering
one to all of your clients.
…
5. WHEN IS A RETAINER AGREEMENT
A GOOD IDEA?
Many of the people you work with will likely be happy with
their current setup with you, and won’t want to change
things up.
There are certain clients, though, who are perfect
candidates for a retainer agreement. Those who provide
you with a steady stream of projects on a regular basis, pay
on-time, and greatly appreciate the work you do are ideal.
6. THREE THINGS YOU CAN DO TO ALLEVIATE
CONCERNS ARE:
Offer commitment choices.
Remind the client of your value.
Highlight the importance of your availability.
7. WHAT SHOULD YOU INCLUDE IN YOUR RETAINER
AGREEMENT?
Be extra clear about the amount
of work you will provide.
Talk about payment.
Work Time.
Progress Updates.
8. A FEW TIPS:
Include information on extra work.
Consider lowering your rates a little to sweeten the deal.
Make it official and have both of you sign the agreement.
Track your time, even if you charge by the project.
If you promise your client your availability, you’ve got to
keep yourself available to them.
9. Getting all of those details in can be a little intimidating, so
we’ve created this handy retainer agreement template for you
to use and customize for your business needs.
10. Want to get more information?
READ THE FULL ARTICLE
11. Don’t get caught in a courtroom... with a contract
that’s not legally binding.
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