Do you wonder what rate to charge as a consultant? Q&A was part of Next Level Practice, the most supportive community for therapists starting a private practice. In this video, Joe answers the question based on what rate to charge as a consultant.
Question: What Rate Should I Charge for Consulting?
Michael: I may have an opportunity to serve as an expert consultant for the first time. How would how I would negotiate to determine my rate for that service?
Consulting Rate Answer
Joe: I would look at, ‘What’s the value that you bring?’ Furthermore, what do you charge for your counseling sessions right now?
Michael: Right now, it’s just insurance only. But, if it was a private pay, it would be about $125.
Joe: Okay, so you definitely want to make more than $125. If you’re going to do this, there’s always unforeseen things. The rule of thumb that I use for consulting is, you want to at least get double what your typical counseling rates are. So, you want to average at around $250 per hour. And then, think about all the things that you can add in, beyond just the time. So, for example, it may be, ‘I’ll fly out to work with you guys for a day as an intensive’. Obviously, they pay for your travel, and that’s included. So then, you can do the math on how many hours that is. So, maybe that’s a $2,000 day. And then, once a you know – for example – once a month you do a 45-minute session with their head of development, etc.
I would really get as much information from them as to what they’re hoping for. And so, they may say, ‘We just want someone to bounce ideas off once a quarter’, or ‘We want someone who is more actively involved in this’. You really want to look at how much time it’s going to take. And then, I’d say you probably want to do a retainer model where you say, ‘For $500 a month, what you get is a 45-minute session, e-mails back and forth, a few quick phone calls on development; but beyond that, the cost is $250 per hour. This is to ensure that you aren’t stuck, where you’re getting $500 a month, but they just keep sending you so much work that it distracts from your practice.
Joseph R. Sanok, MA, LLP, LPC, NCC
Joe Sanok is an ambitious results expert. He is a private practice business consultant and counselor that helps small businesses and counselors in private practice to increase revenue and have more fun! He helps owners with website design, vision, growth, and using their time to create income through being a private practice consultant. Joe was frustrated with his lack of business and marketing skills when he left graduate school. He loved helping people through counseling, but felt that often people couldn’t find him. Over the past few years he has grown his skills, income, and ability to lead others, while still maintaining an active private practice in Traverse City, MI. To link to Joe’s Google+ .