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Is a retainer a monthly fee?

A retainer fee is a fixed fee that the client agrees to pay based on their anticipated need for your services, and the anticipated volume of work. The fixed fee is either a single advance payment, a recurring monthly fee, or an annual fee.

How do you negotiate a retainer?

Here are a few tips for winning a retainer contract and ensuring it works for both you and your client. Target your Most Important Clients. Position Yourself as Invaluable. Consider Dropping your Rate. Dont Skip the Proposal Part. Shoot for a Retainer thats Time-Bound. Be Clear About the Work you Do Under the Retainer.

Is a retainer fee returned?

A retainer is by default non-refundable and is not returned. Instead, it gets applied to the total. Think of a security deposit for an apartment or a cleaning deposit for an event venue rental (separate from the actual fee for the event cost itself). These are fees that are separate from the total.

Are retainers usually refundable?

Most frequently, the client agrees to a security or an advanced payment retainer where payment for services is drawn from the monies held in trust. Heres the kickeronly the true retainer is non-refundable. Unearned funds from either a security or advanced payment retainer must be refunded at the end of the work.

How much should you charge as a retainer?

A good rule of thumb is to charge at least $3,000 per month for your retained clients because this way youll only need 3 clients to sign retainer agreements in order to earn a six-figure income. Your goal should be to develop high-income skills so that each client is paying a $10,000 per month retainer fee.

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