[Hidden-tech] Retainers

[David Spound]

Hi all,

I am trying to create a new consulting relationship with an organization,
and I am wondering about the concept of a retainer. When one agrees to be on
retainer, does one receive a set amount of money per month? And, if so, does
one agree to provide a certain number of hours of work? How would that
hourly rate compare to a situation if there was no retainer?

Hypothetically speaking: say I have a client for whom I currently provide
services on an as-needed basis for $100 per hour. I might do anywhere from 0
to 25 hours of work in a given month. I am looking for a way to get more
work on a regular basis. In exchange for some sort of guaranteed monthly
payment, I would be willing to lower my rate. My thought would be to propose
a retainer of $1,200 per month in exchange for which I would do up to 15
hours of work ($80 per hour).

Is that how a retainer works? If the client does not utilize their 15 hours
in a month, do they ³rollover² to the next month (that would reduce the
benefit of the retainer agreement to me)? And if the client needs me for
additional work, would I bill them at the new, lower rate based on the
retainer amount (i.e. $80 instead of $100)?

Any advice will be greatly appreciated!

Regards,

David

++++++++++

David Spound, M.Ed.
Valley Mindfulness

(413) 219-0654
david at valleymindfulness.com
http://www.valleymindfulness.com

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