I’ve only needed a lawyer once in my life. When I met her the first time to discuss my problem, I decided immediately that I was going to hire her. She explained that she thought my particular problem would take about $800 to sort out, and that she needed to collect that amount as a retainer to get started.
I signed a contract and wrote a check without squawking, because I fully expected to pay up front.
She started work and billed me against the retainer I’d already paid. Time elapsed. The hours racked up. And, as it turns out, it took about $3,500 to sort out my little problem. (Don’t feel bad for me; it was worth every single penny.) Luckily for both of us, the contract I signed covered what was expected if it appeared the work would exceed the estimated hours.
I got billed again. She got paid again. She did more work.
How Retainers Work
Retainers are just a type of contract. The consultant, or freelance writer in this case, agrees to do work for a client who pays in advance. The specifics of each job are determined later.
So, you might know you’re going to be given a certain number of blog posts to write, for example, but you might not know the topics until the client calls you up after the weekly marketing meeting.
Retainers Work for Freelancer Writers
The retainer contract works to your advantage as well as the client’s, so don’t be afraid to try it just because it’s something the fancy lawyers do.
When working on retainer you still have the freedom to set your rates by the hour, by the day, or by the project’s clearly defined deliverables.
For example, you might receive a retainer of $600 to produce 3 articles each month. If the client has a particularly busy month and needs another article, this can be billed separately. (If the workload increases on a regular basis, consider upping your retainer.)
This set-up is win-win because you know you’ll have steady work, and the client knows he won’t be scrambling to find a writer.
Retainer Contracts and Client Expectations
Here’s the thing about a retainer: clients will expect you to prioritize their work. And with good reason! They’ve paid you upfront. Just keep in mind that if you take on retainer work, you need to be totally dedicated to communicating with your client and delivering on time. Put off returning calls or emails, and you could lose a client.
- Here’s a sample Contract of Retainer that was posted to a LinkedIn forum if you’d like to take a peek.
- Guys and fellow childless women, forget that this article is posted on a “Mom” site, the information in Writing a Monthly Retainer Proposal is legit.
- Liz Craig discusses retainers and the “down payment” vs. “signing bonus” in her post Freelance Copywriter in Kansas City: Retainers.