Setting fees for your services should entail a combination of factors, including: what other firms charge and for what; a determination of your competition’s rates within your geographic area; the demographics respecting your target clients; the cost of your overhead; your revenue projections; the format of fees (hourly, contingent, alternative); and the factors for determining reasonable fees, as elucidated within the Massachusetts Rules of Professional Conduct 1.5.
FURTHER READING FROM OUR LENDING LIBRARY
Winning Alternatives to the Billable Hour: Strategies That Work (Mark Robertson and Jim Calloway, American Bar Association)
Alternative Fees for Litigators and Their Clients (Patrick Lamb, American Bar Association)
Alternative Fees for Business Lawyers and Their Clients (Mark Robertson, American Bar Association)