Answering Service Pricing

Know about answering service pricing.

It can be difficult knowing what to charge for your answering service business. Here are some excellent guidelines to help you set reasonable but profitable rates for a home based answering service.

• Calculate your monthly expenses Add up your annual expenses such as phone charges, equipment, office supplies and then divide by 12 to get your monthly costs. Your revenue must exceed this and include payment for your time and skills.
• What are average rates for an answering service? Your answering service pricing will be determined by where you are located, the extent of the services you offer and the hours you work. Research average rates asked by answering services in your area. Know what your competition offers and what they charge. Use resources such as the Yellow Pages, Craigslist and the websites of answering service businesses to get this information. www.connectionsmagazine.com has a telephone answering service listing under it's Resources link. You can visit various websites listed there to see what answering services are charging and what services they include. In general the rates per client for a basic answering service range from between $50 - $80 for a base number of calls (usually between 50 - 100) per month. Additional calls are charged at a set rate. You can increase your rates by offering a variety of different business services. Go to Starting an Answering Service to see what your answering service pricing can include.
• Draw up a formal contract It is important to have a standard contract that both you and the client sign. You can find standard business contract forms in the business section of your local library or on the web that you can customize for your own use. If you have access to an attorney it is a good idea to have them go through your final contract.
• Use available resources Join national and local teleservices organizations and make use of the resources they offer entrepreneurs and small business owners. For example, The Association of Teleservices International at www.atsi.org provides support for telephone answering service businesses.

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