A retainer fee is a pre-arranged guarantee for a project to be completed within a specified time period. Retainer packages are paid in advance. The advantage of a retainer package vs a pay-as-you-go package is that you know exactly what a project will cost.
Retainer packages work well for small business owners working within a budget. There are no surprises at the end of the month with respect to their VA costs unless an unexpected project comes up. End results are easy to track with retainer based packages.
- You have paid your virtual assistant to do a specified amount of work.
- They have completed the project.
Advantages To The Retainer Client
There are many advantages to being a retainer client. With retainer clients, there are no unexpected costs at the end of the project or task. You know in advance what your project will cost or what your hourly rate (when the project calls for it) will be.
Additional advantages include:
- Many virtual assistants offer a discount for their retainer block of hours
- Some virtual assistants allow unused hours to roll over into the next month
- Know in advance how much to budget for a project
- Convenient one time payment
- Client knows what to expect
In The End
It’s been our experience that clients come to appreciate the retainer based project. At the end of the month, when their other bills come due, they have already paid for our services. When the project is complete, it’s complete. They see the end results and it’s already paid for! Win-win.
The one time payment for our services allows them to budget for the following month. Again, there are no surprises at the end of the month. They’ve budgeted a specified amount of money for the project, and that’s exactly what it will cost them.
Contact us to discuss the advantages to being a retainer client.