Next, figure out how much you want or need to make from this business, taking into account all the things you may never have had to pay for out of your own money as an employee. The result is the amount you'll need to take in from your business over the period of time you determined. Next, determine as best you can how many hours you can reasonably expect to devote to paying work. Remember, you'll need time to do other things like marketing, filing and paying bills that aren't directly billable to a client. In addition, let's say you determine you only have about 1,000 hours a year of billable time.
Clients like to feel they're in control of how much they're going to spend.
Give them a menu of clearly defined services with individual costs listed for each. If they ask for a ballpark figure to do some or all of the services, don't give a price on the spot. Give yourself time to really think it through. Too often, we're hungry for the business and we undercut ourselves. Clients are paying for your expertise, not your business location.