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How To Charge For Interior Decoration Work in Florida?

I am starting an interior decoration business in Orlando Florida (I already got some projects to work on). The problem is that I do not know how much to charge for my services. I know how to decorate houses. I need to learn to bill. Do you have any idea how much I should charge and what factors I should take into account when I do so? Thank you

Details:

  1. I found the following info online. Sounds right to me! "Business schools teach a standard formula for determining an hourly rate: Add together your labor and overhead costs, add the profit you want to earn, then divide the total by your hours worked. This is the minimum you must charge to pay your expenses, pay yourself a salary, and earn a profit. Depending on market conditions, you may be able to charge more for your services -- or you might have to get by on less. To determine how much your labor is worth, pick a figure for your annual salary. This can be what you earned for doing similar work when you were an employee, what other employees earn for similar work, or how much you'd like to earn (as long as your goal is reasonable)."