Here is a verbatim helpful post submitted by Laura Vestanen on LinkedIn and I strongly recommend her book found on Amazon. 
"Newbies - how to determine your fees
Car costs
Most new notaries forget to work in the cost to own and operate their car when they accept work for signings and general notary work.
Edmunds has a good calculator:
http://www.edmunds.com/tco.html?mktcat=tco&kw=true+cost+to+own&mktid=ga56677242
The cost to own and operate my car comes to around 75c a mile. I live in a rural area so if I take a signing 30 miles away, that's 60 miles round trip. 60 miles x 75c = $45. So I am fronting the SS or TC $45 just to take the job.
Computer and other equipment
The cost of computers, scanners or fax machine, printers, toner, paper, etc, all add up fast. FedEx in my area charges $12 an hour and up for the use of their equipment plus more for printing. So a good place to start is $15 an hour including printing.
Our essential cell phones are expensive, too.
For example: $70 a month comes to $840 a year. If you take lowball fees of $60 per signing, it would take 14 signings just to pay your cell bill (and you'd still have to pay for your car and computer equipment).
Notary commission, bond, insurance, stamps, embosser, and journals.
The above costs for my 4 year commission comes to around $500. So I need to sock away $10 a month to be ready for the $500 hit when I renew every 4 years. Yes, you absolutely need errors and omissions insurance.
Your time
Each loan signing takes a few hours of time. Phone calls and emails with SS, TC, and signer, time at the computer, time in the car, time with the signer, and time for packaging and taking to FedEx. Say 2 to 3 hours per job.
If you are new, your time is worth at least $20 per hour. If you are experienced, at least $30 an hour.
Tax and licenses
Varies widely by area and by individual. Assume at least $5 per job when you start out.
Arriving at the minimum fee you will accept as a newbie -
2.5 hours of your time @ $20 per hour = $50
Car - let's say 10 miles each way. 20 x 75c = $15
Computers and other equipment. 1 hour at $15 = $15
Cell phone - let's say you only get 6 signings a month when you're new. So $12 per job.
Commission & supplies savings acct at 6 signings a month = $2 per job.
Tax and licenses $5
Minimum fee for you to accept: $99
Which is $50 for you and $49 for expenses.
So never accept a job for less than $100. If the SS or TC says they can find someone for less, let that person have it. You have a business to run.
Best of luck with your notary career,
LauraV"
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| Messages in this Thread |
|  Looking for work - Roxann Camparone on 9/30/14 3:19pm |
|  Aren't we all? n/m - BearPaw/CO on 9/30/14 3:41pm |
| Re: Looking for work - jba/fl on 9/30/14 4:04pm |
|  Use orange search button and read read read n/m - Darlin_AL on 9/30/14 4:09pm |
| Congratulations, Roxann! :D . . . . Post 1 of 2 -  Christine/OK on 9/30/14 6:32pm |
| Congratulations, Roxann! :D . . . . Post 2 of 2 - Christine/OK on 9/30/14 6:34pm |
| Congratulations, Roxann! More than 2 posts-size constraints - Christine/OK on 9/30/14 6:37pm |
| Re: Looking for work - Doris_CO on 9/30/14 6:38pm |
| Congratulations, Roxann! Finale :D - Christine/OK on 9/30/14 6:39pm |
 | P.S. To determine your fees, if you haven't already done so - Christine/OK on 9/30/14 6:47pm |
| Cross posting from another forum is really rude - jba/fl on 9/30/14 8:37pm |
|  jba/fl--don't hold back--ooops, black flag here! n/m - Darlin_AL on 9/30/14 11:08pm |
| Re: Cross posting from another forum is really rude - Cheryl Elliott on 10/1/14 9:08am |
| Re: Looking for work ... first steps - John/CT on 9/30/14 8:26pm |
| Re: Looking for work - Cheryl Elliott on 9/30/14 9:06pm |
| Re: Looking for work - Marazz/AZ on 9/30/14 10:12pm |
| Re: Looking for work - John Tennant on 9/30/14 10:29pm |
| Roxann, how new are you? n/m - C. Rivera Chicago Notary Services on 10/1/14 10:23am |
| Roxann, also a 1st person profile comes across - Darlin_AL on 10/1/14 11:39am |
| Re: Looking for work - Hiba/CA on 10/1/14 1:25pm |
| Great post, Hiba!! n/m - Linda_H/FL on 10/1/14 1:42pm |
| Roxanne, please remember to charge the correct notary fee - C. Rivera Chicago Notary Services on 10/1/14 3:30pm |
| Re: Looking for work - Blueink_TN on 10/1/14 10:09pm |
