How to decide the price for an iOS app for freelancer - feature/function basis or complete project or hourly?

Question

I am an iOS Developer. I have just started freelancing and this is my first project for the client. My client is from India and so am I. My client has given a checklist of features to me that he wants in his app. He asked me to decide the time required to implement for each task and the price of each separately. He wants the complete list of separate tasks and the price of each task.

Now, I am a little confused: is this the correct way to decide the price or should I charge for a complete project on an hourly basis? If I charge him on a feature basis, then how would I decide the price? What parameters should I consider? The task includes features like Facebook, Gmail authentication, user feedback, FB & Twitter sharing, and server side coding (I am handling the server side as well), device orientation etc.

Answer 1

1. Figure your hourly rate if you don't already know it.
2. Calculate how much time each feature will take you to build.
3. Time to build feature multiplied by your hourly rate provides the Feature Cost.

Add up all the feature cost values to get total project cost.

Add up all the feature build time values to get total project time.

Explain dependencies in your quote/bid -- i.e. "Feature C can not be completed until Feature B has been implemented and tested". or "Feature D through F must be completed simultaneously for a stable end product".

Answer 2

Charge him by the hour, but break it down for each task. So:

Facebook Integrations = 1 hour = Price X

GMail Auth = 3 Hours = Price Y

Feedback = 2 hours = Prize Z

Then that way you are not under valuing your work.