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Triple it is fairly typical. Profit margin + additional overhead, expenses, etc.
Pricing strategy should be a function of their inputs (eg, salaries and benefits, overhead, etc) and their desired outputs (eg, gross margin). The approach you describe seems rather arbitrary.
And competition based pricing…
Mentor
My ballpark when I've done solo gigs in the past is 2-3x your desired net.
3x on the upper end if you've got high admin expenses/benefit expenses/desired time off/etc, 2x on the lower end if those expenses are negligible.
Update - another suggestion I saw was divide by weeks & hours, then triple it (seems very arbitrary).. so $100k annual would be $145/hr
Coach
That sounds about right. If it feels low, charge more. Remember that you are likely competing on price. Companies pay MBB and others a lot more because of branding, a broad track record of successful delivery across industries/functions/geos, and access to firm resources/expertise. You likely offer none of that, but you can charge a lot less.