There are two ways of going about pricing your social media management services. The first is to set your pricing then look for packages that permit you a decent profit margin. The second is to see what preset packages are available, and then add them into your own portfolio of offerings at a mark-up.

The best price point for the services you sell is approximately three times what your vendors are charging - in other words, take what you are paying out and triple it. This gives you a bit of a cushion - and, if you manage your own time right, puts double your own hourly rate in your pocket.

The important thing to remember about arbitrage is that it is all about the profit margin. You must always factor in the time you are spending doing project management and quality control. If you outsource a $30 an hour job for $10 but then you have to spend 45 minutes fixing mistakes and doing paperwork associated with the project, you just shot yourself in the foot.

Ideally, if you charge $30 for a project that takes you an hour, you should pay someone else to do it for $10. If you can spend no more than 20 minutes managing the project, the $20 you keep for yourself then translates into $60 an hour. See how that works?