While I was working in a Railroad maintenance shop, I did some "contract" work for them in my shop.
One of the projects was some pins, 2" dia. x 6" long with a 1/2" threaded hole in one end.
They furnished the material. I had to cut the shafts to length with a power bandsaw, so I had to face the ends
to make them nice and flat.
I made 3 to start with, I think, keeping track of the time.
As I recall, I charged them $10 each and didn't worry about the time as I would work on them for a while,
then get distracted to do something else. You know how it goes. Anyway that worked for me.
I,ve made a few small pieces for the neighboring farmers over the years. Most of the time I've been able to
make the pieces in just a few minutes, usually while they look over my shoulder. I usually don't charge for
something like that. But when ever I need to borrow their skidsteer loader or need a load of manure
for the garden, they're happy to oblige.
I do the same for the older shrimpers around here. They have only one boat and it's a small one. They catch enough to pay the bills and stay active. Sometimes those parts are outrageously priced and they simply don't have the funds to purchase one or the seasonal time crunch is upon them. I tell them, bring me the old part, material to fabricate a new part from, and a day or two. Then they get the part I made and I ask for NOTHING in return. What they do give me are stories of life on the water and family. Yes, I get overpaid! Thank you for helping neighbors!!!