I am just starting this journey, too. But I almost fell off my chair when I read what they were paying. I agree with Charisma - do not undervalue your work. The LA pro that trained me gave me some great advice - check the local 'market' (quilt shops that do it for customers is a good place to start) to see what they charge. She reccommended never charging less than 1.5 cent/sq in. And that is low low low, for a very simple overall meander. Anything custom (which is sashing, borders, designs in blocks, etc) can be more than 4 cents/sq in. If you have to iron, piece backings, or ANYTHING else, she recommended charging for each service. Another pro around here ran a special "get 'er done" price of $15/sq yard (for 'those quilts not worth spending the money on"), or $25/sq yd for more detailed work. But she has a computerized machine, so can set it and walk away.
Hope that helps!