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Pricing a modified typeface

I've gotten a request from a prospecting client who wants to use one of my retail typefaces but with three characters changed. This is the first time I've gotten a request like this, so I wanted to ask how y'all approach pricing in these types of gigs.

I'm thinking that I'd simply charge for the hours it takes me to develop and master those three characters (probably around 1 day tops) and add in the cost of the license. 

Simple as that? Or is there something else I should consider?

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    Sounds reasonable. However, keep in mind that you might need to include at least one presentation, a round of client feedback, a round of revisions before you can finalize the commission, and of course your administrative work (email, calls, …).

    All the best :)
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    @Tobias Rechsteiner

    Thanks for chiming in! :) The client already has a basis for how the characters should look. I just have to basically optimise them a bit, so I don't expect much back and forth (hope I'm not gonna bite my tongue here). But definitely worth a note for future reference. 
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    @JoyceKetterer

    Thank you so much for your thorough response. Very helpful 🙏
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