Licensing Fees When Other People Use Our Song In Their Commercial Product

[Wiguan]

Hello, I am confused on this matter.

I've search the forum and I don't find any threads that actually answering my question.

The situation is like this.

An indie game developer approach me and asked me how much do I charge to make several songs for them.
The song include lyric and vocal, not just a plain BGM.
They also told me that their budget is limited.

I really want to help this indie game developers since they are working in my area of interest.
But I also don't want to be be on the losing side by charging them extra cheap.

So, I've come with this idea.

I make the song based on their games.
But the song is 100% owned by me.

Then, if they want to use it on their games they will have to pay a license fee or usage fee.

Now the question.
Is there such thing as "license fee" and "usage fee" like what I think?

If that's a common practice, how much should I charge?

Look forward for an enlightenment.

Thank you in advance.

Best regards,

Wiguan