I think this is a great plan. You are doing a lot by giving a longer strategy with hourly rates. That lets your clients feel like they are getting more for their money.
Hourly rates, especially when you break them down and show detailed information about what you did allows your customers to "see" the work. This is by far the biggest struggle with SEO work. Your clients don't want to take the time to learn the stuff, but they also don't want to be hosed. Find a way to streamline this part because your time tracking can easily eat away 5-10 minutes of every hour if you aren't careful. They want to see what you've been up to but nobody wants to pay you to write down what you did
Long term businesses always do best when they over deliver so I wouldn't worry about giving away everything...unless of course if you truly have only one comprehensive report's worth of knowledge, lol. In that case you shouldn't really be charging for SEO at all right, so i am sure that isn't true
As long as you are completely up front about the limited scope of work and that anything else will be charged extra you should be good. Don't be embarrassed or glide over it, it's going to be the biggest headache down the road fi a client claims they didn't understand.
I run a content generation firm so I know all about the low ball clients. Don't undersell. Period. You have to decide what your services are worth and prove that to your audience. If they don't want to pay, thank them for touching base and send them along. No harm, no foul. I'm also a huge fan of firing clients that are disrespectful. After a while you get a sense for who is going to be a problem client, and you just cut that off from the start. Having a smaller group of clients that bring you joy is way better than a ton of clients that make you hate your job!
Sorry I went off on a tangent there. Yes! This is a good plan