Pricing

If you don't know how to set prices, you shouldn't have prices to set. In plain English, if you don't have a business plan, haven't calculated your CODB, and COGS, then you can't begin to figure out what you need to charge. Grab the course-list from your local adult-ed facility and look for any and all courses on running a small business and/or entrepreneurship.
 
RachRobPhotog said:
Any tips on how I should go about pricing for sessions. By hour? By outfits? Help!
Click to expand...

My standard reply is $5000.00 per shot! :) Of course, if the shots are underexposed, or OOF.. or the WB is off, you can charge more for the "Artistic" value, right?

Did you get a camera for Christmas, or something?
 
How to set prices:
1. Do your research-know the industry and it's standards, know your print source for all products, know your competition...
2. Get all of your legal, monetary and tax related ducks in a line
3. Calculate your CODB. Here's a CODB calculator for photographers. NOTHING in there should have a zero and if it does you need to think really hard about that zero. If you say "but I am just using my ______ that I already own, it doesn't cost me anything now..." You are totally wrong. You OWN the camera already, but did the business pay for it or did you personally pay for it? You need to pay yourself back for that investment. AND cameras, computers, etc have a limited life. You have to plan for a fund to replace them down the line. You're just using an office in your house so you don't have a rental/utilities/etc... Yes you do. If you are using a space in your home it does cost you. If you didn't have that space you couldn't do business. Your home or cell phone-same thing. It becomes a partial business expense.
Do you have equipment, liability and indemnity insurance? If not you probably better! When that camera breaks and puts you out of business with a dozen sessions booked you are not only out the equipment but also those sessions you were booked for then can fall to indemnity. And even if you are on location where you SHOULD have no liability... The first time someone's child trips over a light stand and gets hurt you will discover they hold you responsible even though the child was a holy terror.
4. Know your COG. COG's includes the cost of the image being printed on that sheet of photo paper, not just what the lab costs are.
5. Write a thorough business plan-it should include EVERYTHING. Who, What, When, Where, Why, How, How much... Once you know all of those things above, you will know what you NEED to make which will dictate the base cost and who you market to will dictate your final costs and how you present them: hours, outfits, session, sheets, digital...
 
cgipson1 said:
My standard reply is $5000.00 per shot! :) Of course, if the shots are underexposed, or OOF.. or the WB is off, you can charge more for the "Artistic" value, right?

Did you get a camera for Christmas, or something?
Click to expand...

Thanks for the tip but no I'm actually a photography major. We just haven't gone over business stuff. And I've job shadowed a professional who did non for profit work.
 
In what market? You don't show a location in your profile.

How many shooting days per year do you project you'll have, and what do you expect for income?

Typical costs turn out to be 75% to 85% of total revenue for most retail photography businesses according to several surveys done in recent years by organizations like the PPA (Professional Photographers of America). Without a studio, costs tend closer to 75% of revenue, while with a studio costs are in the vicinty of 85% of revenue.

So if you want to make $100 from each session and you don't have a studio, at costs being 75% of revenue you would need total revenues of $400 from each session. The $400 would include the session fee and any additional products you sell like a CD of images, prints, books, canvas prints, gallery wraps, albums, key chains, coffeee, mugs, etc.

Invest $15 in your photography business education: How to Start a Home-Based Photography Business, 6th (Home-Based Business Series)
 
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RachRobPhotog said:
Any tips on how I should go about pricing for sessions. By hour? By outfits? Help!
Click to expand...

It's my understanding that many of the 'best' photographers utilize this format for pricing. Here are some of the general guidlines for 'outfit pricing':

$500 for anyone in a superhero costume.
$750 for handmade clothing.
$250 for nudes.
$500 for nudes that insist on 'artisitic shots'

There are more, but one can't give away all the pricing secrets.
 
It's the buyers responsibilty to do due diligence and decide if the photographer is worth paying, or not.

If the photographer can find people willing to pay, I say go for it.
 
 
KmH said:
It's the buyers responsibilty to do due diligence and decide if the photographer is worth paying, or not.

If the photographer can find people willing to pay, I say go for it.
Click to expand...

Thanks.
 
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