# Pricing for a new business



## jabryantphotography (Nov 13, 2012)

I am getting more and more into photography and I keep getting asked about my rates.... This far I have just been doing trade work but I was tossing around the idea of setting up a website with rates for my different types of work and I don't even know where to start!!!! And nothing I read can give me a straight answer!!! Can anyone out there help?!?!


----------



## Mully (Nov 13, 2012)

LOL ...you are looking for a "straight" answer here..... they may all be a little twisted.  What kind of photography do you do?


----------



## jabryantphotography (Nov 13, 2012)

Lol I am looking for a direction all I find online is all sorts of crazy formulas I just want some type of guidelines or starting point!!! I do all types of photography but the types I planned on charging for are model,couples,and possibly family sessions any pointers?


----------



## tirediron (Nov 13, 2012)

The reason you can't find a "straight" answer is because there isn't one.  You have to calculate your hard costs (Insurance, equipment, travel, etc) which equates to your Cost of Doing Business (CODB).  Then you have to decide what sort of salary you want  and add that in.  

You then need to figure out an appropriate mark-up on the actual goods you sell (print mainly I assume) and rates for licensing of images if you're getting into commercial work.

You're at the stage right now where you don't even know what you don't know.  The best thing  you can do is to check out your local adult-ed facility and book yourself into some courses on small business and entrepreneurship.  The business of photography is very little about photography and very much about business!


----------



## MLeeK (Nov 13, 2012)

I just recently did a series of posts for you. There is a lot of information in these that will help you.
http://www.thephotoforum.com/forum/...ning-business-building-house.html#post2707594
http://www.thephotoforum.com/forum/general-shop-talk/304732-finding-your-codb-your-hourly-rate.html
http://www.thephotoforum.com/forum/...-its-not-answer-what-do-i-charge-for____.html


----------



## MLeeK (Nov 13, 2012)

When you are done with those here is some more business advice and info:
http://www.thephotoforum.com/forum/general-shop-talk/304517-uh-well-just-read-i-cant-title-one.html
http://www.thephotoforum.com/forum/general-shop-talk/304649-how-blow-away-client.html


----------



## ronlane (Nov 13, 2012)

Darn it MLeek, I can't read all of that AND watch this thread AND eat my lunch. Can't you just sit down and do it for me? (ROFL, as I duck yelling, I'm teasing).  Excellent list.

OP, short answer is there is no one straight answer for what to charge. Even after you calculate the CODB and adding a profit margin, you still have to be comfortable asking for that price and then it's a matter of you are worth what people are willing to pay you for.


----------



## jabryantphotography (Nov 13, 2012)

Yes and I understand all that as well the business mindset is not what I'm missing my holdback is how do I know what too charge per shoot if I initially have no idea how many paid shoots I will get and secondly what is my work "worth" to potential clients?!? There is no correct answer for this I understand! But where did you guys start? I have researched many local photographers and they range from the under qualified charging an arm and a leg to the extreamly gifted charging next to nothing so that wasn't much of a help either


----------



## jabryantphotography (Nov 13, 2012)

And thank you I will get to work reading those links!


----------



## MLeeK (Nov 13, 2012)

jabryantphotography said:


> Yes and I understand all that as well the business mindset is not what I'm missing my holdback is how do I know what too charge per shoot if I initially have no idea how many paid shoots I will get and secondly what is my work "worth" to potential clients?!? There is no correct answer for this I understand! But where did you guys start? I have researched many local photographers and they range from the under qualified charging an arm and a leg to the extreamly gifted charging next to nothing so that wasn't much of a help either


First you have to know your costs... that's covered in those posts.
Second you have to value yourself. You don't know how many shoots you will get, but you can figure out what your ideal number is and aim for that.


----------



## tirediron (Nov 13, 2012)

I'm pretty sure that this is covered in MLeek's outstanding tutorial session linked to above, but in short:  Do your hard calculations, figure out your CODB, COGS and how much profit you want to realize.  Then (based on the assumption that you will be working a 'real' job) determine how much time you want to devote to photography.  

For the sake of argument, I'll assume you have a regular Monday to Friday office-type job.  You're free evenings and weekends.  You still have family committments, gutters to clean and all that sort of thing, so let's say you will give up two evenings a week and Saturday for a total of eighteen hours.   of that eighteen hours, six or seven would be about the most that I would shoot, as the rest will be taken up with processing, client meetings, and the thousand and one other little chores that have to be tended to.  From that, let's say that breaks down into four 90 minute shoots...  Assume that once you get going, you will do that many (however many you come up with when you plug real numbers into the equation) per week and go from there.


----------



## ronlane (Nov 13, 2012)

What's your time worth? Then figure out how long it takes to prep for the shoot, get to the shoot, setup and shoot, leave and the process the photos, then meet with the client to order the prints. Add a mark-up on that of 7-10% on this portion and be sure to charge a mark-up on the prints to cover shipping and a little profit for you as well.

That should ball park it to get you started. If you are booking so many that you don't have time to sleep or eat, then you probably need to raise prices.


----------



## texkam (Nov 13, 2012)

Read links first!


----------



## 2WheelPhoto (Nov 13, 2012)

jabryantphotography said:


> I am getting more and more into photography and I keep getting asked about my rates.... This far I have just been doing trade work but I was tossing around the idea of *setting up a website with rates for my different types of work* and I don't even know where to start!!!! And nothing I read can give me a straight answer!!! Can anyone out there help?!?!



tax man is waiting to do business with you


----------



## jabryantphotography (Nov 13, 2012)

Lol yes the good old IRS something else I need to take into consideration!


----------



## runnah (Nov 13, 2012)

I run my own business and I can tell you from experience to follow these tips:

1. Take your estimated budget and double it, then triple it, then double that amount.
2. Check with your town, state, city, hamlet, burg, shire, etc... to make sure you are not violating any laws and are paying the right amount of taxes.
3. Get a lawyer. Cover your ass 150%, one mistake and you could have everything you own taken from you.
4. Have fun with it!


----------



## KmH (Nov 13, 2012)

You will have to estimate how many shooting days you will have during the year. It's a number essential for determining your CODB so you can set prices.

From what you said above - "model,couples,and possibly family sessions", you are doing retail photography.


----------



## gsgary (Nov 13, 2012)

jabryantphotography said:


> Yes and I understand all that as well the business mindset is not what I'm missing my holdback is how do I know what too charge per shoot if I initially have no idea how many paid shoots I will get and secondly what is my work "worth" to potential clients?!? There is no correct answer for this I understand! But where did you guys start? I have researched many local photographers and they range from the under qualified charging an arm and a leg to the extreamly gifted charging next to nothing so that wasn't much of a help either




Post a photo we will soon tell you what it worth


----------



## orljustin (Nov 14, 2012)

" I do all types of photography"

ie., I know how to point the camera in a direction and push the button, lol.


----------

