Why Every Photographer Needs a (Printable) Price List
In this episode I provide some critical information that every photographer must consider in developing their price list. Simply stated it’s a mistake not to have one. A price list is a mark or professionalism. It show your clients and your potential clients that you have a pricing strategy (hopefully) aligned with the current market and that you have a pricing standard versus pulling prices out of the air when asked.
In this episode, I also go into why working for free is a lethal business mistake from the get go. Free, give aways, and almost free will have clients who do not value your work at your door to get a bargain, not to get your talent. Once, you’re known for low prices, it’s tough to raise your prices without the blow back of past clients. Yes, you can go ahead and raise your prices but in addition to losing old clients, you may lose potential new clients by negative word of mouth. Start your pricing at professional industry standards and keep to them. Find out what the market is in your area for quality work and price your products and services accordingly. Don’t waste your time by surveying the shoot and burn photogs.
To give you some guidance in developing your pricing, I’ve included links to articles and podcasts specific to photography pricing. Developing your price list is not an easy thing to do and it requires making adjustments over and over. Your pricing has to account for time, editing, cost of goods, cost of doing business, equipment use including computer and software, and after all that you should still have charged enough so that you make a profit.
In future episodes, I’ll talk about revenue vs profit, cost of goods (COG) and cost of doing business (CODB), but for now. take a listen to this week’s episode.
Here are some highlights from this week’s episode.
{4:35} Free is non existent in photography. If you're taking someone's photo, let's say a portrait or headshot, they're getting a photo and you're giving your time: There's an exchange.
{5:50} You as a photographer have to plant the seed that you do not work for free-that your time, your talent, your knowledge has value. value does not always have to be monetary.
{7:48} When someone offers you that type of opportunity, you should let them know that you'll be more than happy to forward to them your price list or your rates, which is what we're going to talk about next.
{12:46} It was a rookie mistake that I should not have made, and I don't want you guys to make that mistake or something similar, and cheat yourselves out of money earned for your time and for your work. Make a price list.
{13:18} Here are 11 things you need to consider when developing a price list.
{16:59} Why would you price your photos in such a way that you're telling clients your work has little value.
Click here to listen to this episode.
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Image from NJ.com
Links For This Episode
Black Lives Matter Mural East Orange, NJ
Fash
Pixelcents
Expert Photography with attention to the sections "Factors to Consider Before Setting Your Rates" and "Photography Rates at a Glance."
Guide to Pricing Photography Print by Shot Kit. See the considerations that lead a photographer to charge more than $50 for an 8 x 10 photo that cost about $13 to print.
Sue Bryce (Membership Required)
Tanya Smith: Episode 14, “A Simple Price List for Higher Sales”
Episode 2, “Why You Should Never Offer Free Shoots.”
