Running a Business (Pricing and Costing)

This week in lecture we looked at how we should work out pricing our photographs and the costing of things that we need to factor into this price.

We were told that once we worked out the costing that the service would be that we should sell our service for higher than this cost and then anything over the initial cost would cover unexpected issues and the remaining would become our profit.

We would need to work out the value that we think our service is worth this is done by combining our photography research with our quality of work and our distinctiveness and also our level of experience. Other factors include my geographical location and the price that other photographers are offering for the same service.

I do not have to be the cheapest photographer on the market however I must make my service good value for money.

Costs to factor into the price:

Travelling
Hours shooting
Hours in post production
Getting prints
Insurance
Equipment
Software
Assistants
Office / Studio space
Promotional outputs
Daily Life
Computer hire
Props
Stylists
Models

Overheads = general to all jobs
Direct = dependant on the specific job

How much do I want to earn?
How many days do I want to work?

Overheads + Desired profit
Divided by                                 = Day Rate
Number of days working

Losing Money?
- Change clients
- Present work differently
- Second Job
- Cut out unessentials



Some helpful tools from online:

a-n     The Artists Fees Toolkit
NUJ   Freelance Fees Guide



How to Price a Print

Cost to produce x4 = base sale
But keep in mind the client

Editioning Prints
- rarity = worth more as it is collectible
galleries tend to ask for editioned prints