“I’m new at my photography business. A friend asked me to photograph her wedding. Because I didn’t know what to charge, I found a few sites online and used their packages to build mine. Then I lowballed it because they have been at it longer and have portfolios in place, plus a website and other marketing. So I have a couple of packages in place, but I’m not sure if this is the best method. What else should I do to come up with my pricing?”
I get questions like this all the time.
When you head into a store to buy a new pair of shoes, the store doesn’t guess at its price. The price is established by looking at: materials, expenses, production, marketing, and business expenses. It’s a refined process to make sure that every time a pair of shoes sells, all costs are covered AND the store makes a healthy profit as well.
Without a profit, there is no way a business can stay in business. And if you don’t plan for it upfront, you’re on the road to failure.
Guessing or using another photographers numbers won’t work because you don’t have the same variables as that photographer. You have to take into account many things, including:
- Where you are located
- What your competition is doing
- What your clients expect
- What you expect
You see, everyone has a different purpose for running a photography business.
Some people want to make a little extra cash to pay for a new lens, and bring the family out to dinner on Friday night.
Some people want to replace the income they lost when they faced a layoff from their companies.
Some people want to be incredibly successful, and be one of the best photographers in the world.
Each of these people will have different goals and structures to their business models. And they will approach their photography in many different ways.
So the only way to truly price your photography is by knowing up front what you hope to accomplish with your business.
Where do you see yourself 5 years from today?
If you’ve always struggled with how to price your photography, you’re going to be excited by my latest guide, Pricing Your Photography: How To Set Your Prices To Build A Six Figure Business. I’ve kept this guide short and easy to read, yet powerful to walk you through an easy way to determine exactly what you should be charging for your weddings and portraits. I cover:
- How much you should truly make as a professional photographer
- Determining what the right price really is
- Creating packages that sell
- Setting up wedding packages
- Setting up portrait packages
And a whole lot more.
My goal has always been to help 1,000 photographers break into a six figure income level. Now with Pricing Your Photography to help you develop the perfect package for your business, you’ll be one step closer to achieving your goals too.