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Thread: So many ask " what should I charge? "

  1. #1
    Senior Member Dfive's Avatar
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    Default So many ask " what should I charge? "

    So many people ask " what should I charge for this project / assignment / job ?? "

    You gotta start with the Business basics first........

    Also do yourself a favour - Start by watching this 15 minute video before asking the question.




    Cheers.
    See my WTS items.. :) Any sales is by meet up face to face, payment is cash only.

  2. #2
    Senior Member oracle0711's Avatar
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    Default Re: So many ask " what should I charge? "

    More importantly know your costs. The rule of doing business is always to make a profit. To do that, you need to first know your costs coz that is where the word markup will come next.

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    Quote Originally Posted by oracle0711
    More importantly know your costs. The rule of doing business is always to make a profit. To do that, you need to first know your costs coz that is where the word markup will come next.
    Problem for most of us beginner is, who don't really know how to put a price tag to our efforts. For example, the camera we buy for a hobby previous gets invested into as a business asset, initially most of us treat it as $0 investment as it doesn't cost extra to us any more.

    Also, most of us didn't realize that this camera (and lenses) that we put into our business actually do wear & tear and need servicing, which in turn will become a cost to us.

    The time we used to work on photography goes beyond the actual shooting. It includes post processing, marketing, learning, meeting clients, site research, test drive equipment, researching... (That's all I can think off my head), and we are not directly being paid at those times, but aren't those our efforts to be paid?

    Just my 2 cent...
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  4. #4

    Default Re: So many ask " what should I charge? "

    In theory, yes, it is (cost + profit / number of shoot ) that determine what you need to charge per shoot.

    In real life, the charge depends on the market condition, your clientele as well as the perceived value of your work.

    Simple equation is If
    Value > Price, you will sell a lot
    Value = Price, you will sell at normal pace
    Value < Price, you will sell at very slow pace or no sale at all.

    You can always adjust your value by keeping the price the same to move from one category to another. I find that adjusting value is better than adjusting the price.

    This is unfortunately the real life of it. Real life isn't as pretty as many will think and real life isn't linear equation either...

    Sometimes, in the beginning, you charge at a rate just barely cover your basic cost + profit to get by, but if that is your value is, then you need to start increasing your value. Sometimes, as start, you do have to go negative to get some leads to move forward. Although the motivation of a business is always profit, sometimes it is better to lose some money in the beginning.

    For example, you will need to spend money for advertising before you even get any job. Many don't want that, and every one think that they should make money from day one. Unfortunately, unless you are so talented and the whole market like what you do, then this is not a luxury that you have.

    Go and digest.

    Regards,

    Hart

  5. #5

    Default Re: So many ask " what should I charge? "

    I've found the Pricing & Negotiating posts on A Photo Editor quite interesting. Even if one might never ever need to negotiate or quote for jobs similar (in content or scale) to those in the examples, I found it quote illuminating to take a look at how someone more experienced tackles the process. The posts are fairly transparent, with thoughts, estimates, etc. Of course, figures can't be simply applied to due to geographical/experience/various factors.

  6. #6
    Senior Member Dfive's Avatar
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    Default Re: So many ask " what should I charge? "

    This is another tool that can assist some people, and from a respected authority in USA.

    https://nppa.org/calculator

    Cheers.
    See my WTS items.. :) Any sales is by meet up face to face, payment is cash only.

  7. #7

    Default Re: So many ask " what should I charge? "

    Quote Originally Posted by Dfive View Post
    This is another tool that can assist some people, and from a respected authority in USA.

    https://nppa.org/calculator

    Cheers.
    Use these calculator as reference but never use it exactly. These are based in US and not Singapore.

    Different country have different conditions and that makes charging complex.

    But understand what clients need and want is a good start. Many don't even consider this.

    Regards,

    Hart

  8. #8
    Moderator catchlights's Avatar
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    Default Re: So many ask " what should I charge? "

    understand what clients' need is a good start,
    and know when to walk away is to keep you alive.
    Shoot to Live, Live to Shoot
    www.benjaminloo.com | iStock portfolio

  9. #9

    Default Re: So many ask " what should I charge? "

    Quote Originally Posted by catchlights View Post
    understand what clients' need is a good start,
    and know when to walk away is to keep you alive.
    hahahaha... also knowing when to say business is too difficult and looking for other source of income is a sure better way of keeping you alive.

    Running a business is not for everyone. To enjoy photography, sometimes, it works better to find a studio that you inspired to and work under their banner. Sure, you don't earn as much, but do remember, all you need to do is to enjoy the photography.

    it really depends on what you are looking for, if money is the first thing that you are looking for, there are many ways to make them. Photography tend to be difficult one as it is too personal.

    Regards,

    Hart

  10. #10
    Senior Member Dfive's Avatar
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    Default Re: So many ask " what should I charge? "

    I also think IF you want to succeed as a Photographer you gotta be able to run a business first....
    See my WTS items.. :) Any sales is by meet up face to face, payment is cash only.

  11. #11
    Moderator catchlights's Avatar
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    Default Re: So many ask " what should I charge? "

    Quote Originally Posted by Dfive View Post
    I also think IF you want to succeed as a Photographer you gotta be able to run a business first....
    any professional photographers will agree with you on this,

    in photography business, 80% is on business, 20% is on photography,

    if a photographer fails on photography part, probably he/she will still able to survive in this trade.

    if photographer fails on business part, is totally hopeless.
    Shoot to Live, Live to Shoot
    www.benjaminloo.com | iStock portfolio

  12. #12
    Senior Member Dfive's Avatar
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    Default Re: So many ask " what should I charge? "

    Quote Originally Posted by catchlights View Post
    any professional photographers will agree with you on this,

    in photography business, 80% is on business, 20% is on photography,

    if a photographer fails on photography part, probably he/she will still able to survive in this trade.

    if photographer fails on business part, is totally hopeless.
    Totally !
    See my WTS items.. :) Any sales is by meet up face to face, payment is cash only.

  13. #13
    Senior Member Dfive's Avatar
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    Default Re: So many ask " what should I charge? "



    Video tutorial : How To Talk Money With Clients For the First Time : with Ilise Benun ( 54 minutes long ).
    See my WTS items.. :) Any sales is by meet up face to face, payment is cash only.

  14. #14

    Default Re: So many ask " what should I charge? "

    just a hint. . .

    price can only be adjusted downwards so far, before incurring loss, or worse . but value can be built into the sky . so build value. "The Ultimate Selling Guide "
    宁愿遇见丢失幼崽的母熊,也不愿碰上做蠢事的愚人

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