hey spidy....
here are some guide lines you can refer to depending on how professional or commercialised you are. you can also use this as a growth reference. since you are mentioned that this is the first time you are doing a paid product shoot. i would advise you to test the paying threshold of your own market. its always a game of getting closest to your client's spending ability. Its business, isnt it? ("/)here i am probably not gonna tell you how much to quote but more on what to quote. not forgetting to read my small prints too ... ok Here goes,
The Process.
Receiving the Request for Quotation
upon receiving the request for quotation, the client at this point would usually attached a document stating clearly the purpose of this shoot and the number of items, the size of the setup (if there are any models involved in some instances for watches or jewelleries) the number of photos required. the document would also include clearly the usage of the photo and the period of its campaign and the locality. this is called the photography brief. if at this point the client is clueless enough not to provide you any of such info. request. please also note that only use whatever i stated below is useful for yourself. there is really no one right formular to it.
The quotation
once you receive the photography brief. you will have a clear understanding of what you will need to include in your quotation. at this point, you spent some time getting the price for whatever you need to outsource. if you dont have them at your finger tips and ut together the quote.
Photography
usually this is a charge for the number of photo chosen by the client. the formular is (price of each photo X number of photo client stated in the photography brief.) this is the price of the service you provide to take the photo.
Loading Fee
if you ask me what this is, it is just how much you wanna sell this photo for. this is the value of the photograph for use in media or the price of the photo you buy off Getty Images. value of the photo not the service you provide to take it. this is also with reference to what types of media they are using it for ... and how long the exposure for each media and where is this campaign gonna be. Local or international? usually you only allow them to use your photo for a year. after that ... they will have to pay you for extension of the usage.
Digital Imaging (DI)
this is the tricky part and also the most time consuming. if the client expect you to do DI, you have to judge how extensive the work is and put a quote to it. and the price for DI is usually the same or slightly lesser then that of the photography service per photo. then again. if the client wants you to take a photo of an Ipod and makes it looks like a ninja turtle... BOY you are in for a big fat account. (figuritively speaking)
Art Direction
well this is when you are required to come up with a theme or propose the outcome of the photo to come in line with their theme. usually they will throw you a emotive word as their theme ... and you have to make their product seem so. example the company is launching a series of ladies handbag and this season theme is SEXY. ok dude... you are on your own.

thats about it. how ever there are a lot of art directors out there willing to spill their blood for you at a norminal fee. (do work with a few regulars so you sync in styles.) you have to include this fee if art direction is required
Producer/Production fees
this guy takes care of the client and the set and the quote ... and the briefs... HE/SHE is the super man/woman of the team... usually nickname TEAMBITCH. basically this person does everything else other then the specialised job scope of art directions, photography, styling, makeup and the sorts..... here is a producer fee... and depending on the project size... and how long it last . the fee varies .scout around for your favourite producer and my sincere advise..... FIND A REAL meticulous BITCH for this job

you will need one.
Studio/Photo assitant fees
does this shoot require any studio? will you need any assistants? if you are shooting a BMW in a studio setup.... WOO HOOO you will need 5 - 8 bangala.... carry studio lights ....powerpacks .. the lists goes on. (it would be nice isnt it to yell ard and feel like big brudder boss some time) here you charge the fee for studio rental. if you dont own one, find out the studio price and ifyou are going to mark up from it. assistants comes "free" (absorbed) if its a big project with one or two assistants.
Cost for props
do you need to buy a nice crystal glass to put the ring in to shoot? or the feathery mat with gold dust.... or the racing helmet to put in the BMW... or just lavender flower to go together with your lavender aroma oil.... so here you decide if you wanna absorb the costs or you bill the client.
Equipment
here is based on the requirement in the photography brief. you may need medium format cameras... 35mms... special lens....lights ... flash? are you renting these to your client at a cost? or is this going to be a cost if you go out to rent them.
Stylist/Makeup/Waredrobe
these guys here are usually avaliable on a free lance basis. go chill out at zouk winebar and talk to any gay men there will link you up to them HAHAHAHA. one off basis.... i am not too sure about the rates now. do post if you have an update.
Models
lastly models, you can approach agency if the client wants a particular model or you can ask any good looking friend to help for a small fee. and make sure you prepare the model release form and pay the model loading fee accordingly.
Thats all folks~~~~~~~~~
Footnote
after that you have to plan the shooting dates and a time line to deliver the photos. some times DI can be a pain. you may have to bear certain responsiblity if you do not deliver in time for their media campaign.
If you perceive photography as a skill to produce a representation of their product to help them sell their product... now the question is ... How much is your photo worth if your photo is going to make them money?
i hope this helps and hopefully some one WIKI this and makes this a better resource.
not forgetting to have fun while you are at it!
having been to this forum before and giving my outmost and personal judgements on certain events have received me some unwelcomed flaming.... so i must pre empt such post again by saying that whatever i suggested here is purely of my knowledge and my willingness to help another fellow photog. i may be wrong or overlooked some points i would welcome all friendly advises or replies. if what ever i mentioned above is similiar to any other posts out there it is purely by coincidence and should not be taken in to serious account. hehe lova ya all.....