Every business has to price its services, and photography is no exception. But how do you set the price for your photography services? It’s a difficult question with many variables that can make or break your profits. Many new photographers struggle to find the best rate to draw clients but not over-charge.
In this blog post, we will discuss four tips for pricing your photography services so that you can take control of what people pay for them and make as much money as you can.
Calculate the Cost of Your Photography Services
Your first step should be to figure out the cost of your photography services. You do this by taking all expenses you incur during a shoot and dividing it by the sold prints or downloads.
But that’s not always an accurate number for what people pay for your images. If they want high-resolution files, then they’ll have to pay more, but even that price is largely dependent on the market.
Factor in Marketing Expenses and New Gear Costs
Once you know how much it costs for your photography services, you need to factor in marketing expenses (such as social media ads) and any new equipment or software you bought recently. That will help you establish a competitive price with what others are offering, and it will help you recover money spent on marketing.
Look at the Average Prices in Your Area for Photography Services
Now that you know how much it costs to provide your services, look around online or ask other photographers for an idea of how much they charge per hour or shoot. You don’t have to match their price. But it can give you an idea of the range your services should fall in.
Consider Location and Time Spent on a Shoot
Location is another variable that affects how much people will pay for photography services. If you’re shooting at night or somewhere without free parking, then you need to factor in additional expenses.
The time spent on a shoot is another factor to consider because the more hours you spend shooting, means less time you put into other tasks for your business or personal life. So, it’s important not to overbook yourself if at all possible.
