PhotoVision Free Video: Pricing Philosophy
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- Опубліковано 1 жов 2024
- Subscribe to PhotoVision today! PPA.com/PhotoVi.... Understanding how to build a price list is just as important as learning the technical side of photography. In this video, Sue Bryce discusses the evolution of pricing and the lessons she has learned over the years as a professional photographer. She explains how to develop a price list that reflects your confidence and value as an artist and how to reach your desired average sales. She shares her thoughts on sustainability and ways to make your upscale packages more appealing to clients.
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You're my favorite human. That is all.
Startup can be hard, so you were lucky. Just as I was getting my business license, the building owner sold to another commercial developer who through everyone out at the end of their lease. In my city I can’t rent anything. else because landlords want 3x rent for income, which I don’t make. I’m trying to figure some way around that.
Thank you. I'm getting paid.👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻
It's funny that I'm going through a similar process and you're like an oracle describing what I've been doing almost word for word haha
Wow! She’s a good speaker. I came here because I start my photography and make a pricing thru cost of doing business. But duno how to start the pricing
Hello, my name is George and I really enjoyed your message! I’m in need of a very good contact to use, are you aware of anyone on UA-cam or the internet that I can go to and glean their content??? Thanks in advance!!
I have a weak spot for that petite kiwi girl. She has more talent per square cc than most of us. She also has "le pti je ne sais pas quoi" that makes her irresistible to her subjects and partners all alike. And look at the stuff she makes!
Wow. I think I need to listen to this at least once a week. Amazing attitude and approach. Thank you!
Part 2 -
Below I am showing am example of how I figure all of my cost to come up with an hourly cost which is certainly not the end all be all. However, if you are a follower of Sue Bryce and watch her videos, especially the Creative Live vids, Sue is all over the board on how to figure what to charge and how to establish it. Below you will see a list of most of my equipement and expenses, which is broken down into an hourly cost. You will also see that there is 15% added to most items. For example the cost of a camera body goes way down in just a few years. So by added 15% of your purchase, this allow to to purchase a new body that maybe higher or afford you replacement cost should you drop, break or damage something. At the end you see a subtotal along with a total where my profit of 25% is added to come up with $170.75 an hour. If you shoot a weddings and it takes you 12 hrs. or shooting and 12 hours of editing, you times the $170.75 x 24 = $4098 and that would be what you charge your client or what your package price would be. This ensures that ALL of you costs are being covered without ripping people off. So long many weddings would you have to do to pay everything off? Simple take the 24 hrs (12 shooting and 12 editing and album creation) and divide that by 2080 and that is 87 events. But allow me to be clear, that while you are not going to use every single item on the list at every wedding or shoot, by doing it this way, in merely 2080 billable hrs., you have made enough money to cover everything on this list like me. Lastly, as you can see, I have a ton of stuff and it adds up to $170.75. If you listen to Sue in other video, she says she charges $500 an hour. Do you see the difference? Don''t engage in price gouging or profiteering, like her by increasing prices and doing less as she stated in this video. Be realistic with your pricing! How do I increase then? Well I hire you at say $100 an hour, bill you out at $200 an hour / 2080 = $0.0961 or $0.10 an hour as you would a sub or an employee. I just repeat and add more people and instead of doing Sue's 2 a week for a year (2 x 52 = 104 events), I am now able to do 4 a week. i.e. 208 x 24 hrs (12 shooting & 12 editing & album creation) = 4992 billable hours x $170.75 = $852,384.00 annually. This is how you grow a business and ensure that you are profitable! Pay you a great wage and doubling that, in a year (2080 hrs) now I can afford to hire another to shoot and repeat! Stop thinking and saying "I'm an artist!" You're profession is a photographer, someone who takes images and instead you are a business person! Start thinking like a business person!
Bodies Batteries & Grips
Nikon D5 - $6,496.95 x 15% = 974.54 + $6496.95 = $7471.49 / 2080 = $3.59 an hour.
MK-D5000 Battery Grip - $67.96
x 15% = $10.19 + $67.96 = $78.15 / 2080 = $0.04 an hour.
Nikon D850 - $3,296.95 x 15% = $494.54 + $3,296.95 = $3,791.49 / 2080 = $1.82 an hour.
Nikon D800 - $2,999.95 x 15% = $449.99 + $2,999.95 = $3,449.94 / 2080 = $1.66 an hour.
MB-D18 Multi Battery Grip for Nikon D850 - $67.96 x 15% = $10.19 + $67.96 = $78.15 / 2080 = $0.04 an hour.
Nikon D750 - $1,396.95 x 15% = $209.54 + $1,396.95 = $1,606.49 / 2080 = $0.77 an hour.
MB-D16 Multi Battery Grip for Nikon D750 - $59.46 x 15% = $8.92 + $59.46 = $68.38 / 2080 = $0.03 an hour.
Nikon D7200 - $996.95 x 15% = $149.54 + $996.95 = $1,146.49 / 2080 = $0.55 an hour.
Nikon D7100 - $996.95 x 15% = $149.54 + $996.95 = $1,146.49 / 2080 = $0.55 an hour.
Neewer MB-D15 Battery Grip Replacement for Nikon D7100 - $29.99
x 15% = $4.50 + $29.99
=$34.49 / 2080 = $0.02 an hour.
EN-EL15a Rechargeable Lithium-Ion Battery - $54.95 x 6 = $329.70
x 15% = $49.50 + $329.70 = $379.20 / 2080 = $0.18 an hour.
NIKON MH-67P Battery Charger - $49.99 x 3
= $149.97
x 15% = $22.50 + $149.97 = $172.47 / 2080 = $0.08 an hour.
Lenses
Nikon / NIKKOR - 24MM F/1.8G AF-S ED - $749.95 x 15% = $112.49 + $749.95 = $862.44 / 2080 = $0.41 an hour
.
Nikon / NIKKOR - 35mm F/1.4G AF-S - $1,696.95 x 15% = $254.54 + $1,696.95 = $1,951.49 / 2080 = $0.93 an hour
.
Nikon / NIKKOR - 50mm F/1.8G AF-S - $216.95 x 15% = $32.54 + $216.95 = $249.49 / 2080 = $0.11 an hour
.
Nikon / NIKKOR - 85mm F/1.4G AF-S - $1,549.00 x 15% = $232.35 + $1,549.00 = $1,781.35 / 2080 = $0.86 an hour
.
Nikon / NIKKOR - 24-70mm F/2.8G AF-S - $1,449.00 x 15% = $217.35 + $1,449.00 = $1,666.35 / 2080 = $0.80 an hour
.
Nikon / NIKKOR - 70-200mm F/2.8G AF-S ED VR II - $2,496.95 x 15% = $374.54 + $2,496.95 = $2,871.49 / 2080 = $1.38 an hour
.
Tamron SP 70-200MM F/2.8G Di VC G2 - $1,199.00 x 15% = $179.85 + $1,199.00 = $1,378.85 / 2080 = $0.66
an hour.
Speed Lights
Nikon SB 910 Speedlight Flash - TTL - 34m - $724.00 x 6
= $4344.00 x 15% = $651.60 + $4344.00 = $4995.60 / 2080 = $2.40 an hour.
Strobes
PROFOTO B1X TO-GO KIT - $2,095.00 x 6 = $12570.00 x 15% = $1885.50 + $12570.00 = $14455.50 / 2080 = $6.95 an hour
.
Reflectors
Neewer 43-inch/5-in-1 Multi-Disc Reflector -$19.99 x 15% = $3.00 + $19.99 = $22.99 / 2080 = $0.01 an hour
.
Other
PocketWizard PlusX
Transceiver - $89.00 x 8 = $712.00 x 15% = $106.80 + $712.00 = $818.80 / 2080 =
$0.39 an hour.
Phantom 4 Pro V2.0 - $1499.00
x 15% = $224.85 + $1499.00 = $1723.85 / 2080 = $0.82 an hour.
Mavic 2 Pro - $1499.00
x 15% = $224.85 + $1499.00 = $1723.85 / 2080 = $0.82 an hour.
Associates
Model - 4 hr shoot @ $100 an hour = $400 x 35 (shoots per year) = $14000.00 x 15% = $2100.00 + 14000.00 = $16100.00 / 2080 = $7.74 an hour
.
MUA - 1 hr per shoot @ $100. 00 an hour x 35 (shoots per year) = $3500.00 x 15% = $525.00 + $3500.00 = $4025.00 / 2080 = $1.93 an hour
.
Photographers - $150,000.00 annually gross / 2080 = $72.11 an hour
.
Retirement - $2000.00 x 12 = $24,000.00 (annually) / 2080 = $11.53 an hour.
Insurance - auto - $150.00 x 12 = $1800.00 / 2080 = $0.86 an hour
insurance - medical - $300.00 x 12 = $3600.00 / 2080 = $1.73 an hour
Studio & Equipment
Rent - $1200 x 12 = $14,400.00 x 15% = $2160.00 + $14400.00 = $16560.00 / 2080 = $7.96 an hour.
Insurance - $150.00 x 12 = $1800.00 / 2080 = $0.86 an hour
Utilities (average variable monthly expense)
Water & Sewer $55.00 x 12 = $660.00 x 15% = $99.00 + 660.00 = $759.00 / 2080 = $0.36 an hour.
Electric $150.00 x 12 = $1800.00 x 15% = $270.00 + 1800.00 = $2070.00 / 2080 = $0.99 an hour.
Natural Gas $75.00 x 12 = $900.00 x 15% = $135.00 + $900.00 = $1035.00 / 2080 = $0.50 an hour.
Phone - $150.00 x 12 = $1800.00 x 15% = $270.00 + 1800.00 = $2070.00 / 2080 = $0.99 an hour.
Cable - $80.00 x 12 = $960.00 x 15% = $144.00 + $960.00 = $1104.00 / 2080 = $0.53 an hour.
Trash - 50.00 x 12 = $600.00 x 15% = $90.00 + $600.00 = $690.00 / 2080 = $0.33 an hour
Computer & Equipment - $2000 x 2 = $4000 x 15% = $600.00 +$4000.00 = $4600.00 = $2.21 an hour.
Adobe CC - $9.99 x 12 = $119.88 x 15% = $17.98 + $119.88 = $137.86 / 2080 = $ an hour.
Sub Total Overhead listed above $136.60 an hour
Profit - 25% x $136.60 = $34.15 + $136.60 = $170.75
I agree. I've seen some photographers on YT charging a lot of money for crap! I no longer underestimate my work.
Some photographers? I see tons and daily! What is worse is that they proclaim to be an "artist". Yeah, okay whatever. More like a "professional hobbyist" but okay. Each year on average, we get some 250 inquiries to shoot my fashions and other photography projects. Most of their work sucks or is average, but they want thousands of dollars. Due to that I was forced into digital photography back in the early 2000's when I took over a failed women's clothing design business. Ironically, 2 photogs and 2 models had a nice scam going on which drained the former owner, a single mom who was trying to supplement her income to care for her kids. Their work sucked and they were into price gouging, profiteering, as well as deceptive business practices defined by my state under consumer law provisions. It ended up in court and I counter sued. Their case got thrown out due to price gouging, profiteering, deceptive business practices including having a one-sided contract in favor of the supplier, failure to provide an itemized quote, not complying with provisions of law under accepting deposits, not being a registered business, failure to pay taxes on their income (tax evasion) on the local, state and federal levels, ect to say the least. They were not artists, nor photographers, but scammers! I netted over $100K in damages, which I had my lawyers take my settlement and give it back to the woman who stated the business as she used her retirement money to start it.
Most see my business as a women's fashion design / retail store. But it is really an outlet to advocate and educate not just our customer on what we sell, but photography and business. We provide opportunities for models to learn as well as make a fair wage, as well as how to deal with photographers. On the flip side we provide the same to photogs but take it a few steps further to teach them business by parting with the art, as well as educate them on not buying into the so-called industry craps of "I'm an artist" (yeah that is why you are doing TF work with models because most can't afford to pay them because they have no real end product and forget they are a service provider), you cannot give RAW image files, never show anyone any unedited images as they might think you are not as good as what you are charging, everyone is out to steal and alter your work, take hundreds of images but only give them a few, "I own the copyrights damnit" watermarking images not to show the original image, but to advertise your photography, and the list goes on. I don't engage in that crap and while they keep buying into that stuff, I'm making damn good money providing more value for what I charge.
I am so glad that one of my classmates introduced me to you and your brand, you are a Godsend and amazing. Keep on keeping on, Sue Bryce
If it wasn't for arthritis, I'd kick myself for selling my 500C decades ago.
Sue, I’m new to you via UA-cam. You are a beacon of the purest light in a world of muddy slime, darkness and dishonesty. M O R E PLEASE!!
Thank you for being an exemplary human, professional, woman, kind and authentic person!!!
Fantastic!!! She’s amazing and so smart! I love it!!! That helped a lot!!!!!
Really great advice!! Especially now when im about to discuss prices for an upcoming wedding.
Brilliant in every regard.
I can't believe more people haven't watched this video. Golden information.
Wow that is a massive and profound wisdom -value- it is.
I’m bookmarking this to share with those who undervalue what they do. So good.
Amazing value here, thanks Sue for the inspiration
I needed to hear this, thanks!
Love ya!
Another valuable advise from Sue, Love it!
why the wind machine??
Why not? She looks amazing, so the wind machine adds value.
Well, the tide's gone out in 2020. And, a lot of businesses are going out. In my states bars have not been able to open for about six months. Restaurants have opened and closed. Presently they can open at only 25% capacity. I have a really hard time booking portraits or getting models to work even with all outside shoots. because they're afraid of the virus, and I can't blame them. So, it's difficult.
Thanks for your comment Romie. I think there is a large community of people in your exact situation and there is no telling when things won't be as difficult. I'd love to encourage you to check out our "In It Together" Playlist on UA-cam where we share conversations around navigating the current times and industry with new precautions and real fears in mind. I hope you'll find even a sliver of inspiration to hold on!
@@ourPPA That sounds interesting, but all I get under playlists, in it together is music vidos and childrens' stories.
And the church said......Amen!
I love this Sue
Amazing woman.
Thank you
Very outstanding lecture.
I feel like you just told my story back to me lol You are captivating and so bright. God Bless You XX