Justin: TJ, I think the number one question I get from new photographers trying to start their businesses is what should I charge? And I always feel like it’s a tough question to answer for someone else.
Intro thoughts:
Don’t charge right away
Survey the marketplace
How do you value your time?
Where to start with pricing?
Build up your client list before pricing your service.
Ask people you have photographed what they honestly would have paid for the service.
Don’t turn down a paid shoot even if it’s a low price. Overdeliver
Determine what TCO is for each product and service
Raise your rates every x amount of years
Resources?
Check other photographer’s websites
https://fash.com/costs/photographer-prices
https://www.format.com/magazine/resources/photography/how-to-price-photography
Comparison Template: https://docs.google.com/spreadsheets/d/1omwmi6yYQftj_yHSkIPJPhOL8tWR6tZPF2nc_0_jOjM/edit?usp=sharing
Figuring out TCO- https://docs.google.com/spreadsheets/d/1wt-AMz5gflK7CB7EEDw4LUykfsW0tHhvUG0wIxSEGVk/edit?usp=sharing
Action Items
Ask people you have photographed what they would have paid for the service you provided.
Make a list of photographers in your area and what they charge but don't just copy it.
Decide how much you’d like to make from photography, calculate how much time it would take and decide your pricing,
Recommended Reading:
https://personalmba.com/best-business-books/
https://daymondjohn.com/blogs/journal/daymond-johns-top-books-podcasts-and-resources-for-growing-your-biz?inf_contact_key=a8ace5af888ff24163e8aa8a83a07aa7b7af0999dac2af6212784c39e05d2aef
Little Red Book of Selling: 12.5 Principles of Sales Greatness - https://amzn.to/2yf0kpz
How I Raised Myself from Failure to Success in Selling - https://amzn.to/2xxBKjF
To Sell Is Human - https://amzn.to/2XCQnN1
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