If one of your 2019 goals is to raise your photography prices, you’re in the right place!
All this talk of raising prices is exciting but you may be asking yourself how to even BEGIN with pricing your services in the first place. Whether you’re starting from scratch or just wondering if you did it right the first time around, we’re here to help!
Here are a few specifics to consider when it comes to setting those prices:
- Consider your time because time = money! Until you start valuing your time, your pricing won’t ever feel quite right. You may be going, “Guys, what the heck is my time valued at!?” and that’s okay! Start with an hourly rate. Then, add up the hours that a typical session takes you. Remember, this all starts with the first communication with the client, all the way to delivering every last bit of their session to them. Add up those hours and see where you land! We always recommend rounding up, btw. 😉
- Consider your equipment and skillset. If you’re renting lenses or any other equipment for weddings or sessions, make sure you factor that in to your pricing! As time goes on, you will get more experienced and confident in your photography services. Make sure you give yourself a little pricing bump to compensate for that!
- Consider your market. Whoa, hold up. We’re not telling you to go all “Price is Right” and set your pricing a dollar below your competition. We’re also not saying that you’re the “same” as others in your locality. All photography businesses are unique, but keep an eye out for what your competition is priced at and why!
- Consider the session details before providing solid pricing. This is exactly why we recommend “starting at” pricing on your website! Consider the full scope of the session before you provide final pricing. Because, let’s be real, an intimate 4-hour wedding is (and totally should be!) priced differently than a 10-hour wedding with rehearsal dinner and day-after coverage.
- Consider ALL expenses. Sure, sometimes you have to take a bit out of pocket before you make a profit. But, don’t let that be a habit long-term! Make sure you’re factoring in all of your business expenses, including taxes, marketing, and education when setting pricing.
Looking for some help with any or all of the above? Join us (and 300+ photographers) in the “WTF is Branding!?” Facebook group! It’s always easier to make decisions in your business when you have others to lean on!
While you’re updating your pricing on your website, check for these three brand + website mistakes!