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Photographers! Here’s how to figure out your pricing in 5 quick steps!
January 17, 2024
“You have to price yourself similarly to your local competition”.
This is one of the biggest myths that I hear all the time from my small business photographer clients. I know that trying to price your photography services can be a pain in the butt…
Unless your local competition is business savvy and has created a financially thriving photography business, you probably shouldn’t be copying their pricing strategy.
Here’s what to do instead
- STEP ONE: Sit down and figure out your COBD (cost of doing business). You have to figure out how much you need to make before you can figure out what you need to charge. Check out this basic PHOTOGRAPHER PRICING CALCULATOR that I have created. Don’t forget to make sure you’re setting aside enough for federal and state taxes.
- STEP TWO: Don’t freak out, if your business is newer this number is likely going to shock you a bit. Just trust me on this one, the earlier you understand what you need to make the faster you can create a business that can reach those goals.
- STEP THREE: Now that you have the yearly income you will need to generate you are going to want to figure out what you need to make each month. Divide that yearly income by 12 = your monthly goals.
- STEP FOUR: Now that you have your monthly income number you need to figure out how many sessions you can comfortably take each month to maintain at least some work-life balance. Divide the number of sessions you want to take by the monthly income, and you will find HOW MUCH YOU SHOULD CHARGE for each session.
- STEP FIVE: Now that you know your per-session amount, you will have a better idea of how to structure your pricing. In theory, this “per session” amount is the minimum amount you should charge for each session. If you offer multiple packages this should be the price of your lowest package. But if that doesn’t feel quite right for your business can modify your pricing accordingly. Seeing that number on paper makes it so much easier to feel confident pricing yourself the way you should.
Need a little guidance as you update your pricing? You know where to find me 👋
Want to learn how to ELEVATE YOUR CLIENT EXPERIENCE FOR FREE?? Check out the blog post.
Hey Friends, I’m Becci, Owner of Becci Ravera Creative
I’m a Cali girl with a touch of Southern roots, currently falling in love with Oregon. I’ve been known to wildly chase dreams, especially the “crazy ones” … Ask me about that time I made my family travel the US in an RV for almost 3 years!
After a decade of running a successful photography business, even while traveling full-time, I realized, almost by accident, that my real love is helping other small biz owners navigate through the usual hang-ups that come with running a business. From custom branding + web design to business organization + marketing, I am with you every step of the way. Helping others with their dreams is my love language (well, that and chips), so what dreams are you holding out on? ‘Cause I’m ready to show you how you can make them a reality!
