Having operated a successful business for over 25 years, I’ve realized there are a few critical requirements for maintaining and growing a profitable business. However, when starting a photography business, it’s easy to get caught up and find yourself running around in circles in an attempt to keep on top of things. One of these things is often pricing.
Determining what to charge for your photography can, at first, seem quite confusing. But once you understand how to work it all out, you’ll come to see it’s actually quite logical.
It may seem obvious, but you first need to ask yourself: ‘How many hours do you need to charge for your photography (each week)?’
If like me, you’d like to spend more time shooting and less time doing the maths, here’s a useful tool to help you keep track of the hours that need to be billed each week. Knowing this will really help you stay on track and adapt as your business grows.
How the calculator works
The pricing calculator below offers a simple way to total your monthly costs. Based on the hourly rate inputted, it calculates, how many hours you’ll need to work per week to cover your expenses. Once you’ve inputted your monthly expenditure, your results are shown at the bottom.
These results give an indication of how many chargeable hours you need to work each week to cover your monthly expenses.
Once you’ve calculated this, depending on the size of the job, you may also want to think about adding usage fees for some of your images. To learn more about this, you’ll need to watch our business course class ‘Business Skills’.