In my experience in talking to, and consulting with hundreds of portrait photographers, the area of pricing their photographs, is the most difficult part of their business, that they have to contend with. If your prices are too low, you not only attract the wrong type of clientele, but you also may not make any money.
You can in fact lose money. If the prices are too high, you may not get any customers at all. Both of these scenarios are of course not acceptable.
So how do you determine your prices? To help us get to this, you should first ask yourself this simple question. How must should I charge? I will answer this for you. As much as possible!
One of the most important things that you have to do in your business is to set your prices. Most photographers totally get their prices wrong, and have price lists that are too confusing, and far too detailed.
Getting your pricing right will be crucial to your business success. Your prices for your imagery will determine what market you will attract, your brand, your competition, and the amount of money that you will earn.
Because this such a crucial part of your planning, make sure that you follow carefully the steps in this book.
Photography Business Coach
Being a photography business coach I have learnt that to develop your price list, the first thing that you need to do, is start to think differently. You probably set up your price list by guessing at numbers, or worse than that , you may have obtained a copy of a competitors price list and then made your prices cheaper! This is the exact opposite of what you should be doing.
A badly thought out price list will cost you money, and may even bring your business into debt. It will force you to work many hours without pay, and may even destroy your love of photography. Compiling a well thought out, and realistic price structure, will help to drive your passion, attract good customers, and help you achieve the financial success that you deserve.
Over the many years that I have worked on my business, getting the price list right, was always high on my list of things to do.
I have built a guide to building a solid portrait price list that you will constantly revisit over the years. But the price list that you are about to structure, will be your default. It will be the foundation of your business.
It has worked for many photographers from a variety of backgrounds and in many different locations.
Everyone’s pricing is different and it is up to you to determine what is right for your business.
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