Pricing Your Photography
Pricing is the most stressful topic for photographers at every level. Too low and you burn out. Too high and you hear crickets. This guide gives you a framework for setting prices that are profitable and sustainable.
Step 1: Calculate Your Cost of Doing Business
Before setting prices, you need to know what it costs to run your business annually. Add up:
- Equipment: Camera bodies, lenses, lighting, memory cards, batteries (amortized over their lifespan)
- Software: Lightroom, Photoshop, creavio, accounting software
- Insurance: Liability, equipment, business insurance
- Education: Workshops, courses, conferences
- Marketing: Website hosting, advertising, print materials
- Travel: Gas, vehicle maintenance, flights for destination work
- Taxes: Self-employment tax (15.3%) plus income tax
- Retirement: If you're not saving for retirement, you're underpaying yourself
- Health insurance: A real cost that employees take for granted
Step 2: Determine Your Salary Goal
What do you want to take home after all business expenses? Be realistic but don't undersell yourself. A skilled professional photographer's work has significant value.
Step 3: Calculate Your Session Minimum
Use this formula:
(Annual costs + salary goal) / number of sessions you can realistically shoot per year = minimum per session
For example: ($30,000 costs + $60,000 salary) / 50 sessions = $1,800 minimum per session.
Step 4: Build Your Packages
Most photographers offer 3 packages:
- Base package: Your minimum viable offering. This should be at or above your session minimum.
- Middle package: Your "sweet spot" that most clients choose. Price it 40-60% above base.
- Premium package: The full experience. Albums, extra hours, prints. Price it 2-3x your base.
Presenting Prices in creavio
Use creavio's packages and pricing feature to create professional pricing presentations. Clients can view packages, compare options, and book directly. The visual layout makes the value clear without feeling like a spreadsheet.
Common Pricing Mistakes
- Charging by the hour: This punishes you for being fast and efficient. Charge by the session or deliverable.
- Matching competitors: You don't know their costs, quality, or financial situation. Price based on YOUR numbers.
- Not raising prices: If you're booked solid, your prices are too low. Raise them until you're booking 70-80% of inquiries.
Use creavio's revenue tracking under Money > Reports to monitor your actual earnings per session. If your real numbers are below your calculated minimum, it's time for a price adjustment.