Pricing

Learning about Pricing

Since I've been working for the federal government for the last thirty three years, pricing hasn't been on my radar. Yes, when I wasn't on duty for the federal government, I've photographed weddings and other kinds of photographic assignments. For weddings; it was more as a second shooter, or as one of the contract photographers for a studio, where I was paid a hourly wage. Pricing prints and albums just wasn't required.

To develop my business knowledge, I've been listening to an audio podcast from the "Sprouting Photographer's website," its about the "business side of photography."

You can find it at this web address, http://sproutingphotographer.com/. The two main speakers Bryan Caporicci and Robert Nowell, also wrote a nice small book called "Pricing for Profit."

It's an easy read and goes over the basics for determining how to develop a pricing model for your studio. They work out the figures; for a theoretical home base studio, and, a retail base studio.

The book will cover the difference between; fix cost and cost of sales, methods for pricing, calculating business volume gross profit and how to develop your business financial plan and determine gross revenue. What would be nice, would be to include an Excel Spreadsheet that the user can change the figures around to see the effects it has on the bottom line of your business model. Maybe that's a project, I should be taking on myself.

IMG_2983.JPG