How to Do Pricing As a Photographer

Determine your costs. Whether you have opened a studio with new equipment or are working out of your home, you first need to have a thorough understanding of the costs associated with your business. These costs should include items like rent, utilities, transportation, insurance, equipment, property taxes as well as expenses related to promoting your business like advertising, website, professional associations and networking clubs.

Break these numbers down to a daily or hourly rate. This is the amount of money you need to earn on a daily basis to sustain your business; at this point it does not include a salary or earnings for yourself.

Research your competitors to determine what they are charging. This will give you a sense of your market and what the consumer is willing to pay for photography in your area. Try to obtain rates from photographers who do the same type of photography you want to practice.

Determine what you want to personally earn on an hourly basis. Add this amount to the hourly rate for your costs; add an additional 20 percent to this amount and see how your rate compares to your competition. If your rate is in a similar range then you know you are competitive. If your rate is substantially higher then you need to review your costs to see where you can trim. If lower, review your costs to see if you are including everything. Keep in mind that consumers may not be willing to pay the same rate for a photographer who is just starting out compared to one who has been in business for years.