Nowhere Man Online Image Upload: On
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As Pyro stated, don't undercharge!
Another thing to think about (at least for me) is their email. If you cut/pasted directly from their email, they come across as unprofessional (grammar errors, poor writing) to run a serious business and have no idea what they are getting into.
I was asked by several friends in the skateboarder/surfer world to do the same thing. They were starting clothing companies with dreams of becoming the next Hurley. Pretty much every skateboarder/surfer in the world has tried to start their own clothing line at one point or another, and 99% of them fail miserably within the first year. So keep that in mind when you set your rates, in case your thinking they might keep coming back to you if you give them low rates the first time.
It sounds like you might not be prepared though. Besides the rate thing, you have to know if you have the right equipment, hire makeup/hair person for the shoot, coordinate an entire day of shooting with multiple models and clothing changes, find a location, probably should have an assistant available to handle things like off-camera flash units, scene prep, etc. and then you need to work out how they want all the images processed. What kind of look are they going for? Something simple or very specific? Are you going to handle post-processing or is someone else?
Also, they claim you can do the shoot in 3-4 hours. How do they know how much time it will take for the shoot? You might have an hour just in prep time of your gear, driving to the location, etc. YOU need to tell them how many hours the shoot will take, but only after you get very specific details about what they want. Then tell them you'll get back to them with an estimated time & cost that will be involved.
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