I'm just starting to get a bunch of freelance photography jobs for myself, but there are some things I'm quite unsure about. This all came to me now when I was asked "What are your half day and day rates" ?
It is event photography (release parties, etc.), so nothing too fancy, but what I'm wondering is:
-How do I charge for a day/half day? I was thinking $300.00/half day and around $600.00/day. Is this reasonable? This is in Canadian dollars.
-If I'm only submitting high res digital files, for the day rate or half day rate, how many photos should I be handing over?
Unrelated to event photography, but how do I charge for usage? I was looking online and I found this guy has a whole break down of usage fees. Scroll down to the bottom to see. Are these average?
I'm in LA, so your situation may be different. My day rate is 1600 - 1800. Regarding what to hand over, this is decided ahead of time between you and the client.
My event day rate ranges from $1200 to $1600 in Orlando. Your rate seems quite low unless you're in a depressed market. Also, your half day rate should not be half of your day rate, but some higher amount such as half your day rate+10%. There is a difference between "half day" rate and half "day rate."
the rates quoted on that link are ridiculously low.
The other problem with quoting low rates like that is that it automatically excludes you from working for better clients. They know how much it costs to produce good photography and figure that if you don't, you are not of sufficient professional caliber to work with them.
I'm not making that up. I've heard this many times from people who actually commission photography; art directors, art buyers at ad agencies, and from direct clients; low rates get you excluded from the mix.
before deciding on how to price yourself, you have to know what your cost of business is. Even if photography is onl ya part time job for you, if you are smart you have to figure out what your total cost of business is or would be if if you did it full time.
Cost of doing business included your rent / mortgages; utilities, insurance (health, auto, professional liability, equipment replacement value, etc.) , taxes, equipment depreciation (including vehicle), salary (includign what you plan on paying yourself); advertising/marketing/promotion/sales; and retirement , and of course debt servicing, etc. After that you have to figure out how much profit you want your business to make. the profits are what you re-invest i nthe business to keep it going during slow periods, and to grow. You absolutely have to have a handle on where your money is going. As Dr. Dre says '"keep your mind on your money , and your money on your mind".
Even if you are Annie Leibovitz grossing a few million a year, you have to know what is happening with your money - it is the lifeblood of your business. She didn't and look at the bind she is in now: http://nymag.com/fashion/09/fall/58346/
Leibovitz update: On Sept 11, she got a one month extension on her payback date but in exchange for that had to buy back the rights to sell her own photos.
In addition she is being sued by multiple vendors for non-payment and in on case copyright infringement.
Haven't really seen anyone calling you a newbie, only providing solid advice with rational behind their logic. That being said, your rates are for sure too low. This is coming from the wedding side of things as I don't have much experience on the event side of things.
Once you have and use low rates you'll be stuck there cause that's what clients expect. Raise your rates to a higher level for all the reasons listed above or if you don't feel comfortable with your skill level to provide a high quality product to your client see if you can't get some gigs with other event photographers.
I agree that you are low. I would say at least double what you are asking. Of course you need to deliver the quality worth the price charged. Only you can decide what your work is worth.
There's an old saying: "I don't mind that the competition charges less; they know what they are worth."
As stated by jefferies1: Only you can decide what your work is worth.
thoe day & half day rates you quoted are my rates, but I still get people who suck all the air out of the room when I give them the price. I live in Cape Breton Nova scotia though and everyone here wants the world for nothing. it's the way it goes. houses also cost an average of $140,000 and standard of living is a lot lower as well though, so I don't mind doing it for that little at the moment. Sometimes when I get mad, I raise my prices though and it seems to have no effect on the amount of business I get, so maybe Its time to at least jump up 50%.
Brent wrote: You have to figure in the exchange rate for the euro vs. dollar. !
I always prefer the creative fee + licensing model over the old day rate model.
I think it's a much more accurate way to price things and let's you charge more if your using more brain power to produce the shot.
Sound advice and should be taken to heart. The more you charge, the more the client values your work. In the commercial world, clients expect to pay a high fee because they want the best photographer for the job. There's a lot at risk because your photography may be the main imagery that drives their campaign and increases sales. If you're asking for a low fee they will assume that you're really not any good. Charge more and stick to it.
I think there's also a saying that if 1/3 of your clients don't tell you your prices are too high, you're not charging enough. I don't know if that should be heeded advice or not though. I can see some sensibility in it. You will always get people who balk at every price you throw at them, but if no one is complaining, it makes you wonder.
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