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Folks in USA/CAN: Have you raised prices?
Yes, once since 2020.
Yes, twice since 2020.
Yes, more than twice since 2020.
No, don't plan to.
No, am planning to.

Raising your prices

  
 
Oscarsmadness
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p.1 #1 · p.1 #1 · Raising your prices


I raised my prices in 2021. I do not want to do it again, but I might have to. How is the market looking for you?

Are you maintaining the same profit margins as you did pre-pandemic?



Sep 07, 2023 at 08:42 PM
tcphoto
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p.1 #2 · p.1 #2 · Raising your prices


I mainly shoot Commercial projects and they are quoted according to the number of shots, usage and term of use so they are individual estimates. One must reevaluate their pricing on a quarterly or at least a yearly basis in order to remain in business and I hope that the quality of one's work is always trending upwardly. Hence, your work adds value to your clients project, increasing revenue and deemed to be more valuable.


Sep 08, 2023 at 08:41 AM
pr4photos
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p.1 #3 · p.1 #3 · Raising your prices


Oscarsmadness wrote:
I raised my prices in 2021. I do not want to do it again, but I might have to. How is the market looking for you?

Are you maintaining the same profit margins as you did pre-pandemic?


I'd love to raise my prices. But the stark facts are that there has been a big downturn in demand for photographers since the pandemic - at least in my geographical area. Raising prices would be suicide for my business. I have got to try and ride it out. At the moment I can't see the good times coming back. So many of my photographer friends went out of business during the pandemic, and the ones that are left are struggling. I'm still down 50% on pre-pandemic profits



Sep 15, 2023 at 10:15 AM
fgphoto
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p.1 #4 · p.1 #4 · Raising your prices


I shoot a mixture of editorial and commercial work and while I have some editorial clients with set pre-negotiated dayrates (most of which have increased over the last couple years) all of my commercial project are priced depending upon project complexity, the number of images and usage so as my costs go up, and the related expenses of producing shoots, I raise prices accordingly.

I am also open with my clients and more than happy to explain that my cost of doing business has gone up so I have to charge more to maintain a healthy business.

I have had some clients over the years that have moved on when I raised prices, but that is part of being in business. Starbucks has raised prices, it costs more to get your car fixed, or buy a new car, shopping for groceries, etc. so it shouldn't come as a big shock to clients that costs have gone up for everyone and it's unreasonable for someone to expect me to be charging the same fees I was 5 years ago.

If clients expects me to produce work at a price that puts me in the red, then I need new clients.

A few clients dropped off the map for one reason or another during Covid, but that gave me an opportunity to build relationships with new clients so I've been pretty busy in the post-Covid rebound.





Nov 19, 2023 at 09:36 AM
 


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PJphoto
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p.1 #5 · p.1 #5 · Raising your prices


A Photo Editor just had a good post about educating clients about pricing which included the gem "It's easier to change your clientele than a client's mind about prices"

Check out the remainder here:

https://aphotoeditor.com/2023/12/15/educating-clients-on-paying-for-professional-photography/



Dec 15, 2023 at 02:09 PM
petersm59
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p.1 #6 · p.1 #6 · Raising your prices


If what you charge does not make you a bit uncomfortable, then you're not charging enough.

Work backwards, and be realistic.

How many billable hours can you actually work in a week?
How much is rent, insurance for your business, health, car, and home, software subscriptions, new gear upgrades, computers, hard drives, desks, pencils, printer, ink, shoes, clothes, food, vacations, 401K, kids tuition, etc...

Add that all up, divide by your billable hours, and add 50% for being good a what you do, or more if you've been at it for a LONG time.

Never let clients tell you what they'll pay. I stopped doing editorial work just for that reason.

We don't need credit, we need money. No shame in that.

The bottom feeders who do it for cheap make it hard for everyone else.

If you're good at what you do, your fee will not be an issue to clients who know the difference.



Feb 25, 2024 at 10:25 AM
bocaminus
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p.1 #7 · p.1 #7 · Raising your prices


Concentrate on clients that value quality over price.

Everybody has a budget...most clients will lowball you just to save cash for lavish out-of-town team party.

I never ask questions about budget...I only tell clients how much my services cost.

If your work is really good, you'll gain more respect by asking more not less.



Apr 18, 2024 at 05:22 PM
RoamingScott
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p.1 #8 · p.1 #8 · Raising your prices


I've always had the most success when I'm charging more than others around me. I know it's counterintuitive, but as long as your work is good, the higher price actually gives the clients piece of mind that you'll deliver what you promise. Lots of awful photographers out here skimming the bottom of the tank and delivering garbage.


Apr 18, 2024 at 05:45 PM







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