5 Basic Tips on How to Price Your Photography
When starting your own photography business, it is important for you to set price rates for each photography service or package you are offering. The price rates can either attract and convince customers or turn them away. You have to price your photography correctly so your business can have a bigger chance at success.
If you are still planning to start your own photography business, then here are 5 basic tips that you should follow when setting price rates of your photography service.
Know what your customers want and expect
You have to carefully plan the services that you plan to offer to your customers. Do a research on what potential customers are expecting you to offer. Study also your competition and know what they are offering. Make sure that the prices you set are reasonable – not too high and not too low. Too high rates are big turnoffs while too low rates are questionable and might get customers thinking or doubting about the quality of service you can provide.
Offer different price rates
Some customers look into individual pricing rates while others love to avail packages. Say for example if you are into wedding photography, you need to offer price rates for pre-wedding pictorial, actual wedding and post-wedding party session. Additionally, you need to offer packages based on the budget of your clients. You can change the number of hours of coverage for each package or the number and type of products for the packages.
Give specific details
The details of the service or package you are offering should be clear. Be honest also with the prices, there should be no hidden charges or fees. If there is an additional cost for extended time of coverage, then make sure the clients know. Same details must be in the contract that you and your clients will sign if they decide to pursue in hiring you.
Set short term and long term profit goals
You should think in advance how much you need to earn, how much you want to earn and when you want to achieve it. Set short and long term goals like getting a return of investment within a year or two. Think also of how many customers you aim to have every week, month or year.
Consider your location
Photography services usually differ among towns, cities or countries. There are cities where photographers set higher photography price rates while there are those who offer same service at a lower cost. Your photography rates should be largely based on your location. Study the price rates being offered by fellow photographers in your area so you will know what rates are acceptable to the public. You do not have to copy their rates, just use them as a guide.
Setting the price of your photography services is overall important because it has a huge impact on how your business will succeed or fail. Focus and plan your pricing well. Do not forget to create your own website with all the details of your business and apply photography seo so you can reach out to more customers.