Research your market
Take a look at other photographers’ websites in your area to get an idea of what common local rates look like. Keep in mind that you probably can’t charge full prices when you just get started, but don’t sell yourself short, either. You don’t want to devalue the work of other professional photographers and make it harder for yourself to raise rates later on.
On the other hand, you should also fairly evaluate the quality of your work and service. As you book more work and gain more experience, you can raise your rates to reflect this.
Also, consider the market saturation in your area for a given type of photography. It’s much more difficult to break into competitive markets than those with fewer working photographers. Your city may have plenty of wedding photographers but very few fashion photographers, for example. Look for opportunities that align with your skillset.
Consider the overhead costs and more
As you set your initial prices, remember that you’re running a small business as a professional photographer.
Your prices should reflect the costs of running a business, such as the space you use, equipment fees and rentals, marketing, travel time, gear insurance, and taxes. These costs can accumulate quickly, and if you don’t prepare for them now, it will hurt your earning potential.
You should also consider the amount of time you’re asked to shoot, as well as your editing time. These considerations will vary widely across the genre of photography, location, and clientele. At a minimum, you need to cover costs for the appropriate camera and lenses for a job, a computer, software to edit images, and your time investment. Keep a detailed spreadsheet of your equipment inventory and any venue and equipment rentals.
Remember, if you book a Peerspace studio, you don’t have to worry about its utilities, hidden charges, or membership fees.
Per job, per hour, per photo
Consider whether you want to offer your services as a flat fee for an individual job, break it down by the hour, or charge for the number of photos delivered. It’s best to find out which structure is most often used by other professionals in your field of photographic experience and price your services accordingly.
However, you may find that one client will hire you for a specific job, regardless of how long it will take, while others will offer you an hourly fee. For example, commercial photography jobs are generally priced per image in the project, while event photographers are paid by the hour.
Be flexible when looking for work, and consider what your product is worth in each of these pricing structures. If you don’t have a perfect sense of the time investment necessary for a given job at this point, don’t worry — you’ll better calibrate your own estimates as you get more experience.
Next, learn everything you need to know about commercial photography pricing!
