Figuring out how much to charge clients is a struggle shared by many photographers, particularly if you’re trying live off the fruits of your craft. In this 30-minute episode of their Picture This Podcast, photographers Tony and Chelsea Northrup spend half an hour discussing this topic and sharing advice.
There are all kinds of fears and anxieties that rise up when pondering the problem of pricing, the Northrups say. You could worry about overpricing your potential clients away, or underpricing and missing out on potential profits.
There are many different things you can consider when trying to settle on a fair price. Here’s a quick rundown of the subjects and tips covered in the episode (watch the video above to hear the duo elaborate on each one in more detail):
- Confidence: Be confident and know your prices.
- Location: Research and understand your location and customer demographics.
- Time: Know how much time things take. It’s east to underestimate.
- Perceived Value: Underpricing can give your photos a perception of lesser value.
- Expenses: Know exactly how much your expenses are.
- Competition: Be aware of how much direct competitors are charging.
- Experience: Make sure you have the experience to back up your pricing.
- Final Product: Control your final artwork because your name will be on it.
- Fees and Markups: Make sure you get fair compensation for extra work and services done.
Tony and Chelsea also discuss various pricing models that photographers use.
If you’d like an idea of how much actual photographers are charging these days in the US, Tony also looked up listed prices of photography businesses in his area of Connecticut.
“Please, please take the time to figure out what you’re worth,” Chelsea says in conclusion. “Look at what other photographers in your area are charging, think about your business model and how you can deliver a final product to your clients, and then charge enough to live.”
If you found this information helpful, you can follow along with the Picture This Podcast by subscribing to the Northrups’ channel on YouTube.