Welcome to Week Two: Pricing and Product

I’m working on my prices as well, but shouldn’t your matted prints be more individually than they are in the folio box?

Thanks for messaging and having me double-check my pricing. I think my pricing works because the packages also include a box. For example, my first package is six prints plus a box. Six prints a la carte are $1050, which means the box is “only” $50. At the next level, ten prints are $1750, which means the box is the remaining $150. The best deal, of course, is the highest. 20 prints a la carte is more than my $2800 top package. Of course, I do like the idea of increasing my single photo. Maybe to $200?

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Ya, I don’t know. That sounds good to me! Just asking, I have been stuck on the pricing part for a long time now. So I am going to dial it in for sure now!

You might be right though! I think perceived value is important, so I may up a la carte to $200 each.

I really like your website, nice work!

Thank you! It’s five years in the making, and it’s constantly evolving. But I do think it represents me and my business!

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ABOUT COSTS: Hello everyone. When listing your costs, how do you account for images that you don’t sell? For instance, let’s say I present 20 images to my client but sell only 6. Do you include all images related costs (editing, printing, framing…) in the seating fee, so you costs are covered doesn’t matter how many images do you sell? Or, how do you managed it? Sue says that the cost of an image should be 10% of the price charged, but I didn’t find information about the ones that we do not sell. Thanks!

If you’re doing a printed reveal of 20 prints, then you want the cost of goods (printing, mats, makeup, etc.) to be covered by session fee and your minimum package price. Say all of that costs you $150–to be at 10%, then your minimum package needs to be $1500.

I’m about halfway through her week four sales video, so I haven’t heard her 10% comment anywhere yet. My guess is that the 10% only accounts for what you sell, not images that go unsold. That means if it costs $15 to print and may a photo, then you need to charge $150 for it. That way, you still pay yourself $50, save $50 for taxes, and put $35 back into your business. (But multiply that because no one wants a one-image sale!)

On a printed reveal, chalk up unsold prints to new portfolio samples.

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Thanks @aaron_t. I guess de 10% rule applies to the whole cost of goods, as you said. She mentioned the 10% “rule” in the Pricing and Sell video

@aaron_t I have just viewed your full pricing list. Very well done. The flip video is wonderfully done is that you on YouTube? I got some great ideas from seeing this so thank you I was feeling lost as to where I should be price wise. I am a new photographer this is my first home studio. I say new I have been shooting for 20 years but new as in I am just finishing school and ready for business. I do feel a bit discouraged after getting a 69 on my images I submitted for the portrait masters. I not sure I am shooting good enough to charge it states almost at professional level. Thanks for sharing you price list I feel a bit behind but since we are home a lot I have time to catch up with our class discussion.

Thats a great question. Did you decided on your pricing? I am still unsure myself

Happy to help, @Carla64. I’m almost done the week four video on sales, and Sue mentions some important numbers and concepts. First, it’s all about averages. Does your average sale allow you to pay bills, invest in the business, pay taxes, and pay yourself. She details how each sale needs to break down to 33% personal income, 34% saved for taxes, 10% cost of goods, and 23% back to the business. If your average sale can allow the personal income portion to meet your goal, then you’re good! If you want to make $100k of personal income, then you really need $300k in sales for that year! Doing the math really helps make things real.

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@christalynn thanks for the kind words. The album flip video is just hosted on YouTube. I put my camera on a tripod looking over me flip the album on white seamless. Just natural light. Easy to do.

In Sue’s week four video she reminds that scoring below 70 doesn’t mean you’re not worth getting paid by clients. People buying your services and meriting in Portrait Masters are two different goals. I’ve only just joined SBE and didn’t even know about the adjudication options. I don’t think many of my images would merit above 70 or so. But I’ve certainly been paid by clients!

Don’t be discouraged. Just do the work, get some clients, and have fun!

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@aaron_t thanks for the kind words and encouragement. I to am new to SBE and have just graduated from AAU BFA Photography. I had no idea what to do to start or how to even begin. I am so glad I found Sue everything I did not understand she is teaching me or us all each week. You are very correct its two different things.
I am also learning portrait work I of course chose which one I loved to focus on my last two semesters but I still have seen through the videos how much I could still learn.
I got my home studio almost ready but I want take clients until we are done with our 12 week program.
How long have you been in business?

I’ve had a photo business for five years now, but it’s only really taken a profitable, sustainable shape in the last two. My first three years were shoot-and-burn, and I just really had no clue about things until I looked into in-person sales and learning about business. When I truly did the math on what it takes to make money for me, my business itself, and taxes, my eyes opened to what I had been doing wrong and where I needed to improve and change. For two years now, I’ve felt mostly confident in my business. SBE is helping me clarify and gain more confidence!

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Working on my pricing today :slight_smile: woohoo! How’s everyone else doing?

I remember the first time I heard Sue say this, it hurt a bit and I had to sit with it for a while. I’ve actually gotten 2 jobs while I work on building my business because my family and I just relocated to a new city and state, so I’m essentially staying over from scratch. Keep working at it, it’ll all work out!!

Question: When Sue says charge for your session fee and then charge for your packages, does the session fee come off the top of the package? For example, the video shows that a package with 10 images @ $1250 (minus $250 for a folio box) is $100 per image. But if the session fee (let’s say it’s $200) comes off the top, as well, then it’s more like $80 per image. Am I understanding this correctly?