It will be a minimum of $800 for a shoot and package, so we will use that as a baseline to look at what goes into asking for that as price. Let's Break down the price We are going to do some breakout group to try to figure out some of these points. As a group make a shared google doc to keep track of what you figure out. Share the doc with me as real so I can see the results in real time. The Shoot 1. Time for the shoot Around 3 hours and a half 2. Pre shoot and post shoot time
About 2.5 hours
3. Total time 6 hours total. So about $50 an hour Take your total time and divide into $300 to determine an hourly wage for the shoot The Packages 1. What is the markup on some of the print items? 39 dollars for a 8x12 and they sell it for 200 2. What is the profit in the price for digital files? What is the Net profit from the package? Net Income What is the net income from the Senior Portrait photo shoot? Do you think that is a good/fair price? Running Your Own Business This is the big question. How many shoots do you need to do in a month to be profitable???? Let's break it down. Studio Overhead Studio lease in total $3,800. Equipment investments The average photographer usually spends about $4,000 on equipment. Employees Hair is about $150 for half a day. Makeup artists is about $100 per hour Supplies $579 Insurance/business license A business license in california is about $80 (50-100) Personal Overhead Rent The average rent cost in california is $1,500 Bills 2,060$ Average total utilities $305 Food Around $230 per month Clothing: The average monthly amount spent on clothing is $150 (1) family of four spends $1,800 Entertainment Does the math work??? Add up all of the monthly expenses for both personal and business, then divide it by 20(that would be 5 days a week for most months). That would give us an idea of what we need to make if we did a shoot every day. Do we need to do more or less? Do you think it is a good/fair price for the shoot?