HELP - I just got an offer of a lifetime and I dont know what to charge

[CtrlAltDel]

I have been on this forum for a while now and have learned a lot. I am an amateur and have never claimed to be anything more. I have been doing some candid shoots of families and some landscape shots here and there. I eventually upgraded my equipment, got a website and started charging nominal fees for my work. I sometimes dreamed what it might be like to be a "real" photographer full time, but that is as far as it went.

Today, right now, as I write this....all that has changed and I need help. I have never posted nor read anything in this section. They will be wanting my price VERY soon.

I work for an oil company and they saw one of my shots that I printed, at my desk. This oil company is growing fast and just bought a new building. They want to use me and my photos to decorate the entire new building (10 floors)! I am honored, I am stressed out, I am excited and I have no idea what to charge. Any help would be appreciated.

[WarrenG]

1st, no reason to be stressed out. There are a thousand possible options out there for pricing, and calculations on how to price this or that, what he or she may charge, etc.

To keep it simple I would ask you the following:

1) Are you doing this as part of your "day job" or as their photographer?
2) What exactly is the expectation? 10 images, 20, 100?
3) Are you providing the finished product (I.e. - Final framed print or other medium) and what will this cost?
4) How much time do you think you will need to get everything put together?
5) Will they let you have your logo on the image or frames for each print?

Answer all of those questions, then take the time you think you will need to do the job, and add on 50% more time, as you probably underestimated it. Once you add all your costs together, then come up with an amount that covers the cost, and profit. Your profit is the number YOU would be happy with since this seems to be (for you), a once in a lifetime event that you are pretty jazzed about.

You really need not worry about what I, or other photographers on here charge as your costs and overhead will be different than ours. You need to create a price point that will appease yourself, and not the members of this forum.

I will add that you want to be sure you are a legal business, and that you have insurance.

Have fun, and good luck.

W

[CtrlAltDel]

Originally Posted by WarrenG

1st, no reason to be stressed out. There are a thousand possible options out there for pricing, and calculations on how to price this or that, what he or she may charge, etc.

To keep it simple I would ask you the following:

1) Are you doing this as part of your "day job" or as their photographer?
2) What exactly is the expectation? 10 images, 20, 100?
3) Are you providing the finished product (I.e. - Final framed print or other medium) and what will this cost?
4) How much time do you think you will need to get everything put together?
5) Will they let you have your logo on the image or frames for each print?

Answer all of those questions, then take the time you think you will need to do the job, and add on 50% more time, as you probably underestimated it. Once you add all your costs together, then come up with an amount that covers the cost, and profit. Your profit is the number YOU would be happy with since this seems to be (for you), a once in a lifetime event that you are pretty jazzed about.

You really need not worry about what I, or other photographers on here charge as your costs and overhead will be different than ours. You need to create a price point that will appease yourself, and not the members of this forum.

I will add that you want to be sure you are a legal business, and that you have insurance.

Have fun, and good luck.

W

Thank you very much! I will start with your questions and work from there. I really have no clue what to charge. I dont want to overbid and shock them and I dont want to underbid and devalue myself and my work. I will try to buy some time and research this some more. I just dont want to lose this oppurtunity.

[corralup]

How exciting! Will you be going to the rigs on land as well as on water? Will there be travel expenses? I work for the industry also and go into many business with pictures on the walls of the companie's workers, machinery, drilling parts, rigs. This is huge and you must consider all that will consist in this offer. Who will do the printing, framing, etc? Also you must report this as income at the end of the year. Will you need a tax id? I'm not sure about that. How big do they want the pictures? 16X24? How many per floor?
I'll be coming back to this thread.
Congrats.

[CtrlAltDel]

Originally Posted by corralup

How exciting! Will you be going to the rigs on land as well as on water? Will there be travel expenses? I work for the industry also and go into many business with pictures on the walls of the companie's workers, machinery, drilling parts, rigs. This is huge and you must consider all that will consist in this offer. Who will do the printing, framing, etc? Also you must report this as income at the end of the year. Will you need a tax id? I'm not sure about that. How big do they want the pictures? 16X24? How many per floor?
I'll be coming back to this thread.
Congrats.

Thank you! I am so excited! They are in a meeting "considering" me right now. So "if" I get the gig, I can start asking them questions in detail. Unfortunately, it will only be land, as the company doesnt have anything offshore. As for the size, the prints they have in the old building are REALLY big, maybe 5ft by 5ft. Printing wise, I have only used BayPhoto and EZ prints thru my smugmug account. I dont know anyone else to use. Any suggestions?

[Angelo]

Wayne, I'm excited for you.
Is there a theme they would like you to use, say images of oil rigs, etc.?
Do they want to do each floor a different theme or a sub-theme?
Have you already taken the images you plan to use or do you have to go out and
take them?
Just questions that came to mind when I read your post.

Warren's questions are very important to help establish your costs thereby helping you determine how to price the job.

I'm sure there are many here that can help you. But, the worse thing you can do is rush to get them a price and make a mistake.

[WarrenG]

Originally Posted by CtrlAltDel

Thank you very much! I will start with your questions and work from there. I really have no clue what to charge. I dont want to overbid and shock them and I dont want to underbid and devalue myself and my work. I will try to buy some time and research this some more. I just dont want to lose this oppurtunity.

That is totally understandable. That is why instead of throwing out a number, I suggest you get more of the specifics (which will go a long way toward you seeming on top of the game). In addition, this will help feel them out on budget. You may try asking them if they have a quantity of images they had in mind (see question 2) and what type of budget they had on each image? They will probably respond with something a long the lines of "I do not know" or "what are our options" which means you will want 3 price points. Low, Medium, and High. I would make your low something you know they will not want so as to alleviate that option right off. If they are looking for say, 25 framed 16 x 20 prints (your medium point), you know your cost is going to be at least $75.00 each unit (that's $1.50 per linear inch of frame, plus your print cost - keep in mind, this is a bare bones example, not a price to live by) anyway, multiply that price x 25 units and they are already at $1875.00 (your cost) before any of your profit is tacked on (double to triple the cost depending on your overhead model).

Do not worry about scaring the business away. Give them a real price for YOU to do the work. If they get scared away then 1) They were not that serious about the offer or 2) It is not a client you want to work for anyway. Now keep in mind I am stating this from the standpoint of giving them a real price to do the work, not an over-inflated internet forum price.

Cheers,

W

[peeker]

Great advice Warren. Too many people in a similar situation would more than likely underbid themselves WAY too much and realize after it was all finished they 1. didn't make any money and/or 2. spent way too much time for the value the company got in return.

[jordankreationz]

I can't wait to find out how this all turns out. Sounds like a really great opportunity.

[ndsimm]

Warren has given some great info to start - what size images are in your current building? Are they photographs or art work? will you be credited with each image?

[StevenGWebb]

Anyone aside from me wonder how this worked out?

[groovyone]

Good question. Wayne, how did everything work out?

[CtrlAltDel]

All the excitement has worn off

I am still waiting to hear back from the board of directors.

Thanks for everyones advice! I hope I get to use it soon.

[CtrlAltDel]

WAHOOOO!!! I have been blessed beyond what I deserve!

Here is my first photo to make it anywhere online, other then facebook and my website

100 Fastest-Growing Companies 2011: Concho Resources - CXO - FORTUNE on CNNMoney

And I have been asked to be the company photog!!!!! My first assignment is going to be taking photos for our Annual Report!

Thanks to Pixtus and its members for all the great info and help!

[Melany]

Sweet!
Congrats :-)

Great info in this thread; stuff I can use too.