How to come up with prices?

[igcollection]

I am finally putting together my pricing sheet.
I have seen what many people charge in regards of wedding photography to portraits.

would you mind sharing with me how did you calculated your expense? profit margins?

I read a couple of books and it stated that i should include my dry cleaning as well among other little things that i dont' even think about.

Thanks in advance.

[Steelsun]

There's as many formulas to compute prices as there are photographers.

One of the "standards" of the product/service combination (which photogs are) is to price things on the 1/3 scale:
1/3rd of the price is the actual cost of everything you use to make the product (usually the consumables)
1/3rd of the cost is your over head (amortized equipment costs, rent, taxes, etc)
1/3rd is profit

Another one that is similar uses the 1/4 rule
each of the above is 1/4 of the total with the last 1/4 being "wages" which is considered differant from profit.

Now figure all those amounts out, and that would be a "fair" rate. Unfortunatly it seems many photogs take those amounts and then double it.

I can't understand how someone that is not a world famous photog with extreme limits on their time do to the demands on them for work can justify charging $150/hour labour, plus the price of the prints. Lawyers, doctors, yes, Photogs no.

[Clint_Smith]

Originally Posted by Steelsun

I can't understand how someone that is not a world famous photog with extreme limits on their time do to the demands on them for work can justify charging $150/hour labour, plus the price of the prints. Lawyers, doctors, yes, Photogs no.

I can....hell just pluggin in my small business totalls really opened my eyes....

cost of business calculator
http://www.nppa.org/professional_dev...db/cdbcalc.cfm

[mdurisseau]

Originally Posted by Steelsun

Now figure all those amounts out, and that would be a "fair" rate. Unfortunatly it seems many photogs take those amounts and then double it.

I can't understand how someone that is not a world famous photog with extreme limits on their time do to the demands on them for work can justify charging $150/hour labour, plus the price of the prints. Lawyers, doctors, yes, Photogs no.

I have to take exception with your last two statements...what you didn't take into account is lawyers and doctors really do not deal with the creativity aspect that artists, photographers included, do...Is your creative energy free?

[mdurisseau]

Originally Posted by Clint_Smith

I can....hell just pluggin in my small business totalls really opened my eyes....

cost of business calculator
http://www.nppa.org/professional_dev...db/cdbcalc.cfm

I tried the calculator myself...it's staggering what one would need to charge...