Pricing stinks

[lynweber]

I'm doing my pricing for 2011 I know better late than never! But it's a pain the rear! Any suggestions? How do you set your pricing?

[Niresangwa]

Use a couple of approaches, perhaps.

First off, there's using a Cost of Doing Business Calculator I'm sure someone will offer a link to this to give you an idea of what you need.

Second, comprehensive web research to see what others in a 50 mile radius are asking for, and them temper that with how your work stacks up against them to at least approach market value.

Find some compromise between the two numbers that you can live with, and then see how the figure looks to you.

Despite what some people seem to think, there's quite a bit of work needs to go into this step initially.

You could look into the eBook Jim was touting a month or so back, Easy as Pie. As I recall though, it was pretty pricey for an eBook... I"m sure there are plenty of guides if you look hard enough.

[lynweber]

Originally Posted by Niresangwa

Use a couple of approaches, perhaps.

First off, there's using a Cost of Doing Business Calculator I'm sure someone will offer a link to this to give you an idea of what you need.

Second, comprehensive web research to see what others in a 50 mile radius are asking for, and them temper that with how your work stacks up against them to at least approach market value.

Find some compromise between the two numbers that you can live with, and then see how the figure looks to you.

Despite what some people seem to think, there's quite a bit of work needs to go into this step initially.

You could look into the eBook Jim was touting a month or so back, Easy as Pie. As I recall though, it was pretty pricey for an eBook... I"m sure there are plenty of guides if you look hard enough.

Easy as pie is pricey it could be worth it but I'm not sure yet. Problem with researching is NO ONE Post their prices online! I have a few photographer friends to look off of but they are further away. So then what do I do!

[corvus2606]

Originally Posted by lynweber

Easy as pie is pricey it could be worth it but I'm not sure yet. Problem with researching is NO ONE Post their prices online! I have a few photographer friends to look off of but they are further away. So then what do I do!

Pick up the phone and ask them

[lynweber]

Originally Posted by corvus2606

Pick up the phone and ask them

I always feel strange doing that but guess it is the only way. Do you identify yourself or just a "customer". I'm sure they have to do this as well.

[corvus2606]

Originally Posted by lynweber

I always feel strange doing that but guess it is the only way. Do you identify yourself or just a "customer". I'm sure they have to do this as well.

I would be honest but as always never give away more than you have to. just say you're doing some research on pricing of photographers in the local area for use in the future

[Jim Poor]

Originally Posted by lynweber

Problem with researching is NO ONE Post their prices online!

Oh baloney! Look harder. What area of Indiana, and what area of photography?

If you really can't find prices, call them. Tell them the truth, and if they give you any lip, tell them you'd rather price reasonably than undercut them.

For someone starting out, and who will actually implement the advice, Easy As Pie is great and will pay for itself time and time again. For someone who doesn't have the confidence to charge what they are worth, it will be worth nothing.

[lynweber]

Originally Posted by Jim Poor

Oh baloney! Look harder. What area of Indiana, and what area of photography?

If you really can't find prices, call them. Tell them the truth, and if they give you any lip, tell them you'd rather price reasonably than undercut them.

For someone starting out, and who will actually implement the advice, Easy As Pie is great and will pay for itself time and time again. For someone who doesn't have the confidence to charge what they are worth, it will be worth nothing.

Found four places that were able to tell me about their prices. I'm excited! They were very nice about it too! Seems they were willing to let me know a few tips too because your right no one wants to be undercut.

[andyw]

The only proper way in my opinion is to do a proper analysis of your cost of doing business, your projected assignments etc. and base on that.

By all means, once you have done that then look at the competition, but you have no idea what their own individual costs are. They may own their premises thus have no rent. They may be fiddling their taxes thus charging less, They be married to a multi millionaire and only doing it for fun (I wish). or any other reason.

Here is the link someone else mentioned http://www.nppa.org/professional_dev...db/cdbcalc.cfm

Make sure that all non fixed costs go in with a 10-15% uplift.

All I would say is don't price yourself low to get customers in the door. Your doors will close very quickly if you do so.

[Jim Poor]

Originally Posted by lynweber

Found four places that were able to tell me about their prices. I'm excited! They were very nice about it too! Seems they were willing to let me know a few tips too because your right no one wants to be undercut.

Awesome. Be sure to check them out if you can.