For our readers outside the USA— Here in the United States, Labor Day is a holiday celebrated on the first Monday in September and is generally thought of as the last throes of summer (although that actually won’t happen for a few weeks) and is celebrated with cookouts on the grille. Swimming pools are closing and if kids aren’t already in school, they’re getting ready to start with ‘Reading, ‘Riting and ‘Rithmatic. In reality, Labor Day is a celebration of the American labor movement and is dedicated to the social and economic achievements of workers who have added to the strength, prosperity, and well-being of their country.
Part of survival in the photography business is built upon pricing your services fairly and competitively. Many beginning photographers base their prices on what others in their area charge without considering the other photographer’s cost of doing business, economies of scale and their business model. Ehen they’re in a slump trying to pay the bills, photographers sometimes forget this kind of basic business practice. The problem with cutting prices when times are tough is that you might not survive. Please read my post: The Best Things in Life are Free?
There are lots of resources that can hel you with pricing your own work including NPPA’s CDB calculator as well as software such as Business Savvy Photographer. You can also participate in my mentoring sessions, where you can get hands-on and face-to-face advice about running a profitable business. Details are here. No matter how you do it, pricing your products and services should be fair, competitive, and deliver a return on your investment that allows you to support your family and pay any employees a living wage.
The bottom line is that if you don’t watch your bottom line, you can’t expect others to do it for you.
Look for my new book—On Photography: A Life in Photography—about the business of photography, later this year.