Ever wonder how to price your work?
Some people would tell you to mark your products up a certain amount. Obviously we need to make sure that we have enough margin to cover costs and ensure profitability, but are our products and services only worth what they cost us?
Some people think that you should offer a low, middle and high package and set your middle package at your desired average sale. You may have also heard that you should set a la carte prices at a high level and then create packages that discount those prices.
No doubt, all of this can work. But does it make you happy to offer your work this way? And is it easy for your clients to buy under these structures? Is it easy for them to understand exactly what they are getting? Are you confident that these systems will give you exactly what you want to make or give the client exactly what they need?
Most photographers build pricing the same way they did back in the film days, where the primary value was having a medium format film camera and knowing what to do with the film. They were able to charge a small amount for photographing knowing that they held all the deliverables for ransom. I think we’re beyond this point.
What if you could avoid holding the images for ransom?
What if we could price not just for the paper (or files) but for the value behind our work?
What if we could radically simplify what we offer so that it makes complete sense to the client and makes the sales process easier for everyone?
The goal of this upcoming workshop is to simplify your overall business by helping you better manage expectations and build a business that makes sense to your clients. You’ll start making the sale and getting the client comfortable with the price from day one.
To have confidence in your pricing in specific, and your overall business in general you have to know what your goals are, and exactly what your plan is for reaching those goals. The purpose of Business 201 is to help you find that level of confidence.
Todd Reichman, Illinois
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Jamie and Todd Reichman established their business in November of 2005, after a few months of part-time work they opened their commercial location in Dunlap, IL and went full-time with their business. Within their first year they achieved top-performing studio numbers according to PPA’s benchmark survey and maintained top-performing status through 2010. In 2010 they relocated their business to Atlanta, GA and re-branded themselves to specialize in high-end, elegant, family-focused weddings. In 2012 they were named to Junebug Weddings Best of the Best list. Their wedding photography has been featured in Real Weddings, Nikon World Magazine, Occasions, Atlanta Social Seasons, Atlantan Brides, Atlanta Weddings, Destination I Do, Jezebel, Birmingham Magazine, Atlanta Southern Seasons, Inside Weddings, Get Married, Carats and Cake, Style Me Pretty and Bespoke Magazine.Todd is the instructor of CMU’s Business 201: How To Build A Business You’ll Love.
How to Build a Business You’ll Love starts May 12, 2014. Grab a seat while you can!