Budgets

Q:

Since I’m just starting out in the business, should I price myself a bit lower and work my way up? Can I get away with a smaller budget and get the same results?

A:

Normally, newer photographers can take on lower-paying jobs to help build their portfolios. Right now, you may be competing for these lower-paying jobs with more established photographers, but if you’re willing to offer additional services like extra time, post-work, video, etc., you’ll have a better chance of getting the job. Ultimately, the client wants to be reassured that you can handle the project, so make sure to reassure them and be flexible with budgets.

Q:

Any thoughts on what to charge just for a GIF?

A:

Specific negotiation topics to consider when pricing a GIF:

• It’s not a free extra, as a GIF is a highly valuable commodity.
• Image count, which forms the basis of our fee structure, must be considered for the stream of multiple images.
• Be specific with usage, as a GIF is a series of images used together and may not be priced the same as individual images.
• Clarify which size of video or motion usage is included for quality performance.

Q:

I’m a Photographer in a small town, and I know I’m not charging enough. I don’t know how to charge more or reach bigger clients. I’m asking very low rates ($200 for half-day shoots and $400 for month-long progress images), but I’m still getting asked to lower my rate by people who want to work with me. How do I reach out to bigger clients, and how do I know what I should charge? Is there a simple formula or standard rates?

A:

We all wish there were a simple or standard formula for our rates. I can personally tell you that fee budget calculations don’t always make sense to equal out proportionally with the project. I’ve heard some photographers use stock image sites to see what they charge per usage, but we don’t have an overall chart for this. Based on the fees in your area, can you ask others what they are charging? My approach is how I know the average budget clients are spending, and then I speak on a human one-on-one level with a client to understand how high they can go within their budget. It is a numbers game where I try for more and use the usage terms for negotiation.

Q:

Thanks for your Monday 1/22/24 Low-Budget Job Checklist, helping me figure out what low-budget jobs may be worth taking. One area you didn’t cover is stock photography. Stock is always cheaper, but since it could lead to other financial gains like celebrity portraits for licensing on Getty or August, isn’t that a good idea?

A:

Stock photography is a perfect example of a lower-budget creative investment leading to larger payouts! Let’s expand my Lower-Budget Job Checklist – WHAT ARE SOME OTHER TYPES OF LOW-BUDGET SCENARIOS YOU DO TO BRING IN CASH DOWN THE LINE?

Clients usually cannot provide specific prices or amounts you need to present a range of options for them to advise bringing you up or down.

Overage fees for changes/additions are our responsibility to request financial coverage that is not already included in our approved budget.

Dealing with financials before agreeing to or starting the changed work is one of the many “unsaid” standard business practices covered by the photographer/director/producer.

I’m in a situation where we’re working with a client who constantly asks for changes. At the same time, they never mention the budget or how much the changes will cost. It’s always up to us to ask, inform them, explain the implications, and then get permission. It feels awkward, but it’s something we’re expected to do right away. Don’t make the changes and then ask—that’s riskier. Ask immediately because they want the changes to happen quickly. Make sure to cover yourself, even adding a bit of padding to account for potential changes. If this is a client who constantly makes changes, try to set yourself up to protect yourself.

Q:

Do you have to turn jobs away because of low budgets, or do you make it work? If you photographers are in a slow period, does that make you more open to taking on these jobs?

A:

I do have to turn jobs away regularly because of low budgets. 

My checklist to consider these lower-budget projects:

1. Can this lead to future larger-paying jobs with this client or others?
2. Is this a paid test that will benefit my photographer’s portfolio?
3. Will the usage rights be controlled to match the budget?
4. Would this be a regularly reoccurring client where fees add up as a regular gig?
5. Does adding the client name to your client list help?
6. Is there any chance of the low budget restricting the job quality, and if so, this is a definite NO WAY. 

Q:

I want a rep to help me get larger brand clients. I’m working with good mid-level clients, but I’m at the cusp and ready to see which larger clients I can work with. What steps should I take to find the right rep to help me take my career to the next level?

A:

Reps can open doors that may be tougher for a photographer to do themselves. The key is to find an agent who will see your talent as a potential income stream for both of you. Who are the reps who work with clients you can be working with? Do you match their branded style and fit within their roster? Do you have anyone in common who can recommend you to the rep? Have a short list, focus and engage, introduce yourself, and communicate on all platforms to see who is interested in your work.

You’ve been told the potential client’s budget, and you’d like to meet it but don’t want to be held to that amount in the future – use the words “Discounted Rate” as the best excuse not to guarantee that same rate next time. Even better, put a discounted percentage subtracted under your actual total to show the deal they are getting.

“Discounted rate” is a term used to protect oneself from future pricing when bidding for a job that has a lower budget than what it should actually cost. By taking off a certain amount from the total bid, one can still get the job, have the desired images for their portfolio, and protect themselves from future pricing demands. This approach is useful when the client is desirable and the type of images is beneficial for the portfolio. This way, the bidder is protected from being trapped into meeting the same requirements in the future. It is also possible to avoid listing out prices and just providing the total amount to be charged for the job.

Retouching rates leave ambiguity when it’s based on per image, so one way to protect your time spent is to make it a day rate. As you track your time, the client can be aware of the image(s) progression and even try to speed it along, helping them achieve more out of that 10-hour day they are paying.

When pricing retouching fees, it is important to be careful as clients and photographers may have different interpretations of what is being done, what is being supplied, and how many revisions are allowed. Feedback can become intense if not priced accordingly. One way to handle this is to charge a day rate for one 10-hour day, based on time instead of production level or the number of images. This makes it more about the retoucher’s time rather than the amount of images being worked on.