Pricing for Head Shots

kevingeary

Hi,

I'm targeting the corporate and editorial portrait field. My current client base is business execs, authors, entertainers, etc.

I'm currently charging $249 for a one hour studio session that yields 5 to 10 high res files for digital use.

Can you give me some feedback on that price point? Is your first though that it's a fair price point for this type of work? Too low? Too high?

Thank you for any feedback you can give.

kevingeary

Anybody?

lensmole

I don't know your business, your profit margins etc . What is your break even point ? What are others charging in this market ? . You have to base your pricing on something that you can measure, if you can't measure it you can't manage it. Lets say you are selling coffee for $2.00 a cup and it cost you a $1.50 to make and you sold 1000 cups in a day you would make $500.00 . Now picture this scenario you decide to sell your coffee for $1.80 but it still cost you a $ 1.50 to make,now you have to sell 1600 cups of coffee to make the same $500.00 doesn't sound to profitable to me.

kevingeary

lensmole wrote: »

I don't know your business, your profit margins etc . What is your break even point ? What are others charging in this market ? . You have to base your pricing on something that you can measure, if you can't measure it you can't manage it. Lets say you are selling coffee for $2.00 a cup and it cost you a $1.50 to make and you sold 1000 cups in a day you would make $500.00 . Now picture this scenario you decide to sell your coffee for $1.80 but it still cost you a $ 1.50 to make,now you have to sell 1600 cups of coffee to make the same $500.00 doesn't sound to profitable to me.

Hi,

I based it off my current expenses, how much I need to make per hour, etc. I need a higher margin because I'm not planning on trying to win at quantity of clients. I know for a fact that I'll profit at that price point, but I'm not sure what others are charging in the area yet (I guess I need to do some competition research).

I've got a few clients at $249 so I know it's not totally out of the question, but I'm not convinced that it's the best price point for a decent conversion rate.

I'm in the startup phase right now so I haven't even had enough prospects to calculate a relevant conversion rate. I was just hoping to hear from someone off the top say, "you're crazy--that's too low" or "you're crazy that's too high" or "that sounds like a good starting point." Etc.

divamum

I can't comment on corporate, but for actors/performers, the typical package structure I have experienced as a client and that I see in the major markets is: XXX number of shots taken (or specified hours of shooting) + X number chosen shots = $XXX(X). Some people include retouching, some include disks of entire shoot; all include full reproduction rights.

In NY, you'll find decent headshot session packages ranging from $200-$2000; average is probably $600-800 for 2-4hrs of shooting yielding 150+ images from which the subject can choose 2-5 for use.

I personally offer two headshot packages:

- Mini package (ideal for students, quick one-shots such as corporate, or those on a budget) - 45 minute shoot w/1 included retouched image.
- full package: no stated time limit (although typically 3-4hrs), 3 included retouched images.

In both packages, extra retouched images are an extra fee; almost every client has been willing to pay for more than only the included shots, which has been nice.

I am not in NY or LA, but priced myself according to my local market; I started just under the median point for my area (which I felt was appropriate for my skillset and experience), and have raised my rates periodically with a plan to settle just above the median.

HTH!

ETA: Also, for my shoots the client makes any arrangements with makeup artist separately and direct - I put them in touch, but that price is set by the MUA, not me. Some (although by no means all) of the more expensive NYC shoots include the MUA in the price.

lensmole

I think it would be very helpful to know what others are charging for a similar service. I would also consider a minimum rate like two hours or something to help cover your travel expense and the time it takes to move from one shoot to the next and make it worthwhile for you and your client. Just my thoughts.

angevin1

kevingeary wrote: »

Hi,

I'm targeting the corporate and editorial portrait field. My current client base is business execs, authors, entertainers, etc.

I'm currently charging $249 for a one hour studio session that yields 5 to 10 high res files for digital use.

Can you give me some feedback on that price point? Is your first though that it's a fair price point for this type of work? Too low? Too high?

Thank you for any feedback you can give.

I think you're priced just about right! Though I wonder how many corporate types would really leave the sanctity (insanity) of their office for a Photo shoot for themselves, or company. I am down the road from you and priced well above you. If I were in Atl. I'd think my on-location price of $350 would be just perfect.

kevingeary

angevin1 wrote: »

I think you're priced just about right! Though I wonder how many corporate types would really leave the sanctity (insanity) of their office for a Photo shoot for themselves, or company. I am down the road from you and priced well above you. If I were in Atl. I'd think my on-location price of $350 would be just perfect.

I do location as well.

kevingeary

divamum wrote: »

I can't comment on corporate, but for actors/performers, the typical package structure I have experienced as a client and that I see in the major markets is: XXX number of shots taken (or specified hours of shooting) + X number chosen shots = $XXX(X). Some people include retouching, some include disks of entire shoot; all include full reproduction rights.

In NY, you'll find decent headshot session packages ranging from $200-$2000; average is probably $600-800 for 2-4hrs of shooting yielding 150+ images from which the subject can choose 2-5 for use.

I personally offer two headshot packages:

- Mini package (ideal for students, quick one-shots such as corporate, or those on a budget) - 45 minute shoot w/1 included retouched image.
- full package: no stated time limit (although typically 3-4hrs), 3 included retouched images.

In both packages, extra retouched images are an extra fee; almost every client has been willing to pay for more than only the included shots, which has been nice.

I am not in NY or LA, but priced myself according to my local market; I started just under the median point for my area (which I felt was appropriate for my skillset and experience), and have raised my rates periodically with a plan to settle just above the median.

HTH!

ETA: Also, for my shoots the client makes any arrangements with makeup artist separately and direct - I put them in touch, but that price is set by the MUA, not me. Some (although by no means all) of the more expensive NYC shoots include the MUA in the price.

Thanks for this. Any insight as to your rates?

divamum

I purposely didn't include mine simply because my market isn't yours, and it can vary hugely from region to region (and city to city). I'd check out your own area to see what the averages are *there* for your market, and set your own prices accordingly

lensmole

kevingeary wrote: »

Hi,

I was just hoping to hear from someone off the top say, "you're crazy--that's too low" or "you're crazy that's too high" or "that sounds like a good starting point." Etc.

Well if you live to be 65 years of age you will have lived a little over 570 thousand hours based upon a 24 hr day 365 days a year. Sixty five years sounds like a long time compared to 570,000 hours. Would you agree? So to answer your question based upon the information provided in this thread $249 verses $350 I would have to say that based on these numbers you are 40.56% too low. How does that sound to you ?