another advice post

dimples453

Here's the deal.

My wife and I did a photo shoot for an event recently. The event organizer viewed the photos online and was pleased. The event company approached us and said they want us to be their "preferred vendor" for photography services. They want to sit down and discuss a rate structure. How do I approach this being photography is low margin (for the most part). I'm hoping this company is not assuming they would get a "cut" of the profits from our photography...any thoughts???

Shay Stephens

It can go two ways:
1) They want a cut. If you want to work with them, then raise your margin to account for this so that you walk away without loosing anything in the deal. Smarter might be you walking away better off, so raise the margin even higher.

2) They don't want to pay that extra cost, and decide they want you as a preferred vendor without any kickbacks. They may be just looking for a formal agreement on pricing from you. So give them one that you can live with for the term of the agreement.

Just make sure that when you make the agreement, you need to come out of the deal making a profit. If that does not or can not happen, then there is no deal. Thank them for their time, and leave.

Sam

Dimples,

I really hope Dimples is your wife's name.

If I understand your post, you’re going to sit down, and negotiate with a potential client without any upfront information.

Wouldn’t be my first choice. That puts you at a great disadvantage.

I would call them on the phone, and explain you need some information prior to a face-to-face meeting. Ask them what their expectations are, how many events, what is their current arrangement. Find out why they are talking to you. If they have a current photographer, ask what he / she is doing that they like, and what would they like to see improved on. Find out what kind of financial arrangement they are thinking of. Etc, etc.

This will give you time to contemplate their needs, and do any research necessary.

When you show up for that meeting you will have a good idea of what, you can, and cannot do, along with the rates you need to charge. You might even come up with some creative ideas to meet their needs they never thought of.

Margins are up to you. While I think it’s acceptable to error in your calculations for a job, I don’t find it acceptable to just toss out, or take will nilly any amount the client throws out

Only accept an arrangement that you believe will return a profit.

Them’s me thoughts.

Sam

Scott_Quier

Sam wrote:

Them’s me thoughts.

Sam

And, to my way of thinking, sound advice!

dimples453

Hey guys. Wanted to thank you all for the advice. My wife and I are going to sit down with them this weekend. Hopefully all goes well. I'll keep you all posted.

Scott_Quier wrote:

And, to my way of thinking, sound advice!

rossbilly

So, how did things turn out?

(We have our fingers crossed for ya')

dimples453

Worked out rather well. My wife and I were under the impression they wanted to "get a cut" of our profits for any events....but it turned out they just wanted to collaborate more so on the advertising side. Basically they use us as their sole photography outfit and we refer them to prospective clients. I came up with a simple idea that they liked (basically cross advertising...when my wife and I do an event we now pass out small business cards with both our info and our partner's event managment company) It has worked so far...the last event we did, managed to boost web traffic to their site.

rossbilly wrote:

So, how did things turn out?

(We have our fingers crossed for ya')