How to pick the right newborn photographer part 3 | Pricing
All the tips this far really help define what a photographer – their talent, vision, and the experience they can give you – is worth to you. Now we'll dive into pricing!
Often we get stuck on the price when we're looking for a service or product. And more often than not, we truly get what we pay for.
Full disclosure – I charged much, much less when I was starting out, simply because I didn't do my math. I had my ducks in a row; I paid for licenses, insurances, etc right from the start because I wanted to make sure I was doing things right. But I didn't track how much time I spent per session, I didn't calculate how many (or few) sessions I could realistically do per year, I didn't check how much money the business had to bring in so that I could pay myself a salary on top of covering business expenses. I also didn't have any systems in place, or a consistent way of clients to sign contracts or pay invoices, and all that lead to was inconsistent service and client experiences.
Hiring a beginner who's building their portfolio can be great when you are on a tight budget. However, research tells us that about 60% of photographers quit their business within their first year! And only 15-20% make it through to their third year. So expect a cheap beginner to either a) hike up their prices when they realize just how much it costs to run a legit business, or b) to not be around for very long.
If you do work with a beginner who is cheap simply because they are getting their feet wet and are practicing or building their portfolio, please help them out by providing feedback about your session and pictures, writing testimonials and reviews for them, and spreading the word about them to your friends. That'll help them get out of the beginner stage and into successful business-ry faster.
There is really no magic number that would tell you that the photographer is charging enough to be running a legit business. The photographer has to take into account their business expenses, their living expenses, their partner’s income, taxes – all that to figure out what to charge per session, which makes everyone different. In the Bay Area I would venture that this would mean a minimum charge of $1,000 for an all inclusive session (session+digital files), unless the photographer runs a high-volume studio with very little customization per family.
Independent business owners also pay for their own health insurance, no one matches their retirement savings contribution, and they don't get paid sick days.
If a photographer is charging less than $1,000 for the full package, it might mean that their partner is actually paying for your photo session. It might mean they aren't paying taxes. It might mean they aren't insured. It might mean that they never take classes or workshops to improve on their skill – or to learn about newborn posing safety, for example.So while a cheap session might seem like a good deal to you in the moment, it may backfire later.
I'll dive into my numbers to show you a behind the scenes of my pricing:I spend a minimum of 15-25 hours of time per 2-4 hour session that I book. This means that I can only take on about 6 sessions per month on average to have time to run my business and do marketing, on top of doing client work. Some awesome months I book more, some a lot less, depending on the season.
At $1,275 per two hour session, my business would bring in $7,650 per month in an ideal world where I book 6 sessions every month. Sounds amazing, right? Until I deduct business expenses and taxes, which leaves me with roughly $2,500-3,000 per month. This would not even cover 1 bedroom rent in our building.
This pricing works for me because I'm in a household with two incomes. When our situation changes, my pricing will have to change. Maybe I want to start saving for college for a kiddo or two, putting away more for retirement, saving for a downpayment for a house, or traveling back home to Finland more?
The photographers who take their work (your pictures!), their education, their business – and most importantly their clients' experiences – seriously need to charge real money to be able to run professional businesses. They are committed to long-lasting success, which means that you can count on them again and again for priceless keepsakes.When the pricing seems too good to be true... Well. Now you know.