Creating Your Ideal Photography Business

 

Creating Your Ideal Photography Business

 

Lesson Info

Fine Art Prints Pricing Strategy Example

Now let's check out this one. Okay, 2016 pricing guide. High end, low end, what do you think? Are we looking at the really elegant restaurant or the diner? I'm thinking elegant restaurant here. Okay and it walks us through again, I love this one, step one, step two, step three. Only three steps, easy to understand. I know that this photographer's going to take care of me and walk me through this and make it easy. That's one of our filters, right? Okay, so here's what it says. Create your own collection pricing structure. What does that say? That says, I'm not gonna tell you exactly what you need, I'm gonna give you the freedom to choose. Some buyers really, really like that. So, our create your own collection pricing structure gives you the flexibility to design a portrait collection that best suits your needs. That says, I care about you and what you want and what you need. Firstly, select your digital file package. So this photographer's goal is to sell the digital files. It's not ne...

cessarily a bad goal. Let's look and see how they have it set up. Secondly, choose from a range of fine art products. And lastly, select any extras. Okay, so those are the three steps I have to go through as a buyer. So I have two choices to make, right off the bat. I can choose 10 digital images or I can choose the entire session. We're talking about $500 for 10 images, $800 for the entire gallery of 25 photographs. It's clear, so I know when I go into that session, that I can expect 25 great images from that session. They're laying it out very clearly for the client to understand. $500 to $800, it's not a huge jump. It's almost double, but not quite. So if all 25 images are extraordinary, I can see clients jumping from that $500 to that $800 pretty easily. If they have to give up 15 images for $300, if the images are great the client won't do that, they'll go ahead and go with this entire package. Step two, select your fine art portrait. So I think what's nice about this is this photographer is saying, yeah, I'm gonna give you the files, but you also really need to have something beautiful for your wall. So let's talk about that too and not forget this part. So, then we have sizes. We have a reasonable amount of sizes here. It starts at a 30X40, so they started big and they're working their way down. The prices, let's look at it. $400, $300, $240, $180, $150, $100. It's simple, they're round numbers. I would say that if you could make them even bumps between them so if you did $400 to $350 to $300. Make them just round, happy math. Everybody actually likes happy math, not just us. And so I really like how the sizes descend. The prices are good, round numbers. I think it's a really well laid out price list. And then you have prints and you have canvases. And so, again, I think you could eliminate this entire column by just saying, if you'd like a canvas, it's an additional $100. From $400 to $630, so maybe it's $200 to upgrade to a canvas. Clients like canvas, they're willing to pay for that. Okay, and then over here, we have the signature album. Now to me, this looks like, kind of an afterthought, a little bit. So I don't know if that's intentional, to put the albums off here, if it's not a focal product. But it's a little bit different than these other products. So one way that you could lay it out a little bit differently is to say, wall art, book art. And then you have two different pathways. Because in general, clients either really like wall art or they really don't like wall art. And if they really don't like wall art, they'll probably purchase an album. Some clients feel pretentious putting a big picture of themselves on their walls. Those typically aren't photographer's clients, but some people really do prefer to have something a little more discreet, off to the side. It doesn't mean they don't value photography, it just means that they don't wanna have it huge on their wall. So, by kind of splitting step two and saying here's the wall option and here's the book option, you could bring this in more. If this really is something that the photographer's not really into creating, pull it off the list, don't even offer it. Either bring it in all the way or take it out all the way, but kind of hanging here on the side is a little bit confusing to me. And then it says, I love how they just chose one album though. It's our signature album. It's 10X10, it's custom designed, and it includes 20 pages. Boom, that's what it is. So, and then it says 10 double page spreads because sometimes there's confusion between pages and spreads when we're talking about books. Then, the last option is select your additional items. So do you need mounted desk prints, do you need baby announcements, holiday cards, or thank you cards? So there's that thing, oh by the way, did you know we did this too? It's a beautifully laid out price list. It's very well executed.

Class Description

"If you're struggling to figure out the business process of photography, this class is one of the clearest and most concise I've ever seen. If you're experienced but the business side and pricing are eluding you, you will find clarity here. I own at least twenty CreativeLive courses and hands down, this one explains pricing and strategy better than any others I've purchased or watched live." - Julie, CreativeLive Student 
 
Join Kathy Holcombe as she shares techniques and strategies to develop the photography business you desire. Whether you’re making the leap from part-time to full-time or starting your very first business, the amount of work can be overwhelming. From what products to offer, how much to charge, how to pay yourself or the legal considerations - start ups often sink before clients are even booked. Kathy will show you the ways to grow your business from the start. This class will cover: 

  • Defining what product you are selling and how much you should charge to make a living 
  • Photography business basics and how to track your income compared to other businesses 
  • How to write and create your business plan 
Kathy Holcombe and her husband Peter built one of the top wedding portrait studios in Colorado, then jumped in an RV with the entire family and began traveling the country full-time, and added a successful commercial division. Together they have built multiple successful businesses and have honed in on the important factors that every photographer should consider when building a business. 

Lessons

1Class Introduction
2How To Price Your Products
3Which Products Will You Offer
4Methods For Pricing
5Mark Up Factors On Products
6What Is Your Per Hour Figure
7What Is The Feasibility Of A Product
8Target Sales Average
9Session Fees Pricing Strategy
10Minimum Purchase And Incentives Pricing Strategy
11Bundling Pricing Strategy
12Pre-Design Pricing Strategy
13Album Pricing Strategies
14Example Pricing List
15Business Basics Overview
16Tracking Product Lines In Your Business
17Track Your Session Counts
18Know Your Sales Average
19Importance Of Data Analysis
20Overview Of Costs
21Professional Photographers Of America Benchmark Survey
22Creating A Vision For Your Business
23What Do You Want To Accomplish
24Take A Leap Of Faith
25Refine Your Vision
26Products That Sell
27Identify Pricing Strategies
28Portrait Pricing Strategy Example
29Album Pricing Strategy Example
30Online Pricing Strategy Example
31Fine Art Prints Pricing Strategy Example
32Packages Pricing Strategy Example
33Sales Strategies Overview
34Portrait Sales Session Overview
35Sales Strategy for Portrait Sales
36How to Present Images to Client
37Sales Strategy for Wedding Sales
38Album Pre-Design
39Marketing: Define Yourself
40Who is Your Ideal Client?
41Who is Your Ideal Partner?
42How to Start a Partner Business Relationship
43Marketing Strategies that Work
44Product Lines: Business Plan Part One
45Workload: Business Plan Part Two
46Sessions: Business Plan Part Three
47Expenses: Business Plan Part Four
48Clients: Business Plan Part Five