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Scaling Your Prices Up

Lesson 63 from: Launch a Successful Photography Business

Philip Ebiner, Will Carnahan

Scaling Your Prices Up

Lesson 63 from: Launch a Successful Photography Business

Philip Ebiner, Will Carnahan

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Lesson Info

63. Scaling Your Prices Up

Lessons

Class Trailer

Chapter 1: Introduction to Starting a Photography Business

1

Welcome

02:26
2

Why Do You Want to Start a Photography Business

04:40
3

What Kind of Photography Business Do You Want to Start

05:38
4

Important Personal Note from Instructor Will

02:25
5

Case Study Starting a Photography Business

07:43
6

Quiz - Chapter 1

Chapter 2: Basics of Starting a Photography Business

7

Introduction to Basics of Starting a Photography Business

00:52
8

Choose Your Business Name

05:29
9

Choose Your Business Structure

06:12
10

Register Your Business Name

01:47
11

Get Your Federal Tax ID

01:39
12

Get Your Business License

01:16
13

Get Your Business Bank Account

02:16
14

Register Your Online Accounts

02:17
15

Branding Your Business

02:18
16

Set Your Prices

12:56
17

The Photography Gear You Need to Start a Business

03:42
18

Case Study - Business Basics

24:42
19

Case Study - Equipment

10:05
20

Quiz - Chapter 2

Chapter 3: Get Your First Paying Clients

21

Intro to Getting Your First Paying Clients

00:44
22

You Need to Prove Yourself

01:30
23

The Best Place to Find Your First Clients

02:36
24

What to Charge for Your First Clients

02:44
25

On Set - Partnering with Other Creatives

01:57
26

On Set - Getting Work in a Competitive Environment

02:38
27

Use Your First Shoot Wisely

01:20
28

Case Study - Getting Your First Clients

07:55
29

Quiz - Chapter 3

Chapter 4: Create Your Photography Business Website

30

Introduction to Create Your Photography Business Website

01:05
31

Why You Need a Website and Platform Options

04:30
32

What Needs to Be On Your Website

07:32
33

Design the Perfect Portfolio

03:17
34

Case Study - Looking at Photography Websites

12:56
35

Quiz - Chapter 4

Chapter 5: Expanding Your Online Presence

36

Introduction to Expanding Your Online Presence

00:55
37

Use Instagram to Grow Your Business

02:29
38

Use Facebook to Grow Your Business

01:21
39

Get Listed on Google

03:53
40

Get Listed on Yelp

03:20
41

Get Listed on Review Sites

04:06
42

Using Craigslist to Get Work

03:01
43

Case Study - Expanding Your Online Presence

13:16
44

Quiz - Chapter 5

Chapter 6: The Photography Business Workflow

45

Introduction to the Photography Business Workflow

00:54
46

Step 1 - Meeting Your Client

03:32
47

Step 2 - Booking Your Client

05:53
48

Step 3 - The Shoot

02:28
49

Step 4 - Editing Your Photos

06:34
50

Step 5 - Delivering Your Photos

01:05
51

Case Study - Business Workflow

15:54
52

On Set - the Shoot

02:50
53

On Set - Backdrop Placement

01:13
54

On Set - Paper Backdrop Rolls

02:01
55

On Set - The Back Light

00:46
56

On Set - Interacting with Clients

04:58
57

Quiz - Chapter 6

Chapter 7:Scaling Your Business with Better Infrastructure

58

Intro to Business Infrastructure and Continued Growth

00:46
59

Productivity Tools to Make Your More Efficient

06:21
60

Get Business Insurance

03:55
61

Accounting Tools & Tips

04:20
62

Business Tax Tips

03:38
63

Scaling Your Prices Up

02:56
64

Use Conventions and Meet Ups to Grow Your Business

04:01
65

Case Study - Business Growth

11:04
66

Quiz - Chapter 7

Chapter 8: Selling Your Prints

67

Intro to the Selling Prints Section

00:56
68

Why Should You Sell Your Prints

02:18
69

Choose a Printer

02:59
70

How to Price Your Prints

05:33
71

Selling Your Prints Online

08:06
72

Selling Your Prints in Person

02:38
73

Wrapping up This Section

01:26
74

Quiz - Chapter 8

Chapter 9: Conclusion

75

Tips for Personal and Creative Well Being

04:38
76

Conclusion

01:45

Final Quiz

77

Final Quiz

Lesson Info

Scaling Your Prices Up

so you want to start scaling your prices up, you can't be at the same price forever. So we're gonna start by implementing it by half a year's. I usually like to up my prices maybe once a year, but when you're first starting out, you want to start to get the ball rolling a little bit again. This kind of goes back to our discussion earlier in the course when we're talking about what's the price range for your region. You don't want to start out pricing people, but you also don't want to stay stagnant. So you kinda have to like judge based on what other people are charging Again. I think I said I started 50% below a midrange photographer for your region and your style of photography, I think within six months maybe bump that up to 60% of that mid range photographer and then in a year get it up to 75 or even 100 depending on how you're doing and higher feeling. If you're not getting a lot of clients for those costs, You won't be able to keep bumping it up as quickly. But every year, if you...

're consistently getting more and more work you can start to bump up your costs now by how much it kind of depends on your market. Typically I bump my prices up every year by 20 to 25% and that's yearly and I've been doing that for seven years at this point I think for the first three years I was kind of staying stagnant at a certain price but every year I move it up and up and up and every year I get more and more busy. So again, this kind of takes time. This is another part where you have to be kind of patient about your prices, about getting more work. And it also helps about how you're keeping track everything Phil just talked about as far as accounting, we'll let you see how you're growing and you can kind of project and see how your business moves. If you see that you made more money in the last three months than you did in the month before those three months. Maybe it's time to up your prices a little bit. Maybe you've gotten to a skill level where people are willing to pay if you see that you've made less money or you're kind of staying in a middle ground. Maybe keep your prices the same, maybe think about lowering them a little bit. It's kind of a give and take and you kind of have to learn the trends as you watch your business grow or stay stagnant. So keep in mind that you gotta track it, learn it, see what other photographers are doing and kind of try and grow yourself. This is the business aspect of it, that is really hard to balance. People go to business school for years to get a handle on this. So don't feel bad about not learning this right away or doing the right thing, you got to experiment, try things, see what other people are doing. So keep an eye on your progress. Keep an eye on your accounting. Keep an eye on other photographers on air. Talk to people, Talk to your client, see if they feel the price is fair. Maybe nudge it up a little bit when people start to ask your prices. But keep an eye on it. And this is something you would be cognizant of if you want to grow over time.

Class Materials

Bonus Materials with Purchase

15 Tips: How Your Photography Business can be Adapted to Online Services
Start a Photography Business
Workbook
Worksheet

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