Starting your own business can be an incredible journey. Getting started has its challenges, but you have to start somewhere. As a new photographer, this means you may be searching topics online like "How much money does a photographer earn?" or even "How much should I charge people for photography?" Pricing can be a challenge, and you want to earn enough so you're profitable and can maintain a comfortable lifestyle.

If you're starting a photography business for the first time or even pivoting your business into a new specialty, like from weddings to newborns, knowing customer's expectations can vary. Your expertise also becomes a factor in the prices you charge, on top of the general cost of goods, your studio's space, and even home.

If you are doing this alone (as a solo photographer), there's a lot to figure out. How do you ensure you are not pricing yourself out of a job by under or overselling the services you provide? How do you stay busy and profitable but not drown in too many projects because your price yourself too cheap? 

PhotoBiz has been a participant in the photography industry for the last 19 years. We've seen many changes in costs, specialties, equipment and even witnessed the transition from film to digital. Challenges continue to arise.

Today, demand may be higher than ever for quality photographs, and that means people's expectations may not meet your cost of living. This may raise questions like, how do you fight to want to be the photographer for everyone vs. being the right photographer for someone?

In this guide, we'll focus on how you present yourself so that when you price your work and talent, you are profitable and desirable to customers.

As a professional photographer, you must understand your surroundings, such as the cost of living and community demand. Where you live drives your pricing decisions. It is called market value, meaning how much a buyer is willing to pay a seller for a service or product. If you live in a small rural environment, your prices may differ from those who live and work in large cities, and you have to make it profitable, not unreasonable.

Your standards of living play into your exact costs. Did you ever think you would have to know the average living wages in your area to understand how to be a good fit for your community? It helps.

Another thing to consider is your expertise level. If you're just getting started, your prices may be generally less than some who have a few years under their belt and much less than some who have been doing it for 10+ years. You have to consider your competitors and skills.

Knowing how you're going to run your business and where you'll do business are additional factors you have to look at before finalizing your pricing.

Are you running your business from your home, primarily on location, or in a studio? Are you a jack of all trades, meaning you shoot all types of subject matters, or do you focus on a specific kind of photography? These are things to consider for your overhead costs, plus tools of your trade (how many cameras, batteries, tripods, lighting equipment, software, etc.), and what you need to live comfortably.

Next is marketing costs; how are you going to spread the word about our business? Is it all online marketing? Will you run ads or do networking? Are you doing it all on your own, or will you hire digital marketing services to handle it for you?

Many things may make the prices of your products and services fluctuate. Keep this in mind when pricing your prints and packages too. The main thing you have to consider is how much do you need to make to be profitable? (Translation: You need to make more than it costs you to do the service or produce the products.)

Having your own business can be rewarding but challenging as well. Consider this … How much do you need to make to keep your business operational and profitable while maintaining a stable lifestyle? You need to consider all the things you need to maintain your business.

You may want to get an accountant or financial expert to look over your business needs and help you develop the best model for your business's stability and profitability. But a simple equation for you to look over should look something like this:

Cost of operating business + Cost for time & labor

+ Cost of goods & services + Profits + Taxes = Your Pricing

Once you know what you need to run your business, you can figure out your packages and pricing lists. Your profits are what you can earn on top of your expenses. We'll need to look at all of these to compile a reasonable cost.

Some basic things you need to run your businesses are equipment and supplies. Let's look over things you need to account for:

Equipment - Cameras, lenses, batteries, lighting equipment and stands, backdrops or props, computers, and editing software.

Storage - Memory cards, offline (hard drives), online (cloud storage)

Studio - Are you renting a place or doing it from your home? You need to measure the space out and create a rental value based on your home studio's square footage. This is a crucial business cost and can help you choose an affordable location.

Marketing - Digital ads, print or newspaper ads, mailable ads, website, social media marketing, networking groups, chamber of commerce, festivals, and competitions to showcase your work.

Employees - Do you have employees or assistants? You'll need to figure out a liveable wage for them for the services they render for you.

Financial experts - Accountants to look over your business finances are always recommended.

Expenses - Gas, time of travel, electricity, printer ink, etc.

You need to understand the value of time. As creatives, we tend to let this be the one thing we ignore to see a project through to the finish, but this can be one of the places where the least creativity defeats our profitability. When looking at the cost of time and labor, you have to think about the time you spend before a shoot or event (pre-production), any travel expenses, set up time, the hours of the event itself, and then editing (post-production).

Time is where much of the cost comes from. You and your clients must respect how long a project can take from start to finish. Don't let the thrill of the chase for an exciting project put you at risk of overexerting yourself and losing time and money.

This part of business focuses on the goods or services you are selling and the labor and material costs involved to render a service for a customer. This includes the size of an image and the editing of the image, any framing, then packing and shipping of the final product.

This can also be where customers get lost in the weeds on the cost of your services. I know countless photographers who have sold a $250 service, and the customer thinks that is for everything, including the final product. Nope, that $250 was just the sitting fee to cover the setup, props, location, and you taking the photos. It did not include the prints or packages.

This is where being upfront with your pricing is significant. Be as transparent as possible to keep from breaking customer's hearts or preventing a customer blowout. We recommend creating a price sheet and explaining to customers what the costs are when purchasing pictures – both the sitting fees and the fees for prints and packages.

Once you have a cumulative cost of time, goods, and business expenses, you can figure out a general profitable scale for your business. But you're not done yet. Keep reading to learn about what you need to evaluate next – market value, competitors, and your own experience.

This is where things can be challenging. If you are starting your profession, how do you make yourself profitable without underselling yourself? How do you make sure you're also not alienating your potential customers? If you charge too low, your product may be perceived by others as a cheap and low-quality product. And if you increase your price afterward, that customer may perceive it as greedy. 

Pricing your product and services as fair as you can is all you can do.

Editor's Story: My first gig out of college was for a video that had to be edited for a local company that needed it done in 24-hours and shipped to Italy the next day. Complete video, graphics, 15 DVDs authored overnight. 

I consulted with industry professionals and my professors. They said for a gig like that, and I should have asked for $5,000. Since it was my first gig, I wanted to make it affordable because I wanted more future work. 

I was going to do it all for $1,500, I worked endless hours on this project and did a 19-hour turnaround time. I figured I'd bill him at the end. 

That was my mistake.

I delivered the video the next day with the bill in hand, and he refused to pay, saying: "I was going to give you $100 for it. I thought you like to do this for fun?"

That was his mistake.

I refused to give it to him until we settled on a $500 payment, but I never worked with him again. This was over 20 years ago, but it taught me a valuable lesson:

• Be transparent and upfront about costs.
• Get contracts signed if needed.
• Have a pricing list for your services.
• Negotiate if you need to.

The thrill of your work can sometimes blind you, and someone might perceive what you do as a hobby and not a professional job.

From that day forward, I never undervalued my time or the labor I spent on a project. The customer may not understand your worth, but you should, and both parties should respect it. The right client will pay for your worth.

A website is a great way to show your expertise. You can easily highlight and prove your quality of work by having a gallery of your best work online for potential clients to look through. If your work stands out, it can drive up your market value.

They say never judge a book by its cover, but when people come to look at your website, that is precisely what happens. People value how your website looks. You have to make sure your work is sharp and rich with quality to stand out among your competitors. A high-quality site can help customers recognize that you provide high-quality work and are worth the price behind your product.

You can easily create a stunning website with PhotoBiz. It can showcase your work, build your professional value, and it includes all the tools you need to sell your prints, products, and services from one dedicated platform.

As you prepare to launch your business and pricing, look at those who are offering similar services as you. You may want to see their prices and competitively adjust yours to give you an edge when creating your price sheets. But don't underprice your services just to gain business. This can result in undervaluing your work and may keep you from forming relationships with quality customers who may return for services.

It may also mean you're working harder, not smarter, and may cost you more time and money if you try to overload your work schedule to compensate for lower costs. Be fair with your prices and give the customer a range so you can get a feel for what they are shopping around for.

If you are just starting your business, you may still be searching for what type of photography speaks to you. I found out early that I was not a wedding or event photographer, but I love shooting portraits and headshots. You recognize your strengths and passion early on, and it might be a way to make you different in your market compared to your competitors.

When you focus on a specialty, it can give you an edge in your community. You may be the only photographer that shoots seniors or newborns. Creating your specialty makes you valuable and even a referable partner to competitors. If they do not like to shoot newborns (which is your specialty) but love weddings and events, they may refer people to you. Referrals are an excellent way for competitors to help one another without interfering with each other's businesses.

We'll go into more details about the standard rates of specific types of photography later. First, you need to understand pricing images and what they can cost so you can drive prices in your favor.

Pricing for images can be straightforward or more complicated, depending on what type of photography you are providing. Typically there are two major factors you can base your image prices on – flat pricing rates or hourly rates.

If you're a commercial photographer, we have a great resource that goes into detail about pricing your work:

Flat pricing is a very common way to price out your time and editing as a packaged deal. You see this with portrait, event, and volume photographers. This usually is a set fee based around a set amount of time (and sometimes editing time included in the package's fees) for a project.

For example, an all-day event may be an 8-hour package with a set price of $5,000. This package can include various types of photos you will collect for the event, plus your labor costs (lighting, coordination of the setting, posing, and participants in the pictures) and your skills needed to accomplish this goal of the project. 

This package can include the basics for touching up photos, how many photos are in a package (e.g., 100 edited images), post-production like retouching, organization of the best photos, and fall outside of those initial 8 hours of the main event.

You may even include products, prints, or digital images with specific sizes or parameters – it really depends on what you want to include and what is profitable. You just need to look at what your margins are. If you work a total of 20 hours on the project, you can see what the prices of prints or products may cost that you can bundle together and keep it profitable.

Flat pricing strengths give you solid prices for clients to pick; you can create multiple packages, from low-end to higher-end options. For weddings, this can be nice for clients not to calculate time and labor cost, it's already done for them, and you can also provide goods for them right away.

Flat pricing weaknesses mean that once you are locked into a package, it can be challenging to change or go outside of the package's boundaries. The customer may be satisfied with the package, but you may have to stay longer for a shoot, or they may want more photos. This can result in having to negotiate for more money, and your clients may not understand the changes. 

You have to be upfront with your customers if you see a project taking more time than expected or requesting something outside the package.

The most common pricing option is based on the hourly time necessary to do the work. This can range from $25 - $100+. It is typically based on your expertise level. The newer you are, the less likely you will be paid the same as higher-skilled photographers.

With hourly pricing, you can look at the scope of a project and let customers know the range of the cost based on the range of time you anticipate it will take. This also means you can be flexible, and project time could increase if a project takes longer.

When it comes to any pricing, agreements, or contracts, it is recommended to discuss and agree upon this before the work begins. 

This will protect you and the client involved, so they understand the scope of the project or event.

If you want to use digital contracts, PhotoBiz gives you access to form tools that you can use to collect digital signatures and take payments (including pre-payment options).

Being on top of how you want to get paid will help you manage expectations and the flow of work you need to keep yourself busy and profitable. It is essential to look at this both granularly and on a large scale. Think about what you need each week or month as well as what you need in total for a year.

Starting Photographers (Novice)  $25 - $50 per hour

As a starting photographer, hobbyist, self-taught, or student, your experience may range. Your skills may still be in training. As you hone these skills, you can bring more value to your clients. A website with a great portfolio can also ensure you stand out and start to create demand for your work since you are competing with professional photographers. 

You could be very talented but less experienced, and as you start out, you have to create momentum around your business and create word-of-mouth referrals to drive people to you.

Professional Photographers (2-7+ years of experience) $50 - $150 per hour

More established photographers with more experience and education can be sought out within their community circles. You tend to be the one photographer in your town or area that people rely on for your set of skills, making you in demand, meaning you can earn more for your expertise. 

This is where many photographers want to be starting out, but it takes time. You have to earn the trust of your peers, and by doing that is showing off your work and establishing referral partners.

Advanced Professional Photographers (10+ years of experience) $200 - $600+ per hour

These photographers are highly specialized and sought out and tend to work in the entertainment industry, fashion, magazines, and more. They may earn wages per image as well. These professionals can earn $5,000-$15,000 per day, depending on their skills and demand.

Wedding photography rates ranges: $1,200 - $4,000 (advanced photography prices $10,000 - $20,000+) per event

Seasonal events such as weddings tend to shoot from Spring to Fall (peaking in early fall). Starting out as a wedding photographer, we recommend joining wedding networking groups and events. This can help you meet recently engaged couples who are shopping around for cakes, dresses, and much more. 

They'll be looking for someone to capture their special day as well, so you want to make sure you have a beautiful portfolio on display, business cards, and even examples of some of the products they may be able to purchase from you.

The networking aspect never ends for photographers, but the more well-known photographers become more in demand and may even shoot internationally or travel to destinations for wedding events. Some even shoot on film, with fewer shots but richer quality images that can feel more intimate for couples.

Newborn photography rates ranges:  $250 - $500+ per session

Newborn photography is a very specialized style of photography. It takes patience and skill to work with children at such a young age. It's not everyone's cup of tea, but that means it is more specialized and can mean more money if your talent shines through.

Commercial / Product photography rates ranges: $10 - $100+ per image

Specialized photography dealing with products can range from high-volume shoots on a solid background to unique abstractly designed photo sessions describing the product. It's a full range of detailed shots. You can showcase a product for sale in a store or focus on print ads. This commercial work can make the product presentation captivate an audience.

With high volume, you may be doing tons of products with lower range margins per photo, but you make up for the cost by doing more pictures at a time. If you are doing heavily stylized photo shoots, you may do just a single image, but it could be worth hundreds or thousands of dollars. Your expertise and creativity are most in demand for those types of shoots.

Portrait photography rates ranges: $75 - $300+ per session

The range for portrait photography can have lower rates but can have big payoffs with packages. From headshots, families, pets, seniors, and more, you have to pick what you can capture. 

Starting out, you may do mini-sessions to fill up your volume for quick turnaround profits, but the more skilled you are, you can transition to doing more by-appointment-only sessions that require larger session fees.

Fine artist rates ranges: $100 - $1,000+ per piece

Each fine artist's rate can range depending on the type of work to how detailed the work is. A client will commission a piece from you, but your time and labor cost can range. You may give them a flat rate deal if you know how long it takes you to work on a project, but typically it is based on time. 

I've seen some commissions as low as $100 and others as high at $35,000. And that's not the cap, and it could be even more depending on the artist and demand.

Some projects can last days, while others keep going for months and even years. The challenge can be knowing when a project is complete for your client, so booking clients far enough apart is always wise.

A pricing sheet is a great way to showcase the cost of your packages, products, and even your hourly rates so potential customers can get an idea of all the services and goods you provide. It allows customers to see the plethora of options and costs of not only your work but what can be created with your work (e.g., prints, frames, products). There's more to it than clicking a button on a camera. It shows off your professionalism and expertise in your field of work.

You can have a price sheet available on your website or keep it reserved for your consultations, it's up to you. We believe a price sheet is a reliable way to put your clients at ease and put you in control of the conversation and options for them. 

Need to create a price sheet? Our in-house team produced this free price sheet bundle! There's a total of 18 pre-designed Photoshop templates you can choose from and personalize just for you. You just need a little time and Photoshop so you can add your branding and insert your own prices.

A long-debated subject: should I put pricing on my website? Surprisingly enough, last year, we found out more than 71% of PhotoBiz customers polled put some type of pricing on their website. It might not be the final price, but many do include a price range, starting price, or a sitting fee on their website. It's there to help make sure customers know what they are looking for and to weed out bargain shoppers.

Check out our article about pricing on your website and see if you agree!

When it comes to earning money and calculating taxes, having a professional in your corner is always great. A CPA will have the knowledge to help ensure your business is set up correctly. Always seek a professional when it comes to taxes and business laws. You don't want to pay for it in the end when tax season comes.

Pricing can be a complicated process. You want to make sure you have a livable wage and are living a healthy life without being overworked. It's easy as creatives to keep saying yes to any project at any cost, but knowing your limits and your skills can put you in demand.

If you're just starting out, you can work from your home office and have a beautiful site that drives people to you. As your skills grow and your work evolves, people will see that as you update your website. Focus on your growth to build your reputation.

As seasoned professionals know, prices can change due to economic situations and environments. You have to stand firm with your costs and know when to adjust to meet your needs and the market value as it changes.

Don't just make up a price, have a set goal around what your worth + the cost of living to keep things manageable. You want to have profits, but you also want a healthy business with returning customers and rave reviews. You want referrals, and you want to create demand around your business. That's how you'll stay profitable and busy vs. outpricing your clients.

Just starting and need help getting online? PhotoBiz offers affordable and gorgeous websites with built-in tools, like eCommerce, Proofing, and our Marketing suite, to make it easy to run your business from a single platform. If you want to get started today, check out photobiz.com/websites for more information. If you would like to talk to our team, give us a call at 866.463.7620, we'll be happy to help you.