It’s a real dilemma for a Cheshire wedding photographer. When it comes to pricing, both high and low post their own disadvantages. You don’t want to sell yourself so cheaply because wedding photography is not easy and takes a lot of time and effort. Yet, nobody will hire you if you are too expensive in comparison to other photographers.
Calculate your expenditure
Before anything else, make sure that you are selling your business at or above your operating cost. How much does it cost to drive to wedding venues, run your electronic equipment and marketing expenses? How many clients do you expect to serve with those expenses? Then, calculate how much you want to earn every month or year based on this.
Don’t forget about other expenses such as purchasing new batteries, memory cards, and annual photography insurance premium.
An important aspect of deciding if your price will bring you profit is to calculate it in terms of dollars per hour. Think of how much you earn in dollars per hour by considering every minute you spend in serving your clients from consultation to working at the wedding venue and editing the pictures. Then you calculate your total profit by subtracting your gross profit with operating costs.
Are you reaching a number that you think is to your liking? If it doesn’t, you can think of increasing the price of your service as a Cheshire wedding photographer.
Higher or lower?
Now that we’ve known how to decide a price that brings profit, it’s time to decide how much is too much. Many people might start their business at a lower price and low-profit margin in order to attract customers. Others think that they want to present themselves as professionals by giving their services a professional-level price.
The first thing you need to consider is your competitors. What are the prices other wedding photographers put on their services around you? What do they provide and what is different about them from you? Most of the time, pricing is not just about what they provide, but also about their experience which instills trust in clients. People believe in those who have worked on many clients and have received many positive reviews.
You are willing to pay more for someone who is professional in what he does and have been recommended by many people. But does this mean that you should be cheap? No. Being a cheap photographer will simply give you a cheap image because it’s not easy to rise up from that image. If dealt with wrongly, you might be forever remembered as that decent photographer at an affordable price.
Here’s what you should do.
So, here’s the trick: you shouldn’t be too expensive obviously, because nobody can trust you unless you are already a professional photographer in a different field. You are a new Cheshire wedding photographer without background working experience in photography competing against Maurice Roberts.
The first thing you can do is to provide ‘limited time special price’ or ‘free add-ons’ for your first few customers. Design a pricing scheme that is within the profit margin that you want and proceeds with it after, say, 5 or 10 customers. This way, you can set your price at the range that you want, but still be attractive as a newcomer.