Today on the blog I want to help you understand how you can determine your pricing so that you can see how much money you are actually making. I’m going to do a quick break down of my own portrait experience pricing. I’ll let you know what it all includes, what I’m netting, the percentage I’m pulling out for taxes and expenses, and how much I end up making an hour.
Keep in mind some sessions vary in time and hours worked, even though I have one general portrait session price. Sometimes clients will utilize my al a carte menu and add on an hour or an outfit and this changes the numbers you’ll see below. So think of this as an average breakdown for an average full portrait session with me!
A full session with me is priced at $450 includes up 60 minutes & 50+ images. I do typically over deliver and give sometimes over 100 images to my clients. But that can depend on how the session plays out. I quote them a minimum of 50 images because I know that no matter how much crying a baby does… that I can manage to pull out at least 50 good images while shooting to edit and deliver.
If you go to my website, you will see this under what all is included in my pricing and sessions.
The invoice is sent for $450, but I get deposited $436.65 due to processing fees with my payment software. I have used a variety of different payment softwares of the years, but I have been using Pixiset’s Studio Manager for the past two years. Once this amount is deposited into my Incoming Income bank account, I then split it up into specific accounts, pulling out for taxes and monthly business expenses.
The Path to Profit Blueprint helps me determine how much goes where! You can purchase this mini course along with the Google Sheets at my D|A Education Shop!
I pull out 20% for taxes & 3.49% for my monthly business expenses, Netting $334.06 in total from the original $450 invoiced. My monthly business expense total may be different than yours. There is a google sheet calculator in the Path to Profit Blueprint that will calculate your total monthly and yearly business expense amount. Then on another sheet, it will inform you what percentage of your payment received needs to go towards your business expenses. (genius, i know!)
Now, I typically spend about 1 hour with my family shooting + an average of 1 hour round trip drive time. So 2 hours outside the house working for an average portrait session. It will take me approximately 2 hours max to fully finish editing the session for delivery. That’s with culling, editing, final touches, and delivery via an online digital gallery with Pixieset. Ending me at approximately 4 hours of work time. 2 hours outside the house and 2 hours at home in my office.
Sometimes I do this all at once, other times I break it up depending on my schedule and work load. My turnaround time for portrait sessions is 2 weeks. This gives me times to breathe after the shoot, work on other edits, be with my family, shoot other sessions, and work on other parts of my business.
When all is said and done, I end up netting $336.06 for 4 hours of work. Bringing me to making $88.52 per hour. Which ain’t too shabby if you ask me! That’s A LOT more than what I was making waiting tables back in the day. And a lot more time doing something I love with people I adore AND being able to work from home with my family and dogs.
What to learn how to price yourself better so you are ACTUALLY making money doing something you love?
This is something I can teach you in my 1.1 Private Coaching! We will dive into your packages, your pricing, your income goals, and more! Making sure you are were you need to be to make an income you can live off of. Nailing your pricing is one of the best ways you can fast track your business to a full-time career, job, and profession!
Be sure and head to my site DEVONADRIANNE.COM to get started today!
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