Scaling Your Prices Up
Lesson 63 from: Launch a Successful Photography BusinessPhilip Ebiner, Will Carnahan
Scaling Your Prices Up
Lesson 63 from: Launch a Successful Photography BusinessPhilip Ebiner, Will Carnahan
Lesson Info
63. Scaling Your Prices Up
Lessons
Chapter 1: Introduction to Starting a Photography Business
1Welcome
02:26 2Why Do You Want to Start a Photography Business
04:40 3What Kind of Photography Business Do You Want to Start
05:38 4Important Personal Note from Instructor Will
02:25 5Case Study Starting a Photography Business
07:43 6Quiz - Chapter 1
Chapter 2: Basics of Starting a Photography Business
Introduction to Basics of Starting a Photography Business
00:52 8Choose Your Business Name
05:29 9Choose Your Business Structure
06:12 10Register Your Business Name
01:47 11Get Your Federal Tax ID
01:39 12Get Your Business License
01:16 13Get Your Business Bank Account
02:16 14Register Your Online Accounts
02:17 15Branding Your Business
02:18 16Set Your Prices
12:56 17The Photography Gear You Need to Start a Business
03:42 18Case Study - Business Basics
24:42 19Case Study - Equipment
10:05 20Quiz - Chapter 2
Chapter 3: Get Your First Paying Clients
21Intro to Getting Your First Paying Clients
00:44 22You Need to Prove Yourself
01:30 23The Best Place to Find Your First Clients
02:36 24What to Charge for Your First Clients
02:44 25On Set - Partnering with Other Creatives
01:57 26On Set - Getting Work in a Competitive Environment
02:38 27Use Your First Shoot Wisely
01:20 28Case Study - Getting Your First Clients
07:55 29Quiz - Chapter 3
Chapter 4: Create Your Photography Business Website
30Introduction to Create Your Photography Business Website
01:05 31Why You Need a Website and Platform Options
04:30 32What Needs to Be On Your Website
07:32 33Design the Perfect Portfolio
03:17 34Case Study - Looking at Photography Websites
12:56 35Quiz - Chapter 4
Chapter 5: Expanding Your Online Presence
36Introduction to Expanding Your Online Presence
00:55 37Use Instagram to Grow Your Business
02:29 38Use Facebook to Grow Your Business
01:21 39Get Listed on Google
03:53 40Get Listed on Yelp
03:20 41Get Listed on Review Sites
04:06 42Using Craigslist to Get Work
03:01 43Case Study - Expanding Your Online Presence
13:16 44Quiz - Chapter 5
Chapter 6: The Photography Business Workflow
45Introduction to the Photography Business Workflow
00:54 46Step 1 - Meeting Your Client
03:32 47Step 2 - Booking Your Client
05:53 48Step 3 - The Shoot
02:28 49Step 4 - Editing Your Photos
06:34 50Step 5 - Delivering Your Photos
01:05 51Case Study - Business Workflow
15:54 52On Set - the Shoot
02:50 53On Set - Backdrop Placement
01:13 54On Set - Paper Backdrop Rolls
02:01 55On Set - The Back Light
00:46 56On Set - Interacting with Clients
04:58 57Quiz - Chapter 6
Chapter 7:Scaling Your Business with Better Infrastructure
58Intro to Business Infrastructure and Continued Growth
00:46 59Productivity Tools to Make Your More Efficient
06:21 60Get Business Insurance
03:55 61Accounting Tools & Tips
04:20 62Business Tax Tips
03:38 63Scaling Your Prices Up
02:56 64Use Conventions and Meet Ups to Grow Your Business
04:01 65Case Study - Business Growth
11:04 66Quiz - Chapter 7
Chapter 8: Selling Your Prints
67Intro to the Selling Prints Section
00:56 68Why Should You Sell Your Prints
02:18 69Choose a Printer
02:59 70How to Price Your Prints
05:33 71Selling Your Prints Online
08:06 72Selling Your Prints in Person
02:38 73Wrapping up This Section
01:26 74Quiz - Chapter 8
Chapter 9: Conclusion
75Tips for Personal and Creative Well Being
04:38 76Conclusion
01:45Final Quiz
77Final 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.
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