How To Set Your Pricing
Pricing can be one of the hardest things to figure out when it comes to running your boudoir business. Pricing is one of the key factors that will ensure that your business is a success. If you charge too little, you run the risk of devaluing your service and your skills while running yourself ragged taking on too many clients to pay the bills. If you charge too much, you can scare off potential clients if you don’t have the portfolio to quite show for it.
When you are first starting out as a photographer, your prices will most likely be lower than what they will be a few years later. As you get more experienced, you can absolutely change your prices! The more you learn and the more experience you get will make you a better photographer overall. Here are a few things to think about when you sit down to set your pricing.
Quality of Work
When it comes to pricing, there are a few factors to think about that will influence your final price. You want to think about the quality of your work. If you are a newer photographer, chances are your prices will be less than a photographer with 10 years of experience. Be sure that you are not underpricing yourself as well. You don’t want to be working too much for way too little. As you gain experience and learn more about photography, be sure to raise your prices so they can be on par with your work.
Another thing to think about is where you live and what your competitors are charging. Someone in the middle of Iowa will probably have lower prices than a boudoir photographer in New York City. Do a little research for your city to see what a standard boudoir photographer is charging and use that as a base. Be sure that you are not underpricing your competitors just to get clients. You want to make sure your prices reflect the quality that clients get. If you are too cheap, they may think that the final product will not be high quality.
One thing that so many photographers don’t think about is the cost of doing business. From the products you are creating for your clients to everything that goes into your sessions, these are all things to account for. If you prices are too low and not paying for you to run your business, unfortunately it may not last very long. You want to make sure that you can pay for everything that you need to run your business, including paying yourself!
A big thing to think about when setting your pricing is your target audience. If you are going for a more budget friendly session, that is totally fine! Just be sure your sessions and products also reflect that pricing. If you are going for a more high end target audience, you may want to include a few more things into your sessions and make sure that your products are high end as well. You want to make sure that the prices clients are paying reflect the quality of what they are getting.
The best thing about running your own business is that you get to set the rules. You have the freedom if setting your prices and they can change over time while your business grows and changes. Don’t let the pricing part of your business stress you out. We’ve all been there!