From the course: Running a Photography Business: Pricing Your Work
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Taking an appropriate margin and the key price points
From the course: Running a Photography Business: Pricing Your Work
Taking an appropriate margin and the key price points
- When you build your pricing structure it's really important to recognize all those bricks in the foundations that we've already talked about. First of all, you've got to know your margins. That means that you have to understand what your real cost is and that means, in turn, you have to understand your target demographics. So, for example, if you're, and let's use wedding as an example again, you're a high-end wedding photographer, and you're pitching your community, which might be more blue collar, but you've got this high-end package. Well, you're not necessarily understanding your target demographics. Or you might still have a high-end package, but you've got to do a better job of educating your clients and having them understand why it's important and why these components are in there that make it cost more. So, you've got to understand your margins, you've got to have good handle on what your cost is every time you go out to do a shoot, and you've got to understand what your…
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