This document discusses how to determine your worth as a photographer and set your prices. It addresses two main questions: What am I worth, and how do I determine my worth? To answer these questions, the document recommends researching expenses, understanding perceived and actual client value, and considering how many sessions or weddings you want to shoot per year. It then presents a formula to calculate a minimum session or wedding rate based on yearly studio expenses, per client expenses, yearly personal expenses, and desired number of yearly clients. Examples applying the formula for wedding and portrait photography are also provided.

1. SET YOUR
PRICES...
LIKE
A
with Jamie Ivins
BOSS

2. Set Your Prices Like A Boss with Jamie Ivins
BIG QUESTIONS
What am I worth?
How do I determine my worth?

3. Set Your Prices Like A Boss with Jamie Ivins
What am I worth?
BIG QUESTION #1

4. Set Your Prices Like A Boss with Jamie Ivins
“Sometimes the hardest part of the journey
is believing you’re worthy of the trip.”
-Glenn Beck
What am I worth?
BIG QUESTION #1 cont.

5. Set Your Prices Like A Boss with Jamie Ivins
≥Never ask others to determine your worth. You
may not like the answer.
≥The only way to truly find your own worth is to put
in the time and effort.
BIG QUESTION #1 cont.
What am I worth?

6. Set Your Prices Like A Boss with Jamie Ivins
BIG QUESTION #2
How do I determine my worth?

7. Set Your Prices Like A Boss with Jamie Ivins
≥Research! There is no secret formula.
≥Understand your expenses
≥Understand the value you are offering potential
clients (perceived value vs. actual value)
BIG QUESTION #2 cont.
How do I determine my worth?

8. Set Your Prices Like A Boss with Jamie Ivins
≥How many sessions/wedding am I comfortable
shooting per month/year?
≥What products will I include?
≥What are my expenses?
≥Do I want to shoot full time or part time?
≥Is this a single income or do I have support?
Important questions to answer...
BIG QUESTION #2 cont.
How do I determine my worth?

9. Set Your Prices Like A Boss with Jamie Ivins
Expenses
Expenses
Studio Expenses
Expense Per Client
Personal Expenses

10. Set Your Prices Like A Boss with Jamie Ivins
≥Studio Management (Pixifi, Shootq, Tave, etc.)
≥Web Domain
≥Web Hosting (Showit, Bluehost, Godaddy, etc.)
≥Insurance
≥Marketing (Facebook, The Knot, WeddingWire, etc.)
≥Album Proofing (Album Exposure, Banti, KISS, etc.)
≥Vimeo
≥Animoto
≥Equipment Maintenance/Upgrades
≥Office Supplies (Paper, Ink, etc.)
≥Savings
Yearly Studio Expenses (YSE)
Expenses cont.
Business Expenses

11. Set Your Prices Like A Boss with Jamie Ivins
≥Pricing Guide
≥Welcome Packet
≥Client Gift(s)
≥PASS
≥USB
≥Proof Prints
≥H.H. Boogie Box
≥Second Shooter/Assistant
≥Rentals
≥Travel Costs (Gas, Tolls, Etc.)
Per Client Expenses (PCE)
Expenses cont.
Business Expenses

12. Set Your Prices Like A Boss with Jamie Ivins
≥Rent/Mortgage
≥Cell Phone
≥Internet/Phone/Cable
≥Electric
≥Groceries
≥Auto Insurance
≥Renters/Homeowners Insurance
≥Gas
≥Entertainment
≥Savings
≥Misc.
Yearly Personal Expenses (YPE)
Expenses cont.
Personal Expenses

13. Set Your Prices Like A Boss with Jamie Ivins
≥In order for the formula to be accurate you must first
multiply your PCE (Per Client Expense) by the number
of desired yearly clients/sessions. The result is your
“Yearly Client Expense” (YCE).
(YSE + YCE + YPE) ÷ # of desired yearly clients =
Min. Wedding/Session Rate
The Formula
The Formula

14. Set Your Prices Like A Boss with Jamie Ivins
YEARLY STUDIO EXPENSE
Studio Management $300
Domain $15
Hosting $20
Album Proofing $150
Office Supplies $150
Equpment Cleaning/Upgrades $500
Animoto $250
Vimeo $60
Insurance $555
Marketing $1,000
Savings $2,000
TOTAL $5,000
PER CLIENT EXPENSE
Pricing Guide $18
Client Gifts $50
PASS $29
Gas $50
Second Shooter/Assistant $250
Rentals $150
TOTAL $547
YEARLY PERSONAL EXPENSE
Rent/Mortgage $14,400
Cell Phone $1,200
Internet/Phone/Cable $1,800
Electric $2,640
Auto Insurance $1,500
Groceries $6,000
Entertainment $1,200
Gas $3,000
Incidentals $4,800
Savings $2,400
TOTAL $38,940
YSE = $5,000
YPE = $38,940
YCE = $547 x 20 (my magic “preferred wedding” number)
FORMULA: ($5,000 + $38,940 + $10,940) ÷ 20 = $2,744
**Example formula assumes 20 weddings per year.
The Formula cont.
Wedding Example

15. Set Your Prices Like A Boss with Jamie Ivins
YEARLY STUDIO EXPENSE
Studio Management $300
Domain $15
Hosting $20
Office Supplies $150
Equpment Cleaning/Upgrades $500
Insurance $555
Marketing $1,000
Savings $2,000
TOTAL $4,540
PER CLIENT EXPENSE
Client Gifts $100
PASS $29
TOTAL $129
YEARLY PERSONAL EXPENSE
Rent/Mortgage $14,400
Cell Phone $1,200
Internet/Phone/Cable $1,800
Electric $2,640
Auto Insurance $1,500
Groceries $6,000
Entertainment $1,200
Gas $3,000
Incidentals $4,800
Savings $2,400
TOTAL $38,940
YSE = $5,000
YPE = $38,940
YCE = $547 x 144 (my magic “preferred session” number)
FORMULA: ($5,000 + $38,940 + $18,576) ÷ 144 = $391
**Example formula assumes 144 portrait sessions per year. (12/month)
The Formula cont.
Portrait Example