When we began discussing the 'Costing of our work' I felt quite nervous as I feel I lack confidence in regards to rating my own work. However the lessons allowed me to understand the key principles and issues surrounding pricing work. Also knowing if the print for example is a 'reasonable' price or overpriced depending on how much input you have made.
I learnt that the pricing of work in photography ALWAYS has to be considered as 'fair' to the client/customer.
The key questions we discussed were:
'Is the price you're selling at profitable?'
'How do we arrive at a sale price at all?'
Its all about understanding what leads to a profit margin, which is basically understanding and fulfilling the cost and value of your service.
Selling work as a University student can be difficult, as to start any business you must spend money to gain something back. By this I mean depending on what sort of photography you intend to specialise in you will need different equipment.
The costs which we discussed as a class were: camera equipment, fuel/travel, public liability, insurance for equipment, computer programs.
Although a lot of money will be spent to go into the business, as a class we came to realise that over time the business you have created will make the money back, if it spent correctly and the job is done to the satisfaction of the buyer.
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