Every day, our life revolves around numbers. Whether it’s how many miles we have till our gas tank is empty, or our personal budgets, numbers decide how we plan our day. I have thought long and hard for quite some time about doing a blog on the cost breakdowns behind a photography session, but many people will tell you that you should just keep all the struggle of running your own business to yourself. Yes, it can be hard, but my purpose isn’t to complain! It’s to give a true explanation of my numbers. I have learned that I don’t need to validate myself, and I’m a people-pleaser by nature, so I wanted to share what it really means when you pay for a photoshoot, and why. After all, my favorite quote is “Nothing is obvious to the uninformed!”
Being a photographer is actually harder than it looks. I feel so blessed to be able to do what I do, and while it looks like I just walk around with a fancy camera taking pictures, I am actually more like an one-woman show. I am the bookkeeper, secretary, insurance agent, tax preparer, social media manager, and editor! I honestly get tired sometimes (not of the taking photos), but of the day to day things that are involved with being a business owner. On top of that, I am a wife and mom, and sometimes I feel like I could collapse into bed at night, thinking of the hundreds of things I need to do. A few years ago, I invested money in my business to make improvements, and two awesome things happened: some amazing mentors encouraged me to outsource, and I hired an editor (Katie), and I hired someone to blog for me. Yes, say hello to Grace as you read this! I was able to take control and get some pieces of my life back, and find some balance. Sometimes, we ladies forget we can’t (and don’t have to) do it all.
In my mentoring, I also crunched the numbers. I figured out my true cost of doing business, and what it costs to be in business before I take a single picture! I have to earn that money just to cover those costs, or I am not profitable. On a good year, it costs me about $16,000 just to be in business. Yes, I’m serious, and these are the years when my costs are low. This number includes supplies, website, insurance, props, prints, stamps, and more. These just necessities, and broken down over the thirty seniors that I serve every year, that is about $533 per senior just to break even. Let’s pretend I do a session for Suzy-Q. Suzy’s family bought my digital collection for $990, and paid the session fee of $200 for a total of $1190 (pre tax). Here’s how it breaks down:
$1190 purchase
-$533 cost of doing business
= $657 (my take-home)
-Income tax (25%)
=$492
Don’t forget the unemployment tax! After that, I make a total of $416 per every senior. I make a grand total of $12,491 for the entire year with my thirty senior clients, and I put at least 15 hours into each session when I don’t outsource my editing, so I make exactly $10 an hour! Minimum wage! While that $1190 looks very impressive, once you see the breakdown, it’s simply not. I could work at Burger King for the same amount per hour, BUT I do this because I love it. I believe in what I am doing, and believe in the seniors I work with. I promise I not being greedy, I am simply covering true costs. At first, when I worked these numbers, I felt depressed, but now I feel more in control and know my worth as a business owner. I wholeheartedly feel that many business owners struggle with self-worth, especially as an artist. I know many families may never call me, because of my prices, and I actually respect them for that. I know every family has a budget, and I am just like you in that I need to know at the end of the year, that my own family can count on the income I bring in. I simply can’t and won’t sacrifice time with my family for a session that won’t hit that $550 minimum order, because I would be losing money. I have insurance and I pay taxes just like everyone else. Are the photographers charging $250 for a shoot insured and paying proper taxes? I’m not sure about them, but I believe in doing the right thing and having integrity!
To my clients: I hope that this post truly helps you to see that I am doing this because I truly love it. I love making seniors feel amazing, and helping them feel confident. I love when a mom calls me and says “My daughter just looked at her pictures again said Mom, I didn’t realize I am pretty.” I love celebrating EVERY senior for who they are and encouraging them to do the same. I am eager to keep shooting, and offering scholarships to my seniors, because I believe that one day, they will know their own worth and maybe even start a business of their own!
