Base rate number of days for shootlicensing
project rateHere’s how it works.
Determine your base rate by looking at your overhead costs
and your experience as a photographer, then set a fee that is
the least you would charge for your shooting per day. This fee
becomes your base rate.
(Yes, this could be your old day rate.)
When a client calls with a potential assignment, get all the
details. Determine how many days you will need to shoot and
find out what the usage for the photos will be. Your client’s
licensing needs are based on where the photos will appear and
how long the client wishes to use them in that medium.
When creating a project rate for the assignment, simply
take your base rate and multiply it by the number of days for the
shoot and add the licensing fee to get the total project rate.
Determining appropriate licensing fees is the difficult
part of the process. Programs like Photoquote, blinkbid,
information from stock agents, and just plain experience at
quoting usage fees will help you here. In addition, you may
want to work with an experienced photographer or a consult-
ant who can teach you about building licensing fees into your
project rate.
You will also need to pay as much attention to setting up
your books as you put toward developing a body of work. Always
know where you stand financially.
Consider building a relationship with an accountant,
making sure that you understand the steps that you need to
take to set up accounting systems, and have your financial
advisor teach you how to read balance sheets. Review your
balance sheets weekly and monthly. Understand where your
break-even point is and know what type of profit margin you
are aiming for.
These are some of the many steps you must take in order to
“show up” monetarily for your business. Whether you are new
or just fiscally challenged, there is no time like the present to
become “financially literate.”
If you are reading this and are a new or seasoned photogra-
pher and you find yourself resisting or wanting to put this essayCHAPTER33 / SHOWUPChapter 33.qxd 6/27/07 9:06 PM Page 203