Are You Charging What You're Worth?

Knowing how to price photography is about covering your costs, understanding the value you bring, and setting prices that give you the best profit margin possible. All while remaining competitive!

Use this calculator to price your photography for desired profit margins:

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Let’s now go ahead and break down how this calculator works so you understand the workings of setting your photography prices. 

We’ll go through how to:

• Calculate Your Photography Costs

• Set Your Base Photography Rate

• Pricing Freelance Photography

• Automate Price Quoting from Your Website

Ready to stop second-guessing your prices and start earning what you deserve? Let's dive in.

Calculate Your Photography Costs

Your photography costs depend on tracking three key elements that shape your pricing structure.

1. Equipment expenses

2. Time and labor tracking

3. Business overheads

Photography Equipment Expenses

Your photography equipment is one of your biggest business investments. However, many photographers forget to factor in the true cost of owning and maintaining their gear when setting prices.

Track Your Equipment Costs

To ensure your rates cover your investment, keep a record of:

• Initial purchase costs – Cameras, lenses, tripods, lighting, and accessories.

• Ongoing maintenance – Repairs, sensor cleaning, lens calibration, and battery replacements.

• Software subscriptions – Editing tools like Adobe Lightroom, Photoshop, Capture One, or cloud storage.

• Storage solutions – High-capacity memory cards, external hard drives, and cloud backups.

• Studio essentials – Lighting kits, reflectors, diffusers, props, and backdrops.

Plan for Long-Term Upkeep

Professional cameras and lenses require regular maintenance. This can cost you hundreds of dollars per year.

Common expenses include:

• Camera sensor cleaning: $50 – $100 per service.

• Lens repairs or calibration: $100 – $300 per lens.

• Battery replacements: $50 – $150 per battery.

If you shoot frequently, budget for upgrades every 3–5 years to stay competitive with industry standards.

Factor These Costs Into Pricing

Photographers often undervalue their pricing because they don't account for depreciation and recurring expenses. Here's how to ensure you're covering costs:

• Estimate your total gear investment and divide it over its expected lifespan (e.g., a $3,000 camera lasting five years = $600/year).

• Add annual software, storage, and maintenance costs.

• Factor in these costs when setting your session rates.

2. Photography Time and Labor Tracking

Correctly pricing your photography services starts with understanding how much time you actually spend on a project. Don't just consider the hours spent shooting. Several other time-intensive tasks go into delivering a final product.

Break Down Your Time Investment

A one-hour photoshoot can take 5–6 hours when you account for:

• Pre-shoot preparation: Plan the session, communicate with clients, scout locations, and prepare your gear.

• Travel time: Driving to and from the location, setup, and breakdown.

• Shooting time: The actual session, which can involve guiding clients, adjusting lighting, and capturing multiple shots.

• Post-production: Culling, editing, retouching, and exporting files.

• Delivery and follow-ups: Uploading files, organizing galleries, making revisions, and handling client requests.

If you're not tracking these hours, you could be undervaluing your work and cutting into your profits.

Use Time-Tracking Tools for Accuracy

To ensure you're pricing correctly, consider using time-tracking software such as:

• Studio management platforms (e.g., HoneyBook, 17Hats, Sprout Studio) allow you to log project hours, send invoices, and manage client communication in one place.

• Basic time-tracking apps (e.g., Toggl, Clockify) – Great for tracking how long you spend on editing, travel, and admin tasks.

• Built-in smartphone timers – If you prefer a simple method, log your time manually using your phone's timer and notes app.

Factor in Additional Labor Costs

If you work with an assistant, second shooter, or editor, their wages should be included in your pricing. Depending on experience, an assistant might charge $15 to $50 per hour, while a skilled photo editor may cost $50 to $150 per project.

Factor in all your labor expenses to make sure your pricing reflects the actual value of your time and expertise while maintaining a profitable business.

3. Photography Business Overheads

Beyond equipment and labor, business overhead is crucial in determining your photography pricing. Overhead includes all fixed and variable costs required to keep your business running—whether or not you book a job.

How to Calculate Overhead Costs

This formula calculates expenses per job:

1. Add up last year's total business expenses (or grab it from your tax return).

2. Divide by the number of completed jobs.

3. The result is your per-job overhead cost, which should be factored into your pricing.

For example, if your annual expenses total $12,000 and you completed 100 sessions, your overhead per job is $120.

Common Overhead Costs for Photographers

Overhead typically falls into two categories:

Fixed Costs (Stable, Recurring Expenses)

These remain consistent, regardless of how many clients you have:

• Studio rent or home office expenses – $3,000 to $10,000 per year

• Business Insurance – Covers liability and equipment protection ($300 to $2,000 yearly)

• Website and hosting – Essential for showcasing your work and booking clients ($100 to $500 per year)

• Software subscriptions – Studio management tools, accounting software, and online galleries

Variable Costs (Fluctuate Based on Workload)

These depend on the number of jobs you book:

• Travel expenses – Gas, mileage, and lodging for on-location shoots

• Equipment upgrades and repairs – New cameras, lenses, or lighting gear

• Marketing and advertising – Paid ads, print materials, and social media promotions

• Outsourcing costs – Assistants, second shooters, or freelance editors

Building Your Base Photography Rate

There are a few pricing models you can use when pricing photography. The cost-plus model gives you control over how much profit you want to make and is the most popular model for photographers. 

But other models may be more appropriate for your particular business. Here are pricing models you can consider:

The Cost-plus Pricing Model

This is a step-by-step method to set your base photography rate. It looks at both the business costs and profit margins you want.

The core pricing formula

The foundation of cost-plus photography pricing works with this basic formula:

Total Price = (Business Costs + Materials + Labor) + Profit Margin

For example, a portrait session with total costs of $170 and a 30% profit margin target would be charged at $221. 

Given the values:

• Business Costs + Materials + Labor = $170

• Profit Margin = 30% of total costs

First, calculate the profit margin:

Profit Margin = 170×0.30=51

Now, apply the formula:

Total Price = (170)+51

Total Price = $221

Profit margin calculation

Photography industry standards suggest 25-35% profit margins to keep your business growing. Here's how to figure out your profit margin over a year:

1. Calculate your total cost (equipment, labor, overhead)

2. Add desired profit percentage

3. Divide by the number of projected shoots

✅ Pros:

✔ Covers all costs – Ensures that pricing includes equipment, labor, and overhead expenses.
✔ Predictable profits – A set markup guarantees a consistent profit margin.
✔ Easier to justify pricing – Based on tangible business costs rather than market perception.
✔ Scalable – Works well as your business grows and costs change over time.

❌ Cons:

✖ Doesn’t account for perceived value – Clients may not be willing to pay based purely on your costs.
✖ Less competitive flexibility – If competitors charge based on value, you might be overpriced or underpriced.
✖ Ignores demand fluctuations – Doesn't adapt to market trends or client expectations.

Value-Based Pricing

Instead of basing prices solely on costs, this model sets prices based on the perceived value to the client.

Example: A luxury wedding photographer may charge significantly more than a local event photographer, even if their costs are similar, because the perceived value is higher.

Works best for photographers who can showcase a unique style, premium service, or specialized expertise.

✅ Pros:

✔ Higher earning potential – Clients pay based on perceived value, not just costs.
✔ Works well for premium services – High-end photographers can charge significantly more.
✔ More competitive edge – Positions the photographer as a specialist rather than competing on price.

❌ Cons:

✖ Harder to justify pricing – Clients may question why one session is more expensive than another.
✖ Requires strong branding – Success depends on a photographer’s reputation and marketing skills.
✖ Not suitable for beginners – New photographers may struggle to justify premium pricing.

Competitive Pricing

Prices are set based on what competitors in the market charge.

Three approaches:

• Match the competition – Charge similar rates to stay in line with the industry.

• Undercut competitors – Charge slightly lower to attract more clients (risk: lower profit margins).

• Premium pricing – Charge more than competitors to position yourself as a high-end choice.

✅ Pros:

✔ Easy to implement – Requires minimal calculations—just compare competitor pricing.
✔ Good for entering the market – Helps new photographers align with industry standards.
✔ Flexible strategy – Can adjust prices to match, undercut, or position as a premium choice.

❌ Cons:

✖ Doesn't account for personal costs – Might price too low to stay profitable.
✖ Race to the bottom risk – Undercutting competitors can erode profitability.
✖ Ignores perceived value – Clients may still choose a competitor based on brand, experience, or service rather than price.

Hourly or Time-Based Pricing

Charges are based on the hours worked, including shooting, travel, and editing.

Example: A photographer charges $100 per hour, covering both shooting and post-production.

Works well for commercial shoots, events, and assignments where scope can vary. This model ensures you're compensated fairly for all time invested in a project.

What Should You Charge?

Photographers typically charge based on experience level:

• Student: $35 – $90 per hour

• Semi-professional: $50 – $150 per hour

• Professional: $75 – $300 per hour

• Top professional: $250 – $500 per hour

The final rate can also depend on:

• Complexity of the shoot – More production, lighting setups, or editing time increases costs.

• Location – Big cities often command higher rates than smaller towns.

• Client expectations – Some clients may require extensive revisions, prints, or commercial licensing.

✅ Pros:

✔ Fair for labor-intensive work – Ensures you are paid for all time spent on a project.
✔ Easy for custom jobs – Works well for events, corporate photography, and unpredictable shoots.
✔ Prevents underpricing – Reflects the actual effort required for each job.

❌ Cons:

✖ Harder to scale – Earnings are limited to hours worked.
✖ Clients may push back – They might not see the value of behind-the-scenes work.
✖ Doesn’t account for expertise – A highly skilled photographer may take less time but produce better results.

Package Pricing

Instead of charging per hour or per image, photographers offer bundled packages that include a set number of photos, edits, and additional services.

Example: A portrait photographer might offer:

• Basic Package: 30-minute session, 10 edited images – $250

• Premium Package: 1-hour session, 25 images, print bundle – $500

Packages make pricing clearer and more appealing for clients while ensuring profitability.

✅ Pros:

✔ Simplifies pricing for clients – Clear, upfront costs with no surprises.
✔ Increases perceived value – Clients get a full package rather than worrying about hourly rates.
✔ Encourages upselling – Allows for premium packages with add-ons like prints, albums, or additional edits.

❌ Cons:

✖ Hard to price correctly – Requires careful estimation of time, materials, and labor.
✖ Might undervalue work – If editing takes longer than expected, profits can shrink.
✖ Less flexibility – Clients may request additional edits or services beyond the package limits.

Which Pricing Model is Best?

Best for beginners → Cost-Plus or Competitive Pricing
Best for high-end photographers → Value-Based Pricing
Best for custom work & events → Hourly Pricing
Best for ease of booking → Package Pricing

Most photographers combine multiple pricing models for different services. For example, they might use hourly pricing for events, package pricing for portraits, and value-based pricing for commercial work.

Freelance Photographer Pricing 

As an independent photographer, you pay yourself an hourly rate AND take a profit margin.

When using the cost-plus pricing model, you treat your labor as a business expense separate from profit. This ensures that:

• You cover your time fairly – Your hourly rate compensates for your work.

• Your business grows – The profit margin ensures you reinvest and scale.

How This Works in Pricing

1. Pay Yourself for Labor (Your Salary)

Your hourly rate should cover the time spent on:

• Shooting (time on-site with clients)

• Editing & Post-production (culling, retouching, exporting files)

• Client Communication (emails, calls, meetings)

• Admin & Marketing (scheduling, social media, business tasks)

This ensures you're compensated for your actual work hours, not just the final product.

2. Add a Profit Margin (For Business Growth & Reinvestment)

Once labor costs are covered, a profit margin (typically 25–35%) is added to:

• Reinvest in new gear, advertising, and software

• Cover slow seasons

• Fund business expansion (e.g., hiring an assistant, upgrading equipment)

• Pay yourself extra beyond your labor wage

Example: Sole Photographer Pricing Breakdown

Imagine you’re a portrait photographer:

Business Costs Per Job = $50 (rent, insurance, software, website)

Materials = $20 (equipment depreciation, storage, prints)

Labor (5 hours x $50/hr) = $250

Subtotal Before Profit = $320

Profit Margin (30%) = $96

Total Price Charged to Client = $416

This means:

• $250 covers your personal labor as a sole photographer

• $96 is business profit for reinvestment & financial stability

Key Takeaways

✔ Labor & Profit Are Separate – Paying yourself a fair wage doesn’t mean your business is profitable.
✔ Profit Margin Builds Your Business – Covers growth, reinvestment, and financial cushion.
✔ Skipping Profit Margins Limits Growth – Without it, you’re just covering costs and won’t scale.

Score has free resources to help you price and scale your business.

Setting Up Automated Price Quotes

The final step in the puzzle is getting more clients. Connecting your pricing to an instant quote calculator on your website will automate bringing you qualified leads. 

Automating your quoting makes client interactions faster and easier and helps you book more jobs. 

Today's tech gives photographers smart tools to create instant quotes and manage bookings without having to drop what they’re doing.

Website quote generators

Adding an automated photography quote calculator to your website gets you more leads and saves you time on manual quoting. A website quoting tool works 24/7, so your clients can get price estimates whenever they want. 

Convert_ has a suite of tools for photographers to build smart pricing forms that:

• Give detailed quotes based on service choices

• Work out package prices with add-ons

• Take payments right through the platform

• Synch with your booking system

• Send follow-up emails automatically

Online quote generators save time and increase your conversion rates.

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Take Control of Your Photography Pricing

Pricing your photography services doesn't have to be a guessing game. By following a structured approach, you can remain profitable while staying competitive.

• Calculate your costs – Track equipment expenses, labor, and overhead to determine your baseline.

• Choose the right pricing model – Cost-plus, value-based, hourly, or package pricing can help you meet your business goals.

• Automate your quoting process – A smart pricing calculator on your website can generate instant quotes and streamline bookings.

Now it's time to put this into action. Run your numbers, set your rates confidently, and start charging what your work is worth!