The daily costs of a small photography business
Let’s assume a small photography business with a single photographer and a single assistant.
Gross Sales Target – 120K/year
Divided as follow:
Fixed Expenses- 20K
Adv. + Promotion – 10K
Cost of Goods – 20K
Employee/Contractors (no benefits)- 24K
Photographer Salary – 36K (30K Net, no benefits)
Profit – 10K (7K Net)
Those numbers are well below the real expenses of a photography business, but just for the example, based on a 250 working days, in order to bring in a net income of 30K/year, the business need to bring in $120,000/450days = $480/per day.
An average photography business spend only 5-10% of the time in actual shooting session, well over of 50% of the time is going to research, business development, marketing, education for keeping up with technology, equipment, softwares, products etc, the average gross sales required goes up to a $1,000/day.
So, from $1,000 per day in gross sales, the photographer end up with $30,600 Net Salary/2,080 hours = $14.71/per hour.
Not sure yet? read more under the ‘Education’ menu, or use the following links:
‘You Charge How Much’ By Michael Albany
‘Why Does Custom Photography Cost More’ By Child Photography
