Actual wedding production costs

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  1. EarlC
    Moderator

    What wedding production costs...

    There are certainly other, different and alternate incidentals but I break down the average cost to produce an average wedding to this = $1,709.

    And that is not figuring on two operators at the event for 8 hours, only 1; also only 30 total hours editing, not a possible 40 to 50 or more in some cases.

    Anybody else care to add, share or take away from these figures?

    Person hours 8 x $50 per hour = $400
    Road time hrs 2 x $25 per hour = $50
    Gas/car exp = $16 avg
    Food = $20 avg
    tape stock = $18
    Editing 20 to 40 hours @ $35 per hour = $1,050 for 30 hours
    Insurances = $20 avg per event, based on a $1K annual premium?
    Electricity = $5 (no logic applied, arbitrary number)
    Equip depreciation/wear = $25 per gig avg
    DVD, ink, paper, cases = $5 per unit
    Postage = $10
    Web costs = $20 per gig avg est cost
    Advertising = $20 per gig avg est cost
    Space, office, room use = $50 per event/gig est

    At $1,709 I'd have to make $50 per hour based on an estimated 38 hours
    per wedding/gig to break even. Based on $75 per hour for 38 hours, I'd
    be bringing in $2,850 - a potentially feasible/reasonable price point.

    I'm not averaging this on weddings, and not too many others are either.
    Essentially, we're all losing money on weddings that call for an
    investment of 40 plus hours and are bringing in less than $3K.

    This makes wedding video production truly a labor of love, no pun intended.

    Posted 2 years ago #
  2. jimcvideo
    Member

    Yep, I agree wholeheartedly. The client is getting a steal anytime they book a sub-$3k package. It's a pity that so many couples don't see it that way.

    I love doing weddings, but I've thought of getting out of it specifically because of the low perceived value. Recently, theweddingreport.com stated that 81 percent of brides hire a photog, and only 37 percent hire vidoegraphers. And when you think about it, most of those folks probably "had to" hire a photog, and only hired a videographer because they were convinced that it's a good idea.

    Sometimes I wonder why I do them, really. I mean, I have to convince the bride that Uncle Vinny can't do a better job than I can, only to have them try and haggle over a price that's already half of what I'm worth. Finally, the event comes, and instead of a weekend relaxing I find myself chasing bridesmaids and rescuing receptions from lousy DJ's (it's really happened!).

    I love doing them though. I'm not sure why, but I do love them. :-)

    Posted 2 years ago #
  3. birdcat
    Moderator

    I was just at a pro video assn meeting last night (first time for me with this one)  and one guy was saying his standard price for weddings starts at $1700 (he did one last month for $5300 however).   The group's moderator pointed out that in this economy, you take what you can get to keep the camera rolling - even as little as $500.  I guess that makes sense but boy that comes out to very little $$$ for such an investment in time....

    The only wedding I ever did was for a friend and I filmed for over 12 hours (spent the whole day with them as they prepared plus the ceremony & reception) plus well over 120 hours of editing (it had to be perfect as it was my gift).  They loved it but I don't know if I could do this for a living - I am way too much of a perfectionist and I don't know if I could get what I wanted in only 30 hours (although there are some who have a model/template/formula they use that allows for a one day edit).

    Bruce Paul
    7Squared Productions
    http://www.7squared.com
    Posted 2 years ago #
  4. J.D.
    Member

     Hi Earl,

        I'm just starting out and read your post with interest.  I bought the equipment to start a part-time business basically to keep myself busy.  It's part-time and I enjoy shooting and editing.  I have a full-time job so there's no pressure to make the "big" money, but like anyone, I would like to pay off the equipment costs. What I found interesting was the tape stock at $18.  I'm paying that per tape to feed my machines (Canon XH-G1S).  Am I going overboard?

    J.D.

    Posted 2 years ago #
  5. jimcvideo
    Member

    Wow, the G1s? That's a beefy camera for a side hobby. I'll be happy when I buy a set of A1's.

    I'll be honest and say that I buy tapes on the cheap. For SD recording, I've always been happy with the 8-pack of MiniDV tapes they sall at Sam's Club for $18. Works out to just over two bucks a tape, and I virtually never have issues (well, one of my cameras needs a head rebuilt, but that's not due to the tapes as much as it's Canon's crappy heads on the GL series).

    When I go HD, I doubt I'll settle for those same tapes, but I don't think I could ever justify spending $18 on a single tape, at least unless I was recording on some larger type of tape.

     

    And I really really don't want to derail the thread, but what exactly does the G1 have that the A1 doesn't? Honestly, looking between the two, the stuff I see that's different (genlocking, etc) is stuff that I really don't see myself needing. But you've got a G1. Convince me I'm wrong :-)

    Posted 2 years ago #
  6. jimcvideo
    Member

    Wait, on second thought, answer my question abut the G1s vs. the A1s at this link, as to prevent thread derailment.

     

    Thanks!

    Posted 2 years ago #
  7. EarlC
    Moderator

    J.D. I currently continue to shoot the vast majority of my work using standard definition on a pair of Canon XL1 and a Canon GL2. For all my productions, even when I am shooting direct to hard drive and using tape for backup, I have used Sony Premium MiniDV. When I have gone with another brand, back in the early days of my MiniDV acquisition, I ran into head clog problems and stuff. So, after getting the heads replaced in BOTH XL1 cameras twice and the complete drive path assemply replaced in one of them once, I NEVER allow myself to be tempted to change tape type or brand again. I will recycle a one-time or twice used Sony before taking the chance. Once bitten, and all that...

    If I were to go with a unit that uses the HD rated tape I would simply factor in the tape stock costs. For nearly all my commercial jobs tape stock fees is a line item and payable over and above other charges. I treat it like sales tax, it is a cost carried the client over and above my service and production fees.

    I have still not been sold off the HMC150 Panasonic SDHC cameras as a early/late fall 2009 acqusition (will need a pair) so tape soon, for me, will not be an issue.

    Gads, I highjacked my own thread :-)

    Back on topic: What I wanted to do with this thread essentially was bring to mind that many things in the line of our work, especially in wedding production, are treated as inconsequential and not factored into the equation when we want to actually get a 99-percent accurate picture of what it takes to produce an average wedding. I didn't go into detail with the many things that we purchase and use in conjunction with our wedding production, or lump it into a misc category, but I probably should have because I suspect actual production costs is closer to $2K than even I care to accept.

    On another forum a guy pointed out that he (admittedly) underpays college students or other desperate individuals, carries NO insurance (seriously taking chances here, especially when hiring out or outsourcing work - not to mention the potential for Uncle Sam considering these people employees rather than contract labor - whole nother issue...) and that he believes a person doing all the work himself (acqusition AND editing) is out more than hiring people on the cheap to shoot and/or edit. I can't seriously wrap my head around that concept. But, regardless, it remains a COST and cannot be left out of the equation.

    Another guy pointed out that regardless of the "costs" I didn't include "market" in my assessment, but I responded that "what the market will bear, spend or what it's perceived value is) isn't elemental to factoring THE COST of doing a wedding production. Basing pricing on "what the market will bear" is something a LOT of us do, myself included, but that doesn't mean we're doing it right where expenses, income and profit come together. Market attitude isn't a factor in calculating hard costs of production.

    Consequently, many of us do simply set pricing that we feel is competitive, do MORE work than it pays for, and go on about our happy ways with no regard to the fact that if we were to depend on doing this day in and day out for a living we would soon run out of money, go out of business and start looking for the employment line again. Those of us, and I started there as well, who have regular employment can subsidize our wedding (or other) production side-line business to a degree, but sooner or later, if we're not making a concerted and focused effort to at least break even or make a profit, we're going to overwhelm our financial resources no matter the money we have coming in.

    I'm going to get stupid here, but really think about this: If you ONLY pour water OUT of the jar and never replinish the levels it will eventually go empty; likewise, if you pour out more than you replace, ditto; AND, if  you add water from other jars without renewing the sources for ANY of them, they will all eventually run dry. Same with expending MORE than you bring in to produce wedding, or any other, videos.

    Posted 2 years ago #
  8. headtrip
    Member

    Editing 20 to 40 hours @ $35 per hour = $1,050 for 30 hours

    at an estimated cost of $1,709, cutting expenses here is where you generate profit. could you break that down into what you think it costs you per step. importing from tape, actual editing, and then rendering/burning to disc/uploading, or however you think you need to break that down.

    Posted 2 years ago #
  9. EarlC
    Moderator

    I'm not positive I am understanding what you're trying to say headtrip. And I am NOT trying to ridicule you or poke fun.

    Essentially, based on a certain cost per hour for provision of services, yes you can find ways to trim an hour here, shave a minute there and wind up with a reduction of the 30-hour average. Those who are taking 40 hours, or more, often are aware of this and making efforts to get their skills and formulas to the point where they can target 30 hours.

    Those taking 30 are targeting 20, so on and so forth...

    IF we accept that, generally speaking an average wedding production costs $1,709, and that based on the hours calculated to achieve a finished product we would need to make $50 per each of those hours in order to "break even" then doing the job in LESS than the total hours in my formula only results in doing better than breaking even if we sustain the income that $50 per hour generates. If our rates decline as we reduce the hours, this is self-defeating.

    I can appreciate that further breaking down the 30 hours can enlighten us as to what is taking too much time, and where to focus an attempt on reduction of production time, but other than identifying those elements, just the general knowledge that if I am ONLY making $50 an hour, AND putting in 8 or more hours in shooting, and another 30 or so in production then I am just going to break even helps keep me focused on sustaining or increasing my pricing structure while at the same time finding ways to streamline my operation and reduce the time expended to do the job.

    The whole matter can be headache inducing and cause anxiety attacks :-)

    Posted 2 years ago #
  10. headtrip
    Member

    "I'm not positive I am understanding what you're trying to say headtrip. And I am NOT trying to ridicule you or poke fun."

    understood, it's not always easy for me to get my point across correctly in a forum post.

    my point is, if the customer wants a $1,500 wedding video (just guessing on pricepoint), you aren't  going to be able to do $1,000 worth of editing. the expense of editing is the only thing you really have to play with since it's the biggest expense and least necessary of the above listed. a $500 wedding vid (again a guess) you're basically going to shoot to tape (that's the correct term isn't it?) rather than actually edit the video. breaking down the editing process will help you determine how much editing you can do in order to break even.

    at some point quality will become an issue, that's where you draw the line and say this is my rock bottom price. pricing to the market doesn't necessarily mean doing the same work for a lower price. it usually means adjusting the product to fit what people are willing to pay vs what you need to make a profit.

    Posted 2 years ago #
  11. EarlC
    Moderator

    Now THAT I understood :-) and it holds true.

     

    Posted 2 years ago #
  12. NathanBlair
    Member

    I've been working with a really great Director Of Photography, who I've been learning a great deal from.  He said that instead of simply turning down clients who demand lower prices, he tells them something like "okay, well if you can't make the price of HD, I can offer you less hours of shooting on my Mini DV camcorder in order to fit your price range".  Essentially he seems prepared to fall back on services that aren't quite his most pristine quality, but which get the client their true money's worth instead of bending over backwards by not "breaking even", as you've put it EarlC.

    I guess likewise, hypothetically, if you go to a storage unit and you can't quite afford a large room, you feel better about the company if they offer you a smaller alternative instead of leaving you without options.  And say later in life, when you're making the big bucks, guess what storage unit keeps you as a customer...

    --
    Nathan D. Blair
    Video/Film Production Services
    Posted 2 years ago #
  13. Anonymous

     It is definitely sad that videographers are the last to be chosen and first to be booted out for budget cuts given the amount of work needed to produce a wedding film...

    Posted 2 years ago #
  14. In response to Aikidoken's comment... this proves the point, once again, that the average layperson doesn't get it at all, about what we do. My work is mediocre compared to "Real" wedding videographers, most weddings I've done were done as favors, and as the saying goes, you get what you pay for. I've seen some outstanding wedding videos and tip my virtual hat to the hard working wedding guys out there.

    I have a question that I haven't been able to answer: when do you deliver the finished product? Do you promise to have it done by the time they return from the honeymoon? Or by a certain number or weeks...? or...? And what if they want it re-worked? What if you miss something, what do you promise? Being the wedding videographer is as much pressure as being the wedding planner!

    Managing Editor
    jorourke@videomaker.com
    VM Customer Support: 1-800-284-3226
    Posted 2 years ago #
  15. birdcat
    Moderator

    I hear ya chick.

    I considered going into the wedding video biz a few years ago, then I saw the work of Glen Elliot (http://www.glenelliott.com). Knowing that my product will always be inferior to his kinda keeps it real...

    Posted 2 years ago #
  16. EarlC
    Moderator

    I target 2 weeks, I often experience client delays (for whatever the reason) in delivering photos, preferred songs, whatever, taking my average to 4-6 weeks. I promise 90 days and have not taken THAT long in a long, long time.

    While I am not a high dollar, ultra-artistic or visually expressive wedding video producer, and do not attempt to reach THAT client base or try to stay in business as an exclusive wedding video producer, I also do not feel intimidated by the talents of people like Elliot, Dave Robbins, Bret Culp, or even Randy Stubbs in San Diego, Calif. They have developed, earned and claim rightful ownership to an elite category of such productions while I only include wedding video production among my diversified operation that focuses on ALL celebrations of life, corporate, small business and SIV. I also enjoy the diversity, and am afraid I would burn out rather quickly if I did, say, 40 to 50 weddings a year.

    So the bridal budget range I attract is suitable for me, my creative standards and make short turnaround a possiblity that the ultra elite cannot hope to achieve. They, however, do establish a reputation and a branding that holds up to long and extensive, not to mention expensive, creative wedding productions.

    An interesting thing I have noticed, and noted in various posts and on my blog site, is that the earlier I turn a wedding production around, the greater the increase in referrals - either from the clients themselves, or people with whom they have shared their production "while emotion, curiosity and interest" remains high, or people who saw my company in action at the event and heard one way or another that I turned around a quality product with good visuals and understandable audio in four weeks or less.

    I think long delivery times put too much water under the bridge and people get busy with their lives. Disappointment sets in, and with the advent of virtually instant photo delivery videographers no longer have the argument that even if they take six months, or longer, to deliver they got the video delivered long before the photographer. That went out with Kodachrome.

    In today's society people are into instant gratification. Waiting, even for the wine and cheeses, is something they're not often willing to do. The sooner you deliver a quality product, the longer they will remember you in a positive light. The longer and later, they will continue to remember you, but to others and not in a way that brings about more business.

    Posted 2 years ago #
  17. jimcvideo
    Member

    Video Chick,

    For 2009, I bought a live switch, and for most of my weddings so far this year, I've mixed the ceremony live. I used to be a director for a live TV program, so I was very comfortable mixing this. Let me tell you, it's been a huge timesave. Typically I have the wedding video in the mailbox on the Wednesday or Thursday after the wedding.

    Let me tell you, NOTHING helps the image of a wedding video producer like a fast delivery. Business has picked up more than enough to make the extra expense worth it.

    Posted 2 years ago #
  18. Cville
    Member

     As you all are speaking of quick delivery I thought I would mention a  wedding I attended early this spring.  There was a 3 person video crew.  They must have done some quick editing between the wedding and  the reception and showed about a 3-5 minute highligt video at the reception.

    Posted 2 years ago #
  19. jimcvideo
    Member

    We offer that as well. You have to pay BIG money for it, because it's a lot of work, but it's a neat feature.

    Posted 2 years ago #
  20. digitalhq
    Member

     Wedding video is definitely a tough sell.  It's usually last on the bride's priority list, but I have to think, in this multimedia 21st Century, isn't it the perfect medium to share your day with others?  Much more exciting to sit down and watch a cinematic wedding film than look at a photo album, isn't it? 

    On another point altogether, my main struggle is relaying to the clients how time consuming and tedious video editing is.  Many people have in their mind that a wedding video will only cost a few hundred dollars, but they're often not satisfied with a basic cut and paste production.

    Posted 2 years ago #
  21. Anonymous

     Hi Cville,

    We are one of the two companies(out of 20+) in our city (Winnipeg, Canada) that does what we describe as a Same Day MTV Edit. Here is a sample

    Get the Video Player

    Its definitely not for the faint of heart but its fun and exciting to do..imagine getting paid good money for 250-500 people to watch your wedding film..now that is priceless !! Our business have picked up considerably because of this ..

    @Digitalhq

    A Wedding Film is still not accepted by a lot of couples as a must have for their wedding...I think its mainly because of what client's have seen previously or the type of experience someone close to them had..kinda ruins it for everyone when someone offers to charge $350 to film the whole wedding day, just your basic cut and paste editing and worse;  deliver the final product a year or so later...the most common comment we've received from clients is " i usually fast forward and will only watch once so why pay money when my uncle/cousin/friend can do that with their own camera?"

     

    We deliver the final package 8-12 weeks. The film is usually about 45 mins - 1 hr long ..

    Posted 2 years ago #
  22. imagep
    Member

     Don't take me wrong here, I am just trying to learn a little more about this industry, but...

    I see that yall are talking anywhere between 4 weeks and a year to have a finished wedding video, that apparently actually only takes 50 hours or so of time.  I dont understand.  So yall get a job, film it, and then wait weeks or even months before you bother to edit it?  Dont customers get mad?

    I am in a similar industry, we have a customer place an order, we create the artwork usually within a few days, sometimes within hours of the order being placed, we send our customer a proof, they approve it usually within a day, and we produce the product the next day.  Our typical turn around time may be anywhere from 2 days to a week - and they STILL get mad because we are so "slow". 

     It seems that a one person business would turn around a wedding video, based on the info that yall have presented here, in a week or a week and a day (48 hr total man hrs).  It's not like you are having to send film off to a processing lab or anything is it?

    Also, for a one or two person business, I don't understand why you cost your labor at $25-$50/hr.  Our labor costs run half of that.  For accounting purposes shouldn't you use actual labor cost (like if you pay yourself $50k/yr that would work out to $25/hr) and anything above that real life salary is the profit and not "cost"?  So the first example on this thread, about $1,500 of the "cost" is actually labor at $50/hr - but surely you can hire people for less than $50/hr - so maybe the real labor "cost" is only $750? 

    I once had a friend who worked for a office supply store, he was trying to get me to purchase paper from the office supply company, but quoted me a price that was twice the price that I could purchase it as Sams for.  I told him that, he pulled out this spreadsheet that had a collumn that read "cost" and told me that he was offering it at only $1 per case over "cost".  I noticed the figure in the first collumn that had a much lower price and then several other collumns that had other amounts.  I asked him what all that ment.  He explained that the first figure was what they actually paid for the paper, the other collumns were what they added to that figure (overhead, commission, warehousing costs, company profit, bla bla bla) to come up with the actual cost.   I had to explain to the guy that what he was actually asking me to pay was a dollar over "suggested" retail price not over cost.   Cost is raw cost actually paid for raw materials without overhead or profit - if you add in overhead and profit then that is retail price. That company went out of business about 4 years ago.

    Posted 2 years ago #
  23. EarlC
    Moderator

    imagep, you have a few misconceptions about the realities of video production costs and business, as well as what actual costs of goods are. But there's no need to get into a discussion here regarding  your approach VS another's approach, VS the right or wrong approach. Beyond my observations below, I cannot see the positive side of getting into a debate over the subject.

    REAL costs of goods, services, labor or whatever are the sum of all things affecting that cost, not JUST what you went down to the dime store, or warehouse and spent to acquire a bundle of something wrapped in paper. If such things as time, gas, insurance, stamps, pencils, ink, paper, etc. are not taken into account, then the bottom line is not an accurate representation of what is going out VS what come in.

    Some might be satisfied with a $25 per hour rate for provision of professional video production services. I and many others in the industry are not, nor should we be.

    Posted 2 years ago #
  24. birdcat
    Moderator

    Imagep -

    Earl is spot on - I could not keep my family afloat for $25/hour.  If I were to be in business full time as a wedding videographer, I would need to clear at least $100k/year gross per person to cover salary, benefits, insurance, cost of equipment (purchase and upkeep), consumables (blank DVD's, tapes and/or cards, cases, etc...), cost of doing business (rent, phone, business cards, advertising, postage, office supplies, etc...).

    And that would require a minimum of taping three weddings per month @ $3000 each with turnaround in the 7-10 day timeframe.

    Personally, I don't see how most wedding/event videographers can stay in business if this is their only source of income.

    Also, videographers/producers are artists - You could buy canvas, paint and brushes for under $100 but what would you have at the end of the day?  I look at the likes of Glen Elliot (http://www.glenelliott.com) and could easily equate his work to that of any outstanding (and profitable) contemporary artist.

    But about the delays - you are correct - I have heard horror stories of couples waiting months for their products - There are many in the wedding/event video business who give a black eye to all those who turn around a final in less than a week - It all depends on skill, ethics and priorities.

    Posted 2 years ago #
  25. Anonymous

    imageP,

    What Birdcat and EarlC are indicating in terms of compensation is the norm in the wedding video business..seriously, $25/hour is a joke. An average Photographer charges between $75-$200 an hour so maybe take up  your cause with them :)

    If you are unhappy about how we get compensated , that's too bad for you..In the end, the majority of couples understand the work that needs to be put in to deliver a high quality wedding video; so they always ask us to take the time required (certainly not 48 hours) to do our job without rushing the work.  I sense your apprehension about how we make money..i tell you its not bad ..not bad at all..  just like what Borat said "Ish bery nice!" hahahaha!!

    Posted 2 years ago #
  26. jimcvideo
    Member

    I'll echo what Earl and birdcat have said, in that there's a lot
    more to the actual "cost" than just be physical deliverables and a
    paltry hourly wage. Too much work goes into each product to sell them
    for so little.

    When I got into wedding videos, I thought the same
    thing as you, that everyone in the field charged too much. I tried
    selling $400 -$600 wedding video packages. That was possibly the
    biggest mistake of my professional career. For starters, even though
    you'd think it would be exactly opposite, the folks buying cheap
    packages were the pickiest, rudest, most demanding clients. I don't
    know exactly what causes this, but I think it's because cheapskates
    looking for a deal are usually so caught up in their wants that they
    don't always realize they're getting a deal. Then there was the time
    issue. I was spending 40-50 hours a week on wedding video production,
    and because I was charging so little, I was also working a full-time
    job to make ends meet. It was burning me out.

    The bottom line is that there's no way to live charging such low
    rates. Even charging as much as $5000 per wedding, I still try to take
    at least one corporate job per month to make sure bills are paid and
    food is on the table.

    As far as timeframes go, again, you have to remember the field
    you're in. That 30 minute TV show you watched last night on TV? It took
    a team of people a couple months to turn that around. (They also
    charged a HECK of a lot more than $2000-$5000 for their work, but
    that's another topic.) So I have no problem with telling clients the
    may have to wait for up to 90 days for a 90 minute video I produce
    solo. And almost all the time, my clients understand this. Now, I've
    almost always delivered my products well within a month (and remember,
    if it takes a week and a two days to edit a video, and you do one every
    week, you're falling two days behind on every project, which can add up
    by the end of wedding season), but recently, thanks to aquiring a live
    swithch setup, I can now almost always have a wedding done in a few
    days. And because I can deliver faster, I've actually started charging
    more that I did before, because 1-They're getting a better service, and
    2-I invested a great deal of money into the production costs.

    And for those folks who insist on complaining about the price
    wedding videographers chargs, I always enjoy pointiong out that many
    corporate video production houses charge upwards of $2000 per finished
    minute of video. If wedding videographers were charging this rate, a 60
    minute video would cost $120,000. Wouldn't that be great! :-)

    Posted 2 years ago #
  27. m_parkansky
    Member

    I'm kind of bummed out and discouraged, frankly, after reading all of these posts about wedding videography. I am 23 and a college student in Green Bay, WI, and am doing some wedding video editing for a guy now, trying to get experience so that in a year or two I can start my own business in Wedding Videography. I just recently bought a new office set up (desk, chair, supplies, etc) and a new computer and new software to invest towards my future business. I'm saving money to get 2 Panasonic HMC150s, tripods, and other equipment. All of this for the purpose of getting into the wedding business soon, and I was under the impression that it would be a luicritive business. When looking at market prices, at approx. $2,000 a pop, I saw a great profit (after equipment expenses were out of the way), besides the smaller costs of tape/sd cards, marketing and advertisement, DVDs and cases, etc. I just can't see anything wrong with bringing home $2,000 a week, assuming 1 is shot a week...

    I have a different point of view, I guess. Instead of seeing the editing as an hourly cost, I see every wedding as being paid a weekly pay. $2000/week sounds good. And I hope not to sound insulting, but there are people out there doing a lot of crappier work for a lot less money. I came from working $2.33 as a waitress 5 years ago to $8.00 as a gas station employee and $10 currently working 3rd shift at a printing company ($320/week). If we are going to look at this from an hourly perspective...even if I was paid $25/ hr, which is apparently an insulting amount, I would be overjoyed and grateful for life. Y'all filmmakers are spoiled! $35/hour for editing? Thats an amazing pay off. And not to mention the benefits of owning your own produciton biz. All of the work is done from home or your very own office, you are your own boss, and if you have a laptop can even take your work along with you wherever you want to go...out of town....on vacation, etc. Not many people have that luxury. And you make your own hours! I still want to maintain my optimistic point of view here, does anyone agree with me?? I know most of you have been in this business for years and years and are deffinately deserving of making good money and having your work treated with respect, but I guess I would like to see a little more appreciation from the people in this forum for their career than I've been hearing.�?� 

    �?� 

    Compared the the $10 I make working 3 shift at a printing company, come on... thats money to me. I assumed that after purchasing my equipment and hiring a web designer and website host that my big expenses would be out of the way, the big costs were over

    Posted 2 years ago #
  28. Anonymous

    that's where the problem lies, you cannot look at wedding videography in terms of an hourly rate..it is more project based   ..depending on the your current project (given that you have some  ideas about how to shoot ,edit and turn in the final copy ) In the beginning we were so happy just to receive $1000 per full wedding (12 hrs to shoot and 60-80 hours post production works out to $11/hour) until we realize that we will not be able to do this long term at this rate... or if there are no significant rewards coming our way..that is just good old fashion (common) business sense..

    Let us know when you reach that point...

    Cheers,

    Posted 2 years ago #
  29. EarlC
    Moderator

    Spoiled! SPOILED? The realities will eventually hit you. The problem with many people playing at conducting an exclusively weddings video production business do not, or cannot understand or comprehend the actual and true costs of doing business.

    I go out of town, and NEVER on vacation, only to work a gig. I diversified because the realities of what can be made from, what is made from, the perceived value of wedding video production by consumers, the hours it takes to produce is way more severe than practically anything else you can pursue as an independent professional video services provider.

    Spoiled are people who work for companies that offer benefits, vacations, expenses, perhaps even some joke of an insurance and retirement plan. You want to discovered NOT being spoiled - go into business for yourself! Hope you're a fast learner - about the business realities, not the FUN of doing wedding video production exclusively. It CAN be lucrative, but it requires more than simply a way with cameras and a creative mind, you have to know how to run a business as well, and that requires knowing your TRUE costs, setting your rates to cover them, AND see if there's the possibility of making a PROFIT after all the other is factored in.

    The business is a good one, but don't go into it wearing blinders and rose-colored glasses my friend, you are in for a rude awakening. There's often a huge difference between what a person would LIKE to believe and the reality of it all.

    Posted 2 years ago #
  30. imagep
    Member

     m_parkansky - there is nothing wrong with bringing home $2k/week based on one gig a week.  Thats darn good money.  If you make $10/hr as a printer (I own a printing company by the way), that represents a big step up and "profit". 

    Thats what I was trying to explain in a earlier post, I was not knocking these guys for charging thousands for a wedding video, I was simply trying to correct an accounting misassuption.  When looking at hourly rates, anything that you charge over actual hourly cost is profit - not cost.  So if you currently make $10/hr and you start charging $50/hr plus expenses, then you are now making a profit of $40/hr.  Darn good in most of the world.

    Cost is cost, not cost plus profit.  If you pay $50 for something and you sell it for $100, $100 is not your cost, it is your PRICE until it is actually sold at which time it becomes your revenue.  $50 is your cost (plus possibly any other expenses relating the the aquisition or upgrade of the item/service).

    No reason to get discouraged what so ever.   A $40 per hour profit is awsome and as a self employed person, a $100k/yr would put you in the top 5% or so of inoome earners in the US.

    Your next step would be to take your self-employment situation up to the next level - which is actually owning a business.  A business is something that can make you money even if you are not involved in it.  Most "business owners" are not really businesss owners, they are self employed.  If they got sick or died, all income from their activity would stop.  To have a business, in most cases you have to have employees and managers.

    Posted 2 years ago #

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