What do you all put into a quote for Video Editing?

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    • #90816
      AvatarRWS
      Participant

      Hi people!

      Recently, my quotations have been very long and detailed.
      I have a hard time finding the balance between the quotation and the contract once they decide to hire you. Both very important, but if the latter is just a repetition of the former.. what’s the use?

      Clients tend to want a quotation before they’ve sent me the footage, which makes sense, I guess. But it also leaves open quite a bit of estimation of the unknown. We have to make a quote based on descriptions by the client and we try to understand fully what the scope of the project will be. If we’re not specific enough.. we’ll most likely lose on the project. But if we’re too specific.. it gets kinda dull for the client and, frankly, I think I lost a few because of it.
      And the whole point of making a quote is to get the client … not to lose them.

      I work those out in a standard format and try to be specific about the work and how I get to the pricing of it.
      Clients usually seem to only want to hear a price.. without explaining anything at all. So, you already have to ask them so many questions to understand the scope of the project… and then they receive a very long email with the outlines of the work you will do for that project and the pricing and what they will pay extra if etc..

      It starts to look like a contract more than a quote.

      Makes me wonder how you people handle these things. Any examples of a proper quotation? Could I leave stuff out.. etc..

      Thanks everyone!

      Looking forward to your input!

      Rick

    • #214243
      AvatarJackWolcott
      Participant

      I agree with you: clients want to hear the price. In my experience they do not care about the details that go into arriving at that price.

      Our company has been in business for 18 years, during which time I have never given a “quote” to a client — that is, an itemized list of all the costs involved and a firm figure for what the job will cost. Everything is an estimate, based on how much time I think the job will take.

      I listen to what the client wants, make a calculated guess at how much time it will take to deliver, then tell the client estimated time and our hourly rate. I always build in a check point: e.g.., “I estimate this job will take between 20 and 30 hours to edit. After twenty hours I’ll let you know where things stand and you can decide how much more embellishing and how many more changes you want to make. VO talent will cost $100 per hour and based on what you’re asking for now I estimate it will require 4 to 6 hours.

      Remember, these are estimates. You’re being charged for time and materials. My estimate for the job is between X and Y, with actual costs probably coming in closer to Y. It can go quite a bit higher if you make numerous changes.”

      It’s always best to estimate on the high side. When you come in below the estimated cost you’ll have a very happy client.

    • #214264
      AvatarHenry18
      Member

      “I agree with you: clients want to hear the price. In my experience they do not care about the details that go into arriving at that price.” Yeah, I totally agree with your opinion.

    • #214266
      AvatarJackWolcott
      Participant

      We give a fixed price for shooting. X number of dollars for a half day, Y dollars for a full day. We have a four hour (half day) minimum, even if the actual shooting is only for a hour. This price covers setup, tear down and the actual shoot.

      Editing is always by the hour. There is absolutely no way to predict how long it will take to edit a piece. I can estimate, based on many years of experience, but I can’t come up accurately with a specific.There are just too many variables: audio adjustment, color correction and grading, titles, etc.

      We also charge for review and changes.

      Hope this helps.

    • #214267
      AvatarRWS
      Participant

      Thanks Jack!

    • #214259
      AvatarRWS
      Participant

      Thanks Jack,
      I appreciate it.

      I’ll try this. Agreed on giving yourself some breathing room considering the final outcome.
      Mostly they’re looking for a set price. Do you ever work like that? Or always on an hourly budget?
      I’ve had a recent experience with a set price that cost me almost double the amount of hours. Never had that before though..but I guess I should have been more specific beforehand on what exactly goes into the ‘fixed’ price.

      All learning money.

      Thanks for your input!

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