Videomaker – Learn video production and editing, camera reviews › Forums › Specialty Topics › Wedding and Event Video › Actual wedding production costs › Hey guys, I perfectly unde
Hey guys, I perfectly understand that your labor is worth $50/hr. I never said otherwise. I just said that if you charge $50/hr hopefully your actual labor cost is less than that – or else you aint making no profit.
I think that you are misconstruing an accounting point that I was trying to make. Rant all you want, my accounting point is still valid. Let me refraise it so that maybe it makes more sense to you:
If you are charging $1,800 to produce a video, if most of the cost is labor, if your cost of labor is $50, and you only charge $50/hr, then you are not making a true profit, only a salary.
If you consider a$1,700 fee for a video with X hours of labor involved, roughly billed at $50/hr, is profitable,then obviously your true labor cost is less than $50.
Does that make any more sense?
And by the way, working at a newspaper or magazine is nothing like being in the “print for pay” business. I would imagine that operating a newspaper is much more complicated as you have multible clients for each product produced (the reader and the advertiser)and multible revenue streams (such as the price of each newspaper/magazine, and the advertising revenues recieved from them).
Print for pay is much more like videography. We meet with a client, find out what they want and expect, estimate what the artwork cost will be (based on our art labor rate), estimate what the production cost will be (based on labor and the particular equipment), estimate what consumables and COGS will be involved, give a quote, listen to the customer complain how high we are, and tell us that the place down the street only charges $XXX (less than us),listen to the customer demand that the job be finished by a particular date(which is almost impossible to achieve and stillcreate aquality product), tactfully explain to the customer that he/she is being unrealistic, then waitand see if the customer comes back to us or goes to the lowballer (who will most likely be out of business in a few months)down the street.
When I expanded my business from primarally offset printing to include screen printing, I had lots of people tell me “screenprinting is a whole different ballgame”. Then when I got into the sign business people told me the same thing. – Bulldookie – . Its exactly the same. We deal with the same customers, we produce similar products, have the same customer issues, and the same artwork issues, and the same production issues. Even the artwork creation and manufacturing techniques are virtually identical – or at least have very strong paralells.
Printing is an art, just like videography. It befuddles me how you see no similarity.
Of course, then again, I am a moron, I have only been in business for myself for 20+ years and only happen to have a BS Degree in Business Administration with duel concentrations in economics and finance. You guys all obviously have much more experiance in business than I do. I appolgize if I have offended anyone here, I did not mean to.
By the way, I went “window shopping” for equipment today. It was very enlightening.