Videomaker – Learn video production and editing, camera reviews › Forums › Specialty Topics › Wedding and Event Video › Actual wedding production costs › m_parkansky, I actually ne
m_parkansky, I actually never intented to indicate that editing time is not a cost. It is a cost, but probably justnot a $50/hr cost.
One of the experianced videographers here gave an example of how he only ends up making $13/hr. The truth is, if he is willing to work for $13/hr, that is what he should base is labor cost on. Im not suggesting that he price his work for that, but if he is willing to work for $13/hr, thats his cost. Now, all he has to do is to raise the cost of his $900 video to $1,000 and he can start actually making a true profit of $100 per video. If he raised it to $1,700 or more like has been suggested here, he can start making a profit of $800 or more. Do one of those a week and thats a true profit of $40,000+ per year, PLUS the $13/hr wage that he is willing to work for.
What these guys don’t seem to understand is the difference between their actual cost and what they charge. I don’t know how I can explain it any better than I already have. As I mentioned before, in my business, an hour of labor may cost me something like $15, I bill that at anywhere from $30-$100 per hour, but it still only cost me $15.
In your case, unless you hire employees, considering that you only make $10/hr now, you should most likely, at least in the beginning, consider your labor cost to be $10/hr, and anything you charge above that to go towards overhead and hopefully some profit.
I think that these guys have a lot of frustration as small business people. The same type of frustration that I have in my related business. They are expressing their frustration in a weird way by trying to ridicule statements that you and I have both made.
Truthfully, I tend to do the same when “outsiders” come to the three industry forums that I actively participate in (and actually have businesses in). I think that we both offended and stepped on toes here – we will all get over it.