Videomaker – Learn video production and editing, camera reviews › Forums › Specialty Topics › Commercial Video › Videography rates? › Whether setting a flat-rat
Whether setting a flat-rate or charging strictly on an hourly basis, the best way to get yourself in the ballpark is to check with your state’s standard estimated hourly wages usually found in your Secretary of State’s or State Economic Development webpages. There you will find what the base expected hourly wage for professions (including video and photography) are in your state. Use that as your starting point and factor in what it actually cost you to both prepare for and shoot an hour’s worth of production.
Knowing that information will help you adjust your potential rate per hour up or down. From there you can set up packages if you like, but don’t forget to include the time it takes to edit and prepare the materials to create the final product after post-production. Once you get a figure setup, then take a real-world look at what your market will truly bear. If you’re coming in too high, you’ve got either inflated rates from over compensation to be profitable or you’ve got potential unnecessary overhead that needs to be jettisoned. If you’re coming in too low, you’re most likely undercutting your expected profits and not including overhead items that are necessary to be ‘cheap enough’.
There’s a big diff between being ‘inexpensive’ and ‘cheap’. Inexpensive is cost-effective and still profitable. Cheap is cost-prohibitive because you are not bringing in enough to cover your costs just to be ‘cheap’. It’s a fine balance that will need to be tweaked and reworked many times as you work your way through the business of running a business.