Being a wedding photographer can be a fun and rewarding career. However, not all wedding photographers are successful financially. Most businesses fail within the first 3 years of operational. This can be attributed to a few factors. One of those is not have a proper business plan. Part of that plan should include having a well thought out price list. Many factors have to be considered when establishing your photography rates. This includes and not limited to; income requirements, advertising and marketing expenses.
A budget must be in place for generating new clients through advertising. Without advertising your services how can you expect to grow your business? Referrals and friends is one option to not investing in advertising. However, do not expect your new career to blossom rapidly.
Make a list of all possible expenses you can expect to incur. How many clients will you need to break even? How many more to earn a living and make a profit? Until you can answer those questions your price list will never be finished properly.
