Pricing by project or per minute

[Nathan Abbott]

How many days of PreProduction + How many days of Production / size of crew / talent required / + how many days of Post Production / music rights / animation / voice talent / dvd / bluray / master / web compression = total estimate.

This is something that I can understand and work with by adding or subtracting for my own work flow list.

As for the three part series, I started reading them and found them very informative. I’ve already put those pages offline so I can read it on my upcoming business trip.

Thank you.

[Nathan Abbott]

Have you done these before?

I have not. But, I have my first client, an optometrist, and I’ve already spoken to other private practices in the area and many have already given interest and their office manager numbers.

I can shoot, edit (with their input) and deliver a 15 minute video of a mocked up procedure (as above) in around 2 days.

Okay, I was pretty close. I had estimated 3 days depending on the situation. But I can definitely see most of the projects happening in 2 days, like you said, if I have my act together.

Thanks for the insight. Your reply has made me even more excited to get started on my next project in the medical world!

[Emre Tufekci s.o.a.]

I think the best practice is to determine what you are worth+capable and reverse engineer you price from there.

For example; if you think you are with $50 an hour shooting and same editing, meet the client and learn about the project.

From there based on your “capabilities” you can determine how long it take you to plan, set-up and shoot the event.

Than you can again estimate how long it will take you to edit the segment and multiply that by your decided hourly rate. Add additional caost when needed like voice over, duplication…etc. You have a quote.

Be careful to make sure your client understands the contract you have him sign states out clearly that any alternations to the production schedule may increase the cost. Also that they get a pre-determined hours to make any changes to the show and anything beyond that is calculated on an hourly fee.

Please allow me to politely write the next segment all capital:

MAKE A CONTRACT!!!!

Otherwise you will find out if the client wants more hours, pay you less or not at all you wont have a leg to stand on.

Emre Tufekci
http://www.productionpit.com

[Nathan Abbott]

I think the best practice is to determine what you are worth+capable and reverse engineer you price from there.

Now that is interesting. Along with Walter’s post, I think I can now put the first steady foot forward in deciding on rates.

Be careful to make sure your client understands the contract you have him sign…

I actually made this mistake when I first started. I agreed–verbally–with a client about prices and production schedule. Spent around $300 of my own money (said to be refunded) and hired 2 friends to make this promo video.

When I turned it in, he ended up not wanting to pay the $300 and wanted to cut our original agreed payment in half. I felt so stupid. That was the last time I have worked WITHOUT a contract.

Once you’re burned–even if it was your own stupidity that got you there–you’ll never make that same mistake twice. If a lesson is what is needed to learn, I’d rather have it learned sooner than later.

Thanks for your post.

[Mike Cohen]

[Mark Suszko] “What should I charge for a Puu-Puu Platter?”

Mark – can I substitute Chicken Fingers for Chicken Wings? And can I get extra spare ribs?

Don’t forget the fortune cookies.

Mike Cohen

PS – There was a restaurant in Lenox, MA called Luau Hale – actually it is still there, but in the 70’s and early 80’s it still has the outrageous decor of a tiki bar, complete with painted murals of the South Pacific, piped in music, mood lighting and the occasional hula show. It was such a special treat to go there, the whole family went. Puu puu platters were fun to eat.

Way off topic, but they say never to shop while hungry – same goes for the COW – never read forum posts while hungry. I gotta get me some takeout!

[Emre Tufekci s.o.a.]

And read this article:

https://magazine.creativecow.net/article/12-things-i-know-about-business-at-55-that-i-wish-id-known-at-25

One of the most important topics in the article is discounts being permanent. If you choose to do a discount for a first time client make sure the contract lists like this:

Item a: $1000
Item b: $1000
Item c: $1000

Total: $3000

First time client discount: 10%

Total: $2700

That will know your worth and you can demand full rate for returning customers.

Emre Tufekci
http://www.productionpit.com

[Mike Cohen]

[Nathan Abbott] “I’m not a professional editor, nor am I a professional videographer. However, I’ve spent the last 6 years using FCP and the HVX200, while working on commercial or indie film sets, so my experience isn’t limited either.”

I don’t know, that sounds like professional experience, but the word “professional” has various interpretations. If you can deliver work and get paid well enough to do it that the client is happy, continues to pay you and you are making a living, then in the most basic sense of the word, you are a professional.

Don’t sell yourself short – if you think you can do the job, do it. But don’t project self-doubt because others will pick up on this.

[Nathan Abbott] “How do you choose what to charge? $500 a minute? $2000 per project? What?”

As the others have told you, and as you can find in hundreds of posts on this forum, you need to know your costs, your labor rate and how much profit you need to make to support your business. We cannot tell you those numbers. You charge what you need to charge to A) not go hungry, B) support your business, C) invest in the company, D) have a salary that allows you to live in a house/condo/apartment/cardboard box (your choice), E) cover your costs.

[Nathan Abbott] “I know weddings will have a separate price tag ranging from $200-$30,000.”

Really, a $30,000 wedding? I would not want to meet that bride’s mother.

Good luck.

Mike Cohen

[Martin Curtis]

[Nathan Abbott] “But I can definitely see most of the projects happening in 2 days, like you said, if I have my act together.”

I said if they have their act together. Big difference 🙂

I am in a unique position where I can force (well, strongly recommend) people to actually have an idea of what they really want and make them do some work to achieve this (after all, they know their subject best). Many people think that all they have to do is make a phone call, I hit the big red “make a video” button and it happens magically without any further input from them. Kind of how like guys think babies happen 🙂

You may have to be more diplomatic – a template or even an explanatory video might help.

[Ned Miller]

I come here because I think Creativecow is for Pros. Nathan, no offense, try an entry level forum for such beginner questions.

But…my three cents, feel out what your client is willing to spend and come in right under it. There are no formulas. Your question is too vague.

Ned Miller
Chicago Videographer
http://www.nedmiller.com
http://www.bizvideo.com

[Nathan Abbott]

Ned,

Now that I’ve read all the articles posted on this thread and have done some other outside research, I agree, my original question was way too vague. I now understand. Though I am glad I posted here to get all this information where I found the solution to my question. Also, thank you for the forum suggestion, I haven’t checked one out yet, but I will when time permits.