-
Pricing Structure for New Business Venture
Hi There,
I was wondering if someone can assist me with some pricing structures. I’m in Sydney, Australia and have just started my own small video editing business from home so I can still look after the kids. What I do is photo montage with menus, music, scene selection as well as a DVD consisting of both VHS Video footage and heap of photos and am not sure just how much to charge out. Does anyone out there have any idea.
ta
anna -
3 Replies
-
Some tips on figuring out a price.
See what people are charging locally for similar service.
Find out what you’d need to cover your bills, housing, utilities, food for the family, equipment maintenance and replacement when the time comes, insurance, software upgrades, any marketing expenses such as paying for web page, business cards, advertising of any sort.
Figure an ideal of 20-25 hours of paid work per week. Another 15-20 hours unpaid for marketing – web pages updates, talking to potential clients about jobs, system maintenance, doing paper work, etc.
Take the number of hours of anticipated worked and divide by your above costs. That will give you a good idea what you need to charge per hour. You may find people are charging more or, often less (they’re giving away their serivces and will go out of business, the market is flooded with people doing the same work). Then you need to figure out how to get the price you need to stay in business.
If you need to charge flat rate, you need to figure out how long it will take to do a given job. Sometimes that takes experience. Many folks underestimate the time it takes when starting out.
-
Thanks for your advice. It certainly helped.
cheers
anna -
Hi Anna,
We may be able to compare notes…I’m an IT consultant but do multimedia as a sideline…..we might be able to help each other. Pls. call me at 0417-402-393 or e-mail rleyba@tpg.com.au. Best regards and good luck.
–robert
Reply to this Discussion! Login or Sign Up