How much should I charge for video services?
I'm a teenager trying to start a video production service. The idea is that I have friends who are practicing musicians and they want me to do promo videos for them.
However, the big question is... "How much?"
I'm not good with numbers. There's a lot that would go into this whole project for each video. What's a good method of pricing to go by? I have to script, get around to places to film, record the actual footage, and then edit it.
What would be a consistent method that I could use for pricing in any type of video, whether it be a single short music video or a full length concert. Should I charge by the duration of the finished product? Like, each minute of the film is X amount of dollars?
And once the method of pricing is decided, how much should I charge? I want it to be a profitable business for me but I don't want it to be so outrageous that people will think it is too expensive.
If you have any additional comments to leave for me, email me at email@example.com.
First of all, do some research and find out how much others are charging... that will give you a general idea.. Then, sit down and work out exactly how much each project would cost you.. everything, right down to paper and staples! then work out a decent, professional rate you would expect to pay someone per hour. Work out how long each finished video would take you, with everything taken into consideration, the actual filming, and then editing etc.. Then multiply hours taken by hourly rate, add extras and petrol, and see how YOUR total compares to another companies quote... you are, at the moment, a beginner, so your rate should be very competitive compared to others, so you should be looking at about 60% of their prices.8 months ago
Ring up someone else who is already doing it (yellow pages) and tell them you need a video made, describe what your friends want you to do and get a quote.
Then work out how long it will take you to make the video and divide the quote by the hours and then you have an hourly rate. Make a commercial decision about what your rate should be compared to your opposition.