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00:00:01
Should You Go All-Inclusive or Sales-Based? Let’s Break It Down
103 Plays12 days ago
Episode Summary:
Are you stuck between choosing an all-inclusive pricing model or a sales-based package structure for your photography business? In this episode, I walk you through how to figure out what works best for you no industry pressure, no “right” way. Just profitability, practicality, and sustainability. Let’s dive into how to align your pricing with your time, goals, and the clients you truly want to serve.
What You’ll Learn in This Episode:
- Why profitability isn’t about your pricing style it’s about how much you’re actually making per hour
- The real cost of time in both all-inclusive and sales-based models
- How to choose a pricing model based on your lifestyle, business structure, and client experience
Links & Resources:
📄 Download the Simple Pricing Calculator Worksheet
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Transcript
Introduction to Pricing Models
00:00:01
Speaker
Hey, hey, empowered listeners. I want to talk today about something that we'll probably talk about a lot over the course of many episodes because it is such a debate that's a hot topic in our industry.
00:00:13
Speaker
And I want to just ask you, are you trying to decide between all-inclusive pricing or a packaged sales-based pricing model?
Choosing the Right Pricing Model
00:00:22
Speaker
I'm going to tell you how to easily figure out what will work best for your business.
00:00:28
Speaker
So any educator is going to tell you that the way that they are doing things is, and I'm putting this in air quotes, the right way, especially if they are selling you a particular method. So if they have a pricing method that they want you to buy or a class on pricing, they're going to tell you that the way that they're doing it is the right way.
00:00:46
Speaker
Now, you'll learn quickly. I'm not that person. I'm not going to tell you that the way that I'm doing it is the correct way. When I educate and coach my mastermind students on pricing, I help them figure out a pricing model that is right for them.
00:00:59
Speaker
Because the truth is, there is not just one way to do it. And it all boils down to how you price yourself all boils down to a few simple concepts.
Personal Profitability and Client Time
00:01:09
Speaker
So hear me right now, hear this and listen to me and take it to heart.
00:01:13
Speaker
The most important thing is that you price yourself so that you are profitable. If you are going to the internet and pricing yourself based on how someone else is telling you to do it, how someone else is pricing their business, you are pricing yourself based on someone else's needs and profitability.
00:01:29
Speaker
Only you know what you need to make in order to be profitable. And it's super important to know how much time you are spending on each client in order to figure that out. So for example, if you're telling me that you're making $3,000 per session, amazing. I'm going to be so proud of you.
Session Fees and Net Income
00:01:46
Speaker
But if the next thing that you tell me is that you're spending hours upon hours upon hours on consulting, ordering, spending money on products, spending time on product ordering, spending time delivering and packaging those products,
00:01:59
Speaker
You're not making $3,000. A lot of times when people tell me they're making this and they're only making it once a month, I'm like, oh, I only have to work and do one session per month. And then we break it down and they are making less than minimum wage.
00:02:12
Speaker
That's a problem. Time is your most valuable currency. If that's all you remember from this episode, please take it to
Aligning Pricing with Business Needs
00:02:20
Speaker
heart. You cannot get your time back. You can always make more money. You cannot make more time.
00:02:25
Speaker
You have to know how much time you are actually spending on each session. The next thing is that you have to decide if your pricing model fits your business model and the needs of your ideal client.
00:02:37
Speaker
Your pricing is a very important and large part of the overall client experience that you are going to provide. So generally speaking, and after 14 years of being in business and 12 years of being an educator and knowing lots of other photographers who are successful and have had long-term success, having analyzed and coached hundreds of photographers' businesses, having worked with other photographers on educational content, having...
00:03:03
Speaker
spoke with other top photographers in our industry, photographers start being truly profitable when they are making about a minimum of $1,000 per session, if that's their minimum average, no matter where in the whole wide world they are.
00:03:16
Speaker
So why I'm saying no matter where in the world you are is that people will say, well, my area of the country does not command $1,000 pricing. Well, if you were selling luxury shoes, for example, if you were a um name brand shoe company, your shoe would cost the same in the Midwest as it would cost on the coast.
Calculating Minimum Income for Profitability
00:03:34
Speaker
So no matter where you are in the world, you can get to that place of profitability. But again, you need to know your numbers and you and math, you need to have a little meeting and figure these things out.
00:03:45
Speaker
Profitability has nothing to do with if you are all inclusive or if you have fancy packages or if you're selling things. It has everything to do with how much you're making at a minimum at each session and then breaking that down per hour.
00:04:00
Speaker
I'm going help you figure this out. I have a super simple, and it's like so simple, but it's because that's what this is. This is just a math problem. I have a super simple pricing worksheet that I will include in this episode um underneath this recording that you can work through. And I just want you to remember that just because you're all inclusive or just because I'm all inclusive doesn't mean you should be.
00:04:20
Speaker
And just because someone else is doing packages and sales base doesn't mean you should You should. be you have to figure out what's profitable for you.
Finding Your Path to Success
00:04:27
Speaker
That's what matters to me. I am never going to be the teacher that tells you that you need to be like me in order to be successful.
00:04:32
Speaker
I want you to figure things out for yourself. That's how you're going have the most long-term success.