Video Consulting Pricing
Just curious; what is the average pricing for video consulting?
Maybe it's best to ask, what range (ie: $xx/hr kid out of college to $yyy/hr for a video broadcast veteran).
I am currently setting up a business with all the video/lighting/editing equipment and supplies for web product videos for their web store. I am also in charge of teaching their employees how to shoot and edit in FCP. Just trying to decide how much I'm worth :P
This general question has been posted so many times before. You should do a forum search.
IMHO the base amount should cover all your life expenses based on four 20-25 paid work hours per week for a 4 week month. Anything less and you'll be homeless, hungry and selling year gear to pay off your credit cards.
Add on to that based on your skills, experience, market.
I did a search for "consulting pricing" and just "consulting", didn't find much. Maybe I should have searched for a more generalized "day/hourly rate".
I wish the forum had "stickies". A general sticky on "day and hourly rates" would be helpful for everyone, including the veterans who could just link to that single post all the time.
I really wish the creative cow could have something like stackoverflow.com
If you aren't familiar with it, it is a place for asking questions about programming.
Everything is based on a point system. If you ask a good question, people vote it up or down (you get/lose points), if you answer the question people can vote it up or down to receive more points, if your answer gets "picked" you get more points.
The more points you get, the more "abilities" you receive. Such as "selling" points to get your really tough question answered. The system basically runs itself.
It also has a better "search" than I've ever seen on a web forum. When typing out a question, it checks your question for key words and automatically searches and suggests other questions similar to yours, hugely helpful.
You can't replace a forum when it comes to discussion but when it comes to questions, especially objective questions, the stack overflow system works incredibly well and VERY fast.
Posts would generate "tag" words which would point to related posts but that doesn't seem to be happening. I can see where using one search term vs another might not yield much results.
There is the thumb up/down here and other forums also have "solution" and "kudos" buttons. I'm not sure if "competitive" posting is really needed in a professional forum other than to let others know a response is particularly worth reading. The COW seems to be undergoing a significant backend change.
The "what do I charge, pricing, rates" questions come up every couple of weeks and the answers are very consistent. It'll be hard for anyone to give dollar amounts even in a range since there are too many variables. The formulas are actually very simple.
Cost for you to live. Those are easily knowable to your specific circumstances. Look at your monthly personal expenses and you'll know what you need per month to pay for them.
Cost for your business. Equipment expenses. Loans and credit card bill must be paid. Even if paid for you KNOW you'll have to replace your gear at some point. Then there's all the other expenses related.
With the above info you KNOW how much you need for your business each month.
Hours, I use 20-25 paid hours a week as a model. That's because you're gong to be doing a lot of unpaid work as well ranging from sales, bookkeeping, maintenance, learning, marketing.
So basically you need to know if you work 80-100 paid hours a month ALL your bills will be paid both personal and business.
Of course your goal is have profit, invest in business growth, have fun in your life. The better your skills the more you can charge over your minimum. Your market influences this as well.
The BIGGEST newbie mistake is undercharging to "get experience." Word of mouth is your best or worst marketing tool and getting job recommendations that will send you into bankruptcy is simply not a business model. You'd be better of donating your skills to a non profit, showing them your "real" rate and what you've discounted it to (even if zero). They'll know your value and so will the other patrons and supporters of the non profit.
Totally agree on not expecting more than 20 hours a week of paid work on a regular basis.
Semi-related story: a close friend went in as a contractor to a company, and after she was hired the HR guy came to complain that her rate was twice what he'd pay an employee. He looked her in the eyes and said that. She looked right back and explained that she only worked on average 20-30 hours a week, AND she had to pay for her own healthcare, etc.
Web and Video Design
this is a funny question. Why don't you charge what you are worth ?
I assume that you have worked before in your lifetime. If they say "how much ! are you kidding me, we can't afford that", then you can adjust. However if you charge $2000 a day, and they say "boy, you are so cheap, you are hired, when can you start" - then you know you are in a great market.
when I left Manhattan to come to Florida, I originally asked my NY day rate - and no one hired me. I kept lowering it, until people said "ok, why don't you come in". As you get to know the market, you find out what people are willing to pay. With that said, you must understand that a wedding photographer working privately can charge MORE than a "professional editor" working on a network TV show, if their employer is a GRINDER ("you should feel lucky to even have this opportunity !").
Charge what you are worth. If you want $300 a day as a consultant (for example), and your client says "are you nuts, we were thinking closer to $100 a day", then the opinions of this user forum mean absolutely nothing anyway.
how can he charge what he is worth if he has no clients to back him up?
i do video and web consulting and charge an expensive price comparing to the "competition" but i can do that only because i can show i can do things no one else can - get bigger ROI for the client.
Business and design tutorials
[Uri Soglowek] "how can he charge what he is worth if he has no clients to back him up?"
Clients are only one determining factor. There's cost of living and there's self worth. Also one can have demo material before one has clients and the client will "perceive" worth.
[Uri Soglowek] "i do video and web consulting and charge an expensive price comparing to the "competition" but i can do that only because i can show i can do things no one else can"
Even without that one doesn't start being worth "0." One is not "worthless" even if one is just starting out and there are concrete measurable things one can ascertain to have a starting worth. At the very least one is "worth" one's living expenses since everyone is generally worthy of a roof over one's head and food on the table. Gear has worth too and one might start modestly in that category (don't overbuy).
My consulting rate is $75 an hour and I do not devulge our processes, software used or anything else that falls outside of generalities.
It's a dry heat!
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5 Final Cut (not quite PRO) systems
Sony HVR-M25 HDV deck
2-Sony EX-1 HD .
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Long ago, I decided none of my time is worth less than other times. By that, It's very easy math for me. I simply charge the same day rate for consulting as I do for shooting, producing, lighting, editing, animating, sound design, or stunt driving.
Some see consulting as canibalization. I don't. I see it as providing a service for a price... no different than anything else to me.
$75 - $150 per hr.
Owner / Director / Editor
Video Marketing Toolbox.net
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with Final Cut Studio
HP i7 Quad laptop
Adobe CS-5 Production Suite