When looking at charging for owned equipment/gear, how do you determine how much to charge for that? This past year I looked up how much my kit would be to rent and discounted that by 10% to encourage the client to just pay me for my gear instead of using that budget on rentals. Money in my pocket instead of the rental house. However, is there a better method? Am I shorting myself and missing out on more money here? I want to add to my kit in 2023 and make those investment, but to do that I need to be able to look at my time to break even and when I'll get an ROI on the new gear. For example, say I spend $10k on a new camera package, how would you determine what the cost is to the client per project for that level of kit?
I'm a patient video watcher, and I'm half way through, just a friendly suggestion, you could use some text during your key points to improve the audience's attention. I've done long videos with no text and it takes a lot of focus and the attention span from a previous era to be able to stay engaged.
Ive really tried to be unique in this aspect of my company... i feel like my model is a selling point but what do you think ross.... I find every videographer kind of follows the same structure... ive tried to simplify it for the clients sake. Instead of dayrates or hourly or project based... i offer fixed pricing for one time video projects, and i only plan projects that can be done with the equipment we already have in house... this means no rentals, and low fixed prices for a reels batch, or cinematic commercial, brand overview video or mini doc etc... and then fixed monthly rates for bundles of a months worth of video with no commitment. You buy a bundle and get a set amount of video structured week by week. No rentals on equipment, and low fixed rates taking the budgeting out of the equation for clients who dont know what to spend... the rates are low enough to be eye catching and the price u see is what u pay, no extra fees for rentals etc
Nice breakdown of each costing method. Mine is pretty similar to yours, Full Day/Half Day rates for filming and editing plus travel costs and any equipment hire with a percentage markup where necessary. My only question would be what are your recommendations when you have a yearly subscription to a music library? I've been able to absorb the costs through getting paid for the work I do but I wonder if it would make sense/is it possible to charge clients a percentage of the yearly subscription rather than cost per track/licence?
I don't think it would be possible to charge clients a percentage of the yearly music library subscription. Unless you know exactly how many clients you will have in a given year?
If you're not charging based on value that you provide to the client, you'll be losing many bids simply because high-earning clients expect you to be within a certain budget. If you're way below that, this signals to them that you're probably not a good fit for the project.
@@samanshp Thats true. As I see it, large companies should be charged value based. The difficult thing I see in this is asking them questions on their supposed profit and expecting them to answer it. For example they might not want to disclose such information. I feel its almost impossible to get the price right and not cut yourself short for such projects. Only way i can imagine pricing this way is if I knew someone who takes big budget projects and gives me a starting point on what to ask for.
@@quickpickle In my opinion, value based pricing doesn't require you to know exactly how much money they'll generate from your video. Because not every video that you create is intended to sell something. What if it's a brand awareness type of video? In short, value based means how much the company believes your video is valuable to their brand. It's very rare that someone sees a Toyota ad and drives to the dealership to buy a Toyota. Does that mean the creator of that ad wasn't successful in bringing value to Toyota? Of course not.
@@samanshp So basically the only question which needs to be asked is: what is your budget for this? Because I dont think they would have an idea of the value it would be bring to them in terms of a video production companies costs.
@@quickpickle Exactly. That's why all major artists have a rep such agents have a much better idea of what to charge from larger organizations since they know their internal politics and etc. Until we get to that level as smaller video production companies, our best bet is to see what others are charging and replicate our pricing based on that. I went from charging 300 for an event video to $2500-4000 simply by understanding this that you should be charging whatever the client is willing to pay based on their predetermined expectations for a gig like this.
![ทุกครั้งที่หลับตา (Lucid Dream) - AYLA's [ Official MV ]](http://i.ytimg.com/vi/4i1OBAQyv58/mqdefault.jpg)
Would be nice to see an actual invoice from your business and what you provided for that amount. Thanks
Ross great vid but gotta slow those cuts on the edit, hard to watch, also I think its because theyre too similar of an angle/focal length
Thanks for the tip 🙌
Amazing video Ross I'm fairly new to video editing and starting to get clients. this helped massively
Thank you for taking the time to comment, I am so glad that these videos are of use to you.
How are you getting on with video editing?
When looking at charging for owned equipment/gear, how do you determine how much to charge for that? This past year I looked up how much my kit would be to rent and discounted that by 10% to encourage the client to just pay me for my gear instead of using that budget on rentals. Money in my pocket instead of the rental house. However, is there a better method? Am I shorting myself and missing out on more money here? I want to add to my kit in 2023 and make those investment, but to do that I need to be able to look at my time to break even and when I'll get an ROI on the new gear. For example, say I spend $10k on a new camera package, how would you determine what the cost is to the client per project for that level of kit?
I would love to see an answer to that. Great question 💪
I'm a patient video watcher, and I'm half way through, just a friendly suggestion, you could use some text during your key points to improve the audience's attention. I've done long videos with no text and it takes a lot of focus and the attention span from a previous era to be able to stay engaged.
Thank you so much for your feedback, this is something we will be introducing to our future videos. 😊
Ive really tried to be unique in this aspect of my company... i feel like my model is a selling point but what do you think ross.... I find every videographer kind of follows the same structure... ive tried to simplify it for the clients sake. Instead of dayrates or hourly or project based... i offer fixed pricing for one time video projects, and i only plan projects that can be done with the equipment we already have in house... this means no rentals, and low fixed prices for a reels batch, or cinematic commercial, brand overview video or mini doc etc... and then fixed monthly rates for bundles of a months worth of video with no commitment. You buy a bundle and get a set amount of video structured week by week. No rentals on equipment, and low fixed rates taking the budgeting out of the equation for clients who dont know what to spend... the rates are low enough to be eye catching and the price u see is what u pay, no extra fees for rentals etc
Nice breakdown of each costing method. Mine is pretty similar to yours, Full Day/Half Day rates for filming and editing plus travel costs and any equipment hire with a percentage markup where necessary. My only question would be what are your recommendations when you have a yearly subscription to a music library? I've been able to absorb the costs through getting paid for the work I do but I wonder if it would make sense/is it possible to charge clients a percentage of the yearly subscription rather than cost per track/licence?
I don't think it would be possible to charge clients a percentage of the yearly music library subscription. Unless you know exactly how many clients you will have in a given year?
what is the site for invoce?
So helpful. Thank you!
What value does the problem you want to solve, have? nice!
Perceived value is a tricky thing because its like saying.. hey im greedy and i want a cut into what ur gonna be making.
If you're not charging based on value that you provide to the client, you'll be losing many bids simply because high-earning clients expect you to be within a certain budget. If you're way below that, this signals to them that you're probably not a good fit for the project.
@@samanshp Thats true. As I see it, large companies should be charged value based. The difficult thing I see in this is asking them questions on their supposed profit and expecting them to answer it. For example they might not want to disclose such information. I feel its almost impossible to get the price right and not cut yourself short for such projects. Only way i can imagine pricing this way is if I knew someone who takes big budget projects and gives me a starting point on what to ask for.
@@quickpickle In my opinion, value based pricing doesn't require you to know exactly how much money they'll generate from your video. Because not every video that you create is intended to sell something. What if it's a brand awareness type of video? In short, value based means how much the company believes your video is valuable to their brand. It's very rare that someone sees a Toyota ad and drives to the dealership to buy a Toyota. Does that mean the creator of that ad wasn't successful in bringing value to Toyota? Of course not.
@@samanshp So basically the only question which needs to be asked is: what is your budget for this? Because I dont think they would have an idea of the value it would be bring to them in terms of a video production companies costs.
@@quickpickle Exactly. That's why all major artists have a rep such agents have a much better idea of what to charge from larger organizations since they know their internal politics and etc. Until we get to that level as smaller video production companies, our best bet is to see what others are charging and replicate our pricing based on that. I went from charging 300 for an event video to $2500-4000 simply by understanding this that you should be charging whatever the client is willing to pay based on their predetermined expectations for a gig like this.
WORST "HOW TO PRICE" VIDEO EVER.
SORRY YOU DISSAGREE 😉 maybe you could provide some value instead and give some advice on how you approach video pricing?
Well can you tell us how you price out your video services?