What Does A Food Shoot Cost?
Do you ever get questions like that? How do you answer, “What does a food shoot cost?” When I have a potential client ask me this, I jokingly tell them “It costs about the same amount as a car.”
You can see their wheels turning as they calculate their ideas of what a car might cost. We then engage in some conversation about if they want a $30,000 luxury car or a $1,200 beater like my 17-year-old drives. Maybe it’s somewhere in between.
Out Of Pocket
The real question, and more important for us to understand is, what does a food shoot cost me? Before I can give the client a number, I need to know what my costs are. Most of the out-of-pocket costs associated with a shoot are easy to calculate (generally)…
- First assistant: $500/day
- Digital tech: $500/day
- Food stylist: $950/day
- Food stylist assistant: $450/day
- Groceries: $250
- Production assistant: $350/day
- Prop stylist: $650/day
- Catering and craft services: $500/day
- Retouching: $150/image
- etc, etc…
But what about my time? What about my value? (More on “value” in a future post.) What about my utilities? My insurance? My marketing and advertising, business license and taxes…the list of expenses goes on and on. Needless to say, there are many expenses/costs I need to be aware of, and then calculate into my estimates. But how?
I think we photographers have conveniently forgotten about all these other costs in an effort to try and compete on price. (More on “competing on price” in a future post.) These costs of doing business are substantial and are definitely part of the cost of a shoot. So, how do we account for these costs in our estimates?
Consider overhead. These are our monthly expenses we incur regardless of how many days we’re shooting (or not shooting). Overhead is monthly bills and expenses. Rent, utilities, insurance, etc.
To help me figure out how much to calculate (and charge) for these expenses, I look at the annual total and divide by the number of shoot days—either actual from previous years or a goal for the current year. Let’s say my annual overhead is $100,000 (using round numbers to avoid long division). If I figure I’m going to shoot 100 days this year, then each shoot needs to clear $1,000 to cover my overhead.
Notice I said “clear”, as in, it’s above or more than the other costs of the shoot. This is income that stays in my bank account after I pay my crew and other out-of-pocket expenses in the list above.
What about our salary? Did I say “salary?” Why yes, I did. We need to be paid. (More on paying ourself a salary in a future post.) Do we need to make $75,000 this year? Then we better make sure we’re adding $750 per day of shooting into our estimates. (I don’t have time or space to talk about “make” vs “take home” salary. We can discuss in greater detail in a future post.)
But wait, we’re not done yet. Yes, there’s more. More for us to consider. Have you thought about your investment in all your equipment? That’s a lot of money. This is not overhead. Equipment purchases are capital expenditures. You know all too well.
$3,000 for a camera body. $1,900 for a lens. $2,400 for a computer. $4,500 for lighting. You might end up with $30,000 or $55,000 invested in equipment. Then a year or two goes by and it’s time to upgrade a few things here and there. These costs are big and they come at us at different intervals, sometimes without warning.
Where does the money for all our equipment come from? These big capital expenditures need to be covered by our business’s cash reserves. But how? Imagine for a moment that we didn’t own any equipment, how would we get by?(more…)