What to charge for large commercial properties

[SkyFrog]

I am just getting my business started, and need some guidance. I just had an incredibly successful initial meeting with a very large commercial real estate firm, and they have tons of large acreage and shopping centers, and new developments they need aerials of immediately. They pretty much asked me how much work do I want...

He mentioned that their last guy was charging $500-$600 per property, and they felt that was too much. I would tend to agree.

How do you guys do pricing? How do you estimate time and effort involved in a shoot? Do you have an ala carte system for things like still shots, video per minute, etc?

Any guidance would be very appreciated!

 

[Racer888]

We charge our realtors 100.00 for photos, usually around 20 to 30. Then we charge 150.00 for a 2 minute video edited with music, and I will give them a break at 200.00 if we do both at the same visit to the property, which is within no more than 45-60 minute distance. Now keep in mind I am usually on site for less than 2 hours and I can edit and produce a video in about an hour. You need to consider how long you will be on site and if you can get it done with one visit, if I have to go back I charge them for another shoot.
check my site and you will get an idea of the videos and some of the pictures we supply:
flybystudios8.com

 

[SkyFrog]

Thanks Racer! That helps a lot.

 

[BigAl07]

First off you never want anyone else to price YOUR product/services.

Large Acreage/Shopping Centers are big $$. We've done several and I can tell you $500/$600 is not "Too Much". When you factor the scope of the job, the risks involved, the amount of time processing etc you'll probably lose money if you go under those prices.

 

[SkyFrog]

That's cool you're in western nc- I'm in southeastern nc in Wilmington.

 

[SkyFrog]

First off you never want anyone else to price YOUR product/services.

Large Acreage/Shopping Centers are big $$. We've done several and I can tell you $500/$600 is not "Too Much". When you factor the scope of the job, the risks involved, the amount of time processing etc you'll probably lose money if you go under those prices.

Thanks for the reply. I'm not so much looking for others to price my services, but hoping rather to get some ballpark ideas of where others are at. I need some sort of starting point, and I want to know I'm not out in left field.

 

[Racer888]

It doesn't matter if other people think the 500-600 price is not to much, if the client thinks it is that is what matters. They are obviously shopping for a new photographer and without any portfolio or real experience you need to get your foot in the door and the only way will be to give them a good price. Work with them for a while and if you are not making what you think you should then you can sit down and you will have the information and data to have a "real" conversation about adjusting price. If you are doing a good job and giving them great photos and videos they will negotiate.

 

[BigAl07]

Thanks for the reply. I'm not so much looking for others to price my services, but hoping rather to get some ballpark ideas of where others are at. I need some sort of starting point, and I want to know I'm not out in left field.

Do you have any competition in your area? If not find out what Manned Aircraft Aerial Photographers are charging and you can help find a spot that way.

It doesn't matter if other people think the 500-600 price is not to much, if the client thinks it is that is what matters. They are obviously shopping for a new photographer and without any portfolio or real experience you need to get your foot in the door and the only way will be to give them a good price. Work with them for a while and if you are not making what you think you should then you can sit down and you will have the information and data to have a "real" conversation about adjusting price. If you are doing a good job and giving them great photos and videos they will negotiate.

While there is no hard & fast one fits all business model especially for Aerial Photography I can tell you this... it's VERY difficult to raise prices once you've set your precedent. Clients don't usually understand/appreciate "we were doing it to create a portfolio". Start off with low prices and 9 times out of 10 you're stuck in Low Price mode with that client. Adjusting annually for cost of living etc is one thing (it's usually only a few dollars etc) while getting out of the "I'm building my portfolio" ditch is a whole other story.

If you're really going to do this and do it as a business you need to take the time, effort, and expense to create a fully detailed Business Plan. Once the plan is complete you'll know your pricing, your market, your competition and be able to hit the ground running. When we built our business plan we learned so much about our business that we changed our business model because we saw different potentials and hurdles that we had missed early on. We changed the model before we had even started the business which was a HUGE money saver from the get go.

In terms of pricing... this isn't always the case but it's a good "golden rule" to try and do business by,

"When in business, if you ever give your goods away (aka drop your pants) you'll find it hard to overcome that stigma and forever will be the cheapest guy on the block. Remember, the cheapest guy on the block is often the poorest guy on the block".

YMMV but good luck

 

[SkyFrog]

All great points. You've given me much to consider. Thanks