Chapter Flashcards
For pricing purposes, what are the two main sources of photography income for the independent photographer working for publication?
Assignment photography and stock photography
What is assignment photography?
New photography commissioned and paid for by a client. The photographer is selling their ability to create a photograph, as well as granting the client the rights to reproduce the photo for a very specific usage and time period.
What is stock photography?
Stock photography is licensing the rights to use an already existing photograph.
What is a copyright
A copyright is the legal right of the owner of intellectual property. It is the exclusive legal right to reproduce, sell, or distribute the matter of form of something or to authorize someone else to do so.
How do you make the copyright symbol?
On a PC, Ctrl+Alt+C or ALT+0169
What is Overhead?
Overhead is the costs you have to account for (even if you never take any photographs) like the cost of photographic equipment, studio rental, insurance, salaries, profit, etc.)
What are value factors?
Value factors are components affecting your creative fee that include the market where the photos will appear, usage rights or how the client intends to use the images, and various photographic elements like special skill or creativity, special risks or hazards, and so on.
What is the creative fee?
It is the basic fee that must be charged. For any assignment, it can be formulated as : annual overhead total divided by the number of assignment days you expect in a year, multiplied by the number of days in the assignment you are pricing, and added to the expenses associated with various usage or value factors.
Creative Fee = Annual Overhead / Annual Photography Days x Assignment Days + Value Factors
What are noncreative fees?
These are charges for your time working on an assignment that are not generally thought to be creative acts of photography. These fees can include travel time, casting, postponement, cancellation, pre and postproduction, reshoot fees, weather delays.
What are expenses?
These are the costs you incur doing an assignment. Such costs are directly related to the assignment and are billed to the client. Assignment expenses do not include any of your overhead, because those costs are already incorporated into your creative fee. Some expense categories include casting, crew, digital lab or digital tech for processing images, insurance, location, messengers/shipping, props, rentals, sets, studio, talent, transportation (local), travel, and wardrobe. Reimbursable expenses are generally those items that are disposable or consumable, as opposed to items that are not consumed, like cameras, lighting equipment, and so on.
What are miscellaneous charges?
Assignment prices may include a number of other miscellaneous charges. Expense markups are small percentages added to the amount you have spent on expenses. Adding this charge will compensate you for the client’s use of your money until you are paid.
What are reuse fees?
Reuse fees are compensation for a client’s later, additional use of your assignment photographs. This is a fee that is seldom charged along with your assignment invoicing.
How do you calculate daily overhead?
Divide your annual overhead total by the number of days the business is open per year.
What are the goal and measure of a successful negotiation?
Clarity, a fair price, and a return client. The ideal is that both you and your client are happy with the outcome of the negotiation.
What are the 6 steps in a negotiation, in order?
Establishing rapport, Gathering Information, Educating the Client, Quoting the Price, Closing the Deal, Following Up
