I am going to start off the Sales Room series with showing you MY price sheet and explain why I do what I do!
My seniors spend (or should I say INVEST) $1700 on average and my families “invest” about $2500. I use the SAME price list for both! I do not have separate price lists. I have the occasional $800 order but I also have the occasional $3800.
I know guys who have had $12,000 portrait sessions SO in NO way do I think “I have arrived”. I am improving my shooting every week and refining my business. I hope to get only better! I demand it from myself and my clients expect it.
When I first started photography, I TRULY thought, “if I could manage to get $300 per client and do two sessions a day; I would be set!”. I had NO clue people “invest” $1000+ on “family pictures” and $10,000+ on weddings (wait til you see how I price weddings).
I did not REALLY realize that what we deliver IS MORE than “pictures”. Now that I understand that and FEEL that and MY clients FEEL that, my averages just keep going up and up. Who knew!
I want to add $1000+ to my averages! So, come grow with me!
In future episodes, I will show you exactly how I run a sales session (although, I do not call it a “sales session”, I call it a “slideshow where you will get to see all your pictures and place your order” session.) Heck, I will even share with you some of the exact orders. From bad orders to great orders! I have nothing to hide.
1. Watch the videos below.
2. Download my portrait price list for your reference.
MY PRICE LIST: DOWNLOAD
PS: This is what I am doing & have been doing BUT its not to say that I won’t change things up a bit BUT if I do, you will be the first to know about it! You will get to grow with me!
Have any questions? Please leave a comment below.
Leave A Reply (38 comments so far)
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Amber Rakowski
1579 days ago
So where do you get the albums from? when they order this does it come with the photos? What is a good way to figure out pricing? what do you base it off of? THANKS
sorry for being a pain.
admin
1578 days ago
Amber,
No pain at all.
I want to stay UNDER 20% Cost of Goods Sold (I see another video coming!).
If they don’t order an album or canvases, my COGS can be under 10% easily. But, the number I care more about than anything is my net profit in DOLLARS not percentage.
I want at LEAST a $1200 sale per client. That would mean a $960 dollar profit [($1200 * .80)=$960] assuming a 20% COGS. I am comfortable with that number. I am sure there are folks who do a lot better and I want to get that better too!
With this first tutorial, I just wanted to show you my price list to get started and show how its structured with the bonus levels.
8X10 slip in album is from Albums Inc.
Search “SI-BS0810-10BB” to find it.
Example:
$850 Price of Alum
- $117 cost of album (engraving + shipping included)
- $40 cost of 8X10s
————————
$693 Profit = 18% cost of goods sold
$1150 30 Image Album
- $132
- $60
————-
$958 = 17% cost of goods sold
I tell my client “once I back out the actual cost of the album, the price is $36 an 8X10 and with the 30 image album each 8X10 is $34.”
So, the album is like a “package type of deal”. You buy more, it gets cheaper.
The problem I was having early on was the fact they wanted so many different pictures, they didn’t have anything to do with them. So I searched and searched for a QUALITY album and finally found one. Now, they have something to do with all the prints.
I don’t really mark up the album. I am happy with a $700 – $950 profit PLUS I know they are going to get a wall portrait, wallets, and hopefully a collage or two.
The KEY is to have enough GREAT pictures that they want 20-30 pictures and have a bonus structure that REALLY encourages them to get the larger album. Makes sense?
My custom album is $1750 and my COGS on it is roughly $320. So, that’s a $1430 profit (18% COGS) BUT I do have to spend a few hour designing it. I wanted about $600 for the design work. That’s how I can up with that price. PLUS, with the custom album, they will get about 45 different images and its truly a WOW product. 10X10 Vision Art Album. I LOVE Vision Art!
I do not offer a cheaper custom album but I have/will consider it.
All thee of my albums are roughly 18% COGS but I want to sell the Custom Album with a $1430 profit.
How do I encourage the larger album sale? I will go over that in more detail when I go through my sales presentation in another video.
Thanks,
George Dean
Kami Voiles
1578 days ago
I *love* the bonus levels. I have only done one bonus for orders over $600, but I love how you do them at different price points so they keep wanting to spend more. I think I’m about to go mess with my pricing structure and come up with some bonuses of my own! Thanks!
Nicole Hate
1572 days ago
I love the simplicity of your pricing list. Customers are too confused with my current pricing and I’m working on changing how I do things. This is a great example for me to grasp the concept.
Do you offer the same products and prices for weddings too?
George
1572 days ago
@Nicole Hate:
I will go over my wedding prices another time b/c its pretty different than what most people are doing. I will tell you engagement & bridal sessions are regular studio prices!
SIMPLE SIMPLE SIMPLE… I want them to make as few of decisions as possible. You can only make so many before your head starts to explode!
A confused mind can not make a decision. If forced, it will make the cheaper choice!
Go SIMPLE.
George
Nicole Hate
1572 days ago
One more George, what program are you using for slideshows?
I use Proshow Gold and Animoto, just curious. Thanks!
George
1572 days ago
@Nicole Hate:
In the sales room?
Just the generic proselect one. Nothing fancy.
George
Nicole Hate
1572 days ago
How could I have forgotten you use projection! Geesh, bad on my part.
Renee Churchill
1565 days ago
I have a question about the 5×10 desk collage. I understand that you have them mounted on styrene, but do you frame them or just give them to your clients unframed? I really like the idea of the desk collage, but 5×10 is not a normal frame size.
George
1564 days ago
@Renee Churchill:
I have about 10 sample 5X10s sitting in on a little easel from Hobby Lobby. Makes for a very classy little display.
I have thought about getting like 5 different frames but have not.
George
KIM MITCHELL
1563 days ago
Where do you get your frames?
George
1563 days ago
@KIM MITCHELL:
framesforportraits.com
Tell them to EXTRA bubble wrap them!
GEorge
Renee Churchill
1549 days ago
Where do you order your “Widescreen” wallets from?
George
1549 days ago
@Renee Churchill:
WHCC. its a press printed product. “Rep Cards” I think is what its called.
Sells like hotcakes.
George
Renee Churchill
1549 days ago
Thanks! You print both sides right? Do you put their name, school and grad year?
George
1549 days ago
@Renee Churchill:
I generally put their name and sometimes year and always my logo.
I ask them what they want.
I USUALLY put a pic on the front and 1-3 on the back depending on the images.
George
Luke Potter
1525 days ago
some great information here. With your album. All the windows are 8×10 vertical what if you have a great horizontal shot?
George
1525 days ago
@Luke Potter:
Slides in still. just turn the book to look at it.
Luke Potter
1524 days ago
Thats what I figured, some clients get weird about stuff like that, didn’t know if you had people complain, thanks!
KIM MITCHELL
1524 days ago
Where do you get your albums?
George
1524 days ago
@KIM MITCHELL:
Vision Art.. they totally rock
Luke
1522 days ago
Is the first time that people see the photos when they come in to order? If so do then guide them in helping choose the photos that are best?
Amber Rakowski
1521 days ago
k george i have another quick question for ya. I was looking over this agian since my studio will be open next month. YIKES!!! the books that you use for the 3×3 and 4×5 gift books, where do you get them? i have been looking through my catalog form albums inc but the ones that i have found i gues are no longer avail. what do you use for your “image book” that you offer w. your 30 image book? o ya and one more thing, where do you print your 5×10 desk calander that they are hard backed? Thanks and sorry for all the questions.
Amber
George
1520 days ago
@Amber Rakowski:
3×3 AND 4×5 from jlee albums
image book is simple a proof book from WHCC spiral bound.
5X10 hard back is a WHCC product too. I have it mounted on styrene.
George
George
1520 days ago
@Luke:
Yes. This is the first time.
I did a video on preselling. Thats key to helping lead the product selection.
George
Luke
1501 days ago
I just wanted to say thank you. I used to guide sales through packages. Today I did an order session using this method. Same prices even except for the wall portrait gallery wraps I dropped it $100 from your prices. However I kept the 3 8×10 gallery wraps at $500. I ended up selling a 16×24 wall and a set of 3 8×10 gallery wraps as well as other 5×7′s and 8×10′s for a total sale of $1200. I haven’t done this with seniors yet as I’m still rounding the final ones up for the year. I feel that overall I’m pretty good at sales it was nice selling with this method as there’s really no “cap” and its easier to inspire them to buy the specialty products. This was a kid’s shoot which I usually expect to sell around $400~$600 on but this method doubled it.
Julee Brideson
1487 days ago
George – I can’t seem to get the video’s to work. Is there an issue with the link?
George
1487 days ago
@Julee Brideson:
They work on my machine. No one else has reported issues. Maybe try and reboot.
George
Michelle Prince
1316 days ago
ok so compared to yours my price list is way too long and maybe confuses my customers. must make it shorter. also which program do you use for the dvd slideshows you sell clients? i used to do that but found that the slideshows had glitches. if they think they can print from that slideshow would that not keep them from upgrading to another package?
George
1314 days ago
@Michelle Prince:
I use “MemoriesonTV”. I’m sure its not the best but it works for me. I don’t sell mine, its a gift at $1000 order. It has not hindered my sales b/c clients “think that”. If they mention it, I let them know they CAN’T print from it.
George
Vicki Derks
1120 days ago
Hi George, what is the Senior Mini album? Also on the 2 fer collages pricing is that same or different designs for that price?
Thanks,
Vicki
George
1119 days ago
@Vicki Derks:
Same collage. Be sure to catch the update to this at http://www.myphotographybusiness.com/archives/2315
Not sure what you are referencing a mini album… maybe its the “flip book” I have printed at WHCC.
George
Jared Hernandez
1104 days ago
this may be a silly question but regarding the bonus levels, let’s say that they spend over $2,000 does that mean they get whatever is in that bonus level and whatever is in the previous bonus levels as well? just making sure I understood what you do
George
1102 days ago
@Jared Hernandez:
That is correct!
George
Kim T Ortiz
593 days ago
I love this video and your pricing structure and products offered. Very simple. Why do you call Rep cards widescreen wallets?
George
591 days ago
Kim T Ortiz »
B/c its cooler sounding.
Kim T Ortiz
589 days ago
I am going to add that to my product offering. I use them all the time for senior reps. So you actually put your logo on it? They don’t mind having your logo on their widescreen wallets? Is your logo just your name?
George
571 days ago
Kim T Ortiz »
No name. No logo.