Video Production Prices In Tampa
As videographers, how do you determine how much to charge?
If you have a studio, you have overhead expenses. Let's say for argument sake your monthly expenses are $10,000 before you pay anyone. Just your basic insurance, studio lease, electric and other utilities.
How much do you charge to use the studio?
Common sense will tell you, $10,0000 divided by 30 days in a month would be around $335 per day.
So to cover your expenses, you would have to charge $335 for that day of using your studio. Except that, you will never rent the studio every day of the month. You might however, rent it for 10 days a month and that means you would have to charge $1000/day to cover expenses.
But people wont pay $1000, it is too much.
But you are paying $10,000 a month, so somebody must be willing to pay for one day in stead of spending $10,000 for an entire month. So why are you trying to sell your studio space so cheap?
It really comes down to supply and demand, or does it?
If you cannot get the money you need to stay in business, you need to either close the video production business or find new customers. Find people willing to pay $1000/day.
How?
That is the million dollar question! How and where do I find customers?
You started a business, why? Because you like to do it? Or because there is a need for it?
If it is just a hobby, well, accept that and move on to living in your mom's basement.
If it is a business, then you should already know where the market is.
You will need to be aggressive to compete, you will need to shake the trees, not just wait for customers.
You know your business, nobody else.
Identify who needs your service, then create a plan to reach them with your message.
It could be as simple as an email, more subtle like a snail mail or over the top with a massive flash mob. Whatever your marketing plan is, make sure you have one before you sign an expensive lease or loan on your dream studio.
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