One way freelance professionals can determine a rate to charge is to look at all the costs of business (rent, insurance, gas, etc.) and determine how much they need to make to stay afloat. But as Donald Giannatti, this equation is only half of what’s needed to figure out the rate.

Cost of Doing Business

CODB (Cost of Doing Business) calculations are a good idea to find out what you need to make per month to break even or make a profit. They suck at helping photographers determine their rate. Let me share why.

I do indeed think that knowing exactly how much it costs you each month/year to be in business is a sobering and very powerful base for figuring out costs.

But costs are not value.

Cost are not art related.

Costs are simply price per… hour/piece/day… and do not take into consideration the intangibles of the value of the art.

So knowing that it takes $2167 per month to break even for a photographer is good and solid information.

How one quantifies next either makes it a powerful tool or an irrelevant gimmick.

Do you then plan on 10 gigs at $216.70 to break even? Or five gigs at $432.40?

If you think that is gonna work, I can sell you a bridge that is far more lucrative.

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