Chance was in the bank a few weeks ago and the teller was telling her how expensive the school photographer that her childs school was. She told Chance that you could buy the same size "picture" at Walmart for $2! I keep seeing websites popping up daily that have the really low prices or they give you everything. What many of these people, on both ends of the camera, don't understand is all of the other cost that go into that portrait. I was reading on a professional photography forum a few weeks ago just part of the breakdown.
This is sort of how it works. As an example, last year I had to replace a lens that we use everyday and it cost roughly $2000. So if we spread it out over two years that is $1000 per year, or $83.33 a month. So if you do 3 sessions a month, that means the lens cost you $27.77 per session. Ok, I know we do more than 3 sessions a month but, we haven't even bought the camera or any other lenses, backgrounds or lights yet. Most people forget that after the cost of the print we still have to add in electricity, gas, water, insurance, payroll, taxes or rent. Then you have to have backup cameras, lenses and lights. Oh wait! We still have to feed ourselves too. All of that and we still haven't added in the cost of the photographs, packaging, shipping and advertising!
WOW! No wonder so many studios are closing all around the country.