How can you price and contract architectural photography during a recession?

1 Know your costs

Before you set your rates, you need to know how much it costs you to run your business and produce quality work. This includes your equipment, software, travel, insurance, taxes, marketing, and other overheads. You also need to factor in your time, skills, and experience. A simple way to calculate your costs is to use a spreadsheet or an online tool like the NPPA calculator. This will help you determine your break-even point and your desired profit margin.

2 Research your market

Once you have a clear idea of your costs, you need to research your market and see what other architectural photographers are charging and what clients are willing to pay. You can do this by browsing online portfolios, checking industry publications, joining professional associations, and networking with peers and potential customers. You want to find out the average rates, the scope of work, the deliverables, and the terms and conditions for different types of projects and clients. This will help you position yourself competitively and realistically.

3 Offer value and flexibility

In a recession, clients are looking for ways to save money and get the most out of their investments. You can appeal to them by offering value and flexibility in your pricing and contracts. For example, you can offer discounts for bulk or repeat bookings, add-ons for extra services or features, or payment plans for larger projects. You can also adjust your rates according to the complexity, duration, and location of the assignment, and the usage rights and licensing of the images. You should always communicate your value proposition clearly and confidently, and show how your work can benefit the client's goals and needs.

4 Protect yourself legally

Another important aspect of pricing and contracting architectural photography is to protect yourself legally and professionally. You should always have a written agreement with your client that outlines the scope, deliverables, fees, deadlines, revisions, cancellation policies, and liability issues of the project. You should also have a clear copyright notice and license agreement that specifies how the client can use, modify, distribute, or sell your images, and for how long. You should also have a portfolio release form that allows you to use the images for your own marketing and promotion.

5 Adapt and innovate

Finally, you should be prepared to adapt and innovate in a recession, as the architectural photography market can change rapidly and unpredictably. You should keep an eye on the trends, opportunities, and challenges in the industry, and update your skills, equipment, and portfolio accordingly. You should also diversify your income streams by offering other related services, such as virtual tours, drone photography, or video production. You should also explore new niches, markets, and platforms where you can showcase your work and reach new clients.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?