I'm looking at fees and, in the current climate, I'd like to review what I'm charging.
My problem is not so much what to charge on a daily rate, but what to charge for 1/2 day, 1/4 and post production based on this rate.
Needless to say, I've had various rates that have served me well over the years, but I'd like to draw up new (slightly lower) fees, and be more scientific in how they're calculated.
Here's my approach to date based on some research and asking some questions.
1. 52 weeks in the year.
2. 48 working weeks. That's what I want. Others may differ.
3. Only 3 shooting days per week. The other 2 days for editing and running the business.
4. So, 3 (shooting/billing days) x 48 weeks = 144 shooting/billing days per year. Again, others may differ on this.
I know what gross fee I'd be happy with in a given year. So, dividing this by 144 gives me a daily rate.
My problem arises when I try to subdivide this into 1/2 day and 1/4 day.
a. Should I have an set-up cost that is a constant in all three rates - full day, 1/2 day and 1/4 day - and add a 2 hour, 4 hour and 7/8 hour shooting rate to this? This rates would, presumably, be multiples of an hourly rate.
b. Should I simply halve and quarter the day rate to arrive at the 1/2 and 1/4 day fee?
c. Is there a thrid way? No doubt there is.......!
I've always had a minimum charge of a 1/4. So, an hourly rate is only relevant in calculating overall cost.
Finally, is your post production/editing cost the same as your shooting cost?
I'd be grateful for any feedback.