There's a story about an engineer who was forced to retire early. He
was called back as a consultant to advise the company about a problem
with a malfunctioning compressor. After he looked at the problem, he
took a piece of chalk and made an X on the errant part of the
machine. Fix this he said. Subsequently, he sent a consulting bill
of $50,000.10 to the company. Queried about the strange amount, he
said, "It's 10 cents for the chalk and $50,000 for knowing where to
place the mark." So, it depends!
But much of Emily's list (Not the famous "Emily's List", a movement
of Democratic women in the US committed to promoting the election of
women to political office.) requires amortization, and the assistance
of a one-armed economist to figure it out!
Roger
On 22 Dec 2007, at 8:17 PM, Emily L. Ferguson wrote:
A hundred pounds a day - lessee. That's 50 bucks a day.
Don't think so. More like $100 bucks an hour for weddings where I
live. And that's per person. Most weddings are done with a photog
and a couple assistants who are at least $350 a day. And that's an
8 hour day.
So let's see how that plays out:
Equipment:
camera bodies, at least 2 required $1300 to $2400 each - $2000
average each camera
lenses, at least 2 required $600 to $900 each - $1500 each camera
flashes - $150 each, need three or four for portrait shots, along
with light stands etc.
Memory cards, at least 8 Gigs required for a wedding $350 each camera
Total: $5500 ever couple years
Computer, possibly 2 if assistant is regular worker, $2000 (incl
monitor, keyboard etc)
External drives for computer $200/500Gig, maybe one per computer
misc computer stuff - $300 for tablet, DVDS, cheap printer - each
computer
Computer application license - Photoshop costs $675, need Office
and Quickbooks too
Total: around $8000 for two computers
Equipment insurance: ???
Auto expenses:
car insurance, depending on jurisdiction, around $900/year
car maintenance, depending on age of car, around $1200/year but
don't need tires, or brakes, or suspension
Gasoline, depending on mileage, about $35/week
Total: around $4000/year for cheap, efficient car. Don't get a truck.
Car - $12,000 on the cheap. Every 4 years or so.
Business Education - conferences, weekends and weeklong - $2000/year
Rent on living space - around here it's $1300/month for 3 bedroom
house
or Mortgage for same - around $800/month
Health Insurance - ha, ha, ha - $550/month with $1000 deductible
House maintenance - $4000/year
Home insurance - $800 on $300K house
Real estate Taxes - depending on valuation of living space - $1700/
year on $300K house
Utilities - around $3000yr if you don't have a cell phone, and what
wedding photog can be in business without a cell phone.
Fed and State Taxes on net income: $30-40% maybe $2500/yr.
Retirement savings????
Married? Have kids?
Savings for children's education???
savings for when you don't have any work???
Food - haven't figured that in yet. bare minimum $100/week.
So:
$50 bucks a day every day of the year = $18,000/year.
That's assuming you have work every day of the year and never get
sick or have to take time off.
Your rent alone is more than half that. Your food is $5200/year.
That's $14,000.
Hmm.
--
Emily L. Ferguson
mailto:elf@xxxxxxxxxxxxxxxxxx
508-563-6822
New England landscapes, wooden boats and races
http://www.landsedgephoto.com
http://e-and-s.instaproofs.com/
