This is how I worked out my pricing.

Monthly Business Cost List:
 Cell Phone: $59.00
 Equipment purchases: $500
 Photo gallery: $15
 Hosting: $6.99
 Marketing: $100
 Business cards: $10
Total: $693

I used one session per week as my goal because I want to be profitable but I don't want to be unrealisic and set my booking goal to high.

$693 and divide that into 4 (total sessions per month) = $173 for each session.

Time Spent List:
 30 minutes for consult and email reminders
 30 for location scouting
 1 hour for shooting
 3 hours for editing
 1 hour for gallery preview with client and ordering
Total: 6 hours per client

I charge $30 per hour.

My formula:
Time x your hourly cost = total personal pay + Business cost per month / amount of monthly sessions = total business cost per session = Total Session Price (not including prints)

6 hrs x $30.00 = $180

$693 business cost / 4 session minimum = $173
Total = $353 per session

I charge $350 for a session fee with a $700 print order minimum ($150 of the session fee is credited back to my client to be used toward their prints costs).

I now have studio rent and all the utilities and expenses that go along with, but I have been booking more than 1 session a week so I have not had the need to revamp my prices.

I don't envy up-and-coming photographers wanting to make a living doing it. From what I hear, it's a tough business to break into, and the current state of the economy combined with the proliferation of digital makes it even harder.

When I was growing up, I once wanted to become a professional soccer player. Unfortunately, my dreams were shattered when I actually realized that I could not live on this income (not everyone has the star quality that David Beckham has). Almost every pro I met had a second job, or was married to a spouse that worked.

I think the few (and I mean few) good photographers will do just fine, but the vast majority of them will struggle financially regardless what they charge. No formula will help them put food on the table.

I don't envy up-and-coming photographers wanting to make a living doing it. From what I hear, it's a tough business to break into, and the current state of the economy combined with the proliferation of digital makes it even harder.

When I was growing up, I once wanted to become a professional soccer player. Unfortunately, my dreams were shattered when I actually realized that I could not live on this income (not everyone has the star quality that David Beckham has). Almost every pro I met had a second job, or was married to a spouse that worked.

I think the few (and I mean few) good photographers will do just fine, but the vast majority of them will struggle financially regardless what they charge. No formula will help them put food on the table.