hey there guys, i am asking for some advice here.
I did a music video for a rock band about 4 months ago. It was one day of shooting, one location and about 20 hours of editing. Being one of the first paid projects I'd ever done, I charged them a flat rate of 200 dollars (we settled on the amount before even shooting it).
Since the last video I made for them I have recruited two members to my team, purchased a better camera (while keeping the old one for secondary angles), purchased video lights, and most importantly have become better at creating quality material with a portfolio to prove it.
Fast forward to now: they want another music video, this time with probably three to four days of shooting, two locations and a few more hours of editing than their previous video (they want it somewhat VFX heavy).
We have a quote meeting scheduled on Friday to talk about the pricing breakdown; the problem I have is that they are expecting the same flat-rate, roughly 200 dollar price as last time. I think they feel that we have a rapport and therefore my prices will never change because it's a "friends and family" type discount.
How do I break the news to the band that I need to charge more? Should I just tell them that we need a larger budget to successfully accomplish what they want? I don't want to seem shady or greedy, I am simply trying to transition this video hobby into a business and I know that I have to start charging more (for a greater profit, but more importantly to legitimize the business as professional). How can I do this professionally while still keeping that "friend" vibe?
Second question: should I start charging hourly on any of the services we provide (such as shooting=$x/hr, editing=$x/hr, etc), or is it better as a small (three person) business to just charge a higher flat rate? Or alternatively, is it better to do it case by case, based on the budget and needs of the client?
Help!
I did a music video for a rock band about 4 months ago. It was one day of shooting, one location and about 20 hours of editing. Being one of the first paid projects I'd ever done, I charged them a flat rate of 200 dollars (we settled on the amount before even shooting it).
Since the last video I made for them I have recruited two members to my team, purchased a better camera (while keeping the old one for secondary angles), purchased video lights, and most importantly have become better at creating quality material with a portfolio to prove it.
Fast forward to now: they want another music video, this time with probably three to four days of shooting, two locations and a few more hours of editing than their previous video (they want it somewhat VFX heavy).
We have a quote meeting scheduled on Friday to talk about the pricing breakdown; the problem I have is that they are expecting the same flat-rate, roughly 200 dollar price as last time. I think they feel that we have a rapport and therefore my prices will never change because it's a "friends and family" type discount.
How do I break the news to the band that I need to charge more? Should I just tell them that we need a larger budget to successfully accomplish what they want? I don't want to seem shady or greedy, I am simply trying to transition this video hobby into a business and I know that I have to start charging more (for a greater profit, but more importantly to legitimize the business as professional). How can I do this professionally while still keeping that "friend" vibe?
Second question: should I start charging hourly on any of the services we provide (such as shooting=$x/hr, editing=$x/hr, etc), or is it better as a small (three person) business to just charge a higher flat rate? Or alternatively, is it better to do it case by case, based on the budget and needs of the client?
Help!