PDF HOW TO CALCULATE YOUR FEES

[Pages:2]HOW TO CALCULATE YOUR FEES

Step 1. Calculate your fixed expenses for the year. How much will you spend on fuel, internet, phone, insurance, computer upgrades, camera gear? Add up all of your expenses. Step 2. How much do you want to take home as your salary, and add that to your expenses. Step 3. So let's say you have expenses of $10,000, and you want a salary of $50,000. So your target is $60,000 for the year. Step 4. How many days will you work in a year? If you're working for 48 weeks in a year, and doing Monday to Friday, then that's 48x5 = 240 working days per year. Step 5. So to work out what you need to bring in each day, take your target amount (from Step 3), and divide that by the number of working days per year that you'll be doing. So in our example, it would be: $60000/240 = $250 per day. That's the daily dollar target for this example. Now it's your turn. Write your details in the spaces below to calculate your daily dollar target. First of all I'll calculate my target for the year (that is, what dollar amount do I hope to bring in as a result of my photography this year)

My expenses for the year = $__________________

My desired salary for the year = $__________________

_____________ (my expenses per year) + __________________ (my salary per year)

= ______________________ (my target for the year)

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How many weeks will I work this year? ________ (eg. 48 weeks) How many days per week will I work? _________ (eg. 5 days)

Therefore, to calculate how many days per year I plan on working:

__________ (weeks per year) x ______________ (days per week) = _______ (days per year) Then to calculate my daily dollar target, I take my dollar target for the year and divide it by how many days I'll be working this year: ___________________ (my dollar target for the year) / ________ (days per year)

= ____________________ (my daily dollar target) Can I do this based on my current pricing structure? Yes / No BROUGHT TO YOU BY:

Darryl Stringer: darryl@ Find out more about what I do by visiting: reps

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