Pricing for Video Production: Estimating Fees for Non-Professionals

When you're not a professional, determining a fair fee for a 3-7 minute video production involves several key factors. In this article, we'll break down the process, providing you with a step-by-step guide to estimating your charges.

Factors to Consider When Estimating Fees

There are several elements to consider when pricing your video production services. Here’s a detailed breakdown:

Time and Effort

Estimate the total time you’ll spend on each phase of video production, including planning, filming, and editing. For example, if you estimate a total of 20 hours for your 3-7 minute video, this will be a critical component of your pricing model.

Equipment and Resources

Include any costs for equipment rental or purchase, as well as software and other resources. If you’re using existing equipment, factor in its current value or financing costs. If equipment needs to be rented, that cost must also be included.

Skill Level

While you are not a professional, your experience and skills still contribute to the quality of the final product. Be honest about your level of expertise and ensure your rate reflects this. On the one hand, you can set a lower rate than a professional, but it should still be fair compensation for your time and effort.

Market Rates

Research what others in your area or industry are charging for similar services. This benchmark will help you set a fair and competitive price. Consider using online platforms or local business directories to find comparable rates.

Example Calculation

Let's illustrate the process with an example:

Step 1: Calculate Your Time

Estimate how many hours you’ll spend on each phase of video production:

Planning: 5 hours Filming: 5 hours Editing: 10 hours

Total estimated hours: 20 hours

Step 2: Cost of Equipment/Resources

Include any costs associated with equipment or software:

Equipment rental: $200 Editing software subscription: $50

Total equipment/resource cost: $250

Step 3: Skill Level

Determine a fair hourly rate based on your experience. For a professional rate, you might charge $50 per hour; as a non-professional, set your rate accordingly but ensure it reflects your effort and quality.

Step 4: Calculate Total Fee

Let's say you decide on a fair rate of $20 per hour:

Total fee 20 hours x $20/hour $400

Include the cost of equipment/resources:

Total fee including resources: $400 $250 $650

Pricing Models

There are different pricing models you can consider:

Per Video

For a basic 3-7 minute video, non-professional rates can vary. A reasonable range might be $100 to $500, depending on the complexity and production value.

Hourly Rate

If you prefer an hourly rate, you might charge between $25 to $50 per hour, based on your local market and the specifics of the job.

Example Calculation for Hourly Rate

Imagine it takes 10 hours to produce each video, including shooting, editing, and revisions. If you charge $30 per hour, your fee would be:

Total fee 10 hours x $30/hour $300

Additional Tips

To set your prices effectively, consider the following tips:

Start Lower

Given that you are not a professional, starting on the lower end of the scale can help you gain experience and build a portfolio. This can also attract clients who are new to the video production industry.

Offer Packages

Consider offering a package deal for clients needing multiple videos. For example, you might offer a discounted rate for a bulk order, which can be mutually beneficial.

Communicate Clearly

Ensure you outline what's included in your pricing, such as the number of revisions, the length of the video, and any other services provided. This will help avoid misunderstandings and ensure your clients understand the value they are receiving.

Conclusion

As a non-professional, the range between $100 and $500 per video is reasonable to start with, adjusting based on your specific situation and the project requirements. Make sure to account for your time, effort, and any additional costs involved. By following these steps and tips, you can set fair and competitive prices for your video production services.