All language subtitles for 21 Business - Example Invoices and Estimates.mp4

Now that I've shown you how to build a
quote.

I want to show you some example,
estimates and in voices and show you

how this all comes together.

In this section, I've developed three
sample emails.

And these are examples of emails I get
every single day.

So let's open the first email here.

I'm going to read this out loud.

Hiclay.

My name is Brooke, and I am the art
director at magazine.

We are a magazine that features success
stories of unique people around the

United States.

We have a success story feature in
Gabriel stone and mixologist in

Louisville, Kentucky.

And we need one environmental portrait
on location, preferably at a Bourbon

distillery.

We have attached a creative brief,
which will provide a variety of

examples and an outline of what we need
for the image.

Our budget is 800 dollars.

We will also need hair and make up for
gabrielle.

Do you have any recommendations?

If you're interested, let me know so we
can move forward with production.

I look forward to hearing from you and
hopefully working with you.

Thanks.

Brooksmith, blank magazine.

So the first thing we want to do is
analyze this email.

First, we have one portrait that we
need to capture

secondly.

We have a budget of that one portrait.

Third, we have hair and makeup that we
need to take care of, or we need to

make a recommendation as a client
provision.

This is also on location project.

They want an environmental portrait.

So I'm going to have to travel to this
location.

So that's something to keep in mind.

In this case she's offered her budget
up front.

This does happen, but not often.

And in this case, it's a little low for
what I want to go for.

There's a few questions we need to ask
Brooke, will this image need retouching

and color grading?

And then also we need to ask her

about hair and make up.

She obviously laid out, do you have any
recommendations?

But in this case, we could take care of
hair makeup and add it to the expenses,

which we can make a little profit in
that case.

So I need to respond back to Brooke
with a number that's higher than what

she's budgeted for, to see if we can
meet somewhere in the middle.

And this is where negotiation comes in.

So a pitch brook, 1300 dollars.

We've included the hair and makeup.

We've included the file transfer the
delivery and also the retouching and

color grading in this 1300 dollar
number.

So Brooke might come back and say, hey,
unfortunately, we just don't have the

budget for that.

We do not have the wiggle room for that
number.

And so

in that case, your negotiation might
backfire, and Brooke might say, we've

already found another photographer.

But in most cases, they will say, hey,
we do have that wiggle room, but it

only allows us to go to around 1200
dollars, or in this case, 1250.

So with some simple negotiation,

I've got an extra 450

out of blank magazine for this one
environmental portrait.

Although we have raised this budget to
an extra 450 dollars, we have incurred

some additional expenses, such as hair
makeup and this retouching now.

So you had to keep that in mind.

Now we need to build our estimate,

so we know that we have hair and makeup
at 150 dollars.

We know that we need file transfer,
retouch, color and delivery at 100 dollars.

And then I'm going to combine our
creative feat and our license feat into

a flat 1000 dollar fee.

And the reason why I want to do that is
because I want to keep this simple.

We know that's an editorial assignment.

So there's not much room we have here
to license this photo out.

So what I've done is I've provided a
job description on our estimate.

The job description lays out, as follows

create one environmental portrait of
gabrielle stone on location in

louville, Kentucky, and convey the
following license to magazine

a non exclusive editorial and web
collateral use of one image for one

year from shoot date.

What this license allows them to use
this image for is both the editorial,

the publication,

the online publication,

any blogs in social media.

For one year from that shoot date.

Remember that the reason why I'm being
so lenient with this license is that

this is not a commercial client.

This is an editorial magazine.

So this is the most basic version of
what I get hired for in the editorial

world.

So now let's move on to something a
little bit more complex.

This is our next email.

Hello, Klee.

I hope you're well.

I'm Katherine bell, the director of
marketing at thread, a boutique fashion

brand based in Nashville.

Tennessee, we are working on a
complementary quarterly publication for

our consumers and employees.

Our goal is to deliver a positive
message, feature colorful stories and

promote fashion trends from the
brightest up and coming designers.

At the top of our list is Nashville
based Marco delacroy, who rocked New

York fashion week with his great color
palette.

We need an energetic fashion story of
six looks from his new line.

Although we are open to your creative
ideas, we'd love to have this in a

studio setting.

Please let me know your rate and your
availability.

Best.

Catherine, as you can see from this
email, this isn't exactly editorial,

and this isn't exactly commercial.

This is an example of a fashion ran
that's crossing those streams.

Because of that.

We need to change our pricing just a
bit.

I'd respond back to Catherine with a
few things.

I'd ask her those standard questions,
how are these images going to be used?

Do you need retouching?

Do you need color grading?

And then finally,

what's your budget looking like?

Kathe got back to me and said that she
needs six images, and she needs the

right to use them in the editorial
story, in her quarterly publication, as

well as the right to use them on our
blog and social media.

But in this case, Katherine wants these
images in perpetuity.

I cannot put a time period on this,

so we have to charge a lot more money
for this licensing fee because of that

time period.

So let me show you what I put together.

We filled that estimate here.

And the job description reads as
follows create a variety of photographs

of one female talent on one shoot date
in Nashville, Tennessee and convey the

following license to thread a non
exclusive editorial and web collateral

use of up to six images in perpetuity.

One thing to note here is that we have
a new line of client provisions.

Climb provisions are production costs
that I won't be responsible for.

So in this case, the client is to
provide the talent, hair, makeup

wardrobe, including the cost of
wardrobe catering and production

coordination, such as a creative
director.

And so the fees I've lined out is a
creative fee of 1000 dollars.

This creative fee will get me out the
door.

Thread is based on Nashville Tennessee,
which gives me the ability to charge a

little bit more for this creative feed
than let's, say, louisvilleville,

Kentucky it's a bigger city.

Next up we have the licensing fee of
1000 dollars.

And so because they want these six
images in perpetuity, that's going to

bring this licensing fee from, say,
around a few hundred dollars to 1000

dollars.

That little difference is all profit.

By giving her this perpetual license,
I'm basically losing any sort of

relicensing in the future from thread.

I want to make sure that this license
is priced accordingly, because I can't

come back to Catherine and thread next
year to renew this license for these

same images.

Next on the list we're charging for the
first assistant at 200 dollars.

This is going to pay for my assistant
to come with me to Nashville, Tennessee

and get the job done.

Next, we're having to rent a studio in
Nashville.

That's going to cost me 800 dollars for
the day.

Next, we had the file transfer,
retouch, color and delivery of six

selections at 200 dollars.

Each

Jordan will be doing the retouch
portion of this job, and he's going to

be taking a percentage of this 200
dollars.

But keep in mind, I'm going to be doing
the file transfer, the color and

delivery with each one of these images.

I'll be making a profit from this
expense.

And finally, because I am traveling
from Louisville, Kentucky to Nashville.

Tennessee, I want to make sure I charge
for my mileage and some miscellaneous

travel expenses.

This is the final estimate of 4500
dollars.

So now we're going to send this over to
Catherine for the signature.

Now let's get to our third and final
email.

It reads as follows.

Hey, clay, firstly.

Thank you so much for the wonderful
creativity and professionalism you

brought to the table with thread.

It was fun to watch you work, and it
was a blast to collaborate with you on

the future.

With that said, I'd love to have the
high resolution images to display on my

website.

Additionally, I would like to use one
of the shots for a billboard in

downtown Nashville to promote an
upcoming fashion show where the

collection will be debuted.

Let me know if you need anything for
me.

Thanks.

Marco delacroy, this actually happens
quite often in the editorial world,

where i'll be hired to shoot for a
publication.

And then the subject that I photograph
wants to license those images to use

for their business.

This is a great example of how we can
make some more money without taking any

additional photographs.

We already have a clear understanding
of what this license needs to be,

because Marco spelled it out in the
email.

So we're going to go right into our
estimate and get this back over to him.

I'm in a midsized market.

I understand that I'm not in New York
or I'm not in LA, and so people in my

market are a little bit more
apprehensive with limited licenses.

So I want to throw Marco just a nice
blanket license.

That's going to cover web collateral,
which means he can use this on his

website, blog and social media.

And then I provide him with a local
print advertising use of up to six

images for two years from the file
delivery.

This type of license also protects me,
because in case Marco blows up, his

collection becomes famous, and he wants
to license this image worldwide, he's

going to have to come back to me also.

If he wants to use this license after
two years, he's going to have to come

back to me and renew again.

So what I came up with is a licensing
fee of 2000 dollars.

This covers billboard local print
advertising as well as the web

collateral license for two years of up
to six images.

Now let's say we send this over to
Marco.

And he's a little shocked that this is
going to cost him 2000 dollars for this license.

So one option is I can walk away, but I
don't want to do that, because all the

hard work is already done.

There's nothing that I have to do from
this point other than draft a license.

So we needed to negotiate here, and
Marco only has 1500 dollars to spend.

So I'm happy to meet at that, but I'm
not going to give him exactly what he

wants.

We need to change the terms of this
license in order to meet there.

So there's a few options I have here,
and there's a few things I can change

in this license.

But in this case, I'm going to go with
the time.

I'm going to reduce this two year time
period to one year.

It'll still make Marco happy, because
he can still print his billboard, and

he still has the option of using these
on his website.

But now he has to come back to me if he
wants to renew this license for an

additional year.

So I haven't given you every answer
about pricing, but hopefully I've given

you a little bit of insight of how I
price my photography

when it comes to pricing.

I'm no expert at it, and honestly, a
lot of photographers are in the same

boat.

But I know that the more you do it, the
more comfortable he'll become.

In these three examples, I built
estimates that are agreements, or contracts

that are signed before the shoot.

There is one final step after I deliver
the images and that's sending an

invoice or a bill.

And this is how I actually get paid

with an invoice.

There's a few things that you need to
make sure that are listed on this

invoice.

And so I've developed a sample in voice
for you to see.

Notice that there's a dative invoice,
title of the project, description of

the project, client name and contact
detail.

Then you need to have your own name,
address and contact detail.

You need to have the total amount owed.

And then finally, the terms of payment.

I shoot a lot,

so it's really hard for me to keep up
with who's payment, who hasn't paid me.

So I use the accounting software, quick
books.

Quick books not only allows me to send
out my invoices, but also allows me to

keep track of my income and expenses.

So if you're just starting in
photography, quick books might be a

little bit of advance for you.

But if you're making over 10000 dollars
a year, I highly recommend looking into

that software.