HOW TO PRICE YOUR PHOTO ALBUMS

Details

Your three primary costs are the cost of the album, the labor for designing the album, and shipping and handling. To price correctly, you must know your costs.

There is no magic number for the price of an album. But there is a magic formula. In order to calculate this formula you need to simply know the cost of the album, the cost of the labor to design it and the cost of shipping. Some may not want to mark up shipping. It takes time to get the shipped item, unpack it, check it, repackage it and then ship it off. Handling is a big cost and it should be accounted for and marked up.

Here is an example:
$200 = cost of album
$75 = cost of design (3 hrs) 
$15 = cost of shipping

We add these up for a total of $290. Now, we need to figure out the retail price based on cost of goods. Most pros in the industry that have been around for any length of time agree that you need at least 35% cost of goods pricing.

So, take your cost, $290, and divide by 0.35 (35%)
$290 ÷ 0.35 = $828
So, retail should be at least $828 or $900 for a nice round number.

With albums, having three size choices along with cover upgrades is the most profitable form of album pricing. Also, the ability to add pages for an extra fee can increase back-end sales.

Below I have some fictitious portrait album prices. These will be quite low for most wedding albums. The goal here is to show what I think is important in album pricing. It is important to give choices in size. Here I have three size choices. You don’t want to overwhelm your client with a ton of sizing choices. Even if your album company offers every size under the sun, you don’t want to offer them, too. I like to offer square albums and horizontal albums. Feel free to offer vertical albums also, if that is what you like.