How to Calculate
Once all the costs have been documented, it is time to calculate how much to charge customers. For equipment, average the cost over the estimated time the equipment will last. A $1,000 computer that last five years or 60 months, costs almost $17 a month. Labor can be averaged on the hours spent on each wedding and the hourly pay of you and your workers. For a one time advertising or legal fee, such as a lawyer's fee for writing a contract, divide the cost by 12 months.
Let's use an example of a wedding photography budget breakdown that has business expenses of $2,000 a month and an average of three weddings per month. This photographer would need to charge a minimum of $1,400 per wedding. That covers all costs and allows for a markup of two times all costs, which is typically divided by the minimum number of weddings per month. According to Cost Helper, the average budget wedding photographer charges about $1,000. Moderate wedding photographers charge between $1,000 and $3,000 and luxury photographers charge $5,000 to $10,000.
Whatever you decide to charge, make sure it covers each and every business cost you have and allows you enough of a markup. Strive to become a well-fed photographer rather than a starving artist.