Common Financial Arrangements of a TFP
Though having a TFP agreement saves a lot of money for both, the photographer and the model, it isn’t free. There are accompanying expenses that must be shouldered during the photo shoot. The typical expenses are broken down as follows:
Expenses for the photographer:
1. Rent and procurement of the studio and equipment
2. Rent and procurement of props
3. Development and printing of the pictures
Expenses for the model:
1. Fees for the hairstylist and makeup artist
2. Rent and procurement of clothes
Besides dividing the expenses for the photo shoot, the photographer and the model should also arrange the compensation they get from each other. For example, they should agree on how many pictures will be provided and how long the modeling session last. The usual arrangement is two medium-size photos for every hour of modeling. But this will vary, depending on the photographer and the model. The model may also indicate the format of the pictures and must insist on high-quality photography paper.
And finally, if the photographer intends to use the pictures for commercial purposes, he or she must decide if the model will be paid upfront with a fixed amount and have an additional agreement, the model release form, or agree on a 50-50 arrangement on the money that can be earned by the photos.