professional practice

Day rate -Professional Practice

 

Annual estimate approx of living and business cost:

To work out my day rate I have to add my living estimate  and business estimate £17,920 Living estimate approx:  £11,060 Business estimate approx: which comes to £28,980 plus tax which is 20%

To find the total tax I would pay I need to add my business and living estimates together which is £28,980 then times by twenty and divide by 100. £28,980 x 20 (divide by 100 = £5,796 total of tax I would then pay. (below are bullet points explaining clearer on cost and out goings )

Total living and business including tax together comes to  £34,776.  I would need to divide £34,776 into 46 weeks accounting for six weeks holiday a year.  I would need to earn £756,00 a week at least.

 

Mortgage/rent £6,300

Utilities             £3,000

Food                   £3,000

Clothes             £1,300

Other bills       £1,320

Holidays          £2,000

Savings            £1,000

Annual Total  £17,920

 

Annual Rental of kit                                                                  £3,330

Petrol                                                                                              £1,200

Insurance                                                                                      £500

Professional training course                                                    £500

Promotion and networking                                                      £1000

Advertising                                                                                    £400

Legal costs                                                                                     £500

Premises rent and overheads                                                 £3,600

Maintenance and servicing                                                     £30,00

Annual total:                                                                                 £11,060

So by my findings- I would need to earn at least         £34,776 

 

Idea from lecture notes:

 

WEDDING PHOTOGRAPHY

To make this simple I am going to split the costs into sections on a lower end wedding budget for costs and charges purposes.

  • Visit bride and groom at their home
  • Pre wedding shoot
  • Visit church and venue for after the ceremonial (I am going to say the place of wedding is a hotel so venue and accommodation are at the same place.
  • Choose photographs
  • Deliver photograph package
  • Petrol  x  5 visits          £50.00  (of course this will vary from distance for each wedding)
  • Package type               £235,000 Silver package
  • Day Rate                       £200
  • Equipment hire          £100 per day x2
  • Assistant                      £7.05 aged 21-24  ( I will work cost out on a 10 hour day)
  • Assistant                      £ 7.50  ages 25 and over
  • Post production         £30.00

Total cost £785.50

Sourced by lecture notes, general knowledge (estimates)

 

 

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