Cost of Goods Sold Demystified

281 - Pricing your photography services shouldn’t feel like a guessing game! But if you’ve ever wondered why your bank account doesn’t reflect your hard work, it might be time to look at your cost of goods sold (COGS). In this episode, we’re breaking down what COGS really means for your photography business and how to price your products profitably—without the overwhelm.

What to Listen For:

• The real definition of cost of goods sold (COGS) and why it's not what you think.
• Why photographers often underestimate their true costs.
• How to calculate your COGS per session to ensure profitability.
• The industry standard percentage for COGS and why you should stay below it.
• The difference between general expenses and cost of goods sold.
• How home-based and retail studio pricing models compare.
• Why albums should be priced 10x their cost.
• The biggest mistake photographers make when pricing prints.
• How selling single prints and digital files can hurt your profit margins.
• The one thing you should do right now to check your pricing health.

Understanding your cost of goods sold is the key to running a profitable photography business—whether you’re part-time, full-time, or growing to the next level. Now, it’s time to put this into action!

💡 Ready to make pricing easier? Get access to the Session Profit Planner at freedomfocusformula.com/target and use the coupon code PODCAST for free access!

DM me on Instagram (@nicolebegleyofficial) and let me know your COGS and session profit goals!

Important Links:

• Session Profit Planner: freedomfocusformula.com/target (Use code PODCAST for free access!)
• Master pet photography at Hair of the Dog Academy – www.hairofthedogacademy.com
• Join Freedom Focus Formula and stop undercharging – www.freedomfocusformula.com
• Crack the code to booking more clients inside Elevate – www.freedomfocusformula.com/elevate
• Learn commercial pet photography – www.hairofthedogacademy.com/commercial

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JOIN THE PARTY:

• Connect with us on Instagram
• Explore valuable pet photography resources here
• Discover effective pricing and sales strategies for all portrait photographers.
• Ready to grow your business? Elevate helps you do just that.
• Check out our recommended gear and favorite books.