Pricing and why photographers charge what they do

As a new photographer I can admit that the one thing that has tripped me up is pricing. I have done the research and the good photographers in my area charge about 3-5x more than I am currently and that doesn't include a CD with high quality edited images. That is just the session fee and then clients are required to order prints. So what is the point of this post you ask?

Well this...I am struggling with choosing how much to charge. Since I am new to the town I am in and I have yet to build a reputation I don't want to charge what I feel I am worth because I am afraid I will not get any business. However when I break down the cost associated with each session I am left with figures that have me making $3.31 an hour!!! Yes you read that right...less than minimum wage. Here is what goes into a typical session for me:

30minutes of emailing, Facebooking, chatting with clients
1-1.5 hours of on location shooting (I almost always go 1.5!)
3-5 hours editing 15-20 images (15 minutes an image)
15 minutes meeting with clients to give their images
CD and insert for CD
30 minutes spent uploading to Facebook for client preivews
2 hours of payment for a babysitter
20-30 minutes of driving to/from locations

Grand total of about 8.5 spent on each session not including 2 hours for sitter. Let assume I charge $50.00 a session here is the break down from that:

50.00 - .8.5%  for taxes= 4.50 (this is not enough!!!)
45.50 - 12.00 for sitter= 33.50
33.50- 4.00 for gas/mileage = 29.50
29.50-3.00 for CD/paper insert = 26.50

26.50 / 8 hours spent editing. Facebooking, chatting etc = 3.3125 an hour!!! $65.00 a session which I a currently at puts me making $5.06 an hour. Still less than minimum wage.

So the next time you are considering booking a photographer please stop and think about why they charge what they do. They charge that so they can make a living and make it worth being away from their own families while still getting to do something they love and are passionate about.

I also hope that if any new photographers find this post that you charge what you feel you are worth. It is easier to discount or go down than it is go up once you have already set your prices!!!