Calculating costs. How and why??

I was at a meeting of artists today and the usual conversation about us under valueing our work came up. I thought this thread might be helpful to folk who forget to, or don't factor in certian costs. I also found that when I explained my cost's to the client, they were fine about it.

Anyway, I'll get the ball rolling, this is how I calculate travel simply...

Travel.
I usually charge €10 per hour while I'm in the car (driving is a job, I charge 25% more than min wage for Ireland because I reckon a drivers licence is a qualification) plus the petrol. For example, I had a gig about 2 1/2 hours away on Sat, it had some tolls and the petrol was almost a tank so I rounded it up to €100 travel. It was a corporate gig, I imagine a private party wouldn't book someone so far away.

The furthest private party was about 1 hour away (€20) and another €15 petrol. Again they were fine about it.

I charge mileage ($0.50 km) IF the venue is OVER 50 kms round trip from my home - that is for the total trip, not just the part over the 50 kms.

It is a very long distance between places up here and while I COULD charge them an hourly rate it would vary as highway driving (at 100 or 110 km/hr) and gravel road driving (60-80 km/hr) is very different time wise, AND weather conditions have a bearing too.

I often do jobs 252 kms away so the mileage charge on that is $252.00 That is easy to calculate too - just the one-way trip in dollars!

I hope Daizy doesnt' mind, I'm pulling a quote of hers from another thread because it got me thinking about costings. There's nothing like experience to teach you lifes' lessons.

Daizy wrote:It is hard too, the splitting thing, so far I have just done a few small events so have kept their cash 'under the table', although I made the fatal mistake of just splitting 50/50 (straight after an event so I was not able to think clearly) and I forgot to take out the stall fee, the kitty I put in, the lunch money they already took out.... needless to say I came out very empty in the pocket.

The lesson here I guess is to always have in mind 'expensise first, pay after'. Cost the gigs expensis before you even negotiate.
1) Travel
2) Food
3) Stall
4) Extra crew
5) Extra bought stuff especially for the gig, eg. a themed item or neon paints for a night gig.
6) Time slots that cost more or less (is mid-week a cheaper time for the client, what about Saturday nights??).

I have to admit, I've often been lax in these matters and I really think it helps to bounce these ideas off others. Big thanks, Shannon for being so generous with your experience with fellow painters

You're welcome.

Just have to say - that is why is it SOOOO important that you take the time to figure out your costs BEFORE you set your rates... You HAVE to cover them, plus some profit, or why even bother?

Can't I just charge $500/hr and be done with it

Psalmbook wrote:Can't I just charge $500/hr and be done with it

well you could.... but I don't think you'd be very busy.

$500 a day is fine with me.

I am still trying to figure out all the costs involved with traveling. I think after reading this I should rework things. I usually do a small travel fee for about $25 for something within an hours radius of me. This covers the gas expenses. Are there other things I should be considering instead of gas?

I charge on distance/time traveled. If it's going to take me an 1 hr to get there + 1 hour back for a 2 hour (minimum for that distance) gig, then I charge maybe an $50-75 more b/c you are loosing gigs that could be closer. But thats just me

Wear and tear on your vehicle, insurance, registration, gas, oil, etc. All the costs associated pro-rated out.

But I like the figuring based on lost gig time too!