Originally posted by Luis:
thanks Lensmith...what do you think about this plan...I was thinking..., with the G5 and the new HD10U or ag-dvx100, making documentaries and corporate videos for very small biz...just wondering how much would you charge them?, I have no idea, even wedding or event coverage, I don't know how much are the fees.any one?
...in the meantime trying to get into freelance too with your advices...
I want to be very clear and not appear negative.
Put your gear questions aside for a moment. You have other more important things to consider before you spend one dime on equipment.
I'm in an area where the costs and rules of business in many ways are very different from someone based out of the United States. You need to sit down and do some math.
How much do you need to make to live?
Are you single or do you have others who rely on you for support?
What are your BASIC costs for survival.
Housing costs?
Vehicle?
Insurance?
Food and water ;o)
Then you have to be VERY honest with yourself.
What kind of money is in your bank account now?
That will tell you what you can afford to buy as well as how long you can last without working (and still paying all your bills) before you "fail". I mean "fail" in the nicest terms ok?
Be honest with yourself again. Do you have any clients willing to hire you tomorrow and put you right to work?
What level of quality are they willing to pay for?
Add up the hard numbers that allow you to survive and keep up with the bills.
Answer the client question and figure how many days a month you would REALLY work.
Divide the days of work number into the total number of the bills you need to pay.
That's how much you need to charge a day to work but that is your BOTTOM LINE number and you should remember that leaves nothing for you to put in savings...so add a little bit on top of that day rate figure. How much is up to you and the realities of your local business climate.
Miami is a good market but there are also a ton of established freelancers based there already.
There is no day rate that works for every location. It's nice to think you'd get paid the same as a freelancer living in New York or LA but that's not reality. Especially if you haven't built a client base and reputation yet.
If the numbers don't look right to you then you have to do something to make them work.
Get more clients?
Cut down on your bills somehow?
Rent gear instead of buying your own?
Maybe you need to relocate to where there is a larger client base but that throws all your numbers off and increases you risk of failure.
It's easy to make a list of all the different kinds of camera and support gear. We all have a wish list but again the reality of your clients needs, as well as your own, should be considered before a purchase. The truth is there is always something newer or better coming out.
I don't know of a single freelancer who hasn't had to go threw some very hard times...no matter how long they've been working. In freelance you are always looking for the next job. ALWAYS! You can never count on one company or client giving you all of your work forever. Someone else will always come along and try and undercut you no matter how cheap your day rate is. Lots of companies change their attitude about freelance hires due to changing economics. You have to be ready to deal with all these possibilities if you want to survive.
Are you looking to freelance until you are at a typical retirement age? Are you looking to freelance only for a few years and then do something else?
As you can tell the only one who knows these answers is you. You have to make a realistic plan and then act on it...but always knowing no plan is perfect.
The best advice I ever got when I started was before you buy anything, have a financial safety net. Money to carry you during the times you won't work. Don't kid yourself into thinking that will never happen. It will. Plan for it. Usually that means having enough money in the bank to live for three months with no work.
I think you'll find all of us at one time or another have hit near bottom freelancing. That's when you have a real gut check about how good you are and if this is the life you really want to pursue.
Nothing lasts forever. That includes good times...and bad times ;o)
Lastly...freelance is a business. Be ready to do more than just shoot and edit. Now you're also the accountant, salesman and bill collector. Like any business it takes anywhere from three to five years of real struggle to make any business work whether it's in television or some other field.
It's great to be your own boss but when things go wrong there's no one else to shoulder the blame except yourself. Plan as well as you can NOW for every possibility and think long term.
Good luck ;o)
