Photography Business Calculator

This calculator is a rough tool created by the Professional Photographers Association of Singapore (PPAS) to help new and existing photographers in Singapore as well as other Self-Employed Persons (SEPs) in the creative industry to understand and manage their finances properly and plan for viable business/career growth. Folks looking to buy photographic services should also use it to understand the actual cost of producing visual content.

The default values are a set of simulated assets and expenses of a small photography business and purely fictional. Users are encouraged to play around with the values.

*Disclaimer: This tool is purely for self-education purposes and by no means attempts to imply how much one should charge for their services.

What is your expected annual income?Your target personal annual "salary", not business revenue. This is similar to how much an employed person takes home from work including bonuses. Freelancers (self-employed persons) do not have work bonuses, overtime, sick leave, holidays, or company welfare, so take that into perspective with your income expectations.

How many billable days will you have in a month?The number of days you expect to be billing clients from photography-related work: meeting clients, pre-production, shoot, post-production. A new professional photographer in event photography does 2-4 days of shoots per month on average (which CAN increase to 14 days with proper experience and contacts). Unless you are confident of having multiple jobs a day, be careful about "half-day" rates - usually, a half-day shoot consumes a full day's opportunity cost.

Business Assets Value and Depreciation

Equipment depreciates over time. Professionally used equipment degrades faster due to increased usage.

Value of photo/video equipmentYour cameras, lenses, filters, batteries, and all other accessories.

Value of lighting equipmentStudio lights, speedlights, reflectors, light stands, light meters, etc.

Value of office equipmentComputers, monitors, NAS, etc.

Value of miscellaneous equipmentFurniture, studio props, fridge, microwave, etc.

Your business assets are worth:

When depreciated over 3 years with a 20% scrap value, your annual asset depreciation is:

Monthly Business Expenses

These are regular recurring expenses that happen on a monthly basis like office rent, bills, and transportation

Office/studio rental or mortgage

Office/studio utility billsWater, electricity, building services fees, waste removal fees, etc.

Monthly service subscriptionsMobile phone, Internet, Adobe Creative Cloud, website hosting, cloud services, etc.

Company vehicle

Transportation CostsEstimated. E.g.: 20 days of taxi rides costs around $400

PayrollPayment for both full-time and part-time staff

Your monthly running costs:

Yearly Business Expenses

These are more infrequent expenses like annual camera/lens/lighting/vehicle servicing, but are necessary for proper budgeting.

ConsumablesBackdrops, filters, paint, paper, ink, etc.

Equipment maintenance

Professional servicesAdvertising, accounting, etc.

Personal and business insurance

Training and educationStaying updated on the latest software, editing techniques, equipment, etc.

Your annual miscellaneous expenses:

Total annual cost of running your business:

$/year

So, to break even (ZERO profit), you need to make at least:

$/month

To reach your target annual income of ${number-1}, working {number-2} days a month:

Monthly revenue you need:

$/month

Opportunity cost:

$/day

Opp cost example

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated Income Tax:

$/year

Estimated CPF Medisave contribution:

$/year

Estimated CPF Medisave contribution:

$/year

Estimated CPF Medisave contribution:

$/year

Estimated CPF Medisave contribution:

$/year

Your eventual take-home income:

$/year

Practical Example

Let's say you need to estimate costs for a 2-day outdoor commercial shoot. This likely includes:

1 day for briefing/meetings/planning/contract signing
2 days on location (recce and pre-production)
2 days of actual shoot
2 days of post production

This 2-day shoot consumes an opportunity cost of ${calculation-26}.

This is EXCLUDING additional production costs like location license, models, make-up artists, stylists, assistants, props/equipment rental, retouching, proofing, etc. These costs add up!

Remember, being a freelancer (SEP) is a full-time job. Be vigilant in securing a successful future by not underestimating yourself or your career.

Business Assets Value and Depreciation

Equipment depreciates over time. Professionally used equipment degrades faster due to increased usage.

Monthly Business Expenses

These are regular recurring expenses that happen on a monthly basis like office rent, bills, and transportation

Yearly Business Expenses

These are more infrequent expenses like annual camera/lens/lighting/vehicle servicing, but are necessary for proper budgeting.

Practical Example

Want to know more about running a photography business or just simply want to improve your skills?Join the PPAS community now!

Want to know more about running a photography business or just simply want to improve your skills?
Join the PPAS community now!