20230513_Ursinus Commencement_Margo Reed Studio-378

All about Retainers.

A retainer is a fee paid regularly or in advance to secure services from a freelancer. Being hired on retainer means entering into a strategic agreement where both parties outline expectations, terms, and the scope of work. This agreement ensures that my photography services are consistently accessible and in demand over an extended period.

Pros and Cons

1. Relationship building

Pro: First and foremost, your photographer becomes a part of your team. This means less time spent emailing back-and-forth or holding one-off meetings with me about your vision or plans. Instead, I become a part of your marketing team and am happy to attend meetings and work on vision boards to make sure we're all on the same page in organizing an efficient and beautiful shoot. Working together on retainer allows us to build a strong professional relationship over time. I familiarize myself with your preferences, brand identity, and specific photography style requirements, ensuring that my work aligns closely with your vision.

Con: Once in a while, I'll need to send another photographer from my team to shoot an event. This is to ensure availability for you at all times. The good news is, you'll get to know some of these other great photographers, and you'll be working with a fresh set of eyes from each of us. This gives your portfolio diversity in vision with consistency in color and feel since I act as the producer and editor on every assignment.

2. Budget-easy Payment

Pro: It's automatically a work-for-hire relationship. No more licensing fees for one-off shoots, which makes the service more affordable and easier to budget for. A retainer allows me to spend less time pitching ideas to new clients and more time focusing on you. Additionally, it allows you to budget for my service as a monthly expense like you would an employee's paycheck.

Con: You're paying a regular bill.

3. Priority Service and Guaranteed Availability

Pro: As a retainer client, you benefit from priority service. I prioritize your projects, making myself available for urgent or last-minute requests whenever they arise. By being on retainer, you secure priority access to my photography services as well as the other photographers on my team. I commit to being available for the agreed-upon number of hours or days per month, ensuring consistent availability for your projects.

The Process:

1. Initial Negotiation: We begin by discussing your photography needs and objectives. We negotiate the terms of the retainer agreement, including duration, availability (hours or days per month), pricing, and payment terms.

2. Signing the Agreement: Once we agree on the terms, we formalize the arrangement by signing a retainer agreement. This document outlines our mutual commitments and ensures clarity on expectations.

3. Flexible Service Options: The retainer agreement is flexible and can be customized to meet your specific photography needs. Whether it’s corporate events, product photography, portraits, or other types of assignments, I can accommodate various requests throughout the retainer period.

4. Consistent Quality and Deliverables: I consistently deliver high-quality photography according to the terms of our agreement. This ensures that you receive a steady supply of images or photography services tailored to your marketing, promotional, or operational needs.

5. Regular Communication and Feedback: Throughout the retainer period, we maintain open communication. I welcome your feedback to ensure that my photography continues to meet your expectations and evolves with your changing needs.

6. Mutual Benefits: Hiring me on retainer is a mutually beneficial arrangement. It provides you with reliable access to professional photography services while offering me stability and the opportunity to focus on delivering exceptional results for your projects.

Sample Retainer Agreements are typically written for quarterly or monthly services and include:

Scope of Agreement
# of meetings photographer will attend
# and length of shoots photographer will book
definition of deliverables (# of photo, videos in length)

Fees:
A monthly fee to ensure the above can be completed.

Terms:
To be agreed upon between client and photographer. Work-for-hire copyright agreement is included here.

Click here to view a sample retainer contract.

Let's run the numbers:

A one off shoot:

1 meeting with all pre-production falling on you or via email.

2 half day shoots

300 images delivered

Licensing fee

$4500.00 once or $18,000.00 for 4 shoots per year.

On monthly retainer retainer:
Unlimited preproduction meetings, texts and phone calls, which ultimately decrease due to relationship building.

2 Monthly shoots

300 images delivered per-shoot

$1133.00 monthly or
$13,600.00 for 4 shoots per year.

20230513_Ursinus Commencement_Margo Reed Studio-378 - MargoReed

All about Retainers.

Pros and Cons