If you are living the dream and setting up your own tattoo studio, then one important aspect of your business to consider is how to set your prices. Too low and you risk undervaluing your work and not being able to sustain the running costs of your studio. On the other hand, go in too high and you could risk sending potential clients away to look elsewhere.
You will also need to find a fair price point that is profitable enough to allow you to buy high quality tattoo supplies. Cutting corners by using cheap inferior materials is false economy, because it could result in work that is less durable and vibrant, and this will make it more difficult for you to build up your reputation in the industry.
Here’s a guide to finding a workable pricing structure that will allow you to grow and succeed in your body art career.
Questions to ask yourself
What is your experience and skill level?
As in many other artistic fields, those with the greatest skill level and experience can command the highest prices. Therefore, be honest with yourself: if you are just starting out and haven’t yet established a name for yourself in the industry, then you will probably need to charge more modest prices to be competitive.
However, put a plan in place to gradually increase your prices over time to avoid getting stuck at the same level: clients may be suspicious of a more established business that charges very low prices, and may be prepared to pay more for higher perceived quality. Check out the market rate in your area, and aim to match it.
If you are already an experienced body artist with a great portfolio of clients and glowing testimonials, when you are likely to be in demand and can charge premium rates.
What’s the baseline amount you need to survive?
You are an artist but also a business owner, and you need to make sure that you can cover your costs. Work out a monthly balance sheet, factoring in studio rent and bills; supplies such as inks, cartridges, and personal protective equipment; tax and insurance; tattooing equipment including parts and maintenance, and sterilisation and hygiene products.
Also consider the time and expenses incurred during admin, preparation and marketing tasks. Balance these costs against the minimum amount of clients and baseline charges you will need to break even, with enough left to cover your personal living expenses if you do not have a second income stream.
Hourly Vs. flat rates
A flat rate is a fixed fee per tattoo, regardless of how long it takes. An hourly rate reflects the time and effort needed to complete the whole tattoo process. You could also charge half or full day rates, which gives full transparency for the client, while allowing you to focus on larger or more complex pieces without worrying about time pressures.
Consider the complexity of the design and the amount of ink required; how extensive the tattoo is; and if it is in a body placement that is tricky to work on, and adjust your prices accordingly.