What is a Business Retainer?
Retainer Fees, or Business Retainers, are agreements between a business, and a service/sole trader; in which the business pays a reduced fee at ‘corporate rate’ rather than the alternative commercial pricing. It can be a one off fee for a set amount of work/time (say, one month), or a recurring payment per month.
How will a Business Retainer benefit your business?
Business Retainers are first and foremost more affordable than contracting a service, as and when the work is required, at commercial rates. Depending on the agreement, a business can have access to professional services, without employing someone as a full time member of the team: allowing flexible working hours, when the work is needed. Unlike freelance work or agencies, retainer agreements are ‘results oriented’, rather than ‘task driven’. Agencies and Freelance Contractors work solely on the task they are given to complete, rather than the affect and intent of the work being done. We try our hardest to keep consistency regarding your brand identity, and preferred styling/client needs. Retainer agreements are great if you have a marketing budget set aside: together we can plan what work needs to be done at the beginning of each month, and discuss realistic turnaround times and deadlines. Paying a retainer fee also gives you the resources, if the business experiences a busy period,to call upon us quickly for additional hours work (at a further reduced hourly rate)
How much it costs/how many hours work you would receive?
Here at Ross Andrew Photography there are currently 5 tiers of retained days available (4, 6, 8, 10 and 12 days), all of which can be found in the table here:
Retainer Agreements can range from one day a week, to twelve days a month: it’s completely dependant on the work each business require. As an example, a large business with marketing campaigns, events and products, may consider a larger retainer agreement, as they know they will need consistent Photography/Videography services. Whereas a small start up business, may only need one-off work, and can pay for a single month.
What work is included within the Retainer Agreement?
The type of work included, is completely unique to each client and their needs. If you think of our business as a ‘weapon in your arsenal’, you’ll have access to all of our expertise and experience. As a Photographer & Videographer, work can range from product shots, video testimonials, event coverage, documentary/storytelling photography of a manufacturing process, and anything else in between. We’d be happy to step outside of our comfort zone if you have any off-the-wall ideas, but most things we’ve probably done before, or at least know how to do it!
Is there a sign up fee?
There are no ‘set-up’ or ‘start-up’ fees when establishing the first month’s retainer agreement. All that is required is a 50% deposit at the beginning of the month upon signing the Retainer Agreement– and the remaining fee to be paid no later than the final Friday of the month. Each month after the initial month will be invoiced on the final Monday, and to be paid no later than the following Friday.
What happens if we’d like to cancel the retainer?
Unlike many retainer agreements, there is no cancelation period. If towards the end of the month, you decide you no longer require our services -as long as we’re made aware before the following month (in writing), the agreement will be terminated!