Retainer payments—sometimes more low key referred to as deposits—are a crucial part of running a successful photography business. They don’t just secure a spot on your calendar, they also solidify the client’s commitment, ensure you receive compensation for your time, and act as a safety net if the client cancels or reschedules.

Before we really begin this post talking about retainer payments in all their glory, one thing we want to highlight real quick is the suggestion to use the term “retainer” instead of “deposit.”

This is a sort of legal distinction and while in passing conversation isn’t much of a big deal, in business it actually does matter.

Why?

Because retainers are typically more legally binding, making them a better choice when it comes to protecting your business.

So…make sure this is reflected in both your contracts and communication with clients.

With that said…let’s talk more about retainers for photographers…

Flat Fee vs. Percentage-Based Retainers

Over the years, we’ve seen photographers handle retainers in many ways—some use a percentage of the total package price, while others opt for a flat fee.

Unless you have a specific reason for using a percentage-based retainer, we recommend switching to a flat fee.

Here’s why:

1. Simplicity for Clients: Flat fees are easier for clients to understand. There’s no math involved, and it keeps the booking process smooth, especially during a time when your clients are already juggling a lot of financial commitments (like booking venues, florists, etc.).
2. Stronger Legal Standing: Flat fees are generally more enforceable in court than percentage-based retainers. There have been cases where photographers lost lawsuits and had to return retainers because the fees were deemed unenforceable. Using a flat fee can reduce this risk.
3. Easier to Hold Your Ground: When a client cancels or reschedules, having a flat fee makes it easier to justify holding onto the retainer. It’s straightforward and less prone to dispute than percentages.
4. Better Client Experience: The goal during the sales process is to keep clients focused on the emotional and dreamlike aspects of booking you. Flat fees make it easier for them to say “yes” without getting bogged down by numbers and calculations.

Speaking from personal experience, in our photo studios – we originally used percentage based retainers. And you know what? We had success with them. As high as 50% – we’d still get bookings and had good performing businesses. We switched to flat fees for legal reasons, as well as to make it even easier for our clients to want to book with us. In our businesses, this has been an amazing move!

Setting the Right Retainer Fee

When it comes to setting the actual amount for your retainer, it’s important to strike a balance between accessibility for your clients and covering your costs.

For weddings and events, we typically recommend a flat fee of $1,000. Some photographers have gone as low as $500, but we haven’t seen much difference in booking rates between those two amounts.

For non-event sessions, like portraits, a flat fee of $200 is usually a good starting point.

One of the added benefits of a flat fee retainer is that it encourages clients to book higher packages. Since the retainer is the same regardless of the package they choose, clients may feel more comfortable going for the bigger option.

Keep in mind, these are starting points as suggestions but you can customize your fee depending on your businesses specific needs. You can absolutely charge more (or less) to make it work with your business!

Overcoming Concerns About Lower Retainers

I understand the hesitation that comes with lowering your retainer amount—especially if you rely on that upfront money to cover expenses. But over time, this strategy helps even out your cash flow across the year. You’ll still make the same amount of money, but you’ll defer some of those payments to later dates, which can actually benefit you as your bookings fill up.

Making the switch to flat fee retainers not only simplifies the booking process for your clients, but it also sets you up with a stronger, more legally sound approach to securing your income.

Final Thoughts

Using a retainer for your photography business just makes sense. If you aren’t collecting any money upfront for your services, now is a great time to review your processes and implement something like this!

Want to learn more about managing your finances for your photo business? Check out the Shoot and Thrive Financial Management Course, a part of the larger Business Suite for Photographers!