February 21, 2008, 9:43 am
Can I make money collecting oral histories?
Elaine asked FSB about figuring hourly costs for her oral history business. Do you own a similar business? How do you determine the cost for your services?
CNNMoney.com Comment Policy: CNNMoney.com encourages you to add a comment to this discussion. You may not post any unlawful, threatening, libelous, defamatory, obscene, pornographic or other material that would violate the law. Please note that CNNMoney.com may edit comments for clarity or to keep out questionable or off-topic material. All comments should be relevant to the post and remain respectful of other authors and commenters. By submitting your comment, you hereby give CNNMoney.com the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying information via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNNMoney.com Privacy Statement.
I have been a home historian for Historical Insights for nearly 4 years now, and learned a lot along the way. First, everyone undervalues their work to start. Sure, it's a way to get business at first, but you'll do yourself a service if you give a real time-accounting for not just the work you do but the value clients gain. Second, provide firm pricing. I use a building block system in which people select various components of a home history research project (e.g., building permits, owner research, renter research, historical maps, photo archives, etc.). That way, they know what they're getting and what they're paying without me telling them that their history HAS to be XXXX dollars. Generally, homeowners choose histories ranging from $500 to $1500, while the business arm of the market (e.g., realtors) pay $300 to $600. Finally, I would suggest considerable allowances for end-product finishing. I find that the research is only about 35% of a project. The rest is crafting an interesting story in an attractive format. Since this is what the client sees, it's monumentally important that this be done right. And yet, sinking too much time in this area can be a killer.
If you'd like more information, feel free to contact me directly at the Historical Insights Inc website. Best of luck!