Your concept is spot on, you could have used better references though.
I agree with cdifoto, IMO, the questions on here about the price of doing a job are that people really wanting to know. The reality is, what they think should be $50, should actually be $500, most seemingly cannot justify charging that much because they don't see themselves as a business person, they see it as composing a shot and pressing the button. "How can I charge that when that is all I do?" Most who turn their hobby into a business soon realize this, or they go bust.
I personally don't use photography as my sole source of income (my field is construction and estimating), but I do have a side business because I enjoy taking photos. I also recognize that the equipment we use is expensive and I want some reimbursement and to top it off, there are actual primary income photographers in my town who can do without Johnny Walkaround selling off images for pennies on the dollar. Just like my construction world, when a cheap ass contractor comes into my town and slashes his price to get in the door, everyone notices and what effectively happens is, they destroy established markets with low low margins, because now everyone wants to pay 250,000 less for the same job.
Now the new market with lower margin is established thanks to him. Just like "professional" photography. Photography is such an easy activity. There is no accountability for art. You don't see a bricklayer asking what a job costs because there is an accountability for a failed deliverable service. Any rational sane person wouldn't take on a brick laying job (apart from your own BBQ maybe), because they know they cannot get away with it. If someone asks an amateur photographer to take their family photos because they have seen an example of their pet dog or a setting sunset on FB or Flickr, the collateral damage from failure is low. We justify it in our head that if the new client likes what we do, we're on the right track, OR, if we fail miserably, maybe I'm not as good as I thought, OR, what the hell do they know, I'm the photographer. The verdict is, we'll use our car to get to the job, with our new camera, snap some shots, edit them in a program, hand them over, just to hear "awesome photos, I'll be sure to tell my friends how good you are", with a big ole smile, or a credit line in some local/regional magazine, without a single consideration of just how much it cost. Until one day, when we string a couple of little jobs together and realize that Im spending more money to put a smile on my/or my customers face, than I'm making.
And then the line in the sand is drawn. That's when $50 will turn into $500