What you need to do first is a CODB so that you have a firm idea of what you will need to charge so that you make an actual profit. Generally 30% over cost is a good starting point.
I have a few questions about your pricing structure. You quote a half day and day rate. Typically that type of pricing is for commercial shoots, products, food etc. Or for editorial shoots where the images are used for publication, then again usage comes into play.
So what you really should be looking at is the base time involved for commercial vs portrait. If you want a flat fee for portraits use the creative fee method and then price the prints accordingly. BTW your print prices are dirt cheap, by anyones standard.
If you want to break down the pricing structure list a commercial page and a portrait page.
If you think about it, the creative fee + print prices is the way to go for portraits.
Lets say for example that you think that the shoot will take 3 hours. If you limit your self to your half day rate of 4 hours you get $200 + the price of the prints. But the PS time, editing, and such are not accounted for, so a 3 hour shoot becomes a 10 or 12 hour work day. Then your pricing for prints will fail to make up for that.
So try this;
Creative fee (not to exceed 4 hours) $350.00 Creative fee over 4 hours is $650
- No 4x6 prints
- 5x $15
- 8x $25
- 11x $40
and so on, no CD with raw images, no transfer of rights or commercial usage.
without permission (and further fees).
Travel and expenses are at market rates +30%. Extra computer time is billed at $100.00 per hour etc.