Did you know that it’s cheaper to buy a house than rent a hotel room?
A mid-range Toronto hotel room might be $160/night. That works out to $4,800 per month which is much higher than the average monthly mortgage payment on a house in Toronto. But since a customer needs a hotel room for only a short time, that $160 nightly room rental is 3,000 times cheaper than the average $480,000 house.
Need to drive somewhere? Renting a car for $30/day is about 600 times cheaper than purchasing the same car.
Like to play golf occasionally? Renting a $40 set of golf clubs is about 20 times cheaper than buying a similar set of clubs. Renting an electric golf car for $30 per round of golf is 100 times cheaper than purchasing the same vehicle.
Go bowling sometimes? Renting shoes for $3.75 is ten times cheaper than buying a pair of bowling shoes.
Similarly, if a company needs photos for only a limited time or limited usage, then licensing pictures from a professional photographer is always much less expensive than the full purchase of those pictures.
As is the common and accepted practice of all businesses worldwide, the cost to purchase an item is at least one or two orders of magnitude higher than the corresponding rental or licensing fee. Photography is no exception.
