If you are thinking about starting a photography business, then first of all congratulations you have made a good decision but you have probably got a lot of questions in your mind.
What are the pros and cons of the photography business? Is this career worth the work? How much money can you make? What equipments you need? Should you specialize in a specific type of photography? How can you run it successfully to get clients? There are lot of aspects to cover and things to consider.
If you love taking pictures and you are willing to start it as a career then it is possible to earn a good out of your passion. In this article, we will help you go through how to start a photography business step-by-step.
Advantages & Disadvantages
5 Advantages of Starting a Photography Business
1. Make Money from Your Fascination
If you choose to start a photography business, you will have the opportunity to spend a lot of your time doing the thing you are passionate for i.e. taking photographs.
2. Find Meaning in Your Work
Photographers; job is to capture and save special moments forever with their clients. Whether the subject is family portraits ,nature, sports, weddings, or etc, photographers will find much meaning in their work.
3. Meeting New People
If you are a social bee then this job is fun. Whether you meet people at studio, wedding or on location while taking wildlife images, photography can be a good way to meet lots of new people daily. Most studios even have active meet up groups, where they meet regularly to socialize.
Unlike a traditional nine-to-five job, running a photography business can provide a lot of flexibility in work as you are in complete control of your work schedule. This makes it easier for you to prioritize your work and personal life balance like childcare, vacations, and time.
5. Travel Opportunities
Are you the person loves to travel and experience new places every now and then? Traveling is a regular part of photographers work.
5 Disadvantages of Starting a Photography Business
1. Expensive Equipment
Photography business needs equipments that need investment. Depending on which equipment you already have, it can be costly to purchase everything from start if you need to start a photography business.
2. Fickle Customers
Some clients can be difficult to handle or drain your energy. Also, some events can be burdenized and bring out the worst of people. Example, if you decide to cover weddings, you may come across the wedding “bridezilla.”
3. Unsociable Working Hours
Where time flexibility is there, but in many photography events happen out of normal working hours like during the evenings and weekends.
4. Inconsistent Income
Any small business does not promise consistent income, and it takes time to build a regular flow of income and work. In starting, you will likely experience dips and surges in your income.
5. Passion can be Spoiled
As we know, business and hobbies differ in many ways. Converting your hobby into a business can take the fun out of it, and photography could end up feeling like pressurized and tedious work.
The planning stages
1. Write a photography business plan
Any entrepreneur will guide you that you need to organize your thoughts on paper. This detailed document will describe your roadmap, what your business is and how it will be successful. It also breaks down items like expenses, cash flow, investors, and competitors.
2. Assess your photography business startup costs
As part of photography business planning process, you will also need to calculate your startup costs. What are the essentials that you will be needing before you can formally and officially launch your business?
Also, do you plan to start with a particular studio space or work from home? If you need dedicated space, then investigate rental properties and figure out the expenses accordingly.
3. Secure startup funds
You may not need to borrow money from your circle if you have enough money in the bank account to start your business successfully. But many entrepreneurs need financial assistance. People who are starting a business for the first time initially ask for financial aid.
4. Buy photographic gear
When it comes to the camera or photographic gear, you will need two cameras, two flashes, two high-quality lenses, and Photoshop and Lightroom for editing the images.
5. Create your own brand
You need to create brand of yourself apart from others. Start by identifying your passion and target market. Do you prefer to do wedding shots? Newborns? Senior portraits for high wildlife photography?
You will have ups and downs with any new start-up business, but if you are passionate about your work to give each customer a great and new experience, you will definitely gain a solid reputation as a go-to photographer of people.