If you’re looking for a second income and have some photography chops, then maybe creating a photography business might solve your problems.
You’re not alone if you want to turn your creativity into a business venture. All love photography, and having it not just as a hobby but also as a source of income is a dream for most of us. If you’re seriously considering it now, we may help you with that.
For a photography business, there are a lot of things that you have to do. Yes, it’s fun, but the business side of it might be overwhelming for you, which is probably why you’re here reading this article. To help you find your business photography foothold, we’ll share some advice and insights on how to start your own photography business.
A Business Plan
Of course, how could you start a business without a plan or, more specifically, a business plan? Any serious photography business owner you turn to for advice would ask you for one. But what is it exactly, and what purpose does it serve? Well, think of it as your roadmap. In this roadmap, you start by describing what your business is all about and then how it will grow in the future. It also breaks down things such as cash flow, expenses, competition, and ownership.
Remember, without a business plan, you’ll be more prone to bad decisions, which is very bad if you have a lot of competition in your area. A good business plan would also be a good tool if you’re looking for some investors, but that’s another topic for another day. Let’s move on.
Assess Your Startup Cost
You’re mistaken if you think all you need is a camera and some tools. There are a lot more expenses that you need to spend if you want to start a photography business. To start, you need to assess the essentials you need for your business. Of course, the first would be the right cameras and other gadgets related to photography.
Camera equipment alone can cost at least $10,000 upwards. After that, you’ll have to spend on a license, insurance, a website, and accounting software. And, of course, you need to have your base of operations, which is, for some, the next most expensive thing after the camera equipment. Sure, you can turn your garage or backyard into a makeshift studio, but if you want to look professional, you might want to look into rental properties and figure out the cost.
Build Your Brand
If you work with people personally, then you’re your brand. With that in mind, every little thing you do, especially on social media, can affect your branding and reputation. Remember, most startup photography businesses gain clients through word of mouth. Not only that, but you could also get referrals from studios to find a good venue for a shoot like the Smoked Garage.
That said, if you go for a shoot, remember to always look professional. Dress appropriately, iron your shirt, and always be organized. Also, always arrive on time. That’s a red flag for a lot of people. Always ensure you understand how the schedule goes and how the day will flow. Give them a timetable for the final product, and, of course, never break any promises to your clients.
Pricing
Now this one is a difficult one for a lot of people, especially for startups. If you have a friend who also has a photography business or just someone who knows about the industry, you can ask them for advice on how to price your shoots. But a good rule of thumb here is that you should never price work that will lose you money or at least below minimum wage. You can even look into your competitors on how they charge their work.
Generally, you’ll want to estimate that there are 3 hours of editing time for every 1 hour of a shoot. Some photographers price their hours at $50 to cover the standard costs. Also, remember to consider the travel time and preparation time. They are a part of your job as a photographer, so your client should also pay for them.
Invest in a Website
Once you’ve come up with a name, the final thing that you need to have is a website. For some people, this can be trivial, but you wouldn’t know how a nice website can set you up with many gigs. Of course, for your website to be effective, your aim should be to impress your clients, so if you have the budget, you can have a professional create your photography website. Of course, the website should showcase your work and your contact details. It’s also a good idea to list some of your prices on the website.
Final Words
A photography business is just a dream for some. After all, many people think that a business based on your hobbies is an impossible dream, but this one is different. There are a lot of photography businesses nowadays, and it’s inspiring that they have the guts to turn their passion into a business. If you’re the same, you might want to follow the tips we gave you above.