 Heather Beauchamp |
Opening my own Studio! I have heard a lot of good things about this site, and this is my first post. I have been photographing weddings and portraits for a year, and I have decided to rent some space to set up shop! I have 3-4 weeks before I move in, so I am busy ordering all my sets and backgrounds. The deeper I get into this, I find more questions I need the answers to. I was wondering if anyone had any advice for me. I'm mostly wondering about marketing, and pricing for prints. Just info in general, or tips for doing good business. Anything would be appreciated...Thank You! heather
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Mark Feldstein |
My strongest suggestion is to run your studio like a business rather than an extension of your hobby. For that, you should have some college level courses in business administration or particularly business law which includes contracts; fundamental accounting practices even if you have an accountant; be familiar with licensing and registration of small businesses in your county; know that when you do register you'll be innundated with inquiries and forms from the various state and local governments including the state and county tax collectors; don't forget about business property and liability insurance in case a lamp explodes in someone's face, someone trips and falls on an extension cord and fractures their wrist, any of your equipment gets stolen or the place burns down. Oh, and model releases, association dues, a business plan that includes marketing and the various budgets that go along with those aspects of the plan(s); and oh, did I mention insurance??? Now once you calculate all those items, add your rent and utilities, expendables, backdrops, clothes pins, etc., then figure out what your actual time is worth per hour, include depreciation on a quarterly basis for your equipment and the cost of supplies, and THEN you should be able to figure out the cost of your time, prints, shoot fees, and whether you should have picked a different business to go into. And you thought this was going to be all fun and poses, right? LOL !!! Not exactly. But after this exercise, you should have a handle on why professional photographers charge what we do for what we do. Lastly, remember your reputation is your most valuable asset and you're only as good as your most recent gig. Lotta luck !! P.s. You should get the appropriate forms and pamphlets from the IRS so you know exactly what's expected of you as a small business owner. Photographers are one of the most commonly audited groups of professionals.
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Mark Feldstein |
There's a thread below called something like "lost faith" by a gal named Bobbi. I highly recommend you read it along with the responses she received. M.
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Heather Beauchamp |
Mark... Thank you so much for the advice. I read the entire thread, and I feel for Bobbi. I hope she finds a way to break into the business in a big way in her community. I know that I am taking a risk, especially in buying all this equipment and sets. I just finished a book on the business, and my mom is a tax accountant, and she's helping me with the really icky parts. I think the best advice I have gotten so far is about marketing yourself and your product. I have thought about what I will do if I fail...and it's not an appealing idea. But I am going to stay postive, and do my best...I will keep posting along the way, and hopefully share a great story! Thanks again... Heather B.
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