If so, do you know where to start?
A photography business can offer a great opportunity to those who have a keen eye and artistic flair. It’s a type of business that doesn’t require sophisticated equipment or a formal degree.
Does that mean it’s easy?
Well, before we answer this question, you need to know what it takes to become an excellent photographer.
Here’s how to start a photography business and turn your talent into a reliable source of income.
Differentiate Yourself from the Competitors
Did you know that there are over 147,300 professional photographers in the US today?
That’s a huge number, right? How can you become an outstanding photographer?
You can differentiate yourself from the competition by focusing on the type of photography you’re good in or the untapped segment of the market.
Develop a Business Plan
Your business plan should outline the details of your photography business. This includes the market niche you’ll focus on, financial projections, marketing strategies, and how you’ll stand out from rivals.
Your business plan should also outline your pricing structure.
When developing the pricing structure, you should take into account the cost of equipment, your time, travel costs, and all the supplies.
Choose the Right Business Structure
Consult your attorney or an experienced photographer to determine if your business should be classified as a limited liability company, C corporation, S corporation, sole proprietor, or single member LLC.
The most cost-effective option is a sole proprietorship. However, a Limited Liability Company will offer you protection if you encounter legal problems.
Create a Memorable Business Name
The name you give your photography studio will eventually become your brand image. Therefore, you should choose a unique name that fits the type of services you offer.
If your business focuses on kid portraits or pet photos, for example, you should come up with a whimsical or playful name.
If you want to focus on business pictures or wedding portraits and photographs, it’s advisable to choose a business name that speaks of elegance and professionalism.
You should also ensure the name is unique, memorable, and isn’t protected by trademark.
Once you have a business plan, a business name, and structure, it’s time to get business licenses or permits. When you have all the licenses, you can open a bank account.
Never run your business using a personal account; this will help you avoid accounting issues. You’ll also be able to track your income and expenses conveniently.
Gather Equipment and Supplies
With all the permits required, you can now gather the necessary equipment and supplies.
Along with a camera, you’ll also need flashes, batteries, lenses, and editing software. You’ll also need screens and lights to control the lighting in your home studio.
Launch the Business and Start Marketing
Now that everything is ready, you can launch your business and start marketing your skills. Use business cards, brochures, and your website to spread the word about your business.
Your website should have a unique and smart layout. A well-designed site will make marketing easy and give you an opportunity to show off your photography and camera skills. You can check out this example of a photographer website for inspiration.
Your personal and professional networks could also help to boost your brand awareness.
Final Thoughts on How to Start a Photography Business
Setting up a photography business is not easy. It can be stressful, confusing, and overwhelming. But don’t fret.
Make sure you follow the tips we’ve shared on how to start a photography business. They’ll help you make the right decisions and avoid the mistakes that most beginners make.
Remember to check out our blog for more business tips and other helpful articles.