Years back, photography as a profession was not very much popular. But now, people realize their dreams and take their hobby to become their profession. It is a truly exciting stage to begin the career as a professional photographer. But with so much competition in the field currently, several amateurs start it off with all enthusiasm but lose the game eventually. Mistakes can work its way to help come up in a better manner, but without proper planning any business can flop.
Below is a list of 10 top concerns to be looked into while starting a photography business. These tips can prove useful in the planning stage of setting up a new business, renovating plans for expanding a photography business and even for businesses that are facing a crisis stage and looking to overcome it. The competition is too tough as everyone who has a flair for photographic creativity are into the career. The lowered price of equipment can also be contributed to this spike in the business field. But this competition should not put you down as proper planning and hard work can help you make your name in the business of photography.
1. Working out the Goal List
To attain success in life, you should always set your goals. This goal has to be set high and then hard work has to be put in to achieve the goal. The first thing is have an idea about the kind of client you will be taking up. Most photography entrepreneurs consider it as a golden note to accept all offers that come their way. One has to be very specific about choosing the project that will fit one’s time schedule and convenience. With all projects taken, the goal will not be able to be reached to keep up with the quality standards.
2. Know Your Specialization
There are several classifications within the photography field. Common photographers who take up all kinds of works are not currently preferred as they do not specialize in a certain kind. You can charge less and thus gather work experience for your portfolio website. If you are not able to decide your specialization, you can take up some jobs and this will help you realize your specialization based on the review you receive from customers.
3. Preparing the Plan
Any kind of business will begin with a business plan. This planning has to be done on paper and not just in the mind. The structure of the business and the type of the business will have to be decided to get the company registered legally. This will help you define the tax liability, investment structure and similar start up details. You can even use a business plan template to get started on the track. The decision on whether your love for photography is going to become a part time income source or a full time successful business has to be decided before jumping into action.
4. Market Evaluation
The analysis of the current market trends can help you understand the requirement that people have from the business. Check the industry growth rate for your specific area. Sometimes you will be able to come across specific needs of the customers which are not being met when related to your demographic area and they have to search for businesses outside the area. This will prove as the catching point for your business goal. You can even make a note of competition expected, market share percentage, and other related data. These data has to be used to set the advertisement goals including the marketing budget.
5. Setting Financial Needs
The main investment will be on the photography equipments. If you need to have a reputed and great start to your photography business then you will have to get the best and the right kind of equipment. A budget allocation with the help of a financial accountant will help to lay down the initial costs, legal charges for setting up business, insurances, website building, software, computer for editing, office space or studio and need for assistant. The source for the finances will also have to be laid out. You can resort to a business loan or find a third party investment.
6. Marketing and Pricing Plan
The marketing strategy has to be laid down like the means of promoting the business. A blog, website, Facebook page and other social media interaction can make way for your web presence and promoting the business can be started from here. Set down the offers and services that will be available to the customers and also the catch factors. The financial accountant can be of some help in deciding the pricing of the services. The previous market analysis and the financial set up plan will help in this regard. The hours of work that go into a service can be used as the calculating amount for the pricing.
7. Legalizing the business
Legalizing the business and placing all agreements and contracts is very essential to prevent any later disputes. Begin by registering the business name. Come up with a catchy and easy name and make sure you block the domain name for the website before legal registration. You can now use this name for your social media accounts. The next step is to open the business bank account and register for insurances and licensing. All kinds of agreements relating to product delivery, usage of photos, album design etc will have to legalize to prevent any conflicts with the customer later.
8. Buy all the Necessary Stuffs to Get Started
Once the basic plan to start off is laid down, then you can get your gears and move on with your business. The photography equipments like camera, the back up camera, lenses, flashes, batteries and charger will form the photography gear which will help you get started in your way. Then when it comes to editing you will need the software, computer, calibration device, basic computer programs, storage devices and access to print labs. For any business, it has become a necessity to have a website to gain customer confidence and gain more clients.
9. Create your Portfolio Website
Your portfolio website will speak on your behalf to your customer. It is the collection of your best photographs that will let the potential customers know your skill in photography. Make a proper classification according to the different kinds and place the photos in categories. Do not crowd the portfolio. If you do not have a collection for your portfolio website, invest some time and effort into creating some classy and catchy ones that will gain you customers.
10. Client Building and Learning Along the Way
Now you have your portfolio website to speak on your behalf about your skills. Finding clients to have a look at your skills and convincing them to hire you is the challenge. The first few clients will be your foothold to get into the industry. They will work like your evangelists. Treat every client with care and they will bring you more referrals. Keep a good rapt with your customers and make them feel at ease with your business.
These are the main points that one has to follow to step foot into photography business. It is not wise to pick up your usual camera and jump into the industry. Proper planning and analysis will help you bloom your ideas into reality.