Starting a photography business is a great way for you to earn residual income while pursuing your passion. Far too often, people end up in career tracts that don’t make them feel excited each morning. They wake up, go to work, mark items off their to-do lists, participate in meetings, and count down the days left until their next paid vacation.
One of the biggest benefits of launching your own company is that you have full creative control. You’re free to make key decisions that ultimately shape your business—and life.
If you’re considering launching a photography startup, it’s safe to assume that you’ve already earned some profits and your sales demonstrate that you have a viable business opportunity in your hands. It’s natural for anyone fortunate to earn an income doing what they love to attempt to turn their passion into a business. If you want to take your photography startup to the next level, here’s what you need to know:
Consider the Pros and Cons
Like any business, there are pros and cons to getting started. The pros are obvious; you get to make money doing something you enjoy, take ownership over your schedule, decide which projects are worth the commitment, explore new destinations, and help capture the most important moments of people’s lives. On the flipside, photography equipment is expensive and many of your engagements can overlap personal weekends and compromise your work-life balance. While there are certainly ways you can set boundaries with your clients and schedules, these cons are important to consider early. Acknowledging them allows you to take preventative measures and time your official launch accurately.
Find a Niche and Test Your Market
Most professional photographers have a niche. You’d be hard pressed to find a photography portfolio that includes sports photos, like golf bags, wedding portraits, and sprawling landscapes. That’s because a great photographer understands that there’s value in picking a niche and sticking to it. If you’re just starting out, it might take some time to figure out what you want to focus on.
When you’ve set your intent on a specific niche, like wedding photography, it’s time to test your market. Let’s say you’ve decided you want to focus on food photography. Perhaps you want to hone in even closer and specialize in fine dining photography. Go out, talk to restaurant owners, and ask to photograph their dishes. Style and photograph meals in your own home, too; this way, you can add work to your portfolio and show potential clients relevant skills.
After you’ve tested your market, you’ll have a better understanding of what works for you and what doesn’t. For example, you might find that there aren’t enough fine dining restaurants in your area and that traveling to other cities for photography gigs is cutting into your profits too much. This doesn’t mean you need to quit your niche, but it does mean you’ll have to pivot and adjust your needs accordingly.
Create a Budget
The good thing about starting a photography business is that you already have some of the equipment you need. However, if you want your skills to be taken seriously, you need to re-assess the quality of your equipment and supplies. After you conduct an equipment audit, determine whether you need to upgrade your products and what the cost of those products total.
In addition to a professional camera, you’ll also need extra batteries, subscription to a video editing software program, flashes, lights, screens, lenses, quality paper, and other supplies conducive to your photo shoots.
Your budget should also include the marketing expense and other variable expenses, which change over time. This includes the cost of transportation, lodging, and props. Always keep a detailed report of your expenses to gain a high-level overview of your average spending costs—and of course, to ensure your expenses are tax deductible.
Build a Business Plan
Every business needs a business plan template, even if you’re working independently as a sole proprietorship. A business plan allows you to create a snapshot of where your business stands today and where you’re headed in the future. Surprisingly, many photographers never make a business plan; they assume that all they need to run a legitimate business is a steady flow of gigs. But the truth is, a photography business plan sets you up for success and outlines the crucial steps you’ll take to grow your startup into a truly profitable business. This document will also be helpful if you plan to take a bank loan or work with an investor later down the line.
As a creative individual, you may be deterred by the formality of a business plan, but the good thing is, you don’t need to have every section meticulously detailed. Start by checking out some business plan examples and use these as a guide. Fill in the blanks with your own story and sales data. Creating your startup dashboard might be a big helping data not to get lost with all the data. Although your plan may not be as fine-tuned as say, a retail business plan, it will include the same components as a traditional business plan.
Lastly, a business plan helps you define your company and organize your goals. It allows you to create accountability for your business and treat your startup like the professional organization that it is.
Launch a Website
Every professional needs a website to communicate their services. Your website should be cohesive with your brand. For example, if you specialize in wedding photography, your website might be designed with an elegant aesthetic coupled with a distinct and memorable domain name. Fortunately, the costs of launching an online photography portfolio is fairly low.
There are hundreds of photography themes available at Pixpa to choose from, no matter what your niche is. You can quickly build your website within a few hours without any development skills. Alternatively, you can hire a freelancer or website design agency to help make your vision come to life.
Market Your Services
Marketing plays a big role in the success of your photography business. Your target market won’t know you exist if you don’t employ tactics to help spread the word. How you spread the word will of course depend on your market, but there are some techniques you should be using regardless of your audience segment.
First and foremost, your online portfolio should always be updated to showcase your best work. Anytime you meet someone who could be a client or know a potential client, hand them your business card and encourage them to check out your work.
You should also spend some time networking and volunteering. Attend photography-related conferences and meetups, where you’ll meet new people and learn new things. Volunteering, on the other hand, can help build out your portfolio while building connections with potential future paying clients. List your information in photography directories like the Photography Directory Project and Photographers Black Book.
Lastly, don’t forget the power of social media. Promote your photography across all your social channels and boost your posts for additional exposure. Consider offering to photograph popular influencers for free in exchange for a shoutout.
Sell Unused Photos Online
In between gigs, spend some time going out, getting inspired, and shooting new things. You can sell any unused photos online through various platforms, and the more sales you make on those platforms, the more you’ll help build awareness around your work. Options include Shutterstock, Envato, Adobe Stock, Fotolio, Corbis, 123RF, and many more. There are also websites dedicated exclusively to selling photos for Instagram, like, Instaprints or Foap.
The good thing about selling photos online is that pretty much anything goes. Candid photos of people, animals, daily commutes, tools, technology, office life, nature—if you can photograph, chances are there’s someone who could use it on their website. Modern small businesses and website owners want their businesses to appear natural and humanized; run-of-mill stock photography isn’t as common as it once was.
Launching a photography business is no easy task. Just like other creative businesses, it takes hard work, vision, and dedication to persevere. You don’t have to assign yourself the “starving artist” trope; you can run a lucrative business doing what you love. With a business plan, the right equipment, a budget, and concrete goals, you’re well on your way to success.
