Highest Return On Investment For New Equipment

Discussion in 'General Shop Talk' started by LarissaPhotography, Jun 21, 2010.

  1. LarissaPhotography

    LarissaPhotography TPF Noob!

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    What piece of equipment would you guys say has brought you the most new business?

    For us, we do a self-assessment after getting new equipment to see if it really makes our photography noticably better and adjust prices according to how big of a difference there is in the pictures.

    Any equipment other than camera stuff that has made a big difference for you guys?
     
  2. ghache

    ghache TPF Noob!

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    do you own a studio?
     
  3. Big Mike

    Big Mike I am Big, I am Mike Staff Member Supporting Member

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    I don't know that any 'piece of equipment' really brings you new business. :scratch: And it seems to be a weird way of looking at it.

    Sure, you can evaluate how different equipment might affect your images, either in quality or style...and that may affect the customers you get...but it still seems to be the wrong way to look at things.
    You could spend $10,000 on new lenses and cameras, and it might not bring you any more business at all. But on the other hand, if you have a client/jig that requires a specific piece of gear, then it might be worth it and might lead to more similar work...but unless you know the requirements before hand, and then go after a specific group of potential clients, it would seem to me that you should buy the gear only when you need it for the job at hand....otherwise you may end up with a bunch of gear you might never use.

    If you are looking for simple a return on investment, then I'd think that your money would be better spent on advertising/marketing/promotion or education.
     
  4. Petraio Prime

    Petraio Prime TPF Noob!

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    I don't see how you can even think this way. It depends on what your assignments are. You might use something rarely, but find it indispensable on those occasions.
     
  5. Christie Photo

    Christie Photo No longer a newbie, moving up!

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    Well, I don't think it's brought me any new business, but when I think about the "Highest Return On Investment For New Equipment," I'd have to say keeping the computers up to date has made a big difference here. Things were getting pretty bogged down and a computer update really saved some time.

    Since I mostly do commercial work, adding gear over the years (cameras/lenses/lighting) has opened some doors and help keep current customers satisfied. But when I think about "other than camera stuff," I'd say changing backgrounds and propping MIGHT have brought some new consumer business. And I suspect anything I do to freshen up the studio probably helps. Definitely a decent website made a difference.

    -Pete
     
  6. gsgary

    gsgary Been spending a lot of time on here!

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    Dye sub printer for printing on site paid for it's self in no time
     
  7. c.cloudwalker

    c.cloudwalker TPF Noob!

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    Getting my brain re-aligned.

    There is not a single piece of gear that brought more business than any other. But when when I fried my brain, it sure didn't help. My clients didn't seem to notice but I knew that they would eventually and I got out of the business.

    Now that my brain is a-ok, fresh and ready to be creative again, I am getting back in the business.

    By the way, I never bought a piece of gear unless it got paid by the job it was bought for. Or, at the very least the next two jobs. And it had to be a sure thing. Anything else got rented.
     
  8. LarissaPhotography

    LarissaPhotography TPF Noob!

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    thanks for all the input here guys - I guess for me, I'm just looking for a way to make sure we're not spending on equipment that we don't need, but also that we're not missing out on stuff that would really help push the business to the next level
    good stuff here
     

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