How to make money with your camera

[Big Mike]

I often see people asking about how they can make money with their camera. Well, I came across an interesting add in my local 'Bargain Finder' today. Someone has a new 40D, and is offering it for rent for $110 per day. Their justification for this, was that the local chain store will rent out a 20D for $100 per day.

I'll give him points for being creative, but I doubt it will work.

 

[sabbath999]

Hrmmm...

You know, that actually has possibilities. I think you are right, as a person he will both have to deeply discount it over a shop, and have a way to secure his asset, but there might be something to this.

 

[Big Mike]

I don't know any more about this, than what I've already said...but I get the impression that it's a fairly young person who went above their means to purchase the camera...and they are trying desperately to pay it off.

It crosses my mind that they probably don't have a solid rental agreement...so someone could probably take their camera and walk away with it. I also doubt that they have a licence to do business in this way.

 

[Mesoam]

interesting idea but thats pretty steep...i bet if they did around 50 a day and put an opportunity like that in a touristy area it would take off

 

[sabbath999]

I don't know any more about this, than what I've already said...but I get the impression that it's a fairly young person who went above their means to purchase the camera...and they are trying desperately to pay it off.

It crosses my mind that they probably don't have a solid rental agreement...so someone could probably take their camera and walk away with it. I also doubt that they have a licence to do business in this way.

I am sure you have the right of it.

STRICTLY a personal opinion here: things like cameras (non-commercial) should only be purchased with cash... if you can't pay for it, then you can't AFFORD it. I have yet to see somebody get into financial difficulty with well considered purchases that were made with cash.

 

[Big Mike]

STRICTLY a personal opinion here: things like cameras (non-commercial) should only be purchased with cash... if you can't pay for it, then you can't AFFORD it. I have yet to see somebody get into financial difficulty with well considered purchases that were made with cash.

I completely agree....but easier said than done. Our economy seems to run on credit...which is one of the main problems with it.

 

[phakimata]

Renting equipment is a 'goldmine'. Actually, most fashion Photogs prefer to rent equipment so they don't have to drag their own around for where ever they go. Just make sure you have some sort of a contract in place that whenever someone returns the equipment broken, that the renter is liable. You may want to check out this site to get some ideas: http://www.adoramarentals.com/ They rent out equipment.

Good luck....

 

[Mike_E]

Or, you could place an ad something like this: Camera for rent. $XXX per day. Comes with it's own photographer.

 

[castrol]

I rented my D70 to a friend of mine for her daughters Quincinera or however
that is spelled. I didn't kill her with the price, and she knew she had to replace
it if broken, but it worked out nicely.

 

[RyanLilly]

I completely agree....but easier said than done. Our economy seems to run on credit...which is one of the main problems with it.

I usually make big purchases on a credit card, but only if I have the cash in my bank account so I can rack up a huge balance on my card then pay it off right away. Good for the credit score.

As far as rentals, I could see wedding photogs renting backup equipment, Especially I they had to travel for a shoot. Actually there is a huge industry an renting theatrical lighting, and a fair amount of rental business for Pro Video and motion film cameras.

 

[S2K1]

I am sure you have the right of it.

STRICTLY a personal opinion here: things like cameras (non-commercial) should only be purchased with cash... if you can't pay for it, then you can't AFFORD it. I have yet to see somebody get into financial difficulty with well considered purchases that were made with cash.

Someone I know had to sell their car to pay for the loan for the camera equipment they purchased.

 

[RacePhoto]

Someone I know had to sell their car to pay for the loan for the camera equipment they purchased.

How does that work? My camera and lenses are worth more than my car! Actually twice the value of the car.

 

[Alex_B]

How does that work? My camera and lenses are worth more than my car! Actually twice the value of the car.

My current car costs 100 times more than my first car when I sold it second hand
... so there are cars which are cheap and cars which are expensive! :lmao:


just kidding.

 

[Akh608]

you, my friend, either have one hell of a camera or one hell of a car... lol

 

[nossie]

When I finally get my own place of business for programming / photo studio I hope to grow into renting gear. I haven't done much research on it but one place I asked about the 70-200L IS 2.8 as a try before you buy said that they charge €50 per day.

STRICTLY a personal opinion here: things like cameras (non-commercial) should only be purchased with cash... if you can't pay for it, then you can't AFFORD it.

You did write non-commercial but anyway I try to get these things (PCs, scanners, camera gear) to pay for themselves. I hope to get the 1DS markIII when it comes out but I will be getting it on some kind of loan/leasing agreement. The reasoning is that I won't have to drop $8000 in one go but more like $250 every month for 3 years - If the camera takes in more than $250 every month then it's paying for itself and it's paying me for working smarter. I'm never out of pocket.

How does that work? My camera and lenses are worth more than my car! Actually twice the value of the car.

hehe mine is worth about 10x my car.