If you had $10,000 to spend on essential items for a start up project...

[dearlybeloved]

What are some of the important things you would need?

I have $10,000 to start my own business and want to make sure I'm investing in the right things. I gravitate towards landscape and portraits so I need to figure out how to spend the money responsibly and on things I will Need. I'm just starting out so an $1600 Nikon 85mm 1.4 is out of my budget. I already own a Nikon D800e, Nikon sb700, a quality tripod a few budget lenses and will be receiving a Nikon 16-35mm f/4, a Nikon 24-70mm f/2.8, Nikon 70-200 f/2.8 and a Nikon 85mm f1.4 shortly.

So other than the camera and those lenses, what are some things I should look into? trigger, studio lights (portable lights?), filters, other lenses, etc.

Also, if you have any advice or non equipment related things I should understand then I'd be happy to hear them.

Thanks

 

[SCraig]

Not trying to be a smartass but do you have the knowledge and abilities to compete in that market? Landscapes are not something I see a huge market for and, while I admittedly don't know much about Auburn, the portrait market around here is absolutely bloated with people who have no clue what they are doing.

If your answer to that is "No" then perhaps spending a bit of it on education to improve that knowledge would help.

 

[dbvirago]

Business plan?

 

[Designer]

Studio stobes, light stands, light modifiers, backdrops, (do you already have a laptop?) website, local advertising, (do you already have studio space?) If not, then at least 6 months rent, or preferably one year's rent set aside.

 

[EIngerson]

Business plan?

^^^^^

 

[412 Burgh]

a need for your services.

 

[dearlybeloved]

Not trying to be a smartass but do you have the knowledge and abilities to compete in that market? Landscapes are not something I see a huge market for and, while I admittedly don't know much about Auburn, the portrait market around here is absolutely bloated with people who have no clue what they are doing.

If your answer to that is "No" then perhaps spending a bit of it on education to improve that knowledge would help.

I've got a a lot of knowledge and a lot of determination to continue growing but I wouldnt call myself a professional photographer. This all comes in time and now is my chance to start so I'm taking it.

 

[dearlybeloved]

Business plan?

I've been spending a lot of time on my business plan and trying to understand the different markets that remain untapped in my area. I'm going to do a lot of commercial and portraits for most of the income and use my free time to take landscapes and my own stuff for prints.

Studio stobes, light stands, light modifiers, backdrops, (do you already have a laptop?) website, local advertising, (do you already have studio space?) If not, then at least 6 months rent, or preferably one year's rent set aside.

I have a laptop and a powerhouse desktop that can handle anything i throw at it. I dont have to much of a studio space because I'm using an extra bedroom for that. I will need backdrops and such too.

 

[pgriz]

A cornerstone of a good business plan is a detailed analysis of the market. What is the nature of the commercial market in your area? Who are the buyers? Who are the competitors? At your present skill level and equipment, what segment could you be competing in? What is the "going rate" for that segment? How many sales do you need to make at that price level to break even? What conversion rate (prospects to customers) are you assuming? Given the assumed conversion rate, how many pospects do you need to see to break even? What is your marketing/sales plan to ensure that you see at least that number of prospects?

Etc.

As for "untapped" markets - there are different ways to looking at this. The most optimistic way is to see the "untapped" market as virgin territory - no-one tried to do it in your area. The most pessimistic is that it is "untapped" because there is no money to be made in this segment, and it is a fool's errand to try to do so. If previous attempts failed, it may be very instructive to understand why.

 

[Ballistics]

Honestly, I gotta disagree with almost your entire post pgriz. In order to have a successful business plan, you don't need to know most of those things.
And a lot of those things are impossible to quantify. The only thing that I actually agree on is that you need to know how much you need to make in order to break even.

That may be the way to do things as a large corporation with money to spend on research and development, but as a small time photographer? Not so much.

The rest of that stuff comes from a lot of time. Like, years.

I don't know why when people mention things like starting their own business, members flock to try and scare the OP out of it.

OP - You're going to definitely need ND filters for landscapes. Both graduated and solid. Probably around $800 worth to be safe.

 

[MK3Brent]

I'd get a D3x ($4k), 14-24 ($1,600), 24-70 ($1,400), 70-200 ($2,000), then $1,000 on lights. Speedlights and wireless triggers.

 

[Ballistics]

I'd get a D3x ($4k), 14-24 ($1,600), 24-70 ($1,400), 70-200 ($2,000), then $1,000 on lights. Speedlights and wireless triggers.

He mentions this.

I already own a Nikon D800e, Nikon sb700, a quality tripod a few budget lenses and will be receiving a Nikon 16-35mm f/4, a Nikon 24-70mm f/2.8, Nikon 70-200 f/2.8 and a Nikon 85mm f1.4 shortly.

 

[MK3Brent]

I'd get a D3x ($4k), 14-24 ($1,600), 24-70 ($1,400), 70-200 ($2,000), then $1,000 on lights. Speedlights and wireless triggers.

He mentions this.

I already own a Nikon D800e, Nikon sb700, a quality tripod a few budget lenses and will be receiving a Nikon 16-35mm f/4, a Nikon 24-70mm f/2.8, Nikon 70-200 f/2.8 and a Nikon 85mm f1.4 shortly.

Yeah, but he asked what I'd buy.
And that's what I'd buy.

 

[KmH]

Yes, you will need lighting, grip, triggers, light stands, a selection of light modifiers, and other hardware.
Since you will be doing both retail and commercial work you will need both studio lighting and portable lighting.

Do you have studio space available?

The retail part - portraits- and the commercial part, have different business models.
Pricing is different.
Contracts are different.
Delivery requirements are different.
Commercial involves a lot more paper work.

Retail pricing is entirely based on personal use.
Commercial pricing is based on usage. Usage is usually billed separately from what is charged for the photographers time, talent, and reputation.
Usage is broken down by exclusive or non-exclusive use, geographical area of the usage, image size(s) used, number of impressions, media types used, usage length of time, etc.
Case Study: Producing A Successful Estimate | DigitalPhotoPro.com

Best Business Practices for Photographers, Second Edition
ASMP Professional Business Practices in Photography

The Photographer's Guide to Negotiating

 

[dearlybeloved]

Honestly, I gotta disagree with almost your entire post pgriz. In order to have a successful business plan, you don't need to know most of those things.
And a lot of those things are impossible to quantify. The only thing that I actually agree on is that you need to know how much you need to make in order to break even.

That may be the way to do things as a large corporation with money to spend on research and development, but as a small time photographer? Not so much.

The rest of that stuff comes from a lot of time. Like, years.

I don't know why when people mention things like starting their own business, members flock to try and scare the OP out of it.

OP - You're going to definitely need ND filters for landscapes. Both graduated and solid. Probably around $800 worth to be safe.

I was looking at some ND filters and I honestly want to check out using square filters. I just dont have access to them where I live to check them out so I would be buying blindly. any thoughts on square filters? glass or high quality resin?


Also, this is me starting because I dont have many bills, I live rent free and have a good start to make an investment and make it grow. I dont know everything and I dont think I need to know everything right now because I'm still enjoying it and starting out. lol. I will be running this out of my house and will have access to a little more room than I anticipated. I dont know ANYTHING about studio lighting or what I'm going to need. I learn best by buying, playing and figuring it out on my own and since I have the time to do it I will start now.

thanks for the responses guys.