How many of you would rent studio space? And what would you be willing to pay?

[benhasajeep]

I have been approached by several people that know me in town. And they suggested I open a studio. And I keep shying away from that since I really don't want to do it full time. Well my wife was thinking in the same line. But instead of us runing it all the time as a single operator studio. Have it available for rental for other photographers (pro and personal use). My first thinking is I really don't want to rent out my equipment. But, quite a few people say they just need propper space and things like supports and tracks.

Well just the other day a very good space became available at an attractive cost. There is 1 other place that I know that will lease studio time to other pro's. But not the general public.

Would you rent by the hour studio space?

What would you consider a fair price per hour for just propper space with ceiling track / mounts, and background supports whith say 1/2 dozen backgrounds to choose from? You supply your own photo gear. Maybe I supply light stands as well.

If you did rent, how often would you rent it given the price your willing to pay per hour.

Would you consider joining a "club" for better rates but higher up front costs?

If you would only do it if lighting gear was provided. Say up to 4 lights. What price would you be willing to pay?

This is serious questions. So, please be kind in your replies.

I already have business license, tax ID's, and insurance (would need modifying I am sure). I know the buildings costs for utilities for the last 3 years. No property taxes as the space would be a lease. Basically for a business plan, I would like to know what semi-serious to pro's are interested in, who for one reason or another cannot have their own dedicated space.

I would like to add, to save on expenses. It would not be attended all the time. And facility would be available 24 hours. Entry would be by a magnetic key card set to each person. Something like 24 hour gyms use now. This would be photographer using own gear this way. Rental time with gear included would only be while studio is attended for security reasons!

Thanks.

 

[Big Mike]

I think it's a good idea, within reason. I mean, if you can generate a loyal group of rental clients to keep the cash flowing...then you can concentrate on using it yourself and drumming up additional renters.

I do think that having renal lighting gear would be a good idea. The market size for people who have their own lighting gear, is much smaller than the market of photographers (or wanna-be photographers) that don't have their own lights. Of course, you will want to get some pretty heavy duty stands and durable, pro-level lights...and count of having some repair & maintenance costs.

One concern is competition. It's great to have friends & colleagues in the industry...but you'll probably make more money photographing clients yourself, rather than just renting the studio to another photographers who is shooting the same people. So make sure you are cool with that.

As for how much I'd pay...hmmm. Maybe $30-$50 per hour for the space & backgrounds etc. Maybe $50-$75 if a set of lights in included...and maybe more if there are props, clothing etc. available as well.

Maybe you could even have a rate that includes you (or someone else) to help & mentor the photographer. For example, Soccer Mom has a fancy Rebel T1i and she booked her first family shoot. She would love to use a studio and proper studio lights, but she won't shell out $2000 for a beginner set of her own...and she doesn't know how to use it anyway. So for [$100/hr], she can use the studio and gear, but you are there to show her how to use it and maybe give her a few tips here and there.

The next step of that, would be teaching classes. I teach a lighting course out of a small studio and it's usually sold out.

 

[benhasajeep]

Well I actually would not be there the majority of the time. If we were to man it say for 9-10 hours a day. It would be my wife. My current sallary level would be hard to replace with photography. She is learning herself so, she would be there more for operating the location. And I suppose could practice all she wanted when not in use. And props would be included. As the people who have been talking to her trying to get me to do it. Is mostly for kids work. Obviously as time went on we would add more. But I wouldn't want to put too much into it right off the bat. The cost of the building I could almost cover without any return, would be like renting a large storage space. Just this is a store front in town. About the only thing I would have to do is make a secure storage area, if we did allow unsupervised use (24 hour entry).

And although I don't use them anymore. I do have a full sized minilab for C-41 (disc up to 120/220), and a E-6 minilab (E-6 probably not so much). Reason I put them in storage is the C-41 machine is not digital. But I could fire them up again. Only the time I am there. I don't think I would have my wife run the machines. I could also do a small Jobo processing area (already have the gear).

 

[Derrel]

I would expect some kind of discount for half-day (4-hour) blocks or for 8-hour blocks of rental time. Around here, around $30 an hour is the going rate, $50/hr with some lights and grip equipment included BUT with a 4 to 8 hour block reserved, the hourly rate drops and an 8-hour rental is only $175-$200. I suspect what that does is it makes it more attractive for those who rent space,and for those who book the rentals--fewer clients, less paperwork,etc. In today's commercial real estate market there are a LOT of empty buildings, so there's no shortage of studio-capable real estate these days in many markets across the USA.