How much money have you invested?

[sm4him]

I was talking to another local photographer the other day and she told me that in the past year, she has invested $28,000 into her photography business (portraits, weddings, events). This is her first year in photography and even after her investments, I personally don't see any quality in her photography and certainly would not hire her.

That being said, I'm also in my first year and have a lot to learn, but I can't imagine investing that much money this early.

So, this spiked my curiosity... How much money have you invested into your photography business? Over what period of time? And did you get a business loan to help with these investments?

Since this clearly states that you are interested in what we've spent on our photography BUSINESS, I'd say nothing yet--since I don't have a photography "business"--and in my own personal opinion, anyone who has been DOING photography for such a short period of time before launching into "business" is jumping the gun in a very big way. But THAT is a conversation we've already beaten with several sticks.

If I *were* going to go into business--in the sense of doing portrait photography or something like that--I can EASILY see spending $30K on it. Not necessarily just on gear, but your post doesn't seem to restrict it to gear. By the time you buy the f/2.8 lens, the pro-grade cameras (at least two), the quality tripods, the flashes and triggers, etc, you'd already be well on your way to 30 grand. Then add insurance and marketing expenses--yeah, I can see 30K invested pretty quickly.

MY goal is not to do photography as a business, or at least not as a business with clients, like portraits, weddings and such. My goal is more to enter the fine art/gallery side of photography. But this is a goal that I've only decided on for sure after MANY years of simply learning and ENJOYING the hobby of photography. Mostly, I still just want to learn it and enjoy it. If getting my work published and accepted into galleries and such ends up making me enjoy shooting less, I'll quit faster than an Osprey dives and catches a fish. ;-)

With all that said--I do find it interesting to hear the varying amounts being spent, whether as a hobby or a profession.
I just recently had to create a list of everything for insurance purposes (yes, I'm just now getting my gear insured...don't judge me, people!! lol), and was pretty surprised to find that I have probably $10K worth of gear. However, that would be the "new"/replacement value of everything--and most of what I have I got used, so actual total investment is somewhat less than that. Oh, come to think of it, that also includes my computers, so even less than that.

That's just my digital investment, over the past 3 years. THEN there's all the film cameras and lenses that I still have. MOST of those aren't "worth" a plug nickel today, but would add quite a bit to my total "investment" number. I shudder to think what the final total would be...

im surprised people are calling this a investment to begin with since most photography is known to be a loss from the beginning (not all most). Not sure if this is to make people feel better or...

how about "how much money have you pissed away on photography in which you hope to get some of it back"

It's still very much an investment. A BAD investment, perhaps, but an investment nonetheless. :lmao:

 

[imagemaker46]

35 years, no idea really, over $250k I expect.

 

[skieur]

The question that really matters is what's the ROI on your current investment.

My ROI was too good, because I owed the tax department an additional 10,500 over more than that in installments.

 

[bribrius]

im still trying to figure out the gear insurance thing.... granted, i don't have huge money in gear but generally speaking my house is in is insured with its contents up to 100k in belongings or some stupid number (way more than my stuff is worth here, so are you guys insuring for theft out of your cars or something?

 

[TheFantasticG]

im surprised people are calling this a investment to begin with since most photography is known to be a loss from the beginning (not all most). Not sure if this is to make people feel better or... how about "how much money have you pissed away on photography in which you hope to get some of it back"

Ha. I agree from a non-business prospective when you expect no returns using the equipment you have purchased.

My motorcycle has seen WAY more money than my photography and I've only been into bikes since September 2013... When I bought a brand new 2013 Kawasaki 650 ABS off the show room floor. I've paid it off and since bought upgrades. The only thing I "invested" in would be my safety gear which I hope never have to collect a return on. I have spent somewhere in the neighbor hood of $45,000 on modifying cars and now bikes. Photography is a drop in the bucket.

 

[manaheim]

The minute you start saying stuff like "so and so spent $$$$$ and their photography still sucks", you are falling victim to the specter of jealousy and spite. The person you are focusing on has got some money to blow, and you wish that person... because man, you sure as hell could do better with that gear than her! Etc.

Maybe that's not your EXACT thought process, but I'll bet you dollars to donuts that it's damned close.

Here's some advice that won't cost you a red cent...

...don't worry about what other people are doing. Don't even pay attention to it. Focus your energies on yourself... how you want to improve... the things you need to make yourself a success.

Stick with that and you'll save yourself a lot of frustration, and a fortune on antacid.

 

[bribrius]

The minute you start saying stuff like "so and so spent $$$$$ and their photography still sucks", you are falling victim to the specter of jealousy and spite. The person you are focusing on has got some money to blow, and you wish that person... because man, you sure as hell could do better with that gear than her! Etc.

Maybe that's not your EXACT thought process, but I'll bet you dollars to donuts that it's damned close.

Here's some advice that won't cost you a red cent...

...don't worry about what other people are doing. Don't even pay attention to it. Focus your energies on yourself... how you want to improve... the things you need to make yourself a success.

Stick with that and you'll save yourself a lot of frustration, and a fortune on antacid.

[h=3]Proverbs 14:30[/h] English Standard Version (ESV)

[SUP]30 [/SUP]A tranquil[SUP][a][/SUP] heart gives life to the flesh,
but envy[SUP][b][/SUP] makes the bones rot

 

[TinySquid]

Nikon camera gear and port. flash: $9025.00

Canon camera gear and port. flash: $8500.00

Tripods and support: $1850.00

Studio Flash: $3725.00

Studio soft boxes and light modifiers: $5075.00

Misc. studio: $1889.00

Studio Props: $7250.00

Studio Backgrounds: $7950.00

The camera gear is just the digital gear we have retained--It does not count the digital body upgrades we purchased since 2001 along the way--those are FIVE DIGITAL BODIES--before those listed.

That would add another: $9500.00

This does not count ANY of the MEDIUM FORMAT CAMERAS we bought before we went digital--that was THREE SYSTEMS ( Big Money ).

So... are those inflation adjusted numbers?

 

[nzmacro]

I was talking to another local photographer the other day and she told me that in the past year, she has invested $28,000 into her photography business (portraits, weddings, events). This is her first year in photography and even after her investments, I personally don't see any quality in her photography and certainly would not hire her.

That being said, I'm also in my first year and have a lot to learn, but I can't imagine investing that much money this early.

So, this spiked my curiosity... How much money have you invested into your photography business? Over what period of time? And did you get a business loan to help with these investments?

Be very glad you are not a sports or bird shooter

Danny.

 

[Scatterbrained]

Nikon camera gear and port. flash: $9025.00

Canon camera gear and port. flash: $8500.00

Tripods and support: $1850.00

Studio Flash: $3725.00

Studio soft boxes and light modifiers: $5075.00

Misc. studio: $1889.00

Studio Props: $7250.00

Studio Backgrounds: $7950.00

The camera gear is just the digital gear we have retained--It does not count the digital body upgrades we purchased since 2001 along the way--those are FIVE DIGITAL BODIES--before those listed.

That would add another: $9500.00

This does not count ANY of the MEDIUM FORMAT CAMERAS we bought before we went digital--that was THREE SYSTEMS ( Big Money ).

So... are those inflation adjusted numbers?

Not likely.

 

[petrochemist]

Since getting my first DSLR in May 2010 I've spent £6310 in photography hardware. Much of it on very cheap items (adapters etc.), and most of the rest second hand, no single item cosing me more than £500 (The Bigmos as £599, but it was a long service award I only paid the postage).
However I'm purely a hobbyist, if running a business there are many expenses that wouldn't fall into the hardware bracket that would need to be invested, to cover the business described:

Rent of a studio.
Insurance.
Advertising.
Staff costs (No one should be doing wedding photography without a second shooter)
Props...

$28k would to me seem to be realistically on the low side for a sucessful photography business.

 

[Virgil]

If you're working as a pro you have to have a back up for all your gear, so, $30,000.00 isnt all that bad. Could you imagine doing a wedding and your camera or light pack stopped working. One bad wedding and your name is ruined forever.

 

[rwilliams]

Not quite what I was thinking, but I suppose I could see how it came across like that. I honestly just couldn't figure out where they had spent all of that money. After reading over this post, I have a better understanding on how things could add up. I still think it's silly to have spent so much in one year, especially if they're obviously not knowledgeable of the equipment they're using.

And no, I don't think I could do better with that much gear. I would be totally in over my head with all of that. I'm trying to learn how to use what I have the best that I can before I venture off into too many purchases. However, after reading some of these posts, I am a bit anxious to purchase some new lenses.

The minute you start saying stuff like "so and so spent $$$$$ and their photography still sucks", you are falling victim to the specter of jealousy and spite. The person you are focusing on has got some money to blow, and you wish that person... because man, you sure as hell could do better with that gear than her! Etc.

Maybe that's not your EXACT thought process, but I'll bet you dollars to donuts that it's damned close.

Here's some advice that won't cost you a red cent...

...don't worry about what other people are doing. Don't even pay attention to it. Focus your energies on yourself... how you want to improve... the things you need to make yourself a success.

Stick with that and you'll save yourself a lot of frustration, and a fortune on antacid.

 

[SnappingShark]

I'd say about $7000 and that's on stuff I've picked up since August 2013 (I had a huge gap in not having any equipment since I moved from the UK to US a couple of years ago)

 

[tirediron]

im still trying to figure out the gear insurance thing.... granted, i don't have huge money in gear but generally speaking my house is in is insured with its contents up to 100k in belongings or some stupid number (way more than my stuff is worth here, so are you guys insuring for theft out of your cars or something?

First of all, check your home-owners policy carefully; irrespective of the total dollar amount covered many (most?) have limitations on the amount that they will reimburse for a specific type item. $5000 seems like a very common number in my experience, so in practical terms, you could have $10,000 in gear in your home, your house is burgled, and all your gear stolen ($10K can easily fit into one gadget bag these days); if you have a $1000 deductible and a $5000 cap on camera gear, all you would get would be $4000!


My insurance covers my gear no matter where it is. House, venue, vehicle, bus-station locker up to $50,000. It also covers me if someone else damages my gear, or if my gear hurts someone ($2,000,000 liability). It also allows me to add a venue as a 'co-insured' so that if I'm shooting in a big hotel for example and something happens that relates to me or my gear, my insurance and not the hotels will take the hit. This is a VERY common requirement of many venues.