Starting up a photography business ?

[Michaelcr01]

Hello all !

Me and a friend are looking at starting up our own small local photography business, We're mainly doing studio photography and wedding photography.

I know a lot of people are thinking that the market is highly competitive, Which it is after much research into it, But after doing surveys and getting general opinions from people from all walks of life in our town, It appears most people won't consider a day in the studio due to the high cost it incurs.

The two main companies within our town are well known for charging extortionate costs and many hidden fees for small photo shoots, In fact we where surprised by a few people who had been for studio shoots and the costs that they where charged, Not only for the session, But also for each photo they wanted to purchase (You're talking £475 for a CD).

This is where we where looking at putting our business into, Charging a lot lower fees and costs because we wont be buying any commercial property so there will be no huge monthly out goings to cover, Instead we're renting a modern furnished studio on an hourly basis from someone we know for cheap rates.

Anyways, The question for anyone else who's in the same dilemma of perhaps someone who's successfully made a business is this,

We're looking at getting a small business grant or loan Perhaps somewhere in the region of £8,000 to cover start up equipment costs, some new lighting, and advertising, What would be the best route to go for this (We're in the UK) ?

We have a Business plan/portfolio built up, List of exact start up costs and how we would use the investment.

Any help will be greatly appreciated !

Thanks ! Michael.

 

[Formatted]

What would be the best route to go for this (We're in the UK) ?

Your asking us how you should get funding for your business. Really? Should you be in business if you don't know how to fund it. I'm 18 and I know I needed a loan.... Geez...

 

[matthewkristjan]

look into the book

Best Business Practices for Photographers - John Harrington

It has so much information that is vital to staring and running a photography business

 

[AtlPikMan]

What would be the best route to go for this (We're in the UK) ?

Your asking us how you should get funding for your business. Really? Should you be in business if you don't know how to fund it. I'm 18 and I know I needed a loan.... Geez...

With comments like that one, WE all know your telling the truth about your age.....Geez

 

[Formatted]

With comments like that one, WE all know your telling the truth about your age.....Geez

I don't think my response was unreasonable. I also think you've just made the comment to get a cheap laugh at my expense.

 

[flightless_beaker]

The book that I started with is Nolo's Small Business Startup Kit. Its kinda geared more towards American businesses going into their legal structure and all that but it was a good read to get some ideas. The basics on overhead costs, cost managements, blah blah blah are all the same. It even has a CD to help you figure everything out. All it is is you plug in numbers and it does the math for you which is great because not doing math is why I got into photography in the first place Grants are good because you don't have to pay them back, but I decided to not go down that route because they (at least in my state) are kind of a pain to get and I don't need that much more equipment (just a couple more lights, one if I use a reflector, and a couple backgrounds). I'm just waiting for my tax return then I'm gonna get the ball rolling.

I like your idea of not using a studio and if you do, you are renting. That will keep your overhead costs down and you can pass your savings on to your customers. That is something similar to what I'm doing. Because I am doing on location shooting and working out of a home office, my overhead costs are mostly going to be gas and insurance. The lower you can keep your costs, the lower your rates can be and the more likely you can have that competitive edge or invest what you would be spending on rent and stuff in to better equipment.

 

[KmH]

£475 is only $766 USD and IMO is not an "extortionate cost" for a CD of images from an established, reputable, professional photographer.

But, that's me.

What do you think a CD of high quailty, high resolution, professionally made photographs should cost?

 

[Wario]

Taking loans on a business is risky, and if you already have existing debt, like school loans or a mortgage, I would steer clear of anymore debt. Ask Photographers like Zack Arias, it could rip your life apart.

I can understand where you are coming from, and it's great that you're doing research in your market and that will greatly benefit you, but make sure that you are offering more than just a cheaper cost for you photography. What else are you offering on comparison to the photogs in your market? Online galleries? Contests? Personable service? Blogging?

I think the biggest thing that will set you apart from others, besides your image quality, is your CRM, your customer relations. The biggest complaint I hear from clients of previous photogs is that their communication sucked, or were not friendly, non-relational, etc. Granted if you're images are phenomenal & you're world-renown, you can pay someone else to be friendly and do your CRM. But for the majority of us, it's the combo of fantastic image quality and an impacting, personable experience that will get your clients singing your praises. Word of mouth is better than an other advertising out there, you can't beat a personal referral.

I wouldn't spend any money on ads until you got a decent word of mouth following. You can utilize social networking to get you started and build from there.

Do you need to expand you biz immediately because it's your only source of income? If not, remember slow and steady wins the race, especially with businesses. I would work extra jobs instead of taking a loan, but that's just me. I don't like debt. £8000 isn't a crazy amount, so I guess it will come down how you feel about owing more money.