Building Your Photography Business
Hello!
If you’re here, you’re thinking about starting a photography business! Congrats! First off, there is no “exact formula” to starting a successful business however, there are some ABSOLUTES you must do when you first decided to become a professional photographer, along with some things I WISH I had known when I first started my business.
THE BASICS
First off, if you don’t have a camera yet. Bookmark this page for later… This blog post is about hobbyists who have their gear, and are now making the shift to start an official business. You should already have some knowledge with photography before you start to charge for your work so… Practice, practice practice and invest in education!
I am a big proponent of making sure you know how to use a camera in manual mode first and foremost. If you’re shooting on Automatic, you’re not going to be able to deliver professional quality images to your upcoming clients.
I practiced my “exposure triangle” on a stuffed animal, and using the camera in manual mode to aperture (f-stop), shutter speed and ISO as well as practicing manual and auto focus. At the time, I also would take my dogs to the dog park and capture images of the dogs which is GREAT for learning how to capture moving object.
You can learn most of the absolute basics to photography on Youtube, but that doesn’t mean you’re a pro just yet! CreativeLive and/or finding a photography mentor will help set you apart and launch your business right!
Once you’ve learned how to work your camera, you can do a model call, but remember to fully disclose that you are learning and these model call sessions are for you to learn to temper expectations.
FILING THE PAPERWORK
True story: Many new photographers don’t understand the business side of this career path. Although this is a creative field, it is still in fact, a business. And you’ll need to register your business with the county/city. Most photographer choose to register as a sole proprietorship or a limited liability company (LLC). Each legal structure offers their own benefits. The type of business SP or LLC you decide on will impact your business moving forward'; from taxes to liability and so on. It would benefit you to consult with a business attorney or tax professional to help make the right decision for you.
To officially start, you will need a:
Business Name & Entity Type
Business License
Business Insurance
EIN
Bank Account / Separate Card
Each state/county has their own rules and laws about small businesses/taxes etc so I cannot speak
A dedicated business credit card is another practical tactic for separating your business and personal expenses.
THE GEAR
People often ask me “what’s your gear list?” As a photographer that is a decade into my career, I have invested tens of thousands of dollars into equipment AS NEEDED, however when I started I started with a camera that was already 5 years old and just 1 lens.
Repeat after me: “I do not need all the latest gear to be good at photography”
It’s true!! Often times when I am teaching courses, I notice students having all the upgraded gear and pouring thousands of dollars into new items. Often times, their gear is even newer than mine. Granted, technology is changing rapidly and you should invest wisely, it doesn’t mean you need to splurge on EVERYTHING.
You DO need a professional grade camera.
You DON’T need the highest end camera body from Canon/Nikon/Sony etc
You DO need a professional grade lens (or two)
You DON’T need 4+ lenses for every photography occasion
You DO need good quality memory cards (Ultra High Speed)
You DON’T need every new-fangled attachment your camera brand of choice sells
COSTS YOU MIGHT NOT THINK ABOUT INITIALLY:
When calculating your Cost Of Doing Business (CODB) you need to factor in EVERYTHING.
This can be incredibly overwhelming, I certainly was feeling like “can I do this?” once I sat down and wrote everything needed down. But, this CODB exercise will inform you what you SHOULD be charging in order to run a viable business.
Computer Maintenance
Editing Software
Contracts/Forms Storage
Photo Storage
Client Deliveries (Gallery)
Travel Costs/Gas
Continuing Education
Marketing
Subscriptions/Dues
Website/Hosting/Email
Internet
Taxes
Check out this CODB Calculator from NPPA
HOW MUCH SHOULD I CHARGE?
Once you’ve calculated your CODB you need to ask yourself this question: How many hours can I devote to my photography business in a typical month? (this number should not be over 40 hr/week!)
Reminder: This should include client emails, editing, client sessions, marketing etc.
Now, how much do you NEED to make to consider this a viable career (even if its a side hustle for now).
So you calculate your MONTHLY CODB + MONTHLY SALARY (this should include tax) and divide by HOURS PER MONTH
What is the total?
Remember as a small business owner you are taking on more risks than an employee. You will have down times, you will run into problems that need solving so you have to prepare for those things financially. You need to make more than minimum wage to make it through.