How to Start a Photography Business

The key to a successful photography business is having a long-term income, meaning that you may need to focus on a stream like family photography or events, since these services will be in demand for many years to come.

Family and portrait photography may be more suitable in a studio, while event photography will require you to be mobile. The type of photography services you provide may depend on your starting capital and which equipment you can afford.

This article on how to name a photography business provides a step-by-step guide to choosing the perfect name for your photography business.

This section should define what your business does. It also provides an overview of the company structure.

Next, you should outline your mission statement. This should be a concise statement that encapsulates the purpose of your photography business.

Lastly, list your distinctives. This helps to differentiate you from other photography businesses.

State your legal structure, location, ideas for a launch, and your sources of revenue.

List the platforms you will use to promote your business and write out your SWOT analysis.

Name your top competitors and note what aspects of their business may be in direct competition with yours.

Describe your startup expenses, sources of funding, financial operations, revenue projections, and a pro format profit and loss statement.

If you are the only person working for your company, a sole proprietorship or an LLC is probably the best option. Both allow an individual to be the owner of the business.

Trademark your name to ensure that no other company can use it. Visit the United States Patent and Trademark Office website to do this.

Register your business online using your secretary of state's website.

There are several ways in which to source funding:

• Crowdfunding: You can set up crowd-sourced funding online, allowing friends, family, or interested investors to donate money towards your business. Some businesses offer to pay these initial investors interest.

• Small business loan: Banks can be approached for small business loans, provided that you have a good credit score and some collateral.

• Sell equity: You can sell equity in your company to get the funds you need, but this will mean splitting your ownership of the company as well as your profit.

• Business credit card: Business credit cards are an option if you failed to qualify for a loan.

Most photographers will need:

• DSLR camera (2).
• Camera lens (3).
• Speedlight flashes (2).
• Memory cards (3).
• External hard drives (2).
• Laptop (1).
• Tripods (1).
• Hardshell camera bags (1).
• Spare camera batteries (3).
• Remote triggers (2).
• Filters (2).

If you work in a studio, you may also need:

• Light heads (2).
• Light boxes (2).
• Tripods (4).
• Background light stands (2).
• Wireless remote triggers (4).
• Battery packs (2).
• Clamps (4).
• Calibrated grey card (1).
• Magic arm bracket (2).
• Light meter (1).
• Focus spotlight (1).
• Backdrop crossbar (1).
• Backdrop stands (2).
• Backdrop hooks (2).
• Reflectors (4).
• Posing stools and boxes (6).
• Props (~20).

When looking for a studio, consider the following:

• Demographics.
• Accessibility.
• Proximity to service providers.
• Competition.
• Size and space requirements.
• Zoning.
• Safety and crime stats.

The U.S. Small Business Administration website will alert you to any permits and licenses you may need.

In general, the best platforms for photography businesses are:

• Facebook.
• Instagram.
• Vero Social.
• Steller Stories.
• YouPic.
• Trover.
• Pinterest.

• Equipment Insurance will cover your equipment in the event of damage or theft.

• General Liability Insurance will cover you if your equipment falls and injures somebody.

• Property Insurance will cover your studio and its contents from damage or destruction.

• Professional Liability/Errors & Omissions Insurance will cover you in situations where your clients are not satisfied with your work, or if you have made a mistake when taking or preparing their images.

In the beginning, it is advisable to work independently as you build your brand and establish yourself with your clients.

As your business grows, you will need to hire staff who can help with various roles.

Think of creative ways to advertise and attract customers. You could offer a launch special where clients receive discounts for referring their friends and family, for example.