Advice on REALLY starting in on the business

[steveng6920]

Hello All,

I've been a member here for a while and love reading all the different critiques people offer, as a matter of fact that is how I've learned so much on what to do and not do.
Anyways I've been practicing photography for around 10 yrs but have been REALLY honing the craft for the past year. As of now my "studio" is inside of my home in my spare bedroom which is pretty darn small, lol. All I can fit in there is my backdrop stand, lights and desk with computer. It's pretty cramped in there and I'm scared it looks very unprofessional.
I would really love to make a living solely from Photography because it is something that I really enjoy and am very passionate about. But I'm extremely TERRIFIED that I won't make it if try and open my own business in photography. Some questions I have are mainly about opening up a real photography studio, if you guys wouldn't mind answering a couple questions on having a studio I would really appreciate it...

1. How many of you have made a living solely on photography?

2. Do you have an actual studio or home studio? And which do you believe is better from a money making stand point?

3. If you have an actual studio, did you start off with an in home studio first? Did opening an actual studio bring in more money?

4. Did you wait to open an actual studio when you had enough clientele built up? Or did opening up a studio bring in more clientele?

5. Is it wise to take out a small business loan to start up the business?

The reason I ask about money so much is because I'm scared that if I open an actual studio I won't be able to afford it, lol!

Here are some of my images for visual purposes...





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[Tom]

1. How many of you have made a living solely on photography?

I do.

2. Do you have an actual studio or home studio? And which do you believe is better from a money making stand point?

I have neither. Well. I have lights, stands and an area I can set up a studio, but I don't. I do take my lights on location, though.

3. If you have an actual studio, did you start off with an in home studio first? Did opening an actual studio bring in more money?

PPA's magazine did a story on this recently. Your profit margin is significantly higher with a home studio than a store studio due to the higher over head.

4. Did you wait to open an actual studio when you had enough clientele built up? Or did opening up a studio bring in more clientele?

N/A, but I would definitely wait until you have the business to sustain the expense.

5. Is it wise to take out a small business loan to start up the business?

I don't think so. Use your current income to build your equipment, and start a plan to pay yourself back with your photography income. No reason to go into debt to build a business.

[WarrenG]

1. How many of you have made a living solely on photography? I get 100% of inclome through Photography.

2. Do you have an actual studio or home studio? And which do you believe is better from a money making stand point? Studio. I made more profit without a studio as the overhead was lower.

3. If you have an actual studio, did you start off with an in home studio first? Did opening an actual studio bring in more money? No & No.

4. Did you wait to open an actual studio when you had enough clientele built up? Or did opening up a studio bring in more clientele? Opened a studio once sales warranted having one.

5. Is it wise to take out a small business loan to start up the business? I did not take out a business loan


There are a ton of similiar threads on this subject. It sounds like you are really lacking the confidence to know you will earn the money (either from the shooting aspect, or sales aspect)? With that said, before I worried about a studio or making a living at this, I would gain some more experience by working with / for someone else until you can build up confidence in your abilities.

Now if you are booking, and doing so much shooting for pay right now that it interferes with your day job, then opening a studio or shooting full time might make sense. Otherwise, take into consideration that from every shoot you do you will need to take out overhead (for easy math lets say you can get away with 10-11k a year for the lease of a small studio) then insurance, salary, and misc costs (again for simple math.... say another 35k in salary, and 10K in misc) that gives you an idea of what you need to earn to cover expenses before your company is turning a "profit".

Bear in mind that my numbers are pretty soft, and are for a very small studio with a small salary, and do not even address any of your COG's.

A studio will not bring client's in the door, and is certainly not a requirement for being a full time shooter. There are a lot of studios that you can rent space in, and I know for us... we still shoot the majority of our stuff on location.

Hoep that helps,

W

[HeatherLou]

Originally Posted by steveng6920

1. How many of you have made a living solely on photography?

I now make 2/3rd of my income from Photography. I still have a part time job, 25 hours a week. This helps get me through the lean times, gives me someplace to go during the day instead of editing in my pajamas! My boss also lets me meet clients, edit and do my business while I'm here. She is a great contact for new clients also. Even if I didn't need to work, I still would, just on that fact alone.

2. Do you have an actual studio or home studio? And which do you believe is better from a money making stand point?

I have a studio in a warehouse my FIL owns, so I get the advantages of the studio, but don't have that overhead. However, its a double edged sword. Having a studio cost more money, but also gives your clients a good feeling that they have a *place* to contact you.

3. If you have an actual studio, did you start off with an in home studio first? Did opening an actual studio bring in more money?

I moved to the warehouse because my husband didn't want clients dropping by at inappropriate times :)-

4. Did you wait to open an actual studio when you had enough clientele built up? Or did opening up a studio bring in more clientele?

There are so many factors that go into getting clients. Just HAVING a studio is not going to do it. I think opening up a studio without having a clientele is insane!

5. Is it wise to take out a small business loan to start up the business?

I have built my business one baby step at a time. Every time I made money, it went back into the business to upgrade equipment, get better backdrops, lights and all the things you need to run a studio. I do not have a credit card, personal or business, so my studio has never been in debt to anyone. Except my FIL, but the only time we borrowed from him was to replace equipment when our house was broke into. He was paid back the minute we got the insurance check. On the flip side, its taken me nearly 5 years to get to a point where I *think* I could make some money doing this!

[bondarnes]

1. How many of you have made a living solely on photography?

I have earned a living from photography since 1970.

2. Do you have an actual studio or home studio? And which do you believe is better from a money making stand point?

I started out doing weddings only so everything was on location. That grew to the point that I needed a studio for engagement and bridal sessions. I rented a commercial location in 1975. In 1987 I opened a second location and had two studios for over 15 years. I sold my main studio a little over a year ago and now I am back to doing everything on location. In today's market it will take a marketing wizard to open and run a successful business. The ideal situation is a nice home with a totally separate area or even a separate building for your business.

3. If you have an actual studio, did you start off with an in home studio first? Did opening an actual studio bring in more money?

I never had an in home studio, but for a little over ten years, my studio was on the same property as my residence. And for the last year before selling my main studio, my wife and I lived in an apartment above our studio.

4. Did you wait to open an actual studio when you had enough clientele built up? Or did opening up a studio bring in more clientele?

As I stated above, I opened my first studio as a business necessity.

5. Is it wise to take out a small business loan to start up the business?

It is never wise to borrow money, however if you have a business plan that shows how you will pay off the loan in a short period of time, then I might support it. I had all my equipment and most other business essentials before I rented a space. I had to pay almost a year's rent in advance to get that space. And I can tell you that I ate nothing but beans, rice and ramen noodles for the first couple of years.

[steveng6920]

Thank You guys very much for all of your feedback it really gives me a lot to think about which is why I knew it would be wise to come here and ask for opinions! I'm not saying that I want to run out and open a studio right now without doing all my research even though all my friends say "Do it", "what are you afraid of" um hello...I have a family to support that's what I'm afraid of, ahahaha! I would never want to put my family at risk so I want to go slow and make sure I'm ready. So thank you all very much for the input!

[HeatherLou]

Steven, you have to be careful with family. Families can be a huge support, but also love you and typically won't tell you the bad things. My biggest help when I first started out was a few friends here in TPF saying, "Okay, that pic really sucks, here is what you do to make it better." Family won't do that for you.

[steveng6920]

You are sure right about that, lol! I haven't had one friend or family member tell me the honest truth about my work! They sugar coat everything for me, lol!

[tukaniray]

Man this is a great thread. Thanks for posting Steven.

Shows I need to jump in more often and read more threads.

I also contemplate the same things in my head ...

These are some great advice from some of the best on TPF.

-Ray-

[Some Idiot]

great replies in this thread, thanks everyone

[snidow]

Originally Posted by Heatherlou

Steven, you have to be careful with family. Families can be a huge support, but also love you and typically won't tell you the bad things. My biggest help when I first started out was a few friends here in TPF saying, "Okay, that pic really sucks, here is what you do to make it better." Family won't do that for you.

So very true, one of the hardest things to get is honest and constructive criticism of your work. But it's one of the most important things to have, lets you know if you are on the right track or not.

[HotHolly]

1. How many of you have made a living solely on photography?
me. i had a photo studio and then bought out a bridal shop. i started with an e-500.

2. Do you have an actual studio or home studio? And which do you believe is better from a money making stand point?
skip the studio. i have one. imho, anything that increases overhead should be examined. not too many of us HAVE to have a studio.

3. If you have an actual studio, did you start off with an in home studio first? Did opening an actual studio bring in more money?
no. if you build it they will NOT come. you should have an established client base BEFORE you open a studio. and even then, it may no be wise. it creates a LOT more overhead and makes it harder to turn a profit - which is what feeds your family.

4. Did you wait to open an actual studio when you had enough clientele built up? Or did opening up a studio bring in more clientele?
yes, i opened a boutique studio when i had an established client base. opening a studio doesnt mean you'll get more clients. spend your $ on marketing instead of rent if you need more clients.

5. Is it wise to take out a small business loan to start up the business?
that is a personal question. i would NOT touch a business loan without a business plan. and you do not need a studio to open a photo business. join the PPA, talk to your local SBA, and find out as much as you can about the business aspect. if you cant manage that, you'll be screwed and stuck with a loan you cannot repay. take baby steps, and you wont need a loan.

remember - it is the EXCEPTION to become a star overnight. most of us worked our asses off to get to where we are. it was blood, sweat, and tears. nothing magical. sorry if thats a downer. i have so much to do that im getting run into the ground, so i may sound a little swarthy. i'll cut it out now. i just finished my business work for today. now i can start on tomorrow! it never ends. good luck!