Do you find it hard to get the camera off your hands? Do family members and friends call you to photograph their gatherings and functions?
If you get a lot of “likes” on your Instagram feed, you need to take your skills to another level.
Why turn your hobby into a business?
Photography is an excellent business idea. Here are the advantages and disadvantages of delving into the photography business.
- Make money from your favorite hobby
- Work with a flexible schedule because you’re in charge of your planning
- Meet new people and interact with clients from all walks of life
- Book clients in sites, sceneries and locations you’ve always wanted to visit
- It’s fulfilling to capture people’s special moments in life – such as when shooting a milk birth maternity shoot or cake smash photos.
- A business setup is needed and sometimes it can get expensive
- It exposes you to the negative side of clients, especially when they’re stressed
- Denies you the pleasure of spending time with family
- Initial income can be inconsistent at the beginning of the business
- It takes away the fun in a hobby because a business comes with demands
How to begin a photography business from your home
If you have been taking pictures for leisure, you may think of turning a section of your home into a studio.
However, you need to take photography lessons to hone your skills and learn what it needs to start your business.
1. Define your photography services
Most individuals love to have memories for the important milestones they make in life. On the other hand, businesses and brands need photos for their brochures and products. Additionally, companies have different needs depending on their niche.
A fashion magazine may need photos related to their articles or clothesline; individuals may require you to capture their wedding, birthday or graduation ceremonies.
2. Draft a business plan
A business plan helps you to take critical considerations in mind. Here, you outline your photography business’s weaknesses, strengths and opportunities. It also includes your financial strategies, marketing plans and business projections for the future. A successful business starts from a well-researched and written business plan.
3. Determine the business structure
Do you intend to run the business alone? Turning a hobby into a business may require the expertise of other professionals such as an editor, a lighting technician and more. You need to define if your business is a sole proprietor or a limited liability company. The latter protects your photography assets in case of litigation.
4. Create a brand name
Clients prefer working with a business more than with individuals. Creating a name for your business is imperative because it will become your brand and identity. Therefore choose a business name that fits your activities. For instance, if you’re good at family portraits, you may choose an elegant title that suits weddings, family gatherings and the such.
5. Invest in equipment and supplies
You may need to invest in high-quality lenses, photo-editing software, screens, light equipment and other equipment. You can reduce the startup capital by turning one of your rooms into a studio. However, you need appropriate supplies and equipment for a great start.
The photography industry is expanding rapidly. You can grow in leaps and bounds if you take the first step, enroll in photography classes and learn from the experts.