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<\/div>Starting your own business? Our sole proprietorship guide lays it all out.<\/div>
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Photography isn’t just a way of capturing a memory for many people. Photography is a fulfilling way to express yourself. It’s a way to interpret the world and make the invisible visible.<\/p>\n
And for many who have strong photography skills, it’s a way to make a living and make photography a business.<\/p>\n
Navigating the transition between photography as a hobby and creating a career by starting a photography business (or growing your photography business) can be tricky.<\/p>\n
If you have strong photography skills and want to take the plunge and start your own photography business, there is much to consider.<\/p>\n
Our team has helped hundreds of photographers start, grow, and market their photography businesses. And for the past fifteen years, I’ve mentored thousands of entrepreneurs formally through Techstars and Founder Institute and informally on starting and growing their businesses in photography and other industries. This guide shares actionable insights, experience, tips, and best practices.<\/p>\n
With the right resources and strategies, starting a business as a photographer can be an inexpensive way to become an entrepreneur and your own boss.<\/strong><\/p>\n <\/div> Before you start your photography business, you must consider your strengths, weaknesses, and interests.<\/p>\n <\/div> You probably know what kind of photography business you want to start. Maybe you want to start a wedding photography studio, or your heart is set on taking headshots and portraits.<\/p>\n No matter what angle you choose, evaluating existing businesses around you is important to see how much competition you’ll face.<\/p>\n Photography is a competitive industry.<\/p>\n More than 12,458<\/a> businesses in the U.S. specialize in photography. They collectively earn more than $6.5 billion per year. The industry is growing 2.5% annually and is forecast to grow 1.8% annually by 2024.<\/p>\n Despite the competition, a photography business can be fulfilling and rewarding.<\/p>\n Think about how you can integrate your natural skillset into your photography business to stand apart from your competition. Ask yourself the following questions, and take time to reflect on the answers:<\/p>\n Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p> Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p> Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p> You\u2019ll also want to consider the niche for your photography business.<\/p>\n Is your photography geared toward a particular group or segment of the population?<\/p>\n Are you looking to attract a particular demographic?<\/p>\n You’ll have a better chance at success if you start with a specific target audience.<\/p>\n Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p> Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p> Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p> Ensure you build your photography business to meet a specific niche’s needs to avoid overspending and underwhelming all<\/i> of your potential customers.<\/p>\n You\u2019re more likely to succeed if you start your photography business with a specific product or service designed for a particular group of people (for example, wedding photography or non-traditional weddings). And you’ll gain experience more quickly by concentrating on a specific area.<\/p>\n This is true for any business, not just a photography business.\u00a0For example, in our definitive guide on\u00a0how to start a successful clothing brand or clothing line<\/a>, we suggest that aspiring apparel entrepreneurs choose their niche too. Competing is too hard, especially when you start when you don’t specialize.<\/p>\n Here are some niches to consider when you explore the type of photography business you should start:<\/p>\n Whatever type of photography niche you choose, make sure you\u2019re passionate about it. That passion will come through everything you do, and your customers will appreciate and embrace your brand’s authenticity when you deliver photography services.<\/p>\n And be sure you assess your total addressable market<\/a> to help you understand the opportunity better. Not every niche will be equally lucrative for photography businesses.<\/p>\n <\/a> Once you choose a niche for your photography company, it's time to write a business plan.<\/p>\n <\/div> Although a business plan isn\u2019t mandatory when starting a photography business, it can help you crystallize your business ideas<\/a>.<\/p>\n A business plan is a document that outlines your business’s financial and operational goals. The business plan defines your company’s objectives and then provides specific information that shows how your company will reach those goals.<\/p>\n Your photography business plan doesn\u2019t need to be 100 pages long. Numerous excellent templates can help you create a one-page business plan<\/a>. Keep your business plan short and focus on the essential details. Think of your one-page business plan as a way to concisely summarize your business education about photography businesses.<\/p>\n Studies show<\/a> that entrepreneurs who take the time to write a business plan are 2.5 times more likely to follow through and get their business off the ground. The work that goes into creating a business plan also helps new entrepreneurs build skills that will be invaluable later.<\/p>\n Your business plan should include a sales and marketing plan<\/a> that defines your unique value proposition<\/a> and how you will promote your business.<\/p>\n For actionable insights and free downloadable business plan templates, read this definitive guide on how to write a business plan<\/a>.<\/p>\n Before diving into your business plan, knowing the market you\u2019re entering is important.<\/p>\n Business planning and marketing research help you to build a more successful photography business. This is true whether you’re just starting your new photography business or growing your photography business.<\/p>\n For example, if you’re planning to focus on weddings, assess the following:<\/p>\n If you focus on real estate, your target audience might be real estate agents and professional home stagers. So, you’ll need to ask similar questions about that audience.<\/p>\n A lot of the work to come relies on information gleaned from market research. You mustn\u2019t skip this stage so you have the data you need to make informed decisions.<\/p>\n There are two major types of market research: primary and secondary.<\/p>\n Primary research answers some key questions, such as:<\/p>\n You answer these questions by talking to potential customers. Surveys, focus groups, one-on-one interviews, and questionnaires are the tools of choice for primary research.<\/p>\n Secondary research is information pulled from existing sources.<\/p>\n Using currently available data, you can identify competitors and define your market segments or demographics. Key attributes like age range, lifestyle, and behavioral patterns<\/a> are data points used to divide your target customers into segments.<\/p>\n Once you have this information, you\u2019ll refer back to it repeatedly as you build and launch your business. Make sure you spend a decent amount of time collecting data, so your decisions are based on solid research.<\/p>\n Plan for all the necessary legal and logistical business considerations, and you\u2019ll create a strong foundation for your photography business’s successful future.<\/p>\n <\/a> Most small business owners dread talking with and hiring a business lawyer when starting a business. Some fear they\u2019ll pay exorbitant legal fees or receive bad advice that will destroy their business. Others agonize over how to find a reasonably priced, competent business lawyer.<\/p>\n Here\u2019s what you need to know to hire a good lawyer for your new photography company.<\/p>\n <\/div> Most guides on how to start a photography business, or any other small business type, won’t include insights on hiring a lawyer. We think that’s a big omission because many businesses run into legal troubles, and by starting on the right path from the very beginning, you can reduce your business risk.<\/p>\n We\u2019ve met many lawyers who are deal-killers. Overzealous and often inexperienced, they focus on the wrong issues and forget that their client needs the deal to move forward. When you talk with lawyers you\u2019re considering hiring, ask them about one or two complicated negotiations and how they overcame obstacles.<\/p>\n Don\u2019t make price your main criterion for hiring a lawyer.<\/p>\n Often, the least expensive lawyers are also less experienced \u2013 especially in the areas where you may need help. Paying a cheaper hourly rate might feel good initially, but in the end, you may end up paying far more than if you hired an experienced (more expensive) business lawyer<\/a> in the first place.<\/p>\n Ensure your lawyer is familiar with a photography business’s peculiarities, has experience with clients starting a photography business, and has represented other photography businesses and small businesses.<\/p>\n Also \u2013 be clear about your budget and expectations. Your lawyer should understand that your budget is limited, and they should not waste it on irrelevant details.<\/p>\n Typically, the best time to start a relationship with a lawyer is before you start your photography company.<\/p>\n Too many people make the mistake of forming a company without consulting a lawyer. A good lawyer will help you find the right business structure for the business \u2013 and split ownership interests if you have co-owners \u2013 in ways that will protect everyone and give you flexibility going forward.<\/p>\n <\/a> Before starting your photography business, you need to decide on the type of entity you need to register.<\/p>\n Your legal business structure affects everything, from how you file your taxes to your personal liability and whether you need to comply with any special additional requirements at the local, state, or national levels.<\/p>\n <\/div> There are many different types of legal structures for various business entities<\/a>. Choosing the best one for their photography business can feel overwhelming for new business owners.<\/p>\n Here are some of the major business entities you should look into:<\/p>\n As a creative professional, chances are you’re starting small. Setting up a sole proprietorship or partnership may be the best fit if you’re going it solo, especially if your business will be home-based when you start.<\/p>\nHow to Start a Photography Business:<\/h2>
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\nStep 1<\/div>Develop and refine your business idea<\/h2>
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Free Business Startup Kit<\/h2>
Get your free startup kit<\/i><\/a><\/div><\/div><\/div>Free Business Startup Kit<\/h2>
Get your free startup kit<\/i><\/a><\/div><\/div><\/div>Free Business Startup Kit<\/h2>
Get your free startup kit<\/i><\/a><\/div><\/div><\/div><\/p>\nFind a niche<\/h3>\n
Free Business Startup Kit<\/h2>
Get your free startup kit<\/i><\/a><\/div><\/div><\/div>Free Business Startup Kit<\/h2>
Get your free startup kit<\/i><\/a><\/div><\/div><\/div>Free Business Startup Kit<\/h2>
Get your free startup kit<\/i><\/a><\/div><\/div><\/div><\/p>\n\n
\nStep 2<\/div>Write a photography business plan<\/h2>
<\/p>\n<\/div>\nDo market research<\/h3>\n
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\nStep 3<\/div>Hire an experienced business attorney<\/h2>
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\nStep 4<\/div>Decide your legal business structure<\/h2>
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Want a free how to start a sole proprietorship guide + checklist?<\/div><\/div>Starting your own business? Our sole proprietorship guide lays it all out.<\/div>\n