DPChallenge: A Digital Photography Contest You are not logged in. (log in or register) 
 

DPChallenge Forums >> Photography Discussion >> Opening a storefront.
Pages:  
Showing posts 1 - 13 of 13, (reverse)
AuthorThread
 12/08/2004 02:59:09 PM · #1
Well, I've been in business about 15 months now, and all along I've had this idea in the back of my head that I would open a storefront at some point. Currently I have a small studio in my basement, but I mostly do shots on location. It's okay... The ceiling's kinda low and the space is crowded, but for one or two people, or for small product shots, I've made it work.
But now there's a space downtown in my small town for rent and I'm tempted to have a go at owning an actual storefront. In fact, I called on it and the owner and I have agreed on terms and the place will be available January 1 (lucky for me, since retailers aren't usually interested in opening a store right after Christmas). It's a very high-traffic area, full of little craft shops and antique stores. There is another photographer down the street who has an upstairs studio and seems relatively inaccessible. Rent's not too high... I could cover it with only ten or eleven portrait sessions a month (though I don't do ten portrait sessions a month now, I figure that having a presence downtown would make a significant difference). Even if I didn't make that kind of volume, I could still support it with what I make from my current business, but that would be a waste of money...
I figure I can also sell prints, framing and matting services, knick-knacks, and layout design (business cards and posters and such).
Money, while not a survival issue, is an important issue. I'd rather not lose my butt on this venture :) I do have ten years of retail experience, but don't really know the ins and outs of the paperwork side of everything. Naturally the first thing I'll do is hire an accountant!

So that's the scenario and I'd like opinions... Obviously there's no one who can tell me exactly what I should do. But I would like to hear from photographers (or any small business owners) who have had a business out of their home and then opened a storefront or vice-versa. What happened? Were you happy with your choice? Would you have done things differently?
 12/08/2004 03:04:26 PM · #2

I have nothing to offer you but congratulations! This sounds like an excellent move :)

Good luck and enjoy!

Katy
 12/08/2004 03:07:46 PM · #3
Good luck and when you are setting up, just look at the small things that are not efficient, eg light bulbs that take too much power and such. You can save money by being very efficient from the start.
 12/08/2004 03:18:39 PM · #4
Moswyn, you just gotta go for it.

YOu never know unless you try. People have started out with a lot less than what you've described. I'm sure you'll do fine :-)
 12/08/2004 03:51:26 PM · #5
I and Theodor38 are both in our second month of opening up a storefront downtown, and it is really nice having a studio to use. We come off as more professional than those that work from their homes, and give that vote of confidence that we will be around for a while.

As it stands now, I don't think either of us would want to get out of the deal. We really had no clientele prior to this and we are about breaking even, but we have to keep getting other things that separate us from the other studios in town. Props, lights, etc. is something that is a recurring expense.

You have to decide if this is your dream. You have to take the opportunity while it exists. It sounds like you just walked into a good position, as we did. It was too good to pass up, and even if we struggled for a while it would be okay just to have a professional studio.

We bought a sign, business cards, flyers. Set up some galleries at some beauty shops, and advertised by joining forces with established marketing agencies in town that people already subscribed to. We have also made a lot of professional contacts, and things are looking great! GO FOR IT!!
 12/08/2004 04:31:34 PM · #6
Jerry

Are you doing your printing through a local lab or ordering from a lab online?

Originally posted by ijerry:
I and Theodor38 are both in our second month of opening up a storefront downtown, and it is really nice having a studio to use. We come off as more professional than those that work from their homes, and give that vote of confidence that we will be around for a while.

As it stands now, I don't think either of us would want to get out of the deal. We really had no clientele prior to this and we are about breaking even, but we have to keep getting other things that separate us from the other studios in town. Props, lights, etc. is something that is a recurring expense.

You have to decide if this is your dream. You have to take the opportunity while it exists. It sounds like you just walked into a good position, as we did. It was too good to pass up, and even if we struggled for a while it would be okay just to have a professional studio.

We bought a sign, business cards, flyers. Set up some galleries at some beauty shops, and advertised by joining forces with established marketing agencies in town that people already subscribed to. We have also made a lot of professional contacts, and things are looking great! GO FOR IT!!
12/08/2004 05:08:25 PM · #7
Yes, you never know until you try, however i would first write down a business plan, projected cash flow and would take a really good look at the worst case scenario.

If you are producing something you probably are not going to get broke (although 95% of small businesses do), but all those small bills like rent, utilities, accountant, etc. can accumulate pretty fast.

Ask the other photographer how they are doing, does their location really matter? If you don't really get any extra customers, how long would you be able to stay afloat? How many sales do you need to break even? If you do break even and make something on top of that, would it really be worth your while, or are you just going to work to pay rent and make your landlord happy?

Ask yourself all those questions and get very solid answers. Then talk to someone conservative, preferrably with real business experience. Then talk to someone else, preferrably someone who knows local demographics, local people's habits, and so on.

I don't mean to discourage you at all, i think having a business of your own is a great thing, been there, although not in a photo business, but when you do it, one thing that is really important is having a very very sober view of the business matters, current and projected.
 12/08/2004 05:20:51 PM · #8
For all the smaller sizes 8x10 and below we print them ourselves. Other than that we can use a local vendor. We of course charge more than we are charged for those prints that go through another vendor. I can typically get company owners I know to give me a break on price because of the return business.

As for Yurasocolov's comments, I hope I spelled that right! He is absolutely right. Make sure you know what to expect, your income and expenditure projections, know your state laws regarding sales tax issues, and the availability to use your sales tax license to buy supplies tax free. Make clear, concise business plan and stick to it. Try to as many non-variable expenses per month to allow you to budget properly. I have been going to school for 3 years now majoring in Accounting and Business, so that has really helped. When I don't know an answer I can always ask a teacher who has already done it. Our professional friends also help guide us as well, and give us great avenues to optimize our marketing.

The storefront itself has not brought in any new clients, actually I take that back. You see we co-rent with an already established business so that they see our work when they walk in to this other service, so we have had that business owner as a client as well as a client of theirs who has asked for a shoot, but the studio itself has not generated any new clients. Word of mouth, website, and us going out there and talking to people has. Introductory offers, discounts, etc. is a good way to compete with the lower priced competitors while still maintaining mind-share with regards to the price=quality crowd.

We are only doing 2-4 clients a month to break even with our costs. I wouldn't have it any other way! Anything above that is butter, especially a wedding. That is for us. You may be different. Also, you are going to have to find a way to differentiate yourself from the other studios around your area. Why should people come to you? That sort of thing.

Hope this helps!
 12/08/2004 05:24:51 PM · #9
Originally posted by yurasocolov:
Yes, you never know until you try, however i would first write down a business plan, projected cash flow and would take a really good look at the worst case scenario....

Everything Yura just said is on the money. I would add that you need to find a good insurance company who is willing to cover you for errors and omissions (Professional Liability). You may find that certain clients are not willing to contract with you unless you have adequate insurance to back up the contract. I've experienced this first hand and use The Hartford Financial group and would recommend them. Doh! Another business expense you didn't think of! :)
 12/08/2004 06:21:39 PM · #10
Many books/resources for starting and running a business are available from Nolo Press. If you find a title you like, check with your library to see if they have it. Good Luck!
 12/08/2004 09:35:23 PM · #11
Thanks for all the input... It's good to know what others have encountered and what they would suggest. Used to be I was so stubborn that I pretty much had to learn everything the hard way, but think I'd rather take the easy route now... Maybe I'm getting old ;)

So I've been thinking about this all evening (in addition to the thinking I've done in the last three months or so) and I believe we'll go ahead with it. Worst, absolute worst scenario... I give up after a year and I'm out $10 - $15K. Which is a goodly chunk, but not really when you're talking about a business. There *is* a lot that I don't know, but on the other hand, I've jumped feet first into everything I've done thus far and come up swimmingly enough :)

Guess I'll set up an appointment to sign the lease. Will keep you all posted, if you're interested!
 12/09/2004 08:31:02 AM · #12
(bumping for morning)... and still would like to hear from more business folks!
 12/09/2004 10:20:44 AM · #13
Without knowing the demographics, actual products you are to sell, existing contracts you might have, etc, etc, I would suggest two things:

1) make sure that you don't get hooked into signing a long term lease w/ the rental company. I'd hate to see you struggling at 6 months and know that you have a 3 year commitment to the facility.

2) talk with the guy down the street. Not only get a feel for the potential business in the area, but who knows, maybe he's considered it as well. It's a hell of a lot easier to run a shop if you have two (or more) people that join together. You'd mix your clientele, have a backup for each other (what if you get sick?), and have another perspective on ventures you might pursue. If you indeed do decide to join up, here's two other bits of advice: 1) get a business lawyer! Find a reputable one that is not a friend to either of you. Get him to draw up the paperwork, etc. 2) talk with the lawyer about setting up a limited partnership. That way you and your hard earned assets will have at least a little protection in case something goes wrong.

Just some stuff to think about.
Pages:  
Current Server Time: 08/09/2025 10:37:10 AM

Please log in or register to post to the forums.


Home - Challenges - Community - League - Photos - Cameras - Lenses - Learn - Help - Terms of Use - Privacy - Top ^
DPChallenge, and website content and design, Copyright © 2001-2025 Challenging Technologies, LLC.
All digital photo copyrights belong to the photographers and may not be used without permission.
Current Server Time: 08/09/2025 10:37:10 AM EDT.