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08/01/2007 07:31:32 PM · #1 |
Dear pro photogs, please help me on this.
I'm planning to open a studio/store ( a studio that can anso be a store front for my wedding and portrait business). Nowdays I shoot about 8 weddings per year withought advertising it, just by mouth spread from previous satisfied customers, and from my (laughsy) website.
But the problem is the cost of the store/studio. A good one would be at least 1000€ (1250 USD) per month to rent.
So my question was regarding proftability in this kind of photography. Because I don't have a studio/store to pay I can charge less, so my profit is also less. In the last 3 weddings that I did I had between 350-400E of profit between the bride/groom photos and the prints sold to the atendees. So this means that I must do a lot of works per month to pay bills and to support myself (I still have my fixed job and the photography on the side).
So my question is more or less this:
* How much do you charge and how much profit do you have in your type of photography, special weddings, portraits and books for models, and how many do you do per month to support yourself and your business?
I know that some people might be relutant to anwser this question but I really hope you can gve me your input.
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08/02/2007 08:09:23 AM · #2 |
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08/02/2007 08:54:03 AM · #3 |
Originally posted by Nuno:
Dear pro photogs, please help me on this.
I'm planning to open a studio/store ( a studio that can anso be a store front for my wedding and portrait business). Nowdays I shoot about 8 weddings per year withought advertising it, just by mouth spread from previous satisfied customers, and from my (laughsy) website.
But the problem is the cost of the store/studio. A good one would be at least 1000€ (1250 USD) per month to rent.
So my question was regarding proftability in this kind of photography. Because I don't have a studio/store to pay I can charge less, so my profit is also less. In the last 3 weddings that I did I had between 350-400E of profit between the bride/groom photos and the prints sold to the atendees. So this means that I must do a lot of works per month to pay bills and to support myself (I still have my fixed job and the photography on the side).
So my question is more or less this:
* How much do you charge and how much profit do you have in your type of photography, special weddings, portraits and books for models, and how many do you do per month to support yourself and your business?
I know that some people might be relutant to anwser this question but I really hope you can gve me your input. |
I don't have a dedicated studio as a separate building/facility. It simply costs too much and even though I might be able to afford it, it would eat up too much profit to be useful. A great many photographers don't have a studio, they simply rent one when they have need.
My opinion is that you should grow your business a bit more, working as you are now, before committing yourself to that much fixed overhead cost until you know the money to pay that fixed overhead will come. |
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08/02/2007 09:14:44 AM · #4 |
I think that the purpose of a good store in a good location is to bring in passing trade. This is what you are paying the premium in the rent for.
If you are only planning to use it as an occassional studio and meeting place and to keep your day job, then you will be wasting all of the potential footfall. If you quit your job, work full time in the store, then you will have to use it to encourage enough extra business to pay for the extra rent.
The rent is assessed by reference to what an average business operating in that location should be able to make and therefore afford. If your business won't make enough extra money from that location, then you need to find another location or space that will give you enough facility and extra trade without using up all your profit, or find another business model.
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08/02/2007 09:15:15 AM · #5 |
| how often do you need a studio? |
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08/02/2007 09:26:23 AM · #6 |
| One thing to keep in mind too is the extra overhead on top of the rent. Utilities, insurance, etc, etc, will take it much higher than expected. |
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08/02/2007 09:32:39 AM · #7 |
you don't need a studio if all you do is weddings.
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