| Author | Thread |
|
|
03/04/2005 11:28:56 AM · #1 |
| You have saved $5,000 to start your own home based photography business. Let's assume all you have is a camera, a computer, and a copy of Photoshop. How do you spend your $5,000? I'm curious to see how different people would invest this money in their business. |
|
|
|
03/04/2005 11:30:22 AM · #2 |
| Does the camera include lenses? |
|
|
|
03/04/2005 11:31:49 AM · #3 |
Iam in the same perdicament i have a little more to spend but i still dont know what to do
|
|
|
|
03/04/2005 11:34:15 AM · #4 |
I would immediately plan trip to places I want to see. Ehm, ofcourse I will take lots pictures every where to help support my non-existing business :D
|
|
|
|
03/04/2005 11:36:57 AM · #5 |
| I'd put most into studio lights, backdrops, etc., then work on promotional materials (samples of your work) and business cards. |
|
|
|
03/04/2005 11:37:54 AM · #6 |
I'd spend a certain amount of it getting large, good quality prints made and matted and working on getting various galleries to carry them.
I might also pay for some targetted ads in local papers or relevant magazines.
And of course I'd upgrade my equipment as necessary.
Actually this is really just idle wonderings as I have never wanted to start a photography business as a full-time career anyway.
I'd use the money to help find avenues to sell what I produce in my leisure time though!
Message edited by author 2005-03-04 13:20:44.
|
|
|
|
03/04/2005 11:49:08 AM · #7 |
probably want to get a back up camera, some lenses, lighting, backdrops, advertising, brochures.
Man, after all that, would $5k be enough? Well maybe at least for the basics like lighting, backdrops, and lenses. |
|
|
|
03/04/2005 12:02:01 PM · #8 |
I'd use the free resources at the local small business development center to write a business plan. I'd pay special attention to any information they have about small business loans. Then I'd take my $5,000 to a bank that would help me start up with a good investment.
I'd be sure to use a small portion of the funds to join the local county-wide chamber of commerce and any other business associations. Not only are they likely to be some of your first customers, many such groups offer member-to-member discounts or have trade for in-kind services. They may offer free online advertising, links to your web-site, meetings or seminars at a reasonable fee, etc. The people you meet are the ones who will tell you which accountants and lawyers are good and which are not to be trusted.
Meanwhile, I'd be at my local library checking out anything remotely related to my goals and consulting with the reference librarian on any other local resources I may have overlooked. |
|
|
|
03/04/2005 12:39:37 PM · #9 |
First things first - what kind of home based photography business are you starting?
-wedding photography?
-portraits (in your studio, on site or rent a studio)
-aerial?
-school/church/etc portraiture?
-scientific (macro or other similar)
-architectural
-stock photography
-fine art
-sports or news photography
Once you have an idea of what you are going to take pictures of, THEN you can make a shopping list.
For instance, I have a 70-300 lens and Cokin P filters (incl a PL) on my list. If i want to take up wedding photography, then the PL is not needed nor is that lens, but a flash and maybe a fast lens would be better, or a wide angle lens.
If you are selling your services ahead of time, a web site and portfolio, biz cards, etc are vitally important. If you are making fine art or planning to take pics of your choice and sell them already matted or framed, then mat cutting tools and framing stuff is more important. If you plan on doing mostly stock photography, then you have no need for any output, but highspeed internet might be the most important item.
Unless you ask the right questions, the answers are meaningless.
|
|
|
|
03/04/2005 01:10:02 PM · #10 |
Spend the $5,000 in training for a high paying job so you can fund your photography habit :)
|
|
|
|
03/04/2005 01:18:14 PM · #11 |
Originally posted by matiscro:
You have saved $5,000 to start your own home based photography business. Let's assume all you have is a camera, a computer, and a copy of Photoshop. How do you spend your $5,000? I'm curious to see how different people would invest this money in their business. |
This is a completely meaningless question without more clearly defined parameters. About the only universally correct partial answer would be "I'd use "x" amount of it to buy a business license and (if applicable) register my DBA 'ficititious name'." Close behind would be to register a domain name and get a web site running. Anything else depends on what you have and what your business plan is.
Robt.
|
|
|
|
03/04/2005 01:19:39 PM · #12 |
Originally posted by matiscro:
You have saved $5,000 to start your own home based photography business. Let's assume all you have is a camera, a computer, and a copy of Photoshop. How do you spend your $5,000? I'm curious to see how different people would invest this money in their business. |
If it were me, I could assume that it would be for documentary or news photography...
I'd start with a cheap scanner, a 70-200f/2.8 Non-IS, a good website, good business cards, a nice portfolio setup, two ex550's and cordage...and some gas money.
Message edited by author 2005-03-04 13:21:07.
|
|
|
|
03/04/2005 01:35:53 PM · #13 |
Originally posted by bear_music:
Originally posted by matiscro:
You have saved $5,000 to start your own home based photography business. Let's assume all you have is a camera, a computer, and a copy of Photoshop. How do you spend your $5,000? I'm curious to see how different people would invest this money in their business. |
This is a completely meaningless question without more clearly defined parameters. About the only universally correct partial answer would be "I'd use "x" amount of it to buy a business license and (if applicable) register my DBA 'ficititious name'." Close behind would be to register a domain name and get a web site running. Anything else depends on what you have and what your business plan is.
Robt. |
This would be meaningless if the question I asked was "what should I do with $5000?" I asked "What would you do...?" the key word being "you." The whole point was to see how different people on this site would spend the money on the kind of photography business they would start, not me. |
|
|
|
03/04/2005 01:51:26 PM · #14 |
I'd just get drunk, and start working again when the money runs out.
|
|
|
|
03/04/2005 01:53:45 PM · #15 |
invest in some lights, a great printer, and advertising. I spend a good amount of money each year on advertising, and it definately pays off.
|
|
|
|
03/04/2005 01:56:43 PM · #16 |
Originally posted by matiscro:
Originally posted by bear_music:
Originally posted by matiscro:
You have saved $5,000 to start your own home based photography business. Let's assume all you have is a camera, a computer, and a copy of Photoshop. How do you spend your $5,000? I'm curious to see how different people would invest this money in their business. |
This is a completely meaningless question without more clearly defined parameters. About the only universally correct partial answer would be "I'd use "x" amount of it to buy a business license and (if applicable) register my DBA 'ficititious name'." Close behind would be to register a domain name and get a web site running. Anything else depends on what you have and what your business plan is.
Robt. |
This would be meaningless if the question I asked was "what should I do with $5000?" I asked "What would you do...?" the key word being "you." The whole point was to see how different people on this site would spend the money on the kind of photography business they would start, not me. |
Then why didn't you say so? The original post sort of sounded like you were seeking advice, sorry for misunderstanding.
Have at it people!
Robt.
addendum: I guess you sort of DID "say so", I was reading something into it that wasn't there.
Message edited by author 2005-03-04 13:57:41.
|
|
|
|
03/04/2005 02:03:55 PM · #17 |
Originally posted by bear_music:
Then why didn't you say so? The original post sort of sounded like you were seeking advice, sorry for misunderstanding.
Have at it people!
Robt.
addendum: I guess you sort of DID "say so", I was reading something into it that wasn't there. |
No worries. I guess maybe it's a strange question to pose. It was just a way to initiate creative business thinking. These are the kinds of conversations I like. |
|
|
|
03/04/2005 04:05:35 PM · #18 |
Well, then more to the point...
I am pursuiing entry into the wedding and portrait photography biz...I don't need no $5,000 to start.
I gots me a digital rebel, 50mm 1.8, 28-80, 135mm f2.8. I have PS 7, neatimage (free copy ...) and a dumb flash and some memory cards.
To shoot my first wedding i want/need more memory, more battery, a dedicated flash (still torn between sigma DG500 super and ex550).
Biz card and website i can make. $10 gets me a .com.
The technical details of DBA, etc can wait.
Next on the list would be AB800s (2) and backdrop, perhaps portable power for them. A Quantum flash lookls cool too, but I cam make do with a DG500 for a while (a quantum and battery pack will run close to a grand).
The sticking point is hte portfolio. Cheap enough to make one in materials cost (well under $100) BUT one needs the PHOTOs! I have some weddings lined up to test shoot for my portfolio, but since folks book wedding a year or more in advance, i likely won't see dime 1 for anohter 18 to 24 months...and the deposits can be used to fund what i need then.
Mostly what i need is the fortitude (i.e. balls) to go and get me a paying customer. Confidence comes with experience (or alcolhol).
|
|
|
|
03/04/2005 06:33:02 PM · #19 |
| I would sell my 10D, my canoe, everything in the garage, all my belongings not in the garage and the tires off the car and buy a 1Ds Mark II. |
|
|
|
03/04/2005 06:37:56 PM · #20 |
Originally posted by canoe3k:
I would sell my 10D, my canoe, everything in the garage, all my belongings not in the garage and the tires off the car and buy a 1Ds Mark II. |
if i had one hobby (or no wife) that would be doable. I have friends that spend thousands on motorcycles...and cars, etc. I WANT one very much, but it will be the mark 3 maybe..,you know, the 20Mp replacement for $3,000 due out in 18 months. If i can get the wedding bit to take off, no probs!
|
|
|
|
03/04/2005 06:52:10 PM · #21 |
| A couple of new lenses, speedlight, portable file transfer device. Website, business cards, promotional materials like flyers, etc., then advertise like crazy. Maybe some PhotoShop classes. |
|
|
|
03/04/2005 07:09:40 PM · #22 |
Originally posted by Prof_Fate:
The sticking point is hte portfolio. Cheap enough to make one in materials cost (well under $100) BUT one needs the PHOTOs! I have some weddings lined up to test shoot for my portfolio, but since folks book wedding a year or more in advance, i likely won't see dime 1 for anohter 18 to 24 months...and the deposits can be used to fund what i need then.
|
Don't bet on it! I've had people book me only a month in advance (or even two weeks in one case!) |
|
|
|
03/04/2005 07:17:44 PM · #23 |
Away from the photography business and more on business itself. The underlined concept is making money. I would start very small doing portraits a hugh market is high schoolers I would do just portriats and purchase equipment that would enable me to do just portraits and as the money starts flowing in I would increase to weddings. Each part of photography requires unique equipment as far as portraits I would start with backgrounds, lighting, props things entitled towards portraits only. You would be amazed at what you can do with just small amounts of equipment. You have to think to yourself the major markets your going start with are small your not going to do a magazine shoots people arent expecting high class paris hilton shots there expecting pictures that they could get at there local photography joint your doing small portriat work, the target is magazine shoots but that comes later as time and equipment porgresses. You can put a simple package together for portraiture and do just friends, family and get a portfolio of your work together. Word of mouth is the best advertising money can buy if you can produce half what the pros can you can make it a long way. You have to provide a product that can be compared to the pros if not less but at a cheaper price than the pros. Using you unique abilities to make a unique market segment. Photoshop is a wonders imagine going away from basic editing and using very high editing and making pictures look remarkable and unique compared to regular high school graduation pictures. The standard custom for high school senior pictures is so simple and can be vamped to a whole new level with ease. Think wisely think three times before purchasing a piece of equipment. Thinking can that piece of equipment be used for more purposes that one. There are many things you can make do with and many thinks you can brainstorm ideas for just takes a little time and thought. Books tons of books and reference material online for taking portraits.
Sorry for jumping around so much but I had a lot of thoughts all at once.
I am no expert in the photography field. I couldnt tell you fstop to gstop but I am a sucessful hotel and computer consulting firm owner and I started with a small amount of change. Borrowed money from friends to create a 300,000 dollar down payment for a 2.5million dollar hotel. 4 years standing today I have 1/3 of the way paid on my loan and I just turned 26. Relax and think....think 3 times before making a decision on something. Finally take the risk you can only go forward if you take the risk.
|
|
Home -
Challenges -
Community -
League -
Photos -
Cameras -
Lenses -
Learn -
Prints! -
Help -
Terms of Use -
Privacy -
Top ^
DPChallenge, and website content and design, Copyright © 2001-2024 Challenging Technologies, LLC.
All digital photo copyrights belong to the photographers and may not be used without permission.
Current Server Time: 04/19/2024 11:26:06 AM EDT.
