How To Decide Whether To Start Photo Business

[david_janoff]

<p> I'm considering starting a photo business as a sideline. I have no interest in quitting my day job in the short or medium term. My background - military photography, published in an award-winning community newspaper, Stars & Stripes, German news magazine. After the Army, I was with associations for a number of years and did lots of event/awards photos.<br>

Now, I'm strictly amateur, and truly enjoy photography when we travel and have started taking'photo trips' around Washington DC. I've attended a DC Photo Safari session on starting a photo business, but didn't get a sense of 'what questions to ask' as to whether I should really pursue this, and how long do you then market the biz before you decide it's a go/no go?</p>

[mikael_karlsson]

<p>Depends on what you want to do David. Is it stock photography you're thinking about? Fine Art? Portraits? If you can give a little bit more detail I'm sure someone will be able to help.<br /><br />The business stuff should begin with a business plan. All the details depend on your personal details really. I mean if you have $500k in the bank you probably don't need to necessarily turn a profit the first few years, but if you're starting with $1k, that's a different story.<br /><br />Be honest with yourself from the start. And be honest with your spouse/significant other and family. It's important that everyone knows what to expect. Know that you have to spend a lot more time than you think on the business. A lot. Really, and then some.</p>

[john_a5]

<p>If you're not going to do it full time, then it is probably worthwhile looking at what starting a business entails and what you want to achieve with it. Most places, and doing local work, require a resale license so that you can collect sales tax--and report it! Then, most places also expect you to file property tax renditions and pay property tax on your equipment used in the business, including computers, cameras, lights etc.. Many places require a business license and the payment of business taxes (sometimes not required until you reach a certain level of revenues) and there have been places that do not allow running a business from your home (probably more likely certain restrictions). The IRS has certain rules about making money or having the business deemed a hobby and any losses you deducted from your other income can be lost and back taxes collected. Anyway, my point is that if you do it right, there are a lot of requirements to do it right (not sure many in your position actually do it right!)</p>

<p>You have to weigh this all against what you intend to do and if you don't intend (just hope) to make any money, after expenses, then I wouldn't even think about it. I have been incorporated for 15 years, which increased the paper work a bit, but even though I have been a pro at it, I hate the paperwork!</p>

[vincent_peri]

<p>You might want to consult with a Small Business Administration representative. They have many retired businessmen who can help you.</p>

[kevin_delson]

<blockquote>

<p>and how long do you then market the biz before you decide it's a go/no go?</p>

 

</blockquote>

<p>It's always a "go" if it is what <strong>YOU</strong> want.</p>

<p>A good starting point might be here. <a href="http://www.danheller.com/bizfaq.html">LINK</a></p>

<p>There are many avenues and paths to a business in photography.<br>

The business plan is of course a necessity if you want to make a go of it.<br>

Your plan need not be 500 pages in length...Two pages would be a good start to simply focus where it is you want to go as well as defining short term goals. How you arrive at those goals will eventually comprise the meat of your plan.</p>

<p>I believe you will find a business plan is not a static blue print, but rather a very dynamic and flexible road map. </p>

 

<blockquote>

<p>I'm considering starting a photo business as a sideline.</p>

 

</blockquote>

<p>"Sideline" has different definitions; just depends who you ask to define it.</p>

<p> </p>

[eric merrill]

<blockquote>

<p>and how long do you then market the biz before you decide it's a go/no go?</p>

</blockquote>

<p>As long as a business doesn't lose money, it can stay afloat indefinitely.<br>

revenue - expenses - hourly rate * hours worked > 0<br>

At the beginning, you may need to accept an hourly rate less than minimum wage to make this work. :)</p>

<p>Eric</p>

[lisahorton]

<p>To me, the problem with starting a photo business is the "business" part. Some years ago I was asking a similar question, and I did start a sideline photo business. For me, the business part ended up overwhelming the photo part and I ended up closing the business and now I just do stock.<br>

There is a lot of "overhead" time spent just running a business, any business. See John's post for some good examples. There's also the stuff specific to your photo business: phone calls, meetings, making promotional materials, marketing, invoicing, collecting, filing, bookkeeping. I often found that I spent a lot more time on the "other stuff" than on everything directly related to the photography itself.<br>

Also, when you're photographing on assignment, you're not photographing whatever you want, wherever and whenever you want to do it. If you're meeting a deadline and the weather is uncooperative, it <strong>can </strong>be a fun challenge, or it can turn out not so much fun.<br>

Some people can be happy and comfortable running their own business, others not so much. My spouse is the former and really seems to enjoy running the business. I'm the later, so I'm much happier working for someone else, even my spouse. <br>

If the kind of photography you do is well suited for it, stock can be a sweet deal for photography as a side job. You make all the decisions about what to photograph, how, when and where you photograph it. Once you get the photos to the agency, just sit back and collect your royalties. More or less :)</p>

[cathy_and_david_bock]

<p>Personally I feel that anyone who doesn't have the passion to do this as a full time business shouldn't be doing this as a business. ESPECIALLY if there are weddings etc involved. These are the most important times in someone's life, and if they aren't taken seriously enough to enter into full time that's not fair to them. Now if you're just selling pictures on a webiste, that's another story. :)</p>