The photographic industry is one of the most challenging, difficult, and competitive for start up businesses. The statistics prove it. Take this 3 year study discovered by Dane Sanders in his book Fast Track Photographer: In the 1st year, 60% of photographers give up their business. Of that remaining 40%, another 25% will fail within the 2nd year. The ones that make it are the remaining 15% who endure through the 3rd year.
That’s a staggering 85% turnover rate.
Obviously, something is wrong with the way most photographers enter into this business.
So, you want to enter this business? Do your research. In reality, the photographic industry is not about photography. Photography is the end product, yes, but it is only a small percentage of what the industry is about. The rest is about business; Real-to-life business application.
What is the greatest challenge to photographic business? Understanding that many standard business principles apply to this industry, but to a degree, business principles take on a customized spin to photography business.
It’s obvious that photographers need guidance and direction for the specific tasking involved with the photographic business.
The following list is a dream business essentials kit of resources to help you survive the 1st, 2nd, 3rd years and beyond. Remember, foundations are everything. You may need to enter the industry at a slower pace, but have the perspective that you are building your business to last.
Whether you are a naturally business savvy individual, or clueless about business practicalities, this list will assist you to not only survive the photographic industry, but to find the beauty of thriving.
1. Vision Mongers by David DuChemin
Everyone’s path to success is different, because everyone’s definition of success is different. In this book, DuChemin highlights the journeys of nine photographers who have passionately devoted themselves to their craft and their business. You will be challenged, inspired, and encouraged by their stories – and find out if this is an industry you really want to be a part of.
2. Business and Legal Forms for Photographers by Carolyn E Wright
Even a photography business is subject to the law – and those laws may surprise you. Written by a photographer, this book will de-mystify the area of photographic legalities, and give understandable and concise information for you to run your business.
3. The [b] School
Created by the successful “Becker”, the [b] school is a subscription only resource for professional photographers – or aspiring professionals. You must have a business name in use, a web presence, and a desire to get involved with industry leaders. Building relationships with others in the industry will be invaluable to you as you build your business – after all, no one else can help an aspiring professional photographer as well as a professional photographer.
4. Photographic Mentoring
Several professional photographers offer one-on-one mentor programs that will help you dig deep to discover the motivations and foundations for setting up your business. Sometimes you need more clarity than you can give yourself. Dane Sanders, Bride Inspired, Sarah Barlow, Sarah Petty and others will help you build slowly and surely toward your goals.
5. The Photographers Guide to Making Money: 150 Ideas for Cutting Costs and Boosting Profits by Karen Dorame
The opportunities to spend money on photography equipment, supplies, and investments are endless. Don’t spend unnecessarily. Be savvy enough to discern which products and services you should choose to maximize your profits – and which you should do without.
6. News fire / Google reader
If you become like your friends, then it may be safe to say that you will become like the photographers you follow. Take the time to follow and subscribe to photographers whose work inspires you. Study their work, their branding, their business practices; you will be able to consistently glean profitable information – without spending a cent.
7. Café Joy
Sarah’ Petty, a professional photographer for over 10 years has developed the program that she wished she had as a starting photographic professional. Offering both paid and free resources, Sarah’s passion and business sense will help guide aspiring pro photographers to legitimate business depth and practice. Moreover, she guarantees that her resources will indeed help you – or money back.
8. DPBestFlow.org
Developing workflow systems can be a great challenge to photographers because it requires fluid organization and clarity – outside the creative zone. DPBestFlow offers advice and guides on what it means to develop professional workflow to save time and money in your business.
If you slowly incorporate these resources into your research and tasking, you will be set on a more than solid track to any photographic business.
Post from: Digital Photography School – Photography Tips.
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I actually agree that the photography business is not mainly about photography. It’s mainly about getting the results that your client wants and is happy with. You really need to be able to get inside your clients head to understand what they want and are trying to accomplish. That’s an entire skill in and of itself, and IMO the one that matters the most. The photography is important of course, but it’s just a piece of the means to the end. I’ve seen so many people that want to be a photographer then get discouraged when they realize they won’t just be taking pictures all day long. It seems the ones who stick it out are the ones who can deliver the entire package to their clients.
@ Jake – perhaps they are great at photography, but lousy at business. Being extremely creative and talented at what you do does not mean that you have the business sense to be successful.
Let’s see, you have contracts, model relaeses, taxes, scheduling & logistics, accounting, invoicing, collections, perhaps employees, marketing, sales, customer service, negotiation, possible litigation (contract disputes or copyright/licensing issues) vs. photography (i.e. actually pressing the shutter).
Just my take, though. I had a business education before I took up photography.
Cheers!
I suppose the writer meant:
60% of the original number, and
25% of the original number (and not of 40%)
It’s a shame that in the end you say The Photography business is not primarily about photography. I operate under the model of Make Great Photos, Be Smart Marketing and Do Right By the People Who You Work For & WIth.
“Obviously, something is wrong with the way most photographers enter into this business.” …or maybe, they just aren’t that great at photography. Just sayin’.
I enjoyed your article, but the geek in me thinks your 85% figure is off, at least the way I read the calculation the remaining percentage should be 70%.
If 60% fail the first year that leaves your with 40% left at the end of year 1.
If 25% fail the second year that leaves you with 30% of the original 100% left at the end of the year 2.
So what you have is a 70% failure rate over the first two years.
If my logic is wrong or I misunderstood, I’m sorry.
I’m not sure there’s too much wrong with the way photographers enter into the business. Failure rates for all types of start-ups is around 75% within the first two years. AT 85% photography is a little higher, but isn’t too far off the average.
Still, your point is well made, the more you know going in, the better your chances of surviving. Thanks.
Business and Legal Forms for Photographers is a Tad Crawford book, though Carolyn Wright is a wealth of good information also.