The photography business has two primary requisites; first, you need skills and talent to take good photographs, and second and more importantly, you need to be a good businessperson to turn your skills into money. That is why photography business goes beyond the art of taking pictures. It also encompasses areas such as management of time and finance, marketing and legal technicalities.

Different options

The field of photography is very wide. The two broad options available for individuals who want to set up a creative photography business are the following:

Assignment Photography: In this, a client hires you to click snaps of a particular object, event or person. In this case, your remuneration is guaranteed either before or after the assignment is completed. These may include news photographs or event photographs like fashion shows, advertising etc

Stock Photography: In this case, you click scores of photographs based on your gut feeling. You experiment by clicking snaps in different modes, angles and lights, and then you pass them along to publications for usage. Your photographs may or may not get picked. But the outlets where you can sell these photographs are newspapers, magazines, brochures, calendars, web sites, etc. Even commercial and educational establishments may buy stock photographs at low cost.

The third option is not the creative option. It involves setting up a home studio to take photographs of families and social functions. This too provides a regular stream of income. However, the demand for this business is coming down with the arrival of digital cameras.

Business Plan

Your passion for taking snaps will get converted into a photography business only once you have a proper business plan in place. There are several advantages of having a well chalked-out business plan. These include: chalking up targets, defining strategies to achieve these goals, understanding the financial abilities and constraints of your business, classification of potential clients and assignments and planning marketing strategies.

These are functional advantages. You may also need to present this plan to a funding agency to fund the purchase of equipment, which may easily cost anything from $2,500 to $25,000 depending upon the kind of equipment you go for. So, draw up a business plan before you get into photography business.

Equipment

The kind and type of equipment you purchase for photography business depends on your budget. But in general, every photography business entails the purchase of cameras, lenses, tripods, filters, electronic flash units, studio lights and stands, seamless paper and other backgrounds. You also need to stock good quality film that will last your needs for one to three months.

In addition, you need to take stock of other equipment that may be needed by your business such as computers, telephones, office furniture, darkroom gear and so on.

Registration and Insurance

Like any other commercial activity, the photography business too needs to registered. In case of such a business based mainly at home, and which is a sole proprietorship, you only need to register your business in the county office or town hall and file a “doing business as” (DBA) form for a small fee.

Insurance is another important aspect for your business. Your equipment does not come cheap, and often is a target of angry mobs. You must therefore buy insurance to protect yourself, your clients and your equipment from all possible damage within or outside your studio.

Business Promotion

Publicity and promotions are must-haves for your photography business. These tools help to enhance your reputation, to network and practice relationship marketing, and to gain useful information about your target market. Portfolios are another must. Once you have put together an assortment of your sample work, half your work is done. This portfolio, when shown to prospective clients, is a sure shot way of pulling in the assignments for your photography business. Also, you must participate in your local chamber of commerce, photography associations and other professional organizations since this is the best way to build up tour clientele and establish your presence.