The Danger In Starting Your Photography Business

19 05 2010

The quickest way to bring in business is to drop your packages well below your competitors. Right? Think again.

Photographers have been playing that game for years. They are new to business, so they head out and comparison shop a few local photographers. Then they low ball it and create their own packages well below the current market. Here’s the problem.

Let’s say the average photographer in your area is currently at $2,000 for a wedding. Three new photographers enter the marketplace this year, and are willing to do it for $1,500 instead. The year after that, three more start up a business, and lowball it once again down to $1,250. After a few years of this, you can see you’re going to have a wide variety of photographers, with starting packages in the low hundreds. Can anyone truly make a business model out of shooting $500 weddings? Even if you photographed one per weekend, you would only be bringing in $26,000 per year – definitely not a full time business model. And there is more work than just the 8 hours the day of the event: meeting the client, production work, education for you, expenses, insurance – and the list goes on.

Pricing Your Photography: How To Set Your Prices To Build  A Six Figure Business

Just because you’re new to the business doesn’t mean you have to charge less than your competitors. You still have a business to run. And if your goal is to become a professional photographer with a full time studio that provides you with a healthy lifestyle, lowballing will only work against the industry, making it more difficult for you to recover over time.

If you need photography skills, attend workshops, training seminars, and classes to perfect your skills before you set up shop. If you need business experience, sign up to work with coaches and mentors that can help you set up a profitable business.

Start out with the end in mind, and it’ll be much easier for you to create the business you’ve always dreamed of.

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