Do you have a camera, and you love capturing moments wherever you find yourself? Do you attend functions? Then you can convert this skill into an extensive and lucrative business. In a nutshell, you can make good money and have financial freedom.
Before you go into the photography business, you need to research and plan your strategies for tremendous success in the industry.
Therefore, this article aims to furnish you with a step-by-step approach to starting your photography business.
STEPS TO STARTING A PHOTOGRAPHY BUSINESS
1. Choose what kind of photography service you would want to offer.
People hire photographers for various reasons. For example, a magazine company might need photos for related articles for publishing; realtors might need pictures of their homes for marketing, etc. So your ability to decide on which type of photography will go a long way to helping you choose where to focus, the camera body, lenses, and accessories to purchase.
2. Develop your business
In this step, you need to have a detailed business plan at hand. You outlined the details, including the services you offer, your competitors, financial projections, and marketing strategies you will apply. This is a good time to know your structure of price. An example is choosing to project 13 bookings per year at about $1,500 per wedding. You must not fail to get the cost of equipment, supplies, and travel.
3. Decide your business structure
The lowest cost option is the sole proprietor. However, in the long run, a Limited Liability Company (LLC) could offer better protection of assets if you face legal issues.
4. Create a business name
Creating a business name is very important, as it becomes your brand image. Carefully choose a name that best fits the type of photography you offer. Ensure you select a professional name. Should you decide not to use your given name as a business name, you are likely to file a fictitious business name statement with the relevant organization in your country. The U.S. Patent and Trademark Office is where you may need to visit to ensure your brand is protected.
5. Register your business
As soon as you conceive your business name, the next step is to legalize it. After that, you will need to incorporate your business name with the relevant authority in your country.
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