Photography industry has experienced substantial change in recent years. Consumers can now take professional-quality images without the assistance of any additional services.
Revenue in this industry is still projected to grow slightly in the coming years. Professional stores will need to focus on various niche markets to meet consumer demand.
The industry has high labor costs, so investing your own time early on helps reduce financial risk.
This is yet another industry where you can start right out of your own home. However, you might also consider a photography business for sale.
Before you jump right in, be sure you have a strong technical skill in the field. You can learn as you go, but not everyone is capable of doing that successfully.
Aside from having the technical skill, be sure you understand the realities of running a business. Be prepared to spend extensive time and energy helping the company grow.
You will most likely end up spending more time running the company than taking pictures. This is especially true during the initial phase of operating your company.
Equipment costs can run rather high. You don't need everything to start out, but this will probably be your greatest long-term investment. You will need two of everything - having a backup is a key to beginning success.
Do undercut your competition to get started, but don't undercut by a large margin. You will end up harming yourself and the industry as a whole. You could call it an "introductory rate" and then charge your regular rate later on.
If you are not all that confident in your own skills, seek out a mentor. But, seek one at least thirty or more miles a way. Mentors will help, but they do not want to train their future competition.
Finally, figure out who you are as a person and determine your own personal artistic style. Learn from other artists, but don't copy their style outright.
As with anything, the key is practice. Take hundreds and even thousands of photographs and learn how you can improve them. Send them to your mentor and ask for feedback.
If you are considering selling a photography business, you may not be able to get the best price. Demand is present, but it is not strong. However, if buying a photography business is on your mind, you may be able to find a good deal at this time.
About the Author
This Wiki was written by Andy White, CEO of Biz Trader .