business: beyond making “extra money” in photography
Over the years I’ve heard amateur and part-time photographers refer to making “extra money” by shooting this or that. There are an increasing number of ways to earn income with photography now that digital technology has made the production and distribution of images more accessible. Whether it’s a foray into microstock or becoming a second shooter on weddings, the door has been opened to more and more people wanting to generate income with their cameras. They don’t claim to be professional photographers, either, they’re just looking to pay off their camera equipment and buy a new lens or two, they admit.
What happens if and when that photographer begins to realize an increasing amount of income from their part-time efforts? They may entertain the thought of becoming a full-time professional photographer, turning their hobby into a business. The potential admittedly looks pretty good when a few hundred dollars here and there from weekend assignments begins rolling in.
At this point I’ve seen more than a few souls buy a new camera, computer and software, all ready to launch their own business, unaware of other necessary expenses. Not just income can be counted now, expenses must also be accounted for (with profitability as the goal). Once photography becomes a business there’s no such thing as “extra money”, it’s either money coming in or going out: an income or an expense.
Have you ever considered turning your photography into a business? Are you earning a little “extra money” with photography and wonder how far that money goes toward supporting your hobby? If so, there’s a nifty calculator on the NPPA (National Press Photographers Association) website that helps you plug in your expenses in order to determine profitability. If you are considering expanding into more paying work then the NPPA calculator will help get your journey started out on the right foot.
Start with their Frequently Asked Questions and then move on to the Cost of Doing Business Calculator.
Yes, I know, we’re photographers and we don’t like to mess with this stuff. The professional photographer that understands business, though, is the one that stands the best chance for a sustained career. My photo studio, Daylight Photo, entered “the black” this past week, we have no outstanding debts, not even a credit card balance. It’s a great feeling!
Note: my two long-time favorite books on the business of photography are Pricing Photography
I really cannot sing the praises of John Harrington’s “Best Business Practices for Photographers” enough: Best Business Practices for Photographers by John Harrington
I haven’t read the other books you mention (I will check them out), but what hooked me on Harrington’s tome has the real-world examples he demonstrates step-by-step, from the client contacting him all the way through the shoot.
We’re still very much in the “start-up” stage and have taken the path of the wedding photographer after looking around our market and seeing where we could use our strengths to compete. Later on, I hope to do more commercial work if it’s available…..one of the reasons I read your blog is the great insight into working in a studio (and running one) - something I never experienced toting a camera in the Marines. I still learn new names for various lights and the concepts of using them every day.
I see a lot of “older” (I refer more to time in the biz than age) photographers at least mildly upset about how a lot of people just do photography on the side for gravy money and it hurts those of us who want to make it a full-time thing. I think it actually helps, for what it’s worth. I already understand the risks and rewards of operating a full-time studio, and now I have to push myself even harder to “make it” since a whole lot of folks have cameras and lenses not that far off from what I’m shooting with.
Helpful post. The calculator is an eye-opener. Everyone thinks if they charge a few hundred dollar, somehow ends will meet. Using the calc, I came up with having to charge well over $1000 per day even to pay myself a very very modest salary (well under what I make at my boring 9-5 job)
Hey Rich, thanks for the tip on John Harrington’s book, I put it on order at your recommendation. I like that you’ve said he describes the whole process of the business, from dealing with the client through to delivery. The whole thing really is a process and every part is important.
As for part-timers cutting in on the profits of professionals, well, that’s a product of modern technology that’s affected a bunch of businesses. We photographers aren’t alone in that, for sure. The key is to keep looking ahead, not back over our shoulders. “Don’t compete; create”.
Jon, I think it’s cool you did the calculation and, as you said, it really is an eye-opener. A little secret, though: I realize starting any business takes risk and a little leap of faith. In the beginning you sometimes just have to jump in the water and see if you can swim. The key, I think, is realizing that you can only “borrow” so much time. Eventually you’ll have to answer to the numbers.
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