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Photography Business Plan

Believe it or not—anyone can take a few pictures, but it takes true skill and talent to get the perfect shot.

And If you’re the guy, everyone’s after asking to click pictures at every party or event, starting a photography business could be incredibly lucrative and satisfying.

However, making your photography business successful is more than just clicking good pictures. You need a solid business plan to ensure success.

Need help writing a business plan for your photography business? You’re at the right place. Our photography business plan template will help you get started.

Download the template and follow step-by-step instructions to draft your business plan in no time!

→ Download Now: Free Photography Business Plan

And though photography lets you fulfill your passion, it attracts a lot of competition due to its ease of entry.

Also, having a successful photography business takes a little more than skill. A photography business plan helps you deal with that, while you shutter away your masterpiece.

Industry Overview

According to the IBIS World industry report , the US photography market is expected to decline at a CAGR of 1.3 to reach 12.9 billion dollars in 2023.

With 7-8% profit margins, individual consumers and households make up the main customer base for the industry. Despite a minor recent decline, the photography industry is projected to experience consistent growth in the coming years.

Here are a few key industry highlights to consider:

• Number of businesses: There are 258,450 operational photography businesses in the US in 2023.
• Industry employment: 293,339+
• Key players: Shutterfly Inc., Alamy Ltd.

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Things to Consider Before Writing a Photography Business Plan

You’ll need to focus on both the artistic and business sides of your trade.

Though having an excellent eye for proportion, dimensions, and light is great it isn’t enough to have a profitable business. You bring your skills to the table, but you’ll have to work as hard as any other business owner on your marketing, finance, and operations to have a profitable business.

And though it might seem intimidating, with the right amount of planning and strategizing you can do it smoothly.

Get the Pricing Right

It is important to study every aspect of the market and select the pricing strategy that suits your business the best. Your pricing as a photography business would depend a lot upon the niche you choose, your location, and the quality of your skills.

Develop Your Soft Skills

Good photography isn’t just about your skills with the camera, especially if you are dealing with people. You’ll need to make your customers feel at ease and have a friendly way of communicating.

This helps you become the person’s go-to photographer. As pictures aren’t just products you pay for, but memories that are cherished for years.

But at the same time, if communication isn’t your thing you don’t need to worry. As there are several other niches in photography that you can pick from.

Get the Right Equipment, but Don’t Go Overboard

The right camera, technical equipment, etc, are important to help you work effectively. But it doesn’t do to go over budget for it. Especially, if you are just starting out.

Pick the right equipment, but not the one that weighs down on your finances at the early stages of your business.

Why Do You Need a Photography Business Plan?

As you are ready to enter the industry, it brings us to the above question, why does one need a photography business plan?

Aren’t you just supposed to dive right in if you are passionate enough?

The answer is, NO.

Though diving headfirst might sound appealing, it can lead to a series of roadblocks in the future. Also, a business plan isn’t as time-consuming as it may seem to you.

It increases the efficiency of your business and acts as a guide on your road to success. Moreover, writing a business plan helps you get a clear idea of your goals and the opportunities and threats that stand in your way of achieving them.

Also, a well-researched and innovative plan can help you get funded. An investor’s confidence in you is directly proportional to the clarity of your business idea. A business plan can help you achieve just that.

How to Write a Photography Business Plan?

Writing a business plan is not as intimidating as it seems. A well-rounded business plan requires thorough research of the industry, a clear set of goals, well-observed and carefully designed strategies to achieve them, and a clear list of milestones and timelines for all the departments of the business.

A business plan should include strategies for all departments from marketing to finance. There are several resources like online software, business consultants, and predesigned templates that can help you in writing the perfect business plan .

Writing a business plan has become a cakewalk through online business planning tools which can craft an ideal business plan for you at the snap of your fingers.

Chalking out Your Business Plan

Though anyone can click pictures with devices as simple as a smartphone, it takes skills, a sense of proportion, and creativity to make people stop scrolling.

In today’s world of photo-sharing apps where people grapple for attention, the demand for excellent photographers continues to rise.

Hence, with the advent of Instagram, the photography industry is growing leaps and bounds.

Photography Business Plan Outline

This is a standard photography business plan outline that will cover all important sections that you should include in your business plan.

• Introduction
• Products and Services
• Financial Path To Success
• Keys to Success
• Company History
• Market Segmentation
• Target Market Segment Strategy
• Competition and Buying Patterns
• Web Plan Summary
• Website Marketing Strategy
• Development Requirements
• SWOT Analysis
• Competitive Edge
• Marketing Strategy
• Sales Forecast
• Year 1 – Digital Media Production
• Year 2 – Digital Media Production
• Year 3 – Digital Media Production
• Important Assumptions
• Projected Profit and Loss
• Projected Cash Flow
• Projected Balance Sheet
• Ratio Analysis

As you sit down to write your business plan, it brings us to the question, what all things you will need to include in your business plan? Read on to find out.

1. Write an Executive Summary

The executive summary section of a business plan works as an overview of your business and acts as a highlight of its aims and goals. It should be brief and precise and sum up everything your business stands for.

It serves as a pitch of your business ideas to potential investors and should have the following points.

• The kind of services your business offers (Eg. Commercial Photography, Travel Photography, etc.)
• Your target audience (Eg. Models, travel bloggers, influencers, etc.)
• Your strengths and past experiences
• Your goals for the company.

2. Business Overview

In the business overview section, you’ll jot down all of the business ideas you have and analyze how to bring them to life.

This section would consist of an overview of the functioning of your business. as well as your mission statement.

While writing this section it is important to be as precise as possible It helps the stakeholders of your business to know it better.

3. Describe the Services You’ll Offer

In this section of your business plan, you have to list the services you are going to offer. This helps you get a clearer idea of how to advertise your services and how to reach out to your target audiences.

For example, if you are a landscape photographer all of your marketing strategy and the list of resources and services you’ll need will be built around that.

Also, your target audience would be travel websites and tourism companies. And the ways of reaching out to them would be different than reaching out to influencers or celebrities.

4. Market Analysis

The market analysis section is a crucial part of your business plan.

In this section, you’ll write down everything you can find about the photography market as well as resources that can help you stay updated about the recent trends in the market.

For example, as a photographer, it is essential to know the trending photography techniques.

You can also include the size of the market, your competitors, areas that have the highest growth potential, etc Know the right market value of services and identify the existing market gaps that you can fill.

Let’s consider there is no food photographer in your locality and the restaurants around you need one, you can specialize in food photography to capture that market.

5. Create a Website Strategy

The Internet is the first place where people look for any product or service, hence your business must have a website to be discovered by clients.

A well-optimized website can help you in meeting a lot of potential customers.

Including a website strategy in your business plan is crucial.

6. Plan Your Finances

Your financial planning is one of the major deciding factors of whether your business will stay afloat or not.

In this section keep track of your company’s finances, jot down ways of making it more cost-effective. List down resources that can help you understand and manage your finances better.

Download a sample photography business plan

Need help getting started writing a business plan? Here you go; download our free photography business plan pdf to start.

It’s a modern business plan template designed for your photography center. Refer to the example business plan and follow step-by-step instructions to start writing your plan.

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Write your business plan with Upmetrics

A business planning tool like Upmetrics is the best way to draft your business plan. This incredible tool comes with step-by-step instructions, customizable templates, AI assistance, and business plan examples to help you get started.

You may also explore our library of Entertainment and media business plan examples before you start writing your plan.

So, whether you are starting a photography business or planning to grow an existing one, Upmetrics is the tool you need to create a business plan.

So, what are you waiting for? Start planning now!

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10 Key Components of Business Plan

Frequently asked questions, what are some common mistakes to avoid when drafting a photography business plan.

Following are some of the common mistakes to avoid when writing a photography business plan:

• Inadequate and inaccurate financial projections.
• Poor market research and ignoring industry trends.
• Undefined goals and lack of details.
• Not proofreading the document for typos and grammatical errors.
• Including outdated and irrelevant information.
• Not regularly updating your business plan.

What are some key financial metrics to include in a photography business plan?

Following are some of the key financial metrics to include in your photography business plan:

• Balance sheet
• Cash flow statement
• Income statement
• Break-even statement
• Projected business ratios
• Sales and revenue projections
• Projected expenses

How can a photography business plan help in securing funding or investment?

A well-crafted photography business plan will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping you secure investment.

Where to find business plan writers for your photography business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your photography business plan and outline your vision as you have in mind.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Photography Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their photography businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a photography business plan template step-by-step so you can create your plan today. It can be used to create a photography studio business plan, or a commercial photography business plan or a plan for any other type of photography business.

Download our Ultimate Photography Business Plan Template here >

What is a Photography Business Plan?

A business plan provides a snapshot of your photography business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Photography Business

If you’re looking to start a photography business or grow your existing photography business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your photography business in order to improve your chances of success. Your photography business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Photography Businesses

With regards to funding, the main sources of funding for a photography business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a photography business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

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Below are the 10 sections of an example photography business plan:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write since it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of photography business you are operating and the status; for example, are you a startup or do you have a photography business that you would like to grow.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the photography industry. Discuss the type of photography business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of photography business you are operating.

For example, you might operate one of the following types:

• Portrait photography : this type of photography business photographs people ranging from models to famous personalities on red carpets or at magazine shoots to graduation pictures, family portraits, and professional headshots for business people, aspiring models and actors.
• Product photography : this type of photography business typically requires both artistic and technical expertise to adequately showcase consumer products.
• Wedding and event photography : this type of photography business usually involves photographing everything from posed portraits to people and their candid moments to the venue and the food at weddings and other events.
• Commercial photography : this type of photography business creates images for commercial purposes, such as advertising, marketing or instructional brochures or publications.

In addition to explaining the type of photography business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, prestigious clients, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the photography business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the photography industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards documentary-style event photography, it would be helpful to ensure your plan calls for instant cameras for guest contributions, or a drone, etc.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your photographer business plan:

• How big is the photography business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your photography business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your photographer business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: celebrities, expectant and/or new moms, engaged couples, schools, online retailers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of photography business you operate. Clearly schools would want different backdrops, pricing and product options, and would respond to different marketing promotions than engaged couples.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most photography businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other photography businesses.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes amateur photographers and DIY-ers with smartphones. You need to mention such competition to show you understand that not everyone who needs photography uses a professional photographer.

With regards to direct competition, you want to detail the other photography businesses with which you compete. Most likely, your direct competitors will be photography businesses offering similar services in a nearby location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What services do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior photography services?
• Will you provide products or services that your competitors don’t offer?
• Will you make it easier or faster for customers to book your services?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a photography business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of photography business that you documented in your Company Analysis. Then, detail the specific products and services you will be offering. For example, in addition to portraits, will you offer a documentary video of the shoot?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the menu services and packages you offer and their prices.

Place : Place refers to the location of your photography business. Document your location and mention how the location will impact your success. For example, is your photography studio located next to a high-traffic retail development, or inside a mall, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your photography business marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your photography studio’s storefront (if applicable) extra appealing to attract passing customers
• Advertising in local papers and magazines
• Social media marketing
• Reaching out to local bloggers and websites
• Partnerships with local organizations (e.g., package discount when booked through partner wedding planner)
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your photography business such as serving customers, procuring supplies, scouting new photoshoot locations, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

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Management Team

To demonstrate your photography business’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the photography business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 10 customers per month or 50? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your photography business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 product photography contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a photography business:

• Location build-out including design fees, construction, etc.
• Cost of equipment like cameras, lights, film, backdrops and props, software, etc.
• Cost of ingredients and maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your studio design blueprint or location lease.

Photography Business Plan Summary

Putting together a business plan for your photography business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the photography business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful photography business.

Download Our Photography Business Plan PDF

You can download our photography business plan PDF here . This is a business plan template you can use in PDF format.  

Photography Business Plan FAQs

What is the easiest way to complete my photography business plan.

Growthink's Ultimate Photography Business Plan Template allows you to quickly and easily complete your Photography Business Plan.

Where Can I Download a Photography Business Plan PDF?

You can download our photography business plan PDF template here . This is a business plan template you can use in PDF format.

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Other Helpful Business Plan Articles & Templates

How To Write a Winning Photography Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for photography businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every photography business owner should include in their business plan.

Download the Photography Business Plan Template

What is a Photography Business Plan?

A photography business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Photography Business Plan?

A photography business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Photography Business Plan

The following are the key components of a successful photography business plan:

Executive Summary

The executive summary of a photography business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your photography company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your photography business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your photography firm, mention this.

Industry Analysis

The industry or market analysis is an important component of a photography business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the photography industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, customers of a photography business may include individuals, families, small businesses, or corporations.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or photography services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. In addition, you may promote your photography business via public speaking engagements, trade shows, or partnerships.

Operations Plan

This part of your photography business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a photography business include reaching $X in sales. Other examples include hiring a certain number of employees, partnering with another company, or opening up a second location.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific photography industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Photography Business

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Photography Business

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup photography business.

Sample Cash Flow Statement for a Startup Photography Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your photography company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is essential for any photography company looking to start, expand or grow its business. It can also help attract investors.  

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How to Start a Photography Business in 2024

Want to learn how to start a photography business in 2024? This in-depth guide will teach you all you need to know to become a professional photographer!

Learn | Photography Guides | By Mark Condon

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Want to learn how to start a photography business in 2024? This in-depth guide will teach you all you need to know!

I’ve run a wedding photography business since 2014 and learnt a lot as a professional photographer and business owner.

Starting a photography business allows you to make money using a skill you already enjoy, but it’s important to have a solid plan and realistic goals.

There’s no doubt that photography is a great career – you can earn a good living, make your own hours and travel to exotic places.

Best of all, you’ll make people happy. Whether you’re capturing priceless moments for families or nailing the client’s brief, photos are a precious commodity.

Is photography a good career? Definitely! It was one of the best decisions I ever made.

Now it’s your turn to learn how to start a photography business.

Table of Contents

How do I Start a Small Photography Business?

Reduce risks with a home-based photography business.

Not many professional photographers go from zero to renting a studio – most start off with a home-based photography business, where costs can be kept to a minimum.

As a small business owner, keeping costs low should be a priority, and running your photography business from home is highly recommended.

At this stage when you don’t even have a business plan, all you need is a place in your home from which to work – some private ‘office space’. If you’re using a laptop, you don’t even need a desk!

If you need to meet clients to book work (e.g. for wedding photography), you can do as I did and meet them in a local cafe – clients don’t expect to come to your home, even if you list your home address as your business address.

Decide what types of photography services you’ll offer

Credit: Szabo Viktor

What type of photography is most profitable? You can build a successful photography business by shooting commercial/advertising, event (weddings, corporate, etc), family (maternity, etc), freelance or stock photography.

However, it’s much harder to start earning money as a commercial photographer than, say, as an event photographer.

Also, while stock photography is a good passive source of income , freelance photography allows you to cast a wider net.

When starting your own photography business, it’s important to balance your passion for a specific genre with realistic goals.

Consider whether there’s a market for a particular type of photography in your area, for example.

I chose to focus on wedding photography since there’s a big market for wedding photographers where I live. I also thought shooting weddings would be fun and exciting, and I could also offer mini sessions , pre-wedding shoots and other related services.

You may want to offer several photography services under one unique photography business name , but I recommend focusing on just one genre to become a ‘specialist’.

You need to be the go-to photographer for a certain genre of photography – not the person who shoots everything since this can appear a little amateurish.

That said, there’s always the option to become a professional freelance photographer to offer a selection of different services.

Develop a basic photography business plan

Credit: Galymzhan Abdugalimov

Perhaps one of the most challenging aspects of creating a photography business is to know how to actually start.

A photography business plan is the first logical step to setting up a strong base camp that will allow you to build up your business without feeling overwhelmed.

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What goes into your plan may vary, but at a minimum, you may want to include:

• Executive summary: You can start your photography business plan with an executive summary that defines what your general objectives are as well as your key factors of success.
• Company overview: Do an outline of the organizational structure of your business according to the terms of the area you are in. Will you be the sole proprietor? Will it be a limited liability company? What will be the business structure? Do you need business licenses? Will you have a business partner? What type of business will you run?
• Products & services overview: It’s important to create a detailed description of the products, services and prices you’ll be offering. This will help you to better navigate the many different client requests that might show up.
• Audience analysis: Understand who your target audience is and what channels will be most effective to reach them.
• Competitive analysis (market research): Have a look at the competition operating in your market locally, identify their strengths and in what ways you can differentiate yourself from them.
• Operations plan: Think about operations – what are the day-to-day logistics of running your photography business?
• Financial analysis: Make an effort to be financially savvy – this is very important! Create a financial plan to be in full control of all the nuances of your business cash flow. It’s likewise helpful to establish early on what your equipment requirements are and how much profit you expect to make.
• Timeline: Establish a timeline with clear milestones so you can track your progress and set goals that are increasingly more realistic and adapted to your situation. Think of it as a photography business roadmap to get you to where you want to be.

I should mention that it’s not worth getting too hung up on having every aspect of your photography business planned out in detail.

There are bits you simply won’t know yet and that’s OK! Do your best with it and don’t let writing a business plan become a block that prevents you from moving forward.

Once you have a basic business plan on paper, it’s time to get into the fun part – bringing it to life!

Find the Right Photography Business Structure

One boring-but-important topic when researching how to start a photography business is the subject of business structure.

In the USA, there are 6 main business types of legal structure to consider for your business: sole proprietorship, general partnership, limited partnership, Limited Liability Company (LLC), S Corp. and C Corp.

Sole proprietorships or sole traders are most common for small home-based businesses. They’re the easiest to manage and easiest to handle in terms of taxes since it’s usually just you involved in the running of everything.

You may also consider going into a photography business with a partner, which is actually similar to a sole proprietorship in terms of liability and taxes.

Each person is responsible for their own side of the business and all profits are split based on the percentages you decide. Of course, you also need to consider that all expenses and liabilities are also split between both partners.

If you want to protect your personal assets, many photography businesses opt for an LLC structure (Limited Liability Company). An LLC or S Corp provides one level of tax and also a layer of protection from personal liability.

At this point, it’s worth mentioning that deciding on a business structure should usually involve some legal advice, or at least, a lot of research on your part to decide what’s most relevant for you.

A quick note on business licenses – in most jurisdictions in the United States, no professional license is needed to run or operate a photography business. However, not all States are the same.

To know for sure whether your locality requires you to get a business license for photography, it’s best to call your local licensing board or city hall.

In addition to a business license, you should also start researching whether you need to use photography contracts or model releases for your line of work.

Putting in the groundwork now will set you up for success without any legal headaches.

Choose a photography business name & branding

Credit: Brad Neathery

Once you’ve decided what your speciality will be and the structure of your business, it’s time to think about your photography business name and branding.

This is what will differentiate you from the competition. It’s also important because of first impressions: when people see your branding, it can instantly give them an idea of what you do and what your style is.

With that in mind, consider the look and feel of your logo and typeface. Is it something quirky and creative, clean and modern, vintage classic…?

As for names, you might choose to name your photography business after yourself (e.g. “Bob Smith Photography”) or you could get creative and have it reflect what you do (e.g. “Maternal Memoirs” for maternity photography, or “Bedroom Eyes” for boudoir – I’m just making these up on the spot here but you get the idea!).

Don’t neglect to choose a unique or catchy slogan or tagline for your photography business .

The most important thing with branding is to be consistent. That bears repeating, so I’ll say it again: Consistency is key!

You want your brand message to be reflected across your website, business cards, social media accounts , and all materials you deliver to clients including final photo packages, invoices, etc.

• What is branding for photographers?

Register a domain and create a photography website

It goes without saying that pretty much all successful photographers in 2024 have an online presence. That’s why the next step in starting a photography business is to create a photography website .

Your website should showcase your best work and give people an idea of who you are and how you work.

While there are plenty of free web hosting solutions out there, it’s worth investing a small amount to register your own domain name.

This not only looks more professional, but it’ll also help you rank in Google searches (just ensure your domain name reflects your business name).

From there, you’ll need to build your photography business website and connect your domain name to it.

Now, if your web design skills are non-existent, don’t worry: there are plenty of solutions out there that can make life ridiculously easy.

One of the best options is to use a content management system (CMS) like Wordpress – you can download elegant-looking, customisable themes (for example, Flothemes make some great ones) so the design and layout aspects are all there for you.

With a few clicks of the mouse, you can adapt a pre-made template to include your own branding and start getting your website out to potential clients.

Invest in professional photography equipment & software

At this point, you’re probably wondering: What kind of camera do most professional photographers use?

While there’s no one correct answer as to what is a ‘professional camera’, by and large, most pros use full-frame DSLR or mirrorless cameras.

However, some do absolutely fine by using APS-C sensor cameras, particularly if high ISO low-light performance isn’t required. (Full-frame sensor cameras are better at this, among other things.)

DSLRs are still an industry standard, but are somewhat of a dying breed – mirrorless cameras offer better features and more recent technology, although the number of native lenses still dwindles in comparison to those on offer for DSLRs.

You can see more of the differences between mirrorless and DSLRs here , but suffice to say, you won’t go wrong with either.

As for the question, what camera should I buy to start a photography business? Initially, it’s whatever you can afford, but once you start making a better income, you should always upgrade your equipment in line with what you need to complete your job efficiently.

For example, wedding photographers need cameras with excellent autofocus and high ISO capabilities, whereas a portrait photographer may not need either of these things.

There’s always the option of renting equipment when you first start out – get yourself a good all-round camera, then if any job comes around that’s out of its comfort range, hire something to suit.

The same goes for camera lenses, of which there are a plethora of options . Again, depending on the type of photography services you’ll offer, you can choose between a wide range of telephoto and primes at various price points.

Most pros can get by with an affordable and fast 50mm lens (nifty-fifty), so you can start your lens collection from there. Remember that buying used camera lenses is also a great option.

As for software, this is another area you’ll need to invest in in order to grow your own photography business.

Many photography business owners start out bare-bones with a mixture of Google Sheets for keeping track of expenses and clients’ information and Google Calendar. You’ll soon outgrow these, through.

When you start making money, you’ll also need some kind of accounting software to keep track of all the figures.

It’s wise to pay for premium photographer software early on as it can really help save you time and headaches in the long run.

At a bare minimum, you’ll need photo editing software (we recommend Adobe Lightroom ), client/studio management software , and an online gallery to deliver your photos to your clients.

You can also consider an all-in-one business management tool such as  Bonsai  to help you manage your photography projects more efficiently. They offer features like invoicing, proposals, contracts, time & task tracking, client CRM and more.

All features are integrated to work seamlessly together and you can automate the entire customer relationship journey – from the proposal, and e-signing contracts to invoicing and tax season. On top of that, Bonsai offers hundreds of free templates for proposals, contracts, invoices, and more.

If you’re not shooting high volumes, you can get by with a photo editing software that doesn’t lock you into a subscription, as Adobe Lightroom does – fortunately, there are several great alternatives .

If you’re wondering how to start a photography business with no money, it may well be tough due to the requirements to invest in all the things mentioned above.

If you have good friends or family, perhaps they can lend you the gear until you’ve done enough jobs to earn the money to buy or rent your own.

It’s also possible to find free software that helps to manage your own business, albeit with some limitations.

Take out photography business insurance

We can’t talk about how to start a photography business without covering some more of the boring-but-important stuff, like… insurance!

Yep, it’s not the most fun thing to have to research and organise, but trust me – if something goes wrong, you’ll be glad you took out insurance.

There are various types of insurance your photography business might need, depending on what kind of work you do.

First and most obvious is your precious equipment. Some insurers offer specific camera insurance or photography plans designed to cover gear and studio fittings.

Note that while your regular home contents insurance may cover loss or damage to your gear, it will only be applicable if the damage occurs at home and not while you’re shooting on location. That’s why it’s worth looking into some specific cover.

On top of that, consider taking out some public liability insurance.

Despite our best efforts, sometimes things go wrong while we’re out shooting. Let’s say you’re photographing a wedding and a guest trips over your tripod, breaking their leg and taking out the entire wedding cake in the process – liability insurance will cover the damages.

If you plan on hiring any extra staff, you’ll also want to look at taking out employers’ liability insurance. This is to cover you if an employee gets sick or injured on the job.

Lastly, some photographers choose to take out professional indemnity insurance as well.

Imagine a client accuses you of some negligence and claims they lost some income due to your actions.

(For example, if you photographed a corporate event but lost your memory cards and couldn’t deliver the images. Indemnity insurance would cover any legal and other costs.)

Insurance needs vary depending on where you are in the world and what your business model is, so take this as a rough guide and do speak to your insurer about what plans are best suited to your needs.

Learn how to market your photography business

On to the next step of learning how to start a photography business: I bet you’re keen to start raking in the customers (and the cash!).

If you’re asking, “How do I get clients for my photography fast?” , the answer is  marketing. 

Unlike advertising, marketing can be done for free (or very cheaply), but it takes a little work.

One marketing strategy you can use is to network with other photographers. But wait, you say, aren’t they the competition? Not necessarily!

Another photographer might get a request for a job that doesn’t fit their style or speciality, but does fit yours – and they can refer the client on to you. These referrals are a great way to generate business, so make sure you nurture your relationships with other photographers.

Meeting other photographers is also a great way to learn. You can find out how they generate new business and meet prospective clients, and learn about which marketing strategies work best for them.

You can easily network with other photographers online through photography groups, or in person at your local photography club .

Marketing via social media is obviously another big one. It’s worth using platforms like Instagram to showcase your photography work and interact with your target audience.

To succeed on Instagram in 2024, you need to be creating entertaining Instagram Stories and posting fresh content regularly, as well as interacting with your followers and other accounts.

Online marketing for photographers is a huge topic, but at a bare minimum, make sure you learn the basics of SEO , how to write interesting blog content and how to attract new business via Facebook ads.

(If you want to become a wedding photographer, check out More Brides where I reveal all the marketing secrets that helped me quickly grow my business.)

Once you do get a few clients, make it as easy as possible for them to recommend you. Word of mouth referrals are one of the best ways to net in new clients, and that’s true of any type of business!

If your clients are happy with your work, ask them to leave you positive reviews online, tag you on social media, and recommend you to their friends.

Also, create an email mailing list where you can keep existing and potential clients up to date with your work and aware of any special offers you might be running. Remember to ask for permission and give people an option to opt-out or unsubscribe.

Let’s not forget that nondigital marketing methods also exist. Don’t underestimate the power of business cards,  flyers and other physical marketing materials for distributing around your neighbourhood or pinning to the local notice board.

For example, if you’re a food photographer you might drop round to local restaurants and hand them a brochure or card.

Or if you want to get a foot in the door as a real estate photographer, you might do a letterbox drop to all your local estate agents.

Whether online or offline, find out where your target market hangs out and go there to introduce yourself.

Invest in photography business education

When you’re just learning how to start a photography business, it’s important to grasp the basics. Then, as your business grows, your knowledge of how to run it has to expand as well.

That’s where it can be worth investing in your photography business education. By investing, I’m talking about time as well as money.

In fact, sometimes time is all you need to invest thanks to the copious amounts of free resources online.

Some areas you might choose to study, whether via a free or paid course or workshop:

• Understanding the full commercial photography workflow, from client briefs through to delivering the final product.
• Pricing structures and how to charge for your services.
• Business administration includes registering your business, filing taxes, etc.
• Best practices for dealing with clients.
• How to market and grow your business.

Your best bet is to determine where your knowledge gaps are, then start looking for ways to fill them.

And, of course, you should continue your photography education as well.

The best professional photographers are those who are always open to learning new things and developing their skills in every aspect of the art, whether it’s compositional techniques, lighting, post-processing and retouching, or something else.

Fortunately, a lot of free photography courses are available right here on Shotkit!

Start thinking about passive income for photographers

Passive income is basically regular earnings that take little-to-no regular effort to maintain. In other words, you set up the income source and money kinda just rolls in while you sleep. Pretty sweet, huh?

So, how do photographers make passive income?

The most obvious is through stock photography. With stock photography sites , you can upload images and get a commission every time someone downloads one (normally, they’re used for commercial or editorial purposes).

The reality of the stock photography world is that thanks to digital photography, it’s highly saturated. So be aware that it takes some dedication and a high volume of photos to make a decent passive income.

That’s not to say it can’t be worth it – just that you should approach it realistically.

There are other potential passive income streams. You can sell digital products such as Lightroom presets or online courses and ebooks.

Or, you could use a print-on-demand service to offer products printed with your photographs .

If you write a photography blog, perhaps you want to start writing reviews of camera gear and link to sites like Amazon and B&HPhoto to earn a commission as an affiliate.

There are also platforms like Patreon that allow you to charge for content that you provide to your followers.

Think outside the box and see what passive income ideas you can come up with – it’s an excellent way to grow your revenue and ensure you have some income even in times of seasonal fluctuations.

Money and Photography Business FAQs

When researching how to start a photography business, you’ll likely have a ton of questions regarding money – how much it costs to start and run the photography business and how much you can expect to earn as a professional photographer .

We’ve answered all the most common queries below – feel free to leave a comment if you want to ask something specific.

• How much money does it take to start a photography business?

It depends on what you’re shooting and how much equipment you need, but a good starting point is around US$10,000. That’s to cover basic camera gear, software, insurance and business registration fees.

• How can I start a photography business with no money?

If you already have some basic camera gear and an internet connection, then you can start a photography business by simply getting out and shooting! Find clients using free marketing strategies and build up from there, reinvesting your earnings until you can buy adequate insurance, better gear, etc.

• How much money do professional photographers make?

According to ZipRecruiter.com, the average photographer salary in the US is $43,114. However, photographer salaries vary greatly depending on country/location, experience level, education level and genre.

• How much money does a photographer make per hour, a week, a month?

Careerexplorer.com states that the average wage for a photographer in the US is around $18.22 per hour; however, that figure ranges from as low as $10.36 per hour for someone starting out to $32.04 or more for an experienced shooter. ZipRecruiter pegs the monthly average salary at $3,592. Again, location is another big factor in how much you can expect to earn.

• How much should I charge as a beginner photographer?

For a beginner, you’re probably looking at an hourly rate of US$25-$50 (or equivalent in your currency), or between $10 and $25 per image. Think about the time and expenses of the work for you and factor that into what you charge.

Final Words

I hope you found this guide to how to start a photography business useful. Moreover, I hope it genuinely inspired you to get out there and do it!

As I’ve found, starting your own photography business and being your own boss is incredibly rewarding. Yes, there are some challenges ahead, but I assure you, there’s nothing that you can’t overcome with a little perseverance!

So what do you think? Are you ready to take the leap?

If you have any other questions about how to start a photography business, please leave them below and I’ll do my best to answer.

Also, if you have your own tips or want to share your experiences with venturing into the business world, do add them as well – simply leave a comment below.

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Mark Condon is a British wedding photographer and editor of Shotkit. When he’s not taking photos or reviewing the latest camera gear and software, Mark can be found cycling around the northern rivers.

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Creating a Successful Photography Business Plan

Starting a photography business can be an exciting adventure, but it's important to have a solid plan in place to ensure your success. In this article, we will explore the key elements of creating a photography business plan and how they contribute to your overall success. We will delve into understanding the basics of a business plan and its importance in the photography industry, as well as the process of defining your photography business and identifying your niche. Additionally, we will discuss market analysis, developing a marketing strategy, and financial planning. So let's dive in and uncover the secrets to creating a successful photography business plan!

Understanding the Basics of a Business Plan

A business plan serves as a roadmap for your photography business. It outlines your goals, strategies, and financial projections. A well-crafted business plan not only helps you stay focused but also acts as a valuable tool when seeking funding or partnerships. It provides a clear direction, identifies potential challenges, and highlights opportunities for growth.

When starting a photography business, it is essential to have a comprehensive business plan that covers all aspects of your venture. This plan will serve as a blueprint for success and guide you through the various stages of your business's development.

As a photography business owner, your business plan should include sections such as an executive summary, company description, market analysis, marketing strategy, financial projections, and an action plan. These elements work together to create a cohesive and strategic plan that will help you achieve your business goals.

Importance of a Business Plan in Photography

A photography business plan is crucial for establishing a solid foundation for your venture. It helps you define your objectives and understand your target audience, enabling you to tailor your services to meet their needs. With a well-researched and thought-out plan, you can position your photography business as a unique and valuable offering in the market.

Furthermore, a business plan acts as a roadmap for growth and expansion. It allows you to identify potential challenges and develop strategies to overcome them. By analyzing the market and understanding your competition, you can identify opportunities for differentiation and capitalize on them.

Additionally, a well-prepared business plan is essential when seeking financing or attracting potential investors or partners. It demonstrates your professionalism, commitment, and understanding of the industry. Investors and lenders will be more likely to support your photography business if they can see a clear plan for success.

Key Elements of a Business Plan

• Executive Summary: This section provides an overview of your photography business, highlighting its unique selling points and summarizing the key points of your plan.
• Company Description: Here, you will provide a detailed description of your photography business, including its mission, vision, and values. You will also outline your legal structure, location, and any relevant industry certifications or affiliations.
• Market Analysis: This section involves conducting thorough research on your target market, including demographics, trends, and competitors. By understanding the market landscape, you can identify gaps and opportunities for your photography business.
• Marketing Strategy: In this section, you will outline your marketing and promotional activities. This includes your branding, pricing strategy, advertising channels, and customer acquisition strategies. A well-defined marketing strategy will help you reach your target audience and differentiate your photography business from competitors.
• Financial Projections: Here, you will present your financial forecasts, including revenue projections, expenses, and profitability. This section demonstrates the financial viability of your photography business and helps you plan for future growth and investment.
• Action Plan: The action plan outlines the specific steps you will take to implement your business strategies. It includes timelines, milestones, and responsibilities. This section ensures that you have a clear roadmap for executing your plan and achieving your business objectives.

By including these key elements in your photography business plan, you will have a comprehensive and strategic document that will guide you towards success. Remember to regularly review and update your plan as your business evolves and new opportunities arise.

Defining Your Photography Business

Before diving into the details of the business plan, it's essential to clearly define your photography business. Start by identifying your photography niche, which will help you differentiate yourself in the market and develop a unique selling proposition.

When it comes to choosing your photography niche, there are various factors to consider. Think about your passion and expertise. What type of photography excites you the most? Are you drawn to capturing the raw emotions of weddings, the beauty of nature, or the creativity of commercial projects? Understanding your niche will not only allow you to focus your skills but also help you stand out from the competition.

Once you have identified your niche, it's time to delve deeper into understanding your target audience. Who are your ideal clients? What are their needs, preferences, and pain points? Conduct market research to gain insights into the demographics, psychographics, and buying behaviors of your target market. This information will enable you to tailor your services and marketing efforts to meet their specific expectations.

Furthermore, setting clear and measurable business goals is vital for the success of your photography business. While it's tempting to have broad goals like "become a successful photographer," it's essential to break them down into specific and achievable objectives.

For example, if you aim to increase your client base, you can set a goal of acquiring a certain number of new clients within a specific timeframe. If expanding into new markets is on your agenda, you can set a goal of entering a specific geographic area or targeting a different industry. Additionally, improving customer satisfaction can be measured by setting goals related to receiving positive feedback, increasing repeat business, or reducing customer complaints.

Defining your goals will provide a clear direction for your photography business. It will help you prioritize your efforts, allocate resources effectively, and measure your progress along the way. Remember to regularly review and adjust your goals as your business evolves and new opportunities arise.

Market Analysis for Your Photography Business

A comprehensive market analysis is crucial to the success of your photography business. By identifying your target audience, you can better understand their needs, preferences, and purchasing behavior. This information will allow you to develop targeted marketing strategies that resonate with your potential clients.

Analyzing your competition is equally important. Identify other photography businesses in your area and assess their strengths and weaknesses. This knowledge will help you position your business effectively, highlight your unique offerings, and develop strategies to stand out in the market.

When conducting a market analysis for your photography business, it is essential to delve deeper into understanding your target audience. Start by identifying the demographics of your potential clients, such as their age, gender, income level, and location. This information will help you tailor your services and marketing efforts to meet their specific needs and preferences.

Furthermore, it is crucial to understand the psychographics of your target audience. This includes their interests, values, attitudes, and lifestyle choices. By gaining insights into their psychographics, you can create a brand identity and messaging that resonates with them on a deeper level, establishing a strong emotional connection.

In addition to understanding your target audience, it is vital to analyze the market trends and industry dynamics. Stay updated on the latest photography trends , technological advancements, and changes in consumer behavior. This knowledge will enable you to adapt your business strategies accordingly and stay ahead of the competition.

When analyzing your competition, consider factors such as their pricing, services offered, customer reviews, and overall brand reputation. By understanding their strengths and weaknesses, you can identify opportunities to differentiate your photography business and offer unique value propositions to your potential clients.

Furthermore, it is essential to assess the marketing strategies employed by your competitors. Look at their online presence, social media engagement, and advertising efforts. This analysis will help you identify gaps in the market and develop innovative marketing campaigns that capture the attention of your target audience.

Remember, a market analysis is an ongoing process. Continuously monitor and evaluate the market trends, consumer preferences, and competitive landscape. This will allow you to adapt your strategies and stay relevant in the ever-evolving photography industry.

Developing Your Marketing Strategy

Once you have analyzed your target audience and competition, it's time to develop a marketing strategy that will help you reach your goals and attract clients. Start by branding your photography business. Choose a name, logo, and visual identity that represents your unique style and resonates with your target audience.

In addition, invest in carefully crafted promotional materials that showcase your work and highlight your strengths. Utilize online platforms, such as social media and a professional website, to showcase your portfolio and engage with potential clients. Networking, participating in industry events, and collaborating with other professionals can also help you expand your reach and build valuable relationships.

Financial Planning for Your Photography Business

Setting a pricing structure is a crucial aspect of financial planning for your photography business. Research industry standards and analyze your costs to determine a pricing strategy that is competitive yet profitable. Remember to consider factors such as equipment costs, marketing expenses, and your expertise when calculating your prices.

Additionally, create a budget and forecast your financial projections for the coming months or years. This will help you understand your revenue streams, expenses, and potential profitability. Regularly review and update your financial plan to ensure you are on track and make necessary adjustments as your business evolves.

In conclusion, creating a successful photography business plan involves understanding the basics of a business plan, defining your photography business, conducting a thorough market analysis, developing a robust marketing strategy, and undertaking financial planning . By investing time and effort into these crucial steps, you will lay a solid foundation for your photography business and increase your chances of long-term success. So start drafting your business plan today and embark on your journey to a thriving photography business!

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How to Start a Photography Business: The Definitive Guide

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Photography isn’t just a way of capturing a memory for many people. Photography is a fulfilling way to express yourself. It’s a way to interpret the world and make the invisible visible.

And for many who have strong photography skills, it’s a way to make a living and make photography a business.

Navigating the transition between photography as a hobby and creating a career by starting a photography business (or growing your photography business) can be tricky.

If you have strong photography skills and want to take the plunge and start your own photography business, there is much to consider.

Our team has helped hundreds of photographers start, grow, and market their photography businesses. And for the past fifteen years, I’ve mentored thousands of entrepreneurs formally through Techstars and Founder Institute and informally on starting and growing their businesses in photography and other industries. This guide shares actionable insights, experience, tips, and best practices.

With the right resources and strategies, starting a business as a photographer can be an inexpensive way to become an entrepreneur and your own boss.

How to Start a Photography Business:

• Develop and refine your photography business idea
• Write a business plan for your photography business

Hire an experienced business attorney

Decide your legal business structure, purchase business insurance.

• Set up accounting and bookkeeping

Assess your finances

Crunch the numbers, create a strong brand identity, build an online presence, create a sales plan, build your team, grow your photography business.

Develop and refine your business idea

Before you start your photography business, you must consider your strengths, weaknesses, and interests.

You probably know what kind of photography business you want to start. Maybe you want to start a wedding photography studio, or your heart is set on taking headshots and portraits.

No matter what angle you choose, evaluating existing businesses around you is important to see how much competition you’ll face.

Photography is a competitive industry.

More than 12,458 businesses in the U.S. specialize in photography. They collectively earn more than $6.5 billion per year. The industry is growing 2.5% annually and is forecast to grow 1.8% annually by 2024.

Despite the competition, a photography business can be fulfilling and rewarding.

Think about how you can integrate your natural skillset into your photography business to stand apart from your competition. Ask yourself the following questions, and take time to reflect on the answers:

• What skills set me apart?
• What is the purpose of my photography business?
• Who am I providing a service or product to?
• What is the maximum figure I can safely spend on this business?
• Do I need outside capital? How much?
• What kind of work/life balance am I looking to achieve?
• What are my expectations of being an entrepreneur?

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Find a niche

You’ll also want to consider the niche for your photography business.

Is your photography geared toward a particular group or segment of the population?

Are you looking to attract a particular demographic?

You’ll have a better chance at success if you start with a specific target audience.

Ensure you build your photography business to meet a specific niche’s needs to avoid overspending and underwhelming all of your potential customers.

You’re more likely to succeed if you start your photography business with a specific product or service designed for a particular group of people (for example, wedding photography or non-traditional weddings). And you’ll gain experience more quickly by concentrating on a specific area.

This is true for any business, not just a photography business. For example, in our definitive guide on  how to start a successful clothing brand or clothing line , we suggest that aspiring apparel entrepreneurs choose their niche too. Competing is too hard, especially when you start when you don’t specialize.

Here are some niches to consider when you explore the type of photography business you should start:

• Wedding photography business
• Fashion photography business
• Real estate photography business
• Portrait photography business (people and/or animals)
• Dog shows photography business
• Sports photography business
• Stock photography business
• Contract work photography business (covering local events, for example)
• Commercial photography business
• Local news photography business
• Image or video editing photography business (helping other photographers with edits)
• Product image photography business
• Food image photography business
• Travel photography business

Whatever type of photography niche you choose, make sure you’re passionate about it. That passion will come through everything you do, and your customers will appreciate and embrace your brand’s authenticity when you deliver photography services.

And be sure you assess your total addressable market to help you understand the opportunity better. Not every niche will be equally lucrative for photography businesses.

Write a photography business plan

Once you choose a niche for your photography company, it's time to write a business plan.

Although a business plan isn’t mandatory when starting a photography business, it can help you crystallize your business ideas .

A business plan is a document that outlines your business’s financial and operational goals. The business plan defines your company’s objectives and then provides specific information that shows how your company will reach those goals.

Your photography business plan doesn’t need to be 100 pages long. Numerous excellent templates can help you create a one-page business plan . Keep your business plan short and focus on the essential details. Think of your one-page business plan as a way to concisely summarize your business education about photography businesses.

Studies show that entrepreneurs who take the time to write a business plan are 2.5 times more likely to follow through and get their business off the ground. The work that goes into creating a business plan also helps new entrepreneurs build skills that will be invaluable later.

Your business plan should include a sales and marketing plan that defines your unique value proposition and how you will promote your business.

For actionable insights and free downloadable business plan templates, read this definitive guide on how to write a business plan .

Do market research

Before diving into your business plan, knowing the market you’re entering is important.

Business planning and marketing research help you to build a more successful photography business. This is true whether you’re just starting your new photography business or growing your photography business.

For example, if you’re planning to focus on weddings, assess the following:

• Who are your direct competitors? There may already be many wedding photographers in your area.
• Who are the top professional wedding photographers working in your geographic market?
• What makes the top wedding photographers in your area stand out from the rest of the competition? Sometimes, they stand out because they have strong photography skills. But some stand out because they have great business skills.

If you focus on real estate, your target audience might be real estate agents and professional home stagers. So, you’ll need to ask similar questions about that audience.

A lot of the work to come relies on information gleaned from market research. You mustn’t skip this stage so you have the data you need to make informed decisions.

There are two major types of market research: primary and secondary.

Primary research answers some key questions, such as:

• What factors do your potential customers consider when purchasing similar products or services?
• What do they think is working, and what needs improvement in their current choices?
• What do they like and dislike about the options currently available to them?
• What price do they pay? Do they feel it’s reasonable and provides good value?

You answer these questions by talking to potential customers. Surveys, focus groups, one-on-one interviews, and questionnaires are the tools of choice for primary research.

Secondary research is information pulled from existing sources.

Using currently available data, you can identify competitors and define your market segments or demographics. Key attributes like age range, lifestyle, and behavioral patterns are data points used to divide your target customers into segments.

Once you have this information, you’ll refer back to it repeatedly as you build and launch your business. Make sure you spend a decent amount of time collecting data, so your decisions are based on solid research.

Plan for all the necessary legal and logistical business considerations, and you’ll create a strong foundation for your photography business’s successful future.

Most small business owners dread talking with and hiring a business lawyer when starting a business. Some fear they’ll pay exorbitant legal fees or receive bad advice that will destroy their business. Others agonize over how to find a reasonably priced, competent business lawyer.

Here’s what you need to know to hire a good lawyer for your new photography company.

Most guides on how to start a photography business, or any other small business type, won’t include insights on hiring a lawyer. We think that’s a big omission because many businesses run into legal troubles, and by starting on the right path from the very beginning, you can reduce your business risk.

We’ve met many lawyers who are deal-killers. Overzealous and often inexperienced, they focus on the wrong issues and forget that their client needs the deal to move forward. When you talk with lawyers you’re considering hiring, ask them about one or two complicated negotiations and how they overcame obstacles.

Don’t make price your main criterion for hiring a lawyer.

Often, the least expensive lawyers are also less experienced – especially in the areas where you may need help. Paying a cheaper hourly rate might feel good initially, but in the end, you may end up paying far more than if you hired an experienced (more expensive) business lawyer in the first place.

Ensure your lawyer is familiar with a photography business’s peculiarities, has experience with clients starting a photography business, and has represented other photography businesses and small businesses.

Also – be clear about your budget and expectations. Your lawyer should understand that your budget is limited, and they should not waste it on irrelevant details.

Typically, the best time to start a relationship with a lawyer is before you start your photography company.

Too many people make the mistake of forming a company without consulting a lawyer. A good lawyer will help you find the right business structure for the business – and split ownership interests if you have co-owners – in ways that will protect everyone and give you flexibility going forward.

Before starting your photography business, you need to decide on the type of entity you need to register.

Your legal business structure affects everything, from how you file your taxes to your personal liability and whether you need to comply with any special additional requirements at the local, state, or national levels.

There are many different types of legal structures for various business entities . Choosing the best one for their photography business can feel overwhelming for new business owners.

Here are some of the major business entities you should look into:

• Sole proprietorship – this is the most basic business entity. A sole proprietorship means one person is solely responsible for a business’s profits and debts.
• Partnership – A partnership is a shared responsibility between two or more people who hold personal liability for a business.
• Limited Liability Company (LLC) – a structure that permits owners, partners, or shareholders to limit personal liability but still includes tax and flexibility benefits associated with a partnership.
• Corporation – this is an entity legally considered separate from its owners. Corporations can own property, be held liable, pay taxes, and enter contracts.

As a creative professional, chances are you’re starting small. Setting up a sole proprietorship or partnership may be the best fit if you’re going it solo, especially if your business will be home-based when you start.

It’s important to consider your future business goals, however. You want to choose a business structure that can accommodate the growth and expansion of your business.

Hire an expert to form your company and save time. Our trusted partners can help: Northwest ($39 + state fee) or Bizee ($199 + state fee) . We recommend Northwest. After evaluating the leading registration companies, Northwest stands out as our top choice due to its competitive pricing, exceptional customer support, and commitment to privacy. Pay just $39 + state fees and you'll get a free year of registered agent service, articles of organization, privacy, and client support from local experts.

Once you decide on your legal business structure, register with the government (typically your state and sometimes your municipality) and the IRS.

Your business structure determines the forms you need and where to register.

You can find a full list of the forms for each entity type on the SBA website . You can also find state-specific tax obligations on the same site.

You may sometimes need federal, state, or local business licenses and permits. The SBA’s database lets you search for business licensing requirements by state and business type. And remember to contact your municipality to see if there are local licensing or registration requirements. You’ll sometimes need to get a business license from your municipality too.

You may also need an employer identification number (EIN) from the IRS.

This is not required if you’re a sole owner and don’t have employees. But you might want to get an EIN anyway to keep your personal and business taxes separate and ensure you can quickly hire when the time comes to expand your business.

The IRS has a useful checklist to help you decide whether you need an EIN to run your business.

If you do need an EIN, you can register online for free.

Also, remember that most states require you to register your business if the trade name you operate your business differs from your business’s legal name.

For example, suppose your registered company is an LLC, and the business name is Three Brothers, LLC. In that case, you cannot operate that business lawfully in most states if you’re selling products under the business name Three Tigers Photography. That’s because the registered name, and your trade name, are different.

Fortunately, this is not a difficult problem to overcome. You can simply register your actual trade name with your state (and or local government) by filing a “doing business as” (DBA) certificate. DBAs are also commonly called “assumed name,” “fictitious business name,” or “trade name.” Here’s a terrific resource that explains what a DBA is, the DBA state requirements, and how to file a DBA  for your business in all 50 states and U.S. territories.

You’d be surprised how many new business owners forget to protect themselves and their businesses by purchasing insurance before starting their business.

It doesn’t help to buy insurance after starting your business and incur claims.

Business insurance can cover property damage, theft, intellectual property lawsuits, and other incidents. Those can be very costly to small businesses, and you must protect yourself and your new business. This is true even if your business is home-based, as your home insurance might not cover your business.

Depending on your photography business niche market, you may need photographer insurance to bid for jobs or secure client work. Some companies require all of their vendors and contractors to have insurance.

And if you employ people, you’ll need workers’ compensation and unemployment insurance. Coverage varies by location, and many general liability (GL) policies will cover workers’ compensation.

As a provider of photography services, you’ll want professional liability insurance so you’re protected against possible claims. You probably also have lots of expensive photography equipment, and ensuring those against theft, damage, or worse will ensure you’re prepared if disaster strikes.

Here’s a good read on the different types of insurance you should consider as a business owner.

Set up business accounting and bookkeeping

You'll need to set up a bookkeeping and accounting system to keep track of your finances when starting a photography company. Understanding your business’s cash flow is important and will also be important for tax-filing purposes.

Here’s what you need to know about accounting and bookkeeping for your new photography business.

Business accounting is how your business records, organizes, interprets, and presents financial information. Accountants analyze the financial condition of a business to help the business owner make better decisions.

Bookkeeping is recording, organizing, storing, and retrieving financial information related to your business.

Accounting services and bookkeeping do overlap. The main difference between the two is that bookkeeping is how you record and categorize financial information. In contrast, accounting puts the information to use through business analysis , strategy, and tax planning.

Start by hiring a bookkeeper

A great bookkeeper is not the same as an accountant. Many business owners hire a bookkeeper with simple goals: keep them organized, pay their bills, and prepare to hand off all necessary financials to the accountant.

Typically, bookkeepers are less expensive than CPAs (certified public accountants) and can be trusted to record and organize your day-to-day business transactions, keep your bank accounts balanced, produce simple reports, and assist with keeping your financial records in order.

Many small businesses will use an outside bookkeeper, paid hourly, to handle all entries, pay all the bills, and manage invoicing and receivables . Having help with this aspect of managing a small company can be indispensable, and the time it can free for a busy owner is invaluable. Plus, you generally won’t need to buy accounting software since the bookkeeper you hire likely already owns such software.

Review your accounting processes annually and make adjustments

Do not underestimate the importance of a periodic review of your bookkeeping, accounting, and tax strategies. At your peril, you neglect to look hard at the systems you have in place and the people managing those systems.

Are you doing your accounting most productively and cost-effectively? Does your CPA have the right level of industry knowledge to advise? Does your tax preparer have the skills and expertise to keep you (and your investors) on the right side of the law? And finally (the big one), can you find ways to reduce your expenses while maintaining high-quality controls?

Take the time to reconsider your overall accounting strategy and find ways to strengthen and improve it.

When you start a photography company, assessing your finances and startup costs is crucial. These numbers include tracking your sales and profits - but a smart business must account for much more than sales alone.

Business finance uses your company’s financial information to help you manage your money and make your photography business operations profitable and sustainable.

You have many business financing options.

That’s important because you need to determine your startup costs, how you’ll fund your new business, and how you’ll grow the business.

You’ll have difficulty building a sustainable, profitable business if you don’t understand the numbers.

Be extra careful to conserve your startup funds when starting a photography business. Don’t overspend.

Some purchases (like a professional camera for macro photography and a backup camera, plus lenses, memory cards, and other equipment) will be necessary and could make sense for your photography business. Still, others, like expensive and unnecessary equipment or a fancy car, will threaten your small business’s survivability.

You’ll need to set up a bookkeeping and accounting system to keep track of your finances. We talked about this above. Understanding your business’s cash flow is important and will also be important for tax-filing purposes. Your accounting and bookkeeping system will include income, expenses, capital expenditures, profit, loss, EBITDA, etc.

When you start a small business, you must track your sales and profits – but a smart business must account for much more than sales alone.

For example, many photography businesses tend to work on a contract. That means you must prepare for inconsistent revenue’s ups and downs. You need to know how much revenue you need to cover when things are leaner.

As you may be a company of one, you should also plan for health and life insurance and budget for vacations. Don’t be one of those entrepreneurs who never take time to step away for a while. Everyone needs a break, and your budget should consider that.

Here’s a simple budget you can use as a reference point when starting your photography business. This budget doesn’t include a studio or office space. All prices are one-time purchases or annual estimates.

• Two professional high-quality cameras : $2,000 to $5,000 each
• Camera accessories (bags, batteries, grips, etc.): $1,000 to $1,500 total
• Lenses: $1,000+ each
• Flashes (at least two): $700 to $1,000 each
• Lighting accessories (lights, tripods, reflectors): $1,000 to $2,500 total
• Backdrops: $500 to $1,000 total
• Props: $250 total
• Equipment travel cases: $500 to $1,000
• Multiple memory cards: $50+ each
• Two external drives: $120 each (backups)
• A computer: $1,500 to $2,000
• Reliable car or van: $ varies
• Website ( Wix , Zenfolio , SmugMug , Squarespace ): $60+ (annual)
• Lightroom and Photoshop subscription from Adobe: $120 per year
• Business name and company logo : $500 to $1,000 (one time)
• Business licenses and permits: $150+ annual
• Insurance: $600 (annual)
• Accounting and taxes : $500 to $1,000 per year (annual)
• Contracts: free to $1,000+ (annual)
• Business cards: $50+ (annual)

Optional expenses (these are not essential but will help you to build a stronger photography business):

• Video equipment if you will also shoot video
• Business training ( Lynda.com classes, small business coach, photography business paid groups)
• Assistant and other staff
• Studio and office space
• professional quality photography printer
• Photography workshops and classes
• Marketing materials

Managing a content-rich website poses unique challenges for photography businesses and could increase costs. Selecting a Content Management System (CMS) that offers comprehensive organizational capabilities, especially to help you organize WordPress media files and folders ,  is crucial.

Once you know how much it will cost to get you started, compare that with your funds. Then plan how you’ll make up any difference.

Even if you start a home-based photography business, you’ll still incur costs, so pay careful attention to your budget.

Run calculations to determine how much it will cost to create your business, allowing you to plan and think about pricing.

For example, if your goal is to make $75,000 per year after all expenses, and you plan to shoot weddings, you’ll need to figure out your expenses, how much you will charge per wedding (most professional photographers charge between $100 and $250 USD per hour (which typically works out as $25 to $100 per final edited photograph), and how many weddings you’ll need to shoot every year to reach your goal.

Every photography business is different. Or better put: you must differentiate your photography business to stand out from competitors.

Crafting a memorable visual identity is crucial to any creative professional’s success. This identity is increasingly important as Instagram and other social media blur the lines between a professional and a hobbyist.

As we’ve previously discussed ,

…your brand is your company’s public identity. Ideally, your brand should embody the best (and most essential) attributes of your company.

A brand represents how people know you and your business. It affects how customers perceive your reputation or the reputation of your company.

A strong brand is more important than ever in today’s competitive creative market.

Ask yourself these important questions:

• What identity/personality do I want my creative brand to project?
• Who will want my products or services?
• What can customers get from my products or services that they can’t get anywhere else?
• What can customers get from working with me that they can’t get anywhere else?
• What are my brand values?
• What is the most important part of my customers’ experience?

Your answers to these questions (and others like them) will build your brand’s core. All of your future branding decisions should expand on these ideas. Your business name , company logo , and website design should all grow from the concepts you laid out here.

If you feel stuck when thinking about visual design for your photography brand, look at these creative photography logo styles .

Remember that your business name plays a role in almost every aspect of your business. If you’re struggling to name your photography business and need ideas, look at the photography business name generator .

Whenever you make personal appearances, carry business cards  and  brochures in case people want to learn more about your services and give them your contact information. That’s a great way to find new clients.

Happy clients who love your photography will ask for extra business cards to share with friends and colleagues.

Some small business owners delay building a strong brand identity because they worry they might not have a huge budget. This delay can hurt you. You don’t have to spend thousands of dollars building a strong brand identity. Here are a few pricing guides that can help you identify the sweet spot for pricing:

• How much should a logo design cost?
• How much do business cards cost?
• How much should brochure design cost?
• How much does website design cost?

If you’ve already started your photography business but are unhappy with your branding, this is the perfect time to rebrand your photography business .

A photographer's calling card is their portfolio and work samples. Today that means having a professionally designed website.

Customers choose creative services based on the brand, the person behind it, and the quality of the work presented to them.

The most effective way for creatives to show off their skills and personality is through their web presence.

Don’t believe us? A recent study shows that 97% of consumers research their purchases online before they buy something.

Start by ensuring that your website design truly embodies your brand. Visitors should understand who you are, the services you offer, your style, and the quality of your work.

Your website’s design and marketing copy should project your brand’s voice and identity. Here are some suggestions:

• Use your brand’s colors .
• If you are the primary employee, include a photo and bio. Customers want to know the person behind the site.
• Be authentic and avoid marketing “happy talk.” Speak the same language as your customers.
• Include high-quality examples of your work.
• Give site visitors an easy way to get in contact with you.

Aim to create a site that builds your brand, establishes your approach and style, and communicates your business’s value proposition. As with personality-driven fields (like real estate sales and other creative services), people are not just buying your services; they’re buying a relationship with you.

Self-hosted open-source portfolio apps allow you to combine your uniquely branded website with a gallery of your work.

Check out WordPress if you’re looking for a self-hosted solution. Many WordPress plugins are created specifically for photographers. For example, because photographers include many images on their portfolio sites, use an easy WordPress Image Optimizer like Imagify . After comparing many optimization plugins, that’s the one we use and love on the crowdspring blog.

Don’t use stock images or stock photography when building a web presence. After all, you’re trying to promote your unique photography business. Stock images will send the wrong image to your target clients.

Finally, a strong website design will lend credibility and legitimacy to your business. To learn more about great website design, check out Grow Your Small Business With These 7 Website Design Best Practices and 11 biggest web design trends for 2022.

Never forget the power of good old-fashioned market research when you’re ready to open your photography business.

Not every option will be cost-effective or practical; you should understand what choices will work best for your business.

Your photography business won’t succeed if you just take pictures. You can’t ignore the business side.

You need to create a photography business roadmap for your new business. As a starting point, ask yourself these questions:

• How will you sell your products or services?
• Will you work full-time or part-time as a professional photographer?
• What photo editing software will you need to create memorable photos for your clients?
• What will you choose as your pricing structure?
• Will you accept credit cards?
• Will you have a client referral program?
• How will you book clients?
• Do you need office space or studio space to meet with clients, or will you operate your business as a home-based photography business?
• What customer expectations will you set when you offer your services?
• How will you provide customer service for customers who have questions or problems?

Photography work can be a personal, intimate service, so a hands-on approach is often more effective and successful. Your website can help you generate leads , but your success is based just as much on the customers you say no to as the ones you say yes to.

What does this mean? It means getting up from the computer and on the phone.

You can’t just take pictures and ignore sales and marketing.

A quick call with a prospective customer can establish whether you’re a good fit for their needs. It saves you and your customer time and effort if there isn’t a good match.

This pre-work leads to the second part of your sales plan: the in-person consultation. You want to meet with your client before you pick up your camera so that you can work out their needs, expectations, and any critical factors in advance.

The ultimate goal is for your client to buy your work. You may have your particular style or aesthetic, but you also want to capture your customers wants. The in-person meeting is when you can establish these criteria.

Another part of your sales plan is what happens after completing the work. Post-sales customer care can be a place where you differentiate yourself from your competitors.

Present your work to your customers personally, and walk them through your thoughts and comments about the project. Many professional photographers are content to send clients and potential clients a link to an online selection of photos. An online gallery may be efficient for both parties but may turn your work into a commodity.

Add a personal perspective when you share your work so your clients and potential clients understand your thought process. Creating a great sales experience throughout the project can bolster work-of-mouth referrals.

Word-of-mouth is a powerful marketing tool, especially for professional photographers. As we wrote :

In fact, customers referred to a product are more valuable. A Wharton School of Business study found that referred customers have a 16% higher lifetime value and are more loyal.

Consider your sales plan beforehand to capitalize on every opportunity to close the sale and generate more. And remember to build an email list to update your and prospective clients about your photography business.

There’s a time in almost every entrepreneur’s career when you feel like you’re going it alone.

When you first start your photography business, there’s a good chance that you will be.

For your business to scale and grow, however, you’ll need help.

Many photography businesses are started by sole entrepreneurs who hire experienced professionals to handle specific business parts.

Whether you hire employees or work with contractors depends on your particular business.

At first, you should only hire for positions that provide the most immediate benefit to your business.

There’s no one right answer for what those positions might be – every business is different. As you plan what positions to hire, consider what aspects of the company pose the most significant challenge. It’s also crucial to recognize your limitations.

Hire an employee who is an expert in areas your business lacks expertise. Build a robust and well-rounded team to create a stable foundation for your business.

With all of that in mind, where should you start?

You may want your first hire to be a part-time assistant. Look for someone who is a jack-of-all-trades, eager to learn new skills, and with a strong work ethic. You’ll sleep better if you have someone in the trenches with you that you can rely on. And you’ll likely need someone to help you with photography equipment at photoshoots. And if you’re a great photographer but less skilled with photo editing, look for an expert with photo editing software.

If you’re new to marketing, a marketer can help you strategize your business.

One position you’ll need to fill is an accountant or bookkeeper. You need to track your expenses and revenue and keep good records for tax season.

The Legal Stuff

Of course, hiring staff or consultants for your photography business means you’ll have to deal with all sorts of legalities and paperwork. Hiring and signing contracts with professional service providers isn’t an area where you should “wing it.”

We went straight to the source to help you with some of the legal issues to consider. The hiring experts at Indeed recommend that you:

• Get an Employer Identification Number (EIN) by applying on the IRS website (you’ll get your number immediately after applying!).
• Register with your state’s labor department.
• Fill out paperwork to withhold federal taxes from your employee’s wages.
• Set up workers’ compensation insurance if it is required in your state.

You’ll also need to decide whether you hire full- or part-time employees.

Part-time employees cost less. These cost savings can be an advantage when you first get started. As your business grows and you can afford it, you can expand their hours.

Full-time employees also require more paperwork to get set up. To gain complete insight into the hiring process, read Indeed’s step-by-step guide, “ How to Hire Employees .”

Your business is ready to go – your brand is a masterpiece of consistency and charm, your legal and business plans are all squared away, and you have a solid team behind your business.

Here comes the fun part – introducing your business to customers!

Look into newspapers and local magazines, trade shows, and public events where you can bring your brand and your work to the people. Any outlet that makes sense for your small business is one you should seek out.

Give your prospective customers an intimate view of your work and your business. You’ll want to develop a content marketing strategy to grow your business.

As a new, up-and-coming small business owner, social media is an inexpensive and easy outlet for all of the beautiful work you’ve created. As we previously explained ,

Social media gives you the ability to easily keep customers up-to-date on new products, store policies or sales. It also enables you to build a social rapport with current customers, while building low-pressure relationships with future buyers.

Maintaining Twitter, Instagram, and Facebook presence is important to build a following and connect with your market niche on social media. With the advent of micro-influencers , the potential reach a new business now has, especially on social media, is truly massive.

Most of your new business will likely come from word-of-mouth referrals. And as a result, your social media presence should be managed with intent.

Instagram is an obvious priority for photography businesses. You can post examples of your work to the platform, connect with customers, and use it to build your personal brand. But Instagram (and other platforms like Facebook) can also be where you post behind-the-scenes photos and videos to give prospective and potential clients an insider’s eye to your business.

There’s a lot to think about when starting a photography business.

But with this complete guide on how to start a photography business, you’ll have a competitive advantage to start on the right path to success.

Additional Resources for Photographers

If you want to sell your photos to stock image sites, here are the sites you should consider:

• BigStockPhoto
• Candidly Images
• CanStockPhoto
• DepositPhotos
• FreeDigitalPhotos.net
• Instaprints
• iStockPhoto
• Lobster.media
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Photography Business Plan Template

Written by Dave Lavinsky

Photography Business Plan Outline

• Photography Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Photography Plan Here

Photography Business Plan

You’ve come to the right place to create your Photography business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Photography business.

Below are links to each section of a sample photography business plan. It can be used to create a wedding photography business plan, a commercial photography business plan, a portrait photography studio business plan or any other type of photography business plan.

1. Executive Summary 2. Company Overview 3. Industry Analysis 4. Customer Analysis 5. Competitive Analysis 6. Marketing Plan 7. Operations Plan 8. Management Team 9. Financial Plan

Next Section: Executive Summary >

Photography Business Plan FAQs

What is a photography business plan.

A photography business plan is a plan to start and/or grow your photography business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your photography business plan using our Photography Business Plan Template here .

What Are the Main Types of Photography Businesses?

There are many types of photography businesses depending on the style of photography and target market. The most common and profitable type is event photography. Other types are stock photography, family/baby photography, travel, school, photojournalism and social media photography.

No matter what type of photography business you plan to start, you need a solid photography business plan. You can quickly complete your photography business plan using our Photography Business Plan Template here .

What Are the Main Sources of Revenues and Expenses for a Photography Business?

The primary source of revenue for photography businesses are service fees for photoshoots and video, licensing fees and photo editing. Other revenues are also generated from product sales like prints, albums, cards, wall prints and canvas.

The key expenses for photography businesses are equipment expense, advertising, transportation, and labor or professional fees.

How Do You Get Funding for Your Photography Studio Business Plan?

Photography businesses are typically funded through small business loans, personal savings and credit card financing.

This is true for a wedding photographer, pet photography business, commercial photography business, a portrait photography business or any other type of photography services.

Download your plan in word or PDF to share with investors.

What are the Steps To Start a Photography Business?

Starting a photography business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Photography Business Plan - The first step in starting a business is to create a detailed business plan for a photography business that outlines all aspects of the venture. This should include potential market size and target customers, data on the photography industry, the services or products you will offer, pricing strategies and a detailed financial forecast.  You can quickly complete your photography business plan using our Photography Business Plan Template here .

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your photography business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your photography business is in compliance with local laws.

3. Register Your Photography Business - Once you have chosen a legal structure, the next step is to register your photography business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your photography business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Photography Equipment & Supplies - In order to start your photography business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your photography business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful photography business and photography business planning:

• How to Start a Photography Business

Where Can I Get a Photography Business Plan PDF?

You can download our free photography business plan template PDF here . This is a sample photography business plan template you can use in PDF format.

Step-by-step guide on how to write a strong photography business plan

Claim your free Nextdoor business page

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This article was updated on December 2, 2022

Starting a successful photography business involves more than having a camera and a keen eye for beauty. As a business owner, you must also have a solid business plan.

Without one, your professional photography business may have no legs (or tripods) to stand on. 

Creating a photography business plan is simple. This complete guide will cover all you need to know about writing a comprehensive business plan—from executive summaries to competitive analyses. 

What to include in a photography business plan:

• Write an executive summary
• Describe your photography business
• Outline your products and services
• Analyze your finances and list out business expenses
• Understand your competition and the photography industry
• Devise a sales and marketing strategy
• Set operations logistics and management structure
• Perform customer and market analysis
• Establish a timeline and exit strategy
• Round out your business plan with Nextdoor

1. Write an executive summary

Perhaps you’ve been dreaming of running your own photography business since the day you picked up your first disposable camera, or maybe you just started outlining your vision in recent months. Whatever the case may be, you’ll need to match those dreams with quantifiable business goals and a clear course of action. 

Defining your mission is one of the most important aspects of a strong business plan and almost always comprises the first section. In the executive summary, you will explain your business details such as your business name, and a summary of your business plan in a few sentences.

When defining your business as a professional photographer, it’s crucial to cover two key components: the executive summary and the business description.

2. Describe your photography business

Following the executive summary, the business description section is the place where you'll describe the ins and outs of your business.

Effective photography business descriptions usually contain the following information:

• A history of your business
• An overview of your business structure

Let's break down these two essential components further.

As a professional photographer, your business's history is more than just a summary of facts. It's your unique story . Your passion for what you do should come through in every line.

Include life and color into your business plan by detailing the following:

• Your personal relationship with photography
• Your professional work experience
• The origins of your business and the values you intend to uphold

Describing your history with photography not only gives potential stakeholders an inside look at your motivations but also gives you an outline for an "About" section on your future website.

REAL BUSINESS EXAMPLE: Johnson City, Tennessee's Hunter Kittrell Photography is a business that knows the power of storytelling. Their website's "About" section mentions how the business's founder, Hunter Kittrell, got his start in photography after college and how his love of adventure inspires his work. Look to this small business as a model for your own and add in all of your business's unique details to compel potential clients to work with you.

Business structure

Few business descriptions are complete without an outline of the business structure. To define your business structure, consider the following:

• Type - Is your business a sole proprietorship or an LLC? A partnership or corporation? If you're just starting out, there's a good chance your photography business will be a sole proprietorship. However, if you're thinking of future growth (and outside funding), it may be wise to consider an LLC. Whichever business type you choose, providing this information in your business plan will help you think through the management and other logistical structures.
• Management and business operations - Most U.S. photography businesses have less than two employees . However, if you're planning on employing more people and/or having a detailed managerial structure, it may be wise to include this in your business description. Furthermore, it may be helpful to include details about business hours and studio location(s).

While businesses, especially startups, can experience a number of operational changes during the first couple of years, outlining your initial business structure is a smart way to set up your photography business for continued success.

3. Outline your products and services

The best business plans clearly specify the business's products and photography services. As you draft your plan include the following details:

• Photography type - Will your business specialize in commercial photography, marketing photography, landscape photography, portrait photography, pet photography, or wedding photography? Will you mainly shoot individual portraits or family portraits? Identifying your niche in the photography industry in your business plan will allow you to structure other elements of your business model around that particular focus.
• Pricing model - When it comes to the financial aspects of your business, few details are more important than your business's pricing model. Will you charge by the hour or by the photoshoot (regardless of time)? Is photo editing included in the package or is there an additional cos t ? Look at other photographers for example pricing; likely event photography pricing is structured differently than landscape photography. You would also need to consider your business expenses and budget when setting your rates. Being as specific as possible about your pricing model will help you estimate your income and also p rovide a clear outline of your rates for potential clients.

REAL BUSINESS EXAMPLE: Based in Manchester, New Hampshire, Image of Home Real Estate Photography is a small business with a big-time, three-tier pricing model. Their website states that they charge by the square foot and offer the additional benefit of same-day image delivery. This pricing model was, more than likely, hashed out in the business plan. Settle on the pricing specifics for your business and be sure to share them on your online platforms so that they are clearly visible to the public.

4. Analyze your finances

When it comes to financial planning, the more you can foresee, the better. This will keep you from overextending your budget in terms of expenses or overestimating your revenue in your first year. 

To adequately plan for finances, detail the following in your business plan:

• Expenses – Expenses include everything from ordering business cards to the cost of equipment to your studio space. Make a list of everything you’ll need to pay for to get your business up and running. Doing so will also help you budget for the unknown, such as buying an extra lens in case one breaks or hiring an assistant to lend a hand on a particular photo shoot.
• Projected revenue – To stay afloat in the long run, you’ll need to bring in more revenue than you’re spending. As a result, it’s wise to calculate your projected revenue alongside your expenses in your business plan—especially in the first year. These calculations will allow you to budget properly and change your strategy should your financial situation change.
• Set up bank accounts and EIN - Most professional photographers tend to work independently or work by case. Therefore, it is better to separate your work bank accounts and credit cards from your personal accounts to manage your finances. Further, even if this is a small business, you still need to apply for an EIN (employee identification number) from the IRS for legal purposes.

In addition, figuring out where you stand financially will enable you to find room in your budget for marketing strategies and competitive analysis metrics.

5.  Understand your competition

An often overlooked, yet highly important, section of most business plans is the competitive analysis section. 

Researching your competition is beneficial for many reasons. Not only will you better understand your competition’s pricing models and services, but you’ll also learn how you can set yourself apart from competitors. Given the fact that there are more than 40,000 professional photographers in the U.S. , knowing how to stand out in the industry will make sure your one-of-a-kind business doesn’t get lost in the shuffle. 

When writing your competitive analysis section, it’s helpful to answer the following questions:

• How many photographers are located in my area?
• Am I fulfilling a specific niche (i.e. landscape, portrait, etc.)?
• What are my competitor’s pricing models?
• What are their marketing strategies?
• What are my competitors doing well? What could they improve upon?
• Who are my potential client pods and are they overlapping other existing photography businesses?
• How will I provide a necessary and unique photography service?

Of course, there are many more questions you could ask when thinking about your competition, but these should help you get started.

6. Devise a sales and marketing strategy

Good business plans almost always focus on business growth. But to grow your business and attract new clientele, you need to market yourself. 

Detailing your marketing strategy is, therefore, a crucial component of a strong business plan. If you’re wondering how to get photography clients, you’ll want to employ a number of different marketing tactics.

When writing the marketing section, it’s helpful to think of the following strategies:

• Social media marketing – Given that social media is a major conduit of ideas and information, it’s important to develop a social media strategy for your photography business. As a photographer, your portfolio and past works are the best marketing materials. Image-sharing platforms make the most sense, but you’ll want to consider the potential of other platforms, too. For example, if you want to attract local clientele , the best way to connect with your neighborhood is on Nextdoor. This community-minded platform allows you to set up custom business ads or create a Business Page where you can showcase important aspects of your business—from operating hours to services.
• Email marketing – In your business plan, detail how you intend to use email to market yourself. Will you send around a quarterly email discussing new trends in the photography world? Will you deliver special holiday emails urging your target audience to take advantage of discounted holiday shoots? Generating an email list is an effective way to keep clients in the loop about what’s happening with your business.
• SEO marketing – SEO, or search engine optimization, is a critical strategy that will help drive potential customers to your website. To improve the quality of your site, you’ll want to decide which type of keywords are important to your business and build content around them to make your website more discoverable by Google and other search engines. You can do this by adding informational content to different pages on your website, as well as creating a photography blog with helpful tips and information for users. For example, if you are a portrait photographer, you can add keywords such as family pictures or graduation portfolio photos.

7. Set operation logistics and management structure

This section gives you the opportunity to first think through the details of your business workflow then define how you will manage the logistics of your day to day operations. A major part of your photography business will likely be post processing and photo editing before final delivery. Spend time defining how long editing will take after a shoot. How many days afte r a shoot will you promise delivery to your customers? What methods of payment are you planning to accept? Other topics to address in this section may include:

• Primary and backup suppliers
• Equipment inventory
• Transportation expenses
• Management and staff structure if applicable

8. Perform customer and market analysis

C ustomer and market analysis is a critical part of your photography business plan; it helps define the size of the market needing your service as well as your ideal client. Here you will justify your target market and specify niche segments within that market. To do this answer the following:

• What is your dream client - age range, gender, location, demographics, and style of photo shoot. Will you specialize in high end weddings, aerial photography, sports photography, or something else? 
• What are the needs of these customers
• how your services address these needs. 
• What is the growth potential of your market segment? Including considerations such as the number of potential customers, their annual income, frequency of photography style needs

9. Establish a timeline and exit strategy

This later section describes your timeline for the goals and objectives outlined earlier in the business plan. Describe how soon you plan to become profitable, within what timeframe do you plan to meet your revenue objectives, or even when you might plan to hire employees to help grow your business. While it may seem far off, planning how you may want to exit your business years down the road may open up questions and considerations that can have a big impact near term. For some, selling their business to a larger investor is the end goal, for others, keeping photography as a small side gig to pass to their children is the exit strategy - no matter your desired path, document it here. 

10. Round out your business plan with Nextdoor

Developing a strong photography business plan is often the first step in running a successful business. Now that you’re equipped with all the tools to execute it like a pro, you’ll be well-prepared for a promising future ahead. 

But no plan is truly complete without Nextdoor — the neighborhood hub that connects you with your local community so that your photography business can flourish.

Claim a Nextdoor Business Page today to simplify the process of building your brand. That way, you can get back to what truly matters—working your magic behind the camera.

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Thanks to the proliferation of smartphones with sophisticated cameras on them (for mobile devices, that is), it seems like everybody wants to try their hand at being a photographer. But not everyone has what it takes to start a business.

There’s a vast difference between those who can take the perfect selfie and those who can capture the perfect moment and call themselves professional photographers. If you’re wondering how to start a photography business, know there's much more to it than pointing your iPhone and slapping on a filter.

As with any professional endeavor, starting a photography business requires a significant investment of time and money to secure equipment, register your business, and build your portfolio. Luckily, the photography industry startup costs are relatively lower than in other industries. Depending on your focus, needs, and current equipment, you can learn how to start your photography business step-by-step as soon as today.

Step 1: Write a business plan

All business owners should write a business plan—that includes even solo photography businesses. A business plan is critical to outlining your services, understanding your target market, and setting your rates.

When you start thinking about these details upfront, it will help you start and scale your business to the heights you’ve always dreamed of. It doesn’t have to be a lengthy or tedious process either. Be sure to check out our guide on how to write a business plan to get you started.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Step 2: Register your business

Next, you'll want to register your business—meaning you legally establish your business. To do so, you should choose the right business entity for your business and choose a business name.

Choose a business entity

Many photography business owners register as a sole proprietorship or a limited liability company (LLC). Each legal structure offers certain benefits.

The most popular advantage of sole proprietorships is that they’re free to form. However, a sole proprietorship doesn’t protect you against personal liability.

Many photography businesses form an LLC because you enjoy additional benefits like reduced liability and choosing to be taxed as a sole proprietorship or corporation. Moreover, having “LLC” in your business boosts your professional appearance.

The entity you choose will have a big impact on your business, from taxes to liability and more, so be sure to consult with a business attorney or tax professional if you're unsure of the right choice for you.

Choose a business name

Dedicate some time to thinking about your business name. It will be your potential clients’ first contact with your brand, and you want to ensure you strike a good first impression. After deciding on a business name, do a quick secretary of state business search to ensure the name is unique and available.

If you’re operating under a sole proprietorship, you'll want to file a DBA when registering your business. As a sole proprietorship, your business name defaults to your own legal name. If you want to operate under a different name (one that mentions photography, for instance), you'll need a DBA. DBA requirements can vary by state, so be sure to do your research.

Step 3: Obtain business licenses, permits, and insurance

Your business now legally exists, but to make sure you continue to operate legally, your next step is to obtain the proper business licenses, permits, and insurance.

Business license and permits

Securing the right business license or permit is key to learning how to start a photography business legally. Be sure to check with your local city hall and state licensing board to ensure you’re complying with the necessary regulations.

Business insurance

You may not think it necessary as a photography business, but you should always look into insurance. Insurance adds another level of protection from costly liability disputes if you ever encounter a disgruntled customer. Do some research into business insurance policies to shield you from professional and general liability.

Step 4: Set up EIN, bank account, and credit card

To start doing business, you'll need a separate place for your money to live. That's where EINs, bank accounts, and credit cards come in.

Obtain an EIN

Even if you’re a one-person photography business, you should still apply for an employer identification number, or EIN, from the IRS .

Your EIN is the business equivalent of a social security number for an individual, and you will include it when filing your business taxes with the IRS. Moreover, your EIN is crucial when opening your business bank account and applying for a business loan in the future, should you decide to.

Open a business bank account

It’s always a practical idea to separate your business and personal finances. Mixing your personal and business finances can compromise any legal protections gained from forming an LLC. Even sole proprietorships benefit from this division because it makes bookkeeping easier come tax season.

One way to distinguish your business and personal finances is to open a business checking account . You can deposit cash or invoice payments collected from your photography gigs in this account. Also, remember to use these bank account funds for business-related expenses only.

Open a business credit card

A dedicated business credit card is another practical tactic for separating your business and personal expenses. You may be surprised that you have a separate credit score for your business. By regularly using your business credit card, you boost your business’s financial health, helping you secure a business loan in the future.

Step 5: Purchase or upgrade your equipment

Professional photographers have top-of-the-line (read: often expensive) cameras. But you don’t need brand-new, expensive equipment when you’re first starting a photography business. As you gain more experience and increase your income, you can upgrade your toolkit over time.

“As a young photographer, I started with more amateur equipment—a camera, a lens, and a flash,” says Alexa Klorman, owner of Alexa Drew Photography in New York City. “Then, as my business grew and as I started to get more clients and increase my price, I wanted to make sure that the quality of my photos was validated in what I was charging.”

Startup costs

If you’re serious about your photography, you’ll want to create a business budget that will help you grow your toolkit. Below is a list of recommended tools and accessories with approximate prices:

Camera : $1,000 to $2,000

Camera lens: $1,000

Memory cards: $50

External drives: $100

Laptop for editing: $2,000

Website hosting : $50

Backdrops and lighting: $500

Editing software: $20.99 per month (Photoshop)

Tripod: $100

Camera bag: $150

Accounting software: $10 to $30 per month for basic plans

Chances are, you already have many of the items on this list, like a camera and laptop, which can dramatically reduce your startup costs.

Build a relationship with your supplier

Whether you need a new camera body or lens, or something simple like a memory card, you need a photography equipment supplier. Amazon is often a convenient and inexpensive marketplace to source your needs. But the cheapest option isn’t always the best.

“I go to Adorama in NYC. I love going there because I know the people there; I always go to the same guys. They always give me a good deal—they’re honest and kind,” says Klorman.

When you first start your photography business, Klorman recommends establishing a relationship with a local shop to keep track of your purchases. Being a loyal customer can open opportunities for cost-saving deals and even client referrals. The best part: You’re supporting a fellow small business owner.

Step 6: Price your services

When starting a photography business, pricing your services is where many people get stuck. Your formula should include time, plus labor, as well as a fee for using your resources. Here are a few tactics to help you set your prices:

Choose your niche

The niche you choose will influence the value of your photography services. For example, a professional wedding photographer can charge $2,000-plus for their services. In contrast, a family photographer might charge $400 for a photoshoot.

Choose what you want to focus on—whether it’s weddings, newborns, corporate events, or some combination of multiple areas—and then start accumulating samples to showcase your abilities. As you grow your portfolio, you can eventually raise your rates.

Check out the competition

To get an idea of where to start, do what Klorman did: Look to your peers and grow from there.

“I looked up other photographers in the area, and I started pretty low on the pricing scale. Then every few months, I’d bump it up a bit, then bump it up a bit. And I’d always say, ‘I’ll wait to see if inquiries and emails drop off, and if they do, I’ll lower it back down.’”

Of course, don’t raise your price just to raise it. Once you find yourself working with your preferred clientele, you can stick with a price that works for you. Similarly, stay firm on what you charge.

“I find that people generally accept my pricing; they don’t negotiate so much,” Klorman says. “I have my price, and I’m pretty strict about sticking to it because it’s a fair price. Because I’m transparent with what my packages cost, generally when people contact me, they’re ready to book.”

Figure out how long each job takes

Part of what may affect your pricing is how long each photography job takes. Also, be mindful of your time beyond the photoshoot—processing, editing, uploading, and distributing your photos are time- and labor-intensive. Be sure to factor these steps into your price point, so you’re not underpaid for all your hard work.

Portrait sessions generally last between one-and-a-half and two hours. This produces somewhere in the range of 75 to 100 images, edited in both black and white and color. Events can lead to hundreds of photos, though it depends on how long the event lasts.

Don’t be alarmed if you need a bit longer than this when you first start your photography business. You’re still settling into your workflow and deciding what works best for you. With time and experience, you’ll finish things more quickly and with improved quality.

Step 7: Market your business and find clients

With your photography business up and running, the next step is finding clients so you can start earning money. Here are some strategies to market your business.

Referrals are the lifeblood of many businesses, and the photography business is no exception. The most effective marketing—the kind that professionals would kill for—is positive word-of-mouth referrals. And it doesn’t cost a dime. When you’re starting your photography business, think about how you can develop positive referrals.

Klorman stands by word-of-mouth marketing, attributing 90% of her gigs to be referral-based. “I pride myself on my referrals,” she says. “I don’t invest money in marketing. I would rather spend more time making my clients feel awesome, giving them amazing photos, and building a relationship with them.”

Leverage social media

Social media is no longer only a tool to connect with old friends and family. Now, it’s a real business tool helping them connect with their target customers.

If you want to upgrade your marketing strategy, go to where your target customers are hanging out. For example, if you’re a wedding photographer, join local Facebook groups for soon-to-be brides. Chances are, they’re on the lookout for a wedding photographer—a perfect opportunity to pitch your amazing services.

Instagram is another great way to build your portfolio. Instagram is a visual platform, and your stunning collage of photos might inspire a future business inquiry. Also, you can expand your reach by contacting wedding photography profiles to feature your work.

Tips for finding your first client

But what if you’ve never done a photoshoot or worked with a client before?

If you’re wondering how to start a photography business with no experience, worry not. If you don’t have a portfolio, you can do a free photoshoot for your friends and family. Yes, you’re giving your time and labor away for free, but this is often necessary for new photographers. In return, these free gigs will build your experience and create sample pieces that you can market to future clients.

While posting your photography on social media can be helpful, you may want to build your small business website. Getting your own real estate on the internet creates a central resource for prospects to view your work and contact you. Also, having a dedicated domain name for your business adds a professional flair to your brand.

Step 8: Sell your photography online

Don’t limit your income to only the photography gigs you do with clients. You can also learn how to start a photography business by selling your images online. Many websites need stock photos to enhance their content and branding, and stock photo sites will pay to add your work to their database.

If you want to supplement your photography income, here are stock photo marketplaces you can visit:

Adobe Stock

iStockPhoto

Getty Images

BigStockPhoto

DepositPhotos

Shutterstock

Start Your Dream Business

The bottom line

Photography isn’t just a popular hobby; it can be a legitimate business, provided you have a passion for capturing timeless memories. Starting a photography business takes as much dedication as any other business, but the bonus is your work can be visceral and affecting. It’s also a business that is easy to start small and build up.

So, stop messing around with the photo apps on your smartphone. If want to learn how to start a photography business on the side and grow it into a full-time income, it’s time to take what you learned and get started.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

On a similar note...

How To Start A Photography Business In Four Steps

Updated: Dec 12, 2023, 1:25am

Table of Contents

Before you begin: set up a business entity, steps to starting a photography business, bottom line, frequently asked questions.

Everybody wants great photographs of important days or everyday memories. If you have a basic understanding of photography and want to expand your skills, starting a photography business could be the perfect way to develop your creative skill set and launch a profitable hustle. Read our simple guide on how to start a photography business so you can develop your creative skillset while making a side income or launching a full-time career.

Define Your Business Entity

When starting a photography business, you’ll want to determine how large you want to start out and how to scale. If you’re initially going to be your only employee, you can start out a sole proprietorship or LLC . This is ideal if you want to start as a side hustle and see if you can grow from there.

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If you want to immediately hire employees such as other photographers, web designers or marketing professionals, you may consider registering your business as an LLC or S-corp . Both are good options but have different tax implications.

Register Your Business Name

When you pick a name for your business, you might need both a business name and a trade name (or a DBA; “doing business as…”). Before picking a name, you’ll have to make sure that the name you want to use isn’t taken. If the business name is going to be something other than your legal name, you’ll want to still pick something simple and easily recognizable.

Step 1. Purchase the Right Equipment

In order to set yourself up as a competitor in the photography industry, you’ll need the best equipment possible. A professional studio will need not just a camera, but also lights, reflectors and backgrounds. Wedding photographers or nature photographers will need to invest in very high-quality cameras and accessories due to the more spontaneous nature of their subjects.

A top-notch camera can cost several thousand dollars, while individual lenses can cost up to $1,000 depending on their niche use. You’ll also need memory cards and potentially external backup drives to safely store images, which can easily cost about $100 each. Making a list of everything you need and pricing them out is important to get started.

In addition to the camera, you’ll need to purchase a license for photo editing software. Adobe Photoshop is the most well-known, so that’s what most people start with. You’ll also need a computer with high bandwidth and storage space because photo files can be quite large. Being able to store, edit and process all of these photographs is important for sending them to clients.

If you’re a film photographer, you’ll need a whole other set of equipment, including access to a darkroom. Before going on a spending spree, research the materials you will need and price out what will best suit your needs for the initial stages of growth for your business.

Step 2. Consider Your Niche

At the same time as you purchase your equipment, you’ll want to figure out your niche. If you’re offering a full-service photography studio, it’s still necessary to know who your ideal client is. If you want to take headshots exclusively, you’ll need to set up your space and equipment in a way that serves that niche.

High-quality wedding photographers are also always in high demand. If you’re marketing to engaged couples, it would be a good idea to reach out to well-established wedding services brands like Zola or The Knot and apply to be featured on their vendor lists. Follow the companies that serve the audiences you want to capture.

There are many talented photographers, but you can create an edge in your photography business by providing services that other businesses might not. For example, if you’re running a headshot studio, it would be a good idea to partner with a makeup artist who can provide touch-ups to your clients getting their portraits done.

Step 3. Conduct Market Research

Before you start taking on clients, determine your rates and how to charge customers. If you want to charge hourly, make sure you’re being compensated fairly for your time. Offering flat rates is good for customers as well; you can offer a variety of packages to clients so they’ll know exactly what they’re getting and you’ll know exactly what work is expected of you.

To know your competition in the photography business space, you have to research their offerings and see what’s missing. Filling a gap in the market is always a possibility for new businesses. If you’re very talented at editing or have a great studio space compared to other photographers, or even specialize in action shots, you can choose to charge a premium for these services.

Photography businesses should also set rates for when customers request additional edits. Your time is at a premium, especially with photo editing because it takes a long time, and you should make it clear to customers that they should respect the time and attention you devote to this creative work.

Step 4. Establish an Online Presence

Before anyone hires you, they’re going to want to see examples of your work. Use a portfolio website builder to showcase the images that best display your skills and make sure your contact information and prices are clearly displayed. Photography is obviously a visual industry, so having a professional website is crucial to give potential clients a positive impression before you ever even meet.

If you want to allow clients to contact you through the website, make sure you find a compatible customer relationship management (CRM) software that will make it easy to stay in touch with them through each step of the process. Some are also compatible with digital invoicing software that will help ensure you get paid on time.

Photography businesses can have a high startup cost, but if you have a strong vision and a unique niche, it’s a great place to nurture both creativity and business skills. Being the owner of a photography business can also be really rewarding because you might end up photographing the best day of someone’s life. If you’re working on headshots, that could also create a big change or success for your client. Nature photographers also capture some of the most beautiful moments in the world. Even with all of the startup costs, a photography business creates and memorializes priceless moments.

Do I need an LLC for my photography business?

It depends on how large you want your business to be, but it may be a good idea to form an LLC . This prevents disgruntled clients from being able to sue you for personal assets, and you can claim all of your photography equipment as business expenses on your taxes.

Do you need a license to be a photographer?

No, you do not. If you’re taking photos in private businesses, you’ll likely need their permission or an agreement of some kind. However, these are easy to put in place with a simple phone call.

How much does it cost to start a photography business?

Between business registration, computer equipment, software, cameras, lenses, backdrops and more, the startup costs for a photography business can add up quickly. While the total budget will vary depending on your unique situation, you should expect to spend at least $10,000 to get started.

Do I need to specialize in a certain type of photography?

While you can provide general photography and not specialize in a specific type or style of photography, becoming a specialist will help get your name out better and provide word-of-mouth opportunities from previous clients. There are several photography services that you can provide, including wedding photography, portrait photography, fashion photography, business photography, sports photography, wildlife photography, food photography, boudoir photography, photojournalism, travel photography and fine art photography. Specializing in one or more of these styles can help get your name out to the general public faster and also result in larger paydays if you have good skills.

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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

Cassie is a deputy editor collaborating with teams around the world while living in the beautiful hills of Kentucky. Focusing on bringing growth to small businesses, she is passionate about economic development and has held positions on the boards of directors of two non-profit organizations seeking to revitalize her former railroad town. Prior to joining the team at Forbes Advisor, Cassie was a content operations manager and copywriting manager.

HOW TO WRITE THE ULTIMATE PHOTOGRAPHY BUSINESS PLAN

Table of contents, 1. summarise your services and products, 2. describe your target market, 3. analyse your competitors, 4. conduct a swot analysis, 5. outline your marketing plan, 6. outline your operations plan, 7. work out your finances, 8. set goals and create systems, 9. write an executive summary.

What is your main photography service?

List any other photography services your offer, how do your photography services complement each other, describe the products you provide to clients.

Sum up your ideal client in one sentence

What are the top 3 desires you can help with, what are the top 3 pain points you can help with, what will connect you and your ideal client, 3. analyse your competitors.

List 2 or 3 of your closest competitors

Describe their services and products, who are they appealing to, what is their price point and position, what are they doing well, what could they be doing better, write 3-5 adjective to describe their brand, 4. conduct a swot analysis.

Make a list of your strengths

Acknowledge your weaknesses, where are the opportunities, are there any potential threats, 5. outline your marketing plan.

What makes your business stand out?

Write your elevator pitch, write your big, bold statement (tagline), define your brand personality and tone of voice, what content are you going to create, which social media platform will you use and how, will you do any face-to-face marketing, will you seek publicity for your business, how will you generate and nurture leads, how will you create loyalty and encourage referrals, 6. outline your operations plan.

Describe the enquiry and conversion process

Describe the booking and onboarding process, describe the shoot or wedding process, describe the post-shoot/wedding process, describe the product sales process, describe the order fulfilment process, describe the process beyond order fulfilment, 7. work out the finances.

Summarise your CODB and salary aims

Where are you positioned in terms of price, which pricing model is right for you, 8. set goals and create systems.

Decide on your financial goal

Map out your systems, what needs to happen for your systems to work, 9. create an executive summary.

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How to Run a Photography Business (Complete Guide)

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This article explores how to run a photography business. Becoming a professional photographer isn’t easy, and the prospect of running a business can seem daunting. But with the right knowledge and application, you can turn a photography hobby into a career.

There are many things you need to think about when running a photography business. There are essential laws and legal paperwork you need to be aware of, as well as marketing and client-sourcing techniques. 

While that might sound complicated, we’re here to help. This article breaks down the process of starting a photography business with handy tutorials packed with vital information. Once you’ve finished, you’ll have the confidence to run a photography business. 

How to Run a Photography Business

When you imagine being a professional photographer, your thoughts are probably dominated by fancy cameras and glamorous photo shoots. These elements do play a part, of course, but professional photographers also have to deal with the less glamorous side of running a business.

You are no longer just a person with a camera. You now have to think of yourself as a professional—as a brand. That means you have to take everything from client correspondence to financial transactions seriously. 

Booking studio space and models has to become like second nature to you. You’ll also need to know how to write and complete every type of contract and release form.

Revenue has to be one of your main concerns, as that’s how you put bread on the table. Making money with photography isn’t easy, but there are ways you can diversify your income streams so you always have money flowing in. 

We start the article by looking at the basics of becoming a professional photographer. Then we cover marketing and social media strategies to help you get ahead of the competition. We also have everything you need to know about the legal paperwork for photography businesses. 

Each section has a link to a full-length article on the topic, so remember to click to learn more. 

Becoming a Professional Photographer

Becoming a photographer takes hard work and dedication. Mastering the basics of exposure, depth of field, and light is essential when starting out. Practice as much as possible to improve your skills.

Find your photography niche based on what you enjoy and the types of photography that provide an income. Carefully invest in the right equipment for your niche. Build a strong portfolio that showcases your abilities as a professional photographer in your chosen area.

Share your work online to establish your brand and get exposure. Get organized and always behave professionally to build trust and a solid reputation. Be proactive in finding work and seeking out opportunities in your local area. Always ask for compensation for your services, whether it’s financial payment or credit and exposure.

To learn more about how to become a photographer , we have an in-depth guide that covers everything you need to know.

Is It Easy?

Being a photographer isn’t always easy. It can be a competitive field, with many amateurs willing to work for low pay or even for free. This makes it hard to charge what you’re worth and can lead to getting ripped off.

The pay can be inconsistent, especially when you’re just starting out. You may have to spend a lot of time away from home for jobs. And you’ll encounter demanding clients who expect perfection, even when it’s not realistic.

Photography also requires investing in expensive gear to get professional results. You may find yourself shooting the same subjects repeatedly to specialize in a niche. And post-processing can be a boring but necessary part of the job. Despite the challenges, many photographers find the rewards worth it.

Being a photographer has its difficulties, but it can also be a fulfilling career for those who are passionate about it.

Prep for Your First Shoot

Preparing for your first client photo shoot is important. Create a mood board to share ideas with your client and make sure you’re on the same page. Visit the shooting location ahead of time to check for potential issues like harsh sunlight or crowds.

Bring backup gear in case of technical problems. Rent or borrow extra cameras, lenses, and lighting equipment. Hire an assistant to help with tasks like holding reflectors and changing lenses.

The day before the shoot, finalize your equipment checklist, clean your gear, charge batteries, and look up directions. On the day of the shoot, arrive early to set up and test your lighting. Have model releases and contracts signed upfront. Being prepared will help you focus on creativity during the shoot.

If you’d like to learn more about how to prepare for a photo shoot , we have a detailed guide in this link.

Successful Client Sessions

Planning your photo shoot is key to success. Make a list of ideas and discuss them with your model beforehand. Pack carefully and don’t forget important gear like lenses or batteries.

Embrace the location in your portraits, but keep the focus on your model. Blur the background if needed to avoid distractions. Take a variety of shots, including wide, medium, and close-ups. Have your model look in different directions, not just at the camera.

Control the lighting to set the mood. Use flash or reflectors to soften the light and make your model look their best. Communicate with your model to help them relax and pose naturally. Listen to their ideas and try them out.

Having a successful client photo shoot  takes practice, but these tips will help you capture stunning portraits.

Studio Photography Basics

Setting up a photography studio doesn’t have to be complicated. You can start with just a background and stand. If you have plenty of window light, you can achieve professional results even in a small space.

As you earn more, consider buying artificial lights. Begin with one light and modifier, then grow your kit as needed for more complex lighting setups. Take your time getting used to the equipment.

Before you know it, you’ll have a full-size studio that can handle all your photography needs.

If you want to learn more about studio photography , we have a detailed guide that covers everything from equipment to lighting techniques.

Responding to Requests

As a photographer, you may receive requests for free photography. While it can be flattering to get attention, it’s important to remember that your time and skills are valuable. Before agreeing to work for free, consider the costs and benefits.

There are some situations where offering a free photo shoot can be beneficial, such as when building your portfolio or getting credit from a well-known publication.

However, in most cases, it’s best to politely decline requests for free photography. Explain that you appreciate their interest but cannot allow your photos to be used without payment due to the costs associated with taking and editing them.

If the requester is still interested, provide them with your reasonable licensing rates. The price per photo will depend on factors such as the size of the image, the publication’s circulation, and the duration of use.

By conducting yourself professionally and knowing your worth, you can successfully navigate requests for free photography.

Click this link to learn more about responding to requests for free photography .

Starting Your Photography Business

Starting a photography business requires careful planning. Create a business plan that outlines your structure, target market, finances, and long-term vision. Consider diversifying your income streams with photo shoots, classes, and online courses.

Choose a business structure like a sole proprietorship, partnership, LLC, or corporation. This determines the paperwork you’ll need to file. Pick a memorable name for your business that reflects your long-term goals.

Build a marketing plan based on your target clients. Use social media, blogs, or community events to reach them. Focus on building relationships and making your clients happy.

Growing a successful photography business takes time and hard work, so be patient and stay committed to your goals.

If you’d like to learn more about starting a photography business , we have a detailed guide with all the essential info.

What You Need

Starting a photography business requires some essential equipment. A full-frame camera like the Canon EOS RP is a good entry point for serious photographers.

Lenses are just as important as the camera. A couple of good-quality, fast lenses will give you the sharp, high-quality imagery that you need as a professional. Prime lenses tend to be sharper than zoom lenses.

Other important equipment includes a sturdy tripod, memory cards, a card reader, extra batteries and charger, lens filters, lens hoods, backup drives, a color calibrator, a color checker, a grey card, a reflector kit, and possibly a lighting kit with modifiers and stands.

Check out our full article if you’d like to learn more about what you need to start a photography business .

Writing a Business Plan

A photography business plan is a road map to success. It outlines your goals and how you’ll achieve them. Your plan should include an executive summary, a description of your services, your target market, and marketing strategies.

Assess your competition and find what makes you unique. Develop a timeline and consider your operations strategy. Plan your financials for the first three years, including expenses like gear, software, and marketing.

A photography business plan is key to a successful photography career. It helps you prepare and set goals. Start working on yours today, and you’ll be ahead of most photographers who don’t have a plan.

Running a photography business can be expensive. There are many costs to consider, such as liability insurance, web hosting, backup drives, memory cards, batteries, software subscriptions, and more. These expenses add up quickly and can make it challenging to turn a profit.

It’s important to understand the cost of doing business (CODB) before setting your prices. Your CODB is the total amount it costs you to run your business, including all monthly and annual expenses. Anything you make over that amount is your profit.

When determining your rates, consider your living expenses and savings goals in addition to your CODB. Price yourself high enough to pay your overhead, turn a profit, and put some aside for slower periods or gear upgrades.

By understanding your cost of doing business , you can set prices that reflect your value and ensure the sustainability of your business.

Finding a Studio

Finding a cheap photography studio rental is possible, even on a limited budget. Consider unusual locations like classrooms, museums, or rec centers that rent out space by the hour or day. Airbnb listings can also work well, and some are even dedicated studio spaces.

Talking to a realtor about empty retail or office spaces available for temporary rental is another option. You can also use the client’s home or office if it’s suitable for the shoot. Joining a studio co-op allows you to share the cost of a dedicated space with other photographers.

Creating a studio in your own home is a popular choice for many photographers starting out. Finally, taking the studio outdoors can work for certain types of shoots and even boost creativity.

To learn more about photography studio rental , check out our in-depth guide.

A photography shot list is a great way to stay organized during a photo shoot. It’s essentially a checklist of the images you want to capture. Shot lists can be simple written notes or more advanced, like sketches or storyboard-style illustrations.

Using a shot list opens up communication between you and your client. It helps manage expectations and acts as proof of what was agreed upon. A shot list also makes the most of your time by keeping you focused on the shots you need.

To create a shot list, consult with your client about their needs and expectations. Write down all the shots that come to mind, then narrow it down.

Break your list into sections like must-haves, detail shots, and wide shots. When shooting, keep your shot list handy on your phone for quick reference.

Photography shot lists are a valuable tool for efficiently capturing all the important images. Check out our full article for setting up a complete shot list.

A photography logo is the first thing potential clients see, so it’s important to create one that represents your brand. Using an acronym of your business name can keep your logo compact and recognizable. A signature or script text adds a personal touch and is unique to you.

Simplicity is key—a bold font makes a statement about your professionalism. Incorporating photography imagery like a camera or film roll clarifies that you’re a photographer. Using your initials to create a symbol—like turning them into a tripod—is creative and memorable.

Your logo should show your photography style and niche, whether it’s analog, landscape, or wedding photography. A simple illustration style with a hand-drawn feel can also give your logo a distinct look.

Creating photography logo ideas can be tricky, but with a little inspiration, you can create the perfect one for your business.

Business Card Designs

Photography business cards are an essential tool for networking and showcasing your unique style. They allow you to quickly share your contact information and give potential clients a glimpse of your work.

When designing your photography business card, include your name, email address, website, and any relevant social media accounts. You can also add a QR code that links to your online portfolio or website.

To make your business card stand out, consider using unique materials like transparent or metallic paper, or opt for an unusual shape or size. Including a small print of one of your photos is another great way to showcase your skills and style.

If you’re interested in learning more about photography business cards , there are many creative designs and ideas to explore in our full-length article.

Cliche Name Game

Naming your photography business can be a challenge. When you’re feeling stuck, take a break and try our fun photography name generator for inspiration.

The generator combines a positive adjective, something pretty or colorful, and a funny way of saying photo or photography. The results may sound cheesy, but they can shake up your creative energy and lead to unexpected ideas.

Remember, the best business names are easy to remember and give customers a sense of what you do. If you specialize in a certain niche, consider including that in your name.

For more tips on naming your photography business, read our photography name generator article.

The Legal Side of Starting a Business

To start a photography business legally, you need to understand the laws in your country. Copyright laws protect your photos, giving you ownership and control. However, you may need a release form to use photos with recognizable people or private property for commercial purposes.

It’s important to have the right legal paperwork. Photography contracts protect both you and your client by setting clear expectations. You may also need a photography license, depending on your location.

A photo licensing agreement outlines how a client can use your images. Photo release forms grant permission to use an image and are essential for photographing people or property.

Take a deeper dive into the laws and legalities of running a photography business in our detailed article. 

Must-Know Photography Laws

Photographers must understand copyright law if they want to protect their work correctly. Copyright is automatically applied to photographs at the moment of creation, giving the photographer ownership and control over the image. This means the photographer can reproduce, sell, and use the photo however they wish.

However, there are some restrictions when photographing people or private property. In the U.S., a photographer needs a release form to use someone’s likeness commercially.

There are some exceptions for photojournalism and fine art. But in general, you can’t do whatever you want with a photo of someone without their permission.

It’s important for photographers to know their rights and responsibilities when it comes to copyright law. Understanding concepts like commercial use, fair use, release forms, and the difference between public and private property is essential.

By educating themselves on photography laws , photographers can avoid legal issues and protect their creative work.

Photo Licensing Agreement

A photo licensing agreement is a contract that grants specific usage rights to a client or collaborator.

The agreement outlines how the image can be used, such as in print or online, the number of people who will see it, and for how long. This protects you as the creator of the image and helps avoid misunderstandings with clients.

Clients may not understand why they need a licensing agreement. They might think they own the images and can use them however they want. In this case, you’ll need to educate them on the transaction and how it works.

The licensing agreement should be specific about the end use of the image and the brand’s visibility. High-profile businesses should have different terms and prices than small local businesses.

Click on this link if you’d like to learn more about photo licensing agreements .

Photo Release Form

A photo release form is a contract between the photographer and the subject that grants permission to use the image. It’s required in the U.S. to use someone’s likeness commercially. The form can include limits on usage and an expiration date.

There are different types of photo release forms. Model release forms are for photographing people, while property release forms cover buildings and objects. Print release forms give clients permission to make prints. Minor release forms are signed by a parent or guardian for subjects under 18.

You need a photo release form if the subject is recognizable and the photo will be used commercially or for advertising.

To learn more about photo release forms , including free templates you can use, check out our in-depth guide.

Model Release Form

A model release form is a legal contract between a photographer and the subject they photograph. It’s one of the most important documents for photographers, as it protects both parties and prevents future complications or lawsuits.

The form outlines the rights of the photographer, client, and model regarding the use of the images.

Model release forms are essential for commercial photography, where the photos may be used for promotion or sales. However, the specific requirements vary depending on the country, state, and intended use of the images.

It’s crucial to research local laws and regulations to ensure your model release form covers all necessary aspects.

To make the process easier, consider using a template rather than creating your own from scratch. A well-written model release form should include the subject’s personal information, a witness signature, and clear terms regarding the usage rights of the images.

Read all about model release forms in our educational article.

Marketing for Photographers

Marketing is a top priority for any professional photographer who wants to succeed. Building a professional website has never been easier or more affordable. And social media can help boost your online profile and make your work more visible. Sending your photos to magazines is another great way to get more eyes on your work.

To learn more about marketing for photographers , including SEO, sales, and more, this article is a helpful resource with in-depth information on these topics.

Easy Marketing Strategies

As a freelance photographer, you won’t have a dedicated marketing team to promote you and your work. That’s why having a basic understanding of professional marketing is so important. 

Ask for referrals from friends, family, and clients. Make sure you have a professional website with a portfolio and testimonials ready. Producing great photos encourages people to recommend you and your services to others.

Create targeted social media ad campaigns to attract your ideal audience. Use eye-catching images, and behind-the-scenes videos or before-and-after comparisons can go viral.

Attend local business networking events to build relationships. Bring business cards and flyers, and be prepared to briefly introduce yourself. Look for real estate agents or brokers who may need your services.

Real estate photography marketing involves a variety of strategies to reach potential clients and showcase your work. By implementing these tips consistently, you can grow your business and attract more customers in your local market.

Getting Noticed

To get your photography noticed, make sure your images are high-quality and visually interesting. Experiment with creative photo projects and share them on photography websites to showcase your skills.

Running a photography blog is a great way to build your online presence and attract more viewers to your work.

Entering photography contests can help you gain recognition, but be sure to read the terms and conditions carefully. Getting your photos published in magazines or newspapers, both online and locally, can attract potential clients.

Joining photography forums and social networks like Facebook, Instagram, Twitter, and LinkedIn allows you to reach a wide audience.

Uploading your work to photo-sharing platforms like Flickr, 500px, and Behance can provide exposure and networking opportunities. If you have compelling images, you may even gain new clients.

Learn more about getting your photography noticed with our helpful guide.

Attracting Clients

Identifying your ideal client is key to targeting the right audience for your photography business. Research your target market’s media consumption habits to focus your marketing efforts on the most relevant platforms. This will save you time and money.

Attract more clients by launching targeted social media campaigns on platforms like Facebook and Instagram. You can also host an open photo shoot to show potential clients what it’s like to work with you. It’s a great opportunity to network and showcase your talent.

Create a quarterly email campaign featuring your latest work to remind your clients of your services. Offer special promotions and loyalty programs to attract new clients and retain existing ones. Incentivize people to refer you, but be careful not to cheapen your brand.

If you’re looking to get photography clients , consider joining freelancing websites or volunteering to photograph events in your local community.

Writing a Website Bio

Writing a photographer bio for your website is an important task. Your bio introduces potential clients to the person behind the camera, adding depth and personality to your online presence. Keep your bio simple and concise, using clear language that’s easy to understand.

Your bio should reflect your unique personality as a photographer. If you have a fun and lighthearted style, feel free to inject some humor into your writing. However, if you’re a serious professional, stick to the facts and avoid forcing jokes where they don’t fit naturally.

Include relevant information about your photography career, such as notable commissions, awards, or achievements. A photo of yourself can also add a nice personal touch.

By crafting a well-written bio that showcases your skills and personality, you’ll create a strong first impression for potential clients visiting your website.

We have more valuable information about writing a photographer bio in this blog post.

Website Builders

Finding the best website builder for photographers is essential to start your business. Every photographer needs their own website as a portfolio, storefront, and business hub. The more professional your website, the more success you’ll have as a photographer.

Wix is the best website builder for photographers. It’s a well-priced website builder anyone can use. Wix is a no-code platform with drag-and-drop design tools, so you don’t need web design experience. There are thousands of design options to develop your own branding.

If you’d like to see more of the best website builders for photographers , our list has all the top options.

SEO is important for photographers to drive traffic to their website and attract more clients. Search engines like Google index and rank web pages based on relevance to a user’s search query. Optimizing your website and online presence can help you appear higher in search results.

To improve your photography website’s SEO, make sure your site is mobile-friendly and contains relevant keywords. Blogging regularly with high-quality content keeps your site fresh.

Getting backlinks from other reputable websites and maintaining an active social media presence also boosts your search rankings.

Setting up a free Google Business listing allows you to appear in local search results and on Google Maps. Use Google Analytics to track your website traffic and learn more about your visitors.

SEO takes sustained effort, but it’s worth it to generate more organic traffic and grow your photography business.

SEO for photographers is important for any photographer with a website or blog, so click the link to find out more. 

Social Media for Photographers

Social media is a powerful tool for photographers to showcase their work and attract clients. Instagram and Facebook are two of the most popular platforms. To get the most out of them, it’s important to post high-quality photos consistently and engage with your followers.

On Instagram, use relevant hashtags to make your photos easier to find. Write engaging captions that tell a story or provide context for your images. Interact with other accounts in your niche to build a community around your work.

For Facebook, create a dedicated photography page separate from your personal profile. Share your best photos and include links to your website or portfolio. Encourage fans to like and share your page to expand your reach.

By building a strong presence on social media, you can grow your photography business and connect with potential clients.

To learn more about social media for photographers , our in-depth guide covers everything you need to know.

Creating a Facebook photography page is a great way to showcase your work and build a community of fans. To get the most out of your page, select the right category when registering.

Listing yourself as a website rather than a public figure has advantages, such as being able to reach more than 10,000 fans.

Fill in the About section with information about who you are and what you do. This will help your page show up in Google searches.

Choose a profile picture that best represents your photography business, and use the cover photo to advertise your services or display your best work.

Share your portfolio on your Facebook photography page, but be selective. Only post your best images, as the album is only as strong as its weakest photo.

Watermark your photos to protect them from theft, but keep the watermark small and unobtrusive. Post regularly to keep your fans engaged, and add a call-to-action button to direct them to your website.

By following these tips, you can create an effective Facebook photography page that showcases your work and attracts new clients.

Instagram is probably the best social media platform for photographers. It allows you to showcase your best work, generate a following, and attract new clients and collaborators. 

Use Instagram as a social media diary to look more approachable. Post behind-the-scenes shots that your audience can relate to. Choose a username and fill out your bio so people can find you.

Find accounts important in your field for reposts and targeted campaigns. Use niche hashtags with under 250,000 posts to make your photos stand out. Be consistent with your posts to gain relevant followers.

Reply to all comments to broaden your Instagram network. Use your visibility to reach out to brands for photography opportunities. Keep your captions simple to hold people’s attention.

Building and maintaining a popular Instagram photography account takes time and effort, but it can lead to lots of business opportunities.

Writing Captions

Writing great captions for Instagram can make a big difference in how your photos are received. A clever or funny caption adds to the photo’s impact. Keep the caption informative but catchy, and explain the story behind the image.

Write in a conversational tone using present tense, as if talking to a friend. The caption’s style should fit the platform, and consider character limits. On Instagram, captions under 125 characters are the most readable.

Identify key people in the photo, and consider using a relevant quote or song lyrics. The caption should add value and not just state the obvious. Captions that create involvement and engage viewers often work best on social media.

Captions for Instagram take some thought, but the right one enhances your photo’s message. With practice, you’ll find it easy to write the best captions for your images.

Using Hashtags

Hashtags are a great way to get your photos seen by more people on Instagram. Using the right hashtags can help you reach a wider audience and gain more exposure for your work.

It’s important to use specific, niche hashtags rather than broad, popular ones. Your photos will get lost in the sea of content if you use hashtags with millions of posts. Instead, find hashtags that are relevant to your photography style and have an active, engaged community.

You can also create your own unique hashtags to stand out from the crowd. This allows you to build a community around your brand and feature your followers’ photos.

By using a mix of popular and niche hashtags, as well as your own branded hashtags, you can maximize your reach and engagement on Instagram with photography hashtags .

Profitable Photography Careers

If you’re looking for profitable photography careers, there are several options to consider. Stock photography is a great way to make money from your images. Capture photos that are in demand and submit them to stock agencies to create a steady income stream.

Travel photography is another option. You can sell your photos to magazines, newspapers, tour operators, and travel companies. Wedding photography can also be very profitable, especially during the summer months.

Other photography careers include commercial photography, editorial photography, product photography, photojournalism, fitness photography, and real estate photography. With hard work and dedication, you can turn your passion for photography into a successful career.

Check out the full article on photography careers to see which is best for your business model.

Stock Photography

Taking stock photos that sell requires capturing high-quality images that are in demand. Research current trends and plan your shoots around popular concepts like business, lifestyle, and outdoor activities. Use a shot list to ensure you capture all the angles and scenarios you need.

Edit your files and choose only the best images to sell. Add relevant keywords and descriptions so potential buyers can find them. You can sell your stock photos through agencies or market them yourself.

Learn more about how to take stock photos with our in-depth tutorial.

Travel Photography

Travel photography jobs can be an exciting and rewarding career path for those with a passion for photography and adventure. To succeed, you’ll need exceptional photography skills that set your work apart from the billions of travel photos uploaded daily.

Business skills are equally important, as you’ll need to market yourself effectively to find work.

Travel photography jobs can be physically demanding, requiring long hikes with heavy gear and the ability to handle challenging weather conditions. You may also face irregular sleep schedules and spend a lot of time alone or with strangers.

If you’re serious about pursuing travel photography jobs, having a strong online presence is essential. A professional website showcasing your portfolio, a blog to share your work and experiences, and active social media accounts can help you get noticed.

With hard work, diverse income streams like print sales, stock licensing, writing, and teaching, and a willingness to get creative, you can turn your love for travel and photography into a successful career.

Read our full post on travel photography jobs to start making money from your next adventure.

Commercial Photography

Commercial photography covers a wide range of niches, from fashion and product photos to food and architectural images. To succeed, you need to keep your network active, maintain a professional attitude, and ensure you’re shooting with the best gear.

Stay on top of the latest photography trends and develop your own distinct style to stand out. Be creative in your approach while still meeting the client’s needs.

Avoid rookie mistakes by continuing to learn and improve your skills. Build a strong portfolio showcasing your best work in different styles.

Always carry business cards and gather recommendations to attract new clients. When working with a client, communicate clearly to understand their requirements, provide an accurate quote, and discuss usage rights.

Commercial photography can be very rewarding if you’re willing to work hard. It can also be one of the most lucrative areas of professional photography, so it’s definitely worth considering.

Product Photography

Product photography is a broad field with many different specialties. From 360-degree shots to flat lays, there’s a type of product photography for every product and style.

Some popular types include Amazon product photography, which requires a white background and specific composition. Photographing artwork, clothing, furniture, and jewelry each has its own unique challenges and techniques to master.

Lifestyle product photography shows items in real-life scenarios to help customers imagine using the products themselves. Other niches like makeup, nail, and beer photography are growing in popularity for advertising and promotion.

To learn more about the various types of product photography , check out our detailed blog post.

Magazine Photographer

Becoming a magazine photographer takes hard work and dedication. Choose a specialty to stand out from other photographers. Ask friends to pose for practice shoots to get comfortable with your camera.

You don’t need expensive gear when starting out. Even entry-level mirrorless cameras with a prime lens are enough to create magazine-worthy images. Build a strong portfolio with at least 10 of your best photos that showcase your unique style.

Promote your work on Instagram to increase your reach. Study the photographs in magazines you want to work with to understand their style. Contact editors to introduce yourself and share your portfolio. To become a magazine photographer, you need to create work that is truly unique.

If you’d like to learn more about becoming a magazine photographer , we have a detailed guide that covers everything you need to know.

Internships

Photography internships offer students valuable work experience and a chance to fast-track their careers. Interning with a professional photographer or studio while studying can help you network and gain practical skills that you can’t get in the classroom.

During an internship, you’ll apply what you’ve learned to real-world situations and gain insight into the business side of photography. You may assist with lighting setups, post on social media, or help stylists on set.

The amount of hands-on shooting experience varies depending on the photographer and their niche.

Internships are a great way to evaluate your career goals and find gaps in your knowledge. While they may not lead to immediate employment, they can open doors for future opportunities.

To learn more about photography internships , including how to find one and what to expect, follow the link to the full article. 

How to Make Money as a Photographer

Transforming your photography hobby into a career takes effort, but there are many ways to make money with your skills. Finding reliable income streams is key to becoming a professional photographer.

You can sell your services as a photographer or sell the photos you create. Selling landscape photos, stock photography, and doing real estate photography are some of the best ways to get started. You can also sell prints online, offer Lightroom presets, or even turn your images into NFTs.

To be successful, research what subjects are in demand and plan your photo shoots around popular concepts. Build a strong portfolio of your best work to attract clients. If you’re passionate about photography and willing to put in the effort, you can turn it into a rewarding career.

To learn more about how to make money with photography , read the full article for helpful tips and strategies.

Sell Prints

Selling photography prints online is a great way to make extra money from your work. There are many platforms to choose from, each with its own strengths and weaknesses.

Squarespace is a popular website builder that works well on all devices. It’s easy to use but not made just for photographers.

Fine Art America is one of the biggest places to sell prints online. They let you sell more than just prints, like pillows and phone cases. But there is a lot of competition on the site.

Etsy is well-known for selling art and handmade items. It has over 30 million buyers. You are in charge of printing and shipping the prints yourself. If you want full control, selling prints on your own website is a good choice.

Plugins like Envira or platforms like Photoshelter, Format, Zenfolio, and SmugMug make it easy to sell prints from your site.

To sell photography prints with the most success, try using a mix of different platforms and methods.

Pricing Prints

Selling photography prints can be a great way to make money from your images. To get started, decide if you want to focus solely on selling prints or if you’ll also work as a photographer for specific clients.

Research what types of photos sell well as prints, such as beautiful landscapes, iconic cityscapes, and wildlife.

Choose only your best images to print. They should be technically perfect and have the most “value” to potential buyers. Consider various papers, sizes, finishes, and materials for your prints, but keep costs in mind.

Factor in all expenses like printing, shipping, VAT, and credit card fees. Then add a percentage markup for profit, but make sure the price is still reasonable. If a print doesn’t sell, you may need to reduce the price or accept that it might take a while.

Learn how to price photography prints by reading our in-depth article.

Real Estate Photography

Getting paid to take pictures of houses is a great way to turn your love of photography into a career. To get started, research your local market to find out what real estate photography jobs cost in your area.

You’ll also need to decide if you want to work with interior designers or real estate agents.

Create a basic website with sample images and your contact info. Plan out your real estate photography process, including a rate sheet, contract, delivery method, and how to wrap up a project.

Connecting with potential clients is key, so attend in-person social events, spread the word to family and friends, and use social media to showcase your work.

To get paid to take pictures of houses , focus on improving your skills and building a client list. With solid research, an efficient workflow, and visibility online and in person, you’ll soon have a steady flow of photo shoots.

Sell Lightroom Presets

Adobe Lightroom presets are a quick way to edit photos and achieve a specific look. If you have a knack for photo editing, you can create and sell your own Lightroom presets. Start by editing your photos to create a unique style that others will want to use.

Package your presets and price them competitively. Look at other preset packs to find a general price range, then price yours on the high side. You can always offer discounts or have a sale later.

Market your presets on social media platforms like Instagram. Post before and after photos to show the difference your presets can make. Emphasize how easy they are to use. Busy professional photographers will pay for quality presets that save them time.

Check out our full tutorial on how to sell Lightroom presets by clicking this link.

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The Single Best Insurance Policy Every Small Business Needs

Updated May 28, 2024 - First published on May 27, 2024

By: Ben Gran

• If you own a business of any size, in any location, and in any industry, you need to think about small business liability insurance.
• Liability insurance for your business is like liability insurance for your home or car -- it protects you from costly damages and worst-case scenarios like lawsuits.
• The best insurance companies for home and auto policies also often offer small business insurance.

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Small business owners don't usually love thinking about insurance. You're in business to make money, create products, meet people, drive growth, and generate forward momentum in life -- not worry about lawsuits, catastrophic losses, ruinous risks, and worst-case scenarios. But that's exactly why small business insurance is so important: it protects you from the unthinkable worst-case scenarios.

Let's look at what small business liability insurance is all about, and why your business needs it.

What is covered by small business liability insurance?

Business insurance selection guide.

Choosing the right small business insurance is essential for protecting your assets and ensuring your operations run smoothly in the face of unexpected events. It’s about finding coverage that fits your specific needs and provides peace of mind as you grow. The tool below is designed to guide you through the selection process in a friendly, straightforward manner, helping you secure the perfect insurance plan that safeguards your business’s future.

Here are a few types of risks and threats that you can protect yourself from with small business liability insurance.

Personal injuries (and lawsuits)

A classic example of why businesses need liability insurance is "what if someone slips and falls down the stairs at your restaurant, and sues your business?" Business liability insurance can help defend you against lawsuits, resolve personal injury claims, and pay medical costs for this type of unfortunate situation (and others).

Property damage

There are various types of property damage and financial costs that your business could be held liable for:

• What if you own a construction firm, and one of your employees accidentally damages a customer's home during a renovation project?
• What if you're driving the company car and you crash into a building?
• What if your moving crew accidentally drops a customer's TV and breaks it?

Having property damage insurance coverage can help your business run more smoothly. It gives everyone peace of mind that you, your employees, and your customers are protected in case of accidents, mistakes, or other costly losses.

Professional liability

If your business provides professional services, like accounting, consulting, or advisory services, you can get a customized business liability policy that covers you in case of a lawsuit for professional errors, mistakes, negligence, or misjudgments. This type of coverage is also called "Errors & Omissions" (E&O). The best insurance companies can help you get a liability insurance plan that covers the particular risks facing your industry or profession.

Employment practices liability

Once your business hires its first employee, and especially after you have many employees, your liability insurance needs become more complicated. Employment practices liability coverage can help protect you in case of a lawsuit by an employee -- such as discrimination, harassment, wrongful termination, or other issues with employment law.

This type of liability insurance is usually not included with a general liability insurance policy; instead, you have to buy this coverage as an add-on endorsement. Also, this insurance is different from workers' compensation insurance, which your state will also likely require you to have for your employees.

Why every small business can benefit from liability insurance

Small business owners have a lot to consider: customer needs, product development, staying ahead of competitors, maximizing marketing, beating sales goals, getting paid on time, managing cash flow, paying the bills, and making payroll . The last thing you need in your life is another costly, unexpected check to write. Or worse, a financially and emotionally draining lawsuit that makes you pay legal fees out of your own bank account.

Small business liability insurance makes sure you don't have to pay for all these costs yourself. No matter what size of small business you own, or what industry you're in, you should buy small business liability insurance.

Bottom line

Ready to sign up for small business liability insurance? An independent insurance agent can help you find a good policy. Or if you like the insurance company that covers your home and auto, check to see if they offer business insurance too. The best home insurance companies often offer business insurance coverage, as well as personal policies.

Small business liability insurance is not usually expensive (typical premium costs might start at $40-$55 per month). But it can save you many thousands of dollars and provide priceless peace of mind.

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Ben Gran is a freelance writer based in Des Moines, Iowa. He has written for regional banks, fintechs, and major financial services companies. Ben is a graduate of Rice University.

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How to Start a Successful Photography Business

Lisa Furgison

12 min. read

Updated May 10, 2024

Free Download:  Sample Photography Business Plan Template

If you have some creative photography chops, you might want to  open your own business . You’re not alone in wanting to turn your creative outlet into a money-making venture. Photography is a popular profession and hobby right now—and that’s the problem. As camera gear has become more affordable and consumer-friendly, and almost every smartphone now features a great camera, everyone’s a photographer. 

But, that doesn’t mean you should toss your dreams of owning a photography business aside. It just means you may have to work a little harder to set yourself apart from the flock of amateur shooters.

To help you find your photography foothold, we asked three professional photographers who started their own businesses to share their tips for success.

• 1. Write a photography business plan

For starters, wedding and event  photographer Peggy Farren  says  you need a business plan . Any serious entrepreneur will tell you that you need to organize your thoughts on paper. This detailed document serves as your roadmap, describing what your business is and how it will be profitable. It breaks down things like  cash flow , expenses, ownership, and competition.

“Photography is one of the most competitive businesses out there,” Farren says. “You need to be a very good business person to make a decent living. You’ll get there much more quickly if you start out right.”

Creating a business plan may seem like a daunting task, but it doesn’t have to be if you have the right tools. Check out this free, downloadable  sample photography business plan . 

• 2. Assess your photography business startup costs

As part of your business planning process, you’ll need to  assess your startup costs . What are the essentials that you’ll need before you can really launch your business?

Camera equipment alone can cost upwards of $10,000, Farren says. You’ll also need  business licenses ,  insurance , a website, and accounting software like  QuickBooks  or  Xero .

What about a studio? 

Do you plan to start with a dedicated studio space or work out of your home? If you need office space, you’ll need to investigate commercial rental properties and figure that monthly cost, along with the cost of utilities, into  your financial plan .

• 3. Secure startup funds

If you have enough money in your bank account to start your business you may not need to borrow money, but many entrepreneurs need assistance. Many people who are starting a business for the first time end up asking family or friends for help, or keeping their day job until their business is self-sustaining. 

Whether you  ask friends and family for financial assistance  or  apply for a bank loan , you’ll need a business plan in place that lays out how you’ll spend the funds and when or how you’ll pay your lenders back. 

• 4. Figure out your personal finances

If you’re just starting out, realize that your business probably isn’t going to be profitable overnight. It took 18 months for Farren’s business to  break even  and make enough money to pay the bills. Like Farren, you might have to work another job to make ends meet until your business is generating enough money.

• 5. Get professional photography experience

You’ll need to show your prospective clients what you can do, and working alongside a professional photographer is a great way to get some experience and start to build a portfolio. Farren worked as a photographer’s assistant while starting her own business. 

Equally important is using that experience to put together a  photography portfolio  that demonstrates your skill. Consider your audience and build the portfolio around what they want to see. Keep it updated, so new potential clients can see current and relevant work.

• 6. Buy camera gear

When it comes to camera gear, Farren says you’ll need two cameras, two high-quality lenses, two flashes, and Photoshop and Lightroom to edit the images. Why two cameras? You need backup equipment. Even new equipment breaks, Farren says.

If you buy used gear, you can get everything for about $5,000, but Farren says $10,000 is more realistic. Of course, you can always upgrade gear as you go.

• 7. Determine your photography business pricing plan

How  much will you charge for your services ? It’s a tough question for every photographer, especially when you’re just starting out. Figure out what one hour of your time is worth. Let’s say your time is worth $50/hour. 

For every hour you spend shooting, you’ll spend about three hours editing. You need to factor that into your pricing. So, in this equation, you would charge $200 for a one-hour photo session. Of course, your pricing structure is your own, this is just a way to come up with a starting point.

• 8. Create a website for your photography business

Once you’ve  come up with a name  for your photography business,  you’ll need a website . There are free website templates out there, but your website is like your storefront. You want it to be impressive, so think about whether it’s better to have your website professionally created.

Your website should, of course, showcase your work. That’s what your clients will want to see. Keep your site organized by breaking your galleries up by category. Include a picture of yourself and a page that describes your background and experience. 

Contact information is also a must. It’s a good idea to list at least some of your prices. This helps manage customer expectations and keeps people from trying to negotiate for a lower price. Here’s what Farren uses as a pricing guide on her website.

Ok, you’ve got everything in place and you’re ready to start shooting pictures. Now, how do you get customers?

• 9. Create your own photography business brand

Jason and JoAnne Marino have a unique brand for their photography business.

You need to set yourself apart from others, according to husband and wife photography duo Jason and Joanne Marino. The pair own  Imagine Photography , a company that attracts couples who are interested in unique wedding pictures, not the conventional altar photos.

“You can’t be everything to everybody or you’ll fail miserably,” Jason Marino says. “To attract customers you must carve out a brand and style.”

Start by identifying your  target market . Do you prefer to do maternity shots? Newborns? Senior portraits for high schoolers? 

Figure out what makes you unique as a photographer and use it to brand your business.

• 10. Network for your photography business

As a photographer and a new business owner, you need to network your heart out, Marino says.

“You can be the greatest photographer in the world, but unless people know about you, it won’t do you any good,” he says. “Join groups, forums, clubs, collectives, whatever you can. Make sure these people know about you and respect you, and you’ll get referrals.”

• 11. Be an approachable photographer

As a photographer, you don’t just need mad composition skills, you need people skills too, Marino says. You want to make sure the client has a great experience. Not only will your client trust you, which results in great shots, but a good experience also means your client will refer you to others.

If appropriate, meet with your clients before the shoot. Wedding photographers set up engagement photo sessions as a way to get to know their clients before the big day. If you’re not offering wedding photography, make sure you sit down and talk with the client before you start snapping pictures. 

Make a little small talk and chat about expectations. Remember, you’re not just selling great pictures—you’re selling an experience.

• 12. Have a friends and family rule

Your friends and family will probably be some of your first customers, which is great. You’ll be extremely grateful for the opportunity and probably feel inclined to give them a discount. There’s nothing wrong with that, but remember, you’re trying to make a living. You should come up with a standard friends and family plan and stick to it.

• 13. Promote your photography business on social media

Social media is a great promotion tool, but it’s best to start out with one or two sites and use them consistently. Facebook might be a good option, but you might want to lean towards one of the more visual social media channels like Instagram. One of the most important pieces of keeping whatever channel you choose to use active and updated.

When the Marinos are working on a shoot, they share teaser pictures on their Facebook page like the example below. It’s a great way to showcase work and keep customers interested.

Grow your photography business

Now that you’ve got the wheels in motion, let’s talk about how to pick up the pace.

• 14. Market your photography business

Jane Goodrich , a New York-based children’s photographer, says one of the best ways to grow your business is to invest more in marketing.

Google ads for your photography business

Goodrich swears by  Google ads.  She uses some of her marketing budget to buy keywords that generate more website traffic. 

Team up with charities

Farren uses other unique techniques to grow her business. For instance, she teams up with charities that run high-end silent auctions.

“Not only are you getting your name in front of wealthy people, but in most cases, the clients will purchase much more than the free prints that come with the package they bought at the auction,” she says.

Generate an email list and add to it constantly

Through the years, Farren has also generated an impressive email list. She uses that list to send clients a monthly newsletter, which she says is her best marketing tool. She credits a lot of her repeat business to the newsletter as it keeps her business top of mind to her customers.

Whenever you’re at an event, set out an email sign-up form for people to opt into your newsletters.

Maintain a blog for your business

A blog is a great way to establish authority in your field. It’s an open platform to showcase your talent, tips, and opinions. Write about your experiences, your work process, your equipment, how you plan the shots, etc. The topics are endless!

15. Manage your photography business’ financials

It takes time to draw profits from your business, and it takes even longer to put a few bucks in the savings account. But saving money should be a priority as you grow your business. No matter what kind of photography you do, you will sooner or later hit a slow month, Goodrich says. Save money when you’re busy so the lean months are easier to handle. This is about paying attention to your  cash flow , or when cash comes into and out of your business. 

On that note, make your payment terms clear. Many photographers will require a deposit upfront and the balance before releasing photos to the client. Whatever your payment terms, make sure your clients know what they are. 

If you do invoice clients after you’ve already done a shoot, make sure you invoice immediately and that you’ve clearly articulated when payment is due. Waiting for clients to pay you can create a cash flow problem, even if you have plenty of business, and on paper, your business is bringing in lots of revenue. Until you have cash in hand, you can’t pay your own bills. 

• 16. Reinvest in your photography business

Once you have at least three months’ worth of income socked away, then you can start thinking about reinvesting it. From new lenses to better editing software, new pieces of technology can improve your product. To make wise decisions, make a list of the items you want. Prioritize the list and shop around for good prices before you spend your hard-earned money.

17. Diversify your photography business’ offerings

In time you’ll be able to add certain elements to the business that will help you diversify your revenue stream. Goodrich, for example, added maternity and newborn photos to her list of services. Rather than generating all of her income from children’s shoots alone, she was able to generate more money by branching out.

• 18. Improve your photography business

One of the best tips Farren says she can offer prospective photographers is to continue improving their skills. Take classes, watch educational videos, or schedule time to go take pictures of something completely unrelated to your career track—anything to keep your skills sharp.

• 19. Hiring help for your photography business

In the beginning, you’ll  wear all the hats . You’ll set up shoots, take the shots, edit the pictures, and place the orders for prints. When you’re just starting out, you can’t afford to multitask. However, once your business is established, it’s not a bad idea to delegate responsibilities, even if it’s on an as-needed basis.

To do this, Joanne Marino says you need to recognize your strengths and weaknesses. Maybe you’re great at taking pictures but not so hot at editing, or you simply don’t enjoy it. If that’s the case, find a freelancer to help in that area. If you don’t know any freelancers, ask a colleague for suggestions or use freelance sites like  Elance  to post an ad.

As with any new business, you’ll have ups and downs, but if you’re committed to your craft and work to give each customer a great experience, you’ll earn a solid reputation as a go-to photographer.

• Next steps for your photography business

If you’re ready to start your own photography business, you can check out our free photography business plan example and template . Best of luck with your new business!

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Lisa Furgison is a multimedia journalist with a passion for writing. She holds a graduate degree in mass communications and spent eight years as a television reporter before moving into the freelance world, where she focuses mainly on content creation and social media strategies. Furgison has crisscrossed the U.S. as a reporter, but now calls Key West, Florida home. When she's not conducting interviews or typing away on her laptop, she loves to travel.

Table of Contents

• 15. Manage your photography business’ financials
• 17. Diversify your photography business’ offerings

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How to Use Instagram for Business and Drive Results in 2024

Everything you need to know about using Instagram for business — from setting up your account to creating a winning strategy.

Table of Contents

Is your business still “like”-ing the idea of using Instagram, rather than confidently sliding into the DMs of the platform’s full potential? It’s high time to stop scrolling and start strategizing.

If you’re wondering how to use Instagram for business in 2024 , we’ve got you covered. In this guide, we’ll share the top strategies to help your brand thrive on the ever-evolving platform.

Bonus: Claim your free pack of 15 creative Instagram post templates made by Hootsuite’s professional graphic designers. Easily customize them in Canva, and start getting more engagement today.

How to set up Instagram for business in 4 steps

Using Instagram for business is a bit different than using a personal account. But don’t worry, it’s not rocket science! Follow these 4 simple steps to get your brand up and running on Instagram.

1. Switch to an Instagram business account

Before you start using Instagram for business, you need to create an Instagram account for business. It’s free and anyone can do it.

Here’s how to switch your existing Instagram account to a business account:

• From your profile, tap the hamburger (three lines) menu icon in the upper-right corner.
• Tap Settings and privacy . Then, scroll down until you see the Account type and tools menu.
• Next, click Switch to a professional account to change the account you’re logged into into an Instagram business account.
• Tap Continue (you may need to tap it multiple times as Instagram previews the available features of a professional account).
• Select a Category and use the slider to choose whether to show it on your profile, then tap Done .
• Choose Business (unless it makes sense for you to choose Creator ), and tap Next .
• Use the slider to opt in or out of promotional emails from Instagram for professional accounts, then tap Next .
• Add or edit relevant contact details, then use the slider to choose whether to show your contact information on your profile, then tap Next (or tap Don’t use my contact info to skip this step).
• If you plan to connect your Instagram business account with a Facebook business page, follow the prompts to connect your account to your Facebook Page. This is technically optional, but it’s necessary in order to use Instagram shopping features or run ads on Instagram .
• Next, you’ll be prompted to add additional features to your account, like telling Instagram your goals, adding details to your portfolio, and growing your audience. If you want to save this for later, tap the X in the top left corner to close this window and return to your profile.

If you’re interested in making an Instagram account for business simply sign up for a new Instagram account , and convert it to an Instagram business account.

You can have up to five Instagram accounts , so go ahead and keep your personal Instagram account personal if that’s what you prefer. Learn more about the difference between Instagram business and creator accounts .

2. Add business information to your bio

In 150 characters or less, your Instagram bio should describe your brand and showcase your brand voice . We’ve got a full guide to creating an effective Instagram bio for business (complete with templates), but here’s a quick video to walk you through the basics:

Also be sure to make the most of the other components of your Instagram business profile:

• Profile pic: Most brands use their logo. Your profile photo displays as 110 x 110 pixels (cropped to a circle), but it’s stored at 320 x 320, so that’s the size you should upload.
• Link in bio: Link to your website, your latest blog post, a current campaign or a Link Tree .
• Contact information: If you didn’t add contact info during your account creation, you can do so at any time by tapping Edit profile . Instagram will then add a Contact button to your profile.
• Action buttons: If relevant, you can add a button that allows customers to book or reserve appointments or to order food. To use this feature, you need an account with one of Instagram’s partners . Tap Edit profile , then scroll down to Action Buttons.
• Story highlights and covers: Instagram Story highlights are another way to maximize your profile real estate by providing more information about your brand, products, or services. Organize Stories into saved collections, then add some polish with Highlight covers.

Create. Schedule. Publish. Engage. Measure. Win.

3. Connect your product catalog

To tag products in Instagram content, or to run certain kinds of Instagram ads, you need to create a product catalog. You can do this in Meta’s Commerce Manager.

• Head to Commerce Manager and click Start Now , then select Create a catalog and click Get started again.
• Select Ecommerce , then click Next.
• If you have a shop on an ecommerce platform like Shopify or BigCommerce, click Connect to an ecommerce platform and follow the prompts to create your catalog. Otherwise, click Upload product info , name your catalog and click Next.
• Click View catalog to open your catalog, then Add items to start adding products.

We’ve got a whole post on using Commerce Manager if you’d like more details on how this tool works.

4. Turn on Instagram shopping

Once your catalog is full of products, it’s time to turn on Instagram’s shopping features.

• Go to the Get started page.
• Select Get started .’
• Click Create a shop , then Get started , then Next.
• Review the pre-selected sales channels and add or subtract accounts as needed.
• Choose the account/sales channel you want to connect your shop to. If you’re already selling on Shopify or another partner platform, change your Checkout method to reflect this . When everything is set up, click Next.
• Next, choose the countries you want to ship your products to. Note that Instagram Shopping is not available everywhere. You can choose from available countries in the drop-down menu.
• Add in your business email . This is where you’ll get any communication about your Instagram Shop.
• Select your business portfolio or create a new one. Click Next .
• Select the catalog you want to use for your shop and click Next . To select a catalog, it must meet catalog eligibility requirements for shops. You can’t switch this catalog later. Note: If you don’t have a catalog already, you won’t see this step.
• Look over your shop details, review and agree to the Seller Agreement and click Finish setup to complete creating your shop.

We’ve got a full blog post explaining everything you need to know about Instagram Shopping if you want to focus on this particular aspect of using Instagram for business.

How to use Instagram for business: 8 strategies

Standing out as a business on Instagram can be, well, tough. Use these Instagram for business tips to make it easier.

1. Research your audience

A good social media strategy starts with a sound understanding of your audience.

Instagram’s audience demographics give you an overall picture of who uses the platform. For example, 18-34-year-olds represent the largest ad audience on the site.

However, that doesn’t mean your specific audience on Instagram will be made up of 18-to-34-year-olds. For example, looking at the audience insights for my own Instagram account, I can see that my audience skews older than the Instagram average:

You can find demographic information on your existing audience using Instagram Insights , Meta Business Suite , or Hootsuite Analytics . But, if you’re just getting started using Instagram for business, you might not have a large enough following to gain meaningful insights here yet.

In that case, take a look at the demographics of your audience on other social channels and of your existing customer base. While this won’t translate exactly to Instagram, it should give you a sense of who’s interested in your business and what you have to say.

Understanding your audience puts you in a better position to create targeted content and business captions for Instagram that resonate. Since audience research is an important foundation for your content strategy, we’ve got a whole post dedicated to helping you find your target market .

2. Figure out your content mix

Now that you know who your audience is, you need to determine what to share with them. Rather than posting random content whenever the mood strikes, you need to develop a content strategy that speaks to your audience and keeps them engaged, all while contributing to real business goals .

While you should certainly post some promotional content to get people excited about your products and drive sales, you also need to provide content that builds community and sparks engagement.

That might mean including user-generated content or other curated resources , sharing insider expertise about your industry, or joining in on a trending meme. (But tread carefully here—only join in on trends that are appropriate for your brand voice.)

i am wearing a disguise pic.twitter.com/HlWFQb8P22 — no name (@nonamebrands) October 31, 2022

Look for opportunities to develop themes or regular installments that you can build into a series. “Content buckets” allow you to check certain boxes without having to overthink creation. The more planning you do upfront, the better you’ll be able to produce regular content and respond to last-minute or unplanned events.

3. Schedule your content in advance

From Reels to Stories to posts, there are many options when it comes to Instagram content.

The best way to create a unified strategy is to schedule your content across all Instagram surfaces (and other social platforms) using a content calendar . Or, take it up a level and schedule all your content to publish automatically at the right time using a tool like the Hootsuite Publisher . Yes, you can even schedule Stories and Reels in advance.

The added advantage here is that you can create your content in dedicated blocks of time and schedule it to post at the best time for your audience . Even if that time is outside business hours, on the weekend, or in the middle of the night.

4. Tag products

When you share content about your products on Instagram, tagging makes it much easier for people to learn more or buy. You can tag up to 20 products in a photo feed post.

Source: Tory Burch

To tag products, create your Instagram post or Reel as usual. Then, on the final screen before posting, tap Tag products . You can tag products from your own shop or someone else’s, which creates great opportunities for collaboration and cross-promotion.

In Stories, you can tag products using the Product link sticker.

Source: Pat McGrath

5. Track your results (and learn from wins and losses)

With an Instagram for business account, you have access to the platform’s built-in analytics tools to help you understand how well different types of content perform.

There are several other analytics tools available, including Hootsuite’s , that can track longer time frames, automate reporting and make it easier to compare Instagram metrics across other social media platforms.

No matter which social media marketing tools you use, the important thing is to check in regularly to learn what kind of content resonates best with your target audience. You’ll start to see patterns about what generates the most engagement, as well as what kinds of social media content increase views beyond your existing follower base. ( Hint: Try Instagram Reels .)

Use these lessons to hone your content strategy over time.

6. Treat Instagram as a customer service channel

Success on Instagram requires you to engage with your followers rather than just blast content out and hope someone likes it. One important component of this two-way communication is monitoring your DMs for questions, comments, and customer service requests.

Instagram business accounts have access to a couple of DM features that make managing customer service easier on the platform. First, your inbox is divided into Primary and General tabs to make it easier to keep track of your messages. And second, you can create saved replies to commonly asked questions that you can access via keyboard shortcuts.

Hootsuite Inbox makes it even easier to manage your DMs by allowing you to assign messages to the appropriate team members . Or, create templated replies to common questions to save your team time and effort.

Manage all your messages stress-free with easy routing, saved replies, and friendly chatbots. Try Hootsuite’s Inbox today.

7. Automate content creation

The average Instagram business account posts 1.55 times per day on the main feed.

That’s a lot of content!

Luckily, manual content creation is now a thing of the past. These days, it’s easy to speed up content creation processes like copywriting and graphic design with the help of generative AI tools .

OwlyWriter AI is Hootsuite’s latest generative AI tool, free to all Hootsuite users. Use OwlyWriter to generate quick social media captions , and get inspiration for your posts across platforms.

You can also leverage outside tools like ChatGPT, Dall-E, Midjourney, and more. But, because OwlyWriter is oh-so convenient in your Hootsuite dashboard, we recommend starting there. Check out our blog on the best AI content creation tools here .

Always remember, content generated by AI should always be seen as a starting point, not a finished product . Be sure to check over any AI generated content for accuracy, brand voice, style, and tone before posting.

OwlyWriter AI instantly generates captions and content ideas for every social media network. It’s seriously easy.

8. Elevate your grid aesthetics

Looking to make your Instagram grid stand out from the crowd? With Hootsuite’s Instagram Grid integration , you can make a totally aesthetic Instagram grid in just a few clicks.

Here’s how it works:

• Seamless planning: Planning your grid layout has never been easier. With Instagram Grid, you can visualize how your posts will look together , ensuring a cohesive and visually appealing grid.
• Drag-and-drop simplicity: Want to rearrange your grid? No problem. With easy-to-use drag-and-drop functionality , you can experiment with different layouts until you find the perfect arrangement.
• Scheduled posts: Say goodbye to last-minute scrambling. With Hootsuite, you can schedule your grid posts in advance , ensuring that your grid remains active and engaging even when you’re busy.
• Curate like a pro: Discover and curate high-quality content right from the Hootsuite dashboard. Whether it’s user-generated content, AI hashtag suggestions , or trending topics, we’ve got the tools you need to keep your grid fresh and relevant.
• Track your success: With Hootsuite’s analytics dashboard, you can track engagement metrics and understand what resonates with your audience. Use these insights to refine your grid strategy and drive even more engagement.

FAQs about using Instagram for business

Is instagram for business free.

It’s free to set up an Instagram business account, promote your business, and even set up an Instagram shop.

The only fees for Instagram business accounts are ad costs if you choose to run Instagram ads , and selling fees if you use Commerce Manager to allow your customers to check out and complete their purchase within the Meta platform.

There is also no fee to use Instagram Shopping to tag products and direct users to your website to buy them.

What is the difference between personal and business Instagram?

The difference between personal and business Instagram accounts is pretty straightforward. Personal accounts are great for sharing your daily life and connecting with friends and family. But, if you’re running a business or want to promote or sell a product, a business account on Instagram offers tools like analytics, shopping, and advertising to help you reach your goals.

What is the best time to post on Instagram for business?

The best time to post on Instagram for your business depends on who you’re trying to reach and what you’re sharing. Mornings generally bring the most engagement for brand accounts, though certain industries, like real estate, retail, or entertainment accounts, may see more success posting in the evening.

Check out our comprehensive guide on the best times to post on every social network to learn more.

How does Instagram work for business?

By switching your personal profile to a business account, you unlock a treasure trove of tools to boost your business. Get free access to features like Instagram Insights, which lets you peek into who’s engaging with your business on Instagram, or Commerce Manager, which lets you tag and sell products directly on Instagram. It’s like having your own personal business assistant right at your fingertips!

What are the disadvantages of using Instagram for business?

While business Instagram accounts are a great way to sell products and be seen, there are a few drawbacks to consider.

First, increased competition among businesses on the platform can make it tough to secure organic reach. Second, managing a business account requires consistent effort, and eventually you may want to consider hiring a social media manager . Third, unlike personal accounts, where updates are more flexible, business profiles carry the weight of reputation and customer perception. Be sure to read up on managing social media crises before you get started.

Save time managing Instagram for business using Hootsuite. From a single dashboard, you can schedule and publish posts, carousels, Stories, Reels, and ads directly to Instagram — and engage your audience, measure performance, and handle all your other social media profiles. Try it free today.

Easily create, analyze, and schedule Instagram posts, Stories, Reels, and Threads with Hootsuite. Save time and get results.

Become a better social marketer.

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Hannah Macready is a freelance writer with 12 years of experience in social media and digital marketing. Her work has appeared in publications such as Fast Company and The Globe & Mail, and has been used in global social media campaigns for brands like Grosvenor Americas and Intuit Mailchimp. In her spare time, Hannah likes exploring the outdoors with her two dogs, Soup and Salad.

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What to Know About Claudia Sheinbaum, Mexico’s Newly Elected President

Here are five key insights into Mexico’s new president as people wonder whether she will diverge from Andrés Manuel López Obrador’s policies or focus on cementing his legacy.

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By Natalie Kitroeff

Reporting from Mexico City

Claudia Sheinbaum’s list of accolades is long: She has a Ph.D in energy engineering, participated in a United Nations panel of climate scientists awarded a Nobel Peace Prize and governed the capital, one of the largest cities in the hemisphere.

On Sunday, she added another achievement to her résumé: becoming the first woman elected president of Mexico.

Ms. Sheinbaum, 61, captured at least 58 percent of the vote in a landmark election on Sunday that featured two women competing for the nation’s highest office — a groundbreaking contest in a country long known for a culture of machismo and rampant violence against women.

Mexico Election Results: Sheinbaum Wins

See results and maps for Mexico’s 2024 presidential election.

“For the first time in 200 years of the republic, I will become the first female president of Mexico,” she said. “And as I have said on other occasions, I do not arrive alone. We all arrived, with our heroines who gave us our homeland, with our ancestors, our mothers, our daughters and our granddaughters.”

Now that she has clinched the presidency, Ms. Sheinbaum’s next hurdle will be stepping out of the shadow of her predecessor and longtime mentor, Andrés Manuel López Obrador, the outgoing president.

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Large chunk of Wyoming’s Teton Pass road collapses; unclear how quickly it can be rebuilt

A portion of Teton Pass “catastrophically failed,” Wyoming authorities said Saturday, leaving a massive hole along a mountain pass that’s a critical link between small eastern Idaho towns and the tourist destination of Jackson, Wyoming.

This photo provided by Wyoming Highway Patrol shows a damaged section of Teton Pass near Jackson, Wyo., on Saturday, June 8, 2024, that officials said had “catastrophically failed.” (Wyoming Highway Patrol via AP)

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JACKSON, Wyo. (AP) — A large chunk of a twisting mountain pass road collapsed in Wyoming, authorities said Saturday, leaving a gaping chasm in the highway and severing a well-traveled commuter link between small towns in eastern Idaho and the tourist destination of Jackson.

Aerial photos and drone video of the collapse show the Teton Pass road riven with deep cracks, and a big section of the pavement disappeared altogether. Part of the guardrail dangled into the void, and orange traffic drums marked off the danger area. The road was closed at the time of the collapse.

The section that failed first drew attention Thursday when a crack and drop in the road contributed to the crash of a motorcycle.

Geologists and engineers who were sent to the area that day noticed “that crack and that drop started to move a lot,” said Stephanie Harsha, a spokesperson for District 3 of the Wyoming Department of Transportation. A paving crew temporarily patched the road, and traffic began moving again that night.

But that was short-lived as maintenance crews were sent to respond to a mudslide a couple of miles away in the pre-dawn hours of Friday, prompting the road to be closed once again.

Crews then noticed that the damage to the pavement had become more pronounced. Workers trying to figure out a detour around that section left for the night, “and by 5 a.m., this morning, WYDOT had discovered that the road had completely failed,” Harsha said Saturday.

“We were very, very lucky that no crews were harmed. No equipment was damaged,” she said. “So now, engineers and geologists are doing geological assessments on the pass. They’ve been looking at it all day.”

The transportation department said via social media that the road “catastrophically failed” at milepost 12.8.

It was not immediately clear how long it will take to reopen the road, a vital artery for people who live across the border in Idaho and work in pricey Jackson, which is also close to the popular Grand Teton National Park.

Harsha said an alternate route between Jackson and the area of Victor, Idaho, goes more than 60 miles (97 kilometers) out of the way and adds “quite a bit to any commute.”

Gov. Mark Gordon signed an executive order declaring an emergency, which his office said would help the state access additional resources from the Federal Highway Administration to begin repair work.

In a statement, the governor said the transportation department is working on “a long-term solution to rebuild this critical roadway.”

“I recognize the significant impacts this closure has to Teton County residents, regional commuters and the local economy,” Gordon said.

The state of AI in 2023: Generative AI’s breakout year

You have reached a page with older survey data. please see our 2024 survey results here ..

The latest annual McKinsey Global Survey  on the current state of AI confirms the explosive growth of generative AI (gen AI) tools . Less than a year after many of these tools debuted, one-third of our survey respondents say their organizations are using gen AI regularly in at least one business function. Amid recent advances, AI has risen from a topic relegated to tech employees to a focus of company leaders: nearly one-quarter of surveyed C-suite executives say they are personally using gen AI tools for work, and more than one-quarter of respondents from companies using AI say gen AI is already on their boards’ agendas. What’s more, 40 percent of respondents say their organizations will increase their investment in AI overall because of advances in gen AI. The findings show that these are still early days for managing gen AI–related risks, with less than half of respondents saying their organizations are mitigating even the risk they consider most relevant: inaccuracy.

The organizations that have already embedded AI capabilities have been the first to explore gen AI’s potential, and those seeing the most value from more traditional AI capabilities—a group we call AI high performers—are already outpacing others in their adoption of gen AI tools. 1 We define AI high performers as organizations that, according to respondents, attribute at least 20 percent of their EBIT to AI adoption.

The expected business disruption from gen AI is significant, and respondents predict meaningful changes to their workforces. They anticipate workforce cuts in certain areas and large reskilling efforts to address shifting talent needs. Yet while the use of gen AI might spur the adoption of other AI tools, we see few meaningful increases in organizations’ adoption of these technologies. The percent of organizations adopting any AI tools has held steady since 2022, and adoption remains concentrated within a small number of business functions.

Table of Contents

• It’s early days still, but use of gen AI is already widespread
• Leading companies are already ahead with gen AI
• AI-related talent needs shift, and AI’s workforce effects are expected to be substantial
• With all eyes on gen AI, AI adoption and impact remain steady

About the research

1. it’s early days still, but use of gen ai is already widespread.

The findings from the survey—which was in the field in mid-April 2023—show that, despite gen AI’s nascent public availability, experimentation with the tools  is already relatively common, and respondents expect the new capabilities to transform their industries. Gen AI has captured interest across the business population: individuals across regions, industries, and seniority levels are using gen AI for work and outside of work. Seventy-nine percent of all respondents say they’ve had at least some exposure to gen AI, either for work or outside of work, and 22 percent say they are regularly using it in their own work. While reported use is quite similar across seniority levels, it is highest among respondents working in the technology sector and those in North America.

Organizations, too, are now commonly using gen AI. One-third of all respondents say their organizations are already regularly using generative AI in at least one function—meaning that 60 percent of organizations with reported AI adoption are using gen AI. What’s more, 40 percent of those reporting AI adoption at their organizations say their companies expect to invest more in AI overall thanks to generative AI, and 28 percent say generative AI use is already on their board’s agenda. The most commonly reported business functions using these newer tools are the same as those in which AI use is most common overall: marketing and sales, product and service development, and service operations, such as customer care and back-office support. This suggests that organizations are pursuing these new tools where the most value is. In our previous research , these three areas, along with software engineering, showed the potential to deliver about 75 percent of the total annual value from generative AI use cases.

In these early days, expectations for gen AI’s impact are high : three-quarters of all respondents expect gen AI to cause significant or disruptive change in the nature of their industry’s competition in the next three years. Survey respondents working in the technology and financial-services industries are the most likely to expect disruptive change from gen AI. Our previous research shows  that, while all industries are indeed likely to see some degree of disruption, the level of impact is likely to vary. 2 “ The economic potential of generative AI: The next productivity frontier ,” McKinsey, June 14, 2023. Industries relying most heavily on knowledge work are likely to see more disruption—and potentially reap more value. While our estimates suggest that tech companies, unsurprisingly, are poised to see the highest impact from gen AI—adding value equivalent to as much as 9 percent of global industry revenue—knowledge-based industries such as banking (up to 5 percent), pharmaceuticals and medical products (also up to 5 percent), and education (up to 4 percent) could experience significant effects as well. By contrast, manufacturing-based industries, such as aerospace, automotives, and advanced electronics, could experience less disruptive effects. This stands in contrast to the impact of previous technology waves that affected manufacturing the most and is due to gen AI’s strengths in language-based activities, as opposed to those requiring physical labor.

Responses show many organizations not yet addressing potential risks from gen AI

According to the survey, few companies seem fully prepared for the widespread use of gen AI—or the business risks these tools may bring. Just 21 percent of respondents reporting AI adoption say their organizations have established policies governing employees’ use of gen AI technologies in their work. And when we asked specifically about the risks of adopting gen AI, few respondents say their companies are mitigating the most commonly cited risk with gen AI: inaccuracy. Respondents cite inaccuracy more frequently than both cybersecurity and regulatory compliance, which were the most common risks from AI overall in previous surveys. Just 32 percent say they’re mitigating inaccuracy, a smaller percentage than the 38 percent who say they mitigate cybersecurity risks. Interestingly, this figure is significantly lower than the percentage of respondents who reported mitigating AI-related cybersecurity last year (51 percent). Overall, much as we’ve seen in previous years, most respondents say their organizations are not addressing AI-related risks.

2. Leading companies are already ahead with gen AI

The survey results show that AI high performers—that is, organizations where respondents say at least 20 percent of EBIT in 2022 was attributable to AI use—are going all in on artificial intelligence, both with gen AI and more traditional AI capabilities. These organizations that achieve significant value from AI are already using gen AI in more business functions than other organizations do, especially in product and service development and risk and supply chain management. When looking at all AI capabilities—including more traditional machine learning capabilities, robotic process automation, and chatbots—AI high performers also are much more likely than others to use AI in product and service development, for uses such as product-development-cycle optimization, adding new features to existing products, and creating new AI-based products. These organizations also are using AI more often than other organizations in risk modeling and for uses within HR such as performance management and organization design and workforce deployment optimization.

AI high performers are much more likely than others to use AI in product and service development.

Another difference from their peers: high performers’ gen AI efforts are less oriented toward cost reduction, which is a top priority at other organizations. Respondents from AI high performers are twice as likely as others to say their organizations’ top objective for gen AI is to create entirely new businesses or sources of revenue—and they’re most likely to cite the increase in the value of existing offerings through new AI-based features.

As we’ve seen in previous years , these high-performing organizations invest much more than others in AI: respondents from AI high performers are more than five times more likely than others to say they spend more than 20 percent of their digital budgets on AI. They also use AI capabilities more broadly throughout the organization. Respondents from high performers are much more likely than others to say that their organizations have adopted AI in four or more business functions and that they have embedded a higher number of AI capabilities. For example, respondents from high performers more often report embedding knowledge graphs in at least one product or business function process, in addition to gen AI and related natural-language capabilities.

While AI high performers are not immune to the challenges of capturing value from AI, the results suggest that the difficulties they face reflect their relative AI maturity, while others struggle with the more foundational, strategic elements of AI adoption. Respondents at AI high performers most often point to models and tools, such as monitoring model performance in production and retraining models as needed over time, as their top challenge. By comparison, other respondents cite strategy issues, such as setting a clearly defined AI vision that is linked with business value or finding sufficient resources.

The findings offer further evidence that even high performers haven’t mastered best practices regarding AI adoption, such as machine-learning-operations (MLOps) approaches, though they are much more likely than others to do so. For example, just 35 percent of respondents at AI high performers report that where possible, their organizations assemble existing components, rather than reinvent them, but that’s a much larger share than the 19 percent of respondents from other organizations who report that practice.

Many specialized MLOps technologies and practices  may be needed to adopt some of the more transformative uses cases that gen AI applications can deliver—and do so as safely as possible. Live-model operations is one such area, where monitoring systems and setting up instant alerts to enable rapid issue resolution can keep gen AI systems in check. High performers stand out in this respect but have room to grow: one-quarter of respondents from these organizations say their entire system is monitored and equipped with instant alerts, compared with just 12 percent of other respondents.

3. AI-related talent needs shift, and AI’s workforce effects are expected to be substantial

Our latest survey results show changes in the roles that organizations are filling to support their AI ambitions. In the past year, organizations using AI most often hired data engineers, machine learning engineers, and Al data scientists—all roles that respondents commonly reported hiring in the previous survey. But a much smaller share of respondents report hiring AI-related-software engineers—the most-hired role last year—than in the previous survey (28 percent in the latest survey, down from 39 percent). Roles in prompt engineering have recently emerged, as the need for that skill set rises alongside gen AI adoption, with 7 percent of respondents whose organizations have adopted AI reporting those hires in the past year.

The findings suggest that hiring for AI-related roles remains a challenge but has become somewhat easier over the past year, which could reflect the spate of layoffs at technology companies from late 2022 through the first half of 2023. Smaller shares of respondents than in the previous survey report difficulty hiring for roles such as AI data scientists, data engineers, and data-visualization specialists, though responses suggest that hiring machine learning engineers and AI product owners remains as much of a challenge as in the previous year.

Looking ahead to the next three years, respondents predict that the adoption of AI will reshape many roles in the workforce. Generally, they expect more employees to be reskilled than to be separated. Nearly four in ten respondents reporting AI adoption expect more than 20 percent of their companies’ workforces will be reskilled, whereas 8 percent of respondents say the size of their workforces will decrease by more than 20 percent.

Looking specifically at gen AI’s predicted impact, service operations is the only function in which most respondents expect to see a decrease in workforce size at their organizations. This finding generally aligns with what our recent research  suggests: while the emergence of gen AI increased our estimate of the percentage of worker activities that could be automated (60 to 70 percent, up from 50 percent), this doesn’t necessarily translate into the automation of an entire role.

AI high performers are expected to conduct much higher levels of reskilling than other companies are. Respondents at these organizations are over three times more likely than others to say their organizations will reskill more than 30 percent of their workforces over the next three years as a result of AI adoption.

4. With all eyes on gen AI, AI adoption and impact remain steady

While the use of gen AI tools is spreading rapidly, the survey data doesn’t show that these newer tools are propelling organizations’ overall AI adoption. The share of organizations that have adopted AI overall remains steady, at least for the moment, with 55 percent of respondents reporting that their organizations have adopted AI. Less than a third of respondents continue to say that their organizations have adopted AI in more than one business function, suggesting that AI use remains limited in scope. Product and service development and service operations continue to be the two business functions in which respondents most often report AI adoption, as was true in the previous four surveys. And overall, just 23 percent of respondents say at least 5 percent of their organizations’ EBIT last year was attributable to their use of AI—essentially flat with the previous survey—suggesting there is much more room to capture value.

Organizations continue to see returns in the business areas in which they are using AI, and they plan to increase investment in the years ahead. We see a majority of respondents reporting AI-related revenue increases within each business function using AI. And looking ahead, more than two-thirds expect their organizations to increase their AI investment over the next three years.

The online survey was in the field April 11 to 21, 2023, and garnered responses from 1,684 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. Of those respondents, 913 said their organizations had adopted AI in at least one function and were asked questions about their organizations’ AI use. To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP.

The survey content and analysis were developed by Michael Chui , a partner at the McKinsey Global Institute and a partner in McKinsey’s Bay Area office, where Lareina Yee is a senior partner; Bryce Hall , an associate partner in the Washington, DC, office; and senior partners Alex Singla and Alexander Sukharevsky , global leaders of QuantumBlack, AI by McKinsey, based in the Chicago and London offices, respectively.

They wish to thank Shivani Gupta, Abhisek Jena, Begum Ortaoglu, Barr Seitz, and Li Zhang for their contributions to this work.

This article was edited by Heather Hanselman, an editor in the Atlanta office.

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