So a lot of my clients are individuals that are looking to capture images of their car before anything happens to it or they are selling it. I have so many contacting me, that I’ve been thinking about renting a location and building a studio to draw in more clients. I have had several people ask me if I have a studio and I have to let them know that I rent one and we can shoot there. Which is me spending some money on the rental which cuts into my profit. But it would be nice to have my own place to shoot and display my work. To do this though I’d have to spend at least $2000 a month on running it. Advertising would have to be turned up and start marketing that I’m a Studio and not just a photographer. Putting in that much money and hoping to get enough clients to cover the cost is really risky. There are a few locations that do fine art car photography in the US and I’d love to be the one in the middle of the US. I could continue to work the magazines and actually do more work with them since there are so many rides around here that are magazine worthy. And having it listed with the magazines, that would be a way to bring in more money to cover the cost of running and renting a studio.
Shooting more with my large 12×80 softbox and loving the results. So If I were to move into a studio I’d have to build something larger which would really turn up the quality of my work. So I guess what I’d have to do is see about getting a business loan. I’m guessing I’d have to get about $100,000 to get it all started. Again, just guessing but I guess I need to do a bit more research. I’ve known several people that have started their business from nothing and are doing well, but it’s a lot on top of running one to make a living. I think the toughest part would finding the right location to build out what I needed. I’ll have to find a large enough location to fit two large sweeps. One white and one black, I don’t want to be painting every weekend to shoot what I want. Then to design the studio layout and figure out what equipment I’d work with. Cameras, Lighting, Boxes, Dollies, Computers and all the materials to run that. In the long run, once I get it running I could rent it out to other photographers. The largest investment I think would be advertising. I have to get the word out that the Best Photography Shop in Dallas just opened.
How do you calculate all this and create a business plan. The old adage, Build it and they will come, isn’t the best way to start a business. But there are so many that tell me that is probably what will happen. Once people see that there is a location that they could bring their car to get photographed in a high-end studio, we could start charging whatever we want. But the quality of work will definitely draw in the money and since there are expensive cars everywhere in Dallas I just have to tap on the shoulders of the money makers. And since I’m already connected to some really nice wealthy people, that shouldn’t be hard.
Off to the dreamboard and start producing a list of what I’ll need, how much everything cost and read about businesses and asking for money. One of the other large items that I think would take up a lot of money would be insurance. I’d have to Insure my equipment, locatoin and possible get insurance just in case I’m driving a car or hauling it to my studio. Makes me sick thinking about anything like happeneing but that is the risk of running a business. Planning, Planning, Planning. Stick around and see what comes of my future.
2 Comments
Good luck! Insurance would be a must. What if a light falls on a car? Etc. Have you talked with the SBA about your details yet?
Thank you, sir!! Yes, that is what scares me the most about doing something like this. Someone is going to trust you with their $100,000 car and they better get it back better than they gave it to you. So that will be a large part of the investment.