Guys i need your insights on how much capital do i need to go in the business photography. I plan to put one up before i reach my 3rd year and this is a requirement in my school since i am taking up entrepreneurial management.

Another thing is i need to earn 20k net every month. I plan on taking on the field of events, portrait, and outdoor photography. Any advices you guys could give me.

Hmm, that's a wee bit too generic dude... Capital cost depends on how much equipment, space, skill you already have, for a start.

Your earnings will depend on your photographic, advertising/marketing, and accounting skills as well...

Business in photography is handled the same way as any entrepreneurial venture.

this is based on experience, but 20k a month, net is kinda difficult to attain, especially if you are rushing. You need to build your name, market, get loyal customers, and set a competitive price. Also, you'd have to compete with the more experienced photographers who have better gear, more connections and are more known. The market for photographers is kinda congested. It's fun, if you get a sideline once every often (like me) but I don't think it would be wise to invest a lot of money if you want to get it back really quickly. And I don't think you can expect to earn 20k a month, not unless you spend all your time doing it. But as you said, you are a student too...

Weddings do pay a lot, but it's more tedious, and requires more gear. It would be difficult (but possible) to cover a wedding without a good lighting set, and creative concepts.

Photography is expensive, and it's not something that you can rush into, when what you have in mind is earning money. You have to love it, so you'd be good at it, and when you get good, and others think so too, then that's the time you can charge for your services. This is just me though. :)

20k/mo for how long? One deal can get you 20k net, but sustaining 20k monthly for 6-12-24 months is a totally different ballgame.

20k/mo for how long? One deal can get you 20k net, but sustaining 20k monthly for 6-12-24 months is a totally different ballgame.

if i remember correctly its for 6 months. its just a requirement for me to graduate.

Hi Andy,

In Business, you don't have to buy everything. Some of the equipment like studio lights can be rented. You can shoot with a basic digital SLR with kit lens and a flash. An investment of around Php 60 to 75k would be enough but you need to shoot not only on weekends but also on weekdays. Aside from corporate events, you can start shooting kiddie parties and baptisms. The problem with corporate events is that they would ask for a portfolio so you need to build that up first. You can cut down the budget I mentioned earlier by 50% but you will end up with a different target market since covering events and corporate functions would require you a better equipment at hand to deliver the service and output demanded by the client. Have you done your feasibility study and marketing research? First things first, you should get into business with something that you like doing. Good luck.

Hi Andy,

In Business, you don't have to buy everything. Some of the equipment like studio lights can be rented. You can shoot with a basic digital SLR with kit lens and a flash. An investment of around Php 60 to 75k would be enough but you need to shoot not only on weekends but also on weekdays. Aside from corporate events, you can start shooting kiddie parties and baptisms. The problem with corporate events is that they would ask for a portfolio so you need to build that up first. You can cut down the budget I mentioned earlier by 50% but you will end up with a different target market since covering events and corporate functions would require you a better equipment at hand to deliver the service and output demanded by the client. Have you done your feasibility study and marketing research? First things first, you should get into business with something that you like doing. Good luck.

Thanks for the tips sir eric! Im still doing a feasibility study and researching my market. Hopefully i could start operating before i start my 3rd yr.

Hi Andy,

You're welcome. When exactly are you planning to start the business? There are seminars that you can attend regarding the business side of photography. You can also get advise from Ms. Harvey Chua. She is the woman behind the success of Ad Photo. If you have the capital, you can start shooting by December which is the start of the peak season for events, weddings and corporate functions. I hope you can also attend the 5th WPPP Photo Congress next year. Your business doesn't have to end after six (6) months, if you love what you are doing, it can be your Career for life. There will be some challenges and difficulties you will encounter along the way but what is important is your willingness to succeed.

andy,
first of all, let us all be realistic. what do you know now about photography? what is your level of expertise? is the photography business a specified/assigned school requirement or did you just pull this out of a hat? if it is a requirement and you need to just be at it for six months then go ahead- plunk your money down. but if you want to pursue a photography business just for the heck of it- THINK. as david said, this business is more complicated than just your original question of how much capital you need to start. IF you are going in blind with your money and thinking everything will be peachy even on a longer term, i say with all due respect that you stand a better chance taking your money to the casino.

andy,
first of all, let us all be realistic. what do you know now about photography? what is your level of expertise? is the photography business a specified/assigned school requirement or did you just pull this out of a hat? if it is a requirement and you need to just be at it for six months then go ahead- plunk your money down. but if you want to pursue a photography business just for the heck of it- THINK. as david said, this business is more complicated than just your original question of how much capital you need to start. IF you are going in blind with your money and thinking everything will be peachy even on a longer term, i say with all due respect that you stand a better chance taking your money to the casino.


amen to this!

by the way can you show us your portfolio? :)

I missed these yellow lines. THINK

Andy,

I have a studio. I am a photographer. Give me 20k per month starting next month until your enrollment by June.. and I will give you a report that will make you my partner, and a reflection on the books of a net income of more than 20k per month. You will have access to me and you will get answers to your questions. I will teach you the business of photography but i will not let you manage the business.

After the sixth month, we will be best friends but we will call it quits. You get your diploma, and I have a new Foba Asaba which Master Basil will buy for me from the States courtesy of your 20k monthly payment.

This is as real as you can get.

Nothing ventured. Nothing gained.

Don't you just love free enterprise? Who says opportunities can not be found on a recession?

I missed these yellow lines. THINK

Andy,

I have a studio. I am a photographer. Give me 20k per month starting next month until your enrollment by June.. and I will give you a report that will make you my partner, and a reflection on the books of a net income of more than 20k per month. You will have access to me and you will get answers to your questions. I will teach you the business of photography but i will not let you manage the business.

After the sixth month, we will be best friends but we will call it quits. You get your diploma, and I have a new Foba Asaba which Master Basil will buy for me from the States courtesy of your 20k monthly payment.

This is as real as you can get.

Nothing ventured. Nothing gained.

Don't you just love free enterprise? Who says opportunities can not be found on a recession?

hehehehe!!! but the last asaba we bought was $4,500 so translated into pesos, andy would have to endure you for much much longer than 6 months! but here's a deal and a half. i can ship you another model, a generic model bought from DENNY"S - made in thailand absolutely free of charge! it's got the works- tray, a tilt and revolve head etc. it's so massive i call my photographer captain hiro because whenever he's behind the camera, he looks exactly like a japanese submarine captain peering through his periscope. yes! absolutely free if you're willing to shoulder the shipping and the forklift rental to fish it out of my studio:D:D:D

Hahaha, I knew it, the shipping would be a challenge in the pocket, methinks thats where Andy's monthly tuition will go to.

But the surprise isnt the shipping, neither is the forklift. But that damn tripod in your studio????? Bejesus! Why do you have everything?... I dont mind if its from Thailand, i just need to feel a captain as well. hahahaha.

If you are an official photographer of a certain school, most of the events, Foundation day, Graduation, Class Pictures, etc. It is possible.

i keep reading about submitting your work to stock photo agencies. has anyone tried it?

Erwin: Do a search here on "micro stock photography" we have a very good thread about it. The standards are pretty high in terms of details and guidelines on most major stock agencies, though.

Thanks David. Will do.

If you will, buy the October issue of Candy (magazine). Deviant legend Tricia Gosingtian has some tips there on starting photography as a means of earning. She's still in college.

In reality, this takes time. It isn't a franchise business where you'll just invest 65-100k worth of gear and expect 20k monthly afterwards.

Work on these:

1. Gear. The right cam and the right lenses for the type of business.
2. Portfolio. You can't sell if you don't have this. Upload on Deviantart, Flickr, wherever, get people to view your works, critique them and fave them.
3. Get a trustworthy crew. Even wedding photographers like me work with stylists, makeup artists, art directors, light assistants, roadies etc. It's NOT a one man job.

.... and after paying the 3rd item that Lei mentioned, the 20K isn't that easy to cover anymore.

http://books.google.com/books?id=qjormTtEH5QC&printsec=frontcover&dq=photography&lr=

Check out this book, then buy one if it makes sense...

http://books.google.com/books?id=qjormTtEH5QC&printsec=frontcover&dq=photography&lr=

Check out this book, then buy one if it makes sense...

I have this book and a few other books on the business of photography. If anyone is interested to browse through it (and the other books that I have) before buying your own copy, please give me a call.
:)

Thnaks for the tips guys!

Sir Mario: as much as i want to have a business partner in this it is a requirement for me or the students to run their own businesses. Im still on the area of studying the different markets of photography.