Does anyone work in a partnership?

[EmmyLou]

A friend and I are considering going into photography together. We both love taking pictures together and feel comfortable covering events knowing that there's two of us there to help ensure we capture those special moments. We're looking into doing a little bit of everything... from weddings to other family or business events.
Just wanted to get your opinion on a few things...

Have any of you photographers ever formed a partnership? If so, what are your thoughts on it? Pros and Cons?

My friend would like to, eventually, do this full time. I'm a writer, though, and as much as I love photography, I consider myself a writer first and foremost. Therfore, for me, photography isn't work as much as it is enjoyment. With that said... It was suggested to me that we make our "business" actually two seperate businesses that work together. That way, we each can have control over the amount of business we take in. If she finds a client, I will take pictures alongside her and then give her my images for her to edit and do whatever she wants to them. If I find a client, we'd do the reverse.

I'm looking at this as a side job.. I don't want to have to rely on this as my income. Does anyone have any advice how to make this work when your partner wants to make it full time for her? I don't want to be her "employee."



Any thoughts and advice would be appreciated. I'm sure I'll have some more questions along the way.


Thanks in advance! :)

[S.Horton]

I used to own one, though not in photography.

When I read your post, I think you and your friend should work informally together, just refer business, no fees, let it pass.

Why?

A partnership is somewhat like a marriage. Hard to undo, people change, people change their minds, and money is an issue. By way of example, you take a break, your partner lands five new shoots, does the work, how much money does she owe you? If you held 50% of the partnership, then 50%. When I read your post, I think a partnership might ruin your friendship and get in the way of your writing.

[EmmyLou]

I used to own one, though not in photography.

When I read your post, I think you and your friend should work informally together, just refer business, no fees, let it pass.

Why?

A partnership is somewhat like a marriage. Hard to undo, people change, people change their minds, and money is an issue. By way of example, you take a break, your partner lands five new shoots, does the work, how much money does she owe you? If you held 50% of the partnership, then 50%. When I read your post, I think a partnership might ruin your friendship and get in the way of your writing.

All EXCELLENT points. I really appreciate your thoughts. I like the idea of working informally.

[figmented]

ya he kinda said it pretty perfectly.

[EmmyLou]

Thanks, guys, I really appreciate your advice.

Any more thoughts would also be appreciated. :)

[airfrogusmc]

My experience is usually its not a good idea to go into business with a friend if you really value that friendship. Money and friends rarely mix well.

[EmmyLou]

Thank you!!!

Well, I just talked to my friend and she liked the idea of us working as separate businesses, but still working together. (i.e., an informal partnership) I'm excited!!! Now to set up a web page and all that jazz... I'm trying to come up with a name now too! Maybe EmmyLou Photography? I'm not sure.

[adam LC]

If you work as seperate businesses; but also a partnership... who gets paid?;)

[EmmyLou]

If you work as seperate businesses; but also a partnership... who gets paid?;)

That's on our "to do" list of questions to answer.

[ShirleyShutter]

I work in a partnership with a photographer named taylor.

Pros-
It may make it easier to have good shots.
May cut the time of post processing
You may have some fun if they're your friend...?
More effort advertising.

Cons-
You Split the money
You have to run your business ideas with the other not like your own where you decide
If the other person hurts the business [aka I dunno, curses out the client for no reason] You're both screwed.

Share the wealth, Share the pain.

[BlackJagger]

Ok so a partnership can be a good idea, for all the pros mentioned above. But something to watch out for is informal partnerships, or the legal idea that if you are splitting costs in some fashion and both running a business, you are still in a partnership and unlimited liability applies such as in a normal partnership arrangement. The way I always use to explain this is if two taxi drivers buy a taxi and one works only nights and the other days, and they split the cost of repairs and the taxi, it doesn't matter if they aren't partners or haven't signed a partnership agreement or even share profits. Legally both have unlimited liability for the other ones business. Now I could be slightly wrong about this, I am an accountant in Canada and am not an expert in U.S. tax or entity law. Just something to watch out for.

Cheers
Josh