Starting a Studio: How did you get started?

So, my Navy contract is up in just about 2 years, I probably won't be able to reenlist due to slimming down of the MC rate, and I think it's time to really give it 100% and build a studio.

That's the short story!

Longer story:
As I'm looking at my next two years in the Navy, I'm realizing that I really don't want to go back to working in tech and having photography be a hobby. I want to do this 100% full time as my only, or at least primary, source of income. I'd love some advice from people who are running their studios.

1. When did you decide to make photography your primary source on income?
   
2. How much is a good buffer for a small business in order to make sure you can stay open?
   
3. Any recommendations for books to read or sites to visit that focus on the business aspect of a small studio?
   
4. What questions should I be asking myself?
   

My only advice is be prepared not to turn a profit for two years and even then be prepared for the fact you may not do so even after that. Studios are going out of business more than staying in business these days.

The lower the cost base you can run your business on the better as you'll be competing against hobbiests and people who don't rely on photography as a primary source of income.

Also do you research as to what the average income is you can be likely to hope for. You'll find for the majority is is very low.

Career change – want to become a photographer and make a living by it.

PhotoShelter: The Ultimate Guide to Starting Your Photography Business

And since you used a descriptive title, the forum has done a mini-search for you. Look at the links at the very bottom left hand corner of this page.

PhotosGuy wrote in post #17258841
Career change – want to become a photographer and make a living by it.

PhotoShelter: The Ultimate Guide to Starting Your Photography Business

And since you used a descriptive title, the forum has done a mini-search for you. Look at the links at the very bottom left hand corner of this page.

Well don't I feel a bit silly. =) Thanks for pointing this out..!

...are you looking for responses from people who only have physical studios? Or from people who have photography businesses?

banquetbear wrote in post #17258939
...are you looking for responses from people who only have physical studios? Or from people who have photography businesses?

I'm hoping for responses from people who make photography their full-time job. While I plan to open an actual, physical studio or use a studio co-op, I know that's by far and away not the only way to do it.

I guess it also depends on what exactly you want to do. Do you want to do portraits? Products shots? Weddings?

You don't need a studio to do portrait shoots, even if you do it commercially for editorials and such. Studios can be a giant money drain when you're just starting out.

1) When I had enough money to be broke for at least 2 years
2) enough money to be broke for 2 years
3) Sal Cincotta wrote a book, Photographer's MBA is a decent read
4) The main question should be this - Can you get by with only 20% of your time spent actually taking pictures.

When I got into this business, I thought it was all Rainbows and Photography. But it's not, it's paperwork, marketing and more paperwork. I love what I do, but it can get frustrating when you have to spend 20% more of your time finding people who will pay the prices yo ask than actually shooting. You also have to know exactly how much you need to make to feel comfortable accepting a job. With everything you have to take into account your time, Gear upkeep and acquisition, Insurance, incorporation fees, taxes, etc.

Then , throw an actual studio on top of that and you have some pretty stiff financial obligations. When I had my physical studio, I would rent it out in order to pay for it's rent and upkeep. That way I wouldn't cut into my shooting profit. But, it got to the point where I got tired of maintaining everything i the studio. Now, I'm a renter and I'm much happier for it.

1. Meet with your accountant first to figure out the best way to invest in equipment, marketing, and office space.
2. Your location and types of photography will have a huge impact on your success. Choose wisely.
3. Do not consider operating a full time studio until you are well established with good cash flow. Start with a home office/meeting place/rental studio as a smart investment. Do not get stuck with the strategy of owning a full time studio too much.
4. Consider many other skills for income such as video, graphic design, marketing, prints, etc.

Good Luck-
Scott