$10,000

I have seen in several threads that you need at least $10,000 in gear to get started into a wedding photography career. I had 2 questions for you all then:

1. If you had $10,000 and were starting from scratch, what would you get (and you can take "scratch" any way you want it, whether it be no equipment, no computer or software, etc.)

2. If you were to take out a loan (not getting free money) to start out into this career (again, from "scratch") with what you know now, how much would it be and what would you spend it on.

I think it will be very interesting to see what people say here.

EDIT:
To rephrase this a little, because i think I may have worded it a little odd...
You wake up one day and all your photography stuff is gone. Instead, there is a stack of bills, $10k, for you to spend back on it. What would you get? Insurance, office, new computer, software?

You are either already established or are starting this, supplementing it with other income hopefully. What would you spend it on?

Then:

What would be your ideal set up, knowing that at one point you have to pay it back.


I am not looking for advice on how I should do it, but just a hypothetical situation that I would like to see how you would handle.

Here's what I would buy if I were starting out from scratch now.

Two used Canon 5D's. $2000 (I see them for around $1000 all the time now).
Used 580EX - $300
Used 24L - $1200
Used 50 f/1.4 - $300
Used 135L - $900
used 17-40 - $500?

Total: $5000

If I were afraid of primes?

Two used Canon 5D's - $2000
Used 580EX - $300
Used 24-70L - $950
Used 50 f/1.4 - $300
Used 70-200 f/2.8 (non IS) - $1100
used 17-40 - $500?

Total: $5150

If you aren't charging for weddings yet, or you're charging VERY little ($500 and under), so long as you explain you don't have back up gear to the couple, I'd be fine with taking out the 17-40L and one 5D. Making the total $3500-3650 (depending on which one you go for.

Most people have capable laptops these days, so I'm not including that as a cost. If you don't have one, you'd have to get one, of course.

For question 1:
I will use generics instead of specifics as there are many preferences so this thread could go on forever... but... Two cameras, two zooms, two light stands, two umbrellas, five speedlites, buckets of AA batts, AA bat charger, two CF cards, one computer, one srgb color correct LCD, two cases to hold it all and arrive with, and one assistant.

For question 2:
You need at a minimal about $20K to "get started" and $50K to get started and actually live full time as a photographer... or you can take the slow route and get there in three years. As far as what to do don't expect to really get that kind of help in one thread.

Keep in mind as people answer this thread that there are differences of what success is. Is living with your mother okay? You get the idea...

Pcunite, you just aren't right. In fact, you're completely wrong. I was doing quite well when I had just barely $10k worth of gear. Now I have around what you consider the minimum in order to get started. And I'm far from the "getting started" phase.

Bobby

If it were me I would spend about 3k on gear, 3k on advertising and marketing and 3k as a float to get me through the bad months.

1k on misc. expenses until I could identify what those were and set aside a budget for them in future.
I'm not a wedding photographer yet, though I'm planning on entering lifestyle work for around the spring/summer.

That's my plan, so far, though I'm starting with about 6k-7k in gear, including software and computer/printer equipment/business start up fees/insurance (2k gone right away for the year)

I'm projecting from scratch a person may expect spend about 15-20k realistically.
So yeah I would say 10k in gear is realistic. There's a photographer I look closely at (EMG?) who has something like 4k in memory cards alone (jesus!)
That could all change, though, depending on how much I study accomplished people photogs and their business practices.

From scratch I bet I could do it in under 5k on gear, 3k in ads and marketing and 2k as a float.

Try it out, see what works, log your results and find ways to do it better.

bnlearle wrote in post #9549132
Pcunite, you just aren't right. In fact, you're completely wrong. I was doing quite well when I had just barely $10k worth of gear. Now I have around what you consider the minimum in order to get started. And I'm far from the "getting started" phase.
Bobby

In my answer to question two I am referring to the loan... not just the equipment...

pcunite wrote in post #9549444
In my answer to question two I am referring to the loan... not just the equipment...

I don't understand how that makes what I said any different?

Modifying Bobby's $5k recommendation to fit for my $10k preference...

Two used Canon 5D's - $2100
5x used 580EX - $1375
Used 24L I - $950
Used 50 f/1.4 - $300
85L II - $1650
used 16-35L I - $950
used 70-200 f/2.8L IS - $1300
Batteries, memory - $500
3x Light stands - $150
5x Radio triggers - $400
Hot shoe adapters for 580EX - $80

Still under $10k...about $9.8k.

Cool, this is very interesting.

Pcunite, I wasn't looking for what to do, I have a path that I am persuing right now and don't have the room to start from scratch (and I wouldn't want to). I just wanted to see what everyone else would do, the whole hind sight is 20/20 cliche

bnlearle wrote in post #9549453
I don't understand how that makes what I said any different?

Well after spending 10K on equipment (which I recommend vs. your 5K plan) what are you going to live on, advertise with, room for one tiny mistake, etc...? 10K in gear buys you nothing in relation to his question for number two which was how to start a business... a business that he wishes to become his career... no referrals, nobody knows him... thus my suggestion for a risk taker at 20K. I then suggested 50K if you wish to have float money and feed a family, pay bills, work this thing full time. Some businesses (not hobbies turned into business) start with loans much higher than even what I am suggesting.

Red Tie Photography wrote in post #9549687
Cool, this is very interesting.

Pcunite, I wasn't looking for what to do, I have a path that I am persuing right now and don't have the room to start from scratch (and I wouldn't want to). I just wanted to see what everyone else would do, the whole hind sight is 20/20 cliche

Okay... I kinda thought you were just looking for conversation on the subject. It is tough to give advice... I mean there is the hacker way which can work sometimes if you have another form of money coming in etc, and then there is best practice. When I start business the first thing I decided is what I want to make (not gross) yearly. From there I determine the route to take.

Who quits their day job, goes and gets a loan for a ton of equipment they don't have, and starts full time like that?

Realistically, TONS of successful photographers start while working some other job, picking up the bare necessities, shooting for friends/super budget brides, and then picking up more along the way. That's how I did it. That's how many people do it. You just do not need much more than $5k to get started in wedding photography. You don't. You can do it your way (have $50k at your disposal), and that's fine. But that is hardly necessary. I'm disagreeing with you so strongly because you are acting as though it is necessary.

Bobby

The legal aspect of your business should take more than a couple grands from that 10k of yours already. People don't seem to plan that out, gear is not the only cost of doing business.

bnlearle wrote in post #9549834
Who quits their day job, goes and gets a loan for a ton of equipment they don't have, and starts full time like that?

Realistically, TONS of successful photographers start while working some other job, picking up the bare necessities, shooting for friends/super budget brides, and then picking up more along the way. That's how I did it. That's how many people do it. You just do not need much more than $5k to get started in wedding photography. You don't. You can do it your way (have $50k at your disposal), and that's fine. But that is hardly necessary. I'm disagreeing with you so strongly because you are acting as though it is necessary.

Bobby

I second this...because it is exactly what I am doing right now...I know its not the ideal wedding setup but I have one 5D classic, one 30D, one 580exII, and three quality lenses and have made roughly an additional 15K in 2009 strictly in wedding and portrait photography... 15K I am sure is chump change for a lot of full time photographers here... but for me it is a nice bit of supplemental side income that I am not relying on and can afford to sink back into starting the business and buying the additional equipment that I need and this plan has worked out very well for me so far. I can't imagine just dropping my full time job cold turkey, taking out a large loan only hoping that I will be able to start making the income I need to cover the payments on the loan in addition to all of my other existing expenses...that just isn't a realistic scenario to me...and seems completely unnecessary unless you are totally impatient.

I'd take the money and buy a bass boat instead.