Posted on August 27, 2013 by Phillis Brooks
Photographer, Kirk Voclain’s thoughts on being
a professional photographer, the business side
of photography, and smart vendor partnering.
Professional Photographer or Hobbyist?
As far as my beliefs, well…to me…it is super important to turn a profit in this great business of ours! If you are not turning a profit then photography is not a business, it’s a hobby. It’s ok to have photography as your hobby…in fact, it’s a great hobby, but if you are looking to be a PRO, you need to make money.
The Business Side of Photography
The best way to calculate your profit is not to simply mark up your cost on a few things…but KNOW exactly what it costs for you to do business. Calculate everything! Rent, cost of goods, insurance, education, and equipment - break it all down. Be sure to include phone, repairs, time, salary, etc….figure out what it costs you to just open your doors. Understand your expenses so well that you know to the HOUR how much it costs you to be in business.
Once you’ve added up all your costs and figured out the hours you work per day, you can divide up the cost and your hours to find our your hourly cost to be in business. At that point you’ll know what it takes just to break even. Your expenses are $25 per hour, you work 5 hours per day, you’ll need to make no less than $125 per day to break even! These numbers aren’t real, but I think you get my point.
Partnering with companies like “Phaloo” who support you and help you get your products into the hands of your customers is a win-win. KNOW your business inside and out, reduce your debt, work smart and work with a purpose. Yes, you can be successful in this awesome profession we know as “Professional Photography”!
Kirk will be speaking LIVE on creativeLIVE, Tue-Thurs, August 27-29, 2013. Join him for FREE here: http://www.creativelive.com/courses/senior-photography-kirk-voclain
Kirk will also be a platform speaker at PPA Imaging in Phoenix, AZ. For more information visit: http://imagingusa.org/schedule/#2744