Passionate about photography? Starting a photography business can be both exciting and lucrative. However, the crowded market means careful planning and preparation are essential
Here are some helpful tips for starting your own photography business.
Step 1: Research the photography market
Conduct market research to understand the demand for different types of photography in your area, identify market gaps, set your pricing strategy, and analyze the competition. From here, you can begin defining your offerings and brand identity. Whether it’s weddings, families, landscapes, or pets, focus your brand on a subject that ignites your passion and motivation and helps you stand out from the competition.
Step 2: Build a portfolio of photographs
A strong portfolio is essential; clients won't hire you without seeing your work first. Fill your portfolio with the kind of work that you are skilled at and want to focus on. Use it to display your distinct style to stand out to potential clients.
Post your work online, both on your website and on visual social media sites like Instagram. And keep updating it. New clients will want to follow you and may book you again based on what they see.
Step 3: Have a business plan
Don't underestimate the importance of a business plan, even if you're a solopreneur, especially if you're new to business. Consider it a set of instructions to guide your business. A business plan can help you make key operational decisions, set goals for growth, and identify challenges and how you’ll overcome them.
Your plan can also help you secure funding or potential partners down the road.
Here’s a suggested template for your photography business plan:
- Executive summary: A brief overview of your business and why it will be successful.
- Company description: Provide comprehensive information about your business and highlight your competitive advantages.
- Service and product offerings: List the photography services you will offer.
- Organization and management: Outline how your photography company will be structured and who will run it. For example, will it be a partnership, LLC, or S-Corporation? Who will be responsible for day-to-day management?
- Market analysis: What is the industry outlook? Who are your target customers? What competition are you up against?
- Financing plan: Include a description of your funding requirements, your detailed financial statements, and a financial statement analysis.
- Marketing strategy: What is your overall plan for reaching potential consumers and converting them into customers for your services? How will you communicate your advantages over potential competitors?
Step 4: Choose a business structure for your photography business
Your business structure choice will affect daily operations, taxes, and the liability risk to your personal assets. Choose a structure that balances legal protections and benefits.
The four most common are:
- Sole proprietorship: This is a business owned and run by one person, with no legal distinction between the owner and the business.
- General partnership: A general partnership is the most straightforward variety of partnership. It is created automatically when two or more people engage in a business enterprise for profit. No state filing is required.
- Limited liability company (LLC): This is one of the most popular forms of business entity among photography businesses. An LLC offers limited liability protection (protecting your assets from debts and liabilities associated with your company) and pass-through taxation.
- Corporation: A corporation is a separate legal entity owned by its shareholders, protecting owners from personal liability for corporate debts and obligations.
For more information on business entity structures, read Comparing company types.
Step 5: Understand the legal requirements for a photography business
Depending on your business structure and location, your photography business may face various legal requirements. These include general registration, licensing, and other requirements.
- LLCs and corporations: If you form either of these business entities, you will need to file formation documents with the state. You must also obtain an EIN to form an LLC or corporation. You may need to fulfill other requirements, such as getting a registered agent and filing a Beneficial Ownership Information Report with FinCEN.
- Register with Department of Revenue: Your photography business may need to register with your state’s revenue department.
- Hiring employees: There are various requirements if you plan to hire employees, such as having an EIN and registering with the Department of Labor in your state.
- DBA filing: If you do business under an assumed name, fictitious name, or trade name, you must make a DBA filing with your state or local jurisdiction.
- Business licenses and permits: Most businesses must obtain licenses and registrations regardless of the business entity type. For a photography business, this may involve obtaining a general business license at the local or state level. In some jurisdictions, even if you operate your business from home, you may still need to obtain a home occupation permit. Also check zoning rules and whether your Homeowners Association (HOA) or landlord places any restrictions on running a business from your residence.
For more information, see What are the legal requirements for starting a small business?
Step 6: Open a business bank account and credit card
Corporations and LLCs must legally separate business and personal finances. The best way to do this is by opening a bank account and obtaining a business credit card. These should be used exclusively for business expenses to maintain liability protection in case of legal action against your photography business. A business credit card can also help you build credit and negotiate good terms with vendors and suppliers.
Consider opening a business bank account when your photography business starts incurring expenses or accepting money.
Step 7: Invest in the right equipment
Avoid overspending on expensive equipment when first starting your photography business. Keep your startup expenses low by investing in a good camera and lenses. Your camera should be high resolution with approximately two to three focal length lenses. A tripod and external flash might also be needed. Over time, you’ll appreciate the additional equipment you need so don’t go overboard as you get started.
If you intend to take internal studio or indoor shots, remember that lights and other equipment can be rented, as can studio space.
Other investments include photo editing software, such as Adobe Photoshop and Lightroom, camera memory cards, and external hard drives (to protect against data loss). Ensure you have all your work backed up on your work device, external hard drives, and in the cloud.
Step 8: Have a contract template
A contract is crucial for protecting both you and your clients. Put everything in writing, not just over a handshake. Your contract should outline the scope of work that you will deliver to your clients and should be customized for each project. Be sure to specify the following:
- The type of services performed
- Length of the agreement
- Your fee.
- Cancellation policy
- Copyright ownership of the images
- Model release for each individual you photograph. This form grants permission to use their image in various media and ensures that their rights are protected.
Step 9: Obtain necessary insurance
Insurance safeguards your business against various risks. Many event organizers and other venues also require photographers to carry general liability coverage.
Insurance can protect you and your business should you be sued. For example, if a client injures themselves in your studio. It can also cover property damage that you are deemed responsible for, such as damaging furniture at a client’s home.
If you want to cover your photography equipment, you can purchase a separate equipment insurance policy.
If you have employees, your business will most likely need to obtain unemployment insurance, which is usually available through the state’s Department of Labor.
Step 10: Stay ahead with continuous learning
Continuously invest in training and development. Whether it’s learning new aspects of business ownership, such as marketing, or growing your photography or technology skills, try to keep a pulse on what’s new and innovative.
There are many free courses online and on YouTube. Local classes and workshops are another option for professional development.
Frequently asked questions about starting a photography business
What licenses do you need for a photography business?
States don’t usually require specialty licenses for a photography business. However, your photography business may be subject to general business licensing requirements. These may include:
- Basic business license: This is a license from the city in which your business will operate or from the local county (if the business will be operated outside of the city's legal boundaries). This license may go by different names, and you may need to obtain this license at both the city and county levels in some jurisdictions. For example, a photography business in Orlando, Florida, may need to obtain both a Orlando city business tax receipt and an Orange County
- Home occupation permit: This permit for home-based photography businesses prevents businesses from causing a lot of extra traffic, noise, or other nuisances.
- Zoning permit: Some states require proof of proper zoning for photography businesses.
- Building permit: If you plan on remodeling or building a commercial space, you'll need a building permit.
- Sign permit: Many local governments require a permit for sign displays and installations
- Sales tax license/sellers permit/resellers permit: You need a license or permit to sell almost anything, and the name of this document varies by state.
- Certificate of occupancy: This document outlines the purpose of the structure and its suitable applications and ensures compliance with building codes.
Note: You may also need to obtain a state and local permit to photograph, film, or video on public property.
What are the steps for getting an LLC for a photography business?
Although exact requirements can vary from state to state, there are four basic steps for forming an LLC:
- Choose a name for your LLC
- Choose a registered agent
- Prepare an LLC operating agreement
- File LLC formation documents with your state
There are also a number of post-formation steps, such as obtaining an EIN and filing a beneficial ownership information report. Some states also require a notice to be published in a newspaper that an LLC has been formed.
For more information, see How to form an LLC.
