The profitability of a running a photo studio business cannot be overstretched. Owning a photo studio automatically makes you a boss of yourself.
Employing people to work in your studio makes you a job creator in the society. Photography services are demanded almost hourly by almost everyone.
Thus, the possibility of making daily income from it is there. The business of Photographing, though a bit stressful, is without mincing words, a money spinner.
Being a profitable but less stressful business, a photo studio business is one business that puts to test your creativity and love for art. Your creativity and passion for art come to play in terms of choosing the right color of clothes to fit your client.
Also, is choosing the right background to match with the colors. Thirdly, is the capacity to blend the background and context well with the prevailing situation.
So today I will be giving you detailed, steps in starting a profitable photography business in Nigeria, without further ado let’s begin.
1. Learn The Skills First
You cannot just begin practicing photography business or photo studio business when you next-to-nothing about the business. So, getting the required skills comes first.
This you can do by enrolling for at least six (6) months apprenticeship with a good photo studio in town. To understand the business fully, I suggest you stay there up to two (2) years and learn the nitty-gritty of the business.
Alternatively, you can enroll in a photography school where you can equally learn this business. At the end of your programme (whether under apprenticeship or from a photography school), obtain a good certificate.
This will attest to your proficiency in the photography business and photo studio management generally.
2. Setup A Startup Capital
N500, 000 will get you started. A good SLR Camera (N300, 000 +) and laptop with a high RAM (N200, 000) is all you need for a start. The idea is that you take photographs in occasions, edit them on your laptop and process at a digital lab operator. Do not be discouraged if you don’t have enough funds to set up a studio yet. Through hard work and diligence, you will get there in no time.
3. Choose A Digital Photography Niche.
Find your photography niche, and conquer it. Photographers face a lot of competition every day, one of the best business decisions you can make is to specialize in a particular type of photography.
There are many types of digital photography niches in which you can choose to specialize but choosing a specialization, such as wedding photography, event photography, etc. is the best way of distinguishing yourself from other professional photographers.
4. Buy the right photography equipment’s.
Your device is an important, long-time investment in your new photography business. For starters, you’ll need to get the satisfactory gadget in the marketplace you could afford.
Because you are in a digital photography business, you may also want a pc and software program to edit your pics. Here is a listing of endorsed equipment for a start: Prime Lens, Digital Camera, Camera Tripod, External Flash, Camera Bag, SD Memory Cards, Extra Batteries and Cleaning kits.
5. Choose a Suitable Business Location
In every business, your location matters a lot. Where you locate your business can attract more customers, or make you lose customers.
In photo studio business, your location should be easily accessible, perhaps along a major road in town or walkway. It must not be hidden from passersby.
Remember, it is a business for everybody and not for few people. Do not be a sit-tight photo studio businessman or businesswoman. Go out there and scout for jobs at events also. You could direct your clients to your photo studio thereafter.
6. Craft A Stunning Photography Portfolio.
A professional photography portfolio is something that every photographer should invest in. It’s a great way to showcase your work and create interest in your art or business. A beautiful and complete photography portfolio is your #1 asset as a photographer of the 21st century.
Today, you can create an online photography website that can be accessed by clients on their tablets, smartphone or laptop instead of using a photo book.
7. Create A Business Strategy Plan.
Creating a business plan is as simple as searching “Business plan for photography business” on Google. Download a business plan templates that work for you and fill it up with your own business information.
It is very important to have a workable plan for how you are going to be successful. This plan with change over time as you become more experienced and learn more about what is possible and what isn’t.
8. Register Your Business With CAC.
In Nigeria, every business is a legal entity that needs to be registered as a Business Name (BN) or a Private Limited Company (LTD). The government institution responsible for the registration of new businesses in Nigeria is the Corporate Affairs Commission (CAC).
Even if you are running a business from your home, you still have to register the business. Having your business registered also afford you the ability to do certain things such as opening a bank account for your business, filing tax returns and much more.
9. Develop A Digital Advertising Plan.
As well as being a professional photographer you’ll want to analyze all about digital advertising and social media control to sell your services. If you discover it hard to do it all yourself, then making an investment in a month-to-month contract with a digital advertising and marketing business will truly be well worth it.
The key to achievement in a photography business is advertising. Use your non-public and expert networks to spread the phrase about your business. Attend wedding ceremony parties and occasions geared in the direction of your marketplace.
10. Dress to Impress
If you want people to take you seriously then you should take your appearance seriously. Gone are the days photographers look like they were chased by a pack of dogs. You are a part of the fashion industry friend, look your part!
11. Build And Grow Your Client Relationships.
The one aspect you can’t underestimate is building lasting client relationships. Finding the first few clients to hire and pay you for photography assignments is always a challenge.
As you get more and more clients contacting your photography business, there’ll be a considerable amount to keep track off. More than you can do in your head implement a system to keep all your clients sorted out.
Conclusion
Creating a long-lasting Photo studio business cannot fully be encapsulated in a short article such as this. Expand your scope. Read more articles. Ask questions from people who have been in this business. Inquire about their ups and downs and apply their expert wisdom. I bet you, in less than no time with patience and consistency, you will reach the apex of this business.
About the Writer:
My name is Kenneth Horsfall and I’m the creative director and founder of K.S. Kennysoft Studios Production Ltd fondly called Kennysoft STUDIOs. Kennysoft STUDIOs is a Nigerian Video and Animation Production Studio. And also, the founder and lead instructor at Kennysoft Film Academy. I can be reached via director@kennysoftstudio.com
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