A photography studio can be exciting and profitable. It can also have major pitfalls that you should be aware of.
How to Start a Photo Studio
Opening a photography studio is an exciting opportunity! This video will tell you if you should start your photography studio. What is good about having your photo studio? What is bad about having it? And what’s the ugly part of having your photography studio for rent? It’s exciting to open a studio but you should have a proper understanding of the reality of opening a studio.
I’m going to use my own experience of owning a studio (5 Points Studio, Los Angeles) and the lessons that I learned from it. Should you open your studio? This video and blog will help you a lot.
The Good Part of Opening a Photography Studio
There are many good things about having your photography studio. Here are a few below to give you an idea. The video contains more information to help you on the voyage of starting a photography studio:
- It builds your name around the community. “Oh that’s your studio?” is a common phrase, and the more people you meet, the better your photo business does.
- You have space to photograph whatever you want! You don’t need to book another photo studio ever again. You can shoot at 4 am or 4 pm!
- You can generate an income that’s on top of your photography business income.
Your Photo Studio? Avoid It Because:
This video will provide so much more insight into owning a photography studio. Here are a few things that got in the way of my business.
- You’re responsible for everything. Every person that walks into your studio could (and I hope not) be their lawsuit. You’ll need to get insured with a great agent and be an LLC for the most protection. That’s not legal advice. Please speak with your lawyer about your exact business.
- What if someone falls in your photography studio? Will you have the proper coverage? What if they fall on purpose to cash a check from you? People will do things for a quick buck, and I would like to see you protected.
- You’re not like this, but other people can be sketchy. Will they protect each model? Will they behave professionally? What can you do to make sure everyone is safe on your property? Can you trust others who come in and rent your space?
The Very Ugly Part of Own a Photography Studio
Your photography studio could be a trap for some awful situations. You run a clean operation and treat everyone with respect. You pay business taxes and treat everyone with respect, but then, you get a rude wake-up call.