How to Start Photography business

Overview

Let’s face it, more than being excited for the event aren’t we all just waiting to get through it and spam that photographer to send us that blemish-free-professionally-clicked pictures he’d clicked just so you could post it one Facebook and boast about it?

Yes, there’s no denying that. To imagine hiring someone just to get our pictures clicked, a task our phones are designed to do, could now become a trendy-millennial startup is just as mind blowing as this busines is

Photography was started as a hobby, developed into an art and now is an art people can buy with designated sub-categories in it. Every picture you click or get clicked today is either selling something or marketing something.

From a cupcake selling one’s business to your pictures selling the photographer’s business.

India has innumerable events taking place every day. More or less with your photography business atleast one birthday and one big fat Indian weddings of the 10 million that take place every year could be one of your routine projects.

So, we’d recommended you to take a snapshot of this business before you kiss this photography business opportunity

Market potential and uses

A photography business involves the business of clicking pictures through professional techniques using a camera, lens, gear etc for an event, product, people, architecture etc for the purposes not specified by the client.

The market potential for a photography business has become vast since the past decade and here’s why

• Increased need among the businesses to increase the mass impact of their business through attract pictures displayed on their website
• Increased need of recognition among consumers on social media platforms
• Increased need of justifying one’s social standing and status through a display of their events through photos, videos and pictures on social media
• Growing need to affiliate with the foreign culture and traditions through pictures and photos on Instagram, Facebook etc
• Increased disposable income of consumers

The market potential for this photography business can be further elaborated and defined on the following basis

On the basis of types of photography

• Portrait
• Product
• Lifestyle
• Food
• Event
• Training and workshop
• Architectural

On the basis of niches of types of photography

• Weddings
• Concerts
• Business meetings
• Company parties
• Auto shows and trade shows
• Pets
• Food of restaurants, cafés, dessert shops
• Buildings
• Infrastructure
• Models

Licenses required

The license required to set up a photography business are

• GST registration
• Certified degree in photography
• Trade mark registration
  

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Investment required

The investment required to set up a photography business could vary anywhere between ₹50000-₹10lakhs  depending on

• The types of event
• The budget of an event
• The crowd and client’s social standing
• The reputation of your photography business

Profits made

The profits made from the photography business is ₹2lakhs-₹4lakhs

Target consumers

The target consumers for this business are as follows

Businesses: The businesses require the services of your photography business for the purpose of marketing their products, their office infrastructure, the client-employee relationship on social media, brochures etc

Events: Events like weddings, birthdays require the service of your photography business to get an individual’s, couple’s, family’s photo clicked throughout the event to store it as a memory or even post it on social media

Entertainment events: These events like concerts, auto shows, stand ups, award shows etc require photography service to have a mass impact of the event on the targeted consumers

Sport industry: They require the services of photography to get snap shots, Portrait pictures of the players, the sports etc to provide coverage of the sport events to the audience

Fashion industry: Models, actors, singers etc require the service of this business to make up their portfolios, set up an album cover, keep their social media pages updated

Advertising agencies: They require the services of  your business to get the product or the brand ambassadors pictures clicked for the purpose of posting its as a promotional content  on the respective company’s pages

Restaurants and cafés: They require the services of your photography business for the purpose of getting the pictures of the food products like meals, desserts, beverages, ambience etc clicked to provide an appeal to the customers when visiting their page online

Hotels and restaurants The hotels require the services of photography for the purpose of displaying their infrastructure, their site, their staff and guest relationships, services etc on their website to attract the targeted consumers

Area required

The area required to set this business up is 100-200 sq fr

Raw materials required

The raw materials required to set this photography business is

• Camera
• Lenses
• Flash lights
• Memory cards
• External drives
• Computers/laptops
• Lightroom and photoshop subscription
• Software
• Business cards

Manpower required

The manpower required to startup this photography business is 3-5 people. One could either

• Hire a team
• Hire freelancers

Business model and growth

The business model of this photography business can be defined using these four variants

Value proposition: The value which this business is likely to provide to you is

• Minimal investment
• Large target consumer niche availability
• High profit margins
• Easy to establish a global presence

Target consumers: The target consumers for this business is

• Fashion bloggers
• Business organizations
• Weddings, concerts, birthdays
• Models, actors
• Restaurants and cafés
• Hotels and resorts
• Pets and entertainment events

Competitor review: The competition which this business is likely to get to you is

• Fearless photographers
• Canvera photographers
• Candid shutters
• Pranesh photography

Marketing strategy: The marketing strategy that can be implemented by your business is

• Print media: in blogs and articles
• Social media: Instagram, Facebook handles
• Tie ups with huge and reputed events
• Google listings
• Word of mouth promotion

Growth

This photography business has the potential and has witnessed the following growth prospects

• The Indian photography industry is expected to grown by 15%-20% by FY 2023
• The social event industry is expected to grow 25% annually
• An increase in disposable income of the consumers is also causing an increase in consumer’s spending on businesses like event managers, wedding planners, photographers etc

Profit margin

The profit margin which this business is likely to yield to you is 25%

Suggestions

The only thing you should be worrying about is the best picture of yours  you must select among the 100s, not this business opportunity because here are the few facts we’ve got covered for you

• Firstly, the investment involved in this business in terms of capital, manpower etc is very minimal and yields high profit margins
• Secondly, this business gives you large target customer base so selecting a niche is easy
• Lastly, this business also gives you an opportunity to capture the global market through big tie ups with companies, events etc