If you have a talent and a passion for photography, it’s possible to turn this into a business. It’s not as complicated as you may think it is, but there are specific steps to take to do it properly.
This guide illustrates the steps you need to take to get your photography business off the ground.
You don’t need to have any educational qualifications, permits or licenses to start a photography business. The proof of your expertise is in the pudding.
If you have a talent for taking great photos and an inkling about how to market them, you’re ready to go. Of course, you may choose to take a photography course in order to learn your trade.
To be successful as a professional photographer, you will need to invest in top-of-the-range camera equipment and lighting.
Your business type determines how much tax you’ll pay on the money you make and how personally liable you’ll be for business debts.
Here are your main options.
Setting up a business bank account is easy — and usually a required first-step for many small businesses. Depending on the bank and business account you require, you can either apply online, in person or over the phone. The process is similar to opening up a regular chequing or savings account, but may require a bit more paperwork — such as business licence or insurance documentation. Compare online business bank accounts below.
Unless you plan to apply for financing, you don’t need to create a business plan for your photography business. But doing so could still be helpful. Laying out your plan clearly will allow you to spot potential obstacles to your success or reasons why you might want to reconsider starting a business or explore other options.
A great photography business plan should include:
Things change quickly in the world of business, so it’s recommended to review and amend your business plan at least once every quarter.
This is likely to involve purchasing a lot of top-of-the-range photography equipment. Depending on what type of photography you’re specializing in, you may need to build or rent a studio too. You’ll need to add up these costs and figure out the best way to finance this.
It’s also essential for photographers to have a strong online presence. That means investing in a professional website and social media accounts – especially more visually-oriented platforms such as Instagram.
All of your offline and online spaces should be kitted out with your company’s personal branding. A professional image is particularly important in this field since your product is so visual, so don’t cheap out when hiring a graphic designer for your branding.
Related: Best business loans in Canada
Although not all insurers offer the same options, you may find the following types of coverage helpful for your photography business:
There are some insurance companies out there offering photographers insurance, which will cover you in most or all of these potential scenarios.
On average, professional photographers charge around $100-$250 per hour. The newer you are, the lower your rate might have to be to attract a client base and begin to develop a business reputation.
You can charge a “day rate” or “creative fee” for a day’s worth of services (which could be good for big events like weddings). Just remember to factor in the cost of all the time before and after the day you’re shooting to make sure you’re adequately covering your costs.
Extras like loading photos onto a CD or flash drive, printing hard copies and travelling to your client’s location should be charged separately. This allows customers to customize the type of package they want.
If you’re regarded as one of the best photographers in your niche, you can charge through the nose and probably still attract customers. If you haven’t built that sort of reputation yet, it may be necessary to lower your prices in order to stand out from your competitors. Take a look at what your competitors charge on job sites like Kijiji and Upwork, then price your services appropriately.
The best way to market your photography business is to get your photos in front of as many potential customers as possible (while making it clear who was responsible for them).
Here are some ideas for doing that.
Your guide to the account plans, included transactions and monthly fees of the Scotiabank Select Account for Business.
Your guide to the transactions, fees, limits, and pros and cons of the Scotiabank Scotia Professional Plan Plus Account.
Here’s our methodology for scoring the features that matter, and picking the top business bank accounts in Canada.
Learn more about RBC business banking services and how to find the right account for your business.
Learn about the rates, fees and eligibility criteria of the Tangerine Business Savings Account.
Your guide to the best multi-currency card in Canada and the pros and cons of using a multi-currency account.
Compare free business bank accounts in Canada and learn how to select the right account for your business needs.
The five steps to opening a business account to manage your business finances.
A detailed review of the features, fees and eligibility criteria of the Vault business bank account.
Explore our top picks for the best business bank accounts in Canada.