Photography is a creative passion that many people share and enjoy, but what if you want to develop your talent into a money making business? Establishing an enterprise and working from home is an alluring idea for many, but there are a number of things to consider in order to get ahead in a rather competitive field.
The great thing about running a photography business over the internet and from the comfort of your own home means that you have the chance to specialise in one particular area such as weddings, fashion, portraits or a variety of different events. Regardless of what you choose, being a photographer and an entrepreneur will offer variety and the chance to enjoy new experiences.
If you know that you have all the skills necessary to become a successful professional photographer, the next step is actually setting up your business. Below are some of the steps you should take when starting a home based photography business:
The first step should be the establishment of a business plan, which will serve as a guide for developing the foundations of your business and will help you to identify any goals you have in mind for your business. It will also help you to manage and evaluate your financial needs.
Secondly, you need to set up a business bank account, as it is important to keep your business finances completely separate from your personal accounts. Also, set up an online bank account, from where you will be able to check your funds and even transfer money across different accounts in minutes.
The third step in setting up a home based photography business is equipment, but this all depends on your business’s budget, which you should have compiled in your business plan.
Other things you need to factor in include the amount of space you have to store resources and the specific sectors of photography that you are specialising in.
If you are only planning to operate your photography business part time, then it may be well worth researching what options are available when it comes to hiring equipment instead. That way, you can obtain the specific technology you need as required, avoiding the prospect of a cluttered home.
Not only this, but you will need to identify what office equipment you need to run a business at home over the internet. Make a list of everything that you already have and what you need to procure. Any purchases you do make will be tax-deductible, and so you can list all of your investments as business expenses.
If you are serious about starting up your own photography business, then researching some kind of insurance policy should be high up on your list of priorities. You will greatly benefit from this in the long run, particularly if clients will be visiting your home as public liability insurance will protect you from claims if they trip over a camera cable, for example, and suffer an injury.
Finally, considering accreditation with a professional photography organisation is a worthwhile idea. Not only is this a great way to network, but it will also be a great opportunity to find potential clients or maybe a financer for your business.