He is a photographer in a market that is undergoing a complete transformation. The technological advances of recent years have contributed to the democratization of photography. Indeed, increasingly sophisticated digital equipment development has led to new demands. Likewise, the appearance of new media and influencers has contributed to the evolution of the photography sector.
Photography is a popular hobby for many people—more than half a million photographers globally, with over 37,000 working in France. A photographer earns around 30,000 euros per year on average. Overall, the market is about 12 billion euros in turnover. France holds a 15% share of the world photography market. Finally, you should know that more than half (62%) of professional photographers started the profession before the age of 30.
The auto-entrepreneur status has allowed many people to start as photographers. The number of photographers working under the quality of auto-entrepreneur has indeed increased considerably in recent years. You should know that today, one in two photographers works as self-employed people.
Are you passionate about photography, and do you want to start as a photographer (in an agency or freelancer)? It all starts with writing a solid business plan. This work will allow you to ensure the sustainability of your activity and solidify your strategy and even obtain a loan from a bank. How to succeed? We'll tell you everything.
SPECIFY YOUR PHOTOGRAPHY PROJECT IN YOUR BUSINESS PLAN
The dominance of social media networks is expanding. There is an increasingly strong link between the success of photos and social networks. More than 50% of users publish content and, in particular, pictures on various platforms, and more than 70% share it regularly. Landscape, animal, and nature photos are the most liked and shared. Family and group of friend images come second, and selfies are third. Any photographer who wishes to enter the professional sector must be aware of these trends and integrate them into their offer to gain visibility on social networks (and therefore, indirectly, increase their turnover).
Offer services in event photography. Wedding, birth, baptism: most people want to immortalize the most significant events of their life by taking photos. The demands tend to increase with the revolution of social networks. Indeed, Internet users increasingly want to share the highlights of their lives with their loved ones through social networks. Corporate
Photography is the most profitable. Despite the emergence of new market segments, corporate communication still occupies a golden place in the photography sector. Portraits of managers, conferences, team building photography, and annual activity reports: these services are part of the demands that have grown strongly in recent years. A market segment in which to develop?
Publish a portfolio online. As a photographer works above all on the visual identity, it is important to show that yours is irreproachable. Indeed, customers and bankers will want to consult your latest achievements to appreciate your work. This is why it is essential to have an online portfolio. You can create a site where you will publish your best photos or opt for a personalized portfolio in your image. In any case, it is essential to highlight your photos in your business plan to convince investors. For more info about the business plan Visit https://www.mbplans.com/photography-business-plan/
PROVE THAT YOUR PHOTOGRAPHY PROJECT WILL ALLOW YOU TO LIVE COMFORTABLY
List the initiatives you will put in place to acquire customers. For example, visual identity occupies a prominent place in photography. Therefore, it is essential to benefit from excellent visibility during all the participating events. In addition, networking is also a key factor in being known. Thus, the communication and marketing budget should be important in your projected income statement (at least 10% of turnover).
Determine pricing that will allow you to be profitable. To prove that your project is viable, you will need to present a break-even analysis in your photographer's business plan. This will depend in particular on the price of your services, which you will have to set in your financial forecast. As with every service delivery business plan, observe the fees charged by the competition and estimate the cost price of a service. To set a fair price, you must consider all your current expenses. Adopt a conservative approach and estimate your various payments on the rise.
Stand out by offering selfie terminals. More and more wedding photographers and event agencies are diversifying their services by using connected automatic shooting devices. Indeed, the craze for social photography has multiplied the requests for the rental and sale of selfie boxes over the past two years. You can include this kind of start-up investment in your forward financing plan.
Your cash balance should show that you can easily pay yourself a salary. Therefore, you must include your salary in the disbursements in your projected cash budget. You must also ensure that the turnover generated (and any other receipts) allow you to maintain a positive cash balance throughout the next few years (generally, financial forecasts are widely available over three years ).
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