So You Want to Enter the Photography Business?

Posted: March 5, 2010 in Business, Money, Productivity
Tags: , ,

The photographic industry is one of the most challenging, difficult, and competitive for start up businesses. The statistics prove it. Take this 3 year study discovered by Dane Sanders in his book Fast Track Photographer: In the 1st year, 60% of photographers give up their business. Of that remaining 40%, another 25% will fail within the 2nd year. The ones that make it are the remaining 15% who endure through the 3rd year.

That’s a staggering 85% turnover rate.

Obviously, something is wrong with the way most photographers enter into this business.

So, you want to enter this business? Do your research. In reality, the photographic industry is not about photography. Photography is the end product, yes, but it is only a small percentage of what the industry is about. The rest is about business; Real-to-life business application.

What is the greatest challenge to photographic business? Understanding that many standard business principles apply to this industry, but to a degree, business principles take on a customized spin to photography business. [read]

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