Uncategorized

3 Simple Steps to Running a Profitable Photography Business

October 28, 2020

Share to:

OPEN SIDEBAR >

Featured Post

Photography Education

Maternity Photography

Family Photography

In-Home Newborn Photography

Top Categories

READ MORE

Hi I’m Morgan! I’m a photography educator and Raleigh, NC newborn photographer and family photographer.

Meet Morgan

< BACK TO SITE

< BACK TO SITE

Running a profitable photography business isn’t as easy and straightforward as one might think. And it gets even muddier when we add in all of the responsibilities of motherhood on top of that.

You’re changing diapers, dropping kids off at school, being a snack slave and trying to keep your mini me entertained just long enough to finish up editing a client’s session.

And you’re also supposed to make sure you’re doing it in a profitable way? “Ain’t nobody got time for that,” you say. So you wing it and hope to make a buck.

But wouldn’t it be so much more satisfying to know that all of the multitasking, the time away from your family and the juggling of responsibilities was happening because you were making a buck? Maybe even several hundred or thousand of them?

Not to mention, your partner may be more inclined to support your side hustle if you were contributing financially to your family.

So let’s talk about three simple steps you can take today to insure you’re running a profitable photography business – even with a toddler hanging off your leg.

Create a Profitable Photography Business in 3 Simple Steps

  1. How much money do you want to make?
    One million dollars? Me too, sister. But if you’re not bringing home any bacon right now, let’s start from a more realistic place.

    Here are some questions to consider:
    – What amount makes it worth it for you to be away from your family?
    – How much do you need to contribute per month to meet a financial goal you have set for yourself or your family?
    – What kind of lifestyle do you want to live, and how can your financial contributions support that?

    Choose an amount you want to make monthly that feels attainable but also one you’ll have to work for, and write it down.

  2. Calculate your Cost of Doing Business (CODB)
    Listen. If you want to make money, you need to know what you’re spending on an annual and monthly basis first. We all know running a photography business isn’t free, so these expenses need to be accounted for.

    Take into account that as a mom, you have more to think about. Do you need to consider what you’re spending on babysitters so that you can shoot? Or maybe you need childcare so that you can edit and work on the backend of your business? Do you need to get takeout for your family on the nights you have sessions?

    Think about all of these things. And then also account for everything from camera gear to website costs to monthly subscriptions to client gifts to education. Oh, and taxes. We wouldn’t want to forget about those. And write it all down.

    Go through your bank statements if that’s easier, and make sure you account for everything.

    Look at what your business expenses run on a monthly basis and add that to the number from step one.

  3. How many sessions do you need to book per month to meet that number?

    So let’s say on average, your business expenses plus taxes run $700 per month, and you want to pay yourself $1,000 per month. You’ll need to make at least $1,700 per month to meet your goal.

    From here, you’ll need to calculate how many sessions you need to photograph per month in order to meet your monthly income goal.

    If you’re only charging $100 per session, you’re going to be busy, girlfriend. So here’s a better idea: raise your prices!

    If you’re charging $600 on average for a session, then you only have to shoot three sessions per month to meet (and exceed) your goal! That means way more time with your family, a lot less stress, more money in your pocket and if we’re being honest…more grateful clients.

Maybe you ran the numbers and you’re feeling incredibly overwhelmed. Perhaps it means you need to shoot an unrealistic number of sessions per month or you need to triple your prices.

Whatever it is, don’t be discouraged. Because right now, you’re in a much better place than you were before you did this exercise. Now you have a goal and something concrete to work towards.

And once you get there, not only will you be better for it, but your family will too.

As a bonus, I made a free download for you! Three hacks every MOMTOG needs to know to thrive in business and life – Download it HERE!

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Favorite Posts

don't miss

Brand & SITE DESIGN BY BELLA MAVEN | TERMS AND CONDITIONS | PRIVACY POLICY