Photography can be a profitable business, with the income for a photographer potentially being higher than you might think.
Photography is directly used in arts, film production, mass communication, and even for a hobby or recreational purposes. In addition, photographers are hired for professional photo shoot sessions and special occasions and events.
High-quality photography equipment is expensive. But thanks to equipment leasing companies that can finance photography equipment, pursuing this career is easier than ever.
That’s when you get to think about getting into photography, you need to consider what to offer as a service, and how to minimize your costs (and thus increase your profitability).
That’s why in this blog post I’ll talk about tips for maximizing your revenue as a photographer. Then, we’ll discuss in length how you can finance photography equipment.
Different Ways to Maximize Your Income as a Photographer
Some people think that photography businesses aren’t that profitable. What they don’t know is that a photography business can offer an array of photo shoot programs and packages. And as you would expect, some programs/packages are more profitable than others.
So without further ado, let’s dive in on the different ways you can expand your photography business.
1. Offer Smaller Mini-Sessions
Many people only hire a photographer if there's a large event such as a wedding, company events, etc. Some people worry about how expensive photography sessions can be, so they rarely hire photographers for small occasions.
To avoid this from happening in your photography business, try offering mini-sessions.
You can charge $80 for a quick 20- to 30-minute shoot. Some photographers use mini-sessions to get new clients and later can book them for larger events.
If your customer is satisfied with your service, there’s a possibility that they’re going to book you during regular events such as holidays or birthdays.
2. Consider to Try Stock Photography
Stock photography as well as camera finance can also increase our income.
Try selling your photos through photography websites such as Alamy and Shutterstock. Stock photography is a profitable industry because there are many businesses that use stock photos for commercial use.
The ROI (Return on investment) for stock photography depends on how many images you are going to sell.
Usually, images can only sell for a few cents to a few dollars.
That’s why many photographers upload a hundred of images on multiple different stock sites. Uploading your photos to stock sites can be a passive income because income will keep coming month after month even if you stop working on it.
3. Shoot a Sporting Event or Nightclub
Event or nightclub photo shoots can also be a great way to increase your photography business revenue.
To do this, know any events in your area, such as youth events, concerts, or even nightclubs, and offer your shooting services with these events. Usually, promoters and event organizers are always in need of photographers to shoot.
Contact club owners or nightclub promoters and you can ask them if they’re looking for a photographer to hire. Other than that, you can also just simply show up to the event and offer your photo services.
4. Shoot for Free and for a Cause
Generally, having a free shoot won’t give you an income. However, this is a great way to create a large number of your connections.
When you volunteer at a charity event, you'll gain exposure and goodwill within your local community. Just don’t forget to include your watermark on the photos especially if you uploaded it on the social media so people will recognize you.
Having a shoot for a cause will get your name a good recognition. What’s more is that you’re donating to a good cause for those who are in need.
Free photo shoots sessions will benefit you in the long run because it can help you gain life-long clients. Remember, people often do businesses with people who they trust and have a positive outlook in life.
5. Start a Referral Program
Always try offering your clients a discount if they will refer their friends and family. Having a referral program can increase your income. Your referral program can encourage clients to hire you again if you choose to offer the discount to their next session.
Having a referral program can also bring you new clients. Remember, discounts hook customers. They always do. People rarely pass on opportunities where they can avail a service for a cheaper price.
However, your referral program needs to be executed properly. Otherwise, you’ll only lose your income or even hurt your capital. With that in mind, take note that you'll only offer discounts if your client’s referred friends or family will actually book your services.
6. Start Organizing a Contest for a Free Photo Shoot
Organizing a contest for free photo shoot is a great way to grow your client list. Again, people always love it when they can avail a service for free or for cheaper price.
Encourage them to join your contest simply by asking them their email addresses. Once you have their emails, you can start sending them newsletters.
You can also offer those who don’t win a special discount on your services.
7. Provide Discounts for a Large Number of Orders
People like businesses that offer discounts.
So to attract more clients, consider offering discounts for bulk orders. You can also give them a discount if they book for a certain number of photo shoots with you per year.
For example, you can start offering a 10% discount if they buy 50 number of prints from you. Along with that, also offer a discounted rate of your service if they book with you 3 times in one year.
Getting To Finance Photography Equipment to Help Increase Photography Income
Offering rebates, promos, and holding events can help you grow your cash flow. But what’s more significant in increasing your sales is the satisfaction of your customers.
When your clients are happy with your work, then they are highly likely to book you again for future events. They may even refer you to big companies.
And of course, the key to achieving customer satisfaction (aside from mad photography skills) is by using top-notch photography equipment.
It’s fair to think that high-quality photography tools come in a high price. So if you think your capital isn’t enough to acquire these expensive items, consider getting external funds from financing companies to finance photography equipment for you.
Banks are great options too, but they usually set higher standards and rigid requirements, making them less of an option.
Benefits of Finance Photography Equipment
Equipment finance companies offer financing solutions to start-ups and well-established photography businesses. Not only that, they will also assist you in using your borrowed money to ensure that you’re going to get the best from it.
Getting the business loan from equipment financing companies to finance photography equipment also allows you to have a healthy budget and save your working capital. Usually, the equipment finance company gives you an affordable and fixed monthly payments.
The Best Equipment Financing Company to Help Increase Income for a Photographer
Getting financial assistance from equipment financing companies can definitely help your business. But, of course, it’s important that you acquire funds from a reliable and reputable equipment financing programs offered by the company Trust Capital.
Trust Capital is the nations photography equipment financing leader that offer to finance photography equipment for both small and large businesses. They offer financial solutions whether you want to replace your outdated and failed equipment or just add on and expand your photography studio.
Trust Capital removes the hassles of application by providing a single page equipment lease online application on their website. Also, Trust Capital can create solutions that minimize cost and maximizes return for your photography business. The company offers no payments for the first 90 days and $99 for the first six months followed by a terms between 12 months and 72 months, this will help improve your cash flow.
Their company is loved by their clients because of their honesty and fairness. There is no misleading information on their website or other marketing materials and they have many wonderful reviews on Trust Pilot.
Final Thoughts on Maximizing Your Photography Income
Throughout the blog post, we talked about maximizing your income for your photography business and how to finance photography equipment.
You can increase the revenue of your photography business by doing the following:
- Offering cheap services for small events,
- Offering discounts for referrals and bulk orders,
- Shooting exclusive events,
- Selling pictures through stock photography, and
- Holding events such as free photo shoot.
Taking each of these steps can help maximize income for a photographer at any level.
Bear in mind that it’s also vital that you use high-quality photography equipment. You need to acquire new and reliable photography equipment to ensure that you’re providing the best quality of work.
Don't worry about the cost of acquiring new equipment because equipment financing companies can offer financial assistance to a photography business like yours.
If you want to know more about how to finance photography equipment for your studio, you can reach Trust Capital at (866) 458-4777.