Question by Emily: What tips do you have on me starting my own business?
Im starting my own photography business and Im 16. What should I charge? How do I go about doing it? Help?
Best answer:
Answer by Dog Daze
First you need to answer the question “Why would someone hire me versus the competition?” That way you have a clear idea if your goal is to compete on price, location, particular types of events, particular types of studio shots, post-processing or something else.
Then you can research the business, get a feeling for what others who would be direct or indirect competitors are charging, and use that as one guide. The second guide is to do a basic cost analysis of the business, and there is research a librarian at your local library may be able to help you with (there is a book that lists the basic balance sheets of various types of businesses). How much will your equipment cost? Travel to/from shoots? Hiring models or buying props? Your basic time? What minimum profit margin makes it worth your time? Etc.
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