How to Succeed in the

Given the unprecedented number of photographers entering the portrait/wedding industry each year, the increased level of competition makes it even more important for both new and experienced photographers to master the fundamentals of business management if they expect to achieve financial success. These key success strategies are outlined in the industry's first Financial Benchmark Survey published by Professional Photographers of America in 2006. Here are some important highlights:

Gain experience before you quit your day job.
Learn about the business of photography by operating a part-time business while still drawing a salary from stable employment. Don't go out on your own until you can:

• Develop a following among your target market, so that you can gain client referrals.
• Develop consistent cash flow from your part-time business. Most experts agree that a photographer should be grossing between $50,000 and $100,000 annually before it is wise to consider a full-time business in a home studio and at least $150,000 before considering a move to a retail location.
• Create an efficient workflow that will allow you to deliver orders on time.
• Bank enough cash to live on until your business becomes profitable. This can take from two to five years.
  

Control your start-up overhead.
Starting a home-based business will help you to control operating costs and provide the additional benefit of writing off some home expenses as legitimate business deductions. Not every home lends itself to business operations because of zoning and/or image considerations. So if you must start a business outside the home, search for a low-rent location such as a community-based business incubator until your business can afford costlier facilities.

Understand financial and operational requirements.
Don't go into business until you understand the financial requirements of doing business. Vital areas of concern are:

• Being fully aware of all business costs, from investment capital to monthly expenses and product production costs.
• Knowing how many sessions or events you must photograph to cover these costs and earn a profit.
• Learning how to price your photography according to industry standards that assure profitability.
  

PPA's Studio Management Services covers these issues at their Business Basics Workshops PPA Headquarters in Atlanta. The next Portrait-Wedding Basics workshop is scheduled for July 19-20. A Business Basics Workshop for Wedding Photography is scheduled for August 10-11. You can learn more about these workshops by clicking here.

 

Budget your capital investments very carefully.  
Too much debt will doom a business from the start. Remember: Your business must be able to generate enough revenue to pay you (or the bank) back for the capital investments you make. Even if you have the cash to invest in capital items and don't have to go into debt, that cash might be needed to help you survive the early business years when most studios do not generate enough revenue for the owner to draw a salary. Once you have the business start-up essentials, a good rule of thumb is to purchase only those extras that you can pay for within 12 months.

Once you do take the plunge into a fulltime business, build business volume as fast as you can, doing whatever it takes to get clients in the door.  
PPA's Benchmark Survey confirms what business authorities know: The difference between financial success and failure often turns on the ability of a new business to build sales volume quickly. That's why many recommend not starting a full-time business until you already have a loyal following from running a part-time business. Even so, a full-time business will require additional strategies for building sales. Get the word out any way you can: through networking with other businesses; hosting a series of open house events for different community segments; get involved with charitable organizations by donating photography to their fund-raisers; look for "marketing partners" to help spread the word; get displays of your work on the walls of retail businesses and/or professional offices; and even offer "invitational sessions" for the purpose of "expanding your advertising portfolio" or making samples. Building your business base early will establish sales levels high enough to sustain your business over the long term.

Develop a clear business focus that

consumers can easily understand. 

Don't expect prospects to be attracted to your business if you fail to create a business concept that is easily understood by consumers or one that lacks compelling products to excite their fancy. Sometimes it pays to direct your new business to only one or two niches, such as family and children's portraiture or wedding photography. Limiting your business in this way will help you to develop a strong focus that consumers can readily understand, and it will greatly simplify your marketing efforts.

Study effective marketing methods.

Learn how to create year-round marketing strategies designed to:

• Attract new clients.
• Market back to existing clients, finding ways to reward them for their loyalty.

 An excellent resource for learning about marketing methods as well as helping you to create a marketing plan is the Marketing Resource & Activity Planner for the Professional Photographer, available from Marathon Press at MarathonPress.com or call 800/228.0629.

 

 

 

Marathon Workshops Will Help You

For photographers who wear so many artistic and administrative hats during their busy workdays, creating a marketing plan can be a daunting prospect. However, you can find the help you need to create a comprehensive marketing plan for your existing business at Marathon's NEW Strategic Marketing Plan Workshops. Held around the country, these dynamic two-day events allow you the hands-on opportunity you need to craft an individualized marketing plan under the guidance of experienced workshop leaders Ann Monteith and Mark Weber, both of whom are Master Photographers as well as expert marketers. Marathon Workshops provide a rare opportunity to work out a plan - specific to your personal goals and the brand you wish to build - in a supportive atmosphere that is away from the day-to-day stresses of the studio. For a schedule of upcoming workshops and additional workshop content information, click here. You can register online at www.MarathonPress.com.

 

In Marathon's next eNewsletter, you'll find additional suggestions for creating a financially successful business drawn from PPA's Financial Benchmark Survey.

 

 

 

July 14-18 in Columbus, Ohio
August 4-8 in Dallas, Texas
 
Did you know that underclass school photographers (Grades K-11) earn some of the best money in the photo industry? This comprehensive 5-day program presents everything you need to know to operate a successful undergraduate school portrait & yearbook business. 

Led by Chris Wunder, Cr. Photog. the nation's leading educator on School & Event Photography. Chris offers this program only twice per year, and this is your chance! 
 
You'll learn how to book schools, what they expect, what they avoid, the products and services you'll need to offer, and what it takes to beat the national competitors. The "fast track" tactics and strategies taught in this course have helped thousands of photographers enter and profit from this market.
 
Tuesday, Wednesday and Thursday focuses on School Portrait Techniques. Learn how to photograph 500 students in less than 3 hours while maintaining good quality, excellent customer service with highly-accurate student data and linked image management. This part of the program is a hands-on training experience.

Friday focuses on an important and integral part of any successful School Photography program - Yearbooks & Memory Books. Learn how to handle yearbook staff & advisor relations, sales and marketing for yearbooks and layout techniques. Get tips on how to price, sell and service school yearbook accounts. 
 
This program has SOLD OUT every year for the past 5 years.  Register early to reserve your spot and save money!
 
All Five Days - $499 per person
With Pre-registration & payment by June 13, 2008. $599 per person after June 13.
 
Four Day Pass - Your choice of Dates
$449 per person
With Pre-Registration and Payment by June 13, 2008.  $499 per person after June 13.
 

To register, call
800/228.0629 Final deadline for registration is two weeks prior to the event for any seats remaining.  Sorry, no registrations will be accepted at the door.

 

 

 

Be the first notified of new Webinars. Join our Webinar Updates newsletter list by clicking here.

 

June:

• 12 Unique Ways to Get Stunning Results from Your On Camera Flash and 3 to Avoid
  
with David Ziser

  Wednesday, June 18 - 8PM CST
• Branding: Defining Your Identity

  with Julia Woods 

  Monday, June 23 - 12 Noon CST
• Getting into the Paint

  with Helen Yancy

  Monday, June 23 - 4PM CST
• Relationship Marketing at Its Best-Creating Newsletters

  with Bruce Hudson

  Thursday, June 26 - 47PM CST
• Building a Baby Plan

  with Sam Puc

  Monday, June 30 - 12 Noon CST
• Buisiness Checkup-Your Financial Health
  
with Ann Monteith

  Monday, June 30 - 4PM CST

  Registration: FREE
  

July:

• Eco Chic Organic Marketing-It's All Natural
  with Carol Andrews

  Monday, July 7 - 12Noon CST
• Glamour: Creating Couture Wedding Photography

  with Yervant and Anie Zanazanian

  Monday, July 7 - 6PM CST
• Creating and Selling Large Wall Decor 

  with Bruce Hudson

  Thursday, July 10 - 7PM CST
• Little Angels: Charitable Marketing and Displays 

  with Lori Nordstrom

  Monday, July 14 - 12Noon CST
• A Sales Plan=Bigger Sales
  
with Mary Fisk-Taylor 

  Wednesday, July 16 - 7PM CST
• Supersize Your Sales

  with Greg Stangl

  Friday, July 18 - 12Noon CST
• Troubleshooting Files in CS3

  with Eddie Tapp

  Monday, July 21 - 10AM CST
• Win-Win Marketing: Become a ROCK STAR in Your Community

  with Bruce Hudson

  Thursday, July 24 - 7PM CST
• Getting the Most from Your Printing Budget

  with Sarah Petty

  Monday, July 28 - 12 Noon CST

  Registration: FREE
• The Family Portrait

  with Bert Behnke

  Tuesday, July 29 - 7PM CST
• Making it Easy for Your Clients to Spend More

  with John Hartman

  Thursday, July 31 - 7PM CST
  

Registration is $47 per event unless otherwise stated. Webinars take place during Central Time and last one hour.

Only 100 reservations are accepted for each webinar so register early to be sure you are admitted. The schedule is constantly updated, so be sure to check back often for upcoming Events.

To register, click here: www.MarathonPress.com 

 

Have you been dreaming of custom boxes to match your studio style? Now you can have your own custom 8x10 boxes! Marathon's group box run allows you to purchase custom 8x10 boxes in lower quantities and at exceptional prices. This opportunity will only be offered once this year.

 

250...$4 each

500...$2.75 each

1000...$2.25 each

2500...$2 each
5000...$1.80 each

Box tops will feature your custom design printed on gloss paper. The inside of each box is white. Choice of chocolate or black box bottoms.

Orders must be placed and files received by July 1, 2008.
Boxes will be delivered in August.

Looking for more than just 8x10 boxes? Take a look at BellaGrafica's Portrait Folders, which can be custom printed with your studio design. Available in sizes from 11x14 to Wallet Boxes.

 

For more information or to place your order, contact an account representative at 800/385.5938.

 

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Just Announced!
Limited Edition
Die-Cut Greeting Cards

WOW your clients with three new die-cut Greeting Card options available through mPrint by Marathon Press. Create your design and upload to order...it's that simple. Best of all, shipping is absolutely free!




5 ½ x 5 ½ Circle Card
or
5 ½ x 5 ½ Two-panel Circle Notecard
Think outside the box! The Circle Card is sure to attract clients looking for something no one has done before. For more design space, look to the Two-panel Circle Notecard which arrives scored for easy folding.




7 ½ x 5 ¼ Mitten Card
This adorable shape is perfect for winter holidays. Order more than one Mitten Card and tie them together with string or a beautiful ribbon for an amazing presentation.

Quantities begin at just 25 pieces and include your choice of five papers:

• Gloss (including flood UV coating on outside)
• Matte
• Watercolor
• Linen
• Pearl

Limited Edition Die-Cut Greeting Cards are a premium service of mPrint by Marathon. Unlike mPrint's standard products, these premium cards are only offered in limited runs available every two weeks. Please plan accordingly for holiday delivery. Envelopes are available for a small additional charge.

For pricing, visit MarathonPress.com. To activate your free personal ordering site or to receive paper samples, please contact an account representative at 800/228.0629.

 

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Time to Plan Your Fall Marketing Strategy

Before you know it the hot days of summer will give way to the cool, crisp air of autumn. So now is the ideal time to begin planning for Fall marketing. Look to Marathon for all your Fall marketing needs including:

• Custom Promotional Campaigns to maximize your impact and your marketing dollar
• Preproduced Promotional Pieces for quick and inexpensive marketing
• Client Education Tools to boost sales
• Packaging including Bags, Delivery Boxes, Portrait Folders and Belly Bands
• Mailing Services including mailing lists to target your ideal clientele

Be sure to check out Marathon's Fall and Holiday Marketing Guide appearing in July's Professional Photographer Magazine and Studio Photography and Design.

 

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