Laguna Beach Photographers can Lower Expenses to Increase Profits

Business Articles | June 25, 2009

Orange County photographers work in a competitive environment. There are an increasing number of OC wedding photographers and portrait photography businesses coming online.

During difficult economic times businesses are made more competitive because they are forced to cut waste and focus their resources on those activities which produce the largest return on investments.

A photography industry can increase profits during an economic downturn by lowering expenses. The following is a list of suggestions professional photographers can use to lower their operating expenses.

1. If an Orange County photographer is renting a studio, he can seek a renegotiation of the rental terms. During difficult economic times commercial real estate is one of the first areas to endure price declines. This can be a boon for renters. You may first ask for rent reduction. If it is not given, see what people signing new leases are paying. If you are paying substantially more than they, you may need to threaten to leave.

2. Be willing to share a studio with another photographer. If your bookings are down see if you can share studio space with another photographer. This will reduce rent and utilities. In addition - if your serve different markets (one of you photographs weddings the other senior portraits) you may be able to share receptionists and marketing efforts.

3. Look for a printing lab that has lower prices. During a recession you may find it necessary to lower prices. The good news is that your suppliers are likely finding it necessary to lower prices as well. The printing industry has become increasingly competitive. If you have not comparison priced over the past few years, you may be able to find a lab that offers similar results at a 30% reduction compared to what you are currently paying. This will substantially help you profit margins. As a result, you may be able to maintain your current profits even while offering lower prices.

4. Perform an audit of the repeat services you are being billed for and eliminate those which are no longer needed. For example, have you found that you are paying for an email newsletter service but are no longer using it? That might be a good service to ax. Are their magazine subscriptions you are paying for which you could read online? That might be another place to save some money. Ask your employees how to cut costs or make systems more efficient. They are closest to the action and will likely have a number of ideas which can be implemented.

An OC wedding photography business that focuses on streamlining during a recession will be in a terrific position to expand when the economy recovers.

Article Tags: Increase Profits, Lower Prices

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ABOUT THE AUTHOR

Stephen and Vanessa are Orange County residents. Vanessa began her photography business by serving Murrieta and Temecula. She shot weddings, family portraits, and engagement shots.

She later started an office in Newport Beach and became an Orange County Photographer. She expanded her services to Laguna Beach, Huntington Beach, Irvine, Dana Point and San Diego.

Vanessa now works as a Laguna Beach Family Portrait Photographer. She also teaches classes on technique and business practices to other OC Wedding Photographers.