Laguna Beach photographers can either raise prices or lower expenses to increase profits. The following are some suggestions for lowering expenses.
There are two ways to increase profits on any job in the photography industry. Raise prices or reduce costs. This article offers some suggestions on how a photographer can do the latter.
Consider giving up the studio space. If you your business is relatively small and your studio costs are eating into your profits, consider getting out of the space. Many photographers are able to run their business without a studio. They focus more of their marketing on weddings – almost by definition a wedding will not be shot in a studio. They offer to come to their client’s home and setup a backdrop or shoot at the beach or at a local park. If on a rare occasion they need a studio, they rent one out from another photographer. Setting up a small studio in your home is another option.
Shop printing companies. Over the past few years, the number of quality print companies has increased substantially. If you have not done a comparison shop within the last three years you may be paying more than is necessary. A twenty percent drop in print prices has a substantial impact on the profits of a photography business.
Use a remote computer system to lower your labor costs. If you live in a high cost labor market and your graphic designers are local, you may be able to find someone in a low cost market who can do the same quality of work. With a remote system, the business owner keeps the images on his computer. The graphic designers can then log onto the company computer from any Internet connection and perform the work at anytime. Not only can this strategy lower costs, it can also increase the life work satisfaction of the graphic designer because it gives him some flexibility in when he performs his work.
A recession, in the end can have a silver lining. It is usually during a recession that a business makes great strides in efficiencies and resource management, leaving the business in a much better position to take advantage of an economic upturn when it arrives. The above are three suggestions on how a photographer can do just that.
After beginning her practice in Murrieta, Vanessa started an office in Newport Beach and became an Orange County Photographer. She expanded her services to Laguna Beach, Huntington Beach, Irvinee, Dana Point and San Diego.