Should I Rent A Photography Studio For My Business?

Well, hey everyone. It’s Scott again with NewPortraitBiz.com and in today’s Quick Tips video, I’m going to actually read another question that came in which—the questions coming in are awesome. I sent out an e-mail not too long ago explaining the Quick Tip format that we’re doing here just to kinda get some quick answers to some of your questions. And in this way here, you can hopefully get the answer and get to work as soon as possible.

So, this first one today that came in from Rhonda and she has a dilemma. And she said that she’s been doing some sessions at a church daycare and that’s where she’s really been using her studio for. Well, she wants to do more for the holiday season coming up, which if you’re not, you really gotta consider doing stuff for the holiday season ’cause it’s probably one of your busiest times.

But her question was this is that there’s a location that there’s pretty good amount of traffic that she’s saying and there’s a storefront there that she can rent possibly for the month or even the next two months. And she wanted to know if I thought that was a good idea to do. Well, I don’t think anybody can really give you that advice because I don’t have all of the numbers. And it’s really a numbers game. If you have the space, you have to be doing sessions.

That’s the thing with overhead. If you’re working out of your basement or out of your, you know, living room or wherever, you really don’t have a lot of overhead. You just have your equipment. But once you get some overhead cost involved, you really gotta make sure that it’s gonna work out for you. Now, I’m not saying you don’t take a chance. Now, if someone says, “Well, let’s—we’re not gonna be renting this space for the month of November. Would you like to have it for 500 bucks?”, well, then you can say, “OK. Well, my average session is between $100 and $200 and I usually—Christmas cards, I usually do this much,” and, I mean, you really have to know your numbers. Now, if you don’t know your numbers, then you are definitely taking a gamble. So, my advice to her was “You need to figure out your numbers and you gotta have a plan before you go in there and do it.”

Now, she did respond back after I e-mailed her and said that someone else there has a store with a little bit extra room and maybe they can go in together for the month of November, and then this way here, she could use part of that space. I think that’s a wonderful idea for two reasons. One, it’s gonna be able to take the cost and spread it out amongst the two, and also you’re already gonna have some traffic that this person already has coming in their store. So, that’s what I would recommend. But not everybody has that option.

So, me personally, you know, it’s kinda getting late, right? I mean, if you’re watching this video in July, this might not pertain to you, but it is gonna pertain to you if you have special events or anything like that. So, just treat this as like a special event. The holiday’s coming up, Christmas, New Year’s, all that stuff. You really gotta be doing this stuff in advance because usually you have about a six to an eight-week window. And here we are, November, and you got about four to five more weeks. So, you really gotta move on it.

But, I just wanted to share this with you because some of you may have the same questions. Do I need a studio? Do I need to rent out some space? Think about it, get your numbers down, and then that will tell you if it’s gonna be worth it or not. All right? So, that’s this Quick Tip session. If you have any other questions, please e-mail them to me and I’ll try to do a lesson just like this real quick so everyone else can benefit in our NPB community. Thanks a lot. I’ll talk to you later.

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