Business Entity Creation
a-baird-photograph
Registered Users Posts: 45 Big grins
Endulge me for a moment...
Do any of you have seperate business entities for the different genre's that you shoot? For example a business identity for Architectural and seperate for People photography? If so, how is that structured? Do you have an LLC for each, or one and dba's for the different genres?
What the heck am I getting at? I've taken pictures of mostly people. Mostly as a hobby, with a few dollars sprinkled in. Recently I've been asked to do more corporate headshots of a local construction business. As we've been around the construction sites, I've taken some pics of their buildings, golf courses, and construction processes. They've been impressed and asked if I'd be willing to enter a contract to continue their corporate photography (all existing real estate agents and new ones they bring on), events for openings that they have, stock images of new model homes/options being built, golf course photos, and clubhouse photos. We've discussed a pricing structure that I think is fair, competitive for others in the area, flexible to changing circumstances, and includes appropriate OH (including insurance), Profit, Licensing, advertising circulation, etc. That list is long and diverse. As we've gotten to brass tacks, their vendor contract has insurance limits that makes me really want some business entity protection that an LLC has to offer (I like my family a lot, and would hate to lose everything and dwell in a tent).
This has been a great process, and a great opportunity to make this hobby a real business. The process of business planning, really looking at the market, competition, pricing, etc. to make a go of it.
Seeing that this could be a lucrative start to something that I hadn't considered previously, I'd like to create a seperate brand for the architectural/real estate portion of the business and another for the people pics. I think combining the two will/may dilute the brand and confuse potential clients on one side or the other. Really, I'm trying to create the answer of "What type of photog are you?" after viewing a website for 30 seconds. Am I over-thinking this?
Do any of you have seperate business entities for the different genre's that you shoot? For example a business identity for Architectural and seperate for People photography? If so, how is that structured? Do you have an LLC for each, or one and dba's for the different genres?
What the heck am I getting at? I've taken pictures of mostly people. Mostly as a hobby, with a few dollars sprinkled in. Recently I've been asked to do more corporate headshots of a local construction business. As we've been around the construction sites, I've taken some pics of their buildings, golf courses, and construction processes. They've been impressed and asked if I'd be willing to enter a contract to continue their corporate photography (all existing real estate agents and new ones they bring on), events for openings that they have, stock images of new model homes/options being built, golf course photos, and clubhouse photos. We've discussed a pricing structure that I think is fair, competitive for others in the area, flexible to changing circumstances, and includes appropriate OH (including insurance), Profit, Licensing, advertising circulation, etc. That list is long and diverse. As we've gotten to brass tacks, their vendor contract has insurance limits that makes me really want some business entity protection that an LLC has to offer (I like my family a lot, and would hate to lose everything and dwell in a tent).
This has been a great process, and a great opportunity to make this hobby a real business. The process of business planning, really looking at the market, competition, pricing, etc. to make a go of it.
Seeing that this could be a lucrative start to something that I hadn't considered previously, I'd like to create a seperate brand for the architectural/real estate portion of the business and another for the people pics. I think combining the two will/may dilute the brand and confuse potential clients on one side or the other. Really, I'm trying to create the answer of "What type of photog are you?" after viewing a website for 30 seconds. Am I over-thinking this?
Body: Canon XTi
Glass: 85mm f1.8, 50mm f1.8, 18-55mm f3.5-5.6, 70-300mm f4.0-5.6, Sigma 10-22mm f4-5.6
Glass: 85mm f1.8, 50mm f1.8, 18-55mm f3.5-5.6, 70-300mm f4.0-5.6, Sigma 10-22mm f4-5.6
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Comments
Under my photogrpahy i offer: Portraits, weddings, commerical, events, modeling portfolios, and basically you ask me and I'll probably agree to shoot it, if i honestly feel I can get great results.................
No need for an enity or identity for each and every facet or type of shooting one wants to do........
make sure you are not just another hourly employee......amke sure you are getting at least min rate for your area....there is a website that will calucalate that for you but i cannot remember its addy or name............
make sure also you can take on other work even if it is of the exact same type of one of their competitors......goes along with not being just another hourly employee............
KEEP IT AS SIMPLE AS POSSIBLE!!!!!!
Flash Frozen Photography, Inc.
http://flashfrozenphotography.com