Setting up a studio

blackwaterstudio · October 12, 2005

As you know I'm in the process of setting up a studio. I've applied for a SBL (Small Business loan) in the amount of $15,000. I've made 3 lists which would get me into the equipment I would need. Any advice is greatly appreciated.

Package 1;

$15,000 - Loan
$7,400 – Camera, Canon 1DsMKII
$1,800 – Lights, Alien Bee Intergalatic package with a few changes to it.
$2,255 – Laptop, Dell Inspiron 9300
$260 – Flash Meter, Sekonic L-358
$640 – Pocket Wizard, 1 Multi-Plus, with 2 plus receiver's
$324 – Ram, 3 gig's
$2,331 – Left

Package 2;

$15,000 - Loan
$4,031 – Camera, Canon 1DMKII N
$1,800 – Lights, Alien Bee Intergalatic package with a few changes to it.
$2,255 – Laptop, Dell Inspiron 9300
$260 - Flash Meter, Sekonic L-358
$640 – Pocket Wizard, 1 Multi-Plus, with 2 plus receiver's
$324 – Ram, 3 gig's
$5,690 – Left

Package 3;

$15,000 – Loan
$3,326 – Camera, Canon 5D
$1,800 – Lights, Alien Bee Intergalatic package with a few changes to it.
$2,255 – Laptop, Dell Inspiron 9300
$260 – Flash meter, Sekonic L-358
$640 – Pocket Wizard, 1 Multi-Plus, with 2 plus receiver's
$324 – Ram, 3 gig's
$6,395 - Left

John Mueller · October 12, 2005

They all sound great,but I would stick with the 20D and as business increased and you see a good profit margin then I would consider another camera.
Hold the money back for other items that may come up.

blackwaterstudio · October 12, 2005

John Mueller wrote:

They all sound great,but I would stick with the 20D and as business increased and you see a good profit margin then I would consider another camera.
Hold the money back for other items that may come up.

That also may be a way to go about this. The rest of the equipment I listed will be needed, the camera I can hold off on till a later date. Just trying to figure my options out at this point.

Shay Stephens · October 12, 2005

What do you intend on shooting primarily? And where will you be doing it? That has a big effect on what you need to buy.

blackwaterstudio · October 12, 2005

Shay Stephens wrote:

What do you intend on shooting primarily? And where will you be doing it? That has a big effect on what you need to buy.

Main focus is going to be on model/portraits/fasion what I plan on doing weddings, product, sports, etc.

I'm going tomorrow to look at a couple places I can use for a studio.

Shay Stephens · October 12, 2005

Random thoughts that cross my mind
Ok, so you plan on being a full service studio able to shoot anything and everything that comes your way. One problem. You need way more money to do that.

Take this advice for what it is costing you, but, I would want to try and focus your business plan a little tighter. I looked at you gallery and you don't have much in the way of people photography, and you really do need some experience in shooting people to do good at the model/portrait/fashion segments.

Weddings are all location work, and that usually takes a different set of equipment than studio work. It's also heavy into the people photography department, and you have to know your lighting and equipment setup blind folded because you don't have a lot of time when you are there.

Product photography is a whole animal to itself, and you need specialized studio equipment that you don't need for people photos.

It looks like your main experience right now is sports related.

Now before you go off and commit to paying a long lease on a studio, figure out if you even need one. You can spend all your money and more leasing studio space that may never be used. Is there space available that you can rent periodically as the need arises? Are there any nearby businesses that have some extra room they would let you work in periodically?

How many other photographers are in your area and what do they shoot? What is not being shot? Is it not being shot because there is no market or because that work is done outside your area? Would you being able to shoot such things bring work back in locally or would you rot on the vine because there is no business to be had in that field?

Just some things to think about before committing a lot of money to something if you know what I mean.

What will you do for backdrops if you go the studio route? Do you need props? Will you be building sets in the studio or rely on location scouting when something more than a backdrop is needed? The bee package is a good start, but you will need more light modifiers than the kit supplies especially if doing product.

If you are doing fashion/glamor will the proposed studio have a dressing room? A place to do makeup? Do you have a make up artist lined up? How about hair?

Do you have clients currently? What prevents you from getting work right now with the equipment you currently own? If you can't get work now, having more equipment won't help any. I would rather spend some money on business cards and see what kind of steady business I could rustle up and complete with the equipment on hand before getting a studio space and big loans for big shiny equipment.

From the little that I know right now about your situation, it sounds like you may be jumping the gun a little here and setting yourself up for an expensive mistake. I could be flat out wrong and just don't know enough, but my warning bells are sounding right now and I thought I would let that be known :-)

jdsphotography wrote:

Main focus is going to be on model/portraits/fasion what I plan on doing weddings, product, sports, etc.

I'm going tomorrow to look at a couple places I can use for a studio.

dragon300zx · October 13, 2005

I kinda think shay may be right here.

Speaking from expeirience I have started my own company before. Jumped right out of the blocks with it. And regretted it.

Do you currently have work coming in?

Are you currently making enough of this work to support the costs of having a business?

I would agree with shay and start small. Specialize in something (while working the horrid day job that we all want to get ride of), get a good client base off of that, and when other assignments come your way that you are capable of doing take those as well. You may have to rent studio space from time to time at first. Possibly even some equipment. But you won't have the huge over head and risk. Once you have a good client base and it's making you a fair amount of money then if you really want go at it full time with whatever bells and whistles you need.

Thats what I'm in the process of doing myself right now and it really is the best way to start a company that will be around for awhile. Last month I doubled the income from my day job. This month not so much because I didn't have time to do marketing or sales etc. Take it slowly and you'll be amazed at where you end up in a year or two. The best marketing is always word of mouth. Start building a small, loyal, and happy customer base now and in a couple years it will be bigger and bigger and making good money as long as the people who write the checks like you.

blackwaterstudio · October 14, 2005

Shay I'll get back to your post in the morning

man thats a long post

Shay Stephens · October 14, 2005

Gabby McFlapper's the name
No rush, I will be on assignment Friday through Sunday :-)

jdsphotography wrote:

Shay I'll get back to your post in the morning man thats a long post

JohnR · October 14, 2005

That's some great advice there Shay! Hope you don't mind if I use it too.

blackwaterstudio · October 14, 2005

Shay, after reading your post and setting down yesterday and talking with a friend that had setup and ran his own business (paying back the $100K within the first year) he brought out alot of the same points as you did.

I'm going to try for $5K to get the equipment I need, lights, etc. I'm also going today to look at a few places to see what they offer and see what the cost of each place is going to be.

Setting up a studio

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