In the ever-evolving world of photography, finding lucrative and sustainable income streams remains a paramount concern for professionals in the field. This excellent video features an experienced pro discussing four business traps photographers fall into and how to avoid them yourself.
Coming to you from Scott Choucino with Tin House Studio, this great video delves into various methods purported to aid photographers in making money, such as selling prints, stock photography, renting out equipment, merchandising, and assisting in digital work. Choucino shares personal experiences and insights, debunking common myths about these income streams. For instance, selling prints can be profitable, but it demands a business model centered around print sales, not just casual listings. Similarly, stock photography, often hailed as a passive income source, is criticized for its poor time-to-revenue ratio unless one specializes in this field exclusively.
Moreover, the discussion about renting out photography equipment brings to light the logistical and financial challenges involved, highlighting that significant profits are only likely for those who operate as full-fledged rental houses. Merchandising, while an appealing idea, is dismissed as a substantial income stream unless pursued with dedication and volume. The only method receiving unequivocal support from Choucino is working as an assistant or tech, praised for its straightforward earning potential without the need to alter one's primary business focus.
Choucino emphasizes the importance of specialization and commitment in any chosen avenue. The allure of these methods as easy, supplemental income streams should be carefully scrutinized. He urges photographers to view their craft as a serious business requiring strategic planning and focused effort. This critical examination serves as an invaluable guide; check out the video above for the full rundown from Choucino.
I got rid of my printer two years ago because no one ask or wants to pay for proofs anymore. It was just used for commercial work with a separate RIP and calibrated for press runs or what ever cmyk needs. That's all gone now and picky clients of the past with colors are not picky anymore now that only 10-30% of their work is going on print. Proofs were probably 30% of my income years ago, prints for odd small jobs from rgb files, probably in the 0.something %. For those I use online print houses.
Same way, I shoot a lot of cars and races but none of my gear was purchased for racing type photography. All I purchase in photo has to produce income and if I can't generate the income that I expect with it within a couple years then I just don't invest. That doesn't stop me from being published, far from it, but car publications are not worth the cost. Tech is way over evaluated but there are things where higher quality tech is totally worth investing in.
If I was new, I would seriously contemplate my potential market first and see how much an average job requires and think about how long I would want to enter a broader market before finding my niche. Wedding for example will exhaust you to high end and dropping all a sudden from it without having achieved part of your secondary goal, your up coming niche, is a terminal thing. You have done nothing, you have no skill, that's how you will be perceived in the industry. Under pricing starting day one is giving the photographer zero chance to success.
I normally agree with this guy, but his prints comments is narrow. There are more possibilities than “career path” or “tried it for two weeks and made 300 pounds.” I have been at it for about six weeks and have made some good side income and also am now giving my commercial clients a simpler way to get prints for their offices or to give as gifts to their collaborators/clients.