Photography Business Plan

If you are starting a photography company and seeking investment, it is likely that you will be in need of a business plan. A custom business plan for a photography company depends upon the business model. Some photographers have a studio, whereas others perform on-site photography for special events, or acquire agreements to photograph major entertainment events and sell the license. Pro Business Plans has worked with many photography companies; this article presents what is included in a photography business plan and how it is structured

The business model section of a photography business plan provides a detailed analysis of what your company does and how it intends to outperform its competitors. This may be done by demonstrating a superior product, or domination of a niche such as a geography or specific service. For instance, a photographer that specializes in weddings may create more targeted marketing materials, a portfolio, and a broader network of affiliate relationships. The business model should be consolidated into a very concise paragraph, but elaborated in detail in subsequent sections.

The financial forecast for a photography business plan will generally include three to five years of forward looking projections. This includes a profit & loss statement balance sheet, income statement, and cash flow forecasts. The financial model will not only help to communicate your photography business to external investors, but also help you to more effectively balance your expense structure and determine and optimal pricing strategy.