How to Calculate the Cost of Running a Dog Photography Business
As a professional dog photographer, it's not uncommon for people to ask me about the cost of my camera. While the camera is undoubtedly an essential investment, there are many other expenses that come with this profession.
To be a successful pet photographer, you'll need to invest in time, equipment, and education, among other things. Let's take a closer look at the cost breakdown of being a dog photographer.
Equipment
Equipment is undoubtedly the most apparent investment for a pet photographer. In addition to having at least one professional camera, you'll also need a backup camera body, memory cards, and backup batteries. Depending on your shooting style, you'll need at least one professional lens.
If you plan to shoot studio images or use off-camera flash, add lighting equipment to your wish list.
We can estimate those costs to be around $15,000 and you'll want to replace your camera bodies about every 5 years.
To view and edit your images, you'll need a computer that is up to date with the latest technology. If you plan to travel out of state for sessions, workshops, or events, you'll also need a laptop.
For image storage, you'll need two external hard drive that mirrors each other for your desktop, and two portable drives to bring with you when you travel.
When you buy a new camera, you'll find it's most likely time to update your computer and laptop as well. Expect to spend around $5,000 every 5 years on a computer, laptop, and hard drives.
Assuming you stick with that one lens every 5 years, you're at 20,000, or $4,000 per year.
Accessories
Regarding camera bags, I find it handy to have a couple of different sized backpacks, a rolling bag for my most used equipment, and a couple of pelican boxes for less used items to be handy.
You'll need noisemakers, treats, leashes, etc.
I'm not going to price this category because the range is completely up to you.
Software
Software is another expense to consider to run your business:
- Photo editing software if you plan to edit your own images
- Online cloud backup for your photos
- Client management system
- If your client management system doesn't handle scheduling, contracts, forms or invoicing/accounting, you'll need software for those
- Social media content management
- Graphic creation tools
- Email marketing
Additionally, website hosting, domain name, gallery delivery, and domain email.
This adds up to about $150 per month.
Education
Education is crucial to improve your skills and personal growth as a photographer. You'll need education not only in photography but also in business, and dog behavior. This can cost anywhere from $2,000 to $5,000 per year, depending on your level of expertise.
If you lack any formal dog training experience, aside from being a lifelong dog owner, it is imperative that you familiarize yourself with the principles of dog behavior. This is not something that can be overlooked. Your ability to ensure your dog's comfort, happiness, and safety during the photography session depends on your understanding of these principles. Furthermore, you must be able to recognize the warning signs of distress and potential problems. This cannot be emphasized enough.
I'll average this category at $3500 per year.
Miscellaneous
Finally, miscellaneous expenses such as liability insurance, equipment insurance, licenses, memberships, accounting, and legal fees can cost around $1,500 per year.
How much does your business need to bring in?
When you add up all of these expenses, you're looking at a cost of around $900.00 per month. Of course, this cost will vary depending on your specific needs and preferences.
Now that we know your bare minimum operating expenses, what are your monthly living expenses?
How do you want to serve your clients?
Do you prefer to spend ample time getting to know each client and their furry companion, selecting a personalized location, meticulously editing each image to perfection, and crafting beautiful wall art and albums for them to cherish? If so, be prepared to invest roughly 10-15 hours per client. You'll need to determine how many clients you can take on per month, taking into account the need to balance this with running your business.
Alternatively, you could opt for a more high-volume business model and photograph multiple dogs a day, scheduling back-to-back sessions at the same location, and delivering images with minimal editing time. In this model, each client may only require around 2 hours of your time
Regardless of your preferred approach, it is crucial to calculate how many clients you can realistically accommodate each month. Factor in your living expenses and basic operational costs, then divide this by your maximum client capacity. With this information, you can establish an appropriate pricing strategy that allows you to maintain profitability.
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