Opening my own photography studio was one of the biggest game changers for my newborn photos business. Many photographers start out photographing either outdoors only, in their clients homes, or even creating a studio space in their own home. If you don’t know anything about my own business history, I started shooting in my living room before moving to a guest room (which at the time, I thought was SO amazing!) to finally getting a commercial studio space.
I feel so much more professional in my studio, and it helps that people seeing my personal toiletries in the bathroom and I don’t have to clean up after my kids before clients come. It is the biggest financial investment I make every year in my business, but in my opinion, its completely necessary. I hope to share some resources for those looking to open their own photography studio spaces.
Be super choosy about your location and don’t settle
I actually looked at studio spaces for years before I finally pulled the trigger. As a newborn photographer, there were a few things that were must haves for me, especially after years of having clients come to my home for their sessions. I needed it to be private, with its own entrance. I needed a bathroom. I needed lots of windows, ideally floor to ceiling, and a big wall for my bed set up. I looked at many places that I could make work, but I’m so glad that I waited until I found the right spot. I’ve been at my current location for over 3 years with no plans to leave.
I would recommend making a list of all the “must haves” for your studio space, and make sure that whatever you are looking at checks off all the boxes. If you are comfortable shooting where you are currently, whether its in clients homes, your own home, or outdoors, it helps not to feel like you HAVE to get into something right away. Most commercial leases are 2-3 years so you really want to be sure about the space before you commit.
Consider studio light vs natural light
I used studio lighting for a long time, specifically when I did more posed newborns, but since moving to more lifestyle posing with my babies, it was important to me to start using natural light, mostly because I wanted the windows to be one of my backgrounds.
Set a budget and stick to it
Once you find your perfect spot, it can be easy to go a little shopping crazy, and go overboard with spending. Everything you buy is money coming out of your pocket, so it helps to set a budget, and only purchase items that you will actually use. Again, I recommend making a list and actually adding up how much it will all cost when you are finished furnishing the space.
Some obvious things to consider are shooting set ups, props, and a client closet. In addition, you might also want to create a client sitting area for your clients to put their stuff down. Occasionally grandparents will attend a session and its nice for them to have a place to sit that isn’t in the way of what we’re doing. Do you want to have snacks and refreshments on hand? Toys for toddlers? Cleaning supplies, stocked bathroom, a desk for editing? Not all required, but all things to consider.
In my business, I don’t spend thousands of dollars every year on my client closet or buy expensive items that I might not use very often. My main focus when purchasing props or items for my sets is on creating VARIETY with backdrops to maximize the number of images that a client will purchase, and therefore increasing profit. But I did have to spend a lot of money when I first set up the studio to furnish it (almost $10k.) One thing I did was I tried to purchase furniture and decor that I would use in my own home, so that in the future I wouldn’t need to just get rid of everything if I close the studio.
Think about the cost from a tax deductible perspective
OK this one is a little confusing, but its important. Opening a studio and paying rent is a big expense. BUT that business expense is of course tax deductible. When you are comparing that spending that money, verses not spending that money, remember that the profit you would be taking home would be taxed. Let me explain that a little more.
Say you make $100,000 in profit for the year. Let’s say you pay 20% in federal tax and 5% in state tax. That means that you take home $75,000. Now let’s say you open a studio and your rent is $2,000/month. You are now spending $24,000 per year, so you might think your new take home is $51,000, but this deducted PRE-TAX. So your profit minus the deduction is $76,000 and your take home after 25% taxes on 76k is $57,000.
So because of the tax benefit, its actually costing you $18,000, not $24,000. Whatever the numbers are, this is an important figure to calculate and consider when you are contemplating the cost of such a big expense.
Consider sharing the cost with a studio partner
I have been super lucky to have a studio partner to share the cost of rent. Personally, I think its key to find someone who has a different business focus, but do whatever works for you! I had one studio partner who worked with athletic shoe brands and would have models in, photographing their feet. My current studio partner does headshots at the studio. We aren’t competing, so we can collaborate on business and marketing strategies, split the studio time-wise, and most importantly, split the expense.
Final thoughts on opening your own photography studio
Opening your own photography studio is definitely a game changer for your business, but it is not a small financial decision. My biggest piece of advice is just to make sure that you are prepared for the expense, and that your business can handle it. If you are at this point in your business, then I wish you all the luck in opening your own photography studio!
