Starting Your Business

         Creating a formal business can be one of the most daunting parts of this process. We’re talking sole proprietorships, partnerships, LLCs, S-Corps, etc. Unfortunately, with differing regulations and legislation around the country, the actual logistics of forming a business entity will have to be the most vague portion of this guide. I do, however, have a great list of tips to make sure that you do it correctly and make the best decisions for you.

         Do the research first. Research the different types of business structures that you can start and decide which best fits what you are trying to do. When I began shooting professionally, I started as a sole proprietor which is incredibly simple to do but also relatively risky. The drawbacks of this are that you can’t use any name other than your own legal name and that the business offers no protection to your personal assets. Should you experience any legal trouble, you can be completely personally liable. It can be a fantastic idea to form a business entity that offers separation between you, personally, and the business.

         Consult with your local small business development center. The SBDC is an incredible free resource that you can use to help you navigate the waters of forming your business. They can offer you advice and guidance in getting up and running in your local area. In most cases they can even offer shared office spaces should you need a place to meet clients or conference rooms to hold meetings. In the least they can be a great resource just to double check your work to make sure that you’re not making any huge mistakes.

         Once you’ve decided on your business structure, make a checklist of everything that you have to do to make it happen. Sometimes the SBDC even has something like this as an existing resource. Having a checklist will make the task seem much less intimidating and give you clearly laid out steps to chip away at. If you’re starting a more complicated business structure like an LLC, it might be easiest to consult a service like Legal Zoom to do the work for you for a small fee.

         Bank Account

         Depending on the business structure you choose, you’ll likely be required to open a business bank account in order to deposit checks made out to your business name or as required by some states to register to collect sales tax. Either way, it is a good idea to keep your personal and business finances separate.

         Insurance

         Business insurance policies, you’ll need to get one. Most major venues require all of the vendors hired by the couple to send over proof of insurance. Luckily for photographers it’s not all that expensive.

         I recommend finding a good insurance agent to do the price shopping for you and make recommendations on coverage for your business in your region. Here are the important items that you’ll want to inquire about. Venues typically require one million dollars in liability coverage at a minimum. It’s a good idea to cover your equipment if anything were to be lost, stolen, or damaged. You never know when something might accidentally come crashing to the ground or... swiped when you’re not looking. A good insurance policy can also cover your legal costs in the event of a lawsuit.

         Contracts

         Your contract is an incredibly important document. When the contract is signed, you’ve closed the deal. That being said, both signing parties of the contract will be bound by its terms so it needs to very accurately outline your services, set expectations, and leave no room for misinterpretation.

         There are actually many good sources on the internet for purchasing wedding photography contracts but you will most likely have to modify them to conform to your unique business. The items that I feel should be specifically called out are: the wedding details (dates, times, etc.), the photographer’s obligations (duration of services, etc.), copyright structure (you hold the original creator’s copyright privileges and license the delivered photos to the couple for print, social media, distribution to family, etc.), meal accommodations (if you want to be fed at every wedding, it’s a good idea to put it right in the contract), your policy on what happens if you are sick or otherwise cannot attend the wedding, the agreed on pricing structure including deposit amount and payment schedule. Finally, your refund policy, should something cause a cancellation. My thought is, if there is a certain way you want things to work, never leave it up to fate and hope that it will happen. Always get it in writing.

         Unfortunate circumstances early in my business shaped my preferred method for payment scheduling and I designed it to ensure that I would never get burned again. Upon singing the contract, collect the non-refundable deposit amount. That money reserves you, the photographer, for the couple’s day. If they cancel, the deposit is non-refundable so you keep it unless you are able to re-book the day. Technically according to your contract you don’t have to refund the deposit in any circumstance of the couple causing a cancellation, but it’s good business to be kind when you have the ability to. The remainder of the owed amount is paid on the day of the wedding. This removes you from ever having to trust that the couple will pay you after you’ve done all of the work. I have done payments like this for years and I have never been stiffed on a bill because of it.

         Finally, creating your contracts as PDFs with editable fields in something like Adobe Acrobat is a great idea. With this you can print physical copies to bring with you to client meetings or, better yet, you can utilize Adobe Sign to collect digital signatures from all parties and disburse final copies to all signing parties as well. You have access to this tool if you have a Creative Cloud subscription.

         Packages

         This is a topic of great dispute among the wedding photography community. Almost every one I know in the game does it different and it has the potential to get incredibly complicated. I like to keep things as simple as possible, it keeps me sane and it’s much easier for the couple to digest when you’re explaining their options. I like to base everything off of how long I will be at the wedding. Being from a commercial video production background, I’m used to billing out services in terms of “half-day“ and “full-day“ rates. A half day is up to 5 hours of work and is billed at a slightly higher rate than a full day. A full day, for me, is up to 10 hours. The ultimate goal is to book everyone for the full day, however, sometimes you will get a great couple who loves your work but just can’t afford to book you for the full day. Having an alternate option for them is great to have. An example of pricing on packages like this would look like this: Say you book a full day (10 hours) for $3000.00, your half day (5 hours) rate would be around $2000.00. It’s enough to allow your services to be obtainable to couples on a slightly lower budget but it also encourages most to choose the full day option because it is a better value.

         The only other changing variable associated with this package structure is the number of edited photos you deliver after the wedding. I would range from about 250-450 images depending on the amount of time I am booked for.

         Everything else stays the same. You always show up with a second photographer, you always bring your best equipment, you always edit the photos before delivering them. There is no complicated “print credit“ where the couple gets an alloted amount of money towards prints. There isn’t a confusing package with a variable number of pages of a photo book. You might be saying, “but wait... isn’t there potential profit being left on the table by not including those items?” You are correct, there is an opportunity to make additional money from each wedding with prints and books but it is MUCH easier. That tip is coming up soon.