Getting Your Photography Business off the Ground: When to Save and When to Splurge

Jeff Picoult

By Jeff Picoult

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Equipments of a photographer

While it might seem like everyone with an iPhone wants to claim their status as a photography lover these days, pursuing a photography career where you own your own business is different. It’s a great way to flex your creativity, show off your solid portfolio, and be considered a professional in the industry. 

Having your own business can help you stand out from your competition. Plus, it allows you to make your own decisions. That includes how much you want to charge if you want to focus on a specific niche, and who you want to work with. 

But, as with any other business, there are financial choices to make. When you’re just starting and want to get your business off the ground, you’ll undoubtedly have to decide where you should save and where you should splurge. Do you need new equipment right now, or would that money be better used elsewhere? How can you decide when to make upgrades? When should you slow down or sell? 

On top of everything else it takes to run a successful photography business, those thoughts can be overwhelming. 

So, let’s cover some of the save versus splurge basics that can help you make smarter choices as you start your photography business. 

Who Can Splurge and Who Can Save

Photographer and client at office

Freelance photographers all have different needs, depending on how they approach their careers. For full-time pros, photography is more than just a passion — it’s their livelihood. 

They’re likely juggling a lot, from managing clients and finances to making sure they have the latest gear and editing software. A solid website, regular marketing efforts, and a reliable client base are crucial for keeping their business thriving. These photographers often have to think about things like taxes, insurance, and ongoing professional development to stay ahead in the competitive world of photography.

Then there are photographers who may be post-retirement, looking to make money from their hobby, or just starting out as a side gig. While they still have to have a business plan, a brand, and a registered website, these photographers may take a more laid-back approach to their work, focusing on projects that bring them joy rather than relying on it as a full-time income. They might not need to spend as much on high-end gear or marketing since photography is more of a creative outlet than a primary income stream. These photographers tend to keep things simple, focusing on occasional shoots or personal projects. 

Budgeting wisely is still important, but it’s about finding the right balance between their photography hobby and other life commitments — without the pressure of making it their main source of income.

Save: Studio Space

Remote working has become more popular than ever in recent years – especially thanks to the COVID-19 pandemic. So, more people are used to working at home, in parks, in coffee shops, or wherever they feel comfortable and can find a decent internet connection. 


The ideal space for photographers has changed, too. 

Many professional photographers used to rely on studio space for their clients. Today, however, you don’t have to have a professional studio to capture great portraits. So many people are opting to take pictures outside or in other unique settings. Even if you do want to take headshots or you need a designated space for things like product photography, no rule says you have to rent out a building or studio space. 

Why? Because you can just as easily use your own home as a studio. 

Having a space in your home that is solely dedicated to your business will help you stay organized. Even if your space is small, don’t be afraid to get creative when it comes to your office space. Try unique locations like: 

  • A spacious closet
  • A hallway
  • An entryway office
  • An office under the staircase

Having your own office space will make it easier to keep track of clients, send invoices, keep a calendar, and do some creative thinking. You can also set up a makeshift studio with nothing more than some professional lighting and an inexpensive backdrop. While a separate studio space outside your home might be a “someday” goal, don’t feel like your business will suffer now because you don’t have one. This is an area where you can save money without compromising your professionalism. 

Splurge: Editing Gear

You don’t need fancy equipment to be a great photographer (and we’ll talk more about that in a bit). What you do need is an imagination, a creative eye, and the ability to bring photos to life. That’s done through composition, the right lighting, and great editing. 

If there’s one thing you should be comfortable investing in as you start your business, it’s a solid computer and whatever editing software tools you prefer. Some of the most popular software options include: 

  • Adobe Lightroom
  • Skylum Luminar
  • Adobe Photoshop
  • DxO PhotoLab 4
  • ON1 Photo RAW

No matter what type of camera or extra equipment you have, you can bring photos to life while editing and save money elsewhere. 

A reliable computer will also help you with your marketing efforts (and it’s another way to save money). You can build your quality website without having to hire someone else, you can focus on things like SEO and social media to grow your business, and you can communicate with clients quickly and easily, building up your reputation and a steady customer base. 

There aren’t many places where splurging is encouraged when you’re starting a new business. But, investing in the right equipment that will be at the very core of what you’re doing is one area where spending and feeling good about what you’re doing is okay. 

Splurge: Marketing

Marketing as a freelance photographer doesn’t have to break the bank—it’s all about being strategic and making the most of the tools you already have. Social media is one of the most cost-effective ways to showcase your work and reach new clients. Platforms like Instagram, Facebook, and Pinterest are perfect for photographers since they let you share your photos with a wide audience. 

When it comes to marketing on a budget, promotional products are a great way to leave a lasting impression without overspending. Small items like custom business cards, branded USB drives, or even prints of your best work are all budget-friendly options that can make a big impact. These promotional products are tangible reminders of your brand that clients can keep, helping them remember you long after an initial meeting. Investing in a few key promotional products doesn’t need to be expensive, but they can be a powerful tool for building recognition and getting your name out there — without stretching your budget too thin.

Save: A New Camera

You might think that the latest camera gear will get you better results. And, to a degree, that might be true. But don’t let yourself fall into that trap. Too many photographers pine away for better cameras because they think that will make them reach the next level. 

In reality, that just isn’t true. Whether you’re looking at DSLR or mirrorless options, cameras can cost hundreds of dollars, but you know they can go well over that. And, if you’re already thinking you need the best of the best, chances are you’re looking at something expensive. 

Think of other things you can do with that money that could make you a better photographer and have a stronger impact on your photos. Instead of splurging on a new camera, focus on smaller accessories that will improve your pictures and make your sessions easier, including: 

  • A top-shelf camera bag;
  • A fast memory card;
  • A few great lenses like wide-angle, macro, and teleconverters.

Focusing on your accessories instead of an expensive camera can bump up the quality of your photos without breaking the bank. It can also keep you from making big purchases you can’t afford and potentially going into credit card debt or starting bad credit habits. So, you can start to sock away money — bit by bit — to eventually get the camera you want.

Knowing when to save and when to splurge can make a big difference in getting your photography business off the ground.  Keep these suggestions in mind as you start to focus on your business, and you’ll feel more comfortable with your financial situation from the start.


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Jeff Picoult

Jeff Picoult

Photographer

Jeff Picoult is a seasoned photographer, who blends artistry and innovation. With a humble approach, he captures moments resonating with depth and emotion, from nature's beauty to the energy of sports.

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