The photography industry is always competitive. During a recession it becomes even more so. Not only is there less demand for a photographer’s service during, a number of people who lost their jobs in other industries decide this is a business they would like to build because there are almost no barriers to entry and the startup costs are low. A photography business needs to be lean and respond effectively to compete effectively. The following are a list of ways a photographer can weather a recession.
Share large purchase items with other similarly situated photographers. Many times large purchase items such as dye- sublimation printers and software are extremely helpful when they are needed but are not needed frequently. A photographer can go in on such purchases with other photographers and share the asset. This lowers the cost for everyone involved.
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A photographer rent out his studio to other photographers. The cost of a studio is the single largest expense for most photographers (unless they have employees then employee pay will be normally be higher). During a recession there will likely be a significant amount of time in which the studio is not in use. A studio owning photographer can take advantage of this vacancy by allowing other photographers to rent the space. During a recession, many photographers give up on a studio. As a result, when a client requests one they seek someone who is willing to rent one out. Thus this can be a win/win for both the renter and rentee photographer.
In addition, a Newport Beach photographer can offer mini-sessions. These are small sessions in which two or three clients share the time of a single session. They share the cost and time. Thus they will get fewer images. Photographers can setup packages (with per print discounts) for these sessions. This is a win/win for the photographer and the client. The photographer gets to shoot three families in the time he would normally spend on one (and get three smaller orders in the same timeframe) and the clients get the product of a high end photographer.
The above three suggestions are three things a photographer can do to whether an economic recession.