Recently we were asked this important question via email, and while we wish we could answer EVERY single important question that we receive via email, the fact is that we just get way too many to be able to handle the volume of ?s all by ourselves. But this is a question we get quite often, so on this lovely afternoon I (Marissa) was thrilled that I would have time to respond. Then K suggested that I should “write something that can go on the next newsletter”… So here goes…..
Question: “Hello Ladies, As a former Paris student (our Paris Boudoir Workshop), I am hoping you can offer me some business advice. Currently, my “studio” is a spare bedroom with a walk-in closet and ensuite bathroom with in my home. Lately I’ve been finding the space a bit too small for many of the poses I’d like to do and my set variations are limited. I’d love to branch out into a separate studio. My questions to you is: at what point were you ready to move out of the beginning garage/home setting and into a real studio? What were the financial indicators or other measures you used to decide it was a smart move? Any advice you can offer me will be so greatly appreciated. Warmly, Tricia B”
Wonderful question Tricia B! We are honored that you would ask us for our advice!
First, I want to start with why we moved…. our goal was not to be a boutique studio, it wasn’t to do just a few shoots a week for a very high price. That is a fantastic plan, it just wasn’t ours. If it had been our plan we would have probably stayed in our home studio, keeping our week simple and on a great routine, selling only big boudoir packages that already included an album, taking weekends off, you know, easy street. If we didn’t have plans to grow beyond a boutique studio, then our thought would have been, if we don’t need to sell more than a few packages a week to reach our goal, then why waste time photographing people unless we knew for sure they were going to purchase an album (or whatever our ultimate product was)? And why spend moolah and stress of maintaining a retail space, or the crazy overhead of a commercial property? If we were running a boutique studio we would have ONLY ever moved into our large studio space if a) it justified a huge price increase b) if working from home or a hotel was significantly affecting the quality of our personal life or c) working from home was some how seriously limiting the volume of shoots we needed or the level we wanted to be at with our business.
I understand what it’s like to really, really want a dedicated photography space outside the home (or whatever situation you may have). To have our own world where we can maximize our creative genius and wow our clients. An artist’s haven, a selling space, and reflection of you. And even though it’s my least fave reason, to impress other photographers. To rise above competition. We get it.
But the reality is that not one of these reasons, (or even all of them combined!) are good enough reasons to move into a larger studio space. At the end-uh-tha-day we are biz people, and we refuse to be struggling artists. We aren’t solely in this photography industry as an expensive hobby, despite what our friends and fam may initially think. You can only use the excuse “it’s for write offs” for so long. If you want to move into a new location, your sole decision will have to be that the increase in PROFIT will outweigh the stress and burden it will put on you. Because – believe me – by moving into a larger space, it WILL put a burden on you, your family, and your cat.
When we did decide to make the move from my parents’ garage to renting a house and having a larger at home studio it was because the location, the volume and the long-term plan supported it. When we moved into the big ol’ studio we are at right now, it was because our biz model supported it and we had saved up enough cash, and had a large enough referral base that we knew our risk of falling apart within a few months was minimal. We even had plenty of shoots on the calendar already. Whew.
In reveiw of my jumbled thoughts above… maybe ask yourselves these questions…
1. Why do I want to move into a larger space? Can I make my existing location work for me by maybe giving it a second look & re-working/re-designing some things? Or spending some cash on improvements, ie, a private entrance? Better window light? Studio on a buttery track system?
2. Instead of my own commercial/retail studio, is there a “half-step” I can make? Maybe share a studio with another photographer and create an organized way to easily swap out canvases and signage on display, depending on a pre-arranged schedule and whose day of the weeks it is?
3. Do I have enough in my business savings account that I can cover a 3-6 months’ expenses if things don’t go according to plan? (Rent and other operating costs)?
4. Have I created a realistic and detailed business model where I can support the amount of shoots I will need to do to cover expenses and pay yourself? (PS… if you do not know the answers to these things, we cover all of this at our Boudoir Workshops, and we’d love to have you come join us so that we can help take your boudoir business to where it needs to be!)
5. What unforeseen costs are there, related to moving into a larger space? Maybe biz insurance will increase? Maybe you have to get a commercial internet account instead of residential one (ouch, true story!)? Will you need a security system? Will theft be more likely (not good for a boudoir biz, with those sensitive pics!)? Will someone steal your welcome mat all the time because you like to buy cute ones (again, true story!)? Will your AC/heating bill be out of control because of high ceilings (true story!)?
6. Are you ready to work your tush off until you get the business up and running smoothly? Is your hubby willing to work with you? Cuz his “honey do list” will be a “honey I hope you still love me even though I have an insane passion for photography and business” list. :)
7. Are you mostly (nobody is totally) confident that the money that may increase – so that it will be worth your time, heart, worry-wort nights, etc? And if money isn’t the reason, will the satisfaction that comes from operating your own space be worth it?
We say all this to be realistic, to say that dreams can be realized, but not to leave you with simply a feel good, “just go for it” speech. We aren’t here to sell you on boudoir, we are here to help you.
K and I believe in making ‘shtuff’ happen. And definitely that you should pursue the unique dream God has blessed you with. But we talk to a lot of photographers whose business has overrun their lives. I know because I have been there at times, I have felt defeated for a season, I have neglected my hubby and family to make sure that I fought to get our biz to where it is today. At times I felt I pinned myself in that place by the decisions I made. Our dream was to have an epic team of photographers who give all of Southern California “The Supermodel Experience” that is both affordable to them, and highly profitable to us. It is a very rare/unique biz plan in the photog world, but we are there, we did it. We got our biz to a place that we envisioned, but there was a certain sacrifice that came with that. What sacrifices are you willing to make?
I am going to leave with a very fair and balanced thought…..boutique at home studios are the most profitable photog business model statistically, they have less stress attached, and they are most profitable when overhead is low, and simple scenarios are maximized. With that said, when there is dream in your heart, a goal you see yourself accomplishing, a place you want to be, and a confidence in yourself, a faith in God’s grace that completes a good work, then nothing can stop you. We thank Him every single day that we are examples of just that.
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