When you have a firm grasp on Photography, why not open up a business in Texas? Many Texas photographers have started their businesses which now are earning a lot. Perhaps, If you are unsure about how to start a photography business in Texas, we have got you covered.
You don’t need fancy commercial space to run a photography business. Only a good set of camera gear and your Photography can let you go a long way.
Even so, you could start your journey as a freelance photographer and register it as a business. It gets a lot easier when you are familiar with the process.
Why Start a Photography Business?
Starting in the photography business is indeed a lucrative option to go forward. You only need minimal equipment and some core skills to let you get started. Apart from that, it provides you with complete financial freedom as Photography is getting expensive in the coming days in Texas.
Most arguably, it lets you do freelance Photography in which you work from remote places. Like, you could manage the business on your terms and schedule. Perhaps, no more 9-5 hassle like you would have to go through in typical day jobs. Running a business might seem complex, but it gets easier with time.
Simplified Version of How To Start A Photography Business In Texas
After hours of analysis on the process of photography business starting in Texas, we have compiled the below process. It’s a lot more straightforward than you might think on paper. Once you go through it, it’s a lot easier to get into.
Stick Upon A Specific Photography Niche
At first, you need to target a specific photography niche. For example, photography niches could be a headshot, weddings, portraits, landscape wildlife, etc. After that, you have plenty of options to grab. You don’t have to stick to one niche forever if it doesn’t suit you in the long run.
You must start creating a plan when you are all set to pursue a specific niche. These plans will help you go forward with your business. For example, when you are a portrait photographer, your plans should target the people who might need your service.
Work On Business Plan and Structure
Right now, you have to start crafting your business plan. Within a typical business plan, you will get into creating competitor analysis, financing, creating shorter briefs, and others. This helps to shape your business plan straight from the beginning.
As you create a photography business, you must determine its structure. Some of the structures are sole proprietorship, partnership, corporation, and others. We will explain it later in the article. Hence it would provide you a little bit clearer idea on it.
Register Business Name
Once you determine your business plan and structure, it’s time to give it a name. The name could be anything, a unique word; it could be your name. Even when you can’t make up a unique name, don’t be shy to use your name. Countless famous businesses have done it before, like, Ford.
While choosing the business name, make sure the name is available to take on. Other than that, the name must be easy to pronounce and suitable for your customers. Regarding the cost, you need $40 to file a business name in Texas. Be sure you have enough money for related tasks.
Get Texas Business License
Right now, you need to get a business license for your photography business. Depending on the Texas state rules, you also need to get permits for your photography business. The rules change depending on the Texas municipalities. You could check out your nearest municipalities for further details.
In some cases, you might not need a business license at all. Perhaps, you could find out all the relevant information on the Texas municipalities directory website. Doing so will let you unveil all of the relevant info like how to get photography permits and so on. Then you could schedule a time and manage funds accordingly.
Create a Banking Account and Go for Taxes
Well, it’s one of the last and obvious steps when you are setting up a photography business. You need a business bank account to manage your transactions and taxes. Having a mainstream banking account can make your working process a lot simpler.
In addition, managing your payment would be a lot more secure. For example, your photography clients can send you payment via bank transfer. Even though other methods are great, banking accounts play an important role in improving trust.
Go for Business Insurance (Optional)
Even though it’s optional for most photographers, having inspiration gives you a huge advantage. You could have business insurance to be on the safe side. Hence, getting insurance is far easier than most of us thought of. You only have to contact the nearest insurance, broker.
Explanation On Business Structure And What Choose
Let’s explain some of the common business structures for a photography business. Then, it would help you to better decide on which one to choose.
- Sole Proprietorship: Generally, one person owns the business, and the income gets taxed.
- Partnership: In such a business structure, two or more persons own the business as partners.
- Limited Liability Company: The shareholders are the technical owner of the business.
Costs of Creating a Photography Business in Texas
You may need around $300 to start your photography business. Apart from the legal cost, you may need to speed up on equipment such as the camera and lens. If it’s out of your reach, lease it from someone. It would let you get started.
Hence, when you are hiring people, you need to provide them with pay. In addition, you could have to rent a space if you want a permanent office. A co-working space can do the magic for you when the office space is quite expensive.
Things To Remember When Starting Photography Business
Below are some points you need to remember when starting a photography business.
- Have An Attorney On Hand: While running a photography business, you may encounter legal difficulties. Perhaps, always stay in touch with an attorney who can help you out.
- Hire Bookkeepers: With time, bookkeeping can get complicated. This is why be sure to have a professional bookkeeper take care of your financial status.
- Open Up Social Media Profiles: Creating social profiles and maintaining healthy relationships can help you get ahead of the competition. Be sure to utilize it.
- Try To Spend A Bit On Marketing: It’s a great idea to spend your find a bit on marketing campaigns. In fact, digital marketing can be the best option for you to hunt for new clients for the photography business.
Let’s have a look at the most common questions.
Should I Have a Legal Team As Mandatory?
You don’t have to have any legal team when you are just starting your photography business. But as your business grows, you might find some legal issues to deal with, which is why it’s always better to keep in contact with legal people hence hiring them later when your business grows big.
How Much A Photography Business Owners Make in Texas?
Let’s talk about home-based photography business gross annual earnings. It’s around $129,394 when put together. Hence these come from people who are running their businesses from home or working on remote projects.
Is It Viable To Start A Photography Business From Home?
You could run a viable photography business right from your home. Moreover, you could work on freelance projects, leading to long-term benefits. Hence, with days it’s becoming famous among photographers and business owners.
Learning the core concept of how to start a photography business in Texas will help you a lot. As a fellow Texas resident, I can guarantee it’s not that hard. We have countless colleagues and friends making a good living out of their photography business.
Going into the photography business might seem a bit overwhelming, but it’s way simpler. The best part about it is that the revenue is always on the positive mark and provides a hefty motivation. In addition, freelance projects are always soothing and let you cherish the creative flow.