FAQ: Photographers Business Plan

I write a business plan with my husband every year for my business. I usually write it shortly before my busy booking season starts in October so it’s fresh in my mind.

Then usually the week before Christmas or the week after I sit down with my husband and review it again. Make sure it covers everything I want it to cover, and that nothing needs to be changed.

There is no right or wrong way to write a business plan, this is what I’ve been using for the past few years and it works for me! But add in whatever you feel is missing, or remove what doesn’t work for you! There’s no rules at all! It’s YOUR business plan!

Be sure to share it with someone you trust, and someone close to you who can hold you accountable and review it every few months with you! It also helps a TON to have someone business minded in your life to walk you through it. My husband is a financial advisor and he has a background in business and he guided me HUGE through the process!!

** To make it easier to read, I’ve added in some random goals, and numbers just to help it make more sense. Yours may be longer as well…mine sure is! haha. I just wanted to make it concise and easy to read. Again NO RULES!**

Sample Business Plan

Main Goals

– Upgrade equipment

– Attend one conference

– Start coaching program for photographers

– Book 15 weddings

Education

– Find a mentor.

– Read 3 business books

Target Market

– Focus on weddings and engagements

Strengths

– Writing, public speaking, editing, motivated

Weaknesses

– shy at weddings, marketing, email answering

My Main Roles

– photograph, marketing myself, social media, emailing, blogging, PASS, communication with clients

Outsource

– child care, editing, mentoring

FINANCIAL GOALS

* all numbers are random and made up! Do not use them as a guideline! I just put them in for a visual *

Income 2012 – $26,000 – 6 weddings, 30 portrait sessions

Income 2013 – $48,000 – 10 weddings, 20 portrait sessions

Minimum 2014 Target 2014 Ideal 2014

$50,000 $60,000 $70,000

10 weddings, 20 portrait sessions 14 weddings, 22 portrait sessions 15 weddings, 25 portrait sessions

Minimum = $4000/month

Target = $5,000/month

Ideal = $6,000/month

Expenses

– Equipment – $1800

Purchase Options

– Canon 50mm 1.2 – $1600 (priority)

– Canon 24mm 1.4 – $1750 (if ideal goal met)

– Client Services – PASS – $125 per bride (includes PASS fees and client gifts)

– Outsourcing – Editing – $200/wedding

– Childcare – $2200/year

– Mentoring – $300/month

– Website – $600/year

– Cell Phone – $800/year

– Gas – $1200/year

TOTAL EXPENSES (based on Target Income) – $14750

Marketing Goals 2014

– Increase Referrals – add client gifts, start same day slideshows

– Facebook – Update minimum 4x per week, blog minimum 2x per week, tag clients in all photos

– Venues – Get all venues PASS galleries after weddings, reach out to planners

– Miscellaneous – Update business cards, make pricing pdf, make contract available online

Timeline

*Here is where you divide your goals in a timeline to make it more manageable and to avoid getting overwhelmed with your goals. Remember to keep in mind busy seasons!

January – April (make heavier here as usually not busy season!)

May – October (lighter as usually busy season!)

November – December (end of year things!)

Goals for 2014

At this point in my plan, I write my goals, and focuses for the year. For example one of mine is to start doing family meetings at home. Where my husband, kids and I sit in the living room every Sunday night and talk about how the previous week went, and discuss the upcoming week and our schedule.

Another is to “get uncomfortable” at weddings. Go outside my comfort zone and push myself to be more social and meet new people!

And that about does it! Again if you have ANY questions don’t hesitate at all to reach out!! Even if it’s just to share your goals! I love hearing what others are inspired to within their own businesses and sometimes it ends up we can help each other out! :)