Part of the content of our photography courses picks up and includes information and data we get from our Barrett & Coe studios. Anyone thinking of starting a professional photography business wants to know how much it is possible to make.
Here are some interesting figures
1. On a £100 sale to a customer the maximum you should be paying to your laboratory, framer or album supplier should be £20. This gives a gross profit of 80%.
2. 40% of that sale will go in overheads ie. rent, telephone, car etc.
3. The remaining £40 should be profit for you.
4. A large part of the overhead cost will be marketing/advertising which should be approximately £20 for every £100 sale.
One anomaly of our tax system which greatly penalises small businesses is the vat threshold rate of £79,000. Do not register for vat before you have to. If you are going to go over it you need to pass it by at least £25,000 to make it cost effective.
Barrett & Coe photography training is not just about learning to take great images but also learning the key ingredients for building a successful photography business.
Latest posts by Andrew Coe (see all)
- How to use social media to grow your photography business - December 3, 2014
- Barrett & Coe Portrait Excellence October 2014 - December 2, 2014
- Baby of the Month September 2014 - November 28, 2014