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The fundamentals of running a professional photography business and studio are explained in this guide to the commercial side of photography. A road map to navigating the perils and embracing the triumphs, this reference covers all the critical skills required to establish a business, design a product line, market services and products, and manage the bottom line. Topics include selecting the right insurance package, obtaining the various licenses and tax IDs, and hiring the best employees. An invaluable resource for photographers, this is a must-have manual to the mechanics of successful professional photography.
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Tucci and Usmani’s The BUSINESS of PHOTOGRAPHY Damon Tucci Rosena Usmani Amherst Media ® PUBLISHER OF PHOTOGRAPHY BOOKS Check out Amherst Media’s blogs at: http://portrait-photographer.blogspot.com/ http://weddingphotographer-amherstmedia.blogspot.com/ Copyright © 2010 by Damon Tucci and Rosena Usmani. All photos by Damon Tucci unless otherwise noted. All rights reserved. Published by: Amherst Media, Inc. P.O. Box 586 Buffalo, N.Y. 14226 Fax: 716-874-4508 www.AmherstMedia.com Publisher: Craig Alesse Senior Editor/Production Manager: Michelle Perkins Assistant Editor: Barbara A. Lynch-Johnt Editorial assistance provided by Sally Jarzab and John S. Loder. ISBN-13: 978-1-58428-997-5 Library of Congress Control Number: 2009939765 Printed in Korea. 10 9 8 7 6 5 4 3 2 1 No part of this publication may be reproduced, stored, or transmitted in any form or by any means, electronic, mechanical, photocopied, recorded or otherwise, without prior written consent from the publisher. Notice of Disclaimer: The information contained in this book is based on the author’s experience and opinions. The author and publisher will not be held liable for the use or misuse of the information in this book. CONTENTS Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 1. BUILDING A FOUNDATION . . . . . . . . . . . . . . . . . . . .9 Do It By the Book . . . . . . . . . . . . . . . . . . . . . . .9 Getting a License . . . . . . . . . . . . . . . . . . . . . .9 Getting a Sales Tax ID . . . . . . . . . . . . . . . . .11 Hire an Accountant . . . . . . . . . . . . . . . . . . . . . .11 The Financials . . . . . . . . . . . . . . . . . . . . . . . . . .11 Incorporation . . . . . . . . . . . . . . . . . . . . . . . .11 Methods of Payment . . . . . . . . . . . . . . . . . . .12 Partner Up . . . . . . . . . . . . . . . . . . . . . . . . . .12 Scott Kurkian: What Every Photographer Needs to Know About Business Finances . .13 Income Taxes . . . . . . . . . . . . . . . . . . . . . . . .13 Sales and Employment Taxes . . . . . . . . . . . .14 Financial Management . . . . . . . . . . . . . . . . .14 2. EQUIPMENT EXPENDITURES . . . . . . . . . . . . . . . .17 Essential Camera Equipment . . . . . . . . . . . . . . .17 Computers . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Networking . . . . . . . . . . . . . . . . . . . . . . . . .19 Backing Up . . . . . . . . . . . . . . . . . . . . . . . . .19 3. HOME STUDIOS AND COMMERCIAL SPACES . . . .21 My Journey . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 Inside the Studio . . . . . . . . . . . . . . . . . . . . . . . .26 Reception Desk/Seating Area . . . . . . . . . . . .26 Dressing Room . . . . . . . . . . . . . . . . . . . . . . .27 Camera Room . . . . . . . . . . . . . . . . . . . . . . .27 Presentation Area . . . . . . . . . . . . . . . . . . . . .27 Ron Nichols: The Presentation Room . . . . . . . .28 Projectors and Screens . . . . . . . . . . . . . . . . .28 TV Presentations . . . . . . . . . . . . . . . . . . . . .28 Software . . . . . . . . . . . . . . . . . . . . . . . . . . . .28 Studio Snapshot: Brian Adams Photographics . .30 Studio Snapsho