For any business, saving money through systematic and well planned out operations is important. It can either be a result of proper planning or arriving at ways and means to do so through trial and error methods. This is also true for your photography studio and how you achieve savings depends on the routes you take to do so. Further, by incorporating ways to achieve higher levels of savings on operational expenses you are increasing your ROI on investments made in your business. This savings can be put away for a rainy day or to fund future expansion plans or upgrade gear and equipment.
Here are a few tips that will help you achieve your objectives to save more without compromising on client satisfaction or the quality of your photography.
- Lower Expenses – This is easier said than done. First estimate the expenses against your earnings. Are the rates you are charging covering your expenses? Its time then to meticulously track every expense and evaluate if that is necessary at all. Finally, verify if whether all the business purchases you are making are really required. Do not stock consumables at high levels. Estimate about two weeks inventories of films, chemicals and other photography plates and make your purchases according to that. Unless you are away on a photo shoot for long, this should help in cutting down expenses.
- Share studio space – Unless you have a very flourishing business that requires a lot of floor space and a number of photo shoot floors and developing rooms, you will do well to share studio space. This may mean temporarily partitioning your existing space and sharing with any other business. This is ideal for small photo studio owners and you get help in maintaining the area too.
- Introduce advanced tools – This will lower the costs substantially. Have software installed on your laptop that will eliminate the necessity for having developing rooms, complete editing and air brushing can be made from this point only. You can also introduce graphics into photography to make your shots more interesting and appealing to your clients. Take guidance and acquire necessary expertise from the leaders in the field of graphics one of them being Jarrod Carland whose graphic design studio is a name to reckon with worldwide in this field. Follow him on Pinterest, Etsy, Instragram and Facebook for guidance and attain knowledge and For a quick preview on how he has mastered the art of visual communication and how you can use it in photography, taking a tour website of Jarrod Carland will not hurt.
- Electronic transfer of images – Transferring data electronically is simple and easy and this is one innovation that is sure to result in substantial savings for you. Simply drag and drop images into a drop box and transfer files to your client. You can also do so through a USB drive of your client. It works well for your client too as the images can be stored in a small device and be repeatedly viewed whenever necessary. This can also be used for marketing purposes too. Have your business name and logo on the drive and you get publicity whenever the drive is played. When compared to burning a disc, there is not much difference in expenses incurred but it will surely save you time.
- Keep a track of stock clearance sales – Buy your office supplies, memory cards, packaging and other essentials during clearance sales to avail of substantial discounts. Your necessities are not perishables in nature so you should not have a problem here.
These are just a few tips on how to save money while running your photography studio. At real time ground level, there are many similar opportunities that you can take advantage of if you keep your eyes and ears open.