Photography Business

How Profitable Is A Photography Business? (Updated for 2024)

Pat Walls

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Updated: September 13th, 2024

How Profitable Is A Photography Business? (Updated for 2024)

So you want to start a photography business?

And the first question that came to your mind was, “well, are photography businesses actually profitable?”

With a market size of $10.7B - there’s plenty of business to go around.

Especially considering:

You could start a photography business with as low as $500
Based on our data, photography businesses generate an average of $253K per year
You could see gross margins as high as 85% with photography businesses

There’s money to be made. Don’t worry.

But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a photography business.

Let’s dive in!

Is a photography business profitable?

Yes, a photography business is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.

For instance, since average revenue is $253K per year with an estimated gross margin of 90%, you could expect to recover your investment within 9 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your photography business.

To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.

Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your photography business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a photography business worth it?

If you’re wondering if a photography business is worth it, the answer is a big YES. With photography businesses, you have the potential to earn $253K per year (this is based on data reported by real founders).

Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.

With a market size of $10.7B, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.

Of course, you must learn and understand every aspect of running a photography business to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.

You might want to consider reading more specifics about successful photography businesses case studies.

Examples Of Profitable Photography Businesses

Here are a few examples of profitable photography businesses, and a few more details about them:

1. PEWDOC ($14.4K/year)

Manthan Gajjar, the founder of pewdoc, came up with the idea for his business after realizing the potential to make money online through blogging. He used his passion for photography and his knowledge of SEO to create a photography blog that offers tips, tricks, and gear reviews for beginner photographers. Through consistent publishing, SEO optimization, and targeted ad campaigns, Gajjar has been able to attract and retain customers, earning $1.2k per month.

Is it profitable? Yes
How much money it makes: $14.4K/year
How much did it cost to start: $0

How I Solo Built A $1.2K/Month Blog Site For Indian Photographers

Founder Manthan Gajjar built his photography blogging platform, pewdoc, as a side hustle project and now generates $1.2K per month by publishing trending photography content for newbies. He shares his process of building a blog on a low budget, gaining traffic through consistency and SEO knowledge, and using social media advertising to attract customers and retain readers through newsletters.

Read this case study

Read by 2,299 founders

2. Sean Audet Photography ($132K/year)

Sean Audet pivoted from a decade in hospitality to launching his own commercial photography studio in 2018. Initially a small experiment, his studio now earns around $11,000 monthly, fueled by his passion for food styling and quick learning through YouTube tutorials.

Is it profitable? Yes
What's the gross margin? 85%
How much money it makes: $132K/year
How much did it cost to start: $0

I Left My Tenured Position To Start An $11K/Month Photography Studio

This case study follows the journey of Sean Audet, who built an award-winning commercial photography studio specializing in food and product photography, growing it from a part-time experiment to a full-time career that brings in around $11,000 a month, emphasizing the importance of taking risks and embracing new opportunities for aspiring founders in building and growing their own business.

Read this case study

Read by 1,309 founders

3. LRF FLOORING LTD & LF MEDIA ($84K/year)

Liam Francis, a qualified floor layer, and his partner moved to London to kickstart their photography and videography business. They lost their jobs due to the pandemic, but they persevered and started LF.Media. They offered their services for free in exchange for products, built their portfolio, and started charging clients, eventually making £100,000 a year in just 12 months. They also started LF.Flooring, which helped fund LF.Media and contributed to their success.

Is it profitable? Yes
How much money it makes: $84K/year
How much did it cost to start: $20K

How I Went From Jobless To Making £100K/Year In 12 Months

London-based entrepreneur goes from jobless to making £100,000 a year by starting two successful businesses: photography/videography company L.F Media and flooring selling/fitting company L.F Flooring, despite losing everything due to the pandemic.

Read this case study

Read by 4,456 founders

Learn more about starting a photography business:

Where to start?

-> How much does it cost to start a photography business?
-> Pros and cons of a photography business

Need inspiration?

-> Other photography business success stories
-> Marketing ideas for a photography business

Other resources

How much can you make with a photography business?

With a photography business, you can make an average of $253K revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $500. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 9 months.

How much does a photography business make a week?

Based on our data, average weekly revenue for a photography business ranges around $5.27K. As such, you could see monthly revenues of $21.1K.

To know if your photography business achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.

Learning your weekly profit can also show whether you're hitting your target goal for your photography business.

How much do photography businesses owners make?

The income of a photography business owner can vary depending on various factors such as location, size, competition, and the owner's business skills.

But to give you some idea, the weekly revenue of an established photography business is about $5.27K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.

While the potential for earning a good income as a photography business owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Photography Business Profit Margins

Generally speaking, a photography business can expect profit margin of around 90%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a photography business, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.

However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, photography business owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, photography business owners can ensure long-term sustainability and profitability for their business.

Photography business owner salary

The salary of a photography business owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established photography business, in a prime position, might see an average weekly salary around the ballpark of $4.74K.

But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.

Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.

Conclusion

In a nutshell, based on many of our examples, a photography business may be a promising business to start - but the success of your photography business mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable photography business.

Part of

Starting A Photography Business: Everything You Need To Know

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