Stock Photography Business Idea
There are several ways to get into a stock photography business.
You can take a hobby and turn it to a business, or you can take a job as a photographer and turn that into a stock photo business, or you can decide to just start the business up from scratch.
However you must be a skilled photographer and be savvy about business at the same time to make this work.
On the photo side, you will need a large quantity of excellent photos. If they all meet the standards of photography excellence or can be used in unusual or media shots, you have the right kinds of inventory. You can also work in your darkroom or on your computer to create composite photos and creations that will sell well.
Researching And Beginning A Stock Photography Business
For starters, look at stock photography business websites and see what types of photos are for sale. This will give you an idea of the types of photos which are in demand. These are used in advertising, print, television, or internet, and purchased for special projects like internal slide shows or used at trade shows and promotions.
The nice thing about providing stock photos is that one popular photo can be sold over and over. Or, you can sell a photo outright, with all rights included, for a higher price. It all depends on you, the photo, your client, and what you negotiate.
Showing Your Work To The World
Create a website to showcase your work and offering photos for sale just like other stock photography businesses you will see online. Quality, freshness, uniqueness, and relevance of your photos are a key to success in this business. Provide photos that are in demand and not just what you like, because you are not the buyer.
One good way to start this business is to locate a broker or two and sell your photos through their websites. You can license your photos this way; there may be a small listing fee, but that will be recouped when the photos sell. These stock photo companies have been in business longer and they have many contacts, so you are likely to make your first sales faster with them and keep costs lower while you get started.
You can offer custom photo services to local advertising agencies as a freelance photographer or through local camera shops. You can provide exclusive rights to the photos they ask you to take, too. Another way to become known is to teach at local community colleges and to work with other local photographers and shops.
What Will You Need To Start Up?
For your own business, you need general business insurance, a place to work and a car, plus all your photography equipment. You will need 35mm and digital cameras, a tripod, and possibly more photography equipment if you are doing internal creative work like burn-ins and composites. You need a computer for IT creations and for working online.
For training, a basic photography course will be helpful and advanced photo courses and computer training in Photoshop can also be very beneficial to getting your business going. In general, your profit will be around 40% of everything earned.
A stock photography business has many perks to it for a creative person, so if you’re one of these you should get onboard and start making a profit with your hobby right away!