Portrait photography business plans are generally used by freelance photographers trying to raise capital to incorporate as portrait photographers, or by existing photography studios engaged in portrait work that need to refinance or expand their operation. It's a common conception that a business that is already up and running is better situated to raise capital or get a line of credit on the books, and while that's not always true, if that is what you're dealing with here it's best to play up your experience to date. Showcase some past portraiture projects and compile your profit and loss statements and balance sheets into a brief table showing your path thus far. If you're just starting out, fear not – simply cover these topics:
• How many portrait sessions can you perform per week?
• What will your different packages cost?
• What method will you use to get the printing done?
• How will you transmit proofs to buyers?
• How long will it take you to get from start-up to earning revenue?
The portrait photography business plan needs to bring in data points that support the market opportunity – above all, you have to show that you can make it work. Your background is important and should be the basis of a whole section describing the executive team members. Weave in a personnel plan if you will need to have any employees on staff (as opposed to working as contractors via 1099 forms, which is strictly a P&L issue). The pro forma should model out reasonable yet appealing projections that show a quick break-even and a sensible Year 3 net profit total and percentage. MasterPlans can write this business plan for you in as little as 5-7 days. Call us to learn more about our service! (877) 453-2011.
