Starting a business specializing in portraiture

Started Jan 24, 2014 | Discussions thread
OP spytrek007 Regular Member • Posts: 179
Re: Let's create a Semi-Pro Forum

PenguinPhotoCo wrote:

He said he didn't want to 'make a profit'. He wants to TFP - NOT bringing a DIME in money. So no, he's never gonna pay for gear that way.

Lets clarify a few things.

I am reading a few business books. I have a business plan and I am doing research as I am going along.

Regarding not making a profit, that is not my intention. My intention is to build up my portfolio as well as form a network with relevant people in the industry. This can be with stylists, make up artists and those that provide photo printing service. Take any industry for example, to get known you have to work for nothing and still deliver outstanding work. Take web design for example. This web design market is very saturated and competitive. Now i hear new graduates doing volunteer work or projects for 6 months to a year. So how do you expect a new photographer with no portfolio to start charging from day 1?

Anyway back to photography, this thread has gone off topic. This thread was mainly concerned with insurance and other legal issues not on how business planning or marketing via flyers, leaflets etc. However some posts were quite useful and I have a better understanding of what needs to be done. I am researching by reading various books, one is by some author Lara White. I found her book quite useful but still have specific questions. It is by an American author so will apply to USA law.  The book states that you only need insurance if your equipment is more than what you could afford to replace. So this means I would be risking myself in case i damage my camera due to own negligence.

As i have been told on this thread that I need business insurance aka professional indemnity or public indemnity to cover my camera equipment and camera bags which are all worth around £1100. I have invested in a few camera bags, flash guns, filters, memory cards and so on all totalling £1100. This is around £600 on top of the price of the camera and what it came bundled with.

Then i need public liability to protect my business against claims from clients just in case someone decides to play nasty for no reason or the other. With no win no fee lawyers, this is bound to happen. Other professionals too suffer such as teachers, doctors etc.

 spytrek007's gear list:spytrek007's gear list
Canon EOS 7D Canon EOS 5D Mark III Canon EF 17-40mm f/4.0L USM Canon EF 24-105mm f/4L IS USM Tamron SP 150-600mm F5-6.3 Di VC USD G2
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