What is YOUR market like?

Started Mar 31, 2014 | Discussions thread
OP PenguinPhotoCo Veteran Member • Posts: 6,284
No Answers, huh?

I can tell you about my market - and I have.

NOBODY is posting about THEIR market. Why not?
You probably have no idea what your market is like.

When the upper 20% is 500 people there is a limit to the market.

OK, 500 I"m not sure of. But I'm sure Kirk has more people in his zip code than I do in my entire county.

I am pulling customers from three states (for senior pictures), 12 high schools (in 3 states), 5 counties (for weddings).

YOU market to that broad and area - it's not inexpensive.

I am appealing to the widest possible audience in an effort to get as many customers as possible - my avg senior sale is $950. Last year I had sales from $160 (hs girl, the only member of her household with a job) to $1800 and they came back for pics of all the kids 2 weeks later spending $900 more.
Wedding from $400 to $3800 this year. Booked one last week for $2950. When the busiest venues here for weddings are under $40/plate (including food, booze, centerpieces, cake) that is a big chunk of change out of their budget. And my avg sale is above the nat avg.

There are 'rich' people here - but the 'market' that caters to them is small...only 1 'fancy' restaurant, no luxury car dealers, no national chain restaurants other than fast food and 2 applebees in the entire 400sq mile county. Even old navy closed up shop after only a year.

Competition...there are 5 main street studios in the county. the 'biggest' avgs $300 a senior, does paper proofs and didn't have a website till last year.
the second biggest got a job teaching at a charter school. He's given up his schools and sports leagues. Still does studio work.
Another, the high end senoir guy, closed his studio and moved it to his house. He's since expanded to family, babie and weddings - which he told me he detested doing weddings.
Another fired his mother. Well, she went from full time to part time and now has a FT job outside the studio. it's rough when you have to let your mom go (she'd been there 30 years..workd with the previous owner).

My specific town has 4500 residents and is a 'bedroom' community - no industry, no apartment complexes, one office building. It's very family friendly and few if any single people being the point.
the local pizza restaurant has an area for folks to advertise their local businesses - there are SEVEN wedding photographers with ads there. IN a town with practically no wedding business and certainly not enough to support 7 businesses.

So now- care to share?

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