Photography has become a national obsession in the United States. In fact, we take more photos in the US than anywhere else on the planet.
The average American takes 20.2 photographs a day - that’s four times more than the average European. Of course, the vast majority of those pics are taken using amateur photography equipment, mainly in the form of the smartphone camera.
And while we're obsessed with sharing our amateur photos on platforms such as Facebook and Instagram, there's still a massive hunger for professional photographers to expertly capture special events for posterity, such as weddings and parties.
There are many different revenue streams in the photography market, and many professional photographers specialize in a specific discipline or offer a range of services. The various photography sectors include:
- Commercial photography - supplying still and moving images to help market a company or service.
- Portrait photography - offering studio-based family- and pet portraits, catering to the gifting market.
- Special events photography - capturing the atmosphere of a special day, such as a wedding celebration.
- Industrial photography - producing highly specialized technical shots for brochures and books.
- Sports photography - creating action shorts from the sports field.
- Children’s photography - portraiture of young children for the gifting market.
- Entertainment photography - making promotional content for artists to help promote a show or a service.
So, if you're looking to escape the rat race and change the way you earn your living, a professional photography franchise could offer a reliable route to creative self-employment.
Just think: no more 9 to 5.
Franchising
Franchising is generally considered a safer way to go into business than starting up as an independent sole trader.
Independent companies need to establish themselves in an (often) saturated marketplace. And while photography is still a niche industry, making an impact on the market when you're in competition with established competitors is challenging.
Franchising, however, offers a range of benefits that are often particularly attractive to people who have no prior experience of running a business.
For example, you inherit instantly recognizable branding when you invest in a franchise - and that gives you immediate curb appeal, helping you stand out against your competition.
You also inherit the hard-earned reputation of the parent company. In business, a good reputation can really bolster a company’s growth, while a bad reputation can destroy the chances of its success. With a photography franchise, you take on the experience and reputation that helps you thrive from the first day of business.
Because of this, most parent companies offer excellent training opportunities to ensure that you’re capable of delivering the excellent customer service that they have worked so hard to build. Learn the tricks of the trade from an experienced practitioner who will guide you through the essential skills of the craft.
Most photography franchise parent companies offer a range of HR functions, offering support for regulatory compliance - the stuff that keeps independent business owners awake at night.
If you've never run a company before, franchising is a common-sense way of starting your own business. With ongoing support from your franchise partner, you'll find your photography franchise a liberating way to flex your creative muscles.
Facts About Photography Franchises
IBISWorld states that the photography industry in the US is worth $11.5bn each year, having seen a 4.2% growth in 2021.
The photography franchise industry is often considered a discretionary (rather than necessary) sector. This means that the sector is particularly susceptible to fluctuations in demand based on disposable income. When general disposable income is high, there's greater demand for professional photography services. Disposable income is predicted to increase in 2021, representing an excellent opportunity for growth in the sector.
Photographic portrait studios make up a large portion of the professional photography industry, supplying services to schools, colleges, and family portraiture.
Pet photography is seeing plenty of growth. In fact, between 2018 and 2019, the pet photography sector grew by 30%. The pet photography market is currently worth a not inconsiderable $124m, with 2617 photography businesses now offering pet photography services in the US.
Another particularly healthy division of the photography franchise sector is commercial imaging, creating compelling visual content for marketing companies and corporate businesses.
Of course, with the advent of digital photography, it's possible to manipulate visuals using applications such as Adobe Photoshop. While there's some controversy regarding the presentation and manipulation of the human body in marketing materials, powerful image editing software really does mean that photographers can produce some breathtaking content.
According to Allied Market Research, drone technology is expected to boost the aerial photography franchise sector by 12.9% over the next six years.
Franchising Vs. Independent
You need capital to go into business - and an initial investment of around $50,000+ to buy into an average photography franchise.
Of course, most people need to apply to banks or moneylenders to raise the necessary capital. This is where franchise businesses trump independent traders hoping to access funds from the same institutions.
Most moneylenders and banks favor the franchise model because the business has already proven its market viability, with a history of profit, sustainability, and growth.
Independent companies, however, usually lack the credentials to demonstrate the viability of their business idea, making it much harder for them to achieve their startup funding goals.
Unfortunately, over half of all independent companies go into receivership within their first five years of trading. This is often due to an inability to penetrate the marketplace in competition with established competitors.
Also, franchisees benefit from the expertise and experience of an established partner, while independent companies have to weather the storm alone.
Photography franchises tend to hit the ground running because they start out with an established customer base, an existing supply chain, and the ongoing support of the parent company.
Photography Franchises
Check out Franchise Direct's excellent selection of profitable photography franchise opportunities. And help the American public seal their most special days with photographs they’ll treasure for a lifetime.
The United States photography market is made up of a number of different areas, including individual or group portrait photography, school portrait services, commercial or industrial photography, wedding and other special occasion photography, and sports photography.
Specifically, the photography franchise industry is quite an attractive one to prospective franchise owners. Who wouldn’t want to make a living helping people create memories of special events, especially with a business that commonly has lower opening and continuing costs than many other franchise options?
Here are some main categories photography franchises can work within.
Weddings
While it’s usually a one-time transaction…usually, weddings are a consistent form of business for photographers. It’s a profitable niche too: According to Brides Magazine, wedding photography prices typically vary from $1,000 to $10,000 in the U.S., without video. It can go higher. Though it’s usually a one-time deal, if pleased with your work, couples may return to you for anniversaries, family portraits, and other picture needs.
Kids and Families
Daycare/school pictures aren’t going out of style any time soon. Neither is the family photo. Typically falling under the heading of photographic portrait studios, these services make up a large portion of the industry. This industry segment has two major categories: school and non-school portraits.
Sports
Sports and athletic teams are another primary customer base of photography franchisees, along with national organizations like the YMCA when it comes to sports photography. These organizations appreciate the turnkey approach photography franchisees provide in managing services for large numbers of players in an area they typically don’t have a lot of expertise in.
Real Estate
Real estate photography is another big segment within the industry. With the ever-increasing competition to buy and sell, realtors and their clients look for every way to get the best deal. And one of those ways is high-level photography for their brochures and other sales literature. Franchisees who choose this market segment can offer their services to residential, commercial, and architectural clients.
Other Assorted Events
While we can all be amateur photographers nowadays with our smartphones, people will still want a professional to capture special, candid moments at birthday parties, family reunions, holidays, and a number of other special occasions. There’s also corporate photography for marketing materials and other brand imaging, as well as personal headshots, and more.
Technological Advances Expanding Photography Franchise Options
A huge development in the last decade for all photographers, but particularly real estate photographers, is the advancement of drone technology.
In fact, the usage of drones has led to the founding of franchises, such as Hommati, which specializes in services to real estate professionals such as virtual staging, 3D interactive tours, and aerial video. Another drone-focused franchise is BirdsiVideo, which provides clients with aerial images and data collection.
Also making its way into the photography franchise industry is 3D photography. With franchises, like Shrunk 3D, franchisees can use their mobile photo booth to capture their clients’ special moments with an exact 3D replica of them, their family, loved ones, and/or pets.
And the technology advances can be specific to the franchise as well, helping them to streamline functions and increase productivity.
Consider this: TSS Photography, a leading franchise in the industry, simplifies pairing names and coordinating photos with its PhotoMatch system and then streamlines online ordering for the families and groups. Several franchises have incorporated systems such as this.
Initial Investment and Opening Costs for Photography Franchises
The amount necessary to open a photography franchise varies depending on the unique business system and execution requirements.
The exact opening costs for a given photography franchise depends on many factors, including but not limited to: the franchise fee, training expenses (such as travel and living expenses, not the actual training courses), grand opening advertising and marketing costs, the cost for a dedicated building space or work vehicle (if necessary), and more.
The franchise profiles on our website will present you with a basic range for the initial investment or minimum cash required to open a franchise. But when it comes to finding out the details of an initial investment, the franchise disclosure document is the best place to look. Franchisors offer itemized estimates in their franchise disclosure document (FDD) based upon their experience establishing, and in some cases operating, units.
Keep in mind these estimates are just that, though—an estimate. Prospective franchisees should review the figures presented with a business advisor, taking into consideration their unique circumstances, before making the decision to enter into a franchise agreement.
Top Benefits of Being an Photography Franchise Owner
The benefits of owning a franchise can be numerous vs. independent operation. Here are a few of the top benefits for those who decide to own a photography franchise instead of going at it alone.
Name Recognition: While people sometimes do want to try something new, most people tend to be creatures of habit and trust companies that they have some kind of familiarity with. Franchises tend to have established brand names that, in many instances, have been around for years. If you buy a photography franchise, you will be given the right to associate your business with that franchise company's name, trademarks, and logo.
Training and Support: A popular feature with all franchises is the training provided. While in business, franchisees will have access to the franchisor’s operations manual, computer systems, and other items designed to help you successfully manage your photography franchise.
Insurance and Licensing: One of the advantages to aligning yourself with a franchise is, in many cases, the franchise brand you choose already has a measure of familiarity with the rules and regulations that must be adhered to. In fact, within the FDD many franchises provide a detailed list of insurance coverages that should be carried by you while in business.
Advertising: Getting your name out there can be expensive and sometimes it can be hard to know where to spend your advertising and marketing budget. With a franchise, national advertising is typically done by the franchisor. In addition, though local advertising is generally up to you, you’ll have guidelines in place to help guide you.