Before starting PicSpotr, I was an amateur photographer buying every piece of equipment Amazon offered up for sale. I spent a considerable amount of money starting my photography business without setting aside a budget or following some sort of checklist that would set me on the road to success. I’m hoping the following list helps you as a budding photographer so you do not make the same mistakes I did. (I’ll preface this by saying: these are my recommendations based on my experience).

Equipment

A Camera (or 2)

The most essential component of a photography business is obviously a camera. My hopes and dreams of purchasing a Canon Mark III were dashed as soon as I saw the price tag. When starting the business, I had very little funds and therefore opted for a Canon T3i. This starter camera lasted me about a year until I upgraded to the Canon 70d.

The Canon 70D (image courtesy of Amazon.com)

For portrait photography, you can easily get away with a single camera however, if you are shooting weddings and other grande events, you’re best bet: get 2 cameras with varying lenses on both allowing you to shoot both close up and distant subjects.

2 Canon 70d Cameras — $1999.96 ($999.98/each)

A Decent Memory Card

Seems a bit novel to be on this list however, when I purchased my first memory card, I soon realized that I could not record video because the write speed on the memory card was too slow. I’m currently using a SanDisk Extreme Pro 64GB Flash Memory Card which affords me the speed to record video and the memory to shoot in RAW mode without worrying too much about storage space.

2 Memory Cards — $105.78 ($52.89/each)

Lenses

When starting out, I bought an onslaught of useless equipment (including lenses). After using only 3 of the 6 I purchased, I have really built a great relationship with CraigsList and eBay. For lenses, I’m currently mastering:

Canon EF 50mm 1.4 — $349.00 (Alternate: Canon EF 50mm f/1.8)

Sigma 18–250mm f3.5–6.3 — $349.00

In truth, I’ve gotten by using just these 2 lenses for a while now. However, do your research and be sure to get lenses that suite your actual need.

Speedlite

I firmly believe that a quality speedlite can be overlooked. My speedlite has helped me capture some amazing shots, the popup flash on my 70d can be disappointing at times so I chose to invest the funds into a speedlite that provides me with the options I needed. For example, I wanted the ability to control the direction and intensity of the speedlite, both features offered in Canon Speedlite 430EX II ($249.00).

You can spend an inordinate amount of money on lighting kits, backdrops, etc but if you are just starting out… avoid scratching the itch of buying every piece of equipment that you can afford. Just purchase what’s necessary and grow based on need.

Equipment Insurance

Not necessarily a physical “thing” however, you may want to consider equipment insurance. In many cases, you can protect your equipment from damage, accidents, etc. I’d suggest joining the Professional Photographers Association where you are afforded up to $15,000 in equipment insurance just for bring a member.

A really good computer

I’d really recommend you invest in a really good computer that has enough power for editing and storage. I’m a mac addict so it’d be hard for me to recommend anything that’s not an Apple computer however, invest in something you’re comfortable with. This could cost you anywhere from $500-$2500 depending on your taste.

Software

Image Editing

I will not vouch for any single photo editing software. My experience has exposed me to Lightroom, Aperture and Photoshop. I’d simply recommend to try them out and see which one works for you. You should however plan to spend at least $100 for a decent editing application.

Business Management Software

Ok back to reality… You have a multitude of options when it comes to managing your day to day tasks as a photographer. The core list of features you are looking for include contact management, scheduling, invoicing, expense management, contracts and agreements. Plan to spend at least $100 on software or $20–100/month for a cloud-based solution.

Register Your Business

Incorporate vs Sole Proprietorship

Within the small business realm, you have a multitude of options for making your new photography business “official”. Some photographers go the route of taking personal responsibility for everything their business does. In some cases, naming their photography business “First Name Last Name Photography” without employing any protections whatsoever. This is always a risk you can assume however, you should know that you have a couple options.

A sole proprietorship is one said option. there is not much difference between a sole proprietorship and operating a business under your own name however, registering a sole proprietorship allows you to employ a trade name, making the business distinctly recognizable in the market. Some photographers register their actual names others create more unique trade names such as “I Took Your Pictures Photography”. Registering a sole proprietorship is actually fairly simple; run down to your local town hall and head to your Town Clerks office. The registration will typically cost you $5-$50.

Many photographers want more protection as they grow their business; separating liability from themselves to their actual business. This requires that your new photography company be incorporated. Though there are many formal structures a photographer can use, the most typical for small businesses is the LLC or Limited Liability Company. LLC’s allow small and some established businesses to have a level of protection not afforded with a proprietorship. Click here to read more about LLC’s.

LLC’s should be registered at the at the state level. You can optionally register a trade name at the local level also (similar to registering a sole proprietorship). Check with your Secretary of State office for cost and what paperwork you need. Federal registration (which is basically registering a tax/employer ID number with the IRS) is fairly simple and fast, click here to do it online. For state level registration, check with your local Secretary of State office.

Talk to an accountant or a lawyer to identify which structure would be best for you.

Insure your business

You may not like this… but let’s be honest, someone can sue you. Invest in some protection. Period! General Liability insurance is key to protecting your new business. The price for liability insurance ranges from $500-$1000 per year but it’s an investment that is more than worth it. Again, PPA members are able to get liability insurance at discounted rates.

The Total Investment

There is no solid number that I can produce that will tell you exactly how much your new business will cost however, you should anticipate slowly investing from $4,500-$10,000. A worthwhile investment in a career that can last you a very long time.