Introduction
The type of photography business that I have chosen to start up is
wedding and portrait photographs. I would like to be set up in a rural area
like Boorowa, Yass and Murrumbateman districts where there are not a lot of
other competitors/photographers present. I would also advertise myself in
surrounding districts including ACT where I have been able to network, and
build up my client base. I would like to be able to provide beautiful,
affordable images that are great value for money.
Product/Service
Coming from a rural community, I have found that the common idea
people have about photography is that it is thought to be overpriced, and
people generally don’t like to spend too much money on such things. Rural farming
communities are generally made up of working class people who may not have
access to high paying jobs, are only able to send their children to public
schools, and may be relying on an income that can be greatly affected by
changing weather conditions of drought and flood. However, considering these
factors, beautifully crafted professional photographs are still in high demand,
and wedding and portrait photographs are something that is very important for
every family to have. Without underselling myself and the photographic
business, I would like to be able to provide my business in a really affordable
manner.
What will make my business unique is that I will be open to ideas
from my clients and am happy to interpret them into my work. I won’t restrict
myself to one specific style of photography and I will present a professional
portfolio, showing a broad range of only my very best work.
Business
Potential
Competitors – in the Yass district and surrounding areas, there
are not a lot of photography businesses. In Yass alone there is one photography
business registered in the yellow pages. Boorowa has none, Murrumbateman none,
and Young has around 6 different photographers. This small number is a great
starting point for me as I can introduce my photography as a new creative
starting point, where people may like to choose me as their photographer, to
try out something new or different.
The Market – Australia’s Photographic market has made approximately $380 million or 0.03% of Australia's GDP in
2011-12. This is a decline from the previous 5 years of an approximate
$800 million. The reason we are seeing such decline in the industry is because
of the long-term demand for professional photography being eroded by the
widespread adoption of digital camera technology by consumers and amateur photographers,
where almost every house-hold has access to the latest digital technology.
There are a lot of people in the market who consider
themselves to be, and work as professional photographers, without hardly any
training in the field at all. This is where I have the point of difference from
other photographers, with the fact that a have been specially trained in my field.
Research evidence – IBISworld, 2012, ‘Proffessional Photograpy in Australia: Market
Research Report’, Viewed 14th August 2012, <http://www.ibisworld.com.au/industry/default.aspx?indid=674&fb_source=message>.
Business Structure
The business structure I have chosen is to be a sole trader. This
will be easiest for me starting out because I will only have a small business
and will not be needing to employ anyone. It is a very simple and easy way to
operate, the record keeping is quite minimal, and
you retain complete control of your assets and business decisions.
To trade into the ACT I will need to register my business name, I will
need to apply for an Australian Business Number (ABN), make arrangements for my
business premises, and get a tax file number.
