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Archive 2009 · Store front?

Lucky_Dog
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p.1 #1 · Store front?

I found a 930 sq ft store front on a main road in a semi-affluent community for reasonable rent with no lease. I have know this building for 25 years... it's had a TV repair service in it, antiques, dance studio, maybe some other businesses that I'm forgetting. I'm no business wiz, yet I feel that for $500 per month it might be worth the gamble. The entire storefront is glass with plenty of display opportunity. I don't think that I can shoot there, but I would set it up for meetings. The money is fairly cheap -- I wish I had some way to gauge whether I could/would make enough to pay the rent and make more profit.

I'm looking for any and all input... thanks!

Nov 11, 2009 at 07:04 PM

Tony Hoffer
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p.1 #2 · Store front?

$500/month just for meetings? Will you be doing anything else there?

Nov 11, 2009 at 07:07 PM

TRReichman
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p.1 #3 · Store front?

I would do it. Having a perfectly branded storefront has made me so much money that $500 a month is nothing. If you set up your presentation and sales room properly it will make you money. Properly showcasing your work will encourage your clients to purchase it at appropriate sizes and prices. If you have a space that effectively communicates your brand message more people will have access to you and you will book more of the right people.

Then again, I might be an idiot. Proceed forewarned.

- trr

Nov 11, 2009 at 07:10 PM

Victor S
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p.1 #4 · Store front?

It would give you more credibility IMHO which would lead to higher rates. If your rates are good it should be awesome opportunity. I would totally jump on it, but there is no such rates in Seattle. I pay $3000 for rent for my other business.

Good luck!

Nov 11, 2009 at 07:13 PM

Lucky_Dog
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p.1 #5 · Store front?

I'm hoping that having the presence will bring additional work. It's a gamble... There's a possibility that I can shoot portraits there, too.

I would love to hear from folks about whether business picked up when they had a "studio", for lack of better term. I've been thinking for some time that meeting at a comfortable place with my work hanging on the walls might enable me to move up in the credibility department. I would probably man the store for a few hours in the evening, several days a week.

Nov 11, 2009 at 07:16 PM

Lucky_Dog
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p.1 #6 · Store front?

I re-read my posts, for clarity....

There is a wall dividing the store in half. I spoke to the owner about the possibility of removing the wall so that I could have more room to shoot. If we can, I'll be able to shoot... if we can't I still may be able to, I won't know until 6:00 when I meet him there.

Nov 11, 2009 at 07:21 PM

mauriceramirez
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p.1 #7 · Store front?

A decent storefront in my town or in SF would be absolutely HUGE for my biz. Really, it would be game over. But it would cost *at least* $2k/mo. $500 is nothing.

There's one photo street frontage, storefront biz in my town and his stuff is, well I'll just gently say its...traditional. But he's managed for 25 years.

I say go for it. $500 and no lease? Not even a question.

-m

Edited on Nov 11, 2009 at 07:27 PM · View previous versions

Nov 11, 2009 at 07:21 PM

DB
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p.1 #8 · Store front?

Let us know what you decide! I've considered renting out an area in my dad's office building, but I don't know if it would be a "store front" per se. More like an office to meet in - it doesn't abut to any shopping areas or streets. I would be interested to see how well your business would do if you had a store front!

Nov 11, 2009 at 07:24 PM

VPell
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p.1 #9 · Store front?

Traditional. The universal euphemism subpar photography.

Nov 11, 2009 at 07:26 PM

Lucky_Dog
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p.1 #10 · Store front?

VPell wrote:
Traditional. The universal euphemism subpar photography.

Hahaha... don't be so forward, you're liable to "upset" folks around here.

Nov 11, 2009 at 07:30 PM

TRReichman
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p.1 #11 · Store front?

Some of those traditional folks could teach today's trendy photographers a whole heck of alot about the craft of good photography though.

As far as an anecdote about making more with a studio I knew full well I couldn't book high-end/high-dollar weddings out of my house. Wasn't going to happen. I bought a commercial building and immediately raised my wedding prices. Went up about 9x in the fist year and within 3 years we're charging at the top of our market and regularly working nationally. I couldn't have done any of this without the studio. The studio didn't do all of the work mind you, but it was a significant part.

- trr

Nov 11, 2009 at 07:43 PM

Photo197726
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p.1 #12 · Store front?

Just run your numbers.

Rent, utilities, etc: $7200 (I assumed heat was included and you pay $100/month in electricity/internet, etc).

Throw another $2500 on that number to buy a couch, chair, area rug, and coffee table to have an inviting space for guests.

Will having a storefront book you extra weddings that you haven't before, such that you make an extra ~$10,000 in profit? Can you raise your prices on your other packages a bit an recoup some of that?

Essentially, calculate how many extra weddings you need book (as a result of the storefront) at your most common package to break even, and make your decision from there..

Nov 11, 2009 at 07:57 PM

Sarah Dickerso
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p.1 #13 · Store front?

I'm interested to see responses here too. I am looking into "studio" space as well and am liking what I am seeing here as far as ROI people have had. I have told myself that when I book 2010 full (with my FT job still, I am stopping at 20 weddings and am at 13 presently), I am going to raise my rates again. I feel I may want to have this space to do so.

I did see the office of a wedding planner I have worked with that is in her finished-out basement, at home. It looks FANTASTIC. I have been considering that though I realize it is in my own home (and hubby, an ex-cop, is skeptical, though considering it...) I could finish it out to look really high-class. And if this wedding planner works every weekend, busy as she can possibly be, booking from her home...hmm.

Nov 11, 2009 at 08:00 PM

Micky Bill
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p.1 #14 · Store front?

Photo197726 wrote:
Just run your numbers.

Rent, utilities, etc: $7200 (I assumed heat was included and you pay $100/month in electricity/internet, etc).

Throw another $2500 on that number to buy a couch, chair, area rug, and coffee table to have an inviting space for guests.

Will having a storefront book you extra weddings that you haven't before, such that you make an extra ~$10,000 in profit? Can you raise your prices on your other packages a bit an recoup some of that?

Essentially, calculate how many extra weddings you need book (as a result of the storefront) at your most common package to break even, and make your decision from there..

Consider tax deductions too, anything you do with that space is a deduction, if you were working out of your home it's a little bit trickier when it comes to taxes.

Nov 11, 2009 at 08:21 PM

VPell
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p.1 #15 · Store front?

TRReichman wrote:
Some of those traditional folks could teach today's trendy photographers a whole heck of alot about the craft of good photography though.

I said it's a euphemism, I didn't say I agreed with it, I got mad love for traditional photographers.

Nov 11, 2009 at 08:38 PM

Photo197726
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p.1 #16 · Store front?

Micky Bill wrote:
Photo197726 wrote:
Just run your numbers.

Rent, utilities, etc: $7200 (I assumed heat was included and you pay $100/month in electricity/internet, etc).

Throw another $2500 on that number to buy a couch, chair, area rug, and coffee table to have an inviting space for guests.

Will having a storefront book you extra weddings that you haven't before, such that you make an extra ~$10,000 in profit? Can you raise your prices on your other packages a bit an recoup some of that?

Essentially, calculate how many extra weddings you need book (as a result of the storefront) at your most common package to break even, and make your decision from there..

Consider tax deductions too, anything you do with that space is a deduction, if you were working out of your home it's a little bit trickier when it comes to taxes.

Good catch! Definitely tax deductible, and you don't have to divide it up into usable spaces like you would when you deduct part of your home... I know that can get messy.

Nov 11, 2009 at 08:42 PM

BKphotography
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p.1 #17 · Store front?

Lucky_Dog wrote:
VPell wrote:
Traditional. The universal euphemism subpar photography.

Hahaha... don't be so forward, you're liable to "upset" folks around here.

Man, my wee 2 year old girl doesn't whine as much as you...

Nov 11, 2009 at 08:47 PM

Lucky_Dog
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p.1 #18 · Store front?

BKphotography wrote:
Lucky_Dog wrote:
VPell wrote:
Traditional. The universal euphemism subpar photography.

Hahaha... don't be so forward, you're liable to "upset" folks around here.

Man, my wee 2 year old girl doesn't whine as much as you...

thanks for your cotribution... why not just ignore me?

Nov 11, 2009 at 09:15 PM

jeremy_clay
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p.1 #19 · Store front?

Lucky_Dog wrote:
BKphotography wrote:
Lucky_Dog wrote:
VPell wrote:
Traditional. The universal euphemism subpar photography.

Hahaha... don't be so forward, you're liable to "upset" folks around here.

Man, my wee 2 year old girl doesn't whine as much as you...

thanks for your cotribution... why not just ignore me?

This image is copyrighted by the owner

This image is copyrighted by the owner

Nov 11, 2009 at 09:19 PM

BKphotography
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p.1 #20 · Store front?

I took the time out to answer about 50 of your PM's.

Ignore you?

Wish I did.

Nov 11, 2009 at 09:48 PM

Lucky_Dog
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p.1 #21 · Store front?

Now who's whining?

BTW... it was 3 PMs and you only answered 2... sorry for the inconvenience.

Nov 11, 2009 at 09:50 PM

alexromo
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p.1 #22 · Store front?

If i found one for $500 i would jump on it

Nov 11, 2009 at 10:35 PM

swim_r
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p.1 #23 · Store front?

A half page ad in our local direct mail magazine is more than $500 a month, if there is a lot of foot traffic it will be well worth the expense for the advertising

Nov 12, 2009 at 12:09 AM

Lucky_Dog
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p.1 #24 · Store front?

Rent and utilities will be tough, but even tougher will be finding the capital to decorate and furnish the place. I'm still pondering, and the owner is waiting on someone else to make a decision that looked at it last weekend, anyway.

Oh, and the side room is 22x16 with 10 foot high ceilings... cramped, but possible.

Nov 12, 2009 at 01:36 AM

trillium
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p.1 #25 · Store front?

Why can't you shoot in 930 sq ft? I had a studio with < 500 sq ft and I shot fine there.

Nov 12, 2009 at 02:27 AM


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