Photography is a fun and exciting business, and helping people make lasting memories is a rewarding experience for all involved. It also tends to produce relatively low profit margins, especially considering the high cost of the equipment and space needed to make a living. While jobs like professional headshots, product images for web and print advertising, and school portraits help keep the lights on, booking high-paying gigs like weddings and corporate events is a must if you want to generate enough income to operate profitably and enjoy a comfortable lifestyle.
Studios are increasingly offering a larger suite of services and packages in order to attract these high-value clients, who typically desire more than still images to commemorate their events or promote their professional offerings. By adding videography to your suite of services, you can offer one-stop shopping to couples who want tasteful video of their weddings, corporations that want to record executive speeches for shareholders, and businesses that want to add creative flair to their marketing. While all of these customers may in the past have hired separate photographers and videographers, studios eager to capitalize on the growing popularity of video are earning more new business by offering comprehensive photo and video packages.
The benefits of adding videography services to your photography business are clear – you earn more by offering your customers a service they would otherwise seek elsewhere, and they gain the simplicity of package pricing and fewer vendor relationships to manage. For many studios, however, the cost of new video equipment is a barrier to expanding into this growing, profitable market. While you may be able to use some of your existing tripods, stands, memory cards, and lights, there’s no way around the need to acquire high-definition video cameras, batteries, and power supplies.
The cost of these devices can easily act as a roadblock to an aspiring videographer; fortunately, there is an alternative. Financing your videography and photography equipment with a provider like TimePayment lets you stock up on gear and start doing business right away, while giving you the luxury of paying for it in manageable monthly installments. By financing your photo and video equipment, you can grow your business, book more higher-paying gigs, and pay for your expanded setup with the profits from your newly minted full-service operation.
To learn more about leasing your photography and videography equipment, the financial products available to you, and how you can profit more by diversifying your offerings, contact a representative of TimePayment today.