7 Ways to Create Multiple Streams of Income as a Photographer
We all love to make money, and the more revenue we have for our businesses, the faster and easier we grow in our career. However, one way to increase our income is to make sure we have several streams that pour money into our businesses. As a Photographer, there are several ways you can utilize to make extra income and in this video. And to be specific, 7 Ways to Create Multiple Streams of Income as a Photographer.
1. Videography
I have decided to invest most of my revenue into video because the opportunity that video has is huge. We will create another video talking about videography as a business so not to worry.
If you are able to also take amazing videos then you will be the most sought after creative in your area.
Just to give you an example, you can earn 100k in revenue just doing livestream for a client for only two hours. you can earn 150k shooting videos for a client in 3 days, all travel and accommodation expenses paid for. Those are just examples from my experience.
If you can acquire the skills of video creating and editing on top of being a good photographer then you can earn as much money as you desire in this industry.
Now because of the opportunity I saw, I started a production studio/company/house called Artlink Agency and we have worked for many corporate clients and celebs including ABEL MUTUA aka Mkurugenzi and it has been amazing.
To see our production, visit our website, www.artlinkagency.com and see what we have done.
2. Multiple Genres of photography
Now I know that I always talk about having a focus. And yes that still remains. However you can practice several genres as long as they are related to one another. Let me give you an example of my photography business.
I am a wedding photographer charging 90-180k a wedding. However, my clients are starting families and they need family pictures, portrait pictures, Maternity pictures, studio headshots, birthday pictures for themselves and their children etc.
For example, there are several families that I photographed their wedding in the year 2017 and up to now, I am their official photographer for all their events and portrait needs. That is what I mean to make us understand.
As you can see, I am utilizing more than one genre of photography and getting more money.
If you are a documentary photographer and you travel with organizations creating images for them, you can use that opportunity to take landscape pictures and you can make money from them using point number 7 in this video and that will have an increase of revenue to your business.
So, try see how you can increase your income by being in relating genres of photography
In terms of numbers, for weddings we only work on weekends most of the time, but for portraits, they can earn us 40-70k a month in revenue only during weekdays. So try it out
3. Prints
I always encourage my clients that pictures are not meant to stay in drives and computers. They are means to be seen and enjoyed by printing them and if possible, printing them big. This led to my second source of income. People love seeing most of their best memories on their home walls and office tables. It makes them happy. Why can’t we take advantage of that? Prints are in several categories. We have boards which others call mounts, Canvas, framed pictures, metal plates, calendars and so on.
Once you have a client, you can upsell them on prints and they will gladly buy if you do the selling the right way. We are going to learn how to sell and get paid more that you can imagine in our future videos very very soon. However back to the point. Most of the prints that get ordered in my business are boards or mount boards.
The income that I get a month approximately from boards is around 15-25k. That is when we focus on prints in a month. Due to our nature of shoot sometimes we don’t do much prints but when we do we can get quite some cash.
4. Hiring out equipment
I know I am going to a very sensitive part of our career and that is our equipment. However, let’s see whether there is an opportunity for you here to get some more income for your photography business. If you have equipment that most photographers need and they don’t own, then you can earn quite a lot per month when hired out.
Let me give you my example with only one camera. One of the cameras that i use is the Sony a7iii, a full frame beast of a camera. To hire this camera out I charge 4000ksh a day. I have lights that charge 1500 a day per light.
If one of my friends photographer decides he wants my camera as a B camera for a day and two of my lights, I earn 7k a day. If every week they are hired out, I earn 28k a month. And just for math, I have two other Sony cameras and other different lights including video lights.
However, to save your equipment, only hire your equipment to your colleagues or to a person whom you trust or know. Even if you called me now in need to hire a camera, I can’t hore it to you unless I know you or it has to come with a minder who is one of my production assistants and he will take care of it.
If you thinks you are comfortable, that could be another source of income
5. Editing
This is another way to earn extra cash. If you love editing images, there are so many people like me who can pay you to edit images e.g. after an event or a wedding.
I used to get paid 3-5k to edit images for a photographer. Remember editing is a lot of work and so many photographers don’t want to use their time on a computer for 3 days editing.
Today I pay an editor 4-7k to edit wedding pictures for me and 7-10k to edit a wedding video for me. If you get 4 clients a month, you are earning 20-30k a month that your business did not have.
If that is something you would want to try out go for it and it could be another source of income.
6. Teaching
I listen to one great film educator called Parker Walbeck and he always says. “There is always someone who is below you that would want to be where you are and learn from you”
Personally, I love teaching and training and so I have created a business solely for training. Now before we get too excited, let’s look at the math. If you think you are at a level you can teach and you have the results for it, then go for it.
To train you I charge around 15-30k depending on what level you are at and what level you want to get at. If you get 2 students a month each charging them 15k then you have 30k as a business revenue as a photographer. However, its good to make you know that creating educational material is very difficult and hard work but when you do, you can earn quite a lot.
Because of the love for teaching, I started a business called Foto Lounge that trains photographers and Filmmakers from creative basics to how to run a successful business. Actually we are now creating a course that can be accessed at an affordable price for anyone in love and passionate about photography.
You can visit our website and see what is in there.
Back to the point. If you can teach, start and you will have another source of income. Just be sincere and work hard to have value for your students
7. Licensing or selling images
Remember when we talked about a documentary photographer and how he or she can take landscape pictures as a secondary and earn from them? This is how they can earn. Photography is an art and it is beautiful. People literally buy beautiful landscape and wildlife pictures for their home and offices. I have not started this but I will soon when I go back to travelling.
However, there are two photographers in Kenya I know that do that using wildlife and landscapes. One is Evans Ogeto . They take amazingly beautiful images and sell them in prints and people buy. That is another source of income that you could try and see how much you can add to your bank.
I have not given figures to brag, I have nothing to gain from that, but i wanted to show you how realistic these streams of income can be to your business and help it grow. If you have any opinion, comment or questions, the comment section below is yours to us and put them down here.
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And until next time, remember to learn, practice and create and if you have any further questions please let us know. Peace
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