Seeking business partners to start photography studio

[evertonstudio]

Hi fellow photographers,

I have a complete set of photographic equipment that includes 4 elinchrom lights and accessories etc.

I have also found a few available shophouses near chinatown that are suitable for setting up a studio. My favorite's a ground floor unit at Everton road (near Outram MRT) with about 1500 square feet of space. The rental's about $2000 a month and it will cost about $8000 to renovate the place.

I'm looking for a fellow photographer who is interested to co-start a photo business with me. For me, I'm primarily focusing on bridal photography. This area seems to be a hotbed for bridal photography, as i see quite a few bridal photo studios here and i see wedding couples with photographers by the streets now and then (it appears that this is the oldest conservation area in Singapore, so there's plenty of photogenic, rustic, cultural backdrops)

So if you interested to co-start a photography business, be it if you are doing weddings or not, please email me and we can start talking

Like i said, the basic costs of setting up is $4000 (first month rental + one month deposit) and $8000. If we split evenly, you need to be prepared to invest at least $6000 for this business to be viable. I'm open to more than one partners, this will reduce our individual investment costs but we will have to manage the sharing of studio use better (to avoid clashing schedules)

My email address is evertonstudio@gmail.com

Cheers,

Ming.

 

[devilsjaw]

$8000 Includes Equipments?

 

[evertonstudio]

$8000 Includes Equipments?

Nope. Doesn't include studio equipment except for wall fixtures like bracket mount for backdrop, makeup mirror and lights etc.

The $8000 estimate is based on my previous experience working for other studios. It's primarily the costs of making partition walls, painting, doing up the floor, decorations, curtains etc. Just like moving into a empty house and you need to do some basic renovations to make it liveable.

I have my own set of equipment, which i don't mind sharing with other photographers but I prefer that they get their own set of equipment eventually.

talking about this. we can arrange for either sharing of the studio space (where we run separate photo business, i do bridal and you do portraiture, for example), or we can share business where we split profits and costs (and losses, touch wood )

anyone interested? Just got a reply from an experienced photographer with a strong portfolio. Like to meet more like-minded people.

 

[kenele]

What about the operational cost?

 

[evertonstudio]

Monthly overhead costs is $2000 (rental) + $400 (electricity & water bills).

So it's a min. of $2400 to be split evenly ($1200 each min)

Other costs will be like payroll (hiring assistants, optional), and ad-hoc costs like replacement of paper backdrop ($100 per 9-feet roll) etc. I'll say it will be safe to budget $500 for these ad-hoc costs and about S$1000 to hire assistants on part-time or apprentice basis.

I'm looking for partners to either co-share the place ( i.e. we operate separate photography businesses) or to co-own and develop one business together. Bridal photo studio anyone?

 

[wildstallion]

From the limited business knowledge that I have i reckon setting up as a partnership with people you do not know is a bad idea. As a partnership each partner is resonsible for the other and you will have unlimited liability (unless you form a limited partnership). I would reccomend a partnership to people who ideally know each other and trust each other. Your other option of seperate businesses in the smae building is a good idea though if u can come to some agreement on how to share it.

 

[astroboy]

Yes, wildstallion knows what he is talking about. It's best that u do it alone and get a smaller place/lower overheads etc. Start small, grow at a steady pace. That way everything is under your control. There is a Chinese saying literally translated: "you may know a person's face but not his heart".

From the limited business knowledge that I have i reckon setting up as a partnership with people you do not know is a bad idea. As a partnership each partner is resonsible for the other and you will have unlimited liability (unless you form a limited partnership). I would reccomend a partnership to people who ideally know each other and trust each other. Your other option of seperate businesses in the smae building is a good idea though if u can come to some agreement on how to share it.

 

[evertonstudio]

Thanks for astroboy's and wildstallion's advice of caution.

like astroboy said, it's quite a "Chinese" way of saying, and way of doing business. Note that Chinese businesses tend to keep within the family, hiring own relatives to mend the business.

Whereas international or western businesses tend value capabilities more.

I don't wish to deviate from the main point of seeking potential partners. let's just say that nobody's born knowing everybody. It takes time to build trust and relationship. In seeking potential partners, i'm merely trying to widen my circle of contacts and explore more options.

let's be less skeptical and give it a chance