I previously did an episode about my studio, White Space, and the response was overwhelming. You all had more questions about owning a studio, and this episode is going to answer all of them.
If you’ve ever been interested in what it looks like financially to open and run a studio, how long it took for us to make a profit, how we found the space, and what business model we like most so far, tune into this episode!
Here are the main things discussed in this episode:
- Initial investment into the studio
- Initial changes we made to the studio
- Was it difficult to find the space?
- Expenses to keep the space running
- How to make sure we are bringing in enough revenue
- Having consistent long-term renters and members
- How long it took to break even and profit
- The passive income of the studio
- Splitting my attention between different areas of my business
- Do I ever get tired of the same space?
- Specifics of how we manage bookings and our automations
- Renting for non-photographers
A few highlights from this episode:
- The issue with a lot of things was the unpredictability and seasonality.
- Memberships are great stepping stones.
- After a first challenging year, the studio pretty much runs itself.
- I’m proud of what we’ve done and the systems we have in place. A place we shine is through our booking process.
White Space has brought a lot of learning, but it’s been a fun adventure for my husband and me. I hope this helped answer any questions you had regarding owning a photography studio!
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