Industry Analysis and Trends –
The photography industry is
growing rapidly every day. Each day another photographer is taking that huge
leap of faith and turning their passion into a business. Right now, the
photography business is booming, everyone somewhere is wanting to get pictures
taken professionally whether it be for a wedding, birth, party, maternity,
school, or whatever the occasion may be.
I know my business will do
great in the photography business. I will be offering cheaper rates so that it’s
more affordable for my clients and they’re able to get professional pictures
done for their occasion. I think some barriers I might run into is that from
the start I will be using local locations, the clients house, or a location of
their choice for their photos. I know a lot of clients prefer to go into a
studio setting for photos. To get around this barrier I have different offers
and options available to customers that may have an issue with this.
For the future, I know things
are changing daily so I will be staying on top of keeping myself involved with
other local photographers and classes available so I have the most up-to-date
information and tools available to my clients so we don’t run into any
barriers.
Target Market-
My business will be competing
with other photography business around Los Angeles and the surrounding areas.
Personally, I feel my business will be competing against all photography
businesses because I am willing to travel further distances to meet my
customer’s needs. My target audience
will be all ages, both men and women, looking to have professional taken
pictures for the right price.
The market size for the
photography industry is huge and is growing more and more by the minute. I feel
photography is a business would be hard to fail at because people are taking
pictures constantly, but having someone there to take the pictures for you,
edit them professionally, and have high quality photos printed for a fair price
is something everyone would prefer to do. I see a ton of my personal friends
and family go out and buy professional cameras but when it comes down to
editing the photos and having them printed at a local Walgreens or CVS isn’t
what they would prefer to be done.
Since the photography
industry is already booming and as mentioned early is growing rapidly each day
I feel the market will be strong and as long as I put in the work and provide
my customers with fair pricing, professional photos, and great prints I
shouldn’t have a problem building my business successful within the first year.
My business has several
advantages with the target market. Someone is contacting me because they need
photos done that are going to be professional, on time, and memorable. First I
need to find out the customer’s WIN’s (wants, interests, and needs) Once I am
able to establish this I know I will gain a new client. My portfolio and
reviews on my company will be something important to gaining new clients and
keeping them as repeats.
The Competition-
A few of the competitors in
the Los Angeles area specializing in the same area as my business includes,
White’s Studios, Kristine Ovsepyan Photography, and Dual Pixel Studio.
At White’s Studio’s they
offer senior portraits, dances/proms, sports, and business photos, amongst
others. Kristine Ovsepyan Photography offers, newborns, family, maternity, and
children. Dual Pixel Studio specializes in taking photos for marriages,
ceremony’s, party’s, family’s, etc. The advantage my business has over all the
other companies listed is, I include all the service combined between all the
companies at my company. So basically, I am a one -stop shop for all your
photography needs I am trained in doing photos for several different types of
shoots. The big thing my company has compared to the others is my prices are
more affordable making it more comfortable for the client to be able to hire
someone for their photography needs.
I feel I might run into some
barriers because I am new to Los Angeles so social media, blog, posters, and
word of mouth are going to play a huge factor in building up my clients.
Whereas most of the photographers here in Los Angeles have been here for a
while and are well established. (i.e. they have friends and family to tell as
well)
Resources;
Ovsepyan, Kristine, (2015), on September 12, 2015, retrieved
from
Dual
Pixel Studio, (2015), on September 12, 2015, retrieved from http://www.dualpixelstudio.com/
White’s
Studios, (2015) on September 12, 2015, retrieved from http://whites-studios.com/
No comments:
Post a Comment