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Will I keep going or am I wasting my time?
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Just need your advice!
I’m working three years in the Portrait/wedding business now.
2010 was a busy year for me, BUT was working on my accounts to see how much income i got for the year. I’m kinda confused and feel like iIm wasting my time!I took in €17K in 2010.
Then I need to keep aside the TAX which is 20% or €3,400
BUT with all the EXPENDITURE for the year suppliers, printers,etc. I only took out €3K for my wages from 2010 which I think is very little, now I have €4K left in the bank now. (basicaly the taxmans cut)Am I wasting my time with the long hours and working 7 days a week? I did MY weddings (around €1,200 a package), Album Design AND retouching for other Photographers?
Should I look for Part-time work? or have you any other Advice for me? I LOVE my work! As you can see how I did through the THREE years Photography on http://www.johnnycorcoran.ie” onclick=”window.open(this.href);return false;
I’m feeling abit down as I thought I’m doing really well
:-(Johnny I think the part of your statement that stood out for me was that you love your work
so I think you should stick at it as there is not many who can say this
Perhaps check out the reason you only cleared the amount you did and work from there
can you source better and cheaper suppliers? Are you pricing yourself right?
Are you doing your own accounts? I know a lot of folk who didn’t know they could claim certain things as tax
and even small things add up.
What about a bit of freeLance for your local rag,this can get a few extra pennies in, every little helps(as they say in tescos)Stick at it and don’t let the head drop
CathalI have said this before and heard it said before:
3 types of Photographer:
good photographer, bad business person….. will go hungry
bad photographer, good business person….. will make some money
good photographer, good business person….. will make a killingFirst of all talk to an accountant, you only pay tax on the your net income after associated business expenses.
Secondly look at your business plan, and re write it, I had one when I started, re-wrote it after a year and again after two, the business plans set out aims and objectives as well as specific ways of achieving them.
Did you work prior to setting up? or since?A decent accountant will make you a happy man. They are not necessarily expensive either.
Hi and cheers for the reply!
Yes i do have an accountant. Was been told that whatever my income come then work out the 20% and leave it in the bank for the TAX!
I will give my Accountant a call about those “NET income”I will do another look at the better and Cheaper Suppliers and maybe changing my price-list.
So Just checking,
For Wedding I’m using Graphistudio cos I love working around Photoshop and storybook.
For Portrait I’m using GMS Print.Do you know any Cheaper but good Quality than Graphistudio and GMS Print?
Check out Highcove, I find them one the cheapest album suppliers out there that provides a high quality product and better still they are based in Ireland.
johnny
give me a shout when you get a chance, i might be able to help you bring down some of your costs
does the 1200 inc the graphic album??? is so that seems a little cheap
Steve>
Defo give you a shout when I get a Chance…
My Wedding Packages is €1500 (My Mistake on €1200). As its for 25x35cm Album, 3 Parents Book (10×13 cm), DVD Slideshow of the Album, Calendar and 2 Key rings!MFleming>
Will Have a look at those Highcove! I remember that I was looking at those albums at the photos show!that to me seems cheap, have a look round other wedding photogs to see what they charge
from what i know most of them only offer the graphi stuff on the top packages
and something less expensive on lower packagesjohnnycorcoran wrote:
Steve>
Defo give you a shout when I get a Chance…
My Wedding Packages is €1500 (My Mistake on €1200). As its for 25x35cm Album, 3 Parents Book (10×13 cm), DVD Slideshow of the Album, Calendar and 2 Key rings!Johnny, I gave up posting here nearly 2 years ago due to abusive mails I got from contributors telling me I was “useless and a rip-off merchant” and was trying to “inflate the price of photography” but if I can help in any way I will.
Looking at what you offer in your wedding package I calculate that I would have to charge a minimum of 2250 for that if I want to stay in business and stay profitable. Now I do not have a mortgage or rents to pay but I have to have a wage that is in line with what the industrial average is or I am not at the races much as I enjoy the work.
Presently times are tough and most of us are just surviving but test the market in your area and see what market prices are being achieved.
Keep in mind that there are always hidden costs and expenses that we all forget about.Feel free to give me a call and we can have a chat if you so wish.
gerry
great advise firstly
secondly dude great to see you posting again
if you have issues with anyone giving abusive stuff send me details i will beat them about the head with a big stick!!!! as that is not tolerated here
Hi Johnny,
The question you ask is being asked by a lot of people in business in Ireland at the moment.
I am into my 23rd year with a staff of 4 and this is a very difficult time for most businesses.
You have had some very supportive replies and I hope things work out for you.
As Cathal says “…don’t let the head drop”I am also sad to hear Gerry has been subjected to abuse from, I assume, fellow members.
One of the things I like about the site is that the members seem to be so polite and supportive.
Whoever is responsible should be ashamed of their actions.Good luck to you all in 2011 and beyond and well done to Steve for offering to use the “big stick” any member who abuses another.
Cheers,
John.Johnny, I gave up posting here nearly 2 years ago due to abusive mails I got from contributors telling me I was “useless and a rip-off merchant” and was trying to “inflate the price of photography” but if I can help in any way I will.
Wow Gerry Sorry to hear that there are those that say things in emails rather than say it in the open forum. Then again i’m really not that surprised. When you see people who will just about say anything as long as it does not upset their online buddy. crap has become good.. good in ignored. and for free is the way to go.
OP— up your prices or give less for the price you charge
“up your prices or give less for the price you charge” …… not always the answer and sometimes can reduce your profitability, work smarter improve your work flow, work out what work is he most profitable and try push that area, add ons can be good earners, think outside the box
Of course you are right Brian.. Its more complicated than that, I think part of Johnny’s problem is that the weddings business can be mostly word of mouth and his price for what he charges is also word of mouth. So if he does a wedding for his present price and then tries adding €500 some people will be thinking they are getting ripped off saying sure Mary Jane got it for only €1,500 ..Which can be a lesson to us all about getting prices right from the start.. Johnny sorry for talking about you in a third party sort of way….. I think the offer from Gerry of a phone call and chat would be good as he’s in that business and might have words of wisdom to offer about changing your business paln
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