JCam wrote:
TLC,
Most small businesses fail early on, not because the owner doesn't know how to perform the skills needed, but the costs of living out pace the new business income & costs. That's why the ones that succeed mostly start our as a "second job"--think Apple, HP, & Microsoft! Assuming you start out you go full time, and this is a very optimistic assumption, that after you get ready to promote the business, you spend only 1/2 your time selling/soliciting business and the rest "producing product" that leaves +/- 1040 hours of billing time, less "compliance time (ie paperwork for the governments) per year; at $25.00/hr that's at most $26,000/year before taxes, fees and other cash outflows including health insurance . Can you live on that in FL? I doubt it, and it assumes you are going to work at home and not have to pay rent. Remember too that you should be paid for your time as well as the direct and indirect costs; I suspect you are seriously underpricing your labor value. If you decide to start this business, keep your day job and work a few hours in the evenings & weekends.
Next, and I'm trying to be honest not negative, but I suspect your customer base will not include "professional photographers"; there is a reason they don't farm out their PP, and it's not time or cost, but the fact that their name goes on the pictures/albums and their reputation, ie. future business rides on it; they want to control the presentation. Magazine publishers already have their photographic departments set up or have long standing relationships with someone who does the work for them. You would have to provide a much better reason than a bit lower cost to get them to switch; they have too much riding on the returned product.
Where I think there may be a good market is for restoring/repairing/copying old Family prints. Unless they are a semi-serious amateur or pro photographer, most people don't know anything about PP nor have the inclination or time to learn it just to recover a few old prints, and most all of us have boxes of old prints often going back several generations. Having someone who could do the work for a not outlandish price, may have some real attraction, especially down in FL where you have a huge senior population. Perhaps offer a package price: six recovered 5x7 prints for $100.00 with additional 5x7 copies @ $3.00 each (8x10's @ __?__)? That might have some real attraction and provide some extra income as a part time business (I didn't say under the table) and spread the word about your prowess and ability--us old timers like to talk! If it really takes off, you could expand beyond the local area to the point where you may be able to leave the day job, and may be able to get some teaching work at local schools as an Adult Education instructor.
Good Luck.
TLC, br br Most small businesses fail early on, n... (
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Thanks JCam for the analysis and the suggestion, you packed a lot of good ideas in a few paragraphs. I will consider restoration as a service and your pricing suggestion will be helpful.