Should I buy an existing photography business or start one?

Someone with a steady side business may wonder about this. The answer turns on what you want on the first day. Buying a studio can save time on equipment and contacts, but it brings someone else’s obligations. Starting is slower, but every contract and habit is yours. The useful comparison is what each route gives you on the first day.

What an existing studio can transfer

List what the seller owns and can pass on: the equipment, the studio lease, booked sessions, school or corporate accounts, the website and reviews. Then ask which items depend on consent, such as the landlord or a client. Each one should be identified, because a business with a strong name but few transferable accounts leaves open what transfers besides the equipment.

When clients follow the photographer

If clients choose a photographer for a personal style, a sale does not guarantee they will stay. Read about how to tell whether a photography business depends on its owner. If your work looks very different from the seller’s, you may be paying for a client base that does not match what you plan to offer.

What starting asks of you

Starting from scratch asks for a portfolio, a way of finding clients, a place to work and steady time spent on marketing. BDC’s business plan template, listed below, is one way to think through what you would need. The same question applies in other trades, as in buying a party rental business or starting one.

Questions to settle first

• Does my style match the work the existing clients booked?
• Which parts of the studio would I use, and which would I replace?
• Can I carry the existing commitments while I build my own?