What should I check about the studio space and props of a photography business?
Walk the studio and match every prop, backdrop, light and piece of furniture against a written list, noting condition and who owns each item. Then read the lease for what you may change or sublet, since the space shapes the style and the client base you are buying.
Do the walk-through at a working time, not a quiet one. Watch how the space is used when a session is under way: how the backdrop changes, where props are stored, how long a reset takes. A cramped space can limit the number of sessions a day more than the calendar suggests.
For the props, ask which items belong to the business, which belong to the photographer personally, and which are rented or borrowed. Inspect the lighting and stands for wear and test them. Ask to see client galleries made with the larger props, since a signature look may depend on items that are hard to replace.
On the lease, ask your lawyer to review the term, renewal, rent changes, restoration duties and any limit on use. A studio built for one landlord’s ceiling height or street frontage may be hard to move. Last, ask whether the client images and release forms are in order, and who holds the rights to the photographs. Your lawyer can advise on that. Take photos of the room as it stands, so that later you can show what was included when you agreed to buy.
Key takeaways
- Write an inventory of props, lights and backdrops and mark which items are owned outright.
- Watch a real session to see how the space limits bookings.
- Have your lawyer review lease renewal, restoration and use terms before you commit.
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Due diligence
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernment13 terms you need to understand before signing your commercial real estate lease
- 03Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
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