It seems like these days, everyone with a high-resolution digital camera thinks they’ve got what it takes to turn their hobby into a business. We can see why! With a market size of nearly ten billion, from the outside, photography seems like a great way to earn a piece of this market share while doing fun, creative work.
Despite this, the photography industry is declining at a rate of 10% annually. Since the idea of paying someone to capture life’s most critical moments can often feel like a luxury, the photography business rises and falls with the state of our economy. Unfortunately, as social isolation prevails and people struggle to afford luxuries, like many businesses during covid, the photography business has taken a tremendous hit here recently.
Beyond the struggles brought by current events, many people who open their own photography business quickly realize that it’s not all they thought it would be. Photographers who were previously able to focus solely on their art, are asked to become business managers, tax experts, and more, when they make the decision to go it solo. For this reason, in the first year of owning a photography business, more than 60% of self-employed photographers will give up and throw in the towel. Only 15% of the remaining business owners will make it through to the third year of owning their business.
However, Neshaszda Wright from Neshaszda Z Photography defies the odds and shares with us what it’s like to be a successful photographer, business owner, published author, mom, wife, military veteran, and a philanthropist just to name a few. You won’t want to miss what she has to say!