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Forum nameBiz Ideas
Topic subjectRE: Photography Business Idea
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=103&topic_id=779&mesg_id=781
781, RE: Photography Business Idea
Posted by bizdev, Sun Feb-18-07 02:54 AM
It does sound like a viable business, but probably not on your timeline. You want to both leave your current jobs and jump straight into a new business start up without having enough savings or capital to get you through the critical first one to three years.

You need to keep in mind that you won't land those minimum 15 shoots from day one. It could take quite some time to get to that level of stability.

Since your other half would be handling the business end of things (accounting) and the web site, couldn't that part of the business be handled part time while he keeps his current job?

Another option would be applying for a microloan through SBA intermediaries. You will need to provide collateral.

Do you have access to a home equity loan or line of credit?

Another thing to consider is scaling back you current standard of living while you build your business.

You've done a good deal of research already, but have you completed your formal business plan? That will be a necessity. It will help you see when you might reach break even and how much you will need for start up costs. It will force you to create a complete marketing plan (which you've already given a lot of consideration). It will give you a clear, line by line picture of your cash flow for the next 3 yrs.

You will find much more info on your start up procedures in my One Stop Business Startup Kit (see below), which also contains a step-by-step manual to show you how to write your own business plan with simple, proven techniques.

Keep researching, this could be doable with some careful planning. Good luck to you!