Getting Finance for a Photography Business

Do you want to own an Photography Business but your worried you can’t raise the finance needed for paying rent on a building if necessary, stock and equipment including cameras, films, books, sofas, drapes etc. insurance, marketing your new shop/business, accounting for your business and payroll if you intend to employ staff as well as taxes you will have to pay for your business. There will also be other hidden costs along you journey of setting up your business or expanding your photography business.

The first place most people will look for finance is a bank for a bank loan, the problem with bank loans is that the bank will want you to put some of your own money down as well as charge you high interest rates which most start-up businesses and businesses that are struggling will find hard to pay back. Below are some ideas where you could get finance for your new photography business:-

• Your Savings
• Friends and Family
• Bank Loans
• Credit Card
• Home Equity
• Business Angels
• Venture Capitalists

Before you think of contacting a bank for a loan, venture capitalist or business angel investor for finance backing you should have a well laid out business plan. You need to be able to show them that you have every avenue covered from what happens if your business loses money in the first year and what you would do, to what kind of service will you offer your clients, will you do wedding photography if so will you just be doing the photographs or will there be another photographer also will you offer packages including albums, will you do portrait photography will this be in your home, your shop location or in the family’s house will they have the choice and also will you do commercial photography for shows, marketing new products etc.

Business Angels help new businesses with the help of finance and business advice, as they have been there and able to advice you on the best methods to bring in customers look after your customers as well as making a profit. They will also help businesses that are struggling to keep afloat with the help of finance and advice when most banks etc wouldn’t take a bit of interest. They are most likely to be entrepreneurs that have a successful business of their own and they will use their money to help your business succeed and make returns on their investment.

Venture Capitalists help larger businesses with problems of finance, they will offer financially help and advice but will be more of a silent partner than a business angel who will get more involved.

If you’re struggling to write a business plan for your photography business to show to business angels, venture capitalists, banks then we can help by tailor making your own business plan for your individual business.

So if you want financial help to start-up your own Photography business or want financial help for your business, angelstartups is here to help. We are able to advice you on the best way to finance your business and put you in touch with business angels or venture capitalists to help your photography business mature.

For all your Raising Finance needs visit Angel Startups.