How To Open A Photography Studio : Your Roadmap to Opening a Rentable Photo Studio and creative event space
It’s a dream come true to be able to open up my own photography studio for rent in Dallas,
but it wasn’t necessarily a seamless process with no setbacks. I know that these “passive” income opportunities in the short-term rental space have gained a lot of popularity over the last few years, but they aren’t totally as passive or simple as people make them out to be. I do think owning a photography studio to rent (and to use for yourself on occasion too) is a great opportunity to make money in a relatively easy way and also help serve your creative community. That being said, you’ll want to do your research first and make sure you’re setting yourself up for success.
Over the past 7 years working as a Dallas branding photographer, I’ve been able to pinpoint what spaces work best for my clients and what other photographers would be looking for too. The three key elements photographers need are: tons of beautiful natural light, a traditional blank white wall canvas, and versatile lifestyle spaces. While many studios offered one or even two of these features, I found it hard to find a space that offered all three. This is why I created Brightside Studios - a space that offers all three key elements in Dallas.
So how did find the right space, manage the financing of that space, and deploy a thoughtful marketing strategy to ensure its success? Let’s dive in together. If you’re interested in opening your own photography studio, follow along for a simplified step by step roadmap.
Step by Step: How to Open a Photography Studio for Rent in Your City
Budgeting for your Studio: Launching a photography studio means you’ll have to do a lot of upfront financial planning. Not only do you need to have a solid understanding of your monthly operating costs, you’ll need to make sure you’ve allocated enough funds to get the space up and running. This could mean $10,000 - $50,000 depending on your space (more on this later). As for the ongoing expenses once you’re actually in the space, you’ll need money set aside to cover the monthly operating costs for the first few months of being open. Yes, you may get super lucky, already have a loyal following, or know every photographer in your local market - but it’s going to take some time to get the word out about your space. Plan on covering some, if not most, of your operating costs out of pocket for the first few months you’re open. Your lease is going to be your biggest recurring expense, so be sure you’re taking into consideration what you can charge for the space and how many bookings you’ll need to break even. The upfront costs of opening your studio will vary dramatically based on where you’re located, how big your space is, how much reno work you need to do, if your landlord is allocating any tenant improvement funds to your build out, and if you found a space that’s already spiffed up and ready to go. For Brightside Studios, I had an empty shell (clean, painted, etc) but I wanted to build out a kitchenette as one of it’s biggest selling features. So that added an additional $6,000+ to my upfront costs. Also make sure you’ve identified things like furniture, backdrops, lighting equipment, window treatments, security cameras, etc in your upfront budget. Feel free to put some items in your Amazon cart while you’re still touring spaces so you can get accurate prices on what things you’re going to put IN your space will cost you too.
Assess the Market you’re Getting Into: An important part two to the budgeting/financial element - you’re going to want to assess what other studios are charging in your area and what they have to offer. It’s important to ensure that you’re asking a fair price for your space. Depending on how large it is, what props it offers, if spaces are styled, if photography equipment is provided, etc., you may want to charge more or less than your “competition”. I say competition lightly here because each studio space is unique and we’re all in this together - trying to offer really cool and useful spaces for creatives. So just do a pulse check on what else is out there and what they are offering to be sure your pricing is fair. Also, use this market assessment as an opportunity to research spaces and make yours different. How will you stand out? What will make your space unique? Why would someone book your space vs another space? Also, if you’re not a photographer - go take a couple photographers out to lunch or for coffee in your area and ask them what they’re looking for in a rental photography studio. You need to be sure you understand your target audience and their needs.
Select an Ideal Location: Location is key when it come's to running a successful photography studio. You’ll want to be mindful of what city you’re in for two reasons - 1. this will impact where you show up on Google maps. I intentionally sought a Dallas zip code for my space vs a neighboring city. This is because I know Dallas is a more popular area and more frequently searched for on Google maps. This helps me on the organic search front. Number 2. - this will impact pricing and how far potential renters or clients are willing to drive. Leases are WAY more expensive in Dallas vs bordering cities, but that was something I was willing to deal with because there is a larger photography community in Dallas and my studio is super easy to get to - not far from downtown. Also take into consideration things like parking, accessibility, foot traffic, visibility, safety, and neighboring buildings when you’re shopping for a home for your photography studio.
Design an Inviting Space: Now that you’ve got your location locked in, it’s time for design. Designing an easy-to-use and aesthetically-pleasing studio space will draw people in when they see photos and videos of your studio listing/social media online. Lighting is paramount - whether your studio will be a natural light studio or traditional studio that requires artificial lighting - you need to be well versed on what a photographer or videographer needs for a successful shoot. You cannot overlook lighting. Then comes the aesthetics. Is this going to be a blank canvas studio space? Are you going to offer a selection of props and furniture to be used? Is your space going to be colorful, retro, modern, etc.? Are you going to curate lifestyle spaces and vignettes that photographers can utilize? What essential amenities are you going to have - seamless backdrop options, c-stands, lighting modifiers, etc. that facilitate seamless photo and video productions? This is really the fun part - curating a unique space that offers something that other studios don’t.
Creating an Online Presence: There are a few key pieces to your online presence that you’ll want to address to ensure you are representing your space well online and attracting bookings. It takes a while for your website to get indexed by Google so be sure you hop on this ASAP - start your website before you’re done building out your studio. You’ll want to have an easy booking platform on your site - I use Acuity which is now owned by Squarespace. Super seamless option, you can link to your preferred payment processer, and it also offers an awesome booking calendar feature that you are able to fully customize. Your website should also have high quality photos (and video too) of your space in its entirety. You want to be sure all angles are captured - so someone fully knows what your space looks like and they feel good about booking it. The pictures you show should be realistic and accurate so there’s no room for misinterpretation or disappointment when a client walks into your space. It should look exactly as it does online. You’ll also want to decide how you’re going to get the word out about your space and get bookings too. Will that be entirely based on an organic Google search? Or Instagram? TikTok? Will you run paid ads? Or are you going the organic route? There are also other booking sites available, such as peerspace.com, where you can make a free listing for your space. They do take a fee each time someone books your space, but it’s a great way to get your photo studio in front of more eyes. Most of my bookings at Brightside Studios come from my website, but it is also listed on Peerspace and gets good traction there too.
Here’s a little bts video of the before and after at Brightside Studios
This is just a very appreciated version of my journey opening Brightside Studios in Dallas, but I hope this offers some guidance for you to get you started. I coach photographers and creatives on how to run a successful business, including those seeking help on their studio rental journey. If you’re interested in having some 1:1 help, feel free to check out my coaching page here and let’s connect!
With love,
-Monika