Are Wedding Photographers Recession-Proof?
Are wedding photographers recession-proof? I'd like to hear your comments.
posted by Mike Colón at 9:28 PM
Thursday, April 23, 2009
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Mike Colón
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Newport Beach, CA
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17 Comments:
Based on the last 12 months...I would say yes, but things can always turn on a dime.
on the East Coast of Canada....yes! If anything, it seems more of a reason to celebrate and indulge themselves.
I am going to say no to this one ...with conditions. What we do as wedding photographers is dependant on other people (our clients). Without a doubt, clients will look at their spending more carefully during these days however one thing that we can do is to target a more higher end clientele where the affects of the economy have less of a direct impact on their finances.
Personally I have felt the effects of the economy, I feel like people maybe settling for an "ok" photographer instead of one that maybe a little more expensive. I am thankful that I have "enough" to sustain my business and to even see some growth, just not the growth I was anticipating. My heart hurts for people that maybe really feeling it due to this being the sole means for provision for their families. I am fortunate to have a husband who is the main provider for our family. I have really taken this time to invest in launching into "the next level", bought a few dvds from your collection Marketing to the high end bride has been really helpful, I have rebranded myself, and spent a lot of money on marketing and I have ALREADY seen an increase. Now I will enjoy what God has provided for us thus far and do the best with what we have on the books this year.
I think in order to make it we need to go back to basics...such as going the extra mile to make sure each client is very happy with our services. Make each client think they are your only clients...
I seen lots of work come because I gone the extra mile...you need two miles this time.
So to answer your question, yes we are if we are willing to go those extra miles...no if we forget.
Not at all Mike! It's basic supply and demand. Other photographers such as me (who primarily shoot commercial work) are moving into the wedding business (the barriers to entry are low) because of the economy. This in turn will drive the price down.
Also, there is the issue now of programs like Aperture and Lightroom that are user friendly and can create advanced effects on otherwise average photos. Therefore amateurs cab enter the wedding market.
At the high end people like you are somewhat safe... it's never crowded at the top theory.
Regards Jason
http://www.wallisphoto.com/
I think we are not. I know that my business has really taken a hit. I do not know if it is different what cliental you have? I generally shoot the average american. I am an average american and I know things are tight for me. I just look upon this time as reflecting on the things that are really important and reevaluating life.
God Bless, Jeray
I would have liked to think that I was but, getting people to part with their hard earned money has been a little more challenging lately. I think it also depends on your clients. What I have done to combat the recession is what I believe most companies are doing, and that is to slightly lower my rates. I was able to go into Home Depot the other day to purchase a new window and I did not want to pay what was advertised so I did my best and was able to get a %15 discount. I think that companies are willing to do almost anything to get a person to whip out a checkbook or credit card, but they need t be a little flexible.
So, speaking strictly about wedding photography, I don't think we are recession proof at all but if we are creative about our services and rates, we can manage this tougher time.
Wow Mike, what a loaded question!
So many factors, but I'll jump in with some general ideas here.
People will continue to get married, recession or not. So in that view, the market for wedding photographers will not change.
Spending patterns do change, however. According to theWeddingReport.com, in 2008 the average bride spent $2137 on wedding photography (including the engagement session). In 2009, that price has gone down to $2016 - a 5% decrease.
Doesn't sound like much, but at 2.2 million weddings (up from 2008, btw) you're looking at a $268,101,394 DROP in spending. That's quite a chunk of change, and that's ALL just photography!
Where did it go?
Well, some brides are booking smaller packages, others may be using less experienced photographers who charge less. In the high end market, you may be getting clients who are postponing their wedding, bringing the average down.
I could go on with techniques that we've employed to help combat this (our sales are up, both in averages and numbers) but I'm assuming you're going somewhere with this post. ;-)
Interested to see where you take this!
Shan
831 Photography
Yes for sure in Canada (Montreal).
People afraid to invest and everything seems on hold.
I would like to hear if people are doing anything to address the recession in their businesses. I think the theory that the people in the middle (not cheap & not high end) are hurt the most might be true. This is the first year that people actually have asked for a 'deal.' I like David Jay's suggestion that we use the time to be better people & make better businesses. Money does help.
hey mike,
I was just having this conversation with an older local photographer. I believe that we are recession proof, but that to hold our prices, its our job to educate brides on the reason to continue to pay a premium when the economy and finances scream cutting prices. We need to help them understand the work that goes into a wedding so that we are able to keep our prices where they should be.
Just because there are a large number of "weekend warriors" charging $500-1500 for full days, doesnt mean that we are going to loose our business to them. We need to work harder to target our primary market.
Its these times that WHO we are matters more than WHAT we are. there are pleanty of people that do WHAT we do, but they cant be WHO we are!
I feel like it depends on your market too. I have had to get a second job, so for me personally I don't think we are recession proof. But then again, I am still relatively new to the industry, so that might play a role too.
I just want out of it! :)
I would argue that it is the type of person rather than the type of profession that is recession-proof. I would imagine that nearly all if not all industries have a reduced cash flow -- what do you do to overcome that -- that is what makes one recession-proof. A challenge like this is a growing opportunity -- not an opportunity to cry in our beers.
Although I was optimistic to begin with I'm now starting to feel it a little.
In the past month I have had two couples cancel completely (even though they lost their deposit), and today I've had a request to postpone a date until 2010. These have all been because either bride or groom has been made redundant.
Maybe if you can attract a more affluent clientele then you may be able to avoid cases like this.
In part! People are shopping, so there is photographer out there that will have to cut prices to get certain clients. But if you work on the 10k range of clientele, I would say you are recession proof, from ym own experience, these clients are not really suffering from these hard times. And most of my 2009 weddings were booked in 08, and 2010 is still a long way to go, so we can't predict what will happen for next year.
so in parts. I would say yes, but that depends on your niche.
I made my mind up to not take part in this so called recession. I trust in my Lord Jesus and he see's me thur.
I have more wok this year than last year.
But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you.
Matthew 6:33
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