Photography is an art and anyone who has the eye for detail can take up photography as a career and start own business or company. The most important investment here is to get a professional camera and right lenses. Other expenses include lighting equipment, a laptop, miscellaneous devices, a studio on lease and expenses related to social media and conventional advertising.
With the rise of internet usage and social media, photography has got new dimensions with even dedicated online portals and social media sites where photographs can be uploaded and sold. The best part about photography is that it is generally pursued by people who have an interest in it and if not professionally qualified they know enough about the art of the trade. A studio earns good money and as a professional photographer one gets lots of opportunities to travel, not only within the country but abroad too.
Even if smartphones and selfie are the way of life now, the demand for imaging business and photographs are still rising especially because of events like weddings, cultural activities, corporate functions, real estate projects etc. As per industry experts, the demand for analog photos has not faded out with the onset of digital photos. It just took a backseat but has now come back with more ferocity.
So, if you are creative enough, love to travel and have the knack for capturing shots then this is just the ideal business for you to get into.
What are the current trends in the photography industry in India?
As per records, in 2008 the revenue of photography services in India was 267 million US dollars. The revenue from the same industry rose to touch 363 million US dollars in 2017 and is projected to touch 379 million US dollars in 2018. The photography industry is growing at a rate of 15-20% as of now.
What are the mandatory registrations required to open a photo studio in India?
The basic registrations that need to be formalized as soon as the business plan is ready to be implemented are:-
- Enlisting the business entity as defined by the Indian laws. For a photo studio, the ideal business type would either be a sole proprietorship or a partnership firm or an LLP or an OPC (One Person Company). In the former two entities, all assets and liabilities of the company lie with the individual owner or the partners respectively. In the latter two cases, the business has its own individual identity and hence the owners or the promoters have limited liability.
- Get the necessary legal documents ready – the Partnership Deed/ Partnership Agreement/ Memorandum of Understanding (MoU)/Articles of Association (AoA).
- The Digital Signature Certificate (DSC) and the Director Identification Number (DIN) need also be applied for simultaneously.
- Apply for the Trade License that is an official approval from the local municipal authorities to carry on the business of photography from the mentioned premises. This license is a way for the state government to regulate businesses and prevent such trades from operating that can cause health hazards and nuisance in the locality.
- Get the GSTIN number after applying online at https://reg.gst.gov.in/registration/. The documents required for the GSTIN are:- the Partnership Deed or the Certificate of Incorporation; photos of promoters; proof of appointment of the authorized signatory; proof of authorized signatory; bank account number, the address of the branch, the address of account holder and transaction details.
- Get the Aadhaar Udyog from the Ministry of Micro, Small and Medium Enterprises. A photo studio will typically fall under the Microenterprise. A microenterprise has been defined as an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh for enterprise involved in manufacturing or production. For enterprises engaged in providing services, a microenterprise is one where the investment in equipment does not exceed Rs. 10 lakh. Though this registration is voluntary, there are huge benefits in the form of government schemes and subsidies for registered business entities.
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