Franchise Spotlight: Photography
Franchising offers a diverse range of opportunities in the competitive Photography sector.
With a market revenue of over $10 billion in 2021 and a predicted 3.7% increase in market size, the photography sector is an exciting one to enter. Depending on your personal interests, there are a wealth of franchise opportunities available. In such a competitive market, franchises can offer the support, reassurance and starting blocks for those who are looking to establish themselves quickly.
With the ever-changing world of technology making so many forms of photography redundant, companies have jumped in to fill the gap - offering services to digitize films, VHS and old records which customers want to keep but can no longer enjoy. Franchises such as Memory Wise have capitalized on these changes in technology to offer consumers the chance to ‘preserve their memories’.
If your interests lie behind the lens, franchises such as PortraitEFX offer training in photography to ensure franchisees are ready to run their own photography sessions in schools, sports clubs and at events. For franchisees who are interested in taking advantage of the ever-growing market for photography gifts (calendars, mugs, bags etc. featuring favorite images) then a franchise such as MotoPhoto would be worth investigating.
Photography Industry Analysis
The Photography industry is a highly competitive sector to enter and the marketing tools and expertise a franchise can offer will certainly be beneficial. Whether you are already a photographer, or trying something new, the training most franchises offer will set you up so you feel confident launching yourself in this industry.
This is a sector which is impacted by the fluctuations in consumers’ disposable income - as disposable incomes rise, industry revenue does too, as people want to treat themselves to those ‘new-born photoshoots’ or spend extra money digitizing old videos. This can make this sector a more risky one to enter as it is not seen as a necessity in times when income rates are less favorable. This, again, is a good reason to invest in a franchise which can offer support and guidance during those times.
With the ‘selfie generation’ and such high quality images being taken on mobile phones, it is more important than ever to stand out in this industry. This is why so many companies have chosen a niche to specialize in. For franchisees looking to stay behind the camera, the hours can be long and demanding - but for passionate and determined individuals this can be a rewarding sector of which to be a part.