Week 4 - Market Research

69% of graduates say independent work offer a better work-life balance..

During week 4 we have discussed how to research into our markets and how to recognise if there is a place in the market for my company. We also looked at using the 5 W's and H. What? Who? Where? When? Why? How? 

I have researched into the statics of freelancing and how photographers make their money. It was crucial that I knew the ins and outs of becoming a freelancer as there is a number of risks as there is benefits.

Throughout looking online as statistics and articles about getting into the industry as a freelance photographer, I established that 'freelance' has become increasingly popular from the year of 2010, which gives me a promising outlook of going independently with becoming a freelancer.

Freelance photographers are expected to out space those engaged in traditional employment. Promising to think revenue can be made from being a freelancer.

Freelance photographers to increase by 15% between 2010-2020.

Internet is a successful way of enabling freelancers to market their services directly to a growing audience. Hence why I have chosen to market my business through social media and through my online website.

Lastly, I have looked into how and where I am going to produce my work. As my job is to be the person behind the camera, I wont need to hire a studio. I take the images. However, over the next 5 years I will invest in my own studio for social media influencers as I believe having my own studio will highly increase sales with individuals seeing this as an advantage. I have looked into hiring out studios within Birmingham and have found two companies with slightly different costs, however, with more offers in the packages.