1.5 - STATS | THE $100K/YEAR BREAKDOWN
Breaking Down $100K
$100K/ Year = $8,300/ Month
$8,300/ 22 business days per month = $377 per business day
Norman & Young's average shoot price is roughly $178
To break into $100K you would need to do at least two shoots a day with our pricing.
Norman & Young full time photographers shoot 4 houses per day bringing about $190K per photographer yearly revenue.
Real estate photography CAN be a great way to make a decent income!
Another perk of shooting real estate photography is that typical shoots are during normal business hours!
Say goodbye to shooting on weekends or after business hours!!
Our photographers typically start their first shoots at 10AM and their last at 3PM.
Of course making $100K doesn't mean you take home $100K :(
You do have to take into consideration taxes and company expenses such as gas, buying new gear, etc.
Norman & Young operates at about a 50% profit margin. Being a decent sized small business, we have more business expenses such as renting our office space, having an office manager who does all of our scheduling, and a coo who takes care of all the behind the scenes.
As a single photographer that profit margin will be a lot higher!
You could expect around an 85% profit margin.
That means for every 1 dollar you make, you would take home $.85. Out of your take home pay, you would then have taxes taken out of that.
What we've found is that a full time single photographer in an average market after expenses but before taxes can make somewhere around $135K if they work a full schedule. Those numbers can rapidly creep up if you use the techniques we teach to scale your business.
Some of you will want to continue growing your business and keep hiring on additional photographers and that is a great way to make more money! Even though the more you hire your profit margin will shrink to some extent, your company will overall take home even more money than you, by yourself, could ever take home by just shooting.
Having more staff allows you to have better scheduling flexibility with your clients and allows you on an occasion to take a vacation!