I think I'm going to make the leap!! Studio/ Gallery

[Jason Hermann]

An opportunity just fell into my lap yesterday for some absolutely killer studio space with enough room for a gallery as well

A Customer of mine owns a really high end coffee shop in a great location. He lets artists hang up work in his establishment for month at a time for no money at all. They get exposure and he gets nice decorated walls and hopefully some business from he artists friends/ fans ect..

Anyway I was able to get my stuff in there last year and I did really well with sales, and got some business out of it. You might remember the Simon photos I posted in portraits? Those were his kids portraits So i dropped of the photos to him at the coffee shop yesterday and he was blow away!! Absolutely loved them

So he then asks if I'm interested in possible renting some space above the coffee shop. I said I'm always interested in possible opportunities and he proceeded to show me the space. Its awesome!! 3 large rooms, about 1000 sq feet hardwood floors painted walls with molding ect.. Bathroom as well.

A nice stairway the leeds up there and heat and electric is included!! Guess how much he wants

$600 a month!!!!!!!! My jaw almost hit the floor I could have a bad ass gallery set-up with my landscape stuff ect... and have a awesome portrait viewing room for customers, and then a portrait studio in the other room. I can also use wall space and sell it to other photogs if I wanted. A few sessions a month would pay for the rent alone.

He also said he wants to put in a door the conncts the stairway to the coffee shop with a sign saying "Jason Hermann Photgraphy/ Gallery upstairs" right now the door to upstairs is just around the corner from the main door. about 5 feet away in a great spot as is.

My customers would clearly get coffee and deseert from him and his customers would hopefully go up the the gallery and buy stuff

In any event I really want to do this and I need help!! What will I need to make this happen?? How much money? Insurance? ect....

I have no clue, but I just can't pass this up. The going rate for space like this would be atleaset $2000 a month. The location is insane with high end customers buying expensive cookies and deserts is right up my alley I would think?

Any thoughts or advice would be greatly appreciated!! Sry for the long winded post, but I'm so freaking excited!

Thanks,
Jay

[kenwae]

You won't be able to figure out everything beforehand. Sometimes you just need to jump and let things gather into place as your falling...or, in your case, flying.

[Ellbee99]

You have been truly blessed my friend. Get it all in writing etc and then go for it. See if you can try for a few months first...go from there. I'm a bit jealous but, also thrilled for you!
Good on you.

[highbarger]

Wow, sounds like a great opportunity! I wish you the best. Now get out there and make us proud!

[swift_wraith]

grab the bull by the horns and go for it. the area sounds great and even if its only for a few months while you test the water at least you can say you tried (hopefully it'll be longer and youll do well)

congrats mate and all the best for the future

[INSOMNIAC269]

Wonderful opportunity, you've been handed the ball, now run with it. Best of luck to you Jay, you seem like a nice guy.

[waple]

You are very lucky and I'd definitely do it asap.

We did the same thing. A great location where I live opened up. The same business had been there for 10 years and everyone knows the place. The visibility and accessability is incredible. When I saw it was opening, I had to do it. I was nervous and wanted only a 1 year lease at first just in case things didn't work. But a lot of people were telling me I was dumb to take anything less than 5 years for the incredible spot I was getting. Funny thing is, my third day in there one of the neighbors said that a developer was interested in buying our land. With a 5-year lease on this prime location, they'd have to pay me a lot of money to have me leave there.

Anyway, talk to an insurance agent. some leases require a certain amount of insuance. I had to get it for my place. It's not much though, just like $600/yr. Have someone go over your lease, and definitely GET a lease. He could tell you to move out next month just cuz he's having a bad day. If you have a lease and you're doing what you should, you should be fine.

A big congrats! Let us know how it goes!

Oh, and I did the same thing. I have one big 30x30 room that has shooting areas and gallery wall space. Plus the foyer, and my office is in the large area (outside of the big space but connected) and a back storage room. Overall I have 1700ft but you've definitely got me beat in price. Your's is a steal.

[Mr. Pickles]

You have to try it. if you don't, you'll never know and always wonder. I'd put some of Michelle's stuff on the wall too...but that is me.

[beyondphotos2]

I say go for it! This sounds like a once in a lifetime opportunity. You'll never know whether it was for you if you don't try. Good luck and congrats on a great find! Keep us posted on what you decide.

[brian.austin]

Originally Posted by Worm324

In any event I really want to do this and I need help!! What will I need to make this happen?? How much money? Insurance? ect....

Follow Waple's advice and get with an insurance agent and the lease. Make sure your equipment is insured as well. If you're not with PPA yet, join. They have a nice equipment insurance plan. They also have some great business courses designed for studio owners.

My only recommendation on the lease is think long and hard on how long you want it. Shorter = better for flexibility but riskier on increasing costs later if you have to re-sign when the market is up.

If you haven't started the business officially, do it before the year ends so you can get some writeoffs this year. If you don't have an accountant, get one now. Follow his/her advice. That's what these people do and they're worth every penny.

If you're working full time and have enough to support the place, don't worry about a reserve fund yet. Just get it started. Make a list of anything you need to fill the space. Desk. Projector. Chairs. Stapler. Whatever. Then go shopping...mentally. Fill in the budget for the items. Then add a contingency on top for stuff you forgot (you will). My minimum is 25%. If I figured $1,000, I'll set my expectations at $1,250. Then set the priority: what do you need now and what can wait? How much money do you actually HAVE? How much are you willing to part with to get this thing moving?

THEN go shopping...frugally.

After you're started and open, sit down and write a business plan. It's a bit backwards but you have a nice opportunity here. Make it detailed, with reasonable goals and develop a plan toward those goals. Don't get TOO complicated, though. Keep it to 3-5 years for now. Then concentrate on working the plan.

[Jason Hermann]

Thanks everybody for the incredible support and encouragement!!!!!!!!!!

I talked with Michele and we went back to look at the space so Michele could see it. She thought it was great as well so I'm doing it!! I told the guy I want it and I'm going to give him a deposit in the next few days I's so freaking excited I can't even tell you all!!

I have so much to think abbout and research:

-studio equipment needs??
-gallery wall hanging systems??
-floorplan layout??
-Credit card machine/ merchant account?? Can I use my paypal?
-Advertising?? How much and when should I do it??
-gallery hours? Studio hours?
-Michele and I both have good full time jobs right now with benifiets?? what to do?
-should I have printing and framing on site?
-how much do I really need on the walls to open the gallery?
-how many matted photos??
-pricing? session fees?
-how much will the overhead really be?
-cash register?
-whats a good color for a gallery? walls ect..

These are some of thoughts going through my head right now

The plan is to open in February so that gives us time to get stuff together and come up with a good plan. Plus gives time for the area to be cleaned up by the Landlord ect..

I don't have that much money in savings or anything so unfortunatly I'm going to have ti use credit of some kind be it a loan or cards to get some must have items.

I'm going to need a ton of pre-cut mattes and prints for the gallery. ZContainers to hold the matted photos in categories I guess??

Inventory? How do I do that??

Anyways, mind mind is going in 1000 directions right now so I appreciate any thoughts you all might have regarding this or otherwise

Best,
Jay

[Dratom]

I think you have stumbled on the a great thing here. Good luck and when you get the gallery up post images!!!

[peterst6906]

Congrats on the opportunity Jay.

Doing it will come with a lot of work (I'm going through something similar at the moment, but not directly photography related), but if it works out, the rewards far out way the time and effort.

From where I am currently sitting, just trying it is one of the best things you can ever do.

Regards,

Peter

[PrestonSmith]

Congratulations!

Just a thought from right field, check the zoning ordinances and status and make double darn sure that you fit there with the business that you are planning to run.

[Loyce]

Since I've never done anything like this, I have no advice to offer you, Jay; but I do wish you good luck. It sounds like a great opportunity.

The advice you've been given so far seems to be good advice. I would definitely pay attention to it and follow their advice!

[felix.reichardt]

Jay, great opportunity and I am glad you are doing it. You are one of the most talented guys here! All the best.

[littlegal]

Takes money to make money. Your work is fab. I say your return will be ten fold.

[Jason Hermann]

Thanks everybody for sharing your thoughts and encouragement It means a lot and if it wasn't for Photocamel, I would NEVER be in this situation to begin with!!

Best,
Jay

[boatswife]

What an exciting opportunity!

[amature]

Originally Posted by Worm324

He also said he wants to put in a door the conncts the stairway to the coffee shop with a sign saying "Jason Hermann Photgraphy/ Gallery upstairs" right now the door to upstairs is just around the corner from the main door. about 5 feet away in a great spot as is.

Jay,
Does the owner of the coffee shop own the building? If not, is sub-leasing allowed? Also if I understand correctly, it appears what you have stated above is that the space you would be renting is only accessable through the coffee shop. Would you have your own private entrance to the space?
If not, assuming you rent the space, what happens when you want access to the gallery during hours the coffee shop is closed? Do you have access, or is access contingent upon the coffee shop being open? In these tough economical times there is always a possibility that the coffee shop goes under and someone does a lockout (possibly creditors)of the coffee shop. Would your business personal property be in-accessable?