Cost to Run My Business - May Bo Hubbard

How much does it cost my family to run this business?

Office and Studio Space

- Office: $50 / Month

- Studio Rental: $100 / Hr

Equipment and Accessories

- Camera 1 - 7D Mark II: $1750

- Camera 2 - t3i: $800

- Future Camera - 5D Mark IV: $3737

- 50mm 1.4f:  $400

- 85mm 1.4f: $400

- 10 to 22 mm 3.5f: $800

- 24 to 70 mm 2.8f: $900

- 70 to 200 mm 2.8f L: $1750

- 17 to 40 mm 4.5f L: $600

- 4 Speedlites, Transmitters and Receivers: $400

- Future Macro Lens: $800

- Batteries: $250

- SD Cards: $120

- 6 Huge Hard drives: $1000+

- Editing Laptop: $1000

- Monitors: $500

- Calibrator: $400

- Reflector: $40

- Tripod: $30

- Pixma Pro-100: $350

- Ink: $100+

- Camera Bag: $30

Software

- Adobe Creative Cloud: $19.99 / Month

Business Email Account

- Gmail Business - $120 / Year

Babysitting

- $15+ / Hr

Web Hosting & Domains

- Smugmug Business: $300

- Domains: $60

Vehicle Expenses

- Vehicle & Gas: $550 / Year

Office Supplies & Furniture

- Furniture: $50

- Office Supplies: $50

Postage & Shipping

- $40 / Year

Professional Development

- Classes: $500 / Year 

- Professional Photographers Association: $194 / Year

Business & Equipment Insurance

- All State: $450 / Year

Credit Card Processing Fees

- Square: 2-3% of Sales

- Pay Pal: 2-3% of Sales

Legal and Accounting

-Professional Services: $500 / Year

Taxes and Licences

- Salt Lake City Sales Tax: ~6.8% of Sales

- Establish LLC in Utah: $48.00

- Register Business Name: $22.00

- Salt Lake City Business License: $138.00

Bank Accounts

- Business Account Fees: $100 / Year

Other Expenses

- There are surprise expenses along the way!

- Broken Equipment, ect, ect, ect!

Total Overhead Cost: ~$12000 / Year

Overhead Cost per Workday: ~$450 / Work Day 

Overhead Cost Hourly: $225 / Hour