How to Make Money With Photography: 10 Great Ways
These days, most folks claim there’s no decent money to be made with a camera. But while it might be harder to earn a living now than in the past, photography still offers plenty of moneymaking avenues for both professionals and amateurs – you just don’t realize it yet!
Below, I share the 10 best ways to make money with photography, from the classics (e.g., wedding photography) to more unorthodox options (e.g., photographing tourists). I also offer several key pieces of advice that’ll dramatically increase your chances of success.
So if you’re ready to start earning some cash, then let’s dive right in!
1. Submit to stock libraries
Stock photography may be more competitive than it was back in the film days, but it’s still a great way to earn a passive income that will last for years. The basic idea? You submit images to stock agencies, which then license them out to buyers (such as magazines, websites, and businesses).
Note that there are two main forms of stock websites: Macrostock and microstock. Macrostock websites sell more expensive photos, so the images need to be unique, whereas microstock websites sell photos for a cheaper price but at high volumes.
Which is better for making money? There are pros and cons to each option, though both pay the photographer a relatively low percentage of the licensing fee. Also, stock photography – whether macro or micro – often requires model and property releases, so bear that in mind before you start shooting.
Macrostock is…
· Much harder to join, and your photographs need to be exceptional and unique.
· Images can be sold for thousands of dollars, so the income from one sale can be significant.
· Images of people are often requested, which means you need to pay models and get model releases.
Examples of macrostock companies are Alamy and Getty Images.
Microstock is…
· Easier to join, though the selection process still requires you to show a high level of technical expertise.
· Images are often sold for five dollars or less. In order to make an income, you will have to sell 1000s of images.
· Images designed for mass consumption do well, such as product, food, and people photos.
Examples of microstock agencies are Shutterstock and Dreamstime.
