Franchise Information, advice and news.

Setting up a sports photography franchise could be a great way of combining a hobby with a business, especially as demand for event coverage continues to increase.

Sport is a large and lucrative industry and could provide great profits for someone willing to invest time and money into a new venture. However, developing a successful sports photography franchise will require a large degree of flexibility, with events taking place throughout the country and often during weekends.

The growing interest in digital photography also means that some IT knowledge would be required to ensure photographs can be supplied in a wide range of formats. Yet, this also means that there is a wide range of exciting opportunities for those keen to develop further after-sales services including reprints and supplying merchandising products.

It is also important to remember that there could be fairly significant set-up costs involved in establishing a sports photography franchise, even though a permanent retail outlet is not necessarily needed. The price of professional photographic and processing equipment can quickly mount up. A reliable vehicle is also needed in order to attend sporting events and ferry equipment around.

Some experience of photography would be beneficial but the majority of franchises will provide extensive know-how and the training necessary to run your own successful business as well as providing initial consumable stocks. Some franchise providers will also offer ongoing training to ensure that photographic and business skills remain up-to-date and focused on customer needs.

Opting for a well-known franchise also means that there is the added support of a high-profile brand name to help ensure initial bookings and client interest. However, without sufficient research even the most well-established branding may not result in a successful opportunity and the value of the original investment could diminish.

Anyone planning to invest in a franchise is reminded to ensure they do adequate market research and fully examine their long-term business plans to ensure that they will be able to see a strong profit on their initial investment.

In particular, it is crucial to establish what geographical area will be covered by each franchisee. There should also be ensured that that there is not an overlap as this could undermine overall competitiveness and reduce potential profit. At the same time, it is vital to be clear on what costs are associated with a franchise purchase and whether any further charges are due in the long-term.

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