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This question looks at expenses that you might incur through advertising, membership dues, and miscellaneous expenses. Let's assume you are starting up a photography company

This question looks at expenses that you might incur through advertising, membership dues, and miscellaneous expenses.

Let's assume you are starting up a photography company - (in a world without Covid). Your photography company is similar to others who take photos of children, pets, and special evens like weddings, showers, etc. For the sake of this of this project - assume you are attempting to predetermine your expenses before really launching your business. Think about expenses that would be relevant for this type of business. Some basic facts:

1. You have a small studio to work from to take pictures of children, families, and pets

2. You will travel to locations to take photos for special events

3. You have been dabbling in this business for a while now but have not formalized it - you took pictures for friends and relatives - so you have the equipment - cameras, backdrops, etc. so equipment that is not used up (such as film) is already taken care of

Using the charts below and through research - calculate your monthly obligations.

If for example a membership cost you 120.00 per year the monthly cost would be $10.00

After calculating these explain why each would be a beneficial use of your money.

Monthly Marketing/Advertising / Miscellaneous Obligations

Category Types

Monthly Cost

Benefits

Monthly Membership Obligations

Category Types

Monthly Cost

Benefits

An example of marketing costs might be: Survey Monkey

An example of miscellaneous costs might be: website hosting

An example of membership costs might be: Chamber of Commerce

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