Cost of Doing Business -- Part 1
Do you know how much it costs you to be a professional photographer? Yes, this is you and your money. The cost of doing business is often as referred as CODB.
The The cost of doing business is what it costs you to operate your photo business. The The cost of doing business is the yearly sum of your business expenses. Here is a list of some of the expenses:
- Advertising & promotion
- Computers (hardware & software)
- Entertainment (meals with clients)
- Equipment repairs
- Insurances (business & health)
- Internet (broadband, web site & email)
- Legal & accounting services
- Office or studio rent
- Office supplies
- Phone (cell, blackberry, office & fax)
- Photo equipment
- Photography supplies
- Postage & shipping
- Professional development
- Subscriptions & dues
- Taxes & licenses (business, property & self-employment)
- Travel
- Utilities
- Vehicle expenses (lease, insurance & maintenance) or mileage
- ...
You can put your own cost, divide by 12 for your monthly CODB.
This list looks like the expense portion of an income statement. It is actually the expense portion of your income statement plus some of the assets of your balance sheet.