Professional photographers will soon have the most up-to-date resource for bettering their businesses. PPA is preparing to launch the results of their 2011 Benchmark Survey, which gives studios key performance indicators (benchmarks) based on financial data compiled from hundreds of studios.
By following these benchmarks, photographers are virtually guaranteed to improve profit margins. The benchmarks will help them determine how much they need to sell in order to achieve the personal income they seek; how much they must charge to achieve that level of sales; and how much it will cost to pay day-to-day business expenses.
And these benchmarks work. Over the course of the three PPA Benchmark Surveys (2005, 2008 and 2011), we've seen a marked improvement in performance by the studios that participated multiple times. Take as evidence the 66 studios that participated in both the 2008 and 2011 Benchmark Surveys: By applying the benchmarks to their businesses in the intervening years, they easily eclipsed the results turned in by other participating studios.
PPA is the only organization that creates such comprehensive financial guidance for photographers. Following that guidance can help photographers create a stronger, healthier business...and that can lead to good business for the rest of the industry!
On PPA.com, PPA members will soon be able to see these latest recommended benchmarks and additional resources that will guide them through how to use the benchmarks to make key decisions.