We caught up with the brilliant and insightful Abby Straub a few weeks ago and have shared our conversation below.
Abby, thanks for taking the time to share your stories with us today Let’s talk about keeping costs under control when growing. How have you managed to keep costs from getting out of control?
In both my businesses, I kept startup costs as lean as possible in order to maximize initial profits and invest them back into the business. I have not taken out small business loans or personal loans for either of my LLC’s, both were fully funded by myself. That makes it sound like I had a lot of personal capital to use upfront, but that’s not the case. For my photography business, Abigail Ann Photography, it started in high school on a mixture of borrowed and gifted equipment. When I truly started focusing on growing and investing in my business in college, I worked three part time jobs in order to upgrade my gear, pay for website hosting, pay for a CRM system, etc. I did a lot of things the DIY way, like making my first logo and building my website myself. This set me up to be able to capture 100% of the initial revenue and channel it right back into the business. I didn’t have to make payments on a loan or pay any contractors. I didn’t even have any credit at the time, so getting a favorable loan would have been near impossible. I made frugal choices in the gear I bought (some new, some used), knowing I could purchase more upgrades in the future as my pricing also increased. So, perhaps it took me longer to achieve the quality of images I produce now since I didn’t take out a loan right away and buy crazy expensive equipment, but it’s the way that worked best for me and gave me the most control over all facets of Abigail Ann Photography.
For Legacy Bridal, I certainly had more startup capital than I did when I started Abigail Ann Photography but I still wanted to keep costs as lean and efficient as possible. Two areas I was not going to compromise on when it came to costs was quality fabrics and my seamstress’ hourly rate. Therefore I made the decision to forgo paying myself anything during the startup faze. Even now, all revenue thus far has been put back into Legacy Bridal. Obviously not everyone can do this; I had my photography income and my partner’s income to lean back on for stability. One way I kept startup costs low was by trading my photography services for graphic design and branding work. Never underestimate the value of trading for services, especially among creatives. I also didn’t spring for a physical retail space right away as that would have put a huge strain on my personal resources. Instead I’ve waited until Legacy Bridal can comfortably sustain rent on a space on its own before looking at potential brick and mortar locations. I’m letting the organic growth set the pace for determining when more investments are necessary. This isn’t the best strategy for fast/expedited growth, but it’s been the best strategy for my own financial stability.
I’m not a big risk taker by nature, and I think that facet of my personality has made me build both of my businesses in a very practical and sustainable way.
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers
I entered the wedding industry in 2018 at the age of 19, when I photographed my very first wedding for the daughter of my boss at the time. I had been casually pursuing photography since I was 16 when I received my first DSLR camera, but after shooting that first wedding I dove head first into building my business. I built a website, upgraded my gear, put processes and systems into place, and created a portfolio, all while working multiple other jobs and getting my Bachelor’s degree in business. Fast forward to today and I have been a full-time wedding photographer for two and a half years, working over 40 weddings per year. I am so honored to get to be a part of the most important day of my clients’ lives and archive their memories for future generations. I truly don’t think of myself as an artist, but just as a capturer of the moment. I don’t let my own artistic preferences or ambitions get in the way of documenting my client’s wedding day just as it is, which I think a lot of wedding photographers can struggle with.
In February of 2022, I had an idea for another business in the wedding industry which would turn into the conception of Legacy Bridal. Legacy Bridal specializes in bridal accessories such as veils, capes, sleeves, as well as custom orders. From ideation in February, through sampling designs in June, to having final samples completed in August and launching in October, it was an incredibly challenging but fun process to bring this business to life. Business is quickly gaining speed in the few months since our official launch!
As a 23 year old with two LLC’s in the wedding industry, life is busy but fulfilling. I wouldn’t have it any other way!
Any advice for growing your clientele? What’s been most effective for you?
I’ll focus on my wedding photography business, Abigail Ann Photography, to answer this question. I often get asked this question by other photographers looking to grow their own clientele. For me the answer is simple, the most effective strategy for growing your clientele is giving your current clients an experience so amazing that they want to tell their friends and family about it. I don’t have a large social media following, I don’t pay for ads, I don’t go to wedding fairs or markets, but I do give my clients an amazing experience. In 2022 I received 387 inquiries for wedding photography, client referrals being one of the top inquiry sources. Not only are they one of the top sources of inquiries, but more importantly they have a much higher conversion rate to actual bookings than my inquiries driven by social media do. Inquiries are great, but they mean almost nothing if you can’t convert them to bookings.
Another great way to generate inquiries that have a higher conversion rate is by connecting with other vendors in your industry. My second highest source of leads in 2022 was from vendor referrals. Vendor referrals are amazing because the potential client already trusts you, since you came recommended from another professional. You’ve already been vetted even before the first email, very similar in that way to client referrals. In my industry, I receive referrals from wedding planners, other photographers, venues, videographers, florists, etc. Make those connections and watch your business grow.
How do you keep your team’s morale high?
I’ll use my experience with Legacy Bridal to answer this question. I had never had a team to manage while just doing wedding photography. I had photographers I hired throughout the year to assist me at weddings, but none of them were contracted for more than a few weddings at a time. So, when I needed to hire a team for Legacy Bridal, it was a very new experience for me, one in which I’m still learning and growing.
I currently have a team of three seamstresses who assist with designing our pieces and actually produce each order we receive. As a made-to-order business, their hours are not consistent, ebbing and flowing with how many orders we have at the time. Because of this and due to the fact that we have a 4-6 week lead time for production, I let them choose when they work and how much they work at a time. Some of them prefer to work on the weekends, one prefers to work early in the morning, and by allowing them to complete their work on their preferred schedules as long as we are meeting our production window is one way I keep morale high. I work odd hours sometimes myself, so why force others to work on a schedule that I wouldn’t want to adhere to?
Another way I keep morale high and help maintain open communication for the team is by using a Slack-like platform with organized channels of conversation. We have conversation channels for admin related items, illustration/design feedback, materials ordering, meeting planning, and more. I celebrate both company wins and individual wins on this platform as well. For example, one of my seamstresses just completed a beautiful custom order from a bride who loved the final piece, and so I shared images of the final product along with the bride’s feedback in our chat for everyone to see.
Contact Info:
- Website: https://www.abigailannphoto.com + https://www.legacybridal.com
- Instagram: @abigailannphoto + @legacybridalmn
Image Credits
All images taken by Abigail Ann Photography and include Legacy Bridal pieces.