Potential risks in a photography studio include tripping over wires, falling from ladders or furniture, eye strain and burns from hot studio lights, and electrocution from electrical equipment. To mitigate these risks, wires should be tidy and out of the way, those on ladders should have assistance and proper footwear, models should be warned about bright lights before use, and all equipment should be organized and unplugged when not in use. In an emergency, minor injuries may only require assessment while more serious incidents like falls or electrocution require immediately calling emergency services.