1
1. Total industry size (revenue generated, number of companies, etc.)
The Photography industry in Canada consists of very healthy and fruitful markets. The
entire industry itself makes a revenue in total of $895M, experiencing an annual growth
of 3.5% per years (as evident through 2012 to 2017). There are 9,974 employers and
8,417 businesses. There is a fast growth happening in the industry today.
Because of the advancement of technology and digital photography, there has been a
major influx of independent photographers who make up 80% of the entire industry.
Resolution and High Definition technology is also allowing for barriers in the industry to
dissipate and for growth to continue1.
The industry has potential for new entries making it extremely big since there are no
companies currently accounting for a significant portion of the market. Major Photo
Studios make up very little of the segment, therefore, with a new market entry, the
competition could ignite a faster market, which would lead to more profit. In British
Columbia, the industry includes studio photographers.
According to WorkBC, the profession is mainly comprised of younger employees with
more than 50% of the industry being between 25 and 44 years old. The need for
photographers continues and it is mainly driven by self-promotion. Statistics Canada
notes that BC has the 3rd highest number of businesses in the industry after Ontario
and Quebec.
Most studios employs 4 people at maximum. Because of this, a lot of photographers in
the industry are self-employed, with 32% photographers working full-time, with the rest
of the industry having several jobs at one, pursuing artistry to make ends meet. There is
a vast array of opportunities in the industry and the competition is fierce, which makes
this a very interesting and profitable business2.
According to the 2011 National Household Survey, there were 71,850 photographers in
Canada that are employed with three quarter of them working with portrait photography.
This market makes up 15.3% of the industry, with photography consisting of 34.7%
being personal and group photography and weddings making up 5.5%. Services in the
industry are discretionary, with success directly related to the economy and the
available disposable income. This is why a lot of studios work with special conditions.
The baby boom generation is retiring now and more job openings will be available.
1
https://www.ibisworld.ca/industry/photography.html
2
https://sba.ubc.ca/blog/industry-overview-portrait-photography

2
According to the latest information on the Government of Canada website regarding
NAICS Code 54192, Photography Services, the industry is primarily engaged with still,
video or computer photography services, which also includes taping of special events.
Specializations include aerial photography, commercial and industrial, portrait and
special event photography. There are some exclusions, these include:
1. Commercial, Institutional or Educational films (512110)
2. Motion Picture Films (512190)
3. Supplying photographs to the news media (519110)
4. Taking, developing and selling artistic photographs (711511)
5. Developing still photographs (81292)
6. Supplying and servicing automatic photography machines (812990).
As a result of this, the company also operates under code 81292 as it will be developing
still photographs to the public. Therefore, this industry will also be visited in this
discussion.
As for 54192, in 2015, there were 7,460 establishments and 99.7% of them had 0-99
employees. As noted above, it is more like 4 employees per studio. Moving on, the
average revenue for these establishments is $127,500 per year with 91.1% of the
businesses being profitable and reputable3. There is no salary information or wages for
this industry.
For industry code 81292, photofinishing, there were 256 establishments, with 99.3%
having 0-99 employees, and averaging $378,200 per year in revenue with 70.3% of
them being profitable and reputable4. There was no information regarding salaries and
wages on the website.
For industry code 54192, 1,240 establishments registered as employers and 6,220 as
non-employer. In British Columbia, the numbers are 200 and 1,108 respectively. There
are 923 micro companies in Canada, 313 small companies, 3 medium companies and 1
large corporation. In British Columbia, these numbers are 154, 44, 1, and 1
respectively5.
3
https://strategis.ic.gc.ca/app/scr/app/cis/summary-sommaire/54192
4
https://corporationscanada.ic.gc.ca/app/scr/app/cis/summary-sommaire/81292
5
https://strategis.ic.gc.ca/app/scr/app/cis/performance/rev/54192

3
For industry code 81292, there are 139 employers in Canada and 117 non-employers.
In British Columbia, there are 24 employers and 16 non-employers, representing 15.6%
of the industry as a whole. There were 81 micro companies in Canada, 57 small, 1
medium and 0 large corporations in the country for this field. In British Columbia, there
were 16, 8, 0 and 0 respectively6.
For industry code 54192, there are 30 low-income businesses in the industry and 5,000
high-income businesses in the industry. The average total revenue is $127,500 per year
as a whole. Cost of sales (direct expenses) total $27,600 and indirect expenses total
$59,000 per year. The net profit totals $41,000 per year. The interest coverage ratio is
52.9% with gross margin of 78.4%. Exactly 91.1% are profitable, with total revenue
$122,600, total expenses at $75,900 with net profit of $46,800. In non-profitable
businesses, which constitutes 8.9% of the industry. The total revenue is $177,700,
expenses totalled $196,200 with a net loss of ($18,500)7.
For industry code 81292, there are a total of 182 businesses in the entire industry with a
total revenue of $378,200. The total direct cost of sales (direct expenses) totals
$193,700 and indirect expenses totals $166,100. The net profit $18,400. The industry
has a interest coverage ratio of 9% and a gross margin 48.8%. Exactly 70.3% of
businesses are profitable with a total revenue of $359,700, total expenses $321,200
with a net profit of $38,500. There are 29.7% of businesses are non-profitable. The total
revenue $422,100 and total expenses of $451,100 with a net loss ($29,100)8.
6
https://corporationscanada.ic.gc.ca/app/scr/app/cis/performance/rev/81292
7
https://strategis.ic.gc.ca/app/scr/app/cis/performance/rev/54192
8
https://corporationscanada.ic.gc.ca/app/scr/app/cis/performance/rev/81292

4
2. Growth potential and factors influencing the industry growth
Because photography is now more affordable than ever, with better quality picture and
technology advancement, the industry becomes stronger every single year. The
industry has drastically changed, it is now more exciting and more in tune with customer
needs. No longer are heavy hitters in the field the only ones working, now everyone can
work even if is through self-employment. The current market in Canada holds many
studios that operate within certain geographic locations, taking care of the local needs
for photography.
According to IBISWorld Industry Report, the access to technology has now changed the
way one looks at a professional, specialized photographer9. Many photographers are
self-taught and continue to enjoy the same benefits as ‘professional’ photographers.
The editing ability and capabilities found in software is also another reason why so
many studios are able to provide extremely advanced services in this field.
The ones that make a difference in the market are the ones that are coming up with
creative ideas, new trends, new styles that set them apart from the competition. Social
media is a primary tool used in photography, not just to connect with the public but also
to display samples of the world. Having an online presence is mandatory in this industry
if one expects to be successful.
One important thing is that in this industry, there is no need for a permit for self-
employed photographers. Therefore, many photographers will come to Canada from
other countries including the US, and while they may not set up a business studio, they
do work within our Canadian boundaries.
Therefore, social media is the primary tool for all photographers including Canada’s own
photographers. With this, the competition can be beat and the product acknowledged.
Studios will profit immensely from this because of the need for self-employed
photographers to have space to take the pictures, edit them and so on.
9
https://sba.ubc.ca/blog/industry-overview-portrait-photography

5
3. Competitor Analysis
There are a few photography studios in the New Westminster, BC.
1. Print Hubba Hubba Photo Studio in 511 Columbia St, New Westminster, BC V3L
1B2.
The company seems to now be called Whiteday Wedding and Photography because
this is where the link on google to their website leads to (http://www.whiteday.ca/2016/).
Their website is clean, grey and white colours with a spark of pink and gold. They offer

6
Wedding Planning packages at the studio and the ceremony. Engagement and portrait
photography also offered. There are no prices on their website.
2. Gabor Fasztonyi Studio at 730 12th St, New Westminster, BC V3M 4J9
The photography is different and the website is impressive. Dark colours, grey, black,
white and gold. The studio offers family portraits, prints, different settings including a
room in the city, rodeo, the sudanese, college portraits, commercial, New Westminster
at night, Last polio children, picture framing and business headshots. The company
does not have prices on their website (http://www.gaborphotography.com/).
3. Three Sixty Media located at 213 Phillips St, New Westminster, BC V3M 5N9.
The company website is brighter than the average website, with white, orange and blue
colours. It offers videography as well as photography. It is mainly handles corporate

7
events, a commercial company. It also offers personal photography such as weddings
and engagements. It provides booths for the events as well. Aerial footage available.
The website has a blog which is very modern and contemporary.
4. Chickadee Family & Babe Photographer located at 921 Queens Ave, New
Westminster, BC V3M 1M1
The website is beige and brown (http://chickadeephotos.com/). The company dedicates
itself to family photography. The website has testimonials and a pricing menu. They sell
15 images for $300 with the Nestling Package. The Fledgling Package has 30 images
for $500. The Chickadee Package has 50 images for $750. The company then offers
add-ons and optional products including:
● Mini-Keepsake Photo Books for $90 per pack of 3. $35 for each additional pack
of 3.
● Small Photo Book Softcover up to 20 pages for $175 and $50 for each additional
copy.
● Large Photo Book Hardcover up to 24 pages for $300 and $80 for every
subsequent copy.
● They offer custom greeting cards up to 3 photos with no pricing available.
Their terms are conditions are listed on the website which is efficient in making sure all
that come to the studio are informed consumers.
5. Love Tree Photography located at 810 Quayside Dr #205, New Westminster, BC
V3M 6B9

8
The website is very beautiful, with a very high definition picture as the main wallpaper
on the first page. Pricing is available on the website. There is a blog, and a gratitude
page as well as a portfolio and FAQ page. They offer 4 packages including:
● The Raincity Romance package at $1,950. Their most popular package is $4,135
and includes six hours of coverage, two photographers, an engagement session,
200 digital files and a signature wedding album.
● The Love at a Distance. Destination wedding package starting at $5,105. It
includes two photographers, unlimited day-of-coverage and a collection of all
digital files with a slideshow on a USB stick.
● The Intimate Connections, portrait sessions with commissions starting at $580
offering engagement sessions, couples portraits as well as budoir.
● The rustic photobooth, rental of vintage photo booth rentals starting at $200/hr
with a three hour minimum.