I run a real estate photography business.
My goal is to replicate my model in other markets and dominate a much larger portion of the overall market.
This is part of a weekly series of updates on how I’m doing.
I sent out a customer survey to 20 RE agent clients to get a feel for how I am doing and ask a particular question.
60% response rate. Decent
I wanted to understand what people like most about my services:
- 11/12 chose great photos
- 9/12 chose quick turnaround
- 8/12 chose exceptional customer service
- 7/12 chose saving time
- 6/12 chose selling quicker
- 91.7% rated their last booking as 5/5
- 8.3% rated their last booking as 4/5
Person rated the 4/5 because of my online booking portal still needs a little work.
I asked if clients would choose a pay at closing option instead of upfront. I’d increase my fee >2x to take on the risk of not getting paid (no closing) and TMV.
0 said they would. I was surprised about that. But I think this option is best asked to individuals who do not use me. I know for some that is a sticking point.
I’m throwing out this idea for now.
How likely recommend me to someone you know (higher = better)
- 91.7% said 10/10
- 8.3% said 9/10
I was surprised that my photos were so important. And the above reinforces that turnaround (for realtors, at least) is absolutely paramount.
Overall, doing good.
The most important thing for me is to maintain my culture as I grow.
Got 1 Google review. Need to get more of these.
Operational updates (mtd):
- Teaching wife how to do tasks I don’t like
- 9 new customers
- ~38 hours spent doing actual “work”
- $490 avg client spend
- $5500 revs
- 75% GM
- Incentive structure for new operators. Leaning pay per shoot, low base, big back end based on measurable metrics (on time, service, follow directions, speediness getting assets to me)
- Growth outside my market? Still thinking on franchise, roll up or build internally. Being ever mindful of maintaining culture.