How to Start a Modeling Agency
We are in a world where a model is as much a celebrity as a movie star. What could be better than being a top model for a top modeling agency? That’s simple; being the owner of that modeling agency the model works for! Many people would love to start a modeling agency but they just don’t know how. If you are one of them, rest assured you will discover what it costs to start, what to know before going into the business and steps to starting yours.
For a new modeling agency business person, you must be aware that there are a number of professionals like doctors, trainers, nutritionists and more that you will need to keep your talents in the best shape so quite a lot goes into running the business. However, with less than $60,000, you can start your business as long as you have it all figured out.
Firstly, here are reasons why you should start modeling agency business:
You can scout for models anywhere
Times have changed and the way modeling scouts and agents have go around to get their next top model has evolved as well. It is much easier nowadays and more convenient for both parties to get acquainted before they start working together. Many models have been scouted online, while some have “sold themselves” online by uploading some impressive work which has made even the scout’s work easier. Again, you walk into a mall, go to the beach or even sports exhibitions and it will amaze you how many raw talent you would find; most of them will need training later on.
Connection
Running a modeling agency will get you through some pretty impressive doors and you will get to shake hands with really important people in the modeling industry and in the business world as well. Having well-trained and talented models to market will mean that you will have to make actual moves to get them deals which will benefit you both. As the mouthpiece of your agency, you will be the one to get called in first to discuss terms before they talk to the models. As you make progress in the business by organizing successful fashion shows which will definitely grace the presence of important people, including celebrities, you will have many opportunities of having a personal relationship with big names and that will give your business more exposure and a better chance of getting clients in the future.
Fun work environment
Although modeling jobs and running a modeling agency can be hard but it is not rocket science, nothing literally explodes on the runway so there is no need to be too serious. Yes, a level of concentration and professionalism is required but it is a fun business to run where music gets played in the background as everyone works and there is friendly banter in between shoots. On some days, you get to open a good bottle of wine and on other days you get some really important people in the industry working with you on different projects. It is a creative industry, so why so serious?
Great travel destinations
Traveling and experiencing the good side of live in different cities is another perk of running a modeling agency. Your potential client might be in one of the biggest cities in the world and you may need to show up in person for a presentation or to finalize a deal. Some will pay your travel expenses and you will still get to enjoy the scenery. It will also expose you to ideas and other important things that you could be doing in your own agency.
You offer flexible services the way big agencies don’t
There are instances where clients would ignore the already established agencies and opt for a fresher one instead. One major advantage is that you won’t charge as much as the big agencies and clients who cannot afford them will come to you instead. Also, when clients need you for your services, the way you will deliver on time in more flexible ways will appeal to them. There will be less paperwork to fill, less channels for the contract to go through and you will offer extra help because you want to retain them as clients.
Things to Pay Attention to
Some negative influences could get your signed models into trouble that could cause a scandal. Special attention must be paid to the cons of being in the industry otherwise the consequences could be more severe than you just losing your business.
Poaching
This is very common in the industry especially with new modeling agencies. The big agencies in the business always want to stay at the top and they sometimes “play dirty” in achieving that. The big companies and agencies already have all the resources, the appeal and they are the dream of every aspiring model, including you at some point, which makes it easier to lure some of your models away from your establishment. New and fast rising modeling agencies have gone through this a number of times and if they happen to poach your star model, it could delay your agency’s growth.
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Spend a lot before landing client
In most cases, a new model agency owner will start the business by coughing out sums of money to get the business moving before any form of profit starts to come in. These bills and expenses can be expensive because they will cater to your needs, your models’ needs and even those of the other members of your team. Your model will need all the training he or she can get, which is extremely important. Travel and photo shoot expenses will also be covered by you until you find deals for your models. If all things go well, you could start making enough to cover for the expenses but if you will have to wait longer, then you should be mindful of what you could face.
Working long hours
Models get called so many ridiculous names and the outside world has a way of looking at those involved in the modeling business as people who either just pose for the camera or tell the model to pose; it is a myth. The amount of hours, training and hard work spent on making photo shoots can be outrageous. Some aspiring models also get this wrong when they think that all they will be asked to do is just strike a pose when in reality hours will be spent on just to get ready. As long as it’s your agency, you must be there to keep an eye on things and that means you also will have your own share of discomfort.
Impossible crew
Having an impossible group of people to share a stressful day with can be the worst punishment you could ever imagine. In this business, especially for starters who can only afford what they can get, your crew might turn out to be a pain in the rear. Different people with different jobs will have to work together to help you achieve your goal. The makeup artist must finish working before the camera person does his or her job and these people are from different backgrounds with different ways of doing their jobs. If they don’t get along, it could be a really long day at the office for you.
Stereotype
There are many hurdles to cross and battles to fight in the modeling industry which you are about to enter, stereotype being one of them. As much as stakeholders in the industry refuse to acknowledge this, there is still an alarming rate of discrimination in the business. There is an “industry standard” regarding what the perfect model should look like which can be unfair to many because in reality not everyone who they wish to advertise to have that body type. If your agency happens to have a lot of models of a particular race or skin tone, it might cost you clients. You will have to go through the trouble of getting a variety of people of different race or body type to stay in business.
Exploitation
This is a sad reality even in the modern age. Young aspiring models with big hopes and dreams leave their homes, families, jobs and even countries to pursue their dreams but instead fall into the wrong hands. Your business could also get affected by this when you call models for casting. Some models have had terrible experiences with con artists and illegal porn filmmakers who advertise fake castings for models. With that, some models decide to only go for castings at big agencies with a big reputation. If they keep turning small modeling agencies down, chances are yours will be turned down every once in a while.
What will give your modeling agency an edge
The competition in the modeling industry is huge and as you intend to start this journey, you will need all the help, skill and favors you can get to make it. Certain skills will give you an advantage as you commence your venture.
- Ex model: It is no surprise to see that most fashion designers, makeup artists, modeling agents and many others are mostly former models. There are a few reasons why this usually happens. One is the love they have for the industry and another one is the chance to make an even bigger name for themselves after retirement. As former models, they already have all the necessary knowledge they need, they know the movers and shakers in the industry and are likely in acquaintance with them. If you do have firsthand knowledge of life in show business then you have a great chance of survival.
- Experience: This is slightly different from having worked as a professional model. There are many professionals who work in modeling agencies to see to it that things go smoothly for the models and the agency as a whole. Not all modeling agency business owners were ex models, some were fashion designers, while some worked in admin. If you have worked in a modeling agency in the past, the ins and outs of the business are what you are exposed to on a daily basis. How to scout talented models, how to prepare their contracts, how to manage their image and how to get them ready for big gigs will not seem new. If you have no prior knowledge of the industry, you should employ experienced persons to help you run it.
- People and negotiation skills: You are getting into an industry where success is determined by how well you relate with people. This business is all about people trying to use the most appealing people to market products and services appealing to other people. To get great deals and be relevant in the business, you must be in the good graces of top people in the industry. Knowing how to get people to enjoy your company, how to have a great first impression and how to talk your way (with likable gestures) into almost anything will benefit you. Cutting great deals will be done by a great negotiator and you will be saving money if you had that aspect covered.
- Human management skills: Human beings are probably the most difficult to manage because everyone has their own opinions. You will be dealing with people from all walks of life, different race, backgrounds, level of education and exposure, nationalities and beliefs therefore it will not be easy to keep everyone happy because they all will have to work together at some point. If they feel undervalued, unsafe or threatened by you or anyone, it could hurt your business. You will also do well to manage conflicts because you might have to provide accommodation for models and some may have to share a room. Keeping a group of adults grounded is not easy but if you can succeed in that area, then you have much less to worry about.
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Starting your modeling agency business
The steps to starting a modeling agency involves the right things to consider and put in place at the early stages and even before you register your business. The registration and getting all the necessary licenses needed to start the business will depend on the location of your office:
Push for your first job
Owning a successful modeling agency company is a marathon, not a sprint. You will need all the knowledge and experience you can possibly get; do all you can to have a taste of what the industry is like by working for or with an agency in the business. It is a safe way to begin because you get to see all that is being done in the industry without having your business at stake. You can gamble, try some things and if you fail, the agency should have experienced professionals to clean up your mess and put you through the right methods. It is not easy to get a good position in big modeling agencies because of the completion. Ask for recommendations and pitch in ideas that would take the company forward when applying. This is good because it will help you value the business.
Study the industry
Studying is quite different from having prior knowledge of the way things work in the industry. In studying the industry, you already have a good understanding of it but you are looking at current trends, statistics and the world’s perception and reception of the business to help you make decisions. There are things you should pay attention to; the current situation of the industry, how the industry is growing and where it is headed, what new rules people are following and some lines (and people) you shouldn’t cross in the industry among others. Don’t just study the trend; let your findings guide you as you start your business.
Choose a niche
The safest way to succeed with little pressure or headache is to focus on a particular area of specialization and do an incredible job for your clients. There are different areas depending on your passion and bandwidth to choose from. Some niches will require a great deal of experience in an area, and the professionals you will need to work on the models might be specialists in certain areas which means you would have to hire too many people. If you see potential in the sports industry and you know a lot about sports, then go for it, or if you have a thing for the runway, focus on that aspect. You could also choose to specialize in fashion print or show room modeling as well. With time, experience, increased bandwidth, and the financial muscles, you may choose to expand.
Select a workforce that works for you
Man management is vital and you must have the skill but it will also do you a lot of good to get a group of professionals that will make your life easier. As you start this business, check people’s profiles and ask about them from friends in the industry who may have worked with them to choose the right group. This also goes for the models as they are also humans. You shouldn’t choose a photographer or stylist just because they are great at it; find out how easy they can be to work with.
Prepare your team
Get the team ready before you need them to be. All the necessary training and how you will be coordinated should be communicated to your models, photographers, makeup artists and even the driver so that when you have a deadline to meet you won’t be stranded. As the business owner, it will be you duty to see that all the necessary documents your models will have to present to potential clients are well arranged. Their portfolio, containing all their previous work, including highlights from their most impressive jobs must be set aside.
Choose a location
Where you set up your office matters as it determines how easily you can be reached. You will do well to study the location you intend to set up shop. Some factors must be considered in doing this; the kind of people in the vicinity and the level of industrialization, the cost of opening an office there, the demand for modeling services and the prospect of expansion there as well. You won’t have to spend unnecessarily, you would have a good idea of what your expectations are, and you will be able to plan for the future.
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Learn from the big companies
The already established companies did not build their “Rome” in one day. It took a lot of compromise, sacrifice, money, trials and many errors, profits and losses to get to where they are. The losses and errors some of these big companies went through might be too much for yours to handle thereby ruining your business, that’s why it is important to learn from their history. The IMG Models, Marilyn Agency, and Trump Model Managements of this world are still growing and it is because they are doing many things the right way. Following their patterns, getting updated with their latest developments and asking yourself why they came up with those will shape your mentality and you will operate your business with maturity beyond your peers.
Buy a franchise or DIY
Your passion led you to this business but you don’t have to make decisions based on sentiments. Apart from the cost of starting the business from scratch, there are many other factors to consider that may be too much for you to handle at the moment so you have to decide whether to still go ahead with your initial plan or look at the market and buy a franchise of an already established modeling company. The authority you will have will be limited and your ideas may not all be permitted to take preeminence due to the agreement you must have had with the company but it will help you earn clients faster as a beginner. If you consider buying a franchise, then do your research, study the terms and conditions of the agreement before signing.
The best time to start is now
Be prepared for anything because any call can come in in this fast paced industry. There are a lot of starters like you who will jump at any opportunity so you have to be the hungriest of them all. Don’t let a client have to call you twice, be there for them. The industry is worth billions of dollars on a yearly basis and it will only be fair if you had your own fair share.