The Worldwide Pandemic and The “Gig Economy”

The Worldwide Pandemic and The “Gig Economy”

by William Lulow

Well, it looks like this coronavirus has really taken the world by storm. Being able to survive in a situation like this is really the test of a free-lancer’s mettle. Hopefully, most of us have put money aside for just such occasions. But, if you are just starting out in the photography profession, chances are you haven’t. Photography is certainly not an “essential” service like doctors or hospitals. So, most of us will have to wait until this crisis is over before we can resume “business as usual.” I would venture to say that most cannot survive a catastrophe like this that could continue for months or even more. And, $1,000 or so from the government will not really help. Even if you are a salaried employee of a large company, you still have no assurance that your job will be there after a world-wide pandemic.

That’s why one of the most important things any free-lancer or self-employed person can do is to make sure that they pay themselves first when they are busy. Each assignment you do should include a fee that you pay yourself. That part of your invoice check needs to go directly into your account, before you pay any expenses for the assignment. These days, most of a photographic fee is payment for the photographer’s creative time and efforts anyway. There is really no “film & processing” anymore. And any other expenses for an assignment are “extras.” I sometimes have clients pay stylists and models directly, if I can.

I can remember that one of my first clients was WNBC-TV here in New York. I did a big job, submitted my invoice and then waited approximately 120 days for them to pay the bill. I even visited their offices to see what was holding up my check. I had to pay my rent with Mastercard for a couple of months. When I did get the check, the bulk of the money went for rent and I have made a habit of putting approximately 25% of each check in a separate savings account which I don’t touch. This money is used for emergencies such as the one we are enduring now. Or, if something else happens where I need extra funds. Then, I live on the balance. You must run your business this way because you never know when you will need the money. Anyone who is self-employed absolutely has to make sure they have money for “lean times” or what I have called “open weeks” during which you are not actually earning any money. And, they happen to all of us! No photographer whom I have ever met has been busy 52 weeks out of the year. (Maybe some staff photographers are!) But, more likely, it goes in spurts. You may be busy for a few months at a time and then you may have no work for a month. I think, one year I counted 17 open weeks out of 52, not including vacation. Many photographers have made more money than I have, but as a general, working commercial photographer, I always made a living.

A worldwide event such as this pandemic will probably see many businesess operating with little or no reserve, close down entirely. I’m not sure that even weddings can exist in this climate. Wedding photography is usually one of the fields within the business generally, that is able to weather financial storms. Everyone seems to need to get married, recession or not. But not if people cannot gather in large numbers. Reportage photographs are always needed, but as I said, various newspapers and magazines often have their own stable of photographers who are not really working as contractors. They receive a regular salary.

The moral of the story is that no matter what your business model, you always need to plan for the unexpected. Stay healthy out there.

                                                                               Aerial shot of Manhattan, outbound from LGA, 2004.