PPA’s FINANCIAL BENCHMARK SURVEY

With the publication of this landmark survey of professional photographers, researched and conducted by PPA’s Studio Management Services department, we provided studio owners for the first time with a reliable financial evaluation tool to help them better understand what it takes to achieve financial success in the business of photography.

By definition, a benchmark is "a standard by which something can be measured or judged." PPA’s Benchmark Survey is a financial snapshot of the photography industry in 2004. Its findings allow studio owners to compare their financial operations to other studios of similar sales level or years in business as well as assess their productivity against overall industry averages and "best-performance" studios.

PPA’s Studio Management Services staff and mentors apply these established industry standards to assist members through workshops, consultations and support services to evaluate and refine their financial management and accounting practices.  Comparing your studio’s performance to the benchmark is a valuable exercise to help you fine-tune your business plan in the quest to build successful businesses in portrait/wedding photography.

PPA Member Exclusive:
PPA's 2005 Financial Benchmark Survey Report

Download the PDF
(You must be logged in to access this document.)

Download the Professional Photographer article, November 2006

Your Studio vs. The Benchmark:
Self-Evaluation and Best Practices Tools

After your read the Financial Benchmark Report, it’s time to apply what you’ve learned to your own business. The next step is understanding where you stand relative to the industry. The following templates provide you with tools to facilitate the process.

Benchmark Survey Expense Categories
Compare how your business stacks up relative to the studios in PPA’s Financial Benchmark. First, you’ll need to organize and record your expenses based on the expense categories used in our Benchmark. This Microsoft Excel template provides the list of expense categories you’ll need to use.

Home Studio Template
If your studio is home-based, use this template to compare your finances against the Benchmark.

Retail Studio Template
If you have a retail studio, use this template to compare your finances against the Benchmark.

Chart of Accounts For Quickbooks Users

This Chart of Accounts makes it easy for Quickbooks users to transition to the PPA-recommended managerial accounting format consistent with the Financial Benchmark Study. Once imported, you’ll be able to accurately track your expenses in Quickbooks using the same expense categories and then compare your studio’s performance against the Benchmark. 

Quickbooks Chart of Accounts
If you’re a new Quickbooks user, import this complete chart of accounts directly into Quickbooks. Download Chart of accounts for New QB Users (zip)

Quickbooks Expense Categories
If you’re already using Quickbooks, import this Chart of Accounts which contains only the recommended expense categories. Download Chart of Accounts for Existing QB Users

How to Import IIF Files INTO QuickBooks
Quick instructions on how to import .IIF Files