When most people think of modeling companies, large, international agencies that are known the world over come to mind. While these are modeling companies, there is a whole other set of businesses in this field. Smaller, niche modeling companies are more common and work with a much larger variety of models than the international high fashion agencies do. Starting a modeling company can be quite lucrative, especially if you live in a large metropolitan area. To build a successful modeling company, you will need to research and plan thoroughly before opening for business.
Instructions
1. Choose a niche for your modeling company. Having a specialty will allow you to target a certain type of client instead of spending time and money trying to attract a wide variety of clients. Examples of modeling niches: baby and child modeling, glamour or lingerie modeling;, swimsuit modeling, editorial and print modeling, runway and high fashion modeling, all male models or models of an older age.
2. Determine what role your company will serve. As a modeling company, you can be a booking agent with the duty of finding models jobs or a management company that focuses on promoting models and building buzz around them. Some companies serve both roles, but it is important to decide exactly what services you want to provide before you start advertising for models to join your company.
3. Name your modeling company and meet requirements in your state for using a "fictitious name" (DBA), unless your modeling company's name is your own name. You will also need an employer identification number (EIN) from the IRS if you plan to hire employees.
4. Check your state's guidelines to determine whether your company will need to post a bond. In some states, such as California and Texas, modeling companies that serve as booking agents must post a bond with the state. The bond amount, if required, is typically $10,000.
5. Develop your standard modeling contract and determine the fees you will charge. Most modeling companies that serve as booking agents take between 10 and 20 percent of what their models get paid. You may need to get the help of an attorney for this, especially if you plan to have exclusive contracts with your models.
6. Hire an in-house photographer to take photos of your models or find one to work on an as-needed basis (an independent contractor). You may also need to hire a graphic designer to retouch the photos if your photographer cannot perform this task.
7. Obtain a fax number, a toll-free number and hosting for a website. Websites are essential, so that potential customers (magazines, fashion designers) can see the models you have available for hire.
8. Place an ad for your modeling company on niche modeling websites, forums, and message boards and in magazines. You can also post ads in various places such as clothing stores, coffee shops and college campus hang-outs to attract your company's first models. Some modeling companies hold public auditions to get new talent as well.
