This year thousands of amateur photographers will snap pictures on their digital camera and sell them online for extra money. It’s easy to do and you don’t even need to be related to Ansel Adams to get a piece of it.
Here’s what you need to know. Stock photo sites around the web gather photos from professional and amateur photographers alike. They then set up an online gallery that allows businesses and websites to purchase photos for commercial and personal use.
Every time one of your photos is purchased you will receive a commission and the business/website will obtain the right to use your picture in a company newsletter, web banner, etc. The stock photo site will also take a commission for setting up the deal.
If you are interested in giving this a try here are a few tips:
1. Know what pictures sell
Any photo that you submit to a stock photo site will require their approval before going live, so in less your ready for a flurry of rejection emails titled, “Nah- we’re good,” make sure you are submitting quality photos that are worthy and in demand. iStockPhoto has a handy list of what kind of pictures sell best: Stock Photo Demand List.
The short of it is that they are fully stocked on common pictures like sunsets, puppies, and cute babies. But they do need pictures of things like sporting events, holiday parties, and company retreats. Also, make sure that your pictures are properly formatted, cropped, and free of red eye before submitting them.
2. Sell to Several Companies
They say when you are investing in stocks that you should diversify and the same is true with selling pictures. Successful sellers have their photos listed with several companies so as to attract as much business as possible.
3. Be Persistent
When you first start submitting pictures you might notice that many of them get rejected. Don’t take it personally and realize that your accepted submission rate will increase as you get to know what kind of pictures companies are looking to buy.
The commission for selling one picture isn’t very high at only a dollar or two. However, that can start to add up very quickly. Say for example you submit your initial collection of pictures and start selling 3 of them a day. After a year you will have collected over $1500 in passive income. If you start to add an additional picture to your collection everyday, you will quickly see those earnings climb.
Good luck Penny Hoarders!