FASHION MODELING- A BUSINESS

FASHION MODELING- A BUSINESS


Modeling is not just having a pretty face, trying on interesting clothes and strutting in front of a camera. Yes, it includes that, but it does not start nor end there. Modeling is an entrepreneurial business. Models are self-employed, which means they own their own business. Models must be willing to take a chance and invest time, money and ego in hopes of making it in the industry. Assets, which consist of the models’ overall physical appearance, portfolio, and composite cards, must be maintained. Without these assets and careful budgeting, the business will go nowhere.

When people are self-employed, as models are, every penny that goes into or out of the business needs to be accounted for. People who work for themselves do not have their taxes withheld by a company; instead, estimated quarterly taxes are paid based on the previous year’s income. It is important to keep records of all exp...