Hi Kiwi, I stand corrected, i should say it is not a "viable" business, because in singapore its generally not a high-value service and cannot leverage. Those photographers out there are not wasting time, they are doing something they love and at the same time earning money. Its highly respectable
I did not say photography profession is a waste of time i am just saying in a strict sense, a successful business needs to be either be of high-value or has leverage. Like you say a hot-dog seller in singapore cannot sell $5/pcs because this is just how it is. like wise for photography, You can push your price and quality but the culture here just limits it as far as it goes.
Theres nothing wrong with photography as a profession. But Photographers needs a plan and set a target when your career ends and upgrade yourself to a "new business" with the savings you have from your photography assignments. Try to save as much as you can while you still can shoot and plan a something new so that you still can have income when you gets old and yet still shoot in your leisure as a hobby.
I know many photographers do not have savings, all the money goes to feed the family, buy new equipments, advertisement. some even in debts.
Try shooting a full day wedding or commercial at the edge of 55. and do all the editing.
Photographers need to plan what's next.