manley.josh 5:15pm, 24 February 2009
Ritz camera is filing chapter 11 and asking for money. I wonder if this would give us government subsidized camera gear?? :)

this is a better cause then Keanu Reeves' School for Acting
Too bad Ritz is about 30% higher than any other camera shop. Maybe their GOOB sale will make their prices normal?
Drew C 9 years ago
i dont think they're goin out of biz... just re-organizing debt...
manley.josh 9 years ago
thats what Circuit City said...
K. Praslowicz Posted 9 years ago. Edited by K. Praslowicz (admin) 9 years ago
The Online Photographer has an interesting post about Ritz today.

Follwoing that read, all I can say is go grab 100 of your files, and get some 4x6's printed up.
Well, maybe they shouldn't have banked on printing and should have offered more affordable prices on gear.
In the end they were another greedy company with high profit margins.
HBRstudios 9 years ago
Gear has by far the smallest profit margin and a place cannot sustain itself on that alone, unless you are into the world-wide distrubution market, not drop in customers.

Any business, including one offering photographic services, has to make money. I remember seeing a "top 10 most overpaid professions" list that had wedding photographer on it -- true to a point, considering that the worked out hourly wage is quite high, but you don't have weddings every day!

It all has to be balanced. I am guessing that if Ritz kept its business plan as it was, reduced it's prices on gear, and reduced the profit on prints, it would have gone out of business long before this. If they kept the low prices, but changed the business model, they would have turned into a B&H or the like to stay afloat (then, chances are another world-wide distributing business would have gone under due to the added competition.)

Anyway, I rant.
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