I have a small studio in the theatre district of Central London which I undertake commercial work such as actors headshots and Models portfolio's as well as some product photography. I also have managed to make a make shift still life set up at home with the help of a shooting Perspex table a boom with various flash heads which i use for a lot of my stock work. I tend to use a Canon 20D for a lot of my work for stock due to the ease of use and to keep costs down and the fact that I can view images instantly on a nearby computer! I use various lenses such as 10-20mm for wide angle work, a 28-135mm for various focal lengths and a 70-300mm Macro for extreme close up work. I also use a Medium format Mamiya RZ67 pro II with a 140mm Macro lens for certain high end stock shots with either a 6x7 or 6x6 format film and Polaroid for proofs. Using this film format is very costly in processing costs but worth every penny when I see the quality of the finished image, Of course I then have to sort through the negatives and select the frames to be sent off for Hi res scanning.
I undertake a lot of the Editing with Photoshop CS2 shooting Raw then converting to Tiff format, then carrying out any editing looking for dusk marks, using curves and levels to 'clean up' the image! I have a variety of different coloured background papers at hand depending on what the image will be with composition etc.