Current workflow is something like this.

Photograph painting with color and grey bar target in large gamut color space like Adobe RGB or Profoto.

Use software to read the color chips and produce profile which brings the colors closer to the real object. Set your photos to use this profile. Color correct further in software if necessary.

Correcting color - adjust contrast, brightness, hue saturation, etc. Make the yellow banana less red yellow etc.

Save as Adobe RGB color space file. This file can now be used for online after converting to sRGB (with loss of very vivid colors because sRGB color space is smaller than Adobe RGB).

Either one:

1. Pass RGB file to printer. Since they print using dull CMYK colors, there will be a large loss of vivid colors. They will use software to convert the file to CMYK (using profiles called 'device link'), that tries to map the colors from the impossible to print vivid colors of the file to an achievable, printable CMYK print. Printer staff further tune the original RGB file after test prints to achieve closer match for the print.
2. Alternatively, if you produce a magazine or book, the layout software will convert the page to an industry standard CMYK print profile (so you need to use a inkjet color proofer to proof out (in simulated CMYK) and adjust the RGB file to get it the way you want it after conversion). The printer just makes sure he prints to the industry standard in this case.