These rentals will be provided with unmatched levels of customer service and attention. Sales are projected to be substantial in year one growing moderately by year three.
Set Dressing Services for Photo Shoots Photo Editing and Digital Editing Services Sales Forecast Even though many people are making use of smartphones and gadgets to take shots nowadays, there are still a lot of people who still need professional shots for varying reasons and it is these people that we will be looking to cater to.
Philadelphia is a bustling city that has lots of high profile visits as well as concerts, modeling gigs and other events where professional photographers are required and so we are strategically located and will be able to take advantage of this market to generate the revenue that will be needed to grow our business.
We are also confident of recouping our initial investment during the first year of running the business. We have critically evaluated the photography industry and the various services that we intend to offer and are optimistic about our chances of making it in the industry.
We have however engaged the services of a business consultant here in Philadelphia who not only understands the environment we are in but also has a thorough knowledge of the photography industry. The business consultant will be making use of data and information gathered from similar start-ups such as ours here in Fairmount Avenue — Philadelphia.
Below are the findings of our business consultant for Quick Flash Photography based on certain assumptions and findings; First Fiscal Year: It should be taken into account that the above sales projections were done based on certain assumptions that were in existence as at the time of the projection.
Also several factors were taken into cognizance such as the use of substitute devices by individuals, arrival of a major competitor and changing trends in the industry.
Therefore, it should be noted that should any changes occur to the listed factors, it would have an impact on the sales projections which might cause it to decrease or increase.
Marketing Strategy and Sales Strategy The importance of marketing for any business new or old cannot be overemphasized because it is with marketing that the business not only generates the needed revenue to ensure that the business has a healthy bottom line but the business is also able to generate the necessary awareness.
Even though marketing is very important, it is not usually an easy task to achieve because it entails having a marketing plan and then crafting strategies that will ensure that the plan is achieved.
Effective marketing strategies ensure that a business is able to penetrate the market and get a certain percentage of the target market to itself while also being able to fairly compete against existing competitors.
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Before any marketing strategies can be crafted and deemed effective, it is necessary to conduct a thorough market survey that will allow you have detailed information about the market you intend to offer your services to.
A market survey allows you to know who your target market is and what you should expect from them as well as what they are expecting from you. Also, through a market survey, you will be able to determine who your competitors are and what their strengths and weaknesses are; thereby affording you the opportunity of using this knowledge to the advantage of your business.
Because we intend to run a compact business, we will get a marketing team to conduct this survey and craft marketing strategies in line with our marketing plan so that we can achieve our overall goals and objectives. Below are the following marketing strategies that we intend to deploy in order to be able offer our services; Engage in sending bulk emails to a set of target individuals in order to generate awareness for our services Ensure that we engage the services of a web developer to create a unique website for us where we can easily promote our services Distribute handbills and fliers in various strategic locations Ensure that we advertise our freelance photography service on popular forums and blogs Make use of our social media platforms such as Facebook Page, Instagram and Pinterest to promote our business Freelance Photography Business Plan — Publicity and Advertising Strategy Publicity helps a business thrive by ensuring that a certain amount of buzz is created about the business.
Businesses both old and new engage in publicity because they are aware of the advantages that promoting their business brings both to its bottom line and against existing or new competition.
Because we are aware of how deeply intense competition in the industry is, we are aiming to engage the services of a brand consultant who understands our industry well to give us tips on how we can promote our brand strongly here in Fairmount Avenue — Philadelphia so that we can compete fairly against our competitors.
We intend to use both conventional and unconventional means when promoting our brand to our target market. Below are some of the publicity and advertising strategies that we intend to adopt when looking to promote our photography business; Ensure that we distribute handbills and fliers in various strategic locations Engage in relevant community programs in a bid to promote our brand Use social media platforms such as Facebook, Instagram and Pinterest to promote our brand Attend events, carnivals and related photography events in order to network and promote our brand Participate in popular online forum discussions in order to promote our brand Our Pricing Strategy Even though we will be offering an intangible service, it is important that we set prices that are not only seen as reasonable by our clients but one that will ensure that we have a healthy bottom line.
A lot of factors are used to determine what rates we should set for our services and we will use these factors when conducting a research about setting our rates.
Because we are new in business, we intend to attract more customers and also increase awareness for our business by offering value added service and in some cases discounts depending on the volume of work in our first three months of starting our business.
This strategy will enable us to attract more customers to our business, thereby covering up any loss that might have been felt during this period. Payment Options Businesses now have to deal with customers who have different preferences when it comes to paying for services and our photography business is no different, therefore we have different payment options that will suit our various clients no matter their preference.
The different payment options that we will be offering to our clients include; Payment via cash Payment via credit card Payment via bank transfer It should be noted that the above payment options were carefully chosen to work smoothly for our customers and for us as well.
Startup Expenditure Budget Regardless of the fact that we are running a service based company, we will still require capital in which to buy equipment, promote and advertise our business and pay the salaries of employees that we will likely employ and handle any other challenges that may likely crop up at least till we start generating revenue.
It should be noted that the bulk of the capital will be used to pay salaries of employees as well as buy the equipment that we would need for the business.
We would not be paying to lease a facility as there is a vacant space that we can use for free. Quinton is not looking to run the business alone and will therefore be splitting funding with an external investor.
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The arrangements have been drawn up and it is expected that the money will be credited into the account by the end of the week. The investor will have no hand in the day-to-day affairs of the business. Freelance Photography Business Plan — Sustainability and Expansion Strategy The aim of a business is to ensure that enough profit is generated to ensure sustainability and expansion of the business.
While it might seem easy enough to continue to re-invest part of the earnings back into the business, it is not always dependent on that factor alone as other factors have to be taken into consideration such as customer service and business structure.
Before a business can have enough revenue to plough back into the business, it must first have the right amount of customers, which is why customer service relationship is very important.
Customers love a brand that they feel listens to them and is prompt when attending to inquiries and bookings. Not only will a good customer service make the customer stick to the brand but it also enables them to refer others to the brand, thereby making it a win-win situation for the business.How To Start - Commercial Diving Service - Sample Business Plan Template - Kindle edition by BizPlans4u.
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Here's a Sample 'Executive Summary' for a Photography Business plan: [Business Name] is located in Red Lion, Pennsylvania, which is York County in the south-central region of the state. It was founded in by [Business Owner].
A Sample Aerial Drone Photography Business Plan Template Business Overview Aerial photography is the taking of photographs of the ground from an elevated/direct-down position.
Commercial Photography Business Plan Flash Commercial Photography's commercial photography business plan is designed around the needs of small and medium-sized businesses. Flexibility is key in their customer service plan and by involving the client in the creative process, FCP hopes to build a profitable business.
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