Phoebe’south Photo Studio
executive summary is a brief introduction to your business plan. It describes your business, the problem that it solves, your target market, and financial highlights.”>
Families demand photographs to capture the special moments of their lives. Families of professionals are decorated, and if too much time goes by betwixt photos, these moments are lost forever. Babies, peculiarly, grow fast and parents need photos of them several times a year.
While nigh everyone has a photographic camera for snapshots, people demand professional quality photos when they volition be shown to an of import audience, and when people desire to exist seen in the best light. The Cyberspace has expanded the use of photos, making it possible for anyone to send them or to publish them for wide viewing.
Phoebe’due south Photo Studio will meet the needs of professionals and their families to capture the special moments in their lives and present them in the best light. We will plant a relationship in which we initiate the calls to keep their photos upwards to appointment. Digital files of their photos will exist available for free past e-mail, or with a nominal fee for CD. Because of our relationship with the families, when something big like a wedding ceremony comes, there’due south no place else they would go.
Families with children are the biggest market for portraits. For the purpose of this analysis, these families are divided into three socio-economic categories:
- Higher graduates
- High school graduates
Families of college graduates are near likely to exist professionals and to have the means and the taste for professional portraits. There are nearly twenty,000 such families in the metropolitan area.
Competitor X is an award-winning, highly creative photographer with a style that 1 would await to find in a national magazine. His prices are the highest in the expanse, up to $15,000 for a nuptials album. His strategy appears to exist to capture the high-terminate market place, where a mag look is a luxury that people can beget.
Competitor Y is a more typical photographer with more than staged photographs and wedding ceremony packages running upwardly to $5,000. His strategy appears to be to occupy the middle-basis of quality and toll where most of the market is likely to be.
Competitor Z offers same-day photos. This is easier to accomplish with digital processing for a studio organized effectually speed, simply the quality is necessarily sacrificed. The market for same-day photos doesn’t necessarily demand quality. Prices are average. The strategy of this studio appears to be to appeal to convenience and speed.
Our competitive border is that nosotros provide non only a photograph, but a program of ongoing portraits to capture the special moments in a family’s life. We and then make the digital images of their photos easily and affordably available for distributing on the Net.
Phoebe’s will grow at a good for you almanac rate past targeting families of professionals with newborn babies for babe pictures and then developing a relationship with the client over the years for ongoing photographs. The funding envisioned in this plan is projected to effect in a comfortable good for you business concern by the third year.
Financial Highlights by Yr
We foresee a total of $80,000 in startup financing to get this business going and healthy. That comes $10K from owner savings, $20K as a v-year loan (family cosigning), and $50K every bit an interest-free loan from family.
If the business proceeds according to plan, we volition have near half of the $50K family loan paid off within three years.
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