PHRANC PHOTOGRAPHY STUDIO
TABLE OF CONTENT
1.0 EXECUTIVE
SUMMARY………………………………….. 1
2.0 INTRODUCTION …………………………………………… 2
2.1 VISION……………………………………………………….. 2
2.2 MISSION……………………………………………………… 2
2.3 KEYS TO SUCCESS………………………………………….3
2.4 COMPANY SUMMARY……………………………………….3
2.5 COMPANY OWNERSHIP…………………………………….3
2.6 COMPANY LOCATIONS AND FACILITIES……………….6
3.0 PRODUCTS……………………………………………………7
3.1 PRODUCT DESCRIPTION…………………………………..7
3.2 COMPETITIVE COMPARISON………………………………9
3.3 SALES LITERATURE………………………………………..10
3.4 TECHNOLOGY………………………………………………..10
4.0 MARKET ANALYSIS …………………………………………12
4.2 TARGET CUSTOMERS SEGMENT …………………………..12
4.3 MARKET TRENDS……………………………………………12
4.5 SWOT Analysis……………………………………………….13
4.6 INDUSTRY AND MAIN COMPETITORS……………………13
4.7 MAIN COMPETITORS………………………………………..14
4.8 COMPETITIVE EDGE………………………………………..14
5.0 MARKETING STRATEGY…………………………………..15
5.1 DISTRIBUTION PATTERNS…………………………………15
5.2 STRATEGY AND IMPLEMENTATION SUMMARY……….15
5.4 POSITIONING STATEMENT………………………………..16
5.5 PRICING STRATEGY………………………………………..17
5.6 PROMOTION STRATEGY…………………………………..17
6.0 SALES STRATEGY………………………………………………..18
6.1 SALES FORECAST……………………………………………18
7.0 WEB PLAN SUMMARY………………………………………..21
7.1 WEBSITE MARKETING STRATEGY……………………….21
7.2 MANAGEMENT SUMMARY…………………………………..21
7.3 MANAGEMENT TEAM…………………………………………22
7.4 MANAGEMENT TEAM GAPS………………………………….22
7.5 PERSONNEL PLAN……………………………………………..22
8.0 FINANCIAL PLAN……………………………………………….23
8.1 START-UP FUNDING…………………………………………..23
8.2 PROJECTED PROFIT AND LOSS……………………………25
8.3 PROJECTED CASH FLOW……………………………………27
8.4 BUSINESS RATIOS…………………………………………….28
9.0 CONCLUSION…………………………………………………..30
1.0 EXECUTIVE SUMMARY
There is no better way to represent memories than pictures. This is
the best way to remember those precious moments in families,
charities, events and also to capture those beautiful sceneries nature
has blessed us with. Time waits for no one; pictures capture those
moments in life.
Secondary school graduations are an important part of a teenager’s
life because he/she will soon be separated from those people who he
has shared his life without any certain idea when he will be seeing
them. Pictures of these moments will help him remember those
particular moments in school.
Charities, weddings, companies, states, schools and more sectors make
use of pictures for professional reasons or just to keep memories.
This business
plan will show how PHRANC PHOTO STUDIO will meet the needs of these costumers.
2.0 INTRODUCTION
The opening of Phranc Photo Studio will bring a whole new dimension in
the world of digital photography. We intend on improving the way these
memories are presented with the latest innovations in digital photo
editing.
2.1 VISION
We are aiming at being the best photo studio in the country in the
next 7 years with the level of creativity we will bring into the world
of photography
2.2 MISSION
We want to help our clients preserve the most important memories in
their lives, by providing our services at any time of the day. We also
will provide
our professional clients with posters for events and photo coverage at
those events with the best photographers.
Our objectives are:
Ø To generate a comfortable net profit by the fifth year.
Ø To develop systems of production for each product category that is
easy to replicate with new clients to keep it simple and fun.
Ø To have a client relationship system and call plan that will keep us
on top of each of our client’s scheduled needs at all times.
Ø Propose to the state, an album which will capture those sceneries,
and faces of the state.
2.3 KEYS TO SUCCESS
Our keys for success are:
Ø Target marketing for the gateway products of wedding pictures,
graduations, naming ceremonies, fashion events etc
Ø Developing relationships with our clients through personal customer
service, to turn one-time customers into lifetime clients.
Ø Our system of tracking clients’ ongoing needs for photos and taking
the initiative to call them for appointments.
2.4 COMPANY SUMMARY
Ezeoke Osita Franklin also known as Phranc, is a student who has work
as an event photographer. He has also has knowledge in the latest
photo editing software such as Photoshop, Picasa etc. The studio will
be temporarily sited in veterans plaza in Kubwa Abuja.
2.5 COMPANY OWNERSHIP
Phranc Photo Studio is a sole proprietorship owned and managed by
Ezeoke Osita Franklin which has palns of expanding in the near future.
Ezeoke Osita is a student of University of Nigeria, studying Estate
Management. He just has a passion for memories and digital technology.
He has 3 years of experience in event photography.
Start-up Summary
The total start-up requirements are broken down as follows:
Start-up expenses are itemized (in the business plan)
2.6 COMPANY LOCATIONS AND FACILITIES
We will open at a temporary site in Kubwa Abuja before it is moved to
Maitama in a 300 square metre property leased for 5 years. With
constant power supply and parking space.
The studio will have a highly visible electric sign and a 20-foot wide
display window visible to passing foot and auto traffic. Customers
will enter a public area with a counter, samples of our photographs
and albums, and couches for waiting. A separate playroom with props
and other toys will accommodate children with sitting areas for
parents, while a utility area off the back door will be set up to
accommodate pets and their props. Children, pets and props can be
brought into the photography studio for their
photographs. An office and working area will be used for assembling
the final product.
3.0 PRODUCTS
Phranc Photo Studio will help our clients to look their best, will
keep their photos up-to-date, and will capture the special moments of
their lives.
Phranc Photo Studio has a comprehensive program to preserve memories
on an ongoing basis. We see individual pictures, as gateway products
for our programs of ongoing photography.
All of our photos are created in a high-resolution digital format,
from which our prints are made. Since the Internet and commonly used
printers typically use the lower-resolution 300 dpi format, 300 dpi
digital files are available to clients for a nominal charge.
Higher-quality digital photos and
prints carry full pricing. We will retain the high-resolution data and
clients can order more prints from us if they wish.
Our photo studio includes quality props for portraits. The physical
environment of the studio is fun and comfortable, making families want
to come here. We also go regularly to people’s homes and bring cameras
and lights that are out of the budget of non-professionals.
3.1 PRODUCT DESCRIPTION
Our products include:
Naming Ceremonies Photos and Birthdays
With the latest equipment to capture memories of these events
following the birthday events of the babies.
Secondary School Graduation
These are an important part of a teenager’s life. Coverage of this
event for several schools will not only profit the business, but will
also keep very important memories for the kids.
We offer a special package of a family portrait at half price with the
senior picture. It is often the parents who are paying for the
graduates portrait, so we want to establish a relationship with the
parents. The parents will want a picture of their senior with the rest
of the family. This introduction to the family will allow us to market
our other services.
Family and Pet Portraits
