Business Plan for Ward's Event Photography
1.
0.0 Table of Contents
0.0: Table of Contents
1.0: Executive Summary
2.0: Company Overview
Market Opportunity Explanation
Legal Form of the Business
Company Location
History
Growth and Financial Objectives
Manager Information
3.0: Market Analysis
Summary
Analysis of the Industry
Target Market/Customer Profile
Competition
4.0: Service Offering
Summary
Uniqueness
Description
Competitive Comparison
5.0: Marketing Plan
Customer creation and retention
Pricing
Positioning
Delivery
Promotion
6.0: Financial Plan and Analysis
7.0: Cost Assumptions
1.0 2.
Ward’s Event Photography Business Plan
Executive Summary
Ward’s Event Photography (WEP) is a small business that provides photography services (with a focus on weddings) to clients looking for high quality, fair price, and great service.
WEP is organized as a sole proprietorship, with Ward as the owner and sole employee. He does all the photography for the events as well as taking reservations, purchasing equipment, and doing the business’ books.
Ward will be contributing his own capital to the business for start-up costs, and has secured financing from several other sources, but will still need $10,000 in start-up costs.
This business will be run from Howard, Colorado.
To start, WEP’s marketing plan will focus on advertising in local areas like Salida, Cañon City, Buena Vista, and Leadville. The advertising will emphasize WEP’s lower price, its quality, and its high value to people who need event photography done, such as wedding planners and birthday party organizers.
There are several competitors in the local area WEP will target, but these competitors, being better established and having retail locations, will charge more than WEP plans on charging. Also, some of these competitors, like Colorado Whitewater Photography focus only on certain types of event photography, such as white water rafting, and don’t provide the quality nor price WEP will. There is an opportunity to enter the market and succeed where these other competitors are lacking.
1.0, continued 3.
Ward’s Event Photography Business Plan
WEP’s vision is to provide the best photography services to people ...
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...00
Interest 112.00 112.00 112.00
Dividends 0 0 0
Debt Retirement 0 0 0
Other 0 0 0
Total Disbursements 4,982.00 5,127.00 5,170.00
Cash Surplus 10,758.00 19,086.00 29,586.00
Add:
Short Term Loans 0 0 0
Long Term Loans 0 0 0
Capital Stock Issues 0 0 0
Total Additions 0 0 0
Ending Cash Balance 10,758.00 19,086.00 29,586.00
7.0 21.
Ward’s Event Photography Business Plan
Cost List:
Location
Utility costs (electricity, gas, phone, etc.): $250/month
Transportation
Gas: $35.00/wedding (400 miles total, $1.95 per gallon, 23 mpg)
Maintenance: $30/month
Insurance: $75.00/month
Supplies/Delivery/Development
Film: $10.00 per 96 exposures
Photo Albums: $20.00
Website maintenance: $200.00/year
Development solutions/chemicals: $50.00/wedding (increases with II and III type weddings)
Photo paper: $50.00/wedding (increases with II and III type weddings)
Miscellaneous costs (food on way to wedding, lodging if overnight accommodations necessary): $60.00/wedding
Advertising
Phone book listings (Salida, Cañon City): $150.00/year
Brochures: $200.00
Business Cards: $45.00
Newspapers: $100.00/year
Adults $20 / Seniors $17 (65 years and older) / Students $10* / Children 4 years and younger are free.
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