Summary of Business: My business is going to a student run private photography business. My business will fulfil the photography needs of my clients from doing family portrait photos to wedding and events photography. My rates will be cheaper than most as I am a sole trader and a student and own my own equipment meaning I will have less things to pay for, these competitive rates should help me gain more business and entice customers to come back.
Aim of business/ goals: As with all businesses my main goal will be to make a profit as well as this however my secondary goal would be to grow myself as a brand, get my name out there and become a recognised photographer. I can do this through the use of social media, I need a strong brand with a good company name and logo. My online presence will have to be large and I can use this to grow my audience and get my name out there. If I gain notoriety online as a good photographer through platforms such as Instagram then I'm more likely to get more business.
Importance of Plan: My business plan is important as it will keep me organised and motivated and remind me of my goals. Without a business plan I will not know what I am doing and will lose sight of the direction my business should be heading.
Staff: At first my business will probably be just me and with the type of business it is this will be okay. I should be able to manage my clients and work all by myself at first, later down the line I may need staff weather that may be to help with management or employ other people to take or edit photos for me. If I were to hire a photo editor it would take the work load of me and mean I could do more jobs meaning we could earn money quicker. As well as this I could always hire someone to manage my social media and help grow my brand. I would only need a couple of members of staff to help run my business.
Likely Clients: Family, Friends, people who have seen my photos online, the public and people from my university would all be likely clients. Like I said I would be able to grow my client base via the use of social media.
Unique Selling Point: Professional quality at student prices, the ability to provide photography for all my clients needs.
Resources: As well as owning my own Canon EOS 750D camera the university I am going to have a 'loan store' where students can freely take out pieces of equipment. Film students can access this equipment for free 7 days a week. The university has 20 Canon EOS 80D cameras and lens kits. These are top of the range, professional standard DSLR's that are priced around £3000 for the body alone. Having access to this kit would greatly improve the quality of my work and as it is free to me I wouldn't have any hiring costs coming out of my business.
Growth - Linear/Organic: I hope to grow my company and brand in both a linear and organic fashion. Social media use and customer support can help me earn more customers and money growing my company in a linear fashion. In an organic fashion I could always branch out and start to produce video content as well as just doing photos and go back to a business plan that is more similar to our Ufilms business that we have now, this wold give me a wider customer base and the chance to produce more content but for this I would need a full production team behind me.
SWOT: My strengths would be my current experience, the fact that I own my own equipment and do not have to pay out to hire it, and my knowledge on how to create a brand. My main weakness would be that I do not know anybody where I will be moving too and will therefor have to make new contacts in order to get business in what will be my new local area. As well as this I don't know anyone in my new area yet and will have to build relationships with people that may be willing to help my business. I will have to take advantage of any opportunities I get to perform work in the home that people will spread my name about, I'm sure there will be lots of opportunities to take photos around campus and acting students seem like people who are always willing to pay for professional photos. My biggest threat will be professional studio photography companies. Hopefully there wont be any close to my new campus and I'll be able to have a monopoly on the market there.
Contingency: If my business fails my contingency will be to go back to producing video content as a freelancer as this is something that I have experience in from Ufilms.
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