Business Plan For Event Photography
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Address and Phone Number
1-888-WED-PHOTO
E-mail:
Prepared: 4/30/01
Copy 1
Contact: Jesse Ward, Manager
►Wards Event Photography◄
This business plan is the property of WEP and contains proprietary information. This document cannot be reproduced, copied, or otherwise shared without the written consent of WEP.
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
Wards Event Photography Business Plan
Executive Summary
Wards 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 Jesse 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.
Jesse 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, WEPs marketing plan will focus on advertising in local areas like Salida, CaÑon City, Buena Vista, and Leadville. The advertising will emphasize WEPs 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 dont 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
Wards Event Photography Business Plan
WEPs vision is to provide the best photography services to people who want their special events captured and recorded for posterity at the best price and with the best value. Weddings, Birthdays, Anniversaries, Vacations, and Reunions will be WEPs forte. Anyone with any photography service need will be able to utilize WEPs services, however. For example, baby, engagement, and special request photography will all be available. WEPs Mission Statement follows:
“WEP provides the best event photography service in south-central Colorado, combining value, quality, and service in a package whose price is unbeatable”.
WEPs is requesting a 3-year, $10,000 loan for start-up costs that Jesse Wards contribution is unable to cover. Jesse Ward has approximately $8,000 in collateral available to secure the loan.
The requested funds will be used to purchase additional photographic equipment such as cameras, lighting accessories, developing supplies, and also to help the company during slow periods in its first year.
JRW 4/30/01
Wards Event Photography Business Plan
Company Overview
The companys name will be “Wards Event Photography”, and operate out of the home of Jesse Ward, owner and manager. There will be no retail store for the business at first, and most reservations will be taken over the phone and via e-mail.
Market opportunity explanation
The opportunity for a small start-up event photography service in this area is a good one. While there are several others in nearby towns, such as ARC Photos in Buena Vista and Avalos in CaÑon City, WEP would be able to offer lower prices