Market Analysis

Masino Photography

Masino Photography

Masino photography specializes in wedding and event photography. I capture priceless images to be shared for generations.

wedding and special event photography

Oakland California

Masino PhotographySole Proprietorship

Owned by the Photographer

Specializes in Wedding and Event Photography

Shot on Location

Process and business conducted at owner’s place of residencePhotographic services for weddings and events sold in various packagesStart at $3,000 with full day coverage, album, and numerous framed printsDeluxe package starts at $5,500 offers additional coverage, duplicate albums, loose prints, and framed printsPackage hand delivered two weeks after wedding

Product LineSimple PackageBasic PackageDuplicate Album PackageDeluxe PackageEngagement PackageFeatures

Meet with customers for initial consultation, second consultation and signing of contract, before and during wedding, proof review, and hand delivered productOver 200 shots to choose fromArchival Prints with master retouchingProfessionally bound album with over 100 prints and protective coverDVD with JPEGS for internet sharing and slideshows

BenefitsGreater satisfaction with variety of prints to choose fromGreat communication with clientsPreserve wedding for generations Makes it easier to share memoriesProfessional photographer with guaranteed satisfaction

Basic Package

5 hours photographic coverage

Proof consultation

One Album (including at least 75 prints)

2 16x 20 framed prints

3 11x14 framed prints

10 8 x10 loose prints

Archival DVD with slideshow

Cost $3,000

GoalsShort TermPurchase full frame digital camera

Create a website

Shoot as second photographer for experience

Shoot two weddings a month for first three months

Develop business relationships with other wedding vendors

Join a wedding photography association

Long TermAdvertise in a local newspaper and magazine

Have a table at a wedding expo

Increase monthly shoots to 4+

Hire a second photographer and editor

Acquire a wet and digital lab

Start up Cost and Personal Experience

Photo Equipment $3,800

Website: $100

Attorney Fees: $300

Insurance: $500

Advertising: $500

Total: $ 5,200

Owner will provide the finances for the initial start up cost

Experience

Owner has a degree in photography specializing in portraiture and photojournalism. Owner also has background in sales, finance, and management.

Breakdown of basic unitBasic Package

$3,000 plus sales tax

5 hours of shooting $ 200 $40 each additional hour

Transportation: $70

Editing and Archival DVD $320

Cost of Album: $100

Use of Equipment: $300

Cost of Prints from Lab $ 1150

Frames: $200

Assembly of Album: $200

Total Variable Costs $2340 78% of cost (31% is labor)

Contribution Market $660 22%

Break Even

Fixed Costs

Insurance $174 yr $16Equipment Deprecation $100Telephone $40Total Fixed Costs $156

Break-Even Point in Units= $156/$660 .24 weddings a monthBreak Even= 1 wedding every 4 months 3 weddings a year

Viability of BusinessFirst 6 months

Projected Revenue= $6,000 ($3,000 x 2)

Less Cost of Goods Sold= $4,680 ($2340 x 2)

this includes labor $1440($720x2) for living expenses

Gross Profit= $1320 per month

Within 3 ½ months all start up costs will be covered

Overhead is minimal most of business conducted on location & online

Owner does not solely rely on Photography Business for income

Gross Profits will be put into an account where 40% will be used for advertisement, promotion, and marketing.

Target Market

Engaged couples in the Bay area

Ages 25-42

First time married

Large family

College educated professionals

50K + income

Style conscious and tech savvy

Of 1,171,953 people over 15 years of age in Alameda county

47.4% are married

Competitive Analysis

There are many independent photographers within the Bay Area, over 200 according to the Yellow Pages

These photographers have many reviews and a large portfolios

Many have won awards and gained a popularity within the Bay Area community

Only shoot digital

Only offer a packages over $2,500

Style is the same

Only offer prints and albums

Competitive Advantage

Offer film and digital prints

Reasonable price

Different Style

Willing to travel to location

Hand deliver end result

Intimate approach due to less clients

Satisfaction guaranteed

Latest professional photography equipment usedNumerous framed prints included in package

Market PotentialGeographic Territory: the Greater Bay Area, photographer

will take any shoot 100 miles from Oakland for free and $1 a mile thereafter

Size of Market: Since there is not a centralized location market is larger

First Year: 2 weddings a month 24 weddings a year

$72,000 in Gross Sales

US citizens spent over $2,162,00 on weddings in 2008.007% of population will wed in any given regionAverage Price of San Francisco wedding $45,284Wedding Industry is stable in current Bay Area economy

Survey Results1. Male 33.3%

Female 66.7%

2. Age

21-25 33.3%

25-30 33.3%

40-45 33.3%

3. Martial Status

Single 33.3%

In a serious relationship 66.7%

Married 66.7%

4. Occupation

skipped 33.3%

Professional 66.7%

5. Zip Code

Bay Area

6. Highest Level of Education

some college 66.7%

master’s degree 33.3%

7. Weddings per year

0 66.7%

3-4 33.3%

8. Price of wedding

$5,000-$10,000 33.3%

no marriage plans 66.7%

9. Hired a photographer

yes 33.3%

no 66.7%

10. What is important?

Fashion/Style 66.7%

Technology 66.7%

Art 66.7%

Family Heirlooms 33.3%

Ideally survey would be distributed at wedding in exchange for complimentary calendar

Marketing StrategiesPositioning All work is customized to each individual client Branding is easily identifiable in photographer’s style Prints are framed and placed in albums to emphasize quality Use a shot list to have consistent work A working portfolio will represent the brand of photography available for hirePricing Expensive and ensures quality Is adjusted to competition in the Bay Area Similar to other high end photographers in the Bay Area, offer more for the same

price Mixture of cost plus and competition pricing Will remain consistent with costPlacement Events shot on location, photographer travels to clients Photographer travels to client instead of meeting at a business for convenience Client able to contact photographer by phone, email, and face to face meetings Interactive website where customers can leave feedback

Numerous consultation with clients to ensure satisfaction Able to cover a market anywhere in Bay Area and potentially anywhere in CaliforniaDistribution Customers will be reached through a website and local advertisement Attend wedding expos to reach clients and stay current with wedding trends Advertisement in local wedding magazines

All prints will be watermarked in bottom right corner for additional advertisement Good relations with other wedding vendors to encourage word of mouth to reach

potential clients

Packaging Customized framed prints

Customized archival hardcover album with a protective box

CD with JPEGS and TIFFS

All prints are archival

Use finest papers and inks

Service Enhancements

Customer satisfaction guarantee

Photographer reachable by phone and internet

Promotions

Enter wedding and other photography contests to increase creditability

Advertise in local newspapers and wedding magazines, it is better to get the prints in the hands of a potential client

Wedding expo to become a part of the local wedding industry, reach potential clients face to face, and find out what brides want

Have a raffle at the expo for free photographic coverage and photo album, additional prints must be purchased

Wedding vendors typically make suggestions to clients about who to choose for services

It is important to establish strong business relationships with other vendors

3-Mar-11

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

Personnel

Salaries, wages 1,450 1,450 1,450 1,450 1,450 1,450 1,450 1,450 1,450 1,450 1,450 1,450 $17,400Benefits 0 0 0 0 0 0 0 0 0 0 0 0 0Payroll taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Commissions and bonuses 0

Personnel Total $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $17,400

Market Research

Primary research 0 0 0 0 0 0 0 0 0 0 0 $0Secondary research 100 0 0 0 0 0 0 0 0 0 0 0 100

Library management 0 0 0 0 0 0 0 0 0 0 0 0Market Research Total $100 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $100

Marketing Communications

Branding 0 0 0 0 0 0 0 0 0 0 0 0 $0

Advertising 500 50 50 50 50 50 50 50 50 50 50 50 1,050Web sites 100 0 0 0 0 0 0 0 0 0 0 0 100

Direct marketing 10 10 10 10 10 10 10 10 10 10 10 10 120Internet marketing 0 0 0 0 0 0 0 0 0 0 0 0 0

Collateral 17400+100 0 0 0 0 0 0 0 0 0 0 0 0Press relations 0 0 0 0 0 0 0 0 0 0 0 0 0

Public relations 0 0 0 0 0 0 0 0 0 0 0 0 0Analyst relations 0 0 0 0 0 0 0 0 0 0 0 0 0

Events 50 10 10 10 10 10 10 10 10 10 10 10 160Marketing Communications Total $660 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $1,430

Channels

Channel communications and training 0 0 0 0 0 0 0 0 0 0 0 0 $0Channel promotions and incentives 100 0 0 0 0 0 0 0 0 0 0 0 100Channel commissions/bonuses 0 0 0 0 0 0 0 0 0 0 0 0 0

Channels Total $100 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $100

OtherPhotography Equipment 3,800 0 0 0 0 0 0 0 0 0 0 0 $3,800Telephone 40 40 40 40 40 40 40 40 40 40 40 40 480Equipment Deprecation 100 100 100 100 100 100 100 100 100 100 100 100 1,200Computers and office equipment 200 0 0 0 0 0 0 0 0 0 0 0 200

Other Total $4,140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $5,680Total Marketing Budget $24,710

Marketing Budget Plan