page 1 of 41...2013/03/01 · business plan taylor allan & lauren mathiott taylaur photography...

Business Plan

Taylor Allan & Lauren Mathiott

TayLaur Photography6204 Raytown RoadRaytown, MO, 64133816-500-5478(Cell Taylor) 816-255-7837(Cell Lauren) 555-555-5555(Work)[email protected]

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Table of Contents

I. Executive Summary

II. General Company Description

III. Products and Services

IV. Marketing and Competition

V. Marketing the business

VI. Operational Plan

VII. Management and Organization

VIII. Financial Plan

IX. Appendices

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I. Executive Summary

TayLaur Photography is a photography studio which specializes in special event photography. This includes engagement/wedding, modeling, babies, corporate, etc. Our customers will range from babies to older couples to corporate businesses and even models. The owners are Taylor Allan and Lauren Mathiott. The Photography industry grows every day, therefore our client base will grow over time as well. TayLaur Photography will offer great customer service, quality work and will be budget friendly.

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II. General Company Description

Our business will be in the photography industry, mainly focusing in event photography. We want to be an affordable photography company that captures wonderful images for the engaged couples or the newly weds or special events that need to be photographed.

Mission Statement:

TayLaur Photography is unique and affordable for every special event.

We will provide quality images and customer service in house. We value our customers and want to get their images back in a timely manner.

Vision Statement:

TayLaur Photography strives to be a unique and fun environment and strives to have the best customer service at all times. Our customers are valued in every way. TayLaur Photography focuses on tip-top editing of the images and products to make them to the customers satisfaction and being able to print the images in a timely manner for the customers as well.

Goals:

To be the top photography studio in the Raytown Area.

Objectives:

To create unique and creative promotions that bring in the customers and having the convenience of in house printing.

Business Philosophy:

To provide our clients with quality yet memorable photos while expanding our talents to the growing photography industry.

To whom will you market your products?

We will market our products to a wide range of people; from engaged couples to corporate businesses.

Describe your industry.

The photography industry grows on average every 3-5 years. Software for computers keeps getting updated, camera equipment gets updated as well. Photography studio, fast paced environment, growing industry every day, equipment changes every 5 years depending on what is.

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Long Term: equipment

Short Term: clients

Our company will be poised and ready for every curve ball, including keeping up with technology, meaning that with every advancement of software we will develop an understanding of how to function with the newer brands.

Describe your most important company strengths and core competencies:

Company Strengths: Strong marketing and good reputation, our package deals versus the other deals with the competitions in the area.

Taylor Strengths: has experience with photography equipment, purchasing and printing images, past experience with photography

Lauren Strengths: has graphic design experience , working with people and some photography background.

Secretary: should have skills and knowledge of cameras, editing software and new media.

SWOT:

Strengths: Knowledge of cameras, knowledge of editing software, knowledge of new media, both owners obtained college degrees, past photography experience with special events, good customer service and team work.

Weaknesses: New to the industry and lack of experience verses competitors

Opportunities: Room to grow

Threats: Local Competitors

TayLaur Photography is a Limited Liability Corporation

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III. Products and Services

Products Price Functions

Warranties $42.95 protect our equipment

27ʼ Mac Monitors $829.00 The mac computers will be used for editing the images and there will be a computer for the secretary for her use.

Canon 7D bodies $1599 The cameras will be used to photograph events

Canon 24-70 mm wide $2229 This lens will be used on the 7d bodies

70-200 $629.00 This lens will be used on the 7d bodies

fish eye $719.99 This lens wont be used very often unless we want to make creative photos

flash system, white lightnings $3,295 The flash system will be set up in studio

Pocket wizards $149.00 The pocket wizards will be used for the flashes for out of studio shoots

flashes for camera $569.00 These flashes will be used out side when needed

backdrops and stands $95.00 This will be used inside at the studio. The stands will be used outside as well for the outside shoots.

tripods $35.99 The tripods will be used to hold the cameras whenever we need the cameras to be held.

monopods $15.09 The monopods will be used for outdoor shoots

bags $50.00 The bags will hold the cameras

16g memory cards $55.92 The cards are for the cameras to hold the pictures

ipad $399.00 The ipad will be used to show the clients their pictures when it comes time to review

card readers $13.51 reads the cards

laptop $1199.00 The laptops will be used to show the clients photos during the shoots.

terabyte drive $122.99 will hold all of our images for a year time span after that they will be archived and moved off the drive

printer/fax/scanner combo $99.99 use for the secretary

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Products and services that TayLaur Photography will offer will be that of geared towards photographing any special events. Our services that we offer are in house photographs as well as outdoor photographs. TayLaur Photography has lighting equipment for both in doors and out doors. The lighting equipment is a flash system, the other production services that we offer is the computer bay editing area. This allows for TayLaur Photography to edit the photos right in front of the clients. During the photo shoot there will usually be only one photographer, but when it comes down to editing the photos in the studio we want both the photographers there to help assist the clients in making the best decision.

With having the editing bay for the clients to look at this might give us the competitive advantage that we need to keep growing. Though with the offer of having the edit bay depending on the size of TayLaur Photography work flow, showing the photos might not always be an option but we want to be able to show them if we can. TayLaur Photography offers in-house printing that allows for images to be printed right then and there to give and idea to the clients as to what they will be receiving in the less than two weeks turn around.

The biggest asset that TayLaur Photography has is our photographers have the highest experience in photography from past experience. Even with our experience we want to be able to have affordable prices.

Our prices will be worked out with our clients we have a set out plan for our clients to pay. Though if they can’t make the payments, we will work with them. TayLaur Photography wants people to be happy with the images and come back if they need something else shot, we want to shoot it for them.

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IV. Marketing and Competition

Market research - Why?We are affordable to the clients that can’t afford the high end photography. We want to be able to set a reputation of being affordable to the smaller budgets of our clients and having good quality photos at the same time. Though our quality of photos will be based on the clients perspective. We always have great customer service, what customers consider good quality photos will vary to customers to customer. We want to try and get established and get the word out about our studio and letting people know what we have accomplished in the past.

Taylor has been a photographer for many years and has published many photos over the last 6 years, though who knows what the competition has done compared to us. Lauren has a graphic design background.

We have Scott E. Thomas Photography and as well as Piper Photography being our main competitors. They are in close proximity. Scott E. Thomas, does about the same type of photography that we offer and yet Piper Photography is strictly a engagement/wedding photography business. Though, Piper offers something that neither one of the studios offer. They offer a photo booth that clients can add to their package if needed/wanted.

The United States Bureau of Labor and Statistics: With our competition the barriers to entry are difficult due to the fact that there are many highly qualified candidates that will be applying for the same position.

Though with how fast the industry is growing the outlook for jobs will be slow because according to the Bureau of Labor and Statistics, photography industry will grow only 13% in just ten years.

Source:

United States Department Of Labor. (2012, March 29).Career guide to industries. Retrieved from http://www.bls.gov/ooh/About/Career-Guide-to-Industries.htm

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Economics

Facts about your industry:

• 136,213

• The demand currently in our area is pretty limited due to the lack of economy. With this problem at hand we will make the effort to work together to offer our services at a better price than our competitors.

• Our target market wants to have those photos that stand out from other traditional especial event photography. If the economy isn’t in its best state, working with the customers budget/situation is what we aim to do.

• The growth of our business has high potential. With the growing of our business we want to be able to keep the clients rolling in. We want our clients to spread the word to other clients. Some more opportunity to help our business grow would that of adding a part to our business of framing the photos if the clients want to pay extra for that specific service.

• Entry Barriers to face:

o Poor Economy

o Unestablished

o Production costs

o Start up fees

o Customer loyalty will be low

• With the poor economy being able to work with customers to make the pricing more affordable for them, TayLaur Photography feels that it is important that we work with the clients in order to start being established out in the photography world. Though we are a new business we want to be able to promote ourselves in the highest and best way possible that allows for clients to respect us and come to us knowing that we have a low cost to our photography but yet get high quality and amazing photography/customer service at a low price. We want to be able to fluctuate with the economy

o Change in technology:

With the change in the technology it can vary, it can be a good thing and a bad thing. With technology changing non-stop, it will help TayLaur Photography with the quality of images and the quality of work that will be done. On the other side it can be a bad thing meaning that for how

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much technology is changing it means that we will have to make the money in order to update all of our equipment.

o Change in government regulations:

The biggest thing for regulations for the photography industry would be copyright issues. This can be a big issue if our images were to be stolen and placed somewhere else.

o Change in the economy

This will be the second biggest factor. If the economy were to spike and get better theres a good chance that our business could boom in sales. This could help us seek out other creative means that will help our business grow.

o Change in your industry:

The industry is always changing, at times during a particular season there is a high demand for special event photography, it really all depends. We will be most effective in offering a unique style of photography to the industry.

ProductFeatures and Benefits:

- Special event photography- Captures the moment

- Creative marketing strategy- Helps you sell your message

- Professionalism- seen through out the work place

- Creative and unique images at an affordable price

- Client satisfaction, if its not the way you like it we will work you

- Client one on one meetings before shoots

- Flexible pricing

- Flexibility is scheduling and times

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For each product or service:

• Beautiful photography is one of the most important feature we have. Being able to capture a moment at your special event that is a different way that people not might look at photos or special event photos. Having two photographers consulting before the shoots will be the best way that we can get the exact photos that the clients want to have for remembering those moments. We want to be able to edit some of the images in front of the clients to figure out if the image is of quality they want.

• The benefits that this product has that we can offer a variety of images that might look the same as the other competitors but they aren’t the same as other competitors. We want the clients to be able to look at the images and change them to the way that they want it.

What after-sale services will you give? Some examples are delivery, warranty, service contracts, support, follow-up, and refund policy.

After the consultation and the photo shoot its self, we will have constant communication. We want to make sure that the clients have the chance to look at the images and critique them. Though there will also be critiquing during the shoot, we want clients to be able to give advice as to how you would like your photos to look during the editing process. With the constant communication we want to make sure that there aren't any problems. We would want to set up a down payment to make sure that if the clients don't like the photos and communication and customer service they will get a discount and their deposit back. Delivery would be up to the clients, if clients would like the photos shipped we will ship them; though there will be the cost of shipping added into your final price.

CustomersDemographic profile:

• Age: 18 and up

• Gender: Male or Female

• Location: Raytown area and Kansas City area, though with the Kansas City area there are other photography businesses to compete with, we want to be the one business that is affordable.

• Income level: Income level would be low, we want to be able to be a company that is affordable to people that can’t really afford great photography, college range and up

• Social class and occupation: Social Class would be that of lower to middle class.

For business customers, the demographic factors might be:

• Advertising, Business, Wedding/Engagement

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• Raytown, Kansas City or Any area that may have a request

• Small size firms

• High Quality images will be taken. Though with how and what the client wants to be taken the price may adjust to what will be needed.

• Knowledge of knowing what exactly we are going to be photographing before we even start the shoot.

CompetitionWhat products and companies will compete with you?

List your major competitors:

Scott E. Thomas Photography 9711 E. 63rd Raytown, MO 64133

Scott E. Thomas Photography is a family owned business. They have no rules in their studio. Their studio has a television for the clients to see the images when they are shot. They offer a range of photography types. They also give 6 free 5X7’s for each referral. They also offer if they shoot a wedding they offer on free session each year for the rest of their lives.

Piper Photography 4741 Central St. Suite #338 Kansas City, MO 64112

Piper Photography is strictly engagement and wedding photography business in the Raytown/Kansas city area. The price range for Piper Photography is from $795-$1895. Though in this pricing for the studio they offer a photo booth rental in their prices and offer little incentives here and there that cost a fortune.

Piper photography will be a competition for us due to the photo booth. The photo booth is factored into the pricing packages for the wedding packages. Though on the other hand Scott E. Thomas will be our competition as well. Scott E. Thomas has a wide range of photography that they handle. We are prepared to break through these challenges with figuring out promoting ourselves in a better manner that gives us an edge. We think that the biggest thing would be get our name out there.

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Factor TayLaur Photography

Strength Weakness Piper Photography

Scott E. Thomas

Photography

Importance to customer

Products

price

quality

selection

service

reliability

stability

expertise

reputation

location

appearance

sales method

credit policies

advertising

Photography work that is of high quality and beautiful

for the client and affordable.

X the photos are cliche and look like all the other photography

The quality of photos are low, but there are a wide

range of products that allow the client for more

3

the price will fluctuate depending on the economic

status of the client

X Range from $795-$1895. if client wants

two photographers price goes higher

Higher prices with a large selection of products. The=y have more of a

higher corporate feel. Prices could seem intimidating

5

Quality is something we have but we strive to make

it better than what it is

X average quality nothing too special

the quality of images that Scott E. PHotography gives

is some what average.

5

Selection of services include photos and special event photos and standard

packages

X wide selection with an offer of a photo booth

to rent as well.

scott E. Thomas Photography has how the same choices that

we offer.

5

Our service will include fun photo shoots and quality

images/prints

X Doesnt offer great customer service and

wont responde to customer calls

they offer a special if you have them shoot your wedding you get a free photo shoot every year

4

TayLaur Photography will show reliability through

communication to our clients

X Will be reliable due to being an established

company

Will be reliable due to being an established

company

5

Stability though the business will be made

through coworkers, communication is the key

to the growth of the business

X Piper Photography is stable due to have been established for a whiile

Scott E. Thomas Photography is stable

due to have been established for a whiile

3

Photography background, graphic design background,

Knowledge of business

X Knowledge of how to do photography

Knowledge of how to do photography

4

Through receiving clients and building from there.

Building from the ground up reputation wont be there

from the beginning

X Slow to work with, slow on getting photos back to customers, left early

through reception

Well known in the Raytown area

4

Taylaur Photography is in a location that is easy for

people to find and its in a well traveled are

X easy access from the high way

on a main acces road and easily accesable

5

Professional work clothes will be worn inside and

outside the office.

X great appreaance High quality, people enjoy the company and the people who work for

it

4

Sales methods will be well planned and laid out in

detail for ourselves and for the clients

X slow to delivering prints sitting fee separate from special packages, have them do your wedding

free session once a year

3

With starting off as a new company these policies will be hard to set up with out certain measures. There

will be a payment schedule set up.

X unknown unknown 3

Social media will play a huge factor is our

advertising and getting out to clients

X not very good advertising no online

ads to be seen

offers advertising on social media

5

Table 1: Competitive Analysis

ADVANTAGES:

-Affordable

-Works with clients budgets if they cant afford the payment right then and there

-Young and able to learn quickly

-Both owners have had experience with photography or graphic design over many years

-Willing to take non-traditional photos, that the competition will not take

DISADVANTAGES:

-New to the industry

-We don’t offer a photo booth rental like our competitor, Piper Photography

-Won’t have clients right off the bat

-Won’t be well known and would need to work out way up from the bottom

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V. Marketing Your Business

NicheTayLaur Photography specializes in event photography. We will cover every aspect there is to think of with photography from the beginning to the end. The clients are out most important thing in the studio.

StrategyOur strategy will be to target the clients that need any specific form of photography through emailing, personal visits, word of mouth and social media advertising.

Promotion

TayLaur Photography will have a Facebook page to promote our business opening. The first 100 people to like the page will be giving a 15% discount on their first visit. We also plan to go through the process of becoming a member of the chamber of commerce.

TayLaur Photography feels that a big asset that we have can be going to trade shows. Some, maybe a large amount of our clients might be needing engagement and wedding photography or special event photography done. Another good form of advertising will be word of mouth we want be able to promote us as much as we can.

The image that we want to project is one: we have unique/beautiful photography for a low price. We want clients to come to us knowing that we are a different photography studio than the others.

Our logo isn’t like any other company logo. We want to promote the uniqueness through our business cards and anything else that we can hand out to make sure that our prospective clients look at our logo and say “umm..this is interesting, wonder about this studio and what they have to offer” and maybe this will lead them to our business.

Promotional Budget

TayLaur Photography in the future wants to start off going to trade shows to promote and/or gain clients. The price for trade shows ranges from $150 to thousands of dollars. The graphic designing, the editing, will be done in house and the price for the editing and graphics is included in the package prices.

Pricing

TayLaur Photography’s method of price setting is based off of a price of printing which is along with charging for editing the photos. There will be a $200.00 sitting fee.

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PRICING PACKAGES HERE.

Engagement/Wedding Package 1 $500



Modeling Package $250

Babies Package $200

Corporate Package $300

Miscellaneous Package $50.00 Per hour

Our prices are going to be a little lower than the competitors. Even though we are going to be low we want to offer specials that other companies might not offer. TayLaur Photography believes that with the low prices it might bring in more clients. Off the bat, it might not happen that way but we want to work out ways to bringing more and more clients into our establishment.

Price is very important cause businesses do not want to be the cheapest photography studio or the most expensive until they’ve built a good reputation. Customers tend to make their purchase based on price and reputation. Usually TayLaur Photography customers are on a budget and we want to be within their budget.

Customer service will be high with great attitudes and working toward making our client happy. Credit policies include cash check or credit.

Proposed Location:

6204 Raytown Road, Raytown, Missouri, 64133

Is your location important to your customers? If yes, how?

Yes, TayLaur photography is located in an easy to find destination to find for customers.

Is it convenient? Parking? Interior spaces? Not out of the way?

TayLaur photography is an easy based on location and easy access parking to the building. parking, there is parking in front of the building and behind and near by as well. Interior Spaces, there will be a waiting area and a screening area for the photos after the shoot. There will be a changing room, secretary area, design area, studio area and a bathroom.

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Is it consistent with your image?

We are an average photography studio laid back yet fun, unique and harding to get the images that our customers want.

Is it what customers want and expect?

Yes and more, we want the customers to feel apart of the experience and not have the photographer run the entire shoot. They want to be able to feel comfortable and feel weird about having their photo taken. We want them to be as comfortable as possible when coming to our studio.

Where is the competition located? Is it better for you to be near them (like car dealers or fast food restaurants) or distant (like convenience food stores)?

Competition is located in Raytown and in the surrounding areas. To us, having competition near us will help our business grow from the beginning. We want to be able to give the clients opportunities to look around and not just be stuck with one studio in the area.

Distribution Channels

How do you sell your products or services?

Customers can order TayLaur Photography products online, in house or mail order. Your own sales force.

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VI. Operational Plan

TayLaur Photography will consist of Taylor Allan- Senior Photographer, Lauren Mathiott-Graphic Designer and one secretary with computer knowledge which consists of Microsoft office and the Adobe Suite.

Production Most of the services that TayLaur Photography will be producing will be in house.

The biggest cost to TayLaur Photography would be that of printing pictures for the customers. We have to think about how much paper it will take for each image.

We want the customers to be able to buy as many photos as they can without any hassle.

With the production of the photographs TayLaur Photography wants to be able to produce photos in a timely limit. The time that TayLaur Photography will allow for production will be 2 weeks maybe less depending on the work load.

The way our production will go will be assed with how well we work with our clients

LocationWhat qualities do you need in a location? Describe the type of location you’ll have.

Office space that can accommodate 3 desks and computers as well as an area for clients to sit, there will also be a space for the clients to sit/stand and have their pictures taken

Physical requirements:

1,000 SF

Office building

Requires electricity and water utility payments

Parking in front building or near by areas

wheelchair ramp accessible

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Access:

TayLaur Photography wants to be able to get orders quickly. We don't want the truck drivers getting our equipment lost.

There are different times as to when it would be important, meaning that when it came time to receiving our equipment we would want our distributors to be able to get to us in a timely manner and not get lost.

Cost: $10,649

Lease: $458.33 monthly

Utilities: Electricity: KCP&L $150.00, Water: $30.00

Renters: State Farm $150.00 month

What will be your business hours: 9-5

regularly scheduled workday for our business office is: Monday though Friday, 9:00 a.m. - 5:00 p.m. (outside office hours will be set up by appointment)

Legal Environment Describe the following:

Basic Insurance coverage (liability, media, fire)

Trademarks, copyrights, or patents (pending, existing, or purchased)

Personnel and OperationsThis section is where you will put your organizational chart. Furthermore, assume that all of the responsibilities listed on the organizational chart will be shared by the people in your group, plus one part-time employee.

Taylor will be in charge of the main photography, overseeing package deals, meet with clients before the shoot.

Lauren will be in charge of over seeing booking of clients, editing the photos that Taylor shoots, oversee package deals, over see the printing of the pictures, discuss pricing deals with the families.

The secretary will be in charge of greeting customers, answering the phone, taking messages, booking clients, washing windows once a week, taking out trash daily.

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• Where and how will you find the right employees?

o TayLaur Photography will find their employees by advertising it on the Facebook page, having job applications available at the office and having it be viral. TayLaur Photography will find the right employees by having face to face interviews after the applicants submit the application and resume. Lauren will be the first to interview and the second interview will be held with Taylor. Taylor and Lauren will decide which potential employee fills the need of TayLaur Photography the best.

• Quality of existing staff

o Hard working and determined co-founders seeking to provide clients with unique photos on their special day

• Pay Scale:

o We charge clients based on which package they use.

• Training methods and requirements

o New employees will undergo 3-4 day training before starting with TayLaur Photography. The training will include customer service techniques, knowledge of office space, photography equipment and learning editing software and starting off job shadowing before getting started full by themselves. This way the employee has full understanding of the business.

• Schedule outline

o TayLaur Photography has Lauren, Taylor and the Secretary in the office Monday-Friday from 9am-5pm. Taylor, Lauren and the secratary will work weekends if there is a scheduled appointment. The schedule may change due to severe wether conditions and illnesses. No charge will be made to rescheduling the appointment. In case of changes Taylor and Lauren will need to be notified. TayLaur photography will schedule a 30 min lunch break which will be unpaid. All employees are required to take a lunch break.

• Job descriptions

o Secretary

serves as a liaison to TayLaur Photography and clients

responsible for paper work and scheduling

greets customers

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help head photographer when needed

help graphic designer edit photos when needed

help over see printing

keep office clean

keep track of office supplies

windowing washing

o Graphic Designer

edits photos using software

order office supplies

supervises secretary

keeps track of advertising and social media

oversees in-house printing

helps customers when needed

o Head Photographer:

Understand photography equipment

sets up for in-house photo shoots

attends Special Events

manages financial planning

• For certain functions, will you use contract workers in addition to employees?

o as of right now there will be no contract workers

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Inventory• The inventory that will be kept in the back will be ink cartridges for the printers, the

paper for the printers, we want to be able to keep a good inventory so that it will be easy for us to update when the time comes or it will be easy for us to change out stuff that we need. Once we see that we are low on inventory that will be the time that the secretary will need to order more supplies for us. We will also have some back up stuff there as well such as tripods, cameras, monopods and anything else that we don’t need out in the studio area. Most of the inventory that we use will be out in the studio area.

• The average value of stock for TayLaur Photography ranges $75-$15,000

• When it comes time for the seasons we want to be able to make it known that we want to and are willing to take photos during this time. We feel that it is important that we work as much as we can over the holidays to break even or even over the break even mark.

• When it comes time for ordering, it’s at least a couple of weeks for the photos depending on the amount of photos that need to be printed. The work flow for printing off the photos has to come in order that the photos were taken.

• Suppliers for Inventory

Identify key suppliers:

o Names and addresses

Apple Co: Plaza, Kansas City, MO

B&H: 420 9th Ave, New York, NY 10001

Canon:

Walmart: 11601 U.S 40 Kansas City, MO

Target: 17810 E 39th Street South, Independence, MO 64055

o Type and amount of inventory furnished

Apple Co: Software, Warranties

B&H: Camera Flashes, etc

Walmart: some small equipment

Canon: Cameras and some other quipment

Target: Smaller equipment needs

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http://www.bhphotovideo.com/find/HelpCenter/NYSuperStore08.jsp

http://www.bhphotovideo.com/find/HelpCenter/NYSuperStore08.jsp

Credit PoliciesTayLaur Photography will not have a credit option due to contracts signed at the beginning of the session stating a lump sum will be paid up front and the rest on a scheduled date to where the client can pay the final installment.

Clients will pay a $200 sitting fee which is including in each package that is offered.

The final payment will be made before all of the photos are handed over.

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VII. Management and Organization

The biggest asset will be our secretary that needs to know anything and everything about the industry. The Secretary will be the one setting up the appointments and ordering supplies when Lauren and Taylor cannot make the time to order the adequate equipment and supplies that TayLaur Photography will need in the long run. The secretary needs to have an understanding of the equipment such as the printer ink, printer paper, what kind of software we will need and almost everything that happens in our business and the market place. If the secretary were to up and leave it would be a loss to us but we would make do and keep working and trying to find a replacement that has the skills if not better skills than the one before.

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VIII. Financial Plan

12-Month Sales Projection and Analysis

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of 41

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of 41

Monthly Expense CalculationSalaries 5,000Hourly Wages 870Outside Services 0Office Supplies & Postage 150Dues & Subscriptions 0Donations 0Rent 458.33Telephone 150.00Utilities 180.00Loan Payment 3046Advertising & Promotions 20Truck & Vehicle 0Travel 25Payroll Taxes 0Taxes, Licenses & Permits 0Legal & Accounting Services 400Insurance 150Repairs & Maintenance 100Bad Debts 100Miscellaneous (unspecified) 0TOTAL MONTHLY EXPENSES 10649.33

YEARLY EXPENSES 127791.96

Cost/Pricing Analysis

TayLaur Photography has set hours from 9-5 Monday-Friday. We will not necessarily have clients scheduled or booked solid from 9-5. We base our prices off of the packages that are chosen by the customers, based on the event. We took into account photography time and editing time for the pricing for each package. The set hours will be used for editing images that need to be done.

of 41

Appendices

I. Cover Letter

II. Business Cards

III. Contract for photography

IV. Floor Layout

V. Map and Photo

VI. Detailed list of equipment

VII. Technology Analysis

of 41

Appendix I

of 41

Appendix II

of 41

Appendix III

Contract for Photography Services

Client's Name: __________________________

Client's Address: ___________________________________

Photography Location: ______________________________

Photography Date: Start Time: End Time:

Proof photographs are to be delivered to Client by MM/DD/YYYY

Minimum number of Photographs to be taken: _____Unlimited____ Max number: _______unlimited________

-With the unlimited number of photos does not mean that all photos will be given to the client. They will be edited down to about 200 or so.

Photographer's Fee: $200 Deposit paid: $__________(can be paid all at once if needed)

1. Proof photographs shall be delivered to the Client on CD. The client shall provide the Photographer with a written list of the proof images from which final photographs are to be prepared, and specify the number and format(s) of the final photograph to be delivered for each proof image.

2. The Client shall assist and cooperate with the Photographer in obtaining the desired photographs, including but not limited to specifying persons and/or scenes to be photographed; taking time to pose for photographs at the Photographer's direction; providing a person to guide the Photographer to desired persons and/or scenes; pre-shoot consultations, etc.

3. The Photographer retains copyright in the photographs, and hereby grants the Client unlimited but non-exclusive rights to use or reproduce the photographs for which the Client pays.

Client's Signatures

Printed Name

Address

Phone

Photographer's Signature

of 41

Appendix IV

of 41

Appendix V

of 41

TayLaur Photography

Appendix VI

Products Price Functions

Warranties $42.95 protect our equipment

27ʼ Mac Monitors $829.00 The mac computers will be used for editing the images and there will be a computer for the secretary for her use.

Canon 7D bodies $1599 The cameras will be used to photograph events

Canon 24-70 mm wide $2229 This lens will be used on the 7d bodies

70-200 $629.00 This lens will be used on the 7d bodies

fish eye $719.99 This lens wont be used very often unless we want to make creative photos

flash system, white lightnings $3,295 The flash system will be set up in studio

Pocket wizards $149.00 The pocket wizards will be used for the flashes for out of studio shoots

flashes for camera $569.00 These flashes will be used out side when needed

backdrops and stands $95.00 This will be used inside at the studio. The stands will be used outside as well for the outside shoots.

tripods $35.99 The tripods will be used to hold the cameras whenever we need the cameras to be held.

monopods $15.09 The monopods will be used for outdoor shoots

bags $50.00 The bags will hold the cameras

16g memory cards $55.92 The cards are for the cameras to hold the pictures

ipad $399.00 The ipad will be used to show the clients their pictures when it comes time to review

card readers $13.51 reads the cards

laptop $1199.00 The laptops will be used to show the clients photos during the shoots.

terabyte drive $122.99 will hold all of our images for a year time span after that they will be archived and moved off the drive

printer/fax/scanner combo $99.99 use for the secretary

of 41

Appendix VII

of 41

TECHNOLOGY ANALYSISTechnology: 27’ Mac Monitors Quantity: 3 Priority:yesSubstitutes? no Vendor: apple co Initial Cost: $829.00 Contract Required?: no

Continuing Costs: montly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?

Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?


Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology? The mac monitors will be essential to our business. These will be used for showing the images to the clients as well as editing the photos. We think, with the growing industry, having updated materials that are great for the industry is important. If we didnt have the computers or the material to work with our company would fall behind. We chose the mac monitors because of the growing technology.

The mac monitors will be essential to our business. These will be used for showing the images to the clients as well as editing the photos. We think, with the growing industry, having updated materials that are great for the industry is important. If we didnt have the computers or the material to work with our company would fall behind. We chose the mac monitors because of the growing technology.



Technology: Canon 7D bodies Quantity: 5 Priority: yesSubstitutes? well yes if we want to switch brands Vendor: canon Initial Cost: 1599.00 Contract Required?: NOContinuing Costs: monthly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?




For the industry having a good camera isn’t always necessary but when it is you want to have a top of the line camera. The 7D body is a newer brand but it is a good camera. The customers expect to have high quality photography. We chose this camera because its a good high quality camera at a great price.




Appendix VII

of 41

Technology: Canon 24-70 wide angle Quantity: 5 Priority: yesSubstitutes? well yes if we want to switch brands Vendor: canon Initial Cost: 2229.00 Contract Required?:Continuing Costs: monthly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?




The 24-70 wide angle lens is used for unique photography. It helps out with the creative shots that people want us to take. We chose this lens to add into our inventory because its a lens that every photographer should have in their equipment. We don’t believe that there will be a disadvantage to us not having this lens but it is an advantage to us having it. We want to be able to the means that we need to accomplish the tasks that we can accomplish.




Technology: Canon 70-200 lens Quantity: 5 Priority: yesSubstitutes? well yes if we want to switch brands vendor: canon Initial Cost: 629.00 Contract Required?:Continuing Costs: monthly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?




The 70-200 lens helps out with our photography. This lens is used for long distance shots it helps give a creative look to the photography. We chose this to be apart of our inventory because its an important need for the photographers equipment. The clients want to have unique and crisp images that look amazing.




Appendix VII

of 41

Technology: fish eye lens Quantity: 5 Priority: yesSubstitutes? well yes if we want to switch brands Vendor: canon Initial Cost: 719.99 Contract Required?:Continuing Costs: monthly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?




This lens really isn’t of high priority to add into the inventory for our business. This lens just helps out with the creative side that we want to do. Clients want to have those images that last for a lifetime and this lens helps makes those images unique and different from the other competitors.




Technology: flash system Quantity:1 Priority:yesSubstitutes? Vendor:B&H video photography Initial Cost: $3,295.00 Contract Required?:Continuing Costs: monthly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?




The flash system is an assortment of flashes, umbrellas, lens hoods, cords, stands and etc. This equipment will be geared mainly towards the in-studio photography and if need be it will be taken out side for outside photography. This will help light the stage for the photography and make the images beautiful. We chose this technology because it is a multi-function system that can be used for more than jsut one setting.




Appendix VII

of 41

Technology: pocket wizards Quantity: 6 Priority: yesSubstitutes? Vendor:B&H video photography Initial Cost: $149.00 Contract Required?:Continuing Costs: monthly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?




The pocket wizards are useful for the flashes that will be used in the in studio. This allows for the cameras to trigger this flashes without having a cord attached to the camera and then to the flashes. It makes it easier for the flashes to be moved around easily and as well as the models/couples.




Technology: Flashes for cameras Quantity: 2 Priority: yesSubstitutes? Vendor: canon Initial Cost: $569.00 Contract Required?:Continuing Costs: monthly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?




These flashes will be used when the flash system can not be carried around. These flashes are used for indoor and outdoor usage. This allows for the photographer to carry around a small compact flash that is important for a photographers equipment. the flashes help make the images look clear and professional. The clients want to have high quality images that will be kept for a lifetime, and the flashes will help with that proves.




Appendix VII

of 41

Technology: Backdrop Quantity: 2 Priority: yesSubstitutes? Vendor:B&H video photography Initial Cost: $95.00 Contract Required?:Continuing Costs: monthly payments if needed Contract Required?:Detailed explanation of use of technology, customer expectations, and any advantage or disadvantage your company will gain/lose with or without the technology, including a comparison of competitor’s current technology and/or use of this technology. Why did you choose this specific technology?




The backdrop will help with the indoor images and outdoor as well. This will help with making the images be different from the traditional images.




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