Small businesses

Draft Ideas

My initial idea is to start a small business as a freelance photographer. In this business I will advertise as a photographer for multiple different events. Anyone can hire from this business to have their event photographed at a high quality. The charges of this service would depend on the distance needed to travel for the event, the time needed to cover the event and the kind of event it is. 

Another idea is to be a freelance cinematographer. I can carry out the same projects as the photographer business however instead of taking photos, take videos instead. The same standards would apply from the photography however the clients would be different due to needs of different customers.

Finalised Idea

I have decided to go with the photography idea as my business. This is because it will cost a lot less than being a cinematographer and I feel that more people will be looking for a photographer. Saving money is important for starting out however when the company develops I could also develop the cinematography idea.


Business Plan

Daniel Appleton
M1402602

Sources of work
I am going to use multiple forms of Social media such as Instagram and Facebook to advertise on. I am choosing to use these because it is easy to get photography work on social media and easy to spread the message. Almost everyone is on social media so there will be a lot of people I can reach out to also. These particular sites are good for starting my photography business because they heavily involve photos and images. I will be able to get all my work out there for people to see. I plan on selling the photos to the client. This will be my main source of profit and what I am going to advertise. It will also be the only product I sell.

Staffing
At the initial start of setting up my business I could run everything by myself. This is because I am only taking photos in the North East area. I could easily travel on my own and taking photos only requires one person and a camera. My plan for staffing as my business develops is to hire a couple more people when there is enough money to do so. With more people I could take on multiple jobs at the same time. I could also hire someone as a photo editor which would save me time which I could be using to take on more jobs. If I find I need more staff but don't have the money it would be a smart option to hire an apprentice or take on some students for work experience. This won't cost as much money and it is beneficial for both participants. Also, when I have enough money to hire staff there will be people in line who already know the company well.

Strengths

• Photography experience
• Editing experience
• Customer service experience

Weaknesses

• Little financial backing
• Limited travel options
• Small client list

Opportunities

• Lots of facilities and companies starting up in the local area who will need my resources
• Lots of students with different skills willing to contribute

Threats

• No consistent work
• Lots of photographers trying to do the same
• Time management could be an issue

Costs and resources

I am going to need multiple photography equipment so that I can actually carry out my work. This will include: DSLR camera, Tripod and lighting equipment. These are necessary so that I can carry out all kinds of photography work which in turn broadens my horizons. The cost for hiring the equipment is cheaper than buying it however I will have to regularly use the equipment so constantly hiring it would total up to more than the buying price. For that reason it will be better if I bought what I needed as it would be cheaper in the long run. Another cost would be the travel expenses. Things such as Train and bus tickets as well as petrol money would be needed for me to get around to meet new clients and find more work. As well as this, there will be the odd repair that will need making to the equipment which I will have to pay for. 

Profit and Loss

The only money coming in to the company will be the money from shooting events and selling photos. Multiple jobs will earn more money but also add more cost as I will have to pay for things such as the extra travel expense and the extra equipment needed. There will also be money lost through the cost of repairs. I will charge based on the size of the event and the resources needed for it however I will have to ensure that this charge will be bigger than the money I am spending on getting this done so that I make some profit.

Proposal

SIn the future, my business can develop by branching out further afield than the north east . I could cover all of England and potentially all of Great Britain if I have the money. I could hire more people to cover larger events and cover multiple events at once. This would increase the profit I make and spread the name of the company. The company could develop into filming events as well as just taking photos to add more options for the client and increase our target audience.

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