Professional Documents
Culture Documents
A Project Report On Performance of Bsnlcustomer Preference Towards Photo Studio
A Project Report On Performance of Bsnlcustomer Preference Towards Photo Studio
A Project Report On Performance of Bsnlcustomer Preference Towards Photo Studio
PROJECT REPORT
on
PERFORMANCE OF BSNLCUSTOMER PREFERENCE
TOWARDS PHOTO STUDIO
of
SESSION 2020
BY
1710101209
Under the guidance of-
MS. RUCHI RASTOGI R.RAJEEV BHANDARI
(ASSISTANT PROFESSOR)
Invertis University, Bareilly,
STUDENTS DECLERATION
I also declare that this is purely original work of mine with declaration and effort.
Date:
2
3
CERTIFICATE
This is to certify that JAINUL JALEES ANSARIAAGAZ SAJID of BBA –6 Semester in our
th
4
ACKNOWLEDGEMENT
Preservation, inspiration and motivation have played a key role in any venture. In the present
world of cutthroat competition project is likely a bridge between theoretical and practical
working, willingly I have prepared this project.
feel highly delighted with the way dissertation report on the topic "PERFORMANCE OF
BSNL CUSTOMER PREFERENCE TOWARDS PHOTO STUDIO" has been completed.
I express my utmost gratitude and ineptness to god and to all who have contributed in some
way or the other and been linked with the project from day one.
I express my sincere gratitude to Ms. Ruchi Rastogir. Rajeev Bhandari without whose
guidance, keen interest and regular encouragement my project would not been compiled.
From the core of my heart, I express my sincere thanks to Mr. Tarun Gupta Sir, Mr.
Manmohan Sir, and Invertis University for encouragement and guidance.
I am extremely grateful to my parents, the respondents and all my friends for their
unconditional support and ready assistance.
5
INDEX
Cover Page
Student Declaration
Acknowledgement
List of Tables
List of Figures
Chapter I- Introduction
Bibliography
6
CHAPTER 1
INTRODUCTION
7
INTRODUCTION
This introduction to photography is written for beginners, with several tips and suggestions to
take your skills as far as possible. However, writing an introduction to photography is like
writing an introduction to words; as amazing and important as it is, photography can be almost
limitlessly complex. What separates inspiring photographs from ordinary ones, and how can you
improve the quality of your own work? This article lays a foundation to answer to those
questions and more.
Photography
Photography is the art of capturing light with a camera, usually via a digital sensor or film, to
create an image. With the right camera equipment, you can even photograph wavelengths of light
invisible to the human eye, including UV, infrared, and radio.
The first permanent photograph was captured in 1826 (some sources say 1827) by
Joseph Nicéphore Niépce in France. It shows the roof of a building lit by the sun. You can see it
reproduced below:
The purpose of this article is to introduce the past and present worlds of photography. You will
also find some important tips to help you take better photos along the way.
Color photography started to become popular and accessible with the release of Eastman
Kodak’s “Kodachrome” film in the 1930s. Before that, almost all photos were monochromatic –
although a handful of photographers, toeing the line between chemists and alchemists, had been
using specialized techniques to capture color images for decades before. You’ll find
some fascinating galleries of photos from the 1800s or early 1900s captured in full color, worth
exploring if you have not seen them already.
8
These scientist-magicians, the first color photographers, are hardly alone in pushing the
boundaries of one of the world’s newest art forms. The history of photography has always been a
history of people – artists and inventors who steered the field into the modern era.
So, below, you’ll find a brief introduction to some of photography’s most important names.
Their discoveries, creations, ideas, and photographs shape our own pictures to this day, subtly or
not. Although this is just a brief bird’s-eye view, these nonetheless are people you should know
before you step into the technical side of photography:
Invention: The first permanent photograph (“View from the Window at Le Gras,” shown
earlier)
Where: France, 1826
Impact: Cameras had already existed for centuries before this, but they had one major
flaw: You couldn’t record a photo with them! They simply projected light onto a separate
surface – one which artists used to create realistic paintings, but not strictly photographs.
Niépce solved this problem by coating a pewter plate with, essentially, asphalt, which
grew harder when exposed to light. By washing the plate with lavender oil, he was able
to fix the hardened substance permanently to the plate.
Quote: “The discovery I have made, and which I call Heliography, consists in
reproducing spontaneously, by the action of light, with gradations of tints from black to
white, the images received in the camera obscura.” Mic drop.
Louis Daguerre
9
Quote: “I have seized the light. I have arrested its flight.”
Alfred Stieglitz
Dorothea Lange
10
Ansel Adams
Apple became the world’s first trillion dollar company in 2018 largely because of the iPhone –
and what it replaced.
Alarm clocks. Flashlights. Calculators. MP3 players. Landline phones. GPSs. Audio recorders.
Cameras.
Many people today believe that their phone is good enough for most photography, and they have
no need to buy a separate camera. And you know what? They’re not wrong. For most people out
there, a dedicated camera is overkill.
Phones are better than dedicated cameras for most people’s needs. They’re quicker and easier to
use, not to mention their seamless integration with social media. It only makes sense to get a
11
dedicated camera if your phone isn’t good enough for the photos you want (like photographing
sports or low-light environments) or if you’re specifically interested in photography as a hobby.
That advice may sound crazy coming from a photographer, but it’s true. If you have any camera
at all, especially a cell phone camera, you have what you need in order to take great photos. And
if you have a more advanced camera, like a DSLR or mirrorless camera, what more is there to
say? This is the guide for you – it’s time to learn photography.
Camera. If you buy a dedicated camera (rather than a phone), pick one with interchangeable
lenses so that you can try out different types of photography more easily. Read reviews, but don’t
obsess over them, because everything available today is pretty much equally good as its
competition. Find a nice deal and move on.
Lenses. This is where it counts. For everyday photography, start with a standard zoom lens like a
24-70mm or 18-55mm. For portrait photography, pick a prime lens (one that doesn’t zoom) at
35mm, 50mm, or 85mm. For sports, go with a telephoto lens. For macro photography, get a
dedicated macro lens. And so on. Lenses matter more than any other piece of equipment because
they determine what photos you can take in the first place.
Post-processing software. One way or another, you need to edit your photos. It’s ok to start
with software already on your computer, or software that comes with your camera. But in the
long run, a dedicated program will do a better job. Adobe sells Lightroom and Photoshop as a
bundle for $10/month, or you can buy standalone software from another company if you prefer;
there are tons of options. Whatever you pick, stick with it for a while, and you’ll learn it quite
well.
Your camera has dozens of buttons and menu options. If you pick the wrong camera settings, it’s
possible that your photo won’t turn out the way you want. How do you make sense of all these
options? And how do you do it quickly in the field?
13
It’s not easy, but it’s easier than you might think. In fact, most of the menu options are things
you’ll only set one time, then rarely or never touch again. Only a handful of settings need to be
changed frequently, and that’s what the rest of this Photography Basics guide covers.
The three most important settings are called shutter speed, aperture, and ISO. All three of them
control the brightness of your photo, although they do so in different ways. In other words, each
brings its own “side effects” to an image. So, it’s a bit of an art to know exactly how to balance
all three for a given photo.
1. Shutter speed: The amount of time your camera sensor is exposed to the world while
taking a picture.
2. Aperture: Represents a “pupil” in your lens that can open and close to let in different
amounts of light.
3. ISO: Technically a bit more complex, but similar to the sensitivity of film for taking
pictures in different lighting conditions.
Remember the Ansel Adams quote from earlier? There is nothing worse than a sharp image of a
fuzzy concept. If the idea behind a photo is weak, using the right camera settings won’t make it
better.
At the same time, camera settings are some of the most important tools you have at your
disposal. In a way, every technical choice is really an artistic choice in disguise. These
settings are worth learning. Your understanding of photography will improve tenfold when you
understand how camera settings work.
14
So, the next few chapters of this guide will cover the most important camera settings: shutter
speed, aperture, and ISO. Then, we’ll dive into the deep end of composition. This is how photos
are made.
Photography FAQ
If you have any additional questions, or you are looking for a quick answer to your question, we
put together a small FAQ section related to photography below:
15
photography, you will need a number of different lenses, a tripod and filters. For portrait photography, you will
need to invest in a good portrait lens and potentially some lighting equipment.
16
What is the best type of photography:
Every photography genre has its own appeal. Some people like some genres of photography more than others.
17
CHAPTER 2
LITERATURE REVIEWS
18
LITERATURE REVIEWS
Pestalozzi (2018) represented a turning point in the history of the teaching of drawing because of
his claim that drawing could be justified as an essential and integral part of every child's
education and not merely as an extra activity. According to him every child has to learn how to
draw and without instruction in drawing there could be no harmonious human development.
Pestalozzi is the first to attempt to teach drawing according to pedagogical principle. He
recognized drawing as an educational subject and granted it the same position and importance as
other essential educational subjects.
Developmental theories in art originated in the work of Luquet (2018) who used naturalistic
observations to describe stage- like progressions in children’s drawing. He assumed that
children’s drawings were based on an internal mental model. He identified five stages of
development in the first stage ‘fortuitous realism’ a child recognizes likeliness between their
spontaneous scribble and something known to them in the world. The child’s discovery that his
or her marks can be representational leads to more intentional mark making. Luquet calls the
next stage ‘failed realism’ when referring to the child’s inadequate skills for producing a
likeness, and ‘synthetic incapacity’ when referring to the child’s inability to place marks in
correct spatial relationships. The first stage of successful intentional representation is called
‘intellectual realism. This is where the child draws not only what they see but also what they
know.
Piaget and Inhelder (2017) argued that a child’s drawing performance reflected the child’s
cognitive competence. Until a child reached the concrete operational stage of development, the
child was tied to egocentric mental models of the world. Only when a child enters fully into the
stage of concrete operations can combine concepts of perpendicularity, parallelism, seriation and
proportion with new ability to discriminate different viewpoints and selecting a view point to
depict, produce visually realistic drawings. According to Piaget drawing was not a special
domain of development but merely a window into the child’s general cognitive development.
19
In Erikson’s (2018) view the school age child is focused emotionally on demonstrating skill.
Artistic realism seems to be valued in culture, so realism is reflected in children's drawings. If
children judge themselves to be good at drawing, they will likely to continue drawing, to see
themselves as competent.
Gibson(2017) indicates that controlled practice or training and instruction can improve
perceptual judgments and increase the accuracy and differentiation of drawings.
Lowenfeld (2017) published “Creative and Mental Growth”, which quickly became the textbook
for art educators. Lowenfeld argues that there are six clearly defined stages of artistic
development.
Salome’s (2016) statistical study of visual perception argues that the children need rigorous
drawing programs which would teach them the specifics of drawing.
Nelson and Flannery (2017) examined the direct teaching of perceptual skills. Their focus was
the relationship between teaching styles and student’s drawing styles. They found a positive
correlation between direct teaching of perceptual skills and children’s drawing performance.
Goodman (2018) in his book ‘Languages of Art’ represents a fundamental turning point in the
analytic approach to artistic issues. His unorthodox approach to art is part of a general approach
to knowledge and reality and is always pervasively informed by his cognitivism, nominalism,
relativism and constructivism. From Languages of Art and subsequent works, a general view of
the arts as contributing to the understanding and indeed to the building of the realities we live in
emerges.
Arnheim (2016) intended to narrow the gap between scientific and artistic knowledge, to use
scientific findings to better understand the arts while preserving the equally pivotal role of
subjectivity, intuition, and self-expression. He challenged the age-old distinctions between
thinking and perceiving, and between intellect and intuition. Arnheim argues that the
development of drawing in young children is one of progressive differentiation. He describes the
child’s development in drawing as the progressive production of graphic forms, either invented
or taught, by which the child tries to realize his or her intention for a particular picture. Arnheim
sees these progressive differentiations being driven largely by aesthetic considerations. He
20
recognizes schematic drawings as necessary steps towards depictions that are more complex
rather than deficient representations.
Kellogg ( 2018) points out that by understanding the developmental stages children progress
through when drawing, you will be able to allow your child to express themselves spontaneously.
She analyzed hundreds of children’s drawings from around the world and identified twenty
different basic scribbles. She suggests that these scribble were acquired in a developmental
sequence and that there might be a chronological framework that describes drawing in terms of
cognitive development. She suggested that children need to progress through the described
stages and viewed the omission of detail as lack of knowledge or misunderstanding.
Salome and Reeves (2017) developed a drawing program which gave children the specific
perceptual training. This program managed to increase young children’s visual perceptual
learning as well as the amount of visual information in children’s observational drawings. They
showed how perceptual training of very young children could also benefit the children’s
readiness to read.
Grove, R (2015) focuses all aspects of fine and performing arts for gifted and ways of
implementing such programs at the local, state, and national level in an overview of
presentations at the national conference on arts and humanities.
Schwartz (2018) tries to explain the interaction of text and pictures. For young children it may be
that thinking and designing occurs most effectively orally and mentally, and that there is no need
for them to draw the design they have created in these ways.
Golomb (2016) considered the child as a problem solver. She examined children’s drawing and
sculpture problems. The problems that the children possess in their studies are inherent to a
particular graphic media that the children are using. She also discusses the nature of the visual
problems the children have to solve in order to represent their ideas. According to Golomb, the
problem solving occurs within the context of visual presentation is of value to the child’s overall
development as a problem solver. Golomb considered children’s drawing development in terms
of cognitive, problem solving activity. Within a broad framework of human development, she
studied children’s drawings as a creative search for meaning. She considered representational
drawing to be a truly creative activity that is invented and reinvented in every generation and
21
across different cultures to form a basic vocabulary of graphic shapes. She focused on cognitive
activity that is motivated by a child’s need to make sense of their world. She examined children’s
drawings for symbolic references to children’s experiences.
Golden (2015) describes five different types of visual-verbal relationships in picture storybooks:
"text and picture are symmetrical; text depends on picture for clarification; illustration enhances,
elaborates text; text carries primary narrative, illustration is selective; and illustration carries
primary narrative, text is selective"
Cox (2015) conducted studies on the use of transparency in children’s drawings. According to
Cox, a child is mentally able to use symbols to represent reality by 18 months. Therefore a child
can engage in pretend play. This ability to pretend can be seen as a toddler uses the movement of
the crayon or marker to depict an action in his or her drawings. Dots, for example, may be rain
falling or animals moving about the page. Gestures are used to represent the action.
Fein (2016) examined drawings for similarities amongst the drawing of children, artists, and
drawings from the past. She looked for some developmental progression from descriptive
pictures to symbols that are more abstract. She high lights some of the similarities between the
progression of children’s drawings and a historical or evolutionary progression over time.
Hayes et al. (2016) suggested that children’s drawings in science can contribute to the
development of individual skills, knowledge and understanding. Drawings have been used in a
variety of ways when they have been used to probe understanding in science. Drawing activities
have been successfully used to explore children’s ideas about abstract concepts.
Scardamalia et al. (2016) studied on graphical tools for representing students’ knowledge lead to
gaining skills in graphical representation of concepts. Researchers conclude that Knowledge
Forum experience leads to student gains in graphical literacy.
Arnold et al. (2016) have shown how young children’s ideas about the Earth as viewed from
space developed from simple notions of a flat cylinder to a sphere. This investigation attempted
to group children’s drawings into levels of understanding. In Strommen’s (1995) research into
children’s drawings of a forest, drawing content has been quantified.
22
Costal (2015) in relation to view specific drawing, has criticized the notion that children will
become better at drawing by attending to their retinal images. He asserts that children’s
progression towards view specific drawings is due to cultural convention.
Sommer’s (2016) "Drawing and Cognition" describes experimental studies of graphic production
processes and argues that the act of drawing is a "graphic engine or a production system" that
helps people generate concepts. Goel’s "Sketches of Thought" argues that drawings are ‘external
symbol systems’ to represent real world artefa
Welch et al. (2016) says that drawing is a method by which children explore a problem, and
discussion between children plays a major role in clarifying problems. For most young children
what they produce in the design phase is seen as only one possible solution, the model they make
later is yet another and (in their eyes) more significant solution.
diSessa’s (2016) article “changing minds of children”, as technology integrally affects the way
children represent, communicate, and remember, in and out of school. He stresses the use of
geometric forms in primary grades and basic art concepts are given as colour, line, form, space
and texture.
Freedman (2017) has a new appreciation of the visual arts as a way of making meaningful
connections with the world so as to understand its purpose, meaning, relationship and influence.
In Freedman’s words “Conceptualized as visual culture, the visual arts do not only represent
culture, they are the physical embodiment of it” .This socio-anthropological and sociocultural
approach to teaching visual culture is particularly relevant to the complex multicultural
postmodern society we live in today. When we realize that visual arts and visual culture are
already an important part in the life of every student, we can provide every child with a culturally
and socially relevant experience in visual arts.
Fish (2015) in "How Sketches Work" point out that sketches are representations of "visual
thought" that help to facilitate perception and translation of ideas. He argues that a diagram is a
representation created to externalize and visualize problems.
23
Suwa and Tversky (2014) report that drawing is important in that it reveals a designer’s thinking
graphically and facilitates problem solving and creative effort. They argue from their
retrospective reports of design process that drawings provide visual cues for revision and
refinement of ideas. They also classify the information in the verbal protocols into different
categories such as spaces, things, shapes, views, lights and circulation.
Meier (2015) discussed the importance of encouragement, nurturing and modelling in the
development of artistically talented individuals. Artistically talented people are influenced by a
number of factors which are inherited, acquired, and learned. The presence of a close friend or
mentor to encourage the developing talent is necessary.
Carlson (2016) observed that fourth, fifth and sixth graders who were provided special stimulus
materials (pictures, records, toys) wrote longer and more original compositions and used a more
versatile vocabulary than students in the control group who were writing on an assigned topic.
According to Piaget and Inhelder (2015), preschoolers draw what they know about the world,
rather than attempting to capture a photographic mirror of reality. That is why we see drawings
depicting both the outside and inside of an object at the same time. While approaching realism,
drawings remain fanciful throughout the preschool years with imagination leading colour,
composition and content. Piaget & Inhelder, interpreted many early drawing phenomena as
pictorial.
Koppitz (2017) found that girls tended to include more body parts and clothing in their figures
than boys. Because drawings are often determined and interpreted, in part, on the basis of realism
which is identified through completeness of the human figure(s), the additional details drawn by
the girls could be misinterpreted as manifesting superior intelligence.
Olson (2015) found that teaching children drawing rules resulted in a significant improvement in
their ability to make drawings. There is some evidence that children use rules when drawing.
First, children often copy simple shapes in the same way. Second, children seem to follow the
same route when making drawings of the same figure.
24
Phillips et al. (2017) developed a coding system on children’s drawings of single cubes, in
which drawings were coded for structural errors, the number of faces shown or as an exhaustive
categorization of the different forms obtained
Freeman and Cox (2014) have examined a variety of drawing problems with young children
using a developmental framework. While Cox does acknowledge differences in the
representation of the human figure in different cultures, these studies seem to be primarily
concerned with determining the age at which certain drawing behaviours most likely occur.
Children’s drawings, particularly figure drawings, are still used in the cognitive assessment of
young children.
Bremner (2015) conducted Studies using real objects as subject matter have generally involved
either an elevated view, with the child looking down at an angle on the array so that far objects
were either totally visible or partially occluded by near ones, or an eye-level view in which the
far object is totally occluded by the near one.
Cratty (2014) termed scribbling as "motor babbling”. According to Cratty by providing children
with the materials and opportunities to scribble we can promote physical skills. Just as babbling
is a natural way to gain language, scribbling is a natural gateway to muscle control and
coordination.
Cox (2014) suggests that although young children do not spontaneously use partial occlusion,
they do feel constrained to show only the objects that are visible in a scene, omitting totally
occluded ones.
Golomb and Helmund (2014) attempted to explore preschooler’s attitudes toward their
drawings, through the investigation of their thoughts and feelings about the activity, the medium
and the mode of representation. They found that regardless of the medium (paints or crayons)
used, children were satisfied with their own productions. For example, most children seemed
25
surprised when asked about altering something in their drawing. Further, when asked if there was
anything they could do to make it better, only a few children accepted that they could improve it.
To our knowledge, Sommers (2015) is the only researcher to present a global cognitive model of
drawing abilities. He organizes it into two hierarchical systems: Marr's model of visual
perception and a graphic production system. The latter comprises four hierarchically organized
components: depiction decisions, production strategy, contingent planning and articulatory and
economic constraints.
In Finke’s (2017) research on the use of images for creative synthesis, subjects are shown a set
of geometric shapes and asked to suggest a creative combination of them. Finke’s model of
creativity claims that new configurations can be generated and explored by manipulating and
combining images.
Wales (2014) in a study of pictures produced by aboriginal children in Australia, examines what
can occur when children are exposed to quite different cultural influences. He makes distinctions
between a child’s mental representations and the different ways that may be used to realize that
representations pictorially. Wales cautions us to consider the cognitive, personal and cultural
factors that could be taken into account when studying children’s pictures.
According to Braine et al. (2015) children’s drawings show dramatic gains in organization,
detail, and representation of depth during middle childhood when some depth cues such as
making distant objects smaller than near ones begin to appear.
Toomela (2015) analyzed drawing as a system rather than a unitary ability. The aim was to
investigate whether and which language factors influence drawing performance and drawing
development. In two studies of 2- to 11-year-old children drawing as a system of components
was investigated. Tests were designed to measure motor output, imagery, memory, perception
and verbal abilities. The analysis of relationships between drawing measures and 0components
of a drawing system revealed that all of the proposed components independently affected
drawing development. Results of analyses of the data from younger and older children separately
suggest that different components of a system are crucial for drawing development at different
phases of development.
26
Gardner's (2015) multiple intelligences framework reminds us of the importance of developing
children's abilities to comprehend and interpret various sign systems and to communicate using
various modes of expression.
Stables (2012) challenged the belief that young children can use drawing as a means of
modelling and developing ideas which was strongly held in the late 1980’s, and it has been
suggested that this may represent an inappropriate paradigm of secondary technology being
transferred to the primary sector.
Bensur et al. (2012) found age differences in the developmental complexity of children’s
drawings. These differences were related to their recognition and memory of various objects
found in their environment. Although it was implied that a more developed working memory
was responsible for more complex drawings. It is also evident that increased spatial ability also
influences complexity. The study concluded that increased drawing complexity reveals advanced
working memory and spatial abilities.
Nagata (2014) in his study suggested that the problem reported by students of not being able to
draw may be the lack of proper seeing and perception of the object.
To Welch et al. (2015) Sketching is a method by which children explore a problem, and
discussion between children plays a major role in clarifying problems.
27
CHAPTER 3
RESEARCH OBJECTIVES
METHODOLOGY
28
RESEARCH OBJECTIVE
29
RESEARCH METHODOLOGY
Research methodology is the way in which research problem are solved systematically. It is a
science of studying how research is conduct technically.
The term research is also used to describe an entire collection of information about a particular
subject. Research is defined as human activity based on intellectual application in the
investigation of manner.
Business research can be defined as a systematic and objective process of gathering, recording
and analysing data that provides information to guide business decision. Any honest attempt to
study a problem systematically or to add to knowledge of a problem may be regarded as
research. (Theodor son and Theodor son 1965 cited in Rebar 1995).
Secondary data is a type of data that has already been published in books, newspapers,
magazines, journals, online portals etc. There is an abundance of data available in these sources
about your research area in business studies, regardless of the nature of the research area.
Therefore, application of appropriate set of criteria to select secondary data to be used in the
study plays an important role in terms of increasing the levels of research validity and reliability.
These criteria include, but not limited to date of publication, credential of the author, reliability
of the source, quality of discussions, depth of analyses, extent of contribution of the text to the
development of the research area etc. Secondary data collection is discussed in greater depth in
Literature Review chapter.
30
Type of Research:
• Websites
• Annual Reports
• Research reports.
31
CHAPTER -4
DATA PRESENTATION
AND
INTERPRETATION
32
DATA PRESENTATION AND INTERPRETATION
Phoebe's Photo Studio will become profitable in its fifth month of operation, by May 2016. It
will grow vigorously each year after that to its optimum level during 2008. This optimum level
will produce sales sufficient for a generous net profit, even with the owner's and employee's
salaries.
The business will be funded with an investment by the owner and loan secured by real estate.
Start-up Funding
The start-up requirements for Phoebe's Photo Studio including start-up expenses, current assets,
cash on hand, and long-term assets were presented earlier in this plan. Start-up funding is
presented in the table below.
The owner, Phoebe Peters will provide a seed investment. A loan for the balance will be secured
by real estate.
START-UP FUNDING
33
Investor $0
Additional Investment Requirement $0
TOTAL PLANNED INVESTMENT $10,000
Loss at Start-up (Start-up Expenses) ($28,730)
TOTAL CAPITAL ($18,730)
TOTAL CAPITAL AND LIABILITIES $81,270
Total Funding $110,000
Need real financials
We recommend using LivePlan as the easiest way to create automatic financials for your own
business plan.
Important Assumptions
We assume a stable economy with reasonable growth and a steady rise in interest rates. We also
assume that our competitors won't adopt our strategy within the first two years. After that, our
approach is likely to make a change in what our competitors charge for digital files, because
they'll see it's effective in bringing in repeat business as well as new business.
Break-even Analysis
The average monthly expenses are shown in the table below. With low average direct unit costs,
we will need to make the monthly sales displayed to break even. We expect to pass the break-
even point in May.
BREAK-EVEN ANALYSIS
Monthly Units Break-even 26
Monthly Revenue Break-even $7,812
Assumptions:
Average Per-Unit Revenue $298.87
Average Per-Unit Variable Cost $48.03
Estimated Monthly Fixed Cost $6,557
Key Financial Indicators
The benchmarks chart, below, shows a quick comparison of Sales, Gross Margin %, and
Operating Expenses over the next three years. Although Operating Expenses will rise slightly in
future years, they are not rising proportionally with sales growth. The higher operating cost ratio
34
in the first reflects the higher costs of advertising to establish visibility at the start of the
business.
35
PRO FORMA PROFIT AND LOSS
YEAR 1 YEAR 2 YEAR 3
Sales $131,800 $188,600 $267,200
Direct Cost of Sales $21,180 $27,360 $35,720
Other Costs of Sales $0 $0 $0
TOTAL COST OF SALES $21,180 $27,360 $35,720
Gross Margin $110,620 $161,240 $231,480
Gross Margin % 83.93% 85.49% 86.63%
Expenses
Payroll $42,000 $44,000 $50,000
Marketing/Promotion $7,100 $4,800 $4,800
Depreciation $15,960 $15,960 $15,960
Rent $9,600 $10,000 $10,400
Utilities $1,200 $1,200 $1,200
Maintenance of Cameras and Equipment $600 $800 $1,000
Offsite file backups and support $720 $1,000 $1,000
Software upgrades $0 $500 $800
Insurance $300 $300 $300
Payroll Taxes $0 $0 $0
Other $1,200 $1,200 $1,200
Total Operating Expenses $78,680 $79,760 $86,660
Profit Before Interest and Taxes $31,940 $81,480 $144,820
EBITDA $47,900 $97,440 $160,780
Interest Expense $9,376 $8,223 $6,923
Taxes Incurred $6,769 $21,977 $41,369
Net Profit $15,795 $51,280 $96,528
Net Profit/Sales 11.98% 27.19% 36.13%
Projected Cash Flow
Cash reserves reach the minimum point in March 2017. From that point, cash flow is positive,
reaching a robust level by the end of 2018.
As sales increase, we will supplement our prop and furniture inventory with the purchase of new
items as current assets.
36
Cash Received
Cash from Operations
Cash Sales $131,800 $188,600 $267,200
SUBTOTAL CASH FROM OPERATIONS $131,800 $188,600 $267,200
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
SUBTOTAL CASH RECEIVED $131,800 $188,600 $267,200
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $42,000 $44,000 $50,000
Bill Payments $52,845 $76,202 $102,464
SUBTOTAL SPENT ON OPERATIONS $94,845 $120,202 $152,464
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $11,520 $12,500 $13,500
Purchase Other Current Assets $0 $0 $2,000
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
SUBTOTAL CASH SPENT $106,365 $132,702 $167,964
Net Cash Flow $25,435 $55,898 $99,236
Cash Balance $36,205 $92,103 $191,339
Projected Balance Sheet
Net worth becomes positive in the second year. It then steadily builds through the end of this
plan, in 2008. There is an excellent return on equity by the third year.
Business Ratios
Phoebe's Photo Studios is part of the photographic portrait studio industry (SIC Code
7221). Industry standard growth is currently 7.3% annually. Phoebe's Photo Studio is projected
to grow weed-like annually by seizing its target market early and building on it.
Long-term assets are a smaller percentage of this business because expensive printing equipment
isn't required. High resolution printing will be outsourced and is included under Cost of Goods
Sold.
RATIO ANALYSIS
38
PROFILE
Sales Growth n.a. 43.10% 41.68% 7.32%
Percent of Total Assets
Other Current Assets 11.02% 7.65% 5.56% 51.55%
Total Current Assets 50.92% 78.13% 94.16% 71.67%
Long-term Assets 49.08% 21.87% 5.84% 28.33%
TOTAL ASSETS 100.00 100.00% 100.00 100.00%
% %
Current Liabilities 5.73% 4.87% 3.99% 24.01%
Long-term Liabilities 97.50% 58.14% 28.93% 21.85%
Total Liabilities 103.23% 63.01% 32.92% 45.86%
NET WORTH -3.23% 36.99% 67.08% 54.14%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 83.93% 85.49% 86.63% 100.00%
Selling, General & Administrative Expenses 71.95% 58.30% 50.51% 76.37%
Advertising Expenses 0.00% 0.00% 0.00% 1.11%
Profit Before Interest and Taxes 24.23% 43.20% 54.20% 5.49%
Main Ratios
Current 8.89 16.06 23.63 1.89
Quick 8.89 16.06 23.63 1.37
Total Debt to Total Assets 103.23% 63.01% 32.92% 53.64%
Pre-tax Return on Net Worth - 151.53% 95.19% 11.50%
768.74%
Pre-tax Return on Assets 24.87% 56.06% 63.85% 24.81%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 11.98% 27.19% 36.13% n.a
Return on Equity 0.00% 106.07% 66.63% n.a
Activity Ratios
Accounts Payable Turnover 11.16 12.17 12.17 n.a
Payment Days 27 27 26 n.a
Total Asset Turnover 1.45 1.44 1.24 n.a
Debt Ratios
Debt to Net Worth 0.00 1.70 0.49 n.a
Current Liab. to Liab. 0.06 0.08 0.12 n.a
Liquidity Ratios
Net Working Capital $41,005 $95,745 $194,73 n.a
39
3
Interest Coverage 3.41 9.91 20.92 n.a
Additional Ratios
Assets to Sales 0.69 0.69 0.81 n.a
Current Debt/Total Assets 6% 5% 4% n.a
Acid Test 8.89 16.06 23.63 n.a
Sales/Net Worth 0.00 3.90 1.84 n.a
Dividend Payout 0.00 0.00 0.00 n.a
40
CHAPTER 5
RESEARCH FINDINGS
41
RESEARCH FINDINGS
Realistically, I don’t need all this space (a 1,500 square foot of shooting space would be
more than adequate for my commercial work) but investing in this larger space allowed
for the growth of our photography training business and expansion into video work. It has
also meant we have been able to hold live talk shows and workshops as well as film more
content for our website.
In addition I’ve been able to rent the studio out for others to use or for shoots, events and
film production which has generated an extra source of income. Together, these have
made the additional space an asset, rather than just a luxury.
I found my current studio while it was still in the construction phase, which meant I had
the opportunity to make my own requests and changes. That’s another plus to owning
your own studio — you can change it as you like. One of the features we’ve installed in
ours in an infinity cove (or cyclorama), which many of our members will be familiar with
having watched our courses.
42
RECOMMENDATION/RESEARCH SCOPE /LIMITATIONS/
CONCLUSION
43
RECOMMENDATION
We got married in January, 2018. Living overseas in New Zealand and trying to co-ordinate a
wedding in Mumbai is a very stressful affair. True shades photography are true professionls and
deliver what is promised. They went over and beyond to meet our needs. The crew members are
extremely friendly and made us feel super relaxed on the day. The photos and videos are of a
high quality and a reflection of excellent workmanship. Keith and I highly recommend choosing
Arshid and his amazing team for your special day!!
The True shades team is a group of extremely sweet and co-operative people, they looked into
our needs and preferences with a lot of care and concern, Arshid personally took a keen interest
in the filming of our pre-wedding movie and the wedding movie, they understood exactly what
we needed and gave an amazing compilation of memories we love going through all the time.
Not to forget they are also extremely punctual and very prompt with the deadlines given.
I had a few shots in mind which I wanted for my wedding but in the rush didnt really have the
time to convey but to my surprise the photos have come just the way I wanted them to be!!
Very happy with their.
44
RESEARCH SCOPE
Press Photographers or Photo Journalists provide the press with pictures that are relevant
to the daily news and events. This kind of photography is best done instinctively. Hence,
you need to be spontaneous and know what kind of a picture would best illustrate your
article. If you are adventurous and willing to work under difficult conditions when
needed, then this field is probably for you.
Fashion Photography is the field where one works for fashion houses, designers or
individual models. To be a part of this glamorous world, you must have knowledge about
latest fashion trends and you should be willing to be experimental and creative. Portrait
Photographers are people-oriented photographers who click snaps of individuals. The
subjects range from children to pets, functions to social events etc. You can also
specialize as wedding photographers.
Feature Photographers narrate an entire story through the medium of photographs. Hence
to be a feature photographer, you have to have extensive knowledge of the subject that
you are dealing with and you should be willing to work at any given time and place.
45
LIMITATION
1. Always try to use natural lighting. If there is no enough natural light inside the room, find
2. Use only flash when it is absolutely necessary. Use filters to soften its effects on your
subject. Make the flash bounce off the wall or direct it to the ceiling.
3. If there are other light sources in the area, use them. Choose the ones that are like-
colored.
46
CONCLUSION
Photography is more than a documentation process it is more, it is an art form and should be
treated with the same respect as painting, sculpture, and the other well known art forms.
Photography deserves respect, its presence and influence in the art world in equivalent to the
other forms of art.
If someone were to choose what the most important thing in photography they would say light
exposure. It's a given idea, if you don't have good lighting in your photo then it isn't a quality
photo. Light can give that dreamlike, golden look, and if you get the sun and focus the right way
you can get the bokeh effect, which plenty of photographers enjoy. My primary resource was an
email written to a family friend named Beth Hutter, who is a professional photographer, she has
her own website and studio. (bb-photography.com). I chose the question of 'What are the main
points to become a good photographer?' because I want to take on photography as a hobby of my
own and with that, hopefully manage a successful YouTube account. I learned that some of the
most important things to become a good photographer is know your camera, focus on the light
exposure, practice, and learn more from other photographers. In conclusion, photography has a
lot of main points, but it's the little things that count the most. Photography is researched plenty
and a lot of people would like tot all on the photography career, as a main job or even a little
hobby. A getaway.
47
BIBLIOGRAPHY
48
BIBLIOGRAPHY
Wendl, Tobias. "Visions of modernity in Ghana: Mami Wata shrines, photo studios and
horror films." Visual Anthropology 14.3 (2001): 269-292.
Bota, Josip, Diana Milčić, and Davor Donevski. "Quality of photographic reproduction
and comparison of digital photo studios." International conference of printing, design and
graphic communications Blaž Baromić (11; 2007). 2007.
Lee, KyungUhn. "Photo Studios toward the Digital Photographic Era: The Cases of
Three Photographers in Kansai Area, Japan." 文芸学研究 20 (2016): 120-121.
Khan, Farhat Basir, and Amit Chawla. "INDIAN PHOTO STUDIOS: A STUDY OF
COMMERCIAL ACTIVITIES." International Journal of Management Research and
Reviews 4.12 (2014): 1145.
49
PROJECT GUIDE COMMENTS
-------------------------------------------
50