BUSINESS STUDIES

Miss Kanza Iqbal

 BUSINESS PLAN PURPOSEL

STRENGTHS WEAKNESS

1. Professional 1. Less experienced staff.

- accountable, hard working, self-motivated 2 .Teamwork is weak.
2. Strengths 3 .shyness over directing people, especially
- Friendly, caring, attentive towards others, in big groups
maintain a positive attitude Easily stressed
3 .Creativity 4. having enough time to edit, set aside for
- Offer fun ideas to clients, themes, location shoots.
suggestions, etc. 5. school, work and other factors.
5. Cheap prices.

OPPORTUNITIES THREATS

1. Networking by getting involved with
other photographers, photography groups
etc.
2. Recommendations by customers
- Babies, engagements,families, weddings
3. Pictures taken of friends and family
acting as advertising, plugs.
4. There’s always people needing pictures
5. maintain a relationship with clients after
initial shoot, set up reward system for repeat
clients and referrals, send friendly messages
on important dates, etc.
1. not a steady inflow of clients, not making
the money you’re expecting to, becoming
discouraged
2. Not being able to stand out from other
photographers, especially those with a
larger clientele, more advertising
experience, more extroverted..ectingmited
profit levels.
4. Emergent Technologies
5. Rejection
Saturation

SWOT
 POLITICAL ECONOMIC SOCIAL

1.Services 1.Growth rate 1.Lifestyle trends

2.Tax policy 2.Labor costs 2.Demographic
3.Designation 3.inflation 3.Educated staff
4.Taxtion 4.Financial 4. Media news
5.Regulation 5.Investment 5.Brand company, technology
image

TECHNOLOGY LEGAL ENVIRONMENT

1.Global Communication 1.Rules and regulation 1.Friendly

2.Maturity of technology 2. Employment laws. 2.Staff grooming
3.Reserch and development 3.Industry regulation 3.Sources
4.Online service 4.Quality and Quantity 4.Publicaly
5.eEasy way 5.State S.O.P.S 5. Healthy and Hygienic

PESTLE
 How to Write a Marketing
Plan
IF YOU WANT YOUR PHOTOGRAPHY BUSINESS TO GROW,
YOU NEED A LONG-TERM MARKETING PLAN. HERE’S OUR
LONG LIST OF IDEAS FOR BUILDING AN UNFORGETTABLE
BRAND!

ELEMENTS OF A MARKETING PLAN

Executive Summary:

The executive summary serves as a business overview for your reader. Make it direct and succinct to
draw the reader further into the business plan. It should be enticing but not over emotional. You’ll
dive deeper into the fine detail later on, so use this space to talk big-picture about your photography
business, focusing on the things you want people to really know about.

MARKET ANALYSIS

The market analysis uncovers specific nuances of the local industry and
identifies trends vital to your success.

Things to include:
1.An overview of the market as a whole
2.A description of your photography specialism and where you fit into the
wider industry
Competitor analysis

Your business plan should detail what other professional photographers work looks like within the
market you want to serve. Look at both the geographical area you want to cover and the niche type of
photography you’ll offer, such as wedding photography, studio shoots, commercial or Press.
Professional photographers often travel widely for work.

Your business plan should evidence either:

1. Enough customers and work to allow you to break into the market despite an established
competitor already being there
2. How you’ll win customers from your competitors.

Photography services

Here’s where to expand the description of your service offering. What experience do you have in
certain niches and what impact do your location and facilities have on the services you can provide?
Determine the photography equipment you have and the items you need, whether rented or owned.

Marketing programmes.

Detail the ways you can develop your customer base and boost engagement with your brand. This
might include building out an email marketing, referral or loyalty programme. As an expert selling
their skills and knowledge, content marketing is an area you can make use of by starting a vlog, blog
or podcast. You might also invest funds into paid ads across social media or Google. Clearly define
who the audience is for each program, what your goal is, how you’ll measure the program’s success
and what assets or budgets you need to get started.

Financial plan
Within the financial plan, a great deal of focus should be placed on startup
costs. These costs represent everything you need to get your photography
business off the ground, such as legal advice, website design, photography
equipment and payment systems. You should project the total and timeline of
these costs as accurately as you can before exploring funding options. Such
options could include small business loans, grants and crowdfunding.
Organic social media
Since so much on social media is visual, it should be one of the marketing
channels you use. Build a social media strategy focusing on the platforms that
make the most sense for your business, that is those that your target audience
are using most.
Over time, you’ll need to build a strong following and create a network with
other local vendors who can help boost awareness of your business. If you’re a
wedding photographer for example, link up with local event planners, venues
and florists.

Creator Group

Income statement of a year

December ,31st 2021

Revenue ____________ 50,00,000

Less:

Cost of good sold________15,00,000

Gross profit 35,00,000

Salary expense 4,00,000

Utility bill 50,000

Maintained expense 20,000

Net profit 31,30,000

Less tax

@10% 31,300

Net profit after tax 30,98,700

Creator Group

Balance sheet of a year

December, 31st 2021

Current assets

• Cash 40,00,000

• Account receivable 0

• Shares 0

• Stock 5,00000
Fixed assets

• Rent 10,000

• Furniture 50,000

• DSLR. 2, 00000

• Building expense 6,00000

Total. 860,000

Liabilities

• Loan payments 50,000

• Interest payable 50,000

• Insurance payable 5, 00, 000

• Tax payable 1,00,000

Capital

• Owner investment 1,00,000

• Owner equity. 5,00,000

Total 600,000