Photo plan Essay

This essay has a total of 3271 words and 24 pages.

photo plan

1.0: Executive Summary
2.0: Company Overview
Market Opportunity Explanation
Legal Form of the Business
Company Location
Growth and Financial Objectives
Manager Information
3.0: Market Analysis
Analysis of the Industry
Target Market/Customer Profile
4.0: Service Offering
Competitive Comparison
5.0: Marketing Plan
Customer creation and retention
6.0: Financial Plan and Analysis
7.0: Cost Assumptions

1.0 Executive Summary

Lifetime Memories Photography is a small business that provides photography services (with
a focus on weddings) to clients looking for high quality, fair price, and great service.

Lifetime Memories is organized as a sole proprietorship, with Mike ______ as the owner and
sole employee. He does all the photography for the events as well as taking reservations,
purchasing equipment, and doing the business? books.

Mike ______ will be contributing his own capital to the business for start-up costs, and
has secured financing from several other sources, but will still need $10,000 in start-up

This business will be run from Leicester MA..
To start, Lifetime Memories marketing plan will focus on advertising in local areas like
Worcester, Auburn, Shrewsbury and other surrounding towns. The advertising will emphasize
the company?s lower price, its quality, and its high value to people who need event
photography done, such as wedding planners and birthday party organizers.

There are several competitors in the local area that will be targeted, but these
competitors, being better established and having retail locations, will charge more than
Lifetime Memories plans on charging. There is an opportunity to enter the market and
succeed where these other competitors are lacking, this mainly being low price and a
guaranteed high quality, professional service.

Lifetime Memories vision is to provide the best photography services to people who want
their special events captured and recorded for the best price and with the best value.
Weddings, Birthdays, Anniversaries, Vacations, and Reunions will be our specialty. Anyone
with any photography service need will be able to utilize our services, however. For
example, baby showers, engagement, and special request photography will all be available.

Lifetime Memory?s Mission Statement follows:
?Lifetime Memories provides the best event photography service in central Massachusetts,
combining value, quality, and service in a package whose price is unbeatable?.

Lifetime Memories is requesting a 3-year, $10,000 loan for start-up costs that Mike ______
contribution is unable to cover. He has approximately $8,000 in collateral available to
secure the loan.

The requested funds will be used to purchase additional photographic equipment such as
cameras, lighting accessories, developing supplies, and also to help the company during
slow periods in its first year.

2.0 Company Overview
The company?s name will be ?Lifetime Memories Photography?, and operate out of the home of
Mike Bartkus, owner and manager. There will be no retail store for the business at first,
and most reservations will be taken over the phone and via e-mail.

Market opportunity
The opportunity for a small start-up event photography service in this area is a good one.
While there are several others in nearby towns, such as Casson-Foster Photos in Auburn and
Lasting Images in Oxford, Lifetime Memories would be able to offer lower prices because it
doesn?t have the operating expenses the other companies do. Although there?s no store
front, that means there will be no building to rent or lease and maintain. Also, we will
develop our own photos, thus saving time and money for developing; further reducing the
price we will charge.

There are several assumptions that we make to give insight as to why the business will be successful:
1. More established companies with more operational costs will charge more than us.
2. There is a desire by consumers to have available to them lower-cost event photographers.
3. Value and quality, not establishment or name recognition, is the main factor in
choosing an event photographer, thus making the low-cost image of this company a prime

Legal form of the business
The company will be organized as a sole proprietorship, with Mike ________ as the owner and manager of the company.
The company will operate out of Mike ________ home at:
459 ______ St.
_______ MA, 01524

This is a startup business. Mike _______ has, to date, invested $17,000 in the business from his own savings.
Growth and financial objectives
In the beginning, we will be a small company, located in Mike _________ home, with event
photography services only. After profits begin to be made, and expansion becomes possible,
it will move to a storefront in a more accessible location and add retail services such as
photo developing, camera sales, and an on-site portrait studio.

As the customer base increases, more staff may also be necessary to take reservations,
operate the store, and take pictures in my absence or in addition to him as another of the
business?s photographers.

Manager Information
Lifetime Memories manager, Mike ________, has a bachelor?s degree in Business from
Franklin Pierce College of Rindge NH and is currently taking classes at Quinsigammond
Community College towards a second degree in Photography. He?s been a photographer for 2,
and has worked for clients before, photographing weddings and taking baby pictures. His
experience, drive to provide quality service, and enthusiasm for his work make him an
excellent photographer, and his business knowledge allows him to turn his picture-taking
skill into a successful business.

3.0 Market Analysis
The market for Lifetime Memories Photography is always changing. Most of the time people
are only married once, and if they?re married twice, there?s often a large time period in
between weddings. Because of this, a population large enough to support many weddings a
year is important for an event photographer. The area we plan to cater to includes
Worcester, Shrewsbury, Auburn, Oxford, Spencer and other surrounding towns and cities.
There are enough people in these areas to support several event photographers already, and
so in that way the market can be shown to exist in a large enough state to be profitable.
Of course, the existence of these other companies in the market would make it less
accessible to this company if it didn?t have the competitive advantages it does.

Lifetime Memories price will allow it to gain customers that would otherwise go to
competitors. Both first time users of event photographers as well as repeat customers of
existing companies will be drawn to us by the use of lower costs with the same high

Analysis of the Industry
For centuries, people have been getting married. It is expected that people will continue
to get married for centuries more. People also want to remember their weddings and one of
the most popular ways to do this is to take photographs. Wedding photographers will
continue to be needed in the future, in larger numbers as different methods of
photographing come into existence.

Some trends in the industry include the move to digital film (both photographic and video)
but 35mm film is still the norm. We plan to move into digital photography as the business
develops, which will assist the development of our website and lower developing costs
through printing technologies.

We also plan to add video services at a later date so that weddings can be videotaped. A
whole new array of services would be available with video services.

Target Market/Customer Profile
Our target markets are those people seeking event photography services in the local area.
Because price will be an important factor in our advertising and image, we will be able to
target a wider range of customers than higher-priced companies would be able to. Though no
specific demographic will be targeted, we expect middle class customers to be most popular
overall. Parents, siblings, and friends of brides and grooms as well as they themselves
could all be responsible for contracting a wedding photographer.

Casson-Foster Photography in Auburn, Hilton Photography in Worcester and Lasting Images in
Oxford are some of the competition, offering wedding photography as well as other services
in some cases.

Although being already established and having name recognition is a great plus for these
companies, there is room for Lifetime Memories.

Without a studio, we won?t be able to initially offer all of the services its competitors
can, but because of the lack of these services, we will be able to offer very high quality
service for low prices. Once we are better established, other services may be added, but
at first, the lack of these services is looked at as a competitive advantage.

Service Offering
Lifetime Memories Photography provides weddings, reunions, birthday parties, and other
special events with a high quality, good price way to remember and cherish the memories
from the event forever; photographs. Lifetime Memories provides the customer a choice of
photographic packages, which offer different numbers and sizes of pictures, and the
customer can choose the package that best fits their needs. If no package is satisfactory,
a custom package might be developed, allowing the customer to get what they need.

Though wedding and event photography is not unique in itself, Lifetime Memories has a
uniqueness to it that sets it apart from its competition and that is price. The
competition has high quality and good service, but it cannot beat us on price. This will
be our main selling point after quality and value and will draw a large number of people.
Even the wealthiest people in the world would choose a lower-cost option if the quality
and service were the same.

Lifetime Memories offers photo-taking services for events and weddings. Wedding guests
don?t have to fumble with cameras because there?s a professional photographer. Brides and
Grooms don?t need to worry about the quality of their pictures because there?s a
professional photographer. The professional photographer photographs the wedding. On the
next page are the wedding packages offered by Lifetime Memories.

A ?Wedding Package I? includes the following:
Up to 5 Hours in two locations,
250 4x6? prints,
10 5x7? prints,
5 8x10? prints,
2 11x14? prints,
Plus an album, the option to have the pictures uploaded to our website for viewing ($6.99
extra). The negatives can be bought for an additional $95.99

Price: $500.00*
*Gas costs for transportation to the wedding site, as well as overnight accommodations (if
necessary) not included and will vary.

A ?Wedding Package II? includes the following:
Up to 8 hours in two locations,
325 4x6? prints,
15 5x7? prints,
10 8x10? prints,
5 11x14? prints
Plus 2 albums, the pictures uploaded onto our website (for free) for viewing and an
announcement photo. The negatives can be bought for an additional $129.99.

Price: $690.00*
*Gas costs for transportation to the wedding site, as well as overnight accommodations (if
necessary) not included and will vary.

A ?Wedding Package III? includes the following:
Unlimited time (up to two days, accommodations included in price) at up to 3 locations,
450 4x6? prints,
25 5x7? prints,
20 8x10? prints,
15 11x14? prints,
Plus 4 albums (arranged chronologically), the pictures uploaded onto our website (for
free) for viewing and download for 15 days, an announcement photo, the pictures
transferred to slides for slide show viewing, and the pictures will be mailed (if desired)
to the customer at no additional cost. Negatives can be bought for $199.99.

Price: $1025.00*
* Gas costs for transportation to the wedding site not included and will vary.
Custom Package:
Customer defined package to fit budgets and needs.
Marketing Plan
Creating and Maintaining Customers
Lifetime Memories main ally in creating customers will be the prices it charges. Because
it is a one-man operation, an operation running from home, and because one of its main
goals is to charge a fair price, we will offer our high quality services for far less than
the competition. When advertising, we will emphasize this value and price advantage, along
with quality, to attract customers who want the best pictures and deal available.

Once someone has used Lifetime Memories as their event photographer, the high quality of
service, professionalism, and consistently low prices will bring the customer back the
next time the need for an event photographer arises.

Besides creating customers through advertising, word of mouth once our services and price
become better known will create customers. Friends and family of customers will hear about
Lifetime Memories through existing customers and they will, when they need a high-quality,
fair-priced event photographer, look to us first.

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