business plan

TABLE OF CONTENTS:

Title Name Page Number

1.The Business idea 3-4

2.Personal information 4

3.Project identity 5

4.Investment Size 6

5.Product categories 7-9

6.Raw materials 9-12

7.Market & Sale strategy 13-15

8.Financial identity 15

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1. The business idea

Our Business ideaOur business idea is photography business. Our photography business institution name is “Dream Photography”. Now, we discus in below about Dream Photography.

Executive SummaryWelcome to the Dream Photography! We start Business at Dhaka and all over the Bangladesh. Occasions, the photography Specialists, brings to the community of Portland a new breath of air in the event photography market. By combining old fashioned values, going the extra mile, and using cutting edge event-planning software, Occasions will lead the market, providing the same quality results, every time.We try to understand your gravity and take photos from the perfect angels to have your best features on them. Then we take our clients opinion on what type of editing they prefer and what type of colors they want. For single portraits we will suggest you themes and help you to have a conceptual photo-shoot like the high fashioned models or you may go for a highly artistic view which will highlight your own persona. Clients will view The Dream Photography as honest, hard working, competent, reliable, and consistent. The Dream Photography philosophy will be to exceed client expectations and to develop long-term mutually beneficial relationships. The Dream Photography will employ a client satisfaction total quality philosophy. Based on its client satisfaction philosophy, clients will be The Dream Photography most powerful marketing tool and they will highly recommend The Dream Photography to others.

At The Dream Photography our team members will be satisfied. The Dream Photography will value its team member’s opinion, treat them with respect, be fair, and honest. The Dream Photography will offer the highest-level compensation and benefits possible. The Dream Photography understands that team members are their most valuable resource. The Dream Photography will be diligent in its efforts to see that team members will be highly trained and will have the necessary tools & skills to consistently achieve corporate goals.

We offered:

1. Photography service with various packages 2. Cinematography service with various packages 3. Combo packages Photography + cinematography 4. Give Rent photography equipment 5. Give rent our studio to others6. Make personal indoor outdoor portfolio

The keys to success for the business include:

Establishing The Dream Photography as flexible to the needs of small and medium-sized businesses

Offering a range of additional services, such as printing, photo editing, framing, and production of photos in a variety of digital formats

Making businesses feel at home in our studio and a part of the creative process

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Mission & Vision

The Dream Photography mission statement is‘’ capturing the moment that captivate your heart’’.

Our mission statement focused on client’s satisfaction. We told that we capture that type of snaps that will be captivating to our clients mind. Quality service is our motto. We insure the quality of every image. Our mission statement reflects the company’s overview. Dream Photography’s vision is to be the leading professional source of outdoor recreation imagery in the Bangladesh.

Business ObjectiveThe Dream Photography starts their business in mid of 2015. Now its total capital is more than 18 lakh. The Partner invests about 15 lakh taka to startup the business as startup expenses and startup assets. Marketing cost, transportation, liquidity fund and equipment purchasing and many more things are included as startup journey.

2. Personal information

Entrepreneur BackgroundWe are six friends. We always try to do some business. But we con not find any business idea. Because we always try to think about innovative business idea. After few days we determine that we can start a photography business. Because that is an innovative idea and it’s also our hobby. Another think it’s a profitable business & lower risk.

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3. Project identityProject locationThe location is an important stage of a business plane, without a good location no one can expect the perfect achievement that he want. So in this stage we are very concern out our location. As we know the address of our company is Sector#10,Road no #10, House no # 25, Uttara, Dhaka 1216. This place is suitable link to other side in the city and security is good enough. We rent 1700 Square feet free space. In 2nd floor. The Dream PhotographyFor Premium Photography and Cinematography Sector#10,Road no #10, House no # 25, Uttara, Dhaka 1216Bangladesh.Call – 01921143724Lease/rental ratesWe took the place as rent. And the rent rate is 3% of our monthly income as we expect.Office Layout :

Legal informationThe launch of the business will be financed by the founder's investment and credit and by investments from partners. In exchange for 20 Lakh’s taka investment in the business at startup, partners will receive 49% ownership shares.

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Studio

1

Reception & Waiting room

Entrance

CEO Manager Marketing Dept. Sales Dept.

Photography and Cinematography department

Editing Panel

Studio 2 Refresh Zone

4. Investment Size

Project investment costFunding for the business is in part from personal loans, credit cards, and cash investment by the owner, Dream Photography. The remainder of funding will be from one to partners in the form of equity investment.START-UP REQUIREMENTSStart-up Expenses to Fund 3,750,00/=

Start-up Assets to Fund 16,250,00/=

TOTAL FUNDING REQUIRED 20,000,00/=

Assets

Cameras & Lens 12,000,00/=

Tripod , lights , others equipments , computers , software etc

2,250,00/=

Furniture 2,000,00/=

Total Assets 16,250,00/=

Start-up Expenses

Office Rent for 2 years 1,000,00/=

Marketing ( Ads , Promotional Activities etc) 50,000/=

Studio Build-Out 1,000,00/=

Office Decoration 1,000,00/=

Stationery etc. 25,000/=

Total Expenses 3,750,00/=

Source of fundThe launch of the business will be financed by the founder's investment and credit and by investments from partners. In exchange for 20 Lakh’s taka investment in the business at startup, partners will receive 49% ownership shares. The initial funding requirements are modest for the business.The growth of the business, beyond the first year, will be financed by the free cash flows generated by the business. This will allow for the expansion of staff to include additional photographers, the ramping up of marketing expenditures, and the resulting increase in sales.Only one photographer will be added per year in order to make sure that there is time for adequate training of new staff.

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5. Porduct Categories

Service and productsDream Photography will offer 3 types of photography services, product photos, documentary photos and, event photos. In addition to this we will offer post production services such as online galleries and post production editing. Dream Photography strives to deliver unique and professional photographs to small and medium sized firms that will serve client needs, offering excellent service and Flexibility. The personality and flexibility of a small firm combined with the quality and Competence from a bigger firm specializing in corporate photography. Dream Photography will provide photography services in these areas:

Studio commercial photography On-site commercial photography Set dressing services for photo shoots Wedding Photography and Cinematography Photo editing and digital editing work Delivery of prints or digital files of photo shoots Framing of photos Web portal to access digital files from shoots and manage editing process with clients Rental of the studio space to subcontractors when time allows

Example of similar business/competitor analysisLooking at the close geographical area there are quite many of companies that can beConsidered as competition. A quick search for registered photography companies showus around 100 only in the Dhaka.1. PatshalaPatshala is not only a renowned photography institute in Bangladesh but is pretty popular in the whole of South Asia. Patshala was formed in 1988 and has since been very popular for its excellent training program for upcoming photographers. Patshala is based in Dhaka.Tel: 9129847; 91368952. Alliance Francaise de DhakaAlliance Francaise de Dhaka is also a photography institute while its main purpose is to promote French culture and language among the local cultural enthusiasts.Mobile:88019120441923. Beg Art Institute of PhotographyThe Beg Art institute of photography is one of the most prominent Bangladeshi photography institutes. It has been named after the internationally renowned Bangladeshi photographer Manzoor Alam Beg.Tel: 0171 66637574. PrismPrism is another good institute to learn Bangladeshi photography.Tel: 9336784, 0181 94091395. Image GalleryImage Gallery Bangladesh was formed in 2000 and has been teaching Bangladeshis about photography in the city of Dhaka. It is a very famous institute and has a lot of professional photographers in its teaching staff.Tel: 71607406. Bangladesh Photography InstituteBangladesh photography institute is also one of the best Bangladeshi photography institutes and has a good reputation among the masses. Tel: 8611284

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7. Dhaka University Photography InstituteThe University of Dhaka also has a photography society which offers training programs for students who want to study photography.Tel: 0171 1588142; 0181 70482818. National Mass communications InstituteNational Mass communications institute also offers photography training institutes for students.Tel: 9007410-49. Chanchal Mahmud School of PhotographyChanchal Mahmud school of photography has been formed by Chanchal Mahmud who is a renowned Bangladeshi photographer.Tel: 9660651, 0171 1522126

Production process:

Production Budget

Production process lossProduction losses can impact small and large companies, and they usually result from unexpected problems that arise during what should be a routine manufacturing process. Time

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Photographers take photos in event Than Photographer in stored in

editing panel computer

Editor Retouched and Process the final Image and preserve for printing lab computer

Pictures print in lab than packaging expert’s package then and delivered the pictures in home delivery department

Delivery team delivered the hard and soft copy to the client’s destination

is added to the process, or the number of items produced falls short of goals, because of issues tied to machinery malfunctions, supply shortages, human error, weather and other issues that companies have varying abilities to control. However, measures can be taken to minimize losses, along with their financial impact, through proper planning.In the first year we have no profit. Because that time we are not a popular photographer company. That’s why we can’t earn profit. There are some reasons for the production loss in our business.

Shortage of professional photographer. Shortage of capital. Large number of competitor. Location problem. Etc.

6.Raw materials

Type of raw materials

The CameraThe core of photography is a camera, or at least the sensor of a camera. At the moment, one of the biggest debates in the photography world is between two different types of cameras: mirror less and DSLR cameras. Both have their merits, but a beginning photographer on a tight budget should be looking more closely at DSLRs. With entry-level models, new mirror less cameras cost about the same as new DSLRs, and sometimes less. However, you can still buy older, high-quality DSLR equipment (including lenses) for a lower price than similar mirror less gear. Mirror less cameras are filling this gap quickly, but the best camera for a beginner on a budget is almost certainly a DSLR.

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LensesHere as a camera sensor will record the light that it receives, a lens’s job is arguably even more important: help the light get to the sensor in the first place. Lenses range from the “free” those which come in a kit with the camera to the unbelievably expensive. As a beginner, it can be tough to determine which lenses are worth their asking price, especially if you have no prior knowledge of which lenses even exist in the first place

The TripodOften overlooked and undervalued, a tripod doesn’t seem nearly as important as it really is. After all, three aluminum sticks glued together are no more complex than three sticks glued together. Right? Unfortunately, that logic is why many photographers choose to buy the least expensive tripod they can find, and then leave it at home all the time because it’s cheaply-made and hard to use. A tripod should be as popular as its buddies Camera and Lens, but somewhere along the way it got the short end of the stick.

SoftwareThere is a lot of competition for software that processes images, with the two most popular options being Capture One Pro and Adobe Light room. These two programs are similar they both allow you to organize and edit your photos but Light room is far less expensive. Some argue that Capture One Pro is better, but Light room will is ideal for those on a budget, since it costs half the price. For what it’s worth, I only ever use Light room, and I find it to be wonderful.

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MonitorsIf you are a just starting photography, your current monitor probably is not good enough for serious editing work. Specifically, the colors on your screen will almost certainly be wrong you will not be editing anything how you think you are.

LightingDisclaimer: We don’t use much external lighting for my photos, mainly because we do not take many images of people. That said, most photographers will need a flash at some time or another, whether for portraits or for creative still-life photography.

FiltersFilters are another essential element of a photographer’s toolbox. With digital cameras, only a few filters are even necessary in the first place but some filters cannot be replicated in post-processing. The single most useful filter for digital photography is a polarizer. Just like polarized sunglasses, these filters cut glare from shiny surfaces (other than metal), they darken skies, and they reduce haze. Plus, they make images look more vibrant and saturated.

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Source of raw materialsWe collect our raw materials from different camera showroom. Some time we collect raw materials from other side. such as electric parts showroom.

Unit PriceWe set the packages realize the customers demand. And we insure that our prices are lower than the any others and our service is higher than all others. The details price and packages list is given in appendices section.

Package Name Photographers Number of Prints

Digital Album / Photo Book

Number of Photos

Special Edited Photos

Hours Package Price

Essential 1 Sr Photographer

100 Copies 4R & 1 copy 12L

No Unlimited 100 5 hours

10,000

Economy (Recommended) 1 Top Photographer


No Unlimited 100 5 hours

15,000

Smart 2 Senior Photographer


No Unlimited 100 5 hours 20,000

Standard (Recommended) 2 Top Photographer


Photo Book (6”x6”)

Unlimited 100 5 hours 30,000

Premium (Recommended) 2 Top & 3 Sr Photographer



Unlimited 100 5 hours 60,000

Platinum (Recommended) 2 Top & 3 Sr Photographer



Unlimited 100 10 hours 1,00,000

Budget of raw materials

Cameras & Lens 12,000,00/=

Tripod , lights , others equipments , computers , software etc

2,250,00/=

Furniture 2,000,00/=

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7. Market and Sales Strategy

Marketing, selling & distribution system

In past we said that our have a talented dedicated management team. They are able to handle every single situation in care. Our Companies CEO will Elected by voting by managers. CEO must be selected from Inner source of Organization. General Manager does all administrative task and Accounts and others section will under take care of General Manager. Marketing Manager is responsible all marketing Term and rule. Advertise product promotion and other marketing element will under marketing department. Sales Department works will market department and increasing sells and distribution team is works under sales managers. Marketing & sales Managers are from two senior Photographers of Dream Photography. Because it’s a photography service and equipment business that’s why a photographer know how business will grow. Although Dream Photography will believe in team work. If any executive work needed than CEO will give any of partners a executive responsibity. The marketing strategy for The Dream Photography Commercial Photography is based on the belief that using a few marketing tactics extremely well is preferable to using many marketing tactics with moderate success with each. The following are components of the initial marketing campaign:Email Marketing: Emailing a new business announcement and then monthly newsletters with details on new packages, the development of the studio, and new hires to past clients and other targets in the business community. Newsletters will include helpful tips on how to use photography and this will be used to gain permission from marketing departments at prospective client businesses to be sent the newsletters. Within these emails will be calls to action to encourage business referrals. Business Networking: The Dream Photography will promote the business through the local chapter of PAB (photography association of Bangladesh) , the Chamber of Photographers , and the Dhaka Photography Business Owner's Association. Through these meetings, The Dream Photography will introduce his company's work to other business owners, share leads on business, and receive both exposure and qualified referrals. To encourage members of networking groups to use The Dream Photography’s services so that they are educated referrers, Flash will offer a 25% discount on services to members of the networking group on their first purchase. Web Marketing: The Dream Photography will purchase facebook likes and promote their fan page for the Bangladeshi market and gear its advertisements towards the needs of small and medium-sized businesses. Furthermore, The Dream Photography’s website will be optimized for higher search engine ranking under these keywords.

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CEO Owners

General Manager MKT. Manager Sales Managers -Photographers -Cinematographers Graphics Designer

Editors Panel

Accountant

Administration Staffs

Supporting Staffs Supporting Staffs

Local Marketing: we will publish our promotional advertisement in local daily and news channel. We take various types of promotional activities in various types of festival like Eid, 1 st falgun , valentine day , 1st boishak etc.

Advertising:

We are very active in facebooking ads and marketing We published our ads at local magazine We take some promotional activities and free photo shoot in festival We take review form others We telecast scroll ads in local television channels

Market Competitor Analysis

Bridal momentDream weverWedding DairyDream merchantOthers

As we see we gave some name of our competitor as the are now in the market and also have a good reputation. So if we want to achieve our goal we have to compete with them.StrengthsAs we believe that our strengths is our hard work our commitment. We work for our passion we don’t want to make our customers disappoint. Because they are so much important for us.

Weakness:The weakness of Dream Photography is not present yet. We will do our task in various types of situation and we will overcome every single situation caring.Target customer / SegmentationSmall and medium sized businessesThe small businesses are usually run and operated by their owners. Their needs in Photography include basic marketing applications such as signs, menus, pamphlets, Brochures, websites and other simpler things. In the beginning they usually tend to produce this by themselves but as they grow they realize that this provides sub-standard results. This opens up for the possibility to attract them as customers for commercial photography needs. As new ventures grew they develop an ongoing need to regular photography services. Thus they value the relationship of a photography firm that are in tune with their needs and understands their way of working and can assist efficiently in their creation ofmarketing materials. They are quite pricing sensitive, but also put a value on the relationship they already have established.

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Large corporationsThese businesses have high photography needs and pay greater attention to the quality of the images that are produced. As a small venture these are mainly interesting the area of event photography as they are large enough that they are able to organize and benefit from creating social events and make good use of that area of social media marketing.

8. Financial Performance

Project financial forecast for 5 yearsThe profitability of the company will increase in absolute terms with growth. However, the gross margins and net profit margins will not increase dramatically over time as the additional growth in revenues requires additional direct labor. To maintain the reputation of the company, this labor cannot be performed by less skilled, lower-wage photographers.As revenues grow and additional photographers are hired, the CEO will focus a greater percentage of time on sales and prospecting. This will allow for steady growth in revenues while the brand of The Dream Photography becomes established in the market. A larger studio space with multiple rooms can be leased after a critical mass of utilization has been achieved with the current space. This will allow for continued growth.At last we can say that after 5 years Dream Photography establish a large photography institution in Bangladesh.Breakeven pointThe breakeven point is the production level where total revenues equal are total expenses. In other words, the break-even point is where a company produces the same amount of revenues as expenses either during a manufacturing process or an accounting period.So, our breakeven point is when we earn revenues is 375000tk. Because our startup expenses is 375000tk.

Payback periodThe payback period is the length of time required to recover the cost of an investment. The payback period of a given investment or project is an important determinant of whether to undertake the position or project, as longer payback periods are typically not desirable for investment positions. The payback period ignores the time value of money, unlike other methods of capital budgeting, such as net present value, internal rate of return or discounted cash flow. Our payback period is mid of 2016.That time we recover the cost of an investment.

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