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Transcript of Bumblebee Photography
- Taught herself photography
- Often present at many IASAS events and also events at the Polo Club
- Realized people would pay for her photos
- Initially, Alexis will be the only staff member due to the uncomplicated starting point of the business
- As it grows, she hopes to add one more photographer and one secretary to the company's staff
WHO WILL RUN THE COMPANY? WHO IS OUR MARKET? We have identified two target markets for this company, parents within the SAS community and the larger expatriate community. Parents because.... A majority of the SAS community is upper-middle class to high class, with at least one child involved in a school activity, whether it is Elementary gymnastics or IASAS Softball. While they probably have an expensive point and shoot camera, they still may not be getting the best pictures they could get at events - this is important because we provide those photos, and by doing this we provide the best memories possible. Expatriates because.... Again, most expatriates in Singapore are upper-middle to high class. While not all of them have children in schools doing activities, active adults still have many activities going on within club such as the American Club, British Club, Polo Club where we will also be advertising. Expatriates with children in international schools other than SAS would also have the same needs as SAS parents concerning their children's events. Our competitors are mainly school yearbook/journalism photographers as well as parent photographers. Even though they have more photographers, yearbook and journalism tend to cover just the event as opposed to the individuals. While parent photographers may know more parents in the community, most of them lack photographic knowledge and equipment. WHO ARE OUR COMPETITORS? Start up costs for this company are minimal; the photographer already has all of her own equipment. The only things to be paid for are paper, inks, CDs and envelopes, and these items are relatively inexpensive. There may be a small price to pay for transportation, but a fee may be charged to the client depending on the distance of the event from Alexis' home. HOW MUCH WILL IT COST TO START UP? There is a $55 booking fee for the photographer, as well as a choice of three packages. Package A is $40 dollars and includes 1 CD, 1 8x10 print, and 2 4x5 prints. Package B is $60 and also includes the same items, but also includes Photoshopping of selected photos. The Photoshopping includes names/titles of events in a decorative border around the photo. Package C, the most expensive package, is priced at $90. This package includes 1 CD, 2 8x10 prints, 4 4x5 prints and Photoshop. HOW MUCH ARE YOU CHARGING? Bumblebee Photograph plans to make itself known to the public through poster advertisements and a website. By putting our ads in places where parents often go within school (i.e. the High School Office, Booster Booth) we plan to let the SAS community know about us and hopefully from there, expand into the much larger expat community. We will also have a website where we will not only have our photos for advertisement, but for people to buy prints of.
HOW WILL YOU ADVERTISE? WHAT IS THE BREAK-EVEN? The average initial break-even that we calculated was approximately: 0.5447 These income statements are based off of the booking fee ($55), Package A ($40), 10% of revenue going to advertising, $75 per month for utilities, a 40% depreciation of the camera per year, and 20% depreciation of lenses per year. HOW DOES THE INCOME STATEMENT LOOK?