Families need photographs to capture the special moments of their lives. Families of professionals are busy, and if too much time goes by between photos, these moments are lost forever. Babies, especially, grow fast and parents need photos of them several times a year.
While nearly everyone has a camera for snapshots, people need professional quality photos when they will be shown to an important audience, and when people want to be seen in the best light. The Internet has expanded the use of photos, making it possible for anyone to send them or to publish them for wide viewing.
Professionals often have business needs for high-quality photos, and through this familiarity, they acquire a taste for them. When these professionals need photos to preserve memories, or to display family photos when they entertain at home, they have the budget and the desire for similarly high-quality photos. Just as they appoint their homes with fine furniture and decorations, the photos on their walls need to exhibit their standards of quality.
Most people use professional photo studios only on rare occasions, such as weddings, yearbook pictures, or baby portraits. Because the client has to initiate the call, many special moments are lost and the studio loses potential business. Photo studios generally charge a large fee for CDs of their clients' digital images. For these reasons, most photo studios are rarely used by families as a whole.
This photography business plan shows how Phoebe's Photo Studio will meet the needs of professionals and their families to capture the special moments in their lives and present them in the best light. We will establish a relationship in which we initiate the calls to keep their photos up to date. Digital files of their photos will be available for free by e-mail, or with a nominal fee for CD. Because of our relationship with the families, when something big like a wedding comes, there's no place else they would go.
Phoebe's will grow at an annual rate of over 40 percent by targeting families of professionals with newborn babies for baby pictures and then developing a relationship with the client over the years for ongoing photographs. The funding requested in this plan is projected to result in a comfortable annual net profit by Year 3.
The opening of Phoebe's Photo Studio will mark a change in the way professional photography is delivered. Rather than being a rare place to visit, this photo studio will be a fun part of a family's lives, helping them capture special moments and share them in a digital world.
Phoebe's Photo Studio helps clients preserve memories and portray themselves in the best light. We thrive on repeat business by developing relationships with our clients and calling them with timely reminders for new photos. We make professional quality photographs easily available in a digital format. We do this by using a pricing structure that makes our digital photographs a household staple and by making it fun for them to come here or to have us in their homes.
In addition to livelihood, we’re in this business for the enjoyment of photography and having fun with people. We want to keep it simple.
Our objectives are:
To generate a comfortable net profit by the third year.
To develop systems of production for each product category that are easy to replicate with new clients to keep it simple and fun.
To have a client relationship system and call plan that will keep us on top of each of our client's scheduled needs at all times.
Keys to Success
Our keys for success are:
Target marketing for the gateway products of baby pictures, high school photos and wedding albums.
Developing relationships with our clients through personal customer service, to turn one-time customers into lifetime clients.
Our system of tracking clients' ongoing needs for photos and taking the initiative to call them for appointments.