Business Plan

[casey_lewiston]

Hi,

My production team (...me) is working on creating a business plan for a local

competition. It's a bit difficult, and I was hoping the experience here could

help with a few things.

 

Industry analysis has been difficult. Can any data be given on the state of the

photography services market, and what opportunities are generally available?

 

What target markets are most rewarding in wedding photography? Event? Portrait?

 

What marketing forms have been successful for this demographic?

 

What numbers are reasonable for wedding and even calls? Portraits? Other?

 

What sort of income numbers are reasonable for a photography services business?

This includes monthly, seasonal and annual numbers.

 

There's probably more; if it goes in a business plan, we need help with it.

Thanks in advance for any assistance.

[William Michael]

A (real) business plan made with regard to a market and market (place).

 

You must define both of these before proceeding.

 

The data you then need is gained, directly and indirectly from the businesses and potential customers in those two groups. My point is: annual remuneration figures and rewarding target markets from a WWW forum seem to be of little use for a real business plan, IMO; you need to target your precinct specifically.

 

However, you mention this BP is for a competition, perhaps much like what my daughter was required to submit to complete her Business Studies Degree.

 

In this case here are some answers for the BP competition from my precinct:

 

***

 

> Can any data be given on the state of the photography services market, and what opportunities are generally available?

 

Very competitive at the low and middle priced market, less so at the expensive end.

 

> What target markets are most rewarding in wedding photography? Event? Portrait?

 

Three answers the same: the clients with the most disposable income for photography, Family oriented; European background, mostly.

 

> What marketing forms have been successful for this demographic?

 

Word of mouth / reputation.

 

> What numbers are reasonable for wedding and even calls? Portraits? Other?

 

Each of our photographers (four) does maximum ONE wedding per weekend (Friday to Sunday inclusive) and some do other photographic work though the week.

75% of weekends over the year we have all four working: total Weddings about 150 per year, plus a few week day Wedding shoots. Portraits have slowed over the past few years. We have a small but consistent group of commercial customers.

 

>What sort of income numbers are reasonable for a photography services business?

 

This is a public forum and you ask a confidential question.

 

Regards

WW

[conraderb]

casey - in my books, there is good information and bad information.

 

IMHO, any info you get here would be bad information, b/c you need geographically focused information.

 

and most of your numbers can probably be guessed OR obtained by calling up a local pro photography studio.