Business Portfolio Assignment
you are creating a operations plan.
Please read file for further instructions. 350 words total (MAKE SURE TO COVER EACH BULLET POINT IN THE ASSIGNMENT ATTACHMENT BELOW). you’ve completed the financial plan and the market analysis for me already which you can see in the live plan attachment I’ve added below.
The business is a black Santa Christmas photo studio. Please read the live plan attachment to get a better idea. I also attached a sample live plan of a photography company so that you can have a idea of the kind of flow the plan should have.
references:
Thompson: Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases
22ND EDITION, © 2020
By Arthur Thompson
Live plan for STR/581 |
Executive Summary
Opportunity
Around December I anticipate receiving Santa pictures from my loved ones. I hang them on my refrigerator until the next year. Last year my niece expressed the desire to have take pictures with a black Santa. We searched and couldn’t locate one near us.
A solution for this is starting a black Santa Christmas picture business of our own. My mission is that my niece and any other black child who wants pictures with a Santa that looks like them will get the opportunity to have that.
There is actually a great market for my black Santa business. Since finding out about my nieces desire for a black Santa I did some research and there aren’t many black Santas out there but plenty black families wanting one.
A black Santa company has been done before. Ive found about 3-4 different ones across the U.S on social media. But with my Santa company we will find a way to distinguish us from the competition.
Pick us for your black Santa Christmas photos because we will treat every session as we would our own family.
Financial Plan from FIN/571
Description of business
Black Santa Christmas photo studio is a start up photographic studio located in New York. This studio meets the needs of families by capturing their best Christmas moments and presenting them with the best quality possible. The studio will occupy a 400 sq
square foot building at the 149th street in Bronx borough. This will allow customers to have easy access to the building. The building will also have enough parking spaces for our customers. The studio will use high-resolution digital cameras to capture
the best Christmas moments for our customers. The images produced will be printed using high quality printers that can be able to produce quality photos.
A business case (why funding is needed)
Source of Capital
The sources of capital for the business include personal investments, love money and bank loans (Cotei & Farhat, 2017). However, most of the capital will be personal investments. This will prove to banks that I have a long term commitment to the business
and this will allow them to give me a loans to build grow the business.
Cost of Capital
Capital and supply Costs
Marketing costs
Labor costs
Refrences
Cotei, C., & Farhat, J. (2017). The evolution of financing structure in US startups. The Journal of Entrepreneurial Finance, 19(1), 4. Retrieved from https://digitalcommons.pepperdine.edu/cgi/viewcontent.cgi?article=1307&context=jef
Sanaei, M. R., & Sobhani, F. M. (2018). Information technology and e-business marketing strategy. Information Technology and Management, 19(3), 185-196. Retrieved from https://link.springer.com/article/10.1007/s10799-018-0289-0
Market Analysis from DAT/565
Market Analysis
The market for photography is both the business and non-profits business. For Black Santa Christmas photo studio, the target market small and the medium sized business and non-profit business which have less than 500 employees within 20 miles radius of
Rochester, NY (Cotei & Farhat, 2017). Photography in New York has especially in Rochester has experienced downward trend something that can be attributed to the downward economic trend.According to the Rochester Chamber of Commerce the town has experience
a significant drop in the commercial photography in its revenue over the last two years. This is an indicator that the sector is significantly encountering losses. The research further shows that the small medium sized business in photograph which were
formally known to be big studios are not able to afford the rates. This thus provides an advantage to the small photography’s that are in town. The studios that provide the low prices and quality products are able to survive in the market and seize a huge
market share in time for market upswing. In Rochester there are very small business that are run by owners. Photography needs involves the providing them with the basic collateral needs which are sighs, pamphlets and brochures. The businesses begin
through taking the business in-house but over time the method produces sub-standard results. They then decided to seek the less expensive freelance photographers that can quickly handle their needs. For the small business they have ongoing and regular
need of photography for their products and services. They appreciate establishing relationships with vendors and thus interested in having good products that are cheap and the less stressful creating them. They are normally reluctant to change the vendor
once they are found. They, however, do check prices of their vendors against their competitors in order to ensure that they are getting the best the market has to offer (Sanaei & Sobhani, 2018).
The larger business in Rochester area are majorly served by large studios which normally send photographers to client site. This requires photographers that have the capacity to shoot in multiple locations. Black Santa Christmas photo studio aims to
attract the small and medium business whom with the limited resources, it can meet the client needs. The huge number of small and medium business makes increases the viability of being in business.
References
Cotei, C., & Farhat, J. (2017). The evolution of financing structure in US startups. The Journal of Entrepreneurial Finance, 19(1), 4. Retrieved from https://digitalcommons.pepperdine.edu/cgi/viewcontent.cgi?article=1307&context=jef
Sanaei, M. R., & Sobhani, F. M. (2018). Information technology and e-business marketing strategy. Information Technology and Management, 19(3), 185-196. Retrieved from https://link.springer.com/article/10.1007/s10799-018-0289-0
Operations Plan from OPS/574
Custom Section
Marketing Plan from MKT/574
Strategic Plan from STS/581
Live plan for STR/581 |
8CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
Appendix
Profit and Loss Statement (With monthly detail)
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Net Profit / Sales |
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Operating Income | |||
Interest Incurred | |||
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Gain or Loss from Sale of Assets | |||
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Total Expenses | |||
Net Profit | |||
Net Profit / Sales |
Balance Sheet (With Monthly Detail)
FY2020 | Oct ’19 | Nov ’19 | Dec ’19 | Jan ’20 | Feb ’20 | Mar ’20 | Apr ’20 | May ’20 | June ’20 | July ’20 | Aug ’20 | Sept ’20 |
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Total Liabilities & Equity |
FY2020 | FY2021 | FY2022 | |
Cash | |||
Accounts Receivable | |||
Inventory | |||
Other Current Assets | |||
Total Current Assets | |||
Long-Term Assets | |||
Accumulated Depreciation | |||
Total Long-Term Assets | |||
Total Assets | |||
Accounts Payable | |||
Income Taxes Payable | |||
Sales Taxes Payable | |||
Short-Term Debt | |||
Prepaid Revenue | |||
Total Current Liabilities | |||
Long-Term Debt | |||
Long-Term Liabilities | |||
Total Liabilities | |||
Paid-In Capital | |||
Retained Earnings | |||
Earnings | |||
Total Owner’s Equity | |||
Total Liabilities & Equity |
Cash Flow Statement (With Monthly Detail)
FY2020 | Oct ’19 | Nov ’19 | Dec ’19 | Jan ’20 | Feb ’20 | Mar ’20 | Apr ’20 | May ’20 | June ’20 | July ’20 | Aug ’20 | Sept ’20 |
Net Cash Flow from Operations | ||||||||||||
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Depreciation & Amortization | ||||||||||||
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Net Cash Flow from Operations | ||||||||||||
Investing & Financing | ||||||||||||
Assets Purchased or Sold | ||||||||||||
Net Cash from Investing | ||||||||||||
Investments Received | ||||||||||||
Dividends & Distributions | ||||||||||||
Change in Short-Term Debt | ||||||||||||
Change in Long-Term Debt | ||||||||||||
Net Cash from Financing | ||||||||||||
Cash at Beginning of Period | ||||||||||||
Net Change in Cash | ||||||||||||
Cash at End of Period |
FY2020 | FY2021 | FY2022 | |
Net Cash Flow from Operations | |||
Net Profit | |||
Depreciation & Amortization | |||
Change in Accounts Receivable | |||
Change in Inventory | |||
Change in Accounts Payable | |||
Change in Income Tax Payable | |||
Change in Sales Tax Payable | |||
Change in Prepaid Revenue | |||
Net Cash Flow from Operations | |||
Investing & Financing | |||
Assets Purchased or Sold | |||
Net Cash from Investing | |||
Investments Received | |||
Dividends & Distributions | |||
Change in Short-Term Debt | |||
Change in Long-Term Debt | |||
Net Cash from Financing | |||
Cash at Beginning of Period | |||
Net Change in Cash | |||
Cash at End of Period |
16 |
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.