you are creating a market analysis
Please read file for further instructions. 350 words total. I have attached the financial plan for the business that you completed for me last week.
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.
Thompson: Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases
22ND EDITION, © 2020
By Arthur Thompson
Running Head: BLACK SANTA CHRISTMAS PHOTO STUDIO 1
BLACK SANTA CHRISTMAS PHOTO STUDIO 4
Black Santa Christmas Photo Studio Financial plan
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 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.
Funding is required for start up expenses and other expenses needed for business operations.
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
The total cost of capital for the business is $90,000. This money will be used to hire the studio, purchase photography equipment and pay the permits and licenses required for the business to operate.
Capital and supply Costs
The capital and supply costs for Black Santa will be $10,000. This money will be used for the procurement of supplies. This will include transmission costs and all pother costs that are necessary for the procurement of supplies.
The business will be marketed through its website, social media platforms and by using influencers (Sanaei & Sobhani, 2018). Costs of $15,000 will be incurred in opening social media accounts and the studio website as well as paying social media influencers.
The owner of the business will cover his personal living expenses of $20,000 per year. The studio will have one employee for the first three years. Te employees will be paid $1,700 per month. However, this wages will be increased by $500 per year.
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