They no longer want to capture the moments of their wedding, but they are looking to capture the feeling and emotions and celebrations though live videos. The market is growing at the rate of 15 — 20 percent per annum and there is scope and room for new players with a differentiated offering to enter the industry. Product We will introduce the high definition HD effects in wedding videography coupled with customized digital sound effects and ideas to take the wedding videography to a different level. We will create a whole new range of offerings that include the entire wedding celebrations from planning to cake cutting.
The video function available on the XDCAM EX Camcorder we use will allow wedding videographers to create an entire new range of offerings and creative choices that are available to photographers with high resolution cameras to control imagery. The cameras have extra ordinary low light performance capabilities to produce outstanding cinematography even in churches and receptions in dim-lit hotels.
Most of these firms have positioned themselves as creative with an array of service and product offerings.
Most of them lay emphasis on quality, but do not provide HD technology still. The competitive advantage with my company will be the use of HD technology in wedding videography that will provide the customer with high quality offering at standard market price. This added to the expertise and creativity will differentiate our offering. Page 13 of 30 Niche We will be providing the HD quality for wedding videos which is not the offering provided by our competitors.
The high definition videos and digital sound in videos will take wedding videography to a different level. Page 14 of 30 Pricing The pricing will be competitive in nature. Though, we will provide additional services and higher quality prints and videos.
The customers will prefer higher quality products at matching prices. Proposed Location The location for my business will be a small shop, in a commercial area in Sydney.
It is important that the location of the office is where the footfalls come in and it is convenient for them. The enquiries for business will come easily only if the location of the office is on the street and visible to the target audience. Though space wise I do not require a big location. In the beginning of the venture, a smaller location will solve the purpose well. The customers do not prefer high street locations as they perceive that the services are expensive. Sales Forecast The sales forecast of the business has been prepared with a conservative estimate in mind.
It includes the potential business we will be able to achieve through sales strategy, references and direct walk-in of customers. The initial few months will be a drag on the business as we are not well known in the industry and it will take time before we win referrals through our existing clients for more business. Page 15 of 30 The sales forecast assumes a cyclical nature in demand. Operational Plan The following explains the operational plan for the business.
The best place for a office will be a smaller bylane or street in Sydney frequently visited by locals for shopping. Physical requirements: The space required for the purpose of the business initially in not much given that the backend activities can be done from home, the marketing part can be taken care off from an office that is sq mtr of carpet space.
Page 16 of 30 The office should be preferably on the ground floor in a commercial building or an independent building. We require power back-up and other necessary equipment like a computer printers and our camera etc Access: It is important that the customers have easy visibility and access to our office so that there are easy walk-ins. Though, we do not need any specific requirements for parking of vehicles as that can be taken care by public parking places.
The business hours will be Monday to Saturday, a. The employees can either be experienced independent professionals or graduate students from cinematography schools or industry. The assistant will have a greater role in the production and editing part. I will prepare documentation of the procedures to be followed by employees including me in operations.
At times when the work load is enormous I will not mind hiring contractual or project based employees or freelancers. Inventory The inventory will include the cameras, DVDs, printers, scanners and developing software and a computer apart from the power backup required.
The turnover of the company will be very small as compared to the peers in the beginning but the growth will very high until we gain substantial market share. The industry is seasonal and this will impact the business sales. The time between ordering and closure of the sale will be around 15 days. Page 18 of 30 Management and Organization The day to day management will remain in my hands. I do not have much experience owning a business but am confident that my knowledge and expertise will compensate for it.
Professional and Advisory Support The following professional services will be required at the time of operations of the business. The final advisors and professionals can be identified later Accountant: required to audit and maintain the financial statements of the business as well as the taxation issues Insurance agent: Required for insurance of the business and the equipments, such services are easily available Banker: A banker to the business will be needed for daily activities and cash flows.
Other services can be taken as and when required by the company. Page 19 of 30 Personal Financial Statement My personal financial health include the following, I have a healthy savings in my accounts which I can mobilize in case I need. Apart from this I have no liabilities of any loans or credits in my account. The data had been taken from independent research and marketing plans in similar businesses. These expenses do not include the salary of the employee Assistant hired at the beginning of the project.
However, capital required in subsequent months will be significantly low. I will not be scouting for investors as that may lead to lowering of my stake and undue pressures, which may cause deviation in the strategy. The business is expected to break into profits in the second year of its operations. The most significant cost is the salary paid to employees and the rent.
The brake even analysis shown in the below mentioned chart is a monthly representation of the net profits of the firm. It has also incorporated the sales figures and the seasonality in the sales of the wedding videography space.
Saad Arain. Dolah Chiku. Donato Santoli. Sana Khan. Naman Bansal. Shajin Santhosh. Matthew Kauffmann. Rana Gaballah. Mercutio Goins. Clement Thompson. Pauline de Vera. Zartosht Matthijs. Joshua Lemmens. Kevin-Nicole Kitt. Claudiu Raileanu. Gaurav Padalia. It takes a special ability to connect with other in order to elucidate this ever-so-important element of humanity. I highly recommend Juan for anyone wanting to professionally capture the expression of human essence for their business. He is great to work with, give him a call!
You are a genius! I have laughed, cried, and laughed and cried more. I am so happy we crossed paths with you! You have created a masterpiece! I want everyone to know how talented and personable you are!
Michael's Video Service video production business plan executive summary. Michael's Video Service is a start-up company providing video production services. Wedding Videography Business Plan - Free download as Word Doc .doc), PDF File .pdf), Text File .txt) or read online for free. Business plan.
Absolutely incredible! Business Videos. Personal Videos. Films Based on Emotion We create promotional video vignettes that connect with your audience by using honest sentiment and empathy. Capturing the Essence We make sure we not only highlight who you are but also showcase your vision, mission, and the passion that you put into what you do.