Business Plan- Financial Plan, Exit Strategy, Executive Summary, Reference List, & Complete Business Plan

Business Plan: Project Proposal and Company Information

Today, the need for professional photography has increased because many families need to capture special moments. The Top-Notch Photography Studio is a small start-up professional photography business. This business expects to attract many customers and create a sense of customer loyalty with the variety of photography products and services the company will offer. The Top-Notch Photography Studio aims to provide photography-related products and services at a competitive price to meet the demand of the market and also attract many people to purchase professional photography services. Even though many people own cameras and smartphones, which can capture special moments, there is still a gap in the market because people still need professional-quality photos. Additionally, many photography services can be offered to individuals and also corporate companies (Scott, 2014). Therefore, this photo studio seeks to fill this market gap.

The Top-Notch Photography Studio will mainly target to offer photography services to families with newborn babies and children below the age of ten, school photos, weddings, and corporate events. The mission of this photo studio is to ensure that all clients can preserve special moments. Therefore, the business will be committed to offering professional quality photographs both in physical and digital format. Other supportive services that the company will provide include advising clients on issues regarding photography, such as choosing the photo venues. The objectives of this business are to create a strong client relationship within the second year, to generate a healthy net profit after 18 months, to ensure clients are satisfied, and to have an annual growth rate of over 25 percent. For this to be successful, there will be a system that will help in tracking clients' ongoing needs for professional photography services, and clients will also be able to interact through social media platforms, which will be provided. In the decision-process, I learned that it is vital to have a business that offers many services, mainly because offering services does not require a lot of start-up capital as compared to providing products solely. However, this type of business requires a lot of research, interacting with clients from different backgrounds, knowledge, and experience regarding clients' preferences, and also creativity. I have learned that this industry is a growing industry, and hence why there is a big market gap (Tuck, 2009). The Top-Notch Photography Studio is a sole proprietorship, and this will make the decision-making process more comfortable, and the start-up costs will also be economical.

References Scott, G. (2014). Professional Photography: The new global landscape explained. Routledge. Tuck, K. (2009). Commercial photography handbook: Business techniques for professional digital photographers. Amherst Media. .