Distinctive Photography “Zoom! Flash! Cheese!” Dustin Hayes Eleventh Grade Age: 16

Embed Size (px)

Text of Distinctive Photography “Zoom! Flash! Cheese!” Dustin Hayes Eleventh Grade Age: 16

  • Distinctive PhotographyZoom! Flash! Cheese!Dustin Hayes Eleventh GradeAge: 16

  • Business ProfileDescription: Distinctive Photographys main objective is to capture the essence of life in an everlasting photo that is comparable to the quality of a professional photograph but at an inexpensive price. Type of Business: Manufacturing/RetailI will satisfy the consumers needs by taking professional quality photographs at inexpensive prices. I will meet with the consumer at their desired destination to take the photograph and then add the photograph to other optional memorabilia. Legal Structure: Sole ProprietorshipI chose a Sole Proprietorship because I have years of experience with photography and the necessary equipment to produce the photographs. 1

  • OpportunityOpportunityCapture the essence of life in an everlasting photoStore the photos on CDs for up to 10 years in the event that the consumer loses or wants more of a particular photograph. Create memorabilia (CDs, Key chains, T-Shirts, Greeting Cards, etc.)QualificationsSkilled in professional photographyExperienced Friendly, people-oriented personBusiness Classes2

  • Consumer Profile By LocationSchool/Community of MullinsBy PopulationAge:13-19 Middle-Class FamiliesBy PersonalitySpecial Events, Festivals, Athletic Games, School Related Activities. Working Class w/ Limited IncomeBy BehaviorSears, JcPenney, CVS, Walgreens, WalMartBy Income$12-23k

    Photo of a consumer3

  • Competition Competitive Advantage Photo back-up, Photograph Options, Edit Photos, I take the picture whereas my competition just prints them off.

    4

    CompetitorPriceQuantityGreatest StrengthGreatest WeaknessWalMart$ .281 photoSpeedYou take the photoWalgreens$ .281 photoSpeedYou take the photoCVS$ .291 photoSpeedYou take the photo

  • Marketing MixPrice: Economy of my Consumers, Cost of MaterialsPlace: HomeProduct: Reasonably Priced, Comparable to Professional PicturesPromotion:Reasonably Prices, Comparable to Professional Pictures, Will Travel to Desired Destination5

  • Marketing Plan6

    PhaseMethodDescriptionCostAwarenessFlyers, Radio/Television broadcastsMullins.250 flyers, Commercials$50Purchase Sample ProductsI plan to give away sample products to target consumers$150RetentionCoupons, SalesGive coupons at the end of a customers purchase to keep them coming back$50

  • Economics of 1 Unit

    7

    Definition of One UnitPackage DSelling Price per Unit$ 27.95COGS Per Unit $ 4.25Variable Costs Per Unit(outgoing shipping, packaging, commissions)$ 0Total Cost of Sales$ 4.25Gross Profit Per Unit$ 23.70

  • Time Management Plan10

    Business Schedule for a Typical WeekEntrepreneurshipHoursSchool Hours (7 hr/day)35Work Hours (ex.part time job)25Free-Time Hours (willing to devote)15

  • Average Monthly Fixed Costs11

    Type of Fixed Cost Monthly Cost

    Entrepreneurial Stipend$0utilities$0salaries of employees$0advertising$25insurance$0interest$0rent$0depreciation$0other$0Total Monthly Fixed Costs$ 25.00

  • Sales AssumptionsWhat are the assumptions that inform your projections?1,000 Full capacity 60 hours (15/week)Seasonality The busiest time is around April and May because of prom and graduation. 2 months12

  • Monthly Sales Projections Total =43(Double click on chart to add information)13

    MonthUnits SoldJanuary3February2March1April7May6June4July1August2September2October3November5December7

    Monthly Break-Even UnitsMonthly Fixed Costs/Gross Profit Per Unit1

  • Projected Yearly Income Statement 14

    Selling Price Per Unit$ 27.95# of Units Sold 43Total Sales $1201.85 Total COGS$ 182.75 Other Variable Costs $ 0Total Variable Costs $ 182.75Gross Profit$1019.10 USAIIRDO$25.00 Other Costs/Unforeseen$0Total Fixed Costs$25.00Profit before Taxes$994.10Less Estimated Taxes @25%$248.53Net Profit$745.57

  • Start-up Investment15

    Entrepreneurial hours needed for start-up Wage I pay myself Total start-up time investment 15$0.00$ 0.00ItemWhere I will buy this?Cost of ItemInkOffice Depot$ 25.00Photo Paper (8.5 x 11)Sams Club$ 30.00Photo Paper (4 x 6)Sams Club$ 20.00 CASH RESERVE covering 3 months of fixed costs$225.00Estimated TOTAL START-UP INVESTMENT$300.00

  • Return On Investment 16

    Return on Investment (ROI) Yearly Net Profit Start-up Investment X 100248.52%For every $1 dollar invested, my business earned :$2.49

    InvestmentReturnSavings1.2 %CD4.0 %Stock MarketN/AEntrepreneur248.52 %

  • Social Responsibility Plan Help to keep life-long memories with the financially unstable populationCommunityDonate items to Nursing Home for weekly odd and end saleUse digital cameras instead of disposable cameras; recyclable materials (CD/CD cases, paper, Ink Cartridges) 17

  • Business & Educational Goals Business- Complete Entrepreneurship Class

    Expand BusinessBuy a Professional Quality Camera, Buy Lighting and Backdrops, Buy Props

    Educational - 4-year College

    - Attend Medical University

    18

  • Distinctive Photographys main objective is to capture the essence of life in an everlasting photo that is comparable to the quality of a professional photograph but at an inexpensive price.

    Thank you for your consideration of Distinctive Photography

    19

    *****