The Real Time Fashion Photography Studio Marketing Essay

The Real Time Fashion Photography Studio Marketing Essay Real time Fashion Photography studio is a small business aimed at bringing a smile to every models face when they see their beauty captured in a stunning portrait. The business will offer a wide variety of products, such as: formal studio portraits, location portrait sessions, holiday candid photographs, portrait finishes, and framing. Portrait sittings are available in either the well-equipped studio, the comfort of the clients home, or in an outdoor setting. Real time Fashion Photography will be located in Indira Nagar, Bangalore. The business will be established as Sole Proprietorship. With two years experience in a variety of dealing with Fashion portfolio, British library, Bone China, I have acquired a range of transferable skills and attributes. These include sales experience through my previous retail management experience as well as photographic and design management skills gained through professional studies at Ayr College as well as Image College of art, animation and technology. My target audience will be upcoming models those who were studying fashion, love fashion to be a part of their carrier, and also one who have glamour and beauty and wanted to show their talent and skills. In Bangalore city there are numerous no of institutes around 16 institutes for fashion and total no of student in each year comes around 2000 students each year. Not only institutes, a individual also be my target audience who wants to shows his talent through his portfolio. Real-time Fashion Photography studio will reach their audience by targeting clients of these existing markets. We will fill an existing need for the client by specialising in fashion photography. Through advertisements in the print media, brochures, and establishing working relationships with fashion organizations and we will highlight our quality products and services to them. Each Clients of real-time fashion studio will receive a customizable profile page to introduce their skills and a photo album. Real-time Fashion Photography will be in a unique position of competition. We compete against the standard portrait studio that may photograph people, but only as an adjunct to fashion photographing. Real-time Fashion Photography will be in competitive edge as its commitment to customer service and satisfaction. We offer an array of services, flexible scheduling, and have the latest technology, with state of art infrastructure to produce beautiful fashion stylist photographic portraits. At Real-time Fashion Photography studio, models will our primary business; we understand model and how to get the right elements together for a successful portrait session. Our number-one goal will be quality results. Photography businesses usually require a significant initial investment in equipment and facilities. However the owner of Real-time Fashion Photography has been freelancer fashion photographer for two years and experienced professional-level photographic equipment to get the business off to a good start. In addition, the will be a cash support from family-based business. I really say thanks for giving a backbone support towards my fashion studio to my family members. 2. Introduction Establishing a Real-time Fashion studio business has been a goal for the past two years. For the past year i had worked with an experienced model in order to develop the reputation and professionalism required to establish this business. My mission statement is Treating our each model like beauty and Glamour The keys to success at Real-Time Fashion Photography studio include: Customer Satisfaction: providing a service that consistently meets or exceeds customers expectations. Environment: providing an environment conducive to bringing the best out of the model. Convenience: offering clients a wide range of services in a location or environment convenient to them. Reputation: reputation of the model and business as providing superior personal service. Professionalism: includes everything from meeting deadlines to hiring the best staff. Individual Attention: Each clients experience will be tailored to his or her preference. Repeat business/Recommendations: giving the kind of service that brings people back and encourages them to recommend us to friends and colleagues. Competitive Pricing: providing a fair and competitive price for the quality and array of services offered that provides the business with a fair and reasonable profit. 3. Goals and Objectives Real-Time Fashion Photography studio will be a small business aimed at bringing a smile to every model face when they see their beautiful face captured in a stunning portrait. We have set goals for the business and these are as follows. 0-6 Month Goals Added image manipulation to services provided. Setting up basic machines Secured a business mentor. Contracted tax/accounting consultant. Attending Biz financial training. Applied to Work and Income for start-up funding. Identified a preferred income protection insurance plan (to afford a replacement photographer and/or loss of income protection). 6-12 Month Goals To achieve profit of minimum Rs 8 lakh. Completed work for 350 numbers of clients. Created 100 pieces of stock photography and submitted to stock libraries. Maintained relationships with modeling agencies, Movie-Makers, Advertising agencies, fashion photographers. 1-2 Year Goals To achieve profit of 15 lakh. Completed work for 450 clients. Have to done at least 3 photo exhibitions in 5star hotels. Targeted 2 other places to open in India which include Pune, and Chennai. 3-5 Year Goals To achieve profit of 25 lakh. Completed work for 1200 clients. To be recognised as Indias top 10 fashion photography studios. Franchised the fashion photography business nationwide. Franchised the fashion photography business into India. 4. Business Details Business Ownership and Legal Structure Real-Time Fashion Photography will design to be a Sole Proprietorship business and will initially operate as a sole trader business. At this time it is the most appropriate structure as the business is managed and run by me. At this initial stage the business will face no long term liabilities or debts such as a lease or hire purchase costs; its all supported by my family. I anticipate registering the business as a Limited company in the second year, subject to professional advice. Such advantages would include: Limited liability on the business operations. The perception of professionalism by clients. Taking advantage of lower company tax rates as profits increase above 1000000 rs per annum. Providing a structure that would allow other photographers to participate in my company ownership in the future. Ability to franchise the concept. Company Locations and Facilities Real-time Fashion Photography will be located Indira Nagar, Bangalore. It will be Sole Proprietorship business, with an area of the 1400 square feet dedicated to client reception, office, and a small studio. Clients can elect to have the portrait sitting done in the studio, on location , or in an outdoor setting. The benefits of having the business located at Indira nagar include: Overheads for the business, in the form of the rental of space, power supply and landline telephone, can be minimized as compare to other part of Bangalore such as M.G road, Bgrade Road. The location on the main road of Indira nagar means that clients can easily access the premises by either public or private transportation. Its also in central part of Bangalore. So that most of youngster who want to have portfolio can easily access me. Our office will be equipped with a fax machine, email and a computer. The company will maintain a high degree of professionalism by using only the highest-quality photographic equipment and graphics to produce its portfolio. Products and Services Real-time Fashion Photography Studio offers a variety of products and services to meet our clients needs. We offer specific information on each of our products to the prospective client. This information will design to help the client select a setting for the portfolio session. The pictures we provide will give the client a feel for the variety of poses that can be used, and helps them decide if they wish to incorporate other fashion models in their portfolio. The discussion of the different settings helps the client select a studio session, home session, or outdoor location for the portfolio. We also provide instructions for each setting. Fashion Photography Studio The studio will be controlled environment, free from distraction, where the model can be comfortably posed and lighted to enhance the beauty of the final image. A variety of props and backgrounds will be used to stage a setting that will highlight the models features and coat color. These sessions must not be rushed, so the model can become comfortable in the studio environment and be certain that the studio lights do not frighten or excite the model. There is a standard charge for the portfolio session which we refer to as the sitting fee. The model will provided immediate digital images to be certain we have captured a pleasing likeness. These digital images are not the final proofs, but they do provide photographer and client with the assurance the session is accomplishing the desired outcome. A total of 24 proof-quality photographs will be provided for the client within two days of the photo session. The client will then have 1 days to consider the images before making a final selection. Location for Portfolio Session The model may be more comfortable in the home or a familiar outdoor location. The staff of Real-Time Fashion Photography will travel to the location prior to the portfolio session to select an area that will be the best suited for the session and will most acceptable to the model. Prior to the session, Real-Time Fashion Photography staff will stage the lighting and any other props needed for the photo session. If the location selected for the photo session will be in a public park, the model, not Real-Time Fashion Photography, will legally responsible for the behaviour of the publics. The fee for a photo session in the home or outdoor will be more than the studio because the equipment must be transported, staged, and then broken down. The client will be provided 24 photographic-quality images within two working days of the photo session. The client will then have one working day to consider the images before making a final selection. Additional Services Real-Time Fashion Photography will aware that a model portfolio will be investment as well as a cherished display of beauty and glamour. We offer a variety of portfolio finishes from which to choose. These finishes will be shown to the client upon pick up of the proofs, and the client will be given a brochure which illustrates these finishes to compliment a variety of model images. These finishes are used on the beautiful portfolios that will display in our studio gallery. Real-Time Fashion Photography also offers custom and readymade framing for all portfolios. We have a beautiful selection of tabletop frames to enhance the clients selection, and a variety of framing materials displayed in the studio for custom frame construction. At Real-Time Fashion Photography we will committed to customer service and satisfaction. Start-up Summary The founder of Real-time Fashion Photography Studio had graduated from Image College of Art, Animation and Technology. As I am the owner have a capital available of Rs 40-45 lakh from family to meet these start-up costs, funding is being sought from Work and Incomes Enterprise Allowance Scheme. Once these assets and start-up costs are done the business will be able to begin operations. A range of suppliers were approached for the majority of these start-up costs in order to ensure both quality and a competitive price. Quotes, from the chosen suppliers, for all the start-up costs purchased through the Enterprise Allowance Grant are included in the appendices at the back of the business plan. . Business Management Management Summary The management of Real-time Fashion Photography studio will be very simple in the first few years with the founder also managing the business. In addition to performing the artistic functions of the business, the market expert as well as owner will both initially must be involved in all aspects of the business, such as marketing, payroll, management of both accounts receivable and accounts payable, and other miscellaneous business details. Additional personnel can be added as the business accounts grow, in order to alleviate these responsibilities from the photographer, and this is expected to happen after having all things and equipments that will be 1 month after starting off. Real-Time Fashion Photographys growth will be deliberate rather than fast paced. It is a reasonable assumption that the demands of the office, and also assisting the photographer, might become too much for one individual. Depending on the strengths of the individual that fills the first full-time position, a second staff member may be hired within the first two week, and both will be trained in the others duties. Skills and Experience With two years experience in a variety of creative and commercial employment, Owner(me)had acquired a range of transferable skills and attributes. These include sales experience through his previous Freelance work as well as photographic and design management skills gained through his professional study. I had creative career path started during graduating with a professional degree and since I had also completed one year foundation course in graphic design from Ayr college Scotland. I had spent the past year as a Freelance photographic work for well known Indian companies like British Library, Bone-China and for model work I did completed portfolios for numerous models such as one of my client Rupa Khurana had performed in T.V serials in Rahul lai jayegaa Dulaneyaa in NDTV. I had built a strong network with other established photographers and belong to the Indian Institute of Professional Photographers who openly provide professional and legal advice and benefits. In areas such as financial planning, accounting and legal advice I will building relationships with such advisors to develop these areas of the business (see Advisors, Networks and Support). Staff Requirements Initially few permanent staff will be employed, with a photographic assistant contracted in on a project by project basis as required. After one months a receptionist/photographer assistant position will be advertised and appointed. The duties and job description for this person would include: General reception duties, including phones, mail, and greeting customers, setting appointments and managing appointment calendar, billing, handling both accounts receivable and accounts payable. 2 Assist photographers in portfolio sessions. 2 Marketing executives 2 Tele Callers with online promotions 1 Makeup Artiste 3 Helper 1 Stylist Artist 3 Post-Production Worker Salary Chart Position Salary (Monthly) Salary (Yearly) 1 Receptionist 12000 144000 2 Assistant Photographer 15000/each 360000 2 Marketing Executives 15000/each 360000 1 Make-Artist 15000 180000 3 Helper 12000/each 432000 1 Stylist Artist 15000 180000 3 Post-Production Worker 15000/each 540000 Grand Total 183000/Monthly 2196000/yearly It is understood that anyone employed by the business must have a written employment agreement, whether it be an individual agreement or a collective agreement. It is recognized that the Department of Labor website has an employment agreement builder to provide guidance to employers and employees on content for the creation of individual employment agreements. The builder provides examples of clauses drawn from a range of existing employment agreements, indicates which clauses are legally required in all agreements, and assembles the clauses into one draft agreement for saving and printing out. Advisors, Networks and Support It is recognised that the owner has not previously run a business and that he will need the support of a range of experienced business people, particularly in developing the financial management and processes required for the business. The following advisors will be utilised to assist the business owner operate the business in the most efficient manner. Bankers: Oriental bank of commerce, Indira nagar Bangalore Providing assistance in minimising bank fees and identifying banking products that can help manage and maximise cash flow. Accountant: Rahul Singh Lal bag Bangalore (Assisting in establishing financial processes for the business and will complete end of year accounts.) Lawyer: Sanjay Nandani City center Bangalore (Reviewing client copyright agreements and will be utilised when a limited liability company is established.) Business Advisor: Lakshy Management Consultant Pvt. Bangalore (Providing business advice through the first six months of the business operations.) Professional Association: National Institute of Photography New Delhi (Represents over 1500+ commercial fashion photographers in India. Provides resources, information, marketing and networking opportunities for members.) 6. Business Environment Market Size While no figures exist for overall fashion models in Bangalore, it will known that 15% of Bangalore populations are in fashion industries, thats why it made Bangalore the Fashion capital of East after Paris. In the Bangalore region there are 16 private and 4 national institutes for fashion. Approximately 2000 student each year needed portfolio and 15% of overall population also will be there in fashion. So within this target market, there is wide range of getting lots of customers. And also Bangalore is house of publishing many of international fashion magazines so it will be great for my business if we got tie-up from these magazines company. Today there are a lots of opening in glamour world of still for all age groups. Its not just for youngster but also for kids, mature, old every one. As growth of new trends new products regarding jeweler, cloths, food item, shopping malls, hotels, everywhere fashion photography involved. Market Trends Fashion has always been an important part of the Bangaloreans lifestyle. However, as the Bangalore culture has changed in the last two decades, an even more prominent role for the fashion has emerged. As Bangalore has enjoyed increased standards of living, they expect to pass this on to their fashion. Competition Real-time fashion Photography will be in a unique position of competition. While the portrait photography business is composed of dozens of small, individually-owned studios, fashion photography is a new, but very successful, experiencing rapid growth. We compete against the standard portrait studio that may photograph people, but only as an adjunct to photographing model. The benefits and drawbacks of each of our competitors as compared with the services we offer are hardly a match in quality and price. We are experts in working with model to make them comfortable and to bring out the inner quality and personality of the fashion model. Although we are a new organisation, we are not novices to photography or photographing models. Our scheduling and location flexibility are specifically geared to be client friendly. The fee schedules for Real-Time Fashion Photography are competitively priced. No other area photographer offers the flexibility and array of services provided to the client at Real-Time Fashion Photography. Our commitment to customer service and satisfaction is unequaled. Our major competitors are: Divas fashion studio Strengths: Exclusive Fashion Photographer. Have been in the market longer. Have established client base and reputation. Weaknesses: Array of services is limited. Inflexible with schedules Limited studio capability. Quality of final portrait. Prasad Photography Studios Strengths: Established studio locations and support staff. Established client base, often with repeat clients. Reputation as reliable and stable business. Weaknesses: Often very expensive. Little or no experience in fashion photography. Fashions are a sideline and not the major focus of the business. Can be inflexible with scheduling and out-of-studio work. Local Amateur Photographers Operate from home. Strengths: Pricing. Weaknesses: Quality of final product. Lack of professional photographic equipment and skills. Competitive Edge Real-Time Fashion Photographys competitive edge is its commitment to customer service and satisfaction. We offer an array of services, flexible scheduling, and have the latest technology to produce beautiful photographic portfolio. At Real-Time Fashion Photography, Fashion photography is our primary business, not a sideline or hobby. We understand model and how to get the right elements together for a successful portfolio session. We are patient, and our number one goal is quality results. 7. SWOT Analysis Strengths Formally skilled in photography. Have an established professional network (other photographers and related creative professionals). Acquired photographic best practice skills and knowledge (through working as a photographic assistant). Relationship building appreciates the value of building and sustaining professional relationships. Have strong skills in graphic design and image manipulation. Weaknesses Limited business and industry management experience. Small existing client base. Less start-up capital available. Opportunities Can add image manipulation as an additional service. Target major fashion shows and fashion organizations in other parts of Bangalore. Can create stock photography and submit to stock libraries. Hold first national fashion photo exhibition Franchise the Fashion photography business nationwide. Threats Established Fashion photographers in the Bangalore region. Sudden negative change in the economy, since this is a luxury item. Increased competition in the regional market. Forward Plans Opportunities Completion Date Add image manipulation to services provided. 1 months Create stock photography and submit to stock libraries. 1-2 months Hold first national Fashion photo exhibition. 1-2 years Target major Fashion shows and Fashion organizations in other parts of Bangalore. 1-2 years Franchise the fashion photography business nationwide. 3-5 years Contingency/Task Plans Weaknesses Contingency/Task Date Completed Limited financial management skills and experience. Contract tax/accounting consultant. Undertake free financial training through the Biz Programme. Completed 3-6 months Limited business and industry management experience. Utilise resources provided through membership of Indian Institute of Professional Photographers. Identify and approach a business mentor. Completed Completed Small existing client base. Develop relationships with fashion institutes. 1-3 months No start-up capital available. Apply to Work and Income for start-up funding. Within 1 month Loss of income due to illness and not being able to work. Identify a preferred income protection insurance plan (to afford a replacement photographer and/or loss of income protection). Within 1 month Threats Contingency/Task Date Completed Established Fashion photographers in the Bangalore region. Continuously observe competitors (what they do and who they do it for) and pitch the business with a point of difference. Ongoing Sudden negative change in the economy, since this is a luxury item. Maintain relationships with fashion specialty show organizers. Maintain relationships with wedding and event organizers to supplement any downturn by undertaking other types of photography work. Ongoing Ongoing Increased competition in the regional market. Maintain relationships with fashion specialty show organizers to limit access to market for competitors. Ongoing 8. Legal Implications/Regulations The primary legal considerations are business legal structure, copyright (e.g. licensing), privacy (e.g. property and model approvals) and regulatory (e.g. tax). Contractual Process and Documentation Before each job starts it is important to clearly document the expectations (Services required) with each client. This will effectively be the contractual arrangement with the client for each project. To ensure all legal obligations are covered the following documentation has been sourced through other professionals and associations. Project brief. Estimate/Invoice template. Licenses and Order Confirmation Form. Terms and Conditions of Engagement. Talent and Property Release Form. Project Brief Briefs provide a job description for each project; they are created before any work starts outlining the details of the images required by the client. Copyright License Agreement Copyright is a form of protection for original works that photographers enjoy. It is afforded automatically to any work, immediately on its creation in fixed form, and the copyright on the work normally becomes the property of the creator. Copyright is part and parcel of the creation process. Real-Time Fashion photography retains the copyright of all images photographed (in order to control who can reproduce them) as outlined in the Terms and Conditions of Engagement. In addition this information will be printed on the back of each photograph. To determine client reproduction rights for each project a License and Order Confirmation Form will be prepared for the client to read and sign before the commencement of any work. This License outlines the agreed media, time period and territories where the client can use these images where the client needs to use the photographs for publication. This is expected to be the case for fashion show organizers. Estimate (Cost) Written estimates are developed in accordance to the brief and licensing requirements: à ¢Ã¢â€š ¬Ã‚ ¢How many photographs model need basic 16 photographs come under a basic portfolio and 25 photographs come under premium portfolio. à ¢Ã¢â€š ¬Ã‚ ¢Basic portfolio charged will be Rs 30000 and premium portfolio will be charged Rs 45000 include make-up artist and fashion stylist. Terms and Conditions The Terms and Conditions of Engagement are the standard provided for use by the Indian Institute of Professional Photographers. Release Forms Under the Privacy Act 1993 approval needs to be sought to photograph personal property and people. The Indian Institute has professionally prepared Model Release and Property Release forms available for photographers to use. Financial Regulations and Insurance I Will going to be GST (Goods and service taxes) registered and a tax agent has been consulted to assist Real-Time Fashion Photography set up processes in relation to GST and tax. Spreadsheets have been set up to manage sales and expenses on a monthly basis, and the business owner will complete the two monthly GST returns. The tax agent will complete annual business accounts. A current business account has been set up through National Bank. This account has linked accounts for tax and GST. The owners current insurance is through State, who offers a full line of insurance coverage, and photographic and IT equipment will be insured for its full value by adding a rider to the existing owners policy. Compliance Issues I had received an affirmative answer from Bangalore City Council that the business can operate from a residential neighborhood, since noise, traffic, and pollution are not factors to be considered in this type of business. Compliance to the following Acts needs to be adhered to at all times: Privacy Act 1993 Fair Trading Act 1986 Consumers Guarantees Act 1993 Unsolicited Goods Act 1975 Unsolicited Electronic Messages Act 2007 Health and Safety in Employment Act 2002 Real-Time Fashion Photography recognizes it has a responsibility for the health and safety of us, our colleagues and our customers. We have a policy of identifying hazards in the work environment and, wherever possible, of taking practical action to ensure that these hazards do not cause accidents and injury so as to protect employees and other form of any harm that could result from work activities. This policy recognizes that the handling of model presents health and safety issues for staff and customers. In order to manage the risk Real-Time Fashion Photography will implement a three step health and safety policy action plan. These three steps are The development of an effective system for managing hazards in the place of work. Ensuring that employees have all the practical information they need to carry out their work safely. The recording, reporting and investigating of all accidents or incidents in the place of work. We aim to implement this action to the best of their ability within the resources available. Progress in implementing the three step plan will be regularly reviewed. 9. Marketing Strategy Marketing Summary Real-Time Fashion Photography will use marketing databases to accurately target our market. Working closely with local fashion show organizations, Fashion institutes, we will place well-designed advertising material in these locations to illustrate our capabilities. Our fashion studio will maintain