Business portfolio
you are creating a marketing plan.
Please read file for further instructions. 350 words total (MAKE SURE TO COVER EACH BULLET POINT IN THE ASSIGNMENT ATTACHMENT BELOW).
The business is a black Santa Christmas photo studio. Please read the week 4 live plan portfolio attachment to get a better idea.
references:
Thompson: Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases
22ND EDITION, © 2020
By Arthur Thompson
Live plan for STR/58
1
Opportunity
Around December I anticipate receiving Santa pictures from my loved
ones. I hang them on my refrigerator until the next year. Last year my
niece expressed the desire to have take pictures with a black Santa. We
searched and couldn’t locate one near us.
A solution for this is starting a black Santa Christmas picture business of
our own. My mission is that my niece and any other black child who
wants pictures with a Santa that looks like them will get the
opportunity to have that.
There is actually a great market for my black Santa business. Since
finding out about my nieces desire for a black Santa I did some research
and there aren’t many black Santas out there but plenty black families
wanting one.
A black Santa company has been done before. Ive found about 3-4
different ones across the U.S on social media. But with my Santa
company we will find a way to distinguish us from the competition.
Pick us for your black Santa Christmas photos because we will treat
every session as we would our own family.
1
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
Description of business
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 sq
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.
A business case (why funding is needed)
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
Capital and supply Costs
Marketing costs
2
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
Labor costs
Refrences
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
3
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
Market Analysis from DAT/56
5
Market Analysis
The market for photography is both the business and non-profits
business. For Black Santa Christmas photo studio, the target market
small and the medium sized business and non-profit business which
have less than 500 employees within 20 miles radius of
Rochester, NY (Cotei & Farhat, 2017). Photography in New York has
especially in Rochester has experienced downward trend something
that can be attributed to the downward economic trend.According to
the Rochester Chamber of Commerce the town has experience
a significant drop in the commercial photography in its revenue over
the last two years. This is an indicator that the sector is significantly
encountering losses. The research further shows that the small medium
sized business in photograph which were
formally known to be big studios are not able to afford the rates. This
thus provides an advantage to the small photography’s that are in town.
The studios that provide the low prices and quality products are able to
survive in the market and seize a huge
market share in time for market upswing. In Rochester there are very
small business that are run by owners. Photography needs involves the
providing them with the basic collateral needs which are sighs,
pamphlets and brochures. The businesses begin
through taking the business in-house but over time the method
produces sub-standard results. They then decided to seek the less
expensive freelance photographers that can quickly handle their needs.
For the small business they have ongoing and regular
4
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
need of photography for their products and services. They appreciate
establishing relationships with vendors and thus interested in having
good products that are cheap and the less stressful creating them. They
are normally reluctant to change the vendor
once they are found. They, however, do check prices of their vendors
against their competitors in order to ensure that they are getting the
best the market has to offer (Sanaei & Sobhani, 2018).
The larger business in Rochester area are majorly served by large
studios which normally send photographers to client site. This requires
photographers that have the capacity to shoot in multiple locations.
Black Santa Christmas photo studio aims to
attract the small and medium business whom with the limited
resources, it can meet the client needs. The huge number of small and
medium business makes increases the viability of being in business.
References
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
5
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
HR/Labor
Black Santa Christmas Photo Studio will be run by the owner John
peters and one employee, Joyce walker. John has extensive
experience in the photography industry having worked as an industrial
photographer for seven years. Joyce on the other hand has four
year experience in sales but has interest.
Supply Chain
The studio will have two suppliers who will be responsible for
delivering of supplies to the studio store. The studio will advertise for
interested suppliers to apply. Once interested suppliers have been
vetted, they will be given a contract of two years.
One company will supply photography equipment while the other will
supply stationery materials. The company is located in a busy street
and this will attract more people to take photos.
Inventory Management
The studio will have an inventory management that will be customized
to meet the needs of the business. The software selected will allow for
the integration of applications ecosystem. This software will ensure
that inventory data is accurate and
eliminate human errors and reduce labor. After two years of operation,
SaaS cloud applications will be introduced to allow the studio access
data in real time and the use of multiple devices (Sanaei & Sobhani,
2018).
6
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
Process Management
Once a customer gets to the studio, one of the photographers will listen
to their needs and take the photo they need. The photo will then be
reviewed to see whether it is of the right quality. The photo will then
be modified using software to make
required adjustments. Finally, the photo will be handed to the client or
framed based on their needs. Payments can then be made after the
final product has been delivered to the customer (Arthur, Strickland, &
Janes, 2020).
Change Management
The business owner will identify what needs to be changed for the
studio to achieve its goals and plan for it. He will then identify source
of funding and communicate to the employees of the intended changes.
After getting feedback from the employees,
the change will be implemented.
Legal Issues/ Considerations
References
Arthur A.. Thompson, Strickland, A. J., & Janes, A. (2020). Crafting and
Executing Strategy: the quest for competitive advantage: concepts and
cases. McGraw-Hill Education. Retrieved from
https://www.amazon.com/Crafting-Executing-Strategy-Competitive-
Advantage/dp/125973278
9
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
7
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
Custom Section
8
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
9
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.
Live plan for STR/581
Profit and Loss Statement (With monthly detail)
FY2020 Oct ’19 Nov ’19 Dec ’19 Jan ’20 Feb ’20 Mar ’20 Apr ’20 May ’20 June ’20 July ’20 Aug ’20 Sept ’20
Total Revenue
Total Direct
Costs
Gross Margin
Gross Margin %
Operating
Expenses
Operating
Income
Interest Incurred
Depreciation and
Amortization
Gain or Loss from
Sale of Assets
Income Taxes
Total Expenses
Net Profit
Net Profit /
Sales
10
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the
understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
Live plan for STR/581
FY2020 FY2021 FY2022
Total Revenue
Total Direct Costs
Gross Margin
Gross Margin %
Operating Expenses
Operating Income
Interest Incurred
Depreciation and Amortization
Gain or Loss from Sale of Assets
Income Taxes
Total Expenses
Net Profit
Net Profit / Sales
11
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the
understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
Live plan for STR/581
Balance Sheet (With Monthly Detail)
FY2020 Oct ’19 Nov ’19 Dec ’19 Jan ’20 Feb ’20 Mar ’20 Apr ’20 May ’20 June ’20 July ’20 Aug ’20 Sept ’20
Cash
Accounts
Receivable
Inventory
Other Current
Assets
Total Current
Assets
Long-Term Assets
Accumulated
Depreciation
Total Long-
Term Assets
Total Assets
Accounts Payable
Income Taxes
Payable
Sales Taxes
Payable
Short-Term Debt
Prepaid Revenue
Total Current
Liabilities
Long-Term Debt
Long-Term
Liabilities
Total Liabilities
Paid-In Capital
12
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the
understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
Live plan for STR/581
Retained
Earnings
Earnings
Total Owner’s
Equity
Total Liabilities
& Equity
13
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the
understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
Live plan for STR/581
FY2020 FY2021 FY2022
Cash
Accounts Receivable
Inventory
Other Current Assets
Total Current Assets
Long-Term Assets
Accumulated Depreciation
Total Long-Term Assets
Total Assets
Accounts Payable
Income Taxes Payable
Sales Taxes Payable
Short-Term Debt
Prepaid Revenue
Total Current Liabilities
Long-Term Debt
Long-Term Liabilities
Total Liabilities
Paid-In Capital
Retained Earnings
Earnings
Total Owner’s Equity
Total Liabilities & Equity
14
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the
understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
Live plan for STR/581
Cash Flow Statement (With Monthly Detail)
FY2020 Oct ’19 Nov ’19 Dec ’19 Jan ’20 Feb ’20 Mar ’20 Apr ’20 May ’20 June ’20 July ’20 Aug ’20 Sept ’20
Net Cash Flow
from
Operations
Net Profit
Depreciation &
Amortization
Change in
Accounts
Receivable
Change in
Inventory
Change in
Accounts
Payable
Change in
Income Tax
Payable
Change in Sales
Tax Payable
Change in
Prepaid
Revenue
Net Cash Flow
from
Operations
Investing &
Financing
Assets
Purchased or
Sold
Net Cash from
Investing
Investments
Received
15
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the
understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
Live plan for STR/581
Dividends &
Distributions
Change in
Short-Term
Debt
Change in Long-
Term Debt
Net Cash from
Financing
Cash at Beginning
of Period
Net Change in
Cash
Cash at End of
Period
16
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the
understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
Live plan for STR/581
FY2020 FY2021 FY2022
Net Cash Flow from Operations
Net Profit
Depreciation & Amortization
Change in Accounts Receivable
Change in Inventory
Change in Accounts Payable
Change in Income Tax Payable
Change in Sales Tax Payable
Change in Prepaid Revenue
Net Cash Flow from Operations
Investing & Financing
Assets Purchased or Sold
Net Cash from Investing
Investments Received
Dividends & Distributions
Change in Short-Term Debt
Change in Long-Term Debt
Net Cash from Financing
Cash at Beginning of Period
Net Change in Cash
Cash at End of Period
17
CONFIDENTIAL – DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only with the
understanding that you will not share its contents or ideas with third parties without the express written consent of the plan author.
- Executive Summary
- Market Analysis from DAT/565
Opportunity
Around December I anticipate receiving Santa pictures from my loved ones. I hang them on my refrigerator until the next year. Last year my niece expressed the desire to have take pictures with a black Santa. We searched and couldn’t locate one near us.
A solution for this is starting a black Santa Christmas picture business of our own. My mission is that my niece and any other black child who wants pictures with a Santa that looks like them will get the opportunity to have that.
There is actually a great market for my black Santa business. Since finding out about my nieces desire for a black Santa I did some research and there aren’t many black Santas out there but plenty black families wanting one.
A black Santa company has been done before. Ive found about 3-4 different ones across the U.S on social media. But with my Santa company we will find a way to distinguish us from the competition.
Pick us for your black Santa Christmas photos because we will treat every session as we would our own family.
Financial Plan from FIN/571
Description of business
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 sq
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.
A business case (why funding is needed)
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
Capital and supply Costs
Marketing costs
Labor costs
Refrences
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
Market Analysis
The market for photography is both the business and non-profits business. For Black Santa Christmas photo studio, the target market small and the medium sized business and non-profit business which have less than 500 employees within 20 miles radius of
Rochester, NY (Cotei & Farhat, 2017). Photography in New York has especially in Rochester has experienced downward trend something that can be attributed to the downward economic trend.According to the Rochester Chamber of Commerce the town has experience
a significant drop in the commercial photography in its revenue over the last two years. This is an indicator that the sector is significantly encountering losses. The research further shows that the small medium sized business in photograph which were
formally known to be big studios are not able to afford the rates. This thus provides an advantage to the small photography’s that are in town. The studios that provide the low prices and quality products are able to survive in the market and seize a huge
market share in time for market upswing. In Rochester there are very small business that are run by owners. Photography needs involves the providing them with the basic collateral needs which are sighs, pamphlets and brochures. The businesses begin
through taking the business in-house but over time the method produces sub-standard results. They then decided to seek the less expensive freelance photographers that can quickly handle their needs. For the small business they have ongoing and regular
need of photography for their products and services. They appreciate establishing relationships with vendors and thus interested in having good products that are cheap and the less stressful creating them. They are normally reluctant to change the vendor
once they are found. They, however, do check prices of their vendors against their competitors in order to ensure that they are getting the best the market has to offer (Sanaei & Sobhani, 2018).
The larger business in Rochester area are majorly served by large studios which normally send photographers to client site. This requires photographers that have the capacity to shoot in multiple locations. Black Santa Christmas photo studio aims to
attract the small and medium business whom with the limited resources, it can meet the client needs. The huge number of small and medium business makes increases the viability of being in business.
References
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
Operations Plan from OPS/574
HR/Labor
Black Santa Christmas Photo Studio will be run by the owner John peters and one employee, Joyce walker. John has extensive experience in the photography industry having worked as an industrial photographer for seven years. Joyce on the other hand has four
year experience in sales but has interest.
Supply Chain
The studio will have two suppliers who will be responsible for delivering of supplies to the studio store. The studio will advertise for interested suppliers to apply. Once interested suppliers have been vetted, they will be given a contract of two years.
One company will supply photography equipment while the other will supply stationery materials. The company is located in a busy street and this will attract more people to take photos.
Inventory Management
The studio will have an inventory management that will be customized to meet the needs of the business. The software selected will allow for the integration of applications ecosystem. This software will ensure that inventory data is accurate and
eliminate human errors and reduce labor. After two years of operation, SaaS cloud applications will be introduced to allow the studio access data in real time and the use of multiple devices (Sanaei & Sobhani, 2018).
Process Management
Once a customer gets to the studio, one of the photographers will listen to their needs and take the photo they need. The photo will then be reviewed to see whether it is of the right quality. The photo will then be modified using software to make
required adjustments. Finally, the photo will be handed to the client or framed based on their needs. Payments can then be made after the final product has been delivered to the customer (Arthur, Strickland, & Janes, 2020).
Change Management
The business owner will identify what needs to be changed for the studio to achieve its goals and plan for it. He will then identify source of funding and communicate to the employees of the intended changes. After getting feedback from the employees,
the change will be implemented.
Legal Issues/ Considerations
References
Arthur A.. Thompson, Strickland, A. J., & Janes, A. (2020). Crafting and Executing Strategy: the quest for competitive advantage: concepts and cases. McGraw-Hill Education. Retrieved from https://www.amazon.com/Crafting-Executing-Strategy-Competitive-
Advantage/dp/1259732789
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
Marketing Plan from MKT/574
Custom Section
Strategic Plan from STS/581
Appendix
Profit and Loss Statement (With monthly detail)
Balance Sheet (With Monthly Detail)
Cash Flow Statement (With Monthly Detail)