Foundations of Business: BUS/210
July 2, 2014
Instructor: Frank Caccamo
The business plan that I have chosen is Adorable Pet Photography. My new company will be a small business operating out of Ashland, Virginia. We will offer pet owners portrait quality photography services both in our onsite studio and at their home or event. Using the latest technology we will use computer graphics to enhance their pet’s portraits and offer a wide array of backgrounds to choose from. We will also do candid shots to capture that perfect expression or pose that showcases their pet’s personality; as well as family shots that display ...view middle of the document...
I already own all required equipment. This will keep my start-up costs and overhead low. I plan to establish a solid customer base, and a reputation for excellence in customer service and quality products which I will use to expand my company over time.
The following is a SWOT Analysis of my new company:
Subject of SWOT analysis: Adorable Pet Photography
Graduation from an acclaimed school of photography with over 10 years in the business
An established reputation with pet related associations in the community
Free word of mouth advertising from pet associations
Specialization of company to focus only on pets and their families
Low start-up costs
Enough money in savings to cover projected costs for two years
Low overhead enabling a quality product at an affordable price
On and off-site capabilities
Computer graphics for image enhancement
Wide variety of backgrounds
Ability to caption candid photos
Lack of experience as a new company
Small client base
Competing against established companies in the community
Lack of funding for store front studio at start-up
Only one crew available for shoots
Small advertising budget
People willing to spend money on their pets
Competitors not specializing in pet only photos
Technology allows expansion into additional products such as calendars, photo books, mugs, key chains, etc.
Positive feedback in the pet community for this niche product
Possibility of future partnership and expansion
In studio photography negates issues with interference from weather
Upswing in the economy...