3. Mission Statement
Mission Statement:
Seeing as opus|magnum revels in the art of digital photography and
editing, our company’s mission is to deliver professional outcomes at the
most affordable cost to our customers.
Opportunities:
In an age where digital reconstruction and intellect is thrown behind
every design, opus|magnum is taking advantage of the competitive
market by offering a more refined product to its customers at a more
affordable cost.
4. Business Profile
Type of Business
opus|magnum is a service business.
The service that this company provides is the
production and sale of professional-grade
photographs and prints i.e., “great work.”
Legal Structure
We are a partnership.
This legal structure was chosen because it is the most
affordable, we have no personal assets to protect at
the time, and it allows us to pool our knowledge to
yield forth the best work possible for our customers
5. Qualifications
Have over 6 years experience in the fields of photography, digital editing,
and contemporary graphic design.
Can speak up to 4 languages between the two of us, including Spanish
and Italian.
Attend a technology school that will further our understanding of the
more modern means of our specialties.
In the process of completing a course on Entrepreneurship.
Planning on studying photography and business in order to obtain
college degrees in those fields.
We are qualified to run and sustain this business because the
both of us:
6. Market Analysis
Industry Name Photographic Services
Industry Size $5,054,976,000
894,014
357,220
396,912
Total Population Hartford County, Connecticut
ZIP codes: 06112, 06002, 06095 etc.
Target Market Adults, both male and female, ages 16-
50, with an average household income of
greater than $20,000, as service values
vary.
Potential Market Based on a survey on 100 individuals,
approximately 90% of the people
surveyed said they would consider hiring
a professional-grade photographer if
rates were not as high conventional
photography firms.
Total Population
Target Market
Potential
Market
7. 7
Target Market Segment
Demographics
Our customers are in the age group
of 16-50, are of both sexes, and
have a household income of
$20,000 or greater.
Geographics
People that live in both urban and
suburban areas, and shop at stores
that are affordable to their budget.
Psychographics
People who like to reminisce on
significant moments, not tech
savvy and do not possess the
experience or skill to offer
themselves the services that we
can.
Buying Patterns
People that shop at stores that offer
discounts frequently, bargain
hunters, and consumers who are
considered “thrifty,” yet still care
deeply about the quality of the item
they are purchasing.
9. Promotional Mix
Advertising Google AdWords ($.10 PPC) / Facebook ($5) $150
Publicity Website ($5.95) / Facebook page ($0) /
Twitter page ($0)
$5.95
Sales
Promotion $0
Other
Networking with entrepreneurs in need of our
services, and with entrepreneurs in the same
field
$0
Total Monthly Promotional Expense $155.95
Promotional Expense
Monthly
Amount
─
10. Marketing Mix
People Product Place Price Promotion
Males and females
ages 16-50 who
need professional
results without the
hefty cost
Web advertisements,
social media, word-of-
mouth
Photographing
venues differ
according to the event
Professional
photography
services
$350 sitting fee,
$150 standard photo
package
11. Average Cost
of Materials/Labor
Materials
Material Description Cost/Total Quantity Cost per Unit
ISO 400 35mm film $15/5 rolls $1.50
Blank CDs $16/100 discs $.16
Canon Photo Papers $12/100 photo papers $.12
Average Total Material Cost per Unit $1.78
Labor
Labor Cost per Hour Time (in Hours) to
Make One Unit
Labor Cost per Unit
$10 2 hours $20
Total Labor Cost per Unit $20
COGS (per Unit) $21.78
12. Economics of One Unit
Selling Price (Sitting fee+Standard package) $500.00
COGS (per Unit) $21.78
Other Variable Expenses (per Unit) $25.00
Total Variable Expenses (per Unit) $46.78
Contribution Margin (per Unit) $453.22
Standard Event Package
(2 hour photo shoot, 50 hand-picked prints, CD with all photos)
13. Average Monthly
Fixed Expenses
Fixed Expense Average Monthly Expense
Insurance $50.00
Salaries of Employees $0
Advertising $155.95
Interest $0
Depreciation (equipment) $25.00
Utilities (Gas, Electric, Telephone) $50.00
Rent $0
Other Fixed Expenses $0
Total Average Monthly Fixed Expenses $280.95
14. Time-Management Plan
Schedule for a Typical Week
Total Hours in a Week = 168
0 20 40 60 80
School
New Business
Free Time
50
44
74
Hours
15. Monthly Sales Projections
First Year
0
2
4
6
8
10
12
14
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
UnitsSold
Total Units
Sold
70
16. Monthly Break-Even Units
In an average month, the company will begin
to make a profit after selling 1 unit.
$280.95
$453.22
= 1 Unit
17. Projected Yearly
Income Statement
First Year
A Selling Price per Unit $500.00 ─
B Number of Units Sold 70 ─
C Total Sales ─ $35,000.00
D Variable Expenses $3,274.60 ─
E Contribution Margin ─ $31,725.40
F Fixed Operating Expenses $3,371.40
G Pre-Tax Profit ─ $28,354.00
H Taxes @ 15% $4,253.10 ─
I Net Profit ─ $24,100.90
18. Start-Up Investment
Start-Up Expenditures
Item Where Will I Buy This? Cost
D-SLR camera w/ lens NikonUSA.com $700
Lighting set Amazon.com $150
White Muslin backdrop Amazon.com $100
Dell Desktop Dell.com $600
Software Adobe.com $700
Canon Printer/Scanner CanonUSA.com $1,107
Total Start-Up Expenditures $3357
Cash Reserves
Emergency Fund $200
Reserve for Fixed Expenses $1000
$4,557Total Start-Up Investment
19. ROS & ROI
ROS: Return on Sales
For opus|magnum:
Dollar
Equivalent =
ROI: Return on Investment
For opus|magnum:
Dollar
Equivalent =
$21,791.70
$31,500.00
x100 = 66%
$21,791.70
$4,457
x100 =489%
$0.66
$4.89
21. Philanthropy
opus|magnum will be socially promoting the “Peace One Day” foundation
by offering free photographic services to the organization, as well as
annually donating 5% of all profits to promote the cause.
22. Business
& Personal Goals
Expand our services throughout
the entire Hartford County.
Complete a digital editing, and
photography certification summer
course at CCSU.
Possibly hiring photo editors, allow
job internships/shadowing, and
open a photography studio.
Can grow to be established in many
states throughout the New England
region, and managed by a network
of experienced photographers
Personal Business
Graduate from high school, and
attain college degrees in the field of
business and photography .
Obtain an internship with world-
renowned photographer Philip-
Lorca diCorcia
Short-TermLong-Term
Run the business steadily for
about 10 years, sell the company,
then move on to other business
ventures.
Develop our interpersonal skills,
and ability to manage
finances/companies.
