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1
Executive Summary
Kevina Warner is a student of the division of Technical Vocation Education who wants to make a
business soon as she finishes college. Kevina started StarPlus Studios because she has experience
in the field of photography and wants to pursue a photography and video editing business. She has
three years of experience with taking photos and capturing special moments of people’s lives.
Above all she is going to create exceptional customer service with clients and supply them by
meeting their needs and wants.
Kevina decided to create the idea of StarPlus Studios because she has a passion for photography,
photo editing/enhancements and video editing as well. Kevina and her sister would prepare video
presentations for their local church, school events or projects and an occasional weddings. She
believes that her business will succeed because many photography businesses in St. Vincent rarely
do videos or graphic designs, and Starplus incorporates all three elements of design, ranging from
photography to videos, to personalized t-shirts and other forms of graphic design.
Kevina will proceed to borrow a loan from the First Caribbean international Bank of ten thousand
dollars to start up her business so that she can buy all the equipment that the business needs such
as cameras, videos cameras, computer, printers and scanners.
StarPlus’s will grow at an annual rate of over 40 percent by targeting families of professionals
with newborn babies for baby pictures and then developing a relationship with the client over the
years for ongoing photographs. The funding requested in this plan is projected to see comfortable
annual net profit by Year 3.
This photography business plan shows how StarPlus Studio will meet the needs of persons and
their families to capture the special moments in their lives and present them in the best light. We
will establish a relationship in which we initiate the calls to keep their photos up to date. Digital
files of their photos will be available for free by e-mail, or with a nominal fee for DVD. Because
of our relationship with the families, when something big like a wedding comes, there's no place
else they would go.
The opening of StarPlus Studio will mark a change in the way professional photography is
delivered. Rather than being a rare place to visit, this photo studio will be a fun part of a family's
lives, helping them capture special moments and share them in a digital work.
2
General Company Description
Mission Statement
.StarPlus Studios is about taking professional high quality products such as photographs, videos
and graphic design easily available in a variety of formats. StarPlus Studios will achieve this by
using a pricing structure that makes our digital photographs a house staple and by making it fun
for them to patronize the business or to have us in their homes.
Business Philosophy
The name of the business is StarPlus Studios. StarPlus Studios is a business that is about doing
photography and Video Editing that helps clients to preserve memories and portray themselves in
the best light. The business seeks to provide potential clients with excellent services in
photography, a variety of graphic designs and video editing.
The ownership of the business is going to be a Sole Proprietorship. The services consist of taking
photos and editing pictures into greater imagination, and making and recording videos for special
occasions, for example weddings, birthday parties and funerals.
The philosophy is to keep our clients satisfied by giving excellent results via our services. The
services must be up to standard with the needs of our clients. StarPlus believes that photography,
graphic design and video editing all share a common ground of creativity and passion. Kevina
Warner nineteen years old owner of StarPlus Studios decides she wants to make her business grow
and hopes to expand in countries.
3
Company Goals and Objectives
In addition to livelihood, Starplus Studios are in this business for the enjoyment of photography,
video editing and graphic design and having fun with people. Starplus Studios want to keep it
simple.
Objectives are:
 To generate a comfortable net profit by the third year.
 To develop systems of production for each product category that is easy to replicate with
new clients to keep it simple and fun.
 To have a client relationship system and call plan that will keep us on top of each of our
client's scheduled needs at all times.
Legal form of ownership
StarPlus Studios is going to be a Sole proprietorship owned by Kevina Warner. It will be open in
a leased space of 800 square foot studio in Egmont Street at first floor offices in Kingstown
opposite singer and the Bounty Restaurant.
Kevina Warner is a graduate of Bethel High School in St. Vincent and is currently a student in the
St. Vincent and the Grenadines Community College Division of Technical Vocational Education
and is in her last year of receiving her Associate Degree in Small Business Management. She
obtained 10 CXC subjects which a majority are business subjects and in her spare time she likes
to design and enhance photos, mostly using Photoshop, Coral etc. She has 6 years of experience
capturing the special moments of people's lives.
The owner of StarPlus Studios Kevina Warner is currently obtaining several diplomas online in
courses such as leadership of a business, characteristics of an entrepreneur and fundamentals of
business law which will help her on her journey to becoming a successful and competent
entrepreneur.
4
Brief description of the services
The services of the StarPlus Studios are going to be providing a variety of services. StarPlus
Studios is in business to cover events and special occasions on a freelance basis. What we will be
providing is an alternative solution for video companies or out of town television stations. Instead
of them sending a crew or taking time out of their busy schedules, they can hire us to do the filming
for them. This gives them the opportunity to focus on their core competencies.
We will attend any and every event that we will have to cover for our customer. Using our
experience, we will find a strategic location from which we will film. Once the filming is complete,
we will then deliver the tape to the customer
Kevina Warner will be the sole photographer, manager and administrator. Photographer’s
Assistants will be hired on a contract basis. Currently, the majority of the administrative tasks are
organized using NSCS Pro 3.0, a computer program designed specifically for photographic
businesses. The software organizes client bases, inventory, images, invoices and financial
statements to name a few. We will also be purchasing QuickBooks Pro. For the business to handle
the more detailed accounting.
Product or Services
Services
StarPlus studios will be providing to the general public is whole list of varieties of services coming
their way, once they got a taste of StarPlus studios.
Service Description
The Services include:
High School Senior Yearbook Portraits
Senior pictures are a long-standing tradition that brings high school seniors into photo studios. By
making these photos easily accessible in digital form, and by marketing prominently on the
Internet, we hope to capture much of this market.
We offer a special package of a family portrait at half price with the senior picture. It is often the
parents who are paying for the senior portrait, so we want to establish a relationship with the
parents. The parents will want a picture of their senior with the rest of the family. This introduction
to the family will allow us to market our other services.
5
Family and Pet Portraits
Portraits of the entire family are needed for display, to send to relatives and to use in family
newsletters and websites. Most families have pets, and we can arrange family portraits that include
them. While StarPlus Studios do not specialize in pet portraits, there will be have props and will
take stand-alone photos of pets as well.
Individual Portraits
Individual portraits are commonly needed for individual and business websites, business cards,
brochures and annual reports.
Model’s Portfolio and Glamour Shots
Photos suitable for magazine publication.
Wedding Album
Weddings are one of the most special moments of life. StarPlus Studios wedding album includes
up to 7 hours of wedding photography, with prints displayed in a custom photo album and digital
images on CD.
Video recording and editing
StarPlus Studios record videos for weddings, funerals, baby showers etc. they spend as long as the
family wants to capture every precious moment. Recording are then edited according to client’s
needs and then encrypted onto DVDs or device of client’s choice .Clients can also bring us their
videos and StarPlus will use modern video productions programs to edit them swiftly and
successfully.
How will the Services would be priced?
Starplus Studios prices are competitive with other high-quality professional photographers in the
area, but the difference is Starplus will charge a session fee and always charge up front when
making the session reservation. This means the clients are serious and aren’t going to take up half
a day on Starplus Studios calendar and the services would be price on editing, the type of editing
done to a picture or video the design of the picture it depends on the photo sessions and the hour
on which will take to edit them and taking photos too at the session. Starplus Studios will also
have policy when their customers taking photos which will have them to wear solid colors or denim
and khakis which are excellent choices for outdoor photos and not have to wear clothing with large
logos or wording these can distract the photograph.
6
Marketing Analysis
Families with children are the biggest market for portraits. For the purpose of this analysis, these
families are divided into three socio-economic categories:
 College graduates
 High school graduates
 Non-graduates
Families of college graduates are most likely to be professionals and to have the means and the
taste for professional portraits. Starplus Studios will target female professionals and wives of
professionals, because women make the majority of purchasing decisions in these families. The
competitive environment is divided between luxury magazine-quality photographers, moderate
professional photographers who mostly pose their subjects, and same-day photo studios. The
trend among Starplus Studios targeted consumers is toward more digital photography and more
sending of digital images on the Internet. As the world becomes more technical, people need
more personal support. Starplus Studios will use a "high-tech, high-touch" approach to reach and
retain clients for their ongoing photo needs. Starplus Studios will make it affordable and easy
for them to broadcast their photos electronically
Providing my customers of what they desired making identification cards, passport pictures,
credits cards. StarPlus Studios going to provide store and choices of different options in store.
This means different options provided for the customer when selecting what kind designs or
effects do they want for their pictures for instance backgrounds for the pictures it could be
Valentine’s Day, Christmas day themes for their background for their photographs or videos
what kind of music would they want for the videos .It could be a anniversary videos they might
want or a birthday party videos for their kids either one they are still options for what kind of
music would they want ,special effects (transitions. Text, video effects) added to their video.
7
Potential Growth
Businesses usually start as small individual units and expand to large enterprises. Although there are many
benefits to expansion the best size for a firm may depend on the nature of the market and the ratio of capital
to labor that makes production efficient. There is potential to expand our business within St. Vincent in
terms of profits being made and employing more machines. The low costs of the possible locations may
lead to bigger profits, which is the reward to the entrepreneur, therefore our business can be set up in an
area/ location where it is believed costs will be low. Which is a possible future endeavor to set up more
stores on the island. We will be able to expand the initial operation by 50 percent in our existing building
if the demand for our services sufficient. In deciding whether to expand, the main consideration will be our
essential of growth potential in our sales.
The reasonwhy customerswill patronize the business instead of the competition is because StarPlus Studios
business will be different from the competitions. Since StarPlus offer different services in their business
such as video editing programs put in special effects in videos to make them look futuristic and awesome
design T- shirts to promote clubs in SVGor promote parties by using the party logo and do photo shoots of
magazine covers like one of St. Vincent magazine Vincy e-zine.
Customers
Customers is defined as any individual or organization that has need for the one of the services we provide
.Our target Customers are as follows.
 High Schools-People who wants to have pictures or videos of their proms or school events.
 Future Brides and grooms-Persons who wished to get married in the future and wants their pictures
be taken or maybe yet could call us and ask us to make a nice wedding videos.
 Families- Some families may want to capture specialfamily moments or maybe portraits of a family
reunion or a family picnic so they hang up in their house to reminisce family memoires and preserve
memoirs in their homes.
8
Promotional Plan
The promotional plan of the business is going to be about promoting it on the web via social media
first StarPlus Studios is going to have its own website and create a twitter page and Facebook page
for their customers in order to contact them and interact with them about the business .StarPlus
Studios is going to use social media to promote their business on the web to make events like
shows for instance a fashion shows or charity events to get their customers attention. StarPlus
Studios will be providing gifts or prizes for their customers whenever a customer purchase a
package from a service for instance a wedding photos from a wedding packages. StarPlus Studios
will also be providing galleries, contest and offer samples to their clients.
Operational plan
Production.
In StarPlus Studios we are planning to a primary business. The services are to satisfy customers’ needs and
wants in order to so we need to make more persuade ads online to the audience attention in order for them
to like our services We’re using primary production which is also known as the services sector and can be
seen as a link between the manufacturer and consumers. StarPlus studios are to expect to be open at the
hours of 8 o’clock in the morning and 4 in the evening to be closed, this business is going to be seasonal
business we are open in the holidays like Christmas seasons and also Easter vacations.
Suppliers
StarPlus Studios will be getting their products such as cameras, video cameras, lights, background
from our local suppliers such as purchasing on the web care about our community. We use only
local suppliers who have a reputation for excellence and timeliness; thus, StarPlus Studios add
back to the economy of the area. StarPlus Studios employs local vendors who have the same desire
to be the best at what they do. Through the use of reliable local vendors, they are able to reduce
the cost of supplies and offer more services to the client. They use only Nikon Coolpix L840
(black) which is processed by Nikon Corporation .Nikon Corporation deals only with professional
photographers and offers the latest in photo finishes and portrait sizes By using the services Nikon
Corporation, StarPlus Studios is able to reduce the need for additional personnel, expensive
photographic laboratory equipment and supplies, thus minimizing their start-up cost . This saving
trickles down to the client in their portrait-package pricing. At StarPlus Studios, they concentrate
on the artistic and high quality of the portrait image; they leave the enhancement of that image to
the taste of the client and the professionals at Nikon Corporation.
9
Company Location
We will open in an 800 square-foot studio at Egmont Main Street. The space will be leased for three years
beginning at $800 a month with cost-of-living adjustments made annually. The studio will have a highly
visible electric sign and a 20-foot wide display window visible to passing foot and auto traffic. Customers
will enter a public area with a counter, samples of our photographs and albums, and couches for waiting.
An office and working area will be used for assembling the final product. The reason why StarPlus choose
this location because the office is equipped with the latest in business technology: telephone systems,
computers, fax machines, email, copiers, printers, and software. The company will maintain a high degree
of professionalism by using only the highest-quality photographic equipment and film to produce its
portraits.
Describe the features of the benefits of the services
The features of StarPlus studios are to produce high quality photos and videos .In StarPlus Studios
business it will keep their customers focused on their promotional material because people find
StarPlus studios pictures interesting .This provides their company with a unique way to attract
client attention, thus may increase future sales. And how will it benefit them because when people
are in need of help such as promotional methods.
Market Segmentation
The breakdown for the market for photography and video editing is somewhat diverse, as are the
service designed to meet those needs. Individuals, as well as organizations, require the services
that we provide. In order to provide the greatest depth, the market segments have been broken
down into private organizations and individuals stratified by age groups.
10
Competitive Edge
StarPlus Studio’s competitive edge is its commitment to customer service and satisfaction. They
offer a collection of services, flexible scheduling, and have the latest technology to produce
beautiful photographic portraits. At StarPlus Studios they offers a variety of services such as baby
pictures, wedding albums ,graphic design and video editing they understand customers and how
to get the right elements together for a successful portrait session. They are patient, and their
number one goal is quality results.
11
Management and Organization
Organizational Chart
Manager
Supervisor (2)
Photographer
(2) full time
Graphic
Designers (2)
part time
Janitor (1)
Part time
Security (1)
full time
12
Financal Plan
The break-even point for StarPlus studios is based on the assumption that we will produce 128 units per
month and average approximately $23.76 per unit, for a total monthly sales break-even of $3,043. This
should be attained by the third month of business and meet every month of the first year except for January,
which is expected to be the slowest month of the year, since this is the post-holiday slump. The break-even
point will appear more rapidly for StarPlus Studios than for other types of home-based businesses since
start-up costs are limited and there is little to no staff to pay in the beginning.
Break-even Analysis
Monthly Units Break-even $ 128
Monthly Revenue Break-even $3,043
Assumptions:
Average Per-Unit Revenue $ 24
Average Per-Unit Variable Cost $ 7
Estimated Monthly Fixed Cost $2,109
13
Projected Profit and Loss
StarPlus studios expects a 15% annual growth rate for the first three years due to the owner's already
established reputation and contacts. Overhead is expected to be stable, with the exception of the
receptionist/photographer's assistant becoming a full-time position in fiscal year 2017. This allows a
predicted 20 percent increase in profits before interest and taxes in the second year of business; this figure
remains stable evenwith the increase in personnel expense the third year.It should be noted that the owner's
salary will be taken out of this figure.
Profit and Loss
2017 2018 2019
Sales
$
88,250
$
101,488
$
116,711
Cost of Goods Sold
$
27,105
$
31,171
$
35,846
Gross Profit
$
61,145
$
70,317
$
80,864
Gross Profit% 69.28% 79.67% 91.62%
Expenses:
SalesandMarketingand Other
Expenses
$
9,900
$
11,286
$
12,527
Depreciation
$
2,004
$
2,305
$
2,650
Utilities
$
600
$
690
$
794
Insurance
$
1,800
$
1,800
$
1,800
Rent
$
800
$
800
$
800
Total Operating Expenses
$
15,104
$
16,881
$
18,571
ProfitBefore InterestandTaxes
$
46,041
$
52,947
$
60,889
InterestExpense
$
696
$
800
$
920
TaxesIncurred
$
11,482
$
13,204
$
15,185
NetProfit
$
33,663
$
38,712
$
44,519
NetProfit/Sales 38.37% 44.13% 50.74%
14
Our cashsituation is optimum. Although StarPlus studios begins with little extra cash,our increased growth
allows the business to gain financial ground quickly. The cash flow is negative for only two months of the
first year, during the expected off-season months; the business will be prepared for this with cash reserves,
and will maintain positive cash balances.
Cash
Forma Cash Flow
Cash Received 2017 2018 2019
Cash from Operations:
Cash Sales $88,250 $101,488 $116,711
Subtotal CashfromOperations $88,250 $101,488 $116,711
Additional Cash Received
New InvestmentReceived $1,200 $1,380 $1,587
Subtotal Cash Received $177,700 $204,355 $235,008
Expenditures 2017 2018 2019
ExpendituresfromOperations:
Cash Spending $4,874 $5,605 $6,446
Paymentof AccountsPayable $44,475 $51,146 $58,818
Subtotal SpentonOperations $49,350 $56,753 $65,265
Additional Cash Spent
Principal Repaymentof CurrentBorrowing $2,400 $2,760 $3,174
Subtotal CashSpent $51,750 $59,513 $68,439
NetCash Flow $37,700 $43,355 $49,858
Cash Balance $140,000 $161,000 $185,150
Projected Cash Flow
15
StarPlus studios is set up for business. According to the numbers, there is steady accumulation of cash and
assets. Accounts payable remain stable. No major capital investments are expected throughout the early
years,so the liabilities remain limited. Net worth steadily grows.
Balance Sheet
Assets
Current Assets 2017 2018 2019
Cash $51,200 $58,880 $142,180
Inventory $1,355 $1,558 $142,181
OtherCurrentAssets $10,000 $11,500 $142,182
Total CurrentAssets $62,555 $71,938 $426,543
Long-termAssets
AccumulatedDepreciation $2,004 $2,305 $2,650
Total Long-termAssets ($2,004) ($2,305) ($2,650)
Total Assets $60,551 $69,634 $423,893
LiabilitiesandCapital
Current Liabilities 2017 2018 2019
AccountsPayable $2,088 $2,401 $2,761
CurrentBorrowing $7,600 $8,740 $10,051
Subtotal CurrentLiabilities $9,688 $11,141 $12,812
Long-termLiabilities
Total Liabilities $9,688 $11,141 $12,812
Paid-inCapital $23,550 $23,550 $23,550
Total Capital $50,863 $58,492 $411,080
Total LiabilitiesandCapital $60,551 $69,634 $423,893
16
NetWorth $50,863 $58,492 $411,080
Start-up Summary
Start-up
Start-up
Requirements
Start-upExpenses
Legal $ 750
Stationeryetc. $ 300
Brochures $ 2,000
Consultants $ 1,000
Insurance $ 1,300
Rent $ 800
Expensedequipment $ 2,000
Total Start-upExpenses $ 8,150
Start-upAssetsNeeded
Cash Balance onStartingDate $ 13,500
Start-upInventory $ 1,500
OtherCurrentAssets $ 10,000
Total Current Assets $ 25,000
Long-termAssets
Total Assets $ 25,000
Total Requirements $ 32,350
Funding
Current Liabilities
CurrentBorrowing $ 10,000
CurrentLiabilities $ 10,000
Total Liabilities $ 10,000
Loss at Start-up $ (7,350)
17
Marketing expenses budget
Printed material business related Year 1 Year 2 Year 3
$225 $125 $150
Total sales and marketing expenses $225 $525 $550
Portrait of sales 10.89% 13.67% 10.60%
Marketing Expenses Budget
Since StarPlus Studios is not doing the printing for most of their products, the marketing expenses
are fairly low throughout the year. At the beginning and end of each year the expenses will be
increased due to the stationary and business card’s needs .In the second year a direct mail
campaign will also have a marketing cost for the printing and design of that campaign.
Total Capital $ 15,000
Total Capital and Liabilities $ 25,000
18
Appendices
Brochures
19
Business Card
20

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Executive Summary

  • 1. 1 Executive Summary Kevina Warner is a student of the division of Technical Vocation Education who wants to make a business soon as she finishes college. Kevina started StarPlus Studios because she has experience in the field of photography and wants to pursue a photography and video editing business. She has three years of experience with taking photos and capturing special moments of people’s lives. Above all she is going to create exceptional customer service with clients and supply them by meeting their needs and wants. Kevina decided to create the idea of StarPlus Studios because she has a passion for photography, photo editing/enhancements and video editing as well. Kevina and her sister would prepare video presentations for their local church, school events or projects and an occasional weddings. She believes that her business will succeed because many photography businesses in St. Vincent rarely do videos or graphic designs, and Starplus incorporates all three elements of design, ranging from photography to videos, to personalized t-shirts and other forms of graphic design. Kevina will proceed to borrow a loan from the First Caribbean international Bank of ten thousand dollars to start up her business so that she can buy all the equipment that the business needs such as cameras, videos cameras, computer, printers and scanners. StarPlus’s will grow at an annual rate of over 40 percent by targeting families of professionals with newborn babies for baby pictures and then developing a relationship with the client over the years for ongoing photographs. The funding requested in this plan is projected to see comfortable annual net profit by Year 3. This photography business plan shows how StarPlus Studio will meet the needs of persons and their families to capture the special moments in their lives and present them in the best light. We will establish a relationship in which we initiate the calls to keep their photos up to date. Digital files of their photos will be available for free by e-mail, or with a nominal fee for DVD. Because of our relationship with the families, when something big like a wedding comes, there's no place else they would go. The opening of StarPlus Studio will mark a change in the way professional photography is delivered. Rather than being a rare place to visit, this photo studio will be a fun part of a family's lives, helping them capture special moments and share them in a digital work.
  • 2. 2 General Company Description Mission Statement .StarPlus Studios is about taking professional high quality products such as photographs, videos and graphic design easily available in a variety of formats. StarPlus Studios will achieve this by using a pricing structure that makes our digital photographs a house staple and by making it fun for them to patronize the business or to have us in their homes. Business Philosophy The name of the business is StarPlus Studios. StarPlus Studios is a business that is about doing photography and Video Editing that helps clients to preserve memories and portray themselves in the best light. The business seeks to provide potential clients with excellent services in photography, a variety of graphic designs and video editing. The ownership of the business is going to be a Sole Proprietorship. The services consist of taking photos and editing pictures into greater imagination, and making and recording videos for special occasions, for example weddings, birthday parties and funerals. The philosophy is to keep our clients satisfied by giving excellent results via our services. The services must be up to standard with the needs of our clients. StarPlus believes that photography, graphic design and video editing all share a common ground of creativity and passion. Kevina Warner nineteen years old owner of StarPlus Studios decides she wants to make her business grow and hopes to expand in countries.
  • 3. 3 Company Goals and Objectives In addition to livelihood, Starplus Studios are in this business for the enjoyment of photography, video editing and graphic design and having fun with people. Starplus Studios want to keep it simple. Objectives are:  To generate a comfortable net profit by the third year.  To develop systems of production for each product category that is easy to replicate with new clients to keep it simple and fun.  To have a client relationship system and call plan that will keep us on top of each of our client's scheduled needs at all times. Legal form of ownership StarPlus Studios is going to be a Sole proprietorship owned by Kevina Warner. It will be open in a leased space of 800 square foot studio in Egmont Street at first floor offices in Kingstown opposite singer and the Bounty Restaurant. Kevina Warner is a graduate of Bethel High School in St. Vincent and is currently a student in the St. Vincent and the Grenadines Community College Division of Technical Vocational Education and is in her last year of receiving her Associate Degree in Small Business Management. She obtained 10 CXC subjects which a majority are business subjects and in her spare time she likes to design and enhance photos, mostly using Photoshop, Coral etc. She has 6 years of experience capturing the special moments of people's lives. The owner of StarPlus Studios Kevina Warner is currently obtaining several diplomas online in courses such as leadership of a business, characteristics of an entrepreneur and fundamentals of business law which will help her on her journey to becoming a successful and competent entrepreneur.
  • 4. 4 Brief description of the services The services of the StarPlus Studios are going to be providing a variety of services. StarPlus Studios is in business to cover events and special occasions on a freelance basis. What we will be providing is an alternative solution for video companies or out of town television stations. Instead of them sending a crew or taking time out of their busy schedules, they can hire us to do the filming for them. This gives them the opportunity to focus on their core competencies. We will attend any and every event that we will have to cover for our customer. Using our experience, we will find a strategic location from which we will film. Once the filming is complete, we will then deliver the tape to the customer Kevina Warner will be the sole photographer, manager and administrator. Photographer’s Assistants will be hired on a contract basis. Currently, the majority of the administrative tasks are organized using NSCS Pro 3.0, a computer program designed specifically for photographic businesses. The software organizes client bases, inventory, images, invoices and financial statements to name a few. We will also be purchasing QuickBooks Pro. For the business to handle the more detailed accounting. Product or Services Services StarPlus studios will be providing to the general public is whole list of varieties of services coming their way, once they got a taste of StarPlus studios. Service Description The Services include: High School Senior Yearbook Portraits Senior pictures are a long-standing tradition that brings high school seniors into photo studios. By making these photos easily accessible in digital form, and by marketing prominently on the Internet, we hope to capture much of this market. We offer a special package of a family portrait at half price with the senior picture. It is often the parents who are paying for the senior portrait, so we want to establish a relationship with the parents. The parents will want a picture of their senior with the rest of the family. This introduction to the family will allow us to market our other services.
  • 5. 5 Family and Pet Portraits Portraits of the entire family are needed for display, to send to relatives and to use in family newsletters and websites. Most families have pets, and we can arrange family portraits that include them. While StarPlus Studios do not specialize in pet portraits, there will be have props and will take stand-alone photos of pets as well. Individual Portraits Individual portraits are commonly needed for individual and business websites, business cards, brochures and annual reports. Model’s Portfolio and Glamour Shots Photos suitable for magazine publication. Wedding Album Weddings are one of the most special moments of life. StarPlus Studios wedding album includes up to 7 hours of wedding photography, with prints displayed in a custom photo album and digital images on CD. Video recording and editing StarPlus Studios record videos for weddings, funerals, baby showers etc. they spend as long as the family wants to capture every precious moment. Recording are then edited according to client’s needs and then encrypted onto DVDs or device of client’s choice .Clients can also bring us their videos and StarPlus will use modern video productions programs to edit them swiftly and successfully. How will the Services would be priced? Starplus Studios prices are competitive with other high-quality professional photographers in the area, but the difference is Starplus will charge a session fee and always charge up front when making the session reservation. This means the clients are serious and aren’t going to take up half a day on Starplus Studios calendar and the services would be price on editing, the type of editing done to a picture or video the design of the picture it depends on the photo sessions and the hour on which will take to edit them and taking photos too at the session. Starplus Studios will also have policy when their customers taking photos which will have them to wear solid colors or denim and khakis which are excellent choices for outdoor photos and not have to wear clothing with large logos or wording these can distract the photograph.
  • 6. 6 Marketing Analysis Families with children are the biggest market for portraits. For the purpose of this analysis, these families are divided into three socio-economic categories:  College graduates  High school graduates  Non-graduates Families of college graduates are most likely to be professionals and to have the means and the taste for professional portraits. Starplus Studios will target female professionals and wives of professionals, because women make the majority of purchasing decisions in these families. The competitive environment is divided between luxury magazine-quality photographers, moderate professional photographers who mostly pose their subjects, and same-day photo studios. The trend among Starplus Studios targeted consumers is toward more digital photography and more sending of digital images on the Internet. As the world becomes more technical, people need more personal support. Starplus Studios will use a "high-tech, high-touch" approach to reach and retain clients for their ongoing photo needs. Starplus Studios will make it affordable and easy for them to broadcast their photos electronically Providing my customers of what they desired making identification cards, passport pictures, credits cards. StarPlus Studios going to provide store and choices of different options in store. This means different options provided for the customer when selecting what kind designs or effects do they want for their pictures for instance backgrounds for the pictures it could be Valentine’s Day, Christmas day themes for their background for their photographs or videos what kind of music would they want for the videos .It could be a anniversary videos they might want or a birthday party videos for their kids either one they are still options for what kind of music would they want ,special effects (transitions. Text, video effects) added to their video.
  • 7. 7 Potential Growth Businesses usually start as small individual units and expand to large enterprises. Although there are many benefits to expansion the best size for a firm may depend on the nature of the market and the ratio of capital to labor that makes production efficient. There is potential to expand our business within St. Vincent in terms of profits being made and employing more machines. The low costs of the possible locations may lead to bigger profits, which is the reward to the entrepreneur, therefore our business can be set up in an area/ location where it is believed costs will be low. Which is a possible future endeavor to set up more stores on the island. We will be able to expand the initial operation by 50 percent in our existing building if the demand for our services sufficient. In deciding whether to expand, the main consideration will be our essential of growth potential in our sales. The reasonwhy customerswill patronize the business instead of the competition is because StarPlus Studios business will be different from the competitions. Since StarPlus offer different services in their business such as video editing programs put in special effects in videos to make them look futuristic and awesome design T- shirts to promote clubs in SVGor promote parties by using the party logo and do photo shoots of magazine covers like one of St. Vincent magazine Vincy e-zine. Customers Customers is defined as any individual or organization that has need for the one of the services we provide .Our target Customers are as follows.  High Schools-People who wants to have pictures or videos of their proms or school events.  Future Brides and grooms-Persons who wished to get married in the future and wants their pictures be taken or maybe yet could call us and ask us to make a nice wedding videos.  Families- Some families may want to capture specialfamily moments or maybe portraits of a family reunion or a family picnic so they hang up in their house to reminisce family memoires and preserve memoirs in their homes.
  • 8. 8 Promotional Plan The promotional plan of the business is going to be about promoting it on the web via social media first StarPlus Studios is going to have its own website and create a twitter page and Facebook page for their customers in order to contact them and interact with them about the business .StarPlus Studios is going to use social media to promote their business on the web to make events like shows for instance a fashion shows or charity events to get their customers attention. StarPlus Studios will be providing gifts or prizes for their customers whenever a customer purchase a package from a service for instance a wedding photos from a wedding packages. StarPlus Studios will also be providing galleries, contest and offer samples to their clients. Operational plan Production. In StarPlus Studios we are planning to a primary business. The services are to satisfy customers’ needs and wants in order to so we need to make more persuade ads online to the audience attention in order for them to like our services We’re using primary production which is also known as the services sector and can be seen as a link between the manufacturer and consumers. StarPlus studios are to expect to be open at the hours of 8 o’clock in the morning and 4 in the evening to be closed, this business is going to be seasonal business we are open in the holidays like Christmas seasons and also Easter vacations. Suppliers StarPlus Studios will be getting their products such as cameras, video cameras, lights, background from our local suppliers such as purchasing on the web care about our community. We use only local suppliers who have a reputation for excellence and timeliness; thus, StarPlus Studios add back to the economy of the area. StarPlus Studios employs local vendors who have the same desire to be the best at what they do. Through the use of reliable local vendors, they are able to reduce the cost of supplies and offer more services to the client. They use only Nikon Coolpix L840 (black) which is processed by Nikon Corporation .Nikon Corporation deals only with professional photographers and offers the latest in photo finishes and portrait sizes By using the services Nikon Corporation, StarPlus Studios is able to reduce the need for additional personnel, expensive photographic laboratory equipment and supplies, thus minimizing their start-up cost . This saving trickles down to the client in their portrait-package pricing. At StarPlus Studios, they concentrate on the artistic and high quality of the portrait image; they leave the enhancement of that image to the taste of the client and the professionals at Nikon Corporation.
  • 9. 9 Company Location We will open in an 800 square-foot studio at Egmont Main Street. The space will be leased for three years beginning at $800 a month with cost-of-living adjustments made annually. The studio will have a highly visible electric sign and a 20-foot wide display window visible to passing foot and auto traffic. Customers will enter a public area with a counter, samples of our photographs and albums, and couches for waiting. An office and working area will be used for assembling the final product. The reason why StarPlus choose this location because the office is equipped with the latest in business technology: telephone systems, computers, fax machines, email, copiers, printers, and software. The company will maintain a high degree of professionalism by using only the highest-quality photographic equipment and film to produce its portraits. Describe the features of the benefits of the services The features of StarPlus studios are to produce high quality photos and videos .In StarPlus Studios business it will keep their customers focused on their promotional material because people find StarPlus studios pictures interesting .This provides their company with a unique way to attract client attention, thus may increase future sales. And how will it benefit them because when people are in need of help such as promotional methods. Market Segmentation The breakdown for the market for photography and video editing is somewhat diverse, as are the service designed to meet those needs. Individuals, as well as organizations, require the services that we provide. In order to provide the greatest depth, the market segments have been broken down into private organizations and individuals stratified by age groups.
  • 10. 10 Competitive Edge StarPlus Studio’s competitive edge is its commitment to customer service and satisfaction. They offer a collection of services, flexible scheduling, and have the latest technology to produce beautiful photographic portraits. At StarPlus Studios they offers a variety of services such as baby pictures, wedding albums ,graphic design and video editing they understand customers and how to get the right elements together for a successful portrait session. They are patient, and their number one goal is quality results.
  • 11. 11 Management and Organization Organizational Chart Manager Supervisor (2) Photographer (2) full time Graphic Designers (2) part time Janitor (1) Part time Security (1) full time
  • 12. 12 Financal Plan The break-even point for StarPlus studios is based on the assumption that we will produce 128 units per month and average approximately $23.76 per unit, for a total monthly sales break-even of $3,043. This should be attained by the third month of business and meet every month of the first year except for January, which is expected to be the slowest month of the year, since this is the post-holiday slump. The break-even point will appear more rapidly for StarPlus Studios than for other types of home-based businesses since start-up costs are limited and there is little to no staff to pay in the beginning. Break-even Analysis Monthly Units Break-even $ 128 Monthly Revenue Break-even $3,043 Assumptions: Average Per-Unit Revenue $ 24 Average Per-Unit Variable Cost $ 7 Estimated Monthly Fixed Cost $2,109
  • 13. 13 Projected Profit and Loss StarPlus studios expects a 15% annual growth rate for the first three years due to the owner's already established reputation and contacts. Overhead is expected to be stable, with the exception of the receptionist/photographer's assistant becoming a full-time position in fiscal year 2017. This allows a predicted 20 percent increase in profits before interest and taxes in the second year of business; this figure remains stable evenwith the increase in personnel expense the third year.It should be noted that the owner's salary will be taken out of this figure. Profit and Loss 2017 2018 2019 Sales $ 88,250 $ 101,488 $ 116,711 Cost of Goods Sold $ 27,105 $ 31,171 $ 35,846 Gross Profit $ 61,145 $ 70,317 $ 80,864 Gross Profit% 69.28% 79.67% 91.62% Expenses: SalesandMarketingand Other Expenses $ 9,900 $ 11,286 $ 12,527 Depreciation $ 2,004 $ 2,305 $ 2,650 Utilities $ 600 $ 690 $ 794 Insurance $ 1,800 $ 1,800 $ 1,800 Rent $ 800 $ 800 $ 800 Total Operating Expenses $ 15,104 $ 16,881 $ 18,571 ProfitBefore InterestandTaxes $ 46,041 $ 52,947 $ 60,889 InterestExpense $ 696 $ 800 $ 920 TaxesIncurred $ 11,482 $ 13,204 $ 15,185 NetProfit $ 33,663 $ 38,712 $ 44,519 NetProfit/Sales 38.37% 44.13% 50.74%
  • 14. 14 Our cashsituation is optimum. Although StarPlus studios begins with little extra cash,our increased growth allows the business to gain financial ground quickly. The cash flow is negative for only two months of the first year, during the expected off-season months; the business will be prepared for this with cash reserves, and will maintain positive cash balances. Cash Forma Cash Flow Cash Received 2017 2018 2019 Cash from Operations: Cash Sales $88,250 $101,488 $116,711 Subtotal CashfromOperations $88,250 $101,488 $116,711 Additional Cash Received New InvestmentReceived $1,200 $1,380 $1,587 Subtotal Cash Received $177,700 $204,355 $235,008 Expenditures 2017 2018 2019 ExpendituresfromOperations: Cash Spending $4,874 $5,605 $6,446 Paymentof AccountsPayable $44,475 $51,146 $58,818 Subtotal SpentonOperations $49,350 $56,753 $65,265 Additional Cash Spent Principal Repaymentof CurrentBorrowing $2,400 $2,760 $3,174 Subtotal CashSpent $51,750 $59,513 $68,439 NetCash Flow $37,700 $43,355 $49,858 Cash Balance $140,000 $161,000 $185,150 Projected Cash Flow
  • 15. 15 StarPlus studios is set up for business. According to the numbers, there is steady accumulation of cash and assets. Accounts payable remain stable. No major capital investments are expected throughout the early years,so the liabilities remain limited. Net worth steadily grows. Balance Sheet Assets Current Assets 2017 2018 2019 Cash $51,200 $58,880 $142,180 Inventory $1,355 $1,558 $142,181 OtherCurrentAssets $10,000 $11,500 $142,182 Total CurrentAssets $62,555 $71,938 $426,543 Long-termAssets AccumulatedDepreciation $2,004 $2,305 $2,650 Total Long-termAssets ($2,004) ($2,305) ($2,650) Total Assets $60,551 $69,634 $423,893 LiabilitiesandCapital Current Liabilities 2017 2018 2019 AccountsPayable $2,088 $2,401 $2,761 CurrentBorrowing $7,600 $8,740 $10,051 Subtotal CurrentLiabilities $9,688 $11,141 $12,812 Long-termLiabilities Total Liabilities $9,688 $11,141 $12,812 Paid-inCapital $23,550 $23,550 $23,550 Total Capital $50,863 $58,492 $411,080 Total LiabilitiesandCapital $60,551 $69,634 $423,893
  • 16. 16 NetWorth $50,863 $58,492 $411,080 Start-up Summary Start-up Start-up Requirements Start-upExpenses Legal $ 750 Stationeryetc. $ 300 Brochures $ 2,000 Consultants $ 1,000 Insurance $ 1,300 Rent $ 800 Expensedequipment $ 2,000 Total Start-upExpenses $ 8,150 Start-upAssetsNeeded Cash Balance onStartingDate $ 13,500 Start-upInventory $ 1,500 OtherCurrentAssets $ 10,000 Total Current Assets $ 25,000 Long-termAssets Total Assets $ 25,000 Total Requirements $ 32,350 Funding Current Liabilities CurrentBorrowing $ 10,000 CurrentLiabilities $ 10,000 Total Liabilities $ 10,000 Loss at Start-up $ (7,350)
  • 17. 17 Marketing expenses budget Printed material business related Year 1 Year 2 Year 3 $225 $125 $150 Total sales and marketing expenses $225 $525 $550 Portrait of sales 10.89% 13.67% 10.60% Marketing Expenses Budget Since StarPlus Studios is not doing the printing for most of their products, the marketing expenses are fairly low throughout the year. At the beginning and end of each year the expenses will be increased due to the stationary and business card’s needs .In the second year a direct mail campaign will also have a marketing cost for the printing and design of that campaign. Total Capital $ 15,000 Total Capital and Liabilities $ 25,000
  • 20. 20