Buisness Plan

WEDDING PHOTOGRAPHY

With 5.5 billion being spent over the UK on Weddings its not surprising many people get into the field. The average cost of a wedding in 2005 was 16,000, thats a 50% increase from 1998. With photographic packages charging up to £3,000 it leaves no question why it is so popular. With Wedding photography being so popular and a large amount of the public trying their hand to photography, it is very difficult to find a professional, and when you do it costs.

However with photography it is very much,‘What you pay for is what you get’. Wedding photography is a multi million business to dabble into, but what are the initial costs?

The first step in evaluating these costs would be to establish the necessities.

I. Equipment needed for the job, This will be the camera’s and lenses, a decent camera and lenses will set you back around £6,000, however rentals will cost you substantially less. Although it will be throwing money away, if you don’t have £6,000 laying around it would be the best option available to you.

II. Website Cost, this will be where the client will look through the galleries, understand the package break down and what products we offer. Nowadays if you have the know how, a website will only set you back the hosting fee, ranging from £12. Otherwise you will have to look into other means of design and development costs.

III. Transport to the venues, when you land yourself a job its down to you to get there, it would be best to hire people that can drive other wise you are running at a risk of using public transport.

IV. Numbers and cost of Staff, how many staff members are really needed? For wedding photography it is best to have one male and one female photographer, as they normally go into

the brides and grooms rooms whilst they get ready before the ceremony. Staff should be prepared to work from 8am to 8pm if need be. This will cover the ceremony to first dance. The wages should be based on the hours on total they work in the day and deducted from the package cost. Staff are to be trained in photography and have experience in the field and editing. They should be comfortable with light room and photoshop and help in the book production. Staff have to be available seven days a week.

Start off fee= £250 cover the cost of transport to first job, hiring equipment and online space for website.

Step 2: The Product initial cost and production I. Cost of Printing II. Cost of Framing – depending on size and number III. Cost of images on DVD IV. Book Cost

 

Actual Cost of printing and framing:

Size

Unframed

Framed

6×4

£1

£3.99

7×5

£2

£4.50

9×6

£2.45

£4.99

12×8

£3

£6.50

16×12

£3.45

£8.99

30×20

£6

£9.00

Client Cost of printing and framing:

The original cost would be £5 a DVD.

Client Cost: Cost of DVD comes with the legal rights to the images and mass production, (disclaimer included)

Size

Unframed

Framed

6×4

£6

£30

7×5

£12

£30

9×6

£18

£45

12×8

£25

£75

16×12

£50

£150

30×20

£100

£250

DVD

Cost

25 images

£75

 

DVD

Cost

50 images

£150

100 images

£225

Complete DVD edition

£350

Actual Cost of Book Production ( not including shipping +£3 ) The books will be produced by Blurb and there will be a 5-10 day delay from order to delivery.

Client Cost of Book Production ( not including shipping +£3 )

Pages

Softcover

Hardback

30

£30

£50.54

40

£35

£60.89

50

£36

£60.89

Pages

Softcover

Hardback

30

£100

£350

40

£150

£400

50

£200

£550

 

Packages and price breakdown

 

• • • • • •

Bronze package Including the 30page hardback book DVD containing 50 images Full day coverage 12×8 Framed Image of the couple Whole package equalling £675.54

The break down:

Actual cost £62.04 Price charged £575.54 for items £100 labour fee, taken from the deposit made when booking The profit before staff deductions: £513.50 staff deductions -£100 per staff (2members before overtime) = average profit pumped back into the business £313

Silver Package Including the 40 page hardback book DVD containing 100 images Full day coverage 16×12 Framed Image of the couple Whole package equalling £875

The break down:

Actual Cost £74.88 Price charged £775 for items £100 labour fee, taken from the deposit made when booking The profit before staff deductions: £800.12 staff deductions -£100 per staff (2members before overtime) = average profit pumped back into the business £600.12

Gold package Including the 50page hardback book DVD containing All images Full day coverage 30×20 Framed Image of the couple Whole package equalling £1250

• • • • • •

Actual Cost £79.89 Price charged £1150 for items £100 labour fee, taken from the deposit made when booking The profit before staff deductions: £1170.11 staff deductions -£100 per staff (2members before overtime) = average profit pumped back into the business £970.11

(Transport will be covered by the left over profit after staff deductions, per job will cost around 20 pound in fuel.)

The break down:

Step 3: Setting yourself ahead of your competitors Look at business’s alike in your local area

Compete with their prices, offering lower prices will provide more jobs and interest Offer local venues your business cards and offer advertising for their venue when meeting a client. Get stands at Wedding Fairs in London and Birmingham. Word of mouth is a strong tool, use it Putting AD’s in the local Newspapers Pay for advertising with google, to increase hits to your site. Offer 10% discount off in the first 3 months of opening. Always show off the quality of your products, having physical copies when meeting clients increases jobs and deposits made.

Step 4: Booking a Wedding Bookings for meetings will be made over the phone

At the meeting, size of product and package will be discussed Depending on how early they book, they could be given discount The wedding times and location will be discussed. Deposits will be made of £250 with a cancellation fee of £80 Clients will be informed on the standoff between the wedding and their product. This time will normally stand at 10-15days.

The week before the wedding the cost of the package will be settled, via cash/cheque preferably or pay-pal via our website. (The length of time we will cover at the wedding will be discussed, see at staff hours and packages for further details)

Management structure:

 

List of roles:

Founder- N.Dersley Head of company

Key investor Main Photographer

Staff- Matthew Cornwell 2nd Photographer

Head of groom Photography

Head Photographer and key investor: N.Dersley Covers Bridal Party Covers Intimate photographs of couple Covers the ceremony

Covers First Dance and evening party. Editing Checking products

Training: Trained in photography to a degree level To have a maths GCSE C+ To have good people skills

Salary: From the business being new it will be determined on the number of weddings booked and how many hours you work a wedding. The basic rate an hour will be £10.

Photographer: Matthew Cornwell

Covers grooms’ party Covers the ceremony Covers Intimate photographs of couple Covers Group shots Covers best mans Speech Ordering of products Checking products Delivering Product to client

 

Training: Trained in photography to a degree level To have a maths GCSE C+ To have good people skills

Salary: From the business being new it will be determined on the number of weddings booked and how many hours you work a wedding. The basic rate an hour will be £10.00.

Office Facilities The editing will be done at home where the hardware and software facilities are already intact. Apple Mac OS X intel core 2 duo processor Working with Light room and photoshop CS4

SMART

Specific

To start the business and cover 25 Weddings this year

Measurable

Our success will easily be measures in the number of weddings we do and how many we book for the year ahead.

Agreed upon

Firstly get the site up and running, and talk to other venues to promote us.

Realistic

It is a realistic goal, it is lower than it will be in our second year, as many businesses don’t gain clientele until 4-5 months in. Time based The time we have from setting up our site and talking to venues, as well as other advertisements, it is a goal that can be achieved, as long as we push at it, this number could double by next year.

Our smart goal will be to cover 25 weddings this year, this will be easily measured and obtained with sufficient advertising of our service and quality of product. With our prices lower than the average wedding photographer we are running at an advantage. With successful wedding businesses cutting down on the number of weddings they cover a year and compensating by rising prices, this is where our business will be a cut in front of the rest. 25 weddings is a low target for some, but in our first year of business, advertising of our product, no matter how strong, is still new and many couples base their decisions on word of mouth from friends and family. So it is important that we really push our assets and get our online site up and running as soon as possible.

SWOT ANAYIS

STRENGTHS

Lower prices

Set packages

Intimate couple photographs after ceremony

Male photographer to cover Grooms party and get intimate photographs of getting ready.

Female photographer to cover Brides party and get intimate photographs of getting ready.

Online site showing Galleries Images are taken up to first dance. Group shots will be included.

OPPORTUNITIES

Low prices, more cliental

New business showing good quality images may be more successful than those business that have been around for longer, due to a bad job.

We being young may attract younger cliental

We have the edge of being young and artistic.

There is the option of traditional black and white if wanted at a much higher price.

WEAKNESSES

New business

Not as well established

No Office, as working from home

Venues may not be keen to promote, as we are new faces.

We may be nervous our first job together.

THREATS

Other companies similar to ours

Other companies being popular at venues

Other companies having a residence for their business

We are young, older cliental may reject us on that basis.

 

[online] available from <http://www.usb2u.co.uk/articles/2011/03/four-weddings-and-a-usb-flash- drive/> [17 March 2011]

[online] available from <http://www.blurb.com/create/book/pricing#standard-landscape>%5BJan 2012] [online] available from <http://www.nationalweddingshow.co.uk/exhibitor-area>%5BJan 2012]

[online] available from < http://www.thepictureframingcreator.co.uk/info-photo-frames.html >[Jan 2012]

[online] available from <http://www.chrischambersphotography.co.uk/index.php/wedding- photography-packages/>[Jan 2012]

[online] available from <http://www.pixcellence.co.uk/wedding-photography/>%5BJan 2012]

 

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