Adventure Photography

Business Plan for FISCAL YEAR

2015

Contributor:
David Frech: Sole-Owner and Master Photographer

Business Plan Service Industry

Executive Summary
Mission statement
Adventure photography helps clients preserve moments in time by through professional
exprerience. We make professional quality digital photographs that specialize in event
photography. We do this by specialized photography equipment that accomodates the
high demand of flexibility and adaptibility to bringing the studio to the customer.
Business opportunity
The photography industry has identified the entrepreneurship opportunity in both event
and sports photography. The demand for mobile services has never been higher as
sporting events for athletes in new sports is developing in the Hampton area in soccer,
running, and educational level sports.
This business venture will provide not only an opportunity for a career opportunity in a
business venture that we enjoy but share the passion of photography with others and
have fun. To build a client list of more than just job accomplishments but a relationship
system where exceeding customer expectations will build a strong network of loyal
customers and friends.
The business plan of action is a short term goal of three to five years to create a return on
investment to meet profitability in the long term.

Financial projections
Annual sales for fiscal year 2015 are projected to start at $40,000 in line with the national
average for photographers with graphic experience. Currently the main income
generation will be providing services to military in the area and marketing through
sponsorship of running events in the Hampton Roads area. Other income sources will be
generated through mobile event service such as providing services in school portraits for
yearbooks, pet photography, real estate photography, and wedding photography.
Profits are not expected for three to five years as a large investment of capital will provide
marketing strategy to build awareness of business venture and build capabilities with new
equipment.

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Industry Environment
Overview of the industry
Photography is traditionally thought of as a hobby as camera equipment has become
more available to the public but professional photographers make images through
science, art, and experience. The industry of photography is a broad industry where
photographers can specialize in various subject categories of real estate, weddings,
event, sporting events, portrait, and family photography. The specialization reflects the
interest of the photographer and provides a unique opportunity to be an active member
of the community as a historical documentarian.
Portrait photographers provide an established location where customers have to go for
the products and services while mobile service bring the service on-location to the
customer to catch a moment in time digitally for everyone to enjoy.
Projected position in the industry
Adventure Photography will target mobile on-location photography services as the source
of income for the company. The company will dominate a specialized service as a leader
in the industry providing a more versatile service of availability.
Potential customers
The potential customers that Adventure Photography will target include the Army, Navy,
and Air Force, the Real Estate Industry, and residents of Hampton Roads. The majority of
the popular in the Hampton Roads area is affiliated with the military or impacted by the
military presence in the area.
Direct competitors
Direct competitors include entrepreneur business ventures already established in the
Hampton Roads area which include Shelley Ramsey Photography and Kinsler Photography.
There is a large concentration of portrait studios in the area which could provide services
in event photography but do not specialize on-location photography.

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[Fiscal Year 2015]

[Adventure Photo]

[Shelley
Ramsey Photo]

[Kinsler Photo]

48000

32000

Sales

40,000

Net Profit
(Loss)

32000

Employee
s

Market
Share

28500

[Hayne Photo]

22000

18000

Marketing
Business opportunity
There are very few photography businesses that provide a mobile service for more than
simple portrait photographs. The company will provide probono service to major sporting
events to build relationship with the community and establish value in name and service
provided.
Company impact
With Adventure Photography major events that impact the community or individuals will
be captured and displayed not just as an image but rather a work of art that celebrates a
moment in time that will be recorded in history.

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Company strategy
Adventure Photography will respond to solicitations as a Veteran owned. In order to
establish a relationship in a military dominate area I plan to use my prior experience as a
combat photographer for credibility to capture high risk events in history. In order to
establish awareness of new establishment advertising at sporting events as a volunteer or
sponsorship will build a solid marketing campaign to gain customer interest on service
availability as well as a diverse portfolio.
Benefits matrix

Customer Pain Points

Benefits

Customer has to drive to portrait

studio. Access for disabled
individuals limited.

Adventure Photography has mobile service

for on-location services and pet inclusion in
family portraits.

Lack of specialization

Specialization prohibits opportunity to explore

a more diverse product service.

Visibility of operations

Through marketing of highly visible events

company can explore both working with the
community and establishing relationships.

Limited personal

Creditials are established and products

produced reflect the name of the owner and
operator.

Customer needs individual with

restricted access

Prior military member with established

credentials.

Operations
Organizational structure
Adventure Photography management will consist of a sole proprietorship. Employee base
will consist of an administrative assistant to make office operations while the master
photographer embraces his passion of visual arts. After a customer base is established
and after a year or two the decision to hire a photographers assistant or get creditials to
work as a certified sponsor of military apprenticeship will be looked into for growth in
business venture.

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Core operations
Adventure Photography specializes in both event and sport photography where action is a
principle concern in a semi-controlled environment. The business will support the primary
focus of on-location services but maintain the traditional portrait photography business
where equipment is located and central point to market service.
Adventure Photography mission is focus of client satisfaction. The nature of Adventure
Photography is it provides the business model of Always Ready. Clients come first, and
Adventure Photography is able to meet any demand. The problem of location will not be
an issue as the resources used at the business enterprise are specialized for mobile
services.
Contract will be outsourced to legal representation for establishing legal binding
documents with business enterprises and customers. Legal services will be contracted
and represent an expense to address financial concerns with performance of
responsibilities in a service industry.

Financial Projections
Revenue will be generated on a constant increase with demand in photographic services.
Profits are not expected in the first three years of establishment as profits will be used to
cover cost of initial investments and service contracts for equipment. With mobile
photography services the overall cost is high as service contracts and warranties are a
constant concern for reliable equipment in high risk environments. After three year plan
revenue can b used to establish capital reserves during off seasons. In the Hampton
Roads area which includes Virginia Beach it is well known that tourist revenue peaks in the
spring and summer seasons while off season outside activity is severly limited. Due to
high volume of military personal if a declared military operation such as a war is declared
this could impact business volume.

Break Even Analysis

12
10
8
6

Rev enues

Costs

4
2
0
2015

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2016

2017

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2018

2019

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Pro-Forma Income Statement

Adventure Photography
For 2015-2017

REVENUE
Gross sales
Less sales returns and allowances
Net Sales

2015
$40,000
5,000
$35,500

2016
$42000
5,000
$37,000

2017
$48000
5,000
$43,000

Beginning inventory

$4000

$6000

$3200

Goods Purchased
Less Ended Inventory

$470

$220

$725

($300)
$4,170

($3350)
$2870

($2500)
$1425

COST OF SALES

Gross Profit (Loss)

OPERATING EXPENSES
Salaries and wages
Employee benefits
Payroll taxes
Insurance
Rent
Utilities
Depreciation & amortization
Office supplies
Travel & entertainment
Postage
Equipment maintenance & rental
Interest
Furniture & equipment
Total Operating Expenses

$18000
4000
2000
600
2000
1200
1000
400
300
0
0
0
6000
$35,500

$19000
4600
2100
600
2100
1300
1000
500
500
0
0
0
1200
$35,000

$20500
5000
2200
700
2150
1350
1000
400
800
0
0
0
900
$35,000

Net Income Before Taxes

Taxes on income
Net Income After Taxes

$0
2000
$2,000

$2,000
2000
$0

$8,000
2200
$5,800

Extraordinary gain or loss

Income tax on extraordinary gain
NET INCOME (LOSS)
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$0
0
($2,000)

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$0
0
$0

$0
0
$5,800
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the

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