Palate Princess 1 Page Business Plan
Overview
Palate Princess has a clear business objective to develop, produce, promote and lead Food photography and food critic services. We are a full service food photography business including but not limited too, food writing, food blogging, restaurant and organic product photography, food marketing development and execution, food concierge, food critic services, food columnist applications, and food journalism. These services have been developed for over 6 months with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to grow profitability. It is critical that we balance revenue growth with the growth in our cost base. Whilst the desire for profitable growth may constrain our growth rate, it is more important that revenue growth in isolation.
The Customer
Palate Princess has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem. for restaurants and Organic Food Products, the Internet is the number one place consumers trust to make their decision on where to dine. if a customer isn't attracted to the food presented, they will indeed choose the competitor. This clear miscommunication between what the restaurant is really offering and the customer is seeing accounts for 40% of their loss of clientele, due to lack of professional photos and imagery that reflects the quality of their establishment. This is a critical issue for our selected target market of Local and national restaurants.
The Value Proposition
Palate Princess is uniquely positioned to deliver value to Local and national restaurants. "Palate Princess will Provide a service that creates high quality photos and food marketing that will increase clients profit and customer base by 20%." In order to be deliver on this value proposition, our unique background in advertising, journalism, and nutrition will allow us to be able to take more then a photo. Instead we will capture more customers through branding, positioning the ,and marketing, all through taking photos that reflect the goals of the restaurants. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have very few direct competitors within the Food photography and critic market. We consider our key indirect competitors to be:
Local Photographers
Local AD Agencies
College Student Interns
Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with These indirect competitors due to lack of their presence in the food photography and restaurant marketing niche. Most photographers work for ad agencies and marketing firms, there is not a food photography and food critic business that exists where they directly supply their services for restaurants, and for that matter not a food photography firm developed in this area..
Key Strategies
Over the next 6 months our focus will be to Hire an assistant and have over 50 restaurant clients. This task will be undertaken in the context of our broader strategy to expand into a full service food concierge business. We will submit photos to publishers, marketing firms, and entertainment venues.. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are:
Having complete equipment and portfolio base
Launch website with over 500 views a day
Nationwide recognition and publications
Obtain 100 paying customers
About this document
Food photography and critic Business Plan
This document was created by Brittany of Palate Princess using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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