Carvey Reardon Studios 1 Page Business Plan
Overview
Carvey Reardon Studios, LLC has a clear business objective to develop, produce, and connect photographers with clients and companies never seen before in the entertainment industry. Our products and services have been nurtured, designed, and patented over a year and 4 months. We are about to transform the photography industry forever.
The Business Objectives
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 short term business objective is new client acquisition- We understand that customer growth in the 18-25 year old demographic is the key to immediate revenue. Through incentives, such as a rewards program, will create word-of-mouth across college campuses in Southern California. There is a cost associated with customer acquisition. It is only time spent canvassing, spending the proper capital necessary to keep our online portfolio updated & and our rates transparent. Our long term objective is to expand from still photography to short films and equipment rentals by 6/1/2017. Following continued revenue of 10,000 per month, we would also purchase a premier Virtual Reality Studio. This industry is just beginning to develop. Capturing this market share would ensure increased revenue after a single client booking. As of 12/01/2016, there is no active studio that offers virtual reality rentals. It would be a terrific dating experience- we would connect with fellow alumni- the founders of tinder- for marketing in the virtual reality market. After 12 months, the company will be completely self-sufficient regarding day-to-day operations, allowing us to develop new ventures and provide the capital necessary to acquire "the head shot truck" before they expand to additional cities. Once passive income is achieved, we will present the property owner with an offer to purchase the property as an investment. In 5 years, based on previous sales in the surrounding area, we would see a 1.25 million dollar profit.
The Customer
Carvey Reardon Studios has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated (via think tanks) the key problem(s) surrounding the photography industry- long wait times, no quality control, and the mysterious (and unfortunately pretentious) attitudes of freelance "professionals". At C.R.S, headshots can be scheduled, taken on demand, and delivered via courier the finished photo(s) to the client. The second problem of this 1.89 billion dollar industry is the disparity between freelance photographers. As of July 2016, there were 255,000 photographers, with 120,000 partnerships. We will connect these photographers to our platform as independent contractors. We will establish instant rapport with these photographers by providing them with their own income stream when they are not connecting with clients on their own. This is a critical issue for our target market- young professionals easily connecting with a photographer on their own schedule. Our assets are of higher quality than 99% of what sole proprietors can obtain; this is why our rates will not be discounted, but they will be transparent. In an age of distrust, this type of integrity is a major asset, as well as the age of the current management.
The Value Proposition
Carvey Reardon Studios is uniquely positioned to deliver value to Millennial's because a professional reputation online is now equally as important as professionalism during the employment screening process. Carvey Reardon Studios will provide "on demand" head shots- eliminating the anxiety, cost, and wait time of typical photography shoots. We patented the "BrandInc photo•" for everyone, not just entertainers. 91% of HR departments admit to screening a potential employees' online persona prior to a live interview. With a quick & professional "BrandInc photo•" we ensure that our clients are equipped with authentic, professional portraits that they would be proud to display to any employer. For aspiring thespians, we provide unmatched expertise and credibility thanks to our legendary financier, Dana Carvey. With nearly half a century of industry experience, We know how vital ones' head shot is, and we guarantee their satisfaction, something that no other photography company is willing to stand behind. In an age of on demand everything, we've made personal branding nearly instantaneous. The partnership dichotomy our company structure has is one of a kind. Naturally, it has taken considerable time and resources to develop. It is the cornerstone of our competitive advantage.
Competitors
We have a number of competitors in the photography industry. This is due to the disparity and competition amongst Other freelancers; however, we will be uniting them. Regarding established partnerships, LLCs, and sole proprietorships, our key competitors include "The Head Shot Truck, Marc Cartwright photography, "headshotstudio.com", and "headshotsLA" by JMS. Our understanding and experience in dealing with these competitors has been used to refine our strategy and value proposition. We firmly believe that we can compete effectively & aggressively against the competition thanks to our unique dichotomy of classic hollywood connections (celebrity/agency endorsements) and our active management team that PATENTED this game changing photography process...taking the mystery & pretentiousness of an overwhelming number of photographers. We guarantee the photos we take will be to our client's ultimate satisfaction; eliminating the old industry "take it or leave it" attitude.
Key Strategies
Over the next 6 months, our focus will be to Appoint an office manager. CRS will operate around the clock & be available to answer phones and schedule appointments at a moments' notice. Our only problem at the moment is initial cash flow in the event we book a full service photo shoot. This is because we would need to finance our contractors before the shoot. Our current objective is retaining and/or hiring 3 make-up artists, 3 hair stylists, and 1 photo enhancement firm. Furthermore, we plan to launch with 5 photographers on call (with at least 2 with their own portfolios-establishing additional credibility for both CRS and our respective photographers). When complete, Dana Carvey and other celebrities will send out a digital marketing blast; sending out various tweets promoting the studio. Lastly, we need to focus on one facet of our company at a time, starting with still photography. Once we have achieved $3,000 in revenue in that sector, we will promote phase two: studio rental time & equipment leasing. To remain compliant with the CA Dept. of Labor, waiting to obtain a sellers permit is necessary. Once 5,000 is achieved through studio rentals, phase 3 is video production & CGI assistance. Before this launch, we will have a drone capable of track shooting, rapid pan out shots, and 4K resolution to infiltrate the B2B sales/advertising sector of videography. This is when we promote some of Dana's clips he has filmed from the studio, followed by another marketing blast. After $7,000 of revenue, we will partner with either Oculus Rift or HTC Hive to create a Virtual Reality studio. This is when we will be able to truly highlight to influencers on social media that we can truly meet all of their needs (we will heavily promote memberships with this particular clientele). $10,000 in revenue per month is our conservative goal per month. The first month goal will be 4 clients per week. If those 8 total clients purchase the "BrandInc• Shot", they will receive a free headshot within a calendar year if they produce a successful referral to CRS. This will stimulate grassroots marketing within college campuses and social media pages. The first month of operation will commence on January 1st, 2017 to ensure that we have performed enough trial runs to guarantee internal confidence. For the first 3 months, we will offer incentives such as buy one get one 50% off, and/or refer a client, or another "Brandinc Shot". After 6 months of operation (6/1/17), our active management will subside, in part due to photographers and clients connecting with each other using the platform . At this point, depending on tax benefits, I would hire enough employees to receive advantageous tax breaks, thus making their wages a simple tax write off in April 2017. By 1/1/18, I expect 120,000 in gross revenue, with 200,000 being the goal for the last quarter of the fiscal year. Our exit strategy would be either licensing our business model to various organizations, or franchising the operation after selling our equity to the proper firm by 1/31/2019.This task will be undertaken in the context of our broader strategy. After 12 months, we may avoid selling our equity, opting for the acquisition the head shot truck instead. If the company makes over 300,000 in revenue by 1/1/18, I will transform it into a c-corp in order to sell shares to outside investors. I would prefer to then primarily use the head shot truck company as the way to expand into New York, Connecticut, Massachusetts, Illinois, Florida, Texas, Nevada, and wedding destinations (international yet close, such as Mexico, the Virgin Islands, Bahamas, Aruba, Hawaii, Canada, and the UK). After 12 months with 120,000 in revenue, I would expand CRS and create subsidiaries- CR photography, CR films, CR music, CR consulting, the "InstaTruck", and and others under a name yet to be decided by our board.After completion, our firm would expand into Cuban importing/exporting, private investigator firms, and talent management firms. Obtaining an excise license and locating a vendor is critical to the success of our importing venture, although our exit strategy would be a simple domain auction if the ordeal was found to be overly time consuming (there is no tangible data on Cuban exports at the moment). This venture would be heavily based on membership (1 year, monthly afterward). An ideal outcome would be a merger with a large tobacco conglomerate such as Phillip Morris. During this time, I will be attending law school to be the acting business manager of these ventures. Also, after 6 months, if we experience revenue upwards of 15,000/month, CRS would either move spaces, or preferably, buy the current property as an investment. Then we would have 2 locations, triple the storage space, and access to sunset plaza. After 5 years, Accordig to local real estate experts, a commercial real estate developer would present us with a terrific offer with awesome profit margins. We sell the property for 5 million, generating 2.5 million in liquid capital. It would catapult our company goal of being a multi-million dollar firm with the chairmen of the board achieving 1 million dollar net worths' under 30 years of age with passive income continuing to roll in. This is when we would publish a memoir based on our respective journeys. 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: Average 1 client per day the first month. Then measure the success of CRS by revenue from then on. Anything less than 120,000 in the first year would not suffice. After meticulous study, we forecast profits to be upwards of $20,000 per month for 2 years. After those 2 years, we will succeed in other patented ventures under a revised C corporation and begin heavily investing in both residential and commercial real estate in the greater Los Angeles area. In 5 years, our assets will total close to 6.5 million dollars.
About this document
Connecting Photographers and clients Business Plan
This document was created by Mark of Carvey Reardon Studios using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
Plan your next project at http://www.chartgantt.com for the best excel gantt charts.
No comments:
Post a Comment