Question

Topic: Other

Need Help In Projections

Posted by Anonymous on 10/6/2009 at 1:12 PM ET 125 Points
I am working a business plan for a self contained mobile photo studio and am looking for input regarding potential sales projections, markets, and am in need of figures and statistics to support my expeectations.
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  • Posted on 10/6/2009 at 1:22 PM Member
    The best place for you to probably start searching is through the US census:

    https://www.census.gov/

    You'll be able to get a sense of some numbers based on different geographies and demographics that comprise your target audience. It's just a starting point though - you'll want to create different scenarios of sales expectations. These census data sets can get you started with the foundations.

    Good luck!
  • Posted by Levon on 10/6/2009 at 1:40 PM Member
    Using other photographer's books (if authorized with permission and if possible) would really be helpful.
  • Posted on 10/6/2009 at 2:19 PM Member
    If you have been and are currently in this business, you probably have the info you will need at your fingertips.

    Once you understand the dynamics of your current customer base, it's relatively easy to superimpose your numbers onto data found in the census.

    The operative factor that will change in a mobile environment is that (I assume) you will only be in each locale for a short time... You will have to put together some form of marketing package (media, mailings, whatever) to be distributed in advance of your visit. No doubt you will save overhead by not having a FIXED place of business, but you will have to re-assign some of this savings toward the marketing efforts required by your new scenario.

    Good luck !
  • Posted by steven.alker on 10/6/2009 at 3:55 PM Member
    I’m confused, Are you trying to build a marketing plan for mobile studios which might be purchased by photographers or are you looking to build a marketing plan for a photographer who is using a mobile studio?

    Either way, your starting point will be the capital cost of the studio and everything else as far as numbers are concerned will flow from that, combined with your desired level of profit.

    Could you clarify please?

    Steve Alker
    Xspirt
  • Posted on 10/6/2009 at 6:17 PM Author
    Actually Steve, I am trying to put together a plan for my own studio. LOL

    A little background. I have been a photo buff ever since I was a kid. Two years ago I got hurt on the job and the doc said no more construction... ever. I am trying to put together a business plan for a mobile photo studio where I can shoot, process, and deliver the prints on the spot, using all professional digital equipment. I am needing to put together a marketing plan and also projected sales figures.

    Sorry if I wasn't clear enough here folks, this is all new and strange for this old carpenter.
  • Posted on 10/6/2009 at 6:44 PM Member
    Sorry... I assumed you were already in the photo business.

    I would keep in mind that most Wal-Marts have a photo studio. They are TOUGH to compete against on price. You might check them out before proceeding....
  • Posted on 10/6/2009 at 6:46 PM Author
    WalMart doesn't go out to your class reunion, family reunion, etc... and do the shots.
  • Posted on 10/6/2009 at 7:32 PM Member
    Exactly ! You'll need to market AROUND them !
  • Posted by Peter (henna gaijin) on 10/6/2009 at 8:30 PM Accepted
    Unless you can talk to someone who is doing this business already and get info on how much they do, you are going to have to guestimate.

    to determine sale projections, one thing to do is figure out the maximum amount you could do in a set period of time (say, a week). How many events can you do, and how many photos can you take and then process in that time. This will be an upper limit for you, which you will not be able to reach working for yourself, but will give you at least a data point.

    As you are what is basically a consultant, figure you will spend at least half of your time out getting new business (and not doing billable things). Nature of the business.

    Also, figure that until you get going and get people referring you, you will spend even more time than this getting business.

    In regards to figuring pricing, you can look at the photo studios at tourist attractions and what they charge for shots. For example, before you go to the top of the Empire State Building or out to Alcatraz. They are providing a service that roughly matches yours, so their pricing may be a valid data point for setting yours.
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