1.The nature of your business 1.
Business name ‘Feedback’
2.
Business activity We are a design company that focus ourselves around promotion of the independent music industry in Leeds through well-considered design. However, we would still not turn down other work as a design company but we will consider music our specialism. 3.
Mission statement We design, promotional and branding material for bands, record labels, gigs, events, recording studios and solo artists. The drive of the company focuses around a collective passion for both design and music and the enthusiasm for a fusion of the two. 4.
Business objectives • We plan to run a cheaply made but free zine that we would distribute around all areas associated the independent music scene in Leeds during our third year of university. • Once graduated we will focus the majority of our time on the business, continue to run the zine and begin standard design practice. • Once comfortable profits are being made from our ongoing design practice, the zine will progress from being free and cheaply made to a priced, decent quality full colour, printed magazine which offers advertising space as a way of funding
5.
The people in the business • 4
6.
What is the structure of your business? • EVERYONE – We will be involved in branding, promotional work, layout and networking. • CHRIS – Branding, promotional, typography, web and editorial • MAT – Wed, branding, promotion, typography, photography and direct sales & marketing. • POLLY – Branding, image making, idea generation and print based media • PAV – Image making, illustration, idea generation
7. What is the legal status of your business? • We will be a Limited Company. • We have chosen this on a basis of equality within the company.
________________________________________________________________________________ 2. Resources 1.
Products or services • We will provide: Branding, web design, promotional material, layout/editorial, clothing/merchandise • Projection would be: Web design 20%, promotional 30%, branding 20%, magazine 20%, clothing 10%.
2. • • • • • • •
What resources do you require? 4x iMacs with peripherals @ £1500e 4x adobe creative suites (master) @ £2200e 2x MS Office Home & Business @ £200e 1X Sage accounts handling software @ £140 Office & studio equipment @ £1800 In house A3 printer w/ papers& inks @£1000 Total to nearest 3000 = £6000
3.
How much stock do you need any stock to start your business?
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Nothing
_________________________________________________________________________________ 3. Prices POLLYANNA:Business Plan.doc
1.
How have you worked out your prices? • YEAR 1 - After calculations, for the first year we are going to charge between £8 - £14p.h each. However, we may take on free work for our company portfolio. • From here on we will increase our charge by 25% every year providing we meet yearly profit forecast.
2. How do your prices compare with your competitors? • All charge between £25 and £40p.h. More expensive than our charge as we are starting from the bottom. • Companies contacted: Analogue, Swink and SBT Design. 4. Customers 1.
What evidence do you have that anyone will buy your product / service? • Yes. Graphic design is a popular business around Leeds. • Based on research, there are no design companies in Leeds that specialise in music-based design. Especially with the unique selling point that our clients will be promoted for free in our zine. • Yes. There are always new bands popping up around Leeds and with this influx of bands comes a need for their promotion through designed material.
2. •
Who are these people? Bands, Djs, events promoters, recording studios, record labels and solo musicians – all of whom can be found in the sector of independent music.
3.
Where are they? • Leeds.
4.
Why would they buy from you rather than anyone else? • Provide a SWOT analysis to show that you have analysed your strengths and weaknesses in comparison to your potential competitors. • NOTE – We will promote ourselves as being part of the music industry. Aim to become ‘the rock n’ roll design company’.
_________________________________________________________________________ 5. How will you promote your business? 1. 2. 3.
Branding Ourselves - business cards, website, letter heads, compliment slips Social Networking – Myspace, Twitter, Facebook, Youtube and Vimeo Free Advertising – Yellow Pages, Thompsons, Gumtree, Free Online Business Advertising and customised emails (e-flyers) produced in Mail Chimp. 4. Networking – By going to free and low priced gigs, other networking events for business people, music networking events and online forums. 5. The zine (to become magazine.) 6. Flyers and posters. __________________________________________________________________________ 6. Total set up costs 1.
Legal costs Sorted out by an employed accountant.
2.
Resources Capital Expenditure: £105,000 Materials costs: £18,735 Bills: £18,000
3.
Marketing Promotion: £6000
4.
How will you finance the business start up? £15,000 loan and a personal investment of £13,000 between the 4 participants.
7. How will you monitor your progress> 1.
Financial control • We will hire and accountant but also keep a track of our income using accounting Turbo Cash software.
POLLYANNA:Business Plan.doc
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Keep a track of website and Myspace hits. Friends following on Facebook and Twitter. Keeping a track of how many zines are being picked up in shops.
POLLYANNA:Business Plan.doc