You can download the Photography business plan template (including a full, customizable financial model) to your computer here.
Demographic Profile of Target Market
[Company Name]will serve the residents and businesses operating in [company location]looking to capture their families, staffs, businesses, and products in images.
The area we serve is affluent and has the disposable income/profits required to demand portrait photography services.
The precise demographics of the town in which our business is based are as follows:
|Target Population by Age Group|
|Target Population by Income|
|Income $50,000 to $74,999||11.16%||6.00%|
|Income $75,000 to $99,999||10.91%||4.41%|
|Income $100,000 to $124,999||9.07%||6.40%|
|Income $125,000 to $149,999||9.95%||8.02%|
|Income $150,000 to $199,999||12.20%||11.11%|
|Income $200,000 and Over||32.48%||54.99%|
We will primarily target the following four customer segments:
- New Parents: Whether during pregnancy or during a newborn’s early years, parents look to capture these special moments in high-quality images and do not have the expertise or time to do this themselves.
- Families: Many families seek to maintain consistently updated portrait photos for their homes, offices, wallets, and holiday cards.
- Area Businesses: Businesses seek to enhance their website, provide image documentation of their location and facilities, and create portraits of executives, staff, and entire teams. These businesses often look for long-term relationships with one photo studio for all of their portraiture needs.
- Product Manufacturers: Businesses which create a line of products seek photography for their websites, brochures, spec sheets, and other marketing materials. The marketing departments of these companies typically seek photographers to outsource this activity as it is inefficient for most to keep a photographer on staff.