You can download the Photography business plan template (including a full, customizable financial model) to your computer here.
Direct & Indirect Competitors
The following prominent photography studios are located within a 15 mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Elegant Photography is the town’s leading photo studio and has been in business for 32 years. Elegant offers a wide array of event and portrait photography, including weddings.
Elegant has an extensive list of services and an established clientele, but does not serve a large number of area clients who cannot afford its top tier prices.
Freddy’s Photographyis a recently opened photography business with a brand that especially appeals to parents with small children. Freddy’s offers portrait and candid family shots, prints, and albums.
[Company Name] has several advantages over Freddy’s Photography including:
- Freddy’s Photography only offers limited options without room for customization.
- Freddy’s does not have its own studio, so clients must provide a location. This also increases travel expenses for Freddy’s.
We expect that Freddy’s Photography will continue to thrive based on its brand. However, we expect that more and more customers will frequent [Company Name] based on the high-quality portraiture and wider selections of options it offers.
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Service Customization: [Company Name] offers extensive options and allowing extensive customization, including digital photo editing services.
- Management: Our management team has years of photography experience that allows us to market and serve customers in a much more sophisticated manner than our competitors.
- Relationships: Having lived in the community for 25 years, [Founder’s Name] knows all of the local leaders, newspapers and other influences. As such, it will be relatively easy for us to build branding and awareness of our photography business.