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Photography Business Plan Template [2020 Updated]

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V.Competitive Analysis

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

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 Photography

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.

Competitive Pricing

 ElegantFreddy's
Portrait Session$300-$400$400-$600
Weddings$5000-$8000$8000-$10,000
Group Photos$500-$700$400-$600
Prints$5-$6/each$7-$9/each

Competitive Advantage

[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.
Photography Business Plan Template [2020 Updated]
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