Factors to Consider in Launching a Commercial Photography Business

This document discusses the factors to consider when launching a commercial photography business, including market size, cash flow management, and risk assessment. It provides insights on demographic factors and inferential statistics. The document concludes with recommendations and conclusions for starting a successful photography business.

Running head: ENTREPRENEURSHIP
Entrepreneurship
Name of the Student
Name of the University
Author Note

1ENTREPRENEURSHIP
Table of Contents
Introduction................................................................................................................................2
Factors to consider in launching the business............................................................................2
Methodology..............................................................................................................................3
Demographic factors..............................................................................................................4
Inferential statistics................................................................................................................5
Recommendation and conclusion..............................................................................................9
Reference List..........................................................................................................................11
Appendices...............................................................................................................................13
Appendix 1...........................................................................................................................13

2ENTREPRENEURSHIP
Introduction
It is important for any business to consider the factors that will help them in operating
in the market in a free manner. The business that will be launched in the United Arab
Emirates (UAE) market is that of commercial photography, where it will provide to serve the
clients by clicking pictures and videos of the events for which they are being hired (Drucker,
2014). This will enable the clients in creating a memory of the event so that they can cherish
it on a later stage. The business will be providing the clients with excellent shots with a
personal touch so that it can add value to the needs and demands of the clients (Kirzner,
2015). The name of the company will be ‘Exposure N Shutter’ that will provide efficient
services to its clients so that the event can be captured and given to the client at an assigned
date in and around the town of Abu Dhabi. The company will be hiring a studio space and
hire staffs along with the lighting equipment so that it can serve both types of clients that is
who are willing to get clicked within the office premises and the outdoor shoots as well
(Kuratko, 2016).
Factors to consider in launching the business
Size of the market
It is very important to understand the demands of the market that are present
regarding the photography business so that it can help in increasing the chances of better
level of profits for the business. A survey had been conducted before the launching of the
business so that it can help in highlighting the efficiency of the business that it would create
in the market (Kavadias, Ladas & Loch, 2016).
Managing the cash flow
It is also very important for the company to manage the monetary resources that are
being injected in to the business so that it can be used in a nominal manner that will result in

3ENTREPRENEURSHIP
increasing the profit levels in a positive manner. The planning of the business needs to be
done in meticulous manner so that it can result in calculating the expected cost that will be
incurred approximately and the returns that it is expected as well (Barringer, 2015).
Management skills
The persons responsible for running the business needs to have a clear idea regarding
the services that they can provide to the clients and the ways in which low usage of resources
can increase the output of the firm (Zikmund et al., 2013). This will ensure that the level of
profit increases to a greater extent. The managers also need to make sure that the employees
that are hired are given proper responsibilities so that the diversification of the work can
increase the level of efficiency as well (Sadgrove, 2016).
Risks
It is important to calculate the risks that may be present in the business so that these
contingencies can be taken in to account when the business is in operation in the market. The
calculated risks will help the company in tackling the situation if it arises within the market
with the help of the necessary resources so that the business does not incur any losses. This
will also allow the business to increase its loyalty in the market, as the rival companies may
suffer due to the risks that are not calculated by them (Taran, Boer & Lindgren, 2015)
Methodology
In an attempt to find out the likeliness of the business in the market, a survey was
conducted among the customers with respect to photography. This will help the company in
analysing the data that has been collected so that the business can result in the maximum
satisfaction of their needs and demands (De Reuver, Bouwman & Haaker, 2013). The
analysis has been given below:

4ENTREPRENEURSHIP

5ENTREPRENEURSHIP
Demographic factors
Age and gender
Age and
gender
Less than 18 18-36 37-54 55 and above
Male 1 3 5 4
Female 1 1 4 1
Less than 18 18-36 37-54 55 and above
0
1
2
3
4
5
6
1
3
5
4
1 1
4
1
Age and gender
Male Female
The survey had been conducted on 20 customers in the UAE market so that their
views on commercial photography business can be collected. From the analysis, it can be
seen that most of the participants were male and the highest number of responses were
collected from the age group of 37-54 years (Samu & Wymer Jr., 2013).

6ENTREPRENEURSHIP
Inferential statistics
Particulars Never Rarely Monthly Yearly
Responses Nil 3 12 5
Never Rarely Monthly Yearly
0
2
4
6
8
10
12
14
0
3
12
5
Hire
Hire
The analysis has shown that the customers have stated that they hire photographers on
a monthly basis due to the events that takes place and it needs to be covered by the
professionals (Thamir & Poulis, 2015).
Particulars Less than 1 More than 1 1-3 More than 3
Responses 1 4 13 2

7ENTREPRENEURSHIP
Less than 1 More than 1 (1-3) More than 3
0
2
4
6
8
10
12
14
1
4
13
2
Frequency
Frequency
The customers have stated that they hire the photographers for a package of mostly 1-
3 shoots. This helps them in covering the entire event and the price that is quoted is also
lower than the individual shoots, which helps in increasing their savings (Allen, 2015).
Particulars Portraits Headshots Products Client’s need
Responses 4 2 3 11
Portraits Headshots Products Client's need
0
2
4
6
8
10
12
4
2
3
11
Preference
Preference
The customers have stated that most of the photographers work according to the needs
of the client and also provide them with necessary insights so that the photos can look better.

8ENTREPRENEURSHIP
The briefings are done by the clients and the company tries to provide a personal touch so
that it can be unique and appealing in nature (Urbano & Turro, 2013).
Particulars Word-of-mouth Social media Photography
agent
Photographer
website
Responses 10 5 4 1
Word-of-mouth Social media Photography
agent Photographer
website
0
2
4
6
8
10
12
10
5
4
1
Knowledge
Knowledge
The customers have stated that most of the photographers that they have knowledge
are through word-of-mouth, as it helps them in understanding the quality of work that they
have done for their friends and relatives. The word-of-mouth also help the customers in
building up a better relationship with the professionals (Sadgrove, 2016).
Particulars Quality of Cost of Location of
the
Speed at
which the

9ENTREPRENEURSHIP
photographs work photographer entire
delivery of
the image is
completed
Responses 5 7 4 4
Quality of
photographs Cost of work Location of the
photographer Speed at which the
entire delivery of
the image is
completed
0
1
2
3
4
5
6
7
8
5
7
4 4
Selection
Selection
The customers in the survey have stated that the cost of hiring the photographers is
the main factor, as their budget needs to be adjusted accordingly. The customers are given the
cost according to their requirement, which increases with more number of demands (Allen,
2015).
Particulars Studio At-home Any location

10ENTREPRENEURSHIP
Responses 4 3 13
Studio At-home Any location
0
2
4
6
8
10
12
14
4
3
13
Location
Location
The customers in the survey has also stated that they prefer outdoor locations apart
from home or studio so it can provide a better environment to the photographers in clicking
the pictures (Zikmund et al., 2013).
Recommendation and conclusion
Therefore it can be recommended that the commercial photography business can be
started in the UA market, as the customers who have been surveyed has given a positive
feedback. The main aim of the business will be to satisfy the needs of the client by providing
better level of service along with the flexibility of personal touch, which will create the image
in a unique manner. The photographs will be selected by the clients after being clicked,
which will then be printed by the company on the best paper that is available in the market so
that it can be preserved for a long time. The company will be using different types of cameras
along with equipment so that it can cater to all the needs of the clients. The package that the
company will be offering are Premium, Super-premium and Exotic out of which the clients

11ENTREPRENEURSHIP
can choose and the amount will also vary. Apart from these, the clients also have the option
to provide custom package for which the rates will be set accordingly.

12ENTREPRENEURSHIP
Reference List
Allen, K. R. (2015). Launching new ventures: An entrepreneurial approach. Nelson
Education.
Barringer, B. R. (2015). Entrepreneurship: Successfully launching new ventures. Pearson
Education India.
De Reuver, M., Bouwman, H., & Haaker, T. (2013). Business model roadmapping: A
practical approach to come from an existing to a desired business
model. International Journal of Innovation Management, 17(01), 1340006.
Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
Kavadias, S., Ladas, K., & Loch, C. (2016). The transformative business model. Harvard
business review, 94(10), 91-98.
Kirzner, I. M. (2015). Competition and entrepreneurship. University of Chicago press.
Kuratko, D. F. (2016). Entrepreneurship: Theory, process, and practice. Cengage Learning.
Sadgrove, K. (2016). The complete guide to business risk management. Routledge.
Samu, S., & Wymer Jr, W. W. (2013). Nonprofit and business sector collaboration: social
enterprises, cause-related marketing, sponsorships, and other corporate-nonprofit
dealings. Routledge.
Taran, Y., Boer, H., & Lindgren, P. (2015). A business model innovation typology. Decision
Sciences, 46(2), 301-331.
Thamir, A., & Poulis, E. (2015). Business intelligence capabilities and implementation
strategies. International Journal of Global Business, 8(1), 34.

13ENTREPRENEURSHIP
Urbano, D., & Turró, A. (2013). Conditioning factors for corporate entrepreneurship: an in
(ex) ternal approach. International entrepreneurship and management journal, 9(3),
379-396.
Zikmund, W. G., Babin, B. J., Carr, J. C., & Griffin, M. (2013). Business research methods.
Cengage Learning.

14ENTREPRENEURSHIP
Appendices
Appendix 1
Survey questions
1) In which age group do you belong?
Less than 18
18-36
37-54
55 and above
2) What is your gender?
Male
Female
3) How often do you hire a photographer for meeting your needs?
Never
Rarely
Monthly
Yearly
4) For how many shoots are the photographers hired for?
Less than 1
More than 1
1-3

15ENTREPRENEURSHIP
More than 3
5) What do you prefer the photographers to shoot?
Portraits
Headshots
Products
According to your client
6) How do you find the photographers for the events?
Word-of-mouth
Social networks
Photography agent
Photographer websites
7) How do you select your photographers?
Quality of photographs
Cost of work
Location of the photographer
Speed at which the entire delivery of the image is completed
8) Where do you prefer the shoots to be conducted?
Studio
At-home

16ENTREPRENEURSHIP
Any location