Factors to Consider in Launching a Commercial Photography Business

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

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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

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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

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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: