Comprehensive Project Plan for Haven Photo Studio Business Venture

This project plan details the establishment of a new photography studio, "Haven Photo Studio." The plan outlines the business's aims, objectives, and operational strategies. It emphasizes the importance of a business plan for new ventures, highlighting market demand and the advantages of a sole proprietorship. The assignment uses the business canvas model to analyze key partnerships, activities, value propositions, customer relationships, customer segments, key resources, distribution channels, cost structures, and revenue streams. The studio aims to capture memorable moments and build customer loyalty through diverse photography services, including wedding, engagement, and product photography. The plan includes a detailed cost structure and revenue model, emphasizing the importance of marketing and customer relationship management. The project concludes that a well-structured business plan is crucial for market analysis and achieving business objectives.

Project plan for business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Business plan for new business..............................................................................................1
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8
APPENDIX......................................................................................................................................9

INTRODUCTION
Project plan for the business is very important document of management for project. This
summarized the operational and financial objectives of the business which is help to make proper
business management plan. It is the contained and details planed and budget which presents
objectives of business. The present report is based on the project plan for opening new business.
The business is the photography business studio. This is new business ideas which are presently
in demand in market. Report lays emphasis on the aims, objectives, plan and action plan for
business and its growth in future.
MAIN BODY
Business plan for new business
Business plan is the important document and written report which is shows the operating,
financial, human resources, building and budget plan of the business. This business plans for sets
the new business which is photography studio. This is best business idea because this idea now
days have high demand in the market. I have done working in Starbucks from last 12 years. With
this, think start own coffee shop but this business are already have in market place on high
demand (Chambers and Humble, 2017). This idea got from customer observation that are come in
coffee shop and click pictures of every moment. Other hand, have high interest of click and
taking pictures. With the help of observation, decide to open new photo studio.
Start new sole proprietor business because this has various advantage and benefits over
other business entities. It has the simplest structure of business in which one person is owner in
this type of business. This business has various advantages to the business which will beginning
is so easy in this type of business structure rather than to other business structure. In this have
less numbers of paper work and create time for legal sole proprietorship. This business tends to
be the affordable model for start new business and it’s maintained. In this have tax benefits like
instead of business have to their own business gain and losses of their individual tax return. This
business structure helps to grow their business and also employ others. This can hire other and
also enjoy tax benefits by doing this. The main and important advantage of this business is owner
have compete and direct control on their decision making because in this owner take their
decision without sharing details to anyone or corporate boards. This has freedom for drive the
business in any direction.
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The name of business is “haven photo studio” which will open in the London street mall.
The main aim of this business is to earn money by capture important and epic moment of peoples
and customers. Objective of this business is to build customer loyalty and product
diversification. The photography business owner cultivates the current customers developing
new customers and business segments (Dudin and et.al., 2015). This business plays an important
role in every people’s life because this connects peoples to our past and also helps to remind
about peoples, place and feelings. The photography has various uses like documenting, self
expression, products, advertising, fashion and just taking pictures and moments to remember.
Here, is using business canvas model which is help to make best and effective business and
action plan for start new business are mention below.
Business canvas model
Business canvas model is the strategic managements for develop new business model. It
is the visual chart with describing a firm’s products, value proposition, customers, finances and
infrastructure. It is the great and effective tools which are help to understand the business model.
Before using this model here is evaluate the competitors of business and then made business
model. The main competitors of haven photo studio are photo link studio and premier park
studio. Those will the main competitor of haven photo studio.
Key partner and suppliers
The key partnership is the best network of the suppliers. Those will help to reduce risk,
acquires resources and model. Like strategic alliances non competitors, joint ventures for
develop new business and buyer/suppliers relationship for ensure reliable suppliers. This
includes the main resources for the business knowledge, licences and customers. The key partner
of business will such as photographers, wedding planners, venues and individuals. Those are
give motivation to our business by creating various opportunities.
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Key activities
The key activities are most important to set in the starting of the business as per
requirement because with the help of activities business is reach towards the high growth and
build customers loyalty in effective manner (León and et.al., 2016). With the help of the key
activities values are highly generate and create like channels, customer’s relationship and
segmentation. The key activities will wedding photos, engagement photos and new product
offerings. This is the most important stage of this business.
Value proposition
Here is very important to sets the core values of business which is serves and delivers to
customers by satisfying them in effective manner. With the help of this values and serves
services to customers, they are highly satisfied with services. The values proposition of business
will photos captures personality with the help of offering various services in effective manner.
Those are very important and effective for the business and its growth factors. This help to
achieve goals, aim and objective of business in effective manner. With the help of this customers
are highly satisfied and attracted towards studio.
Customer relationship
The customer relationship is most effective and important part of starting new business
for earns money. Positive and strong customer relationship will help to build perfect goodwill of
the company at marketplace. Here analysis the target market who are the important customers of
the business (McKenzie, 2015). In this all age’s group peoples are target customers like kids,
youngsters, old peoples and couples. All are the target customers for this business start ups.
Mostly youngsters are attracted towards it’s because they are highly like to clicks pictures off
every second. Other hand wedding couples are also target peoples because of now a basic trend
is pre wedding shooting and after wedding shooting.
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Customers segment
Customer segmentation is most important for the business and its growth. Most of the
youngster and couples are create the highest values for the business. They will highly attract
towards the business. They will the most important customers of the business which is haven
photo studio. In this individuals are create high values and visual for business. They will
convenience but still is requires the high level of quality in business. Desired and unique
photography is most important for create best and effective experience of peoples. Those are the
segment of this business and its growth factors are covers in this stage.
Key resources
The key resources are required for best values proportion (Plenter and et.al., 2017). With
the help of this customers will get to know about product and services of business. The most
important resources are distribution channels, customer’s relationship like social media,
promotional channels. Those will be effective and best for the business growth factors.
Distribution channels
Distribution channels are the best and important part of the business. With the help of this
elements customers are easily reach towards it. The distribution channels are wedding planners,
strategic partnership, values, social media and perfect goodwill in the market. By this more
customers are know about this business and its services (Ovans, 2015) . This wills the distribution
channels for this business in future. The social media and wedding planners will work best for
promote their business in market and also help to attract customers towards the business. Social
media is covers not high cost because it run on daily basis by all peoples and owner. In this
owner will post their best clicks picture which related to wedding, photo shoots etc. by this
customers are see that and try to reach their.
Cost structure
The cost is very essential element of business canvas model which can aid to estimate
expenditure and income for the business. Therefore, it is the very necessary to prepare cost
structure in the photography business which includes development of website and its
maintenance, customer acquisition, promotional material like models kin wedding books, costs
of advertising like Google, Face book ads, weeding blog membership and other expenses. In this
context, photography business needs to development of website of their business which aid to
increase consumer satisfaction and attraction towards the business. Effective cost structure also
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raises the number of consumers which can increase the development and growth of photography
business. Also, selected business needs to invest the money on promotion material like wedding
books which also assists the consumer attraction and attention towards the business. As well, it is
necessary to photography business for estimate the cost of ads like Face Book, Google which
will raise the online presence of business (Toro-Jarrín, Ponce-Jaramillo and Güemes-Castorena,
2016). Effective advertisement helps to targeted more consumer and enhance the consumer
attraction as well as attention towards the photography business because each and every person
likes the photography in the today’s world. With the help of it, business will grow and develop as
well as increase profits of their business. Also, they can enhance the sales and market share with
high prepare the effective cost structure. Therefore, it is necessary to prepare the cost structure
for developing the business which can aid to increase consumer relationship and their loyalty
towards the business.
Expenses
Rent expenses £250
Bill expenses £300
Photography equipment purchase
 Camera tripod
 Prime lens
 AA batteries and charger
 Camera cleaning kit
 Lighting
£230
£700
£302
£150
£128
Marketing expenses £2000
Travel expenses £940
Total expenses £5000
Revenue stream
The revenue stream is creating the values which are pays by the customers against of
services. In this customers will pay against of services taking. By this business will generate
money it will turn into the profit and loss of business. These will covers payment process by
customers are pays. Revenue stream will cover fess couples, strategic partnership and renting
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and offers product (Ward, 2016). It will be effective and valuable for the business and its growth.
With the help of this customers are reaching towards the business and business will generate
money and profit.
Business canvas model example:
Key partnership
 Wedding
planner
 Caterers
 Individua
l
 Venues
 Ring
sellers
 Photogra
phers
Key activities
 New
product
offering
 Talent
recruit
 Social
media
 Relationship
managemen
t
 Web
interface
Values
propositions
 Help to
engage
couples
their
weddin
g by
creatin
g
effectiv
e
service
s.
 Photos
capture
person
ality by
offerin
g
service
s.
Customers
relationship
 Strategic
partners
 Wedding
planner
 Couples
Customers
segment
 Individual
s desire
high
visual
 Convenie
nce but
still
desire at
higher
level of
quality.
Key resources
 Studio and
photo
equipment
 Photo
curator
 Providing
initial set
edited
photographe
rs
Channels
 Wedding
planners
 Strategic
partnershi
p
 Social
media
 Venues
and
caterers
Cost structure
 Rent expenses
 Customers relationship
Revenue structure
 customer WTP
 Payment process
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 Promotional material
 expenses
 Revenue stream like strategic partnership,
renting studio and product offering.
With the help of this model business will grow in effective manner which is effective and
valuable. Business canvas model will effective and best for starting new business in market
place.
CONCLUSION
From the above study it had been concluded that the business plan has very important
document for start new business plan. This helped to analysis whole market requirement as per
needs and requirement. For make best business plan report had been covered by the business
canvas model it has best for use. This helped for analysis the competitors, key activities, key
resources, channels those had help to promote business and its products at marketplace. This also
supported to cost structure and revenue stream of business plan. By this owner got idea of
business expenses.
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REFERENCES
Books and journals
Chambers, I. and Humble, J., 2017. Developing a Plan for the Planet: A Business Plan for Sustainable
Living. Routledge.
Dudin, M. and et.al., 2015. The innovative business model canvas in the system of effective
budgeting. Asian Social Science. 11(7). pp.290-296.
León, M.C. and et.al., 2016. Designing a model of a digital ecosystem for healthcare and wellness using
the business model canvas. Journal of medical systems. 40(6). p.144.
McKenzie, D., 2015. Identifying and spurring high-growth entrepreneurship: experimental evidence from
a business plan competition. The World Bank.
Ovans, A., 2015. What is a business model. Retrieved July. 5. p.2016.
Plenter, F. and et.al., 2017. Repainting the business model canvas for peer-to-peer sharing and
collaborative consumption.
Toro-Jarrín, M. A., Ponce-Jaramillo, I. E. and Güemes-Castorena, D., 2016. Methodology for the of
building process integration of Business Model Canvas and Technological
Roadmap. Technological Forecasting and Social Change. 110. pp.213-225.
Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth, profitability,
and family leadership. Springer.
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APPENDIX
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