A

PROJECT REPORT
on
SOCIAL CULTURE EFFECT ON RURAL AND URBAN AREA

Submitted for partial fulfillment of the requirements for the degree

of

BACHELOR OF BUSINESS ADMINISTRATION

SESSION 2020

BY

SHAWAAB NAYAK

Under the guidance of-

MR.RAJEEV BHANDARI
(ASSISTANT PROFESSOR)
Invertis University, Bareilly,

INVERTIS UNIVERSITY , BAREILLY (U.P.)

SESSION 2020

1
 STUDENTS DECLERATION

I, SHWAAB NAYAK having of BBA final year of INVERTIS UNIVERSITY BAREILLY

hereby declare that the project titled “Social Culture Effect On Rural And Urban Area” has
been prepared by me towards the partial fulfillment of the requirements for the Bachelor’s of
business administration (BBA) program under the guidance of Mr. Rajeev Bhandari.

I also declare that this is purely original work of mine with declaration and effort.

Date:

(SHAWAAB NAYAK) Signature of the Candidate

2
 CERTIFICATE

TO WHOM IT MAY CONCERN

This is to certify that SHAWAAB NAYAK of BBA –6 Semester in our institute has successfully
th

completed her project work entitled to "CUSTOMER SOCIAL CULTURE EFFECT ON

RURAL AND URBAN AREA " for the partial fulfillment of degree of Bachelor of Business
Administration for the session 2020.

Dr. Manish Gupta Dr. Dheeraj Gandhi Mr. Rajeev Bhandari

(Dean Management) (HOD, BBA &B.com) (Assistant Professor)

3
 ACKNOWLEDGEMENT

Preservation, inspiration and motivation have played a key role in any venture. In the present world
of cutthroat competition project is likely a bridge between theoretical and practical working,
willingly I have prepared this project.

feel highly delighted with the way dissertation report on the topic " CUSTOMER SOCIAL
CULTURE EFFECT ON RURAL AND URBAN AREA " has been completed.

I express my utmost gratitude and ineptness to god and to all who have contributed in some way or
the other and been linked with the project from day one.

I express my sincere gratitude to Mr. Rajeev Bhandari without whose guidance, keen interest
and regular encouragement my project would not been compiled.

From the core of my heart, I express my sincere thanks to Mr. Tarun Gupta Sir, Mr. Manmohan
Sir, and Invertis University for encouragement and guidance.

I am extremely grateful to my parents, the respondents and all my friends for their unconditional
support and ready assistance.

4
 INDEX

Cover Page

Student Declaration

Acknowledgement

List of Tables

List of Figures

Chapter I- Introduction

Chapter II- Literature Review

Chapter III- Research objectives / methodology

Chapter IV- Data Presentation and interpretation

Chapter V - Research Findings

Recommendation/Future Research Scope /Limitations/ Conclusion

Bibliography

5
 CHAPTER 1

INTRODUCTION

6
INTRODUCTION

7
 CHAPTER 2

LITERATURE REVIEWS

8
 LITERATURE REVIEWS
Pestalozzi (2018) represented a turning point in the history of the teaching of drawing because of
his claim that drawing could be justified as an essential and integral part of every child's
education and not merely as an extra activity. According to him every child has to learn how to
draw and without instruction in drawing there could be no harmonious human development.
Pestalozzi is the first to attempt to teach drawing according to pedagogical principle. He
recognized drawing as an educational subject and granted it the same position and importance as
other essential educational subjects.

Developmental theories in art originated in the work of Luquet (2018) who used naturalistic
observations to describe stage- like progressions in children’s drawing. He assumed that
children’s drawings were based on an internal mental model. He identified five stages of
development in the first stage ‘fortuitous realism’ a child recognizes likeliness between their
spontaneous scribble and something known to them in the world. The child’s discovery that his
or her marks can be representational leads to more intentional mark making. Luquet calls the
next stage ‘failed realism’ when referring to the child’s inadequate skills for producing a
likeness, and ‘synthetic incapacity’ when referring to the child’s inability to place marks in
correct spatial relationships. The first stage of successful intentional representation is called
‘intellectual realism. This is where the child draws not only what they see but also what they
know.

Piaget and Inhelder (2017) argued that a child’s drawing performance reflected the child’s
cognitive competence. Until a child reached the concrete operational stage of development, the
child was tied to egocentric mental models of the world. Only when a child enters fully into the
stage of concrete operations can combine concepts of perpendicularity, parallelism, seriation and
proportion with new ability to discriminate different viewpoints and selecting a view point to
depict, produce visually realistic drawings. According to Piaget drawing was not a special
domain of development but merely a window into the child’s general cognitive development.

9
In Erikson’s (2018) view the school age child is focused emotionally on demonstrating skill.
Artistic realism seems to be valued in culture, so realism is reflected in children's drawings. If
children judge themselves to be good at drawing, they will likely to continue drawing, to see
themselves as competent.

Gibson(2017) indicates that controlled practice or training and instruction can improve
perceptual judgments and increase the accuracy and differentiation of drawings.

Lowenfeld (2017) published “Creative and Mental Growth”, which quickly became the textbook
for art educators. Lowenfeld argues that there are six clearly defined stages of artistic
development.

Salome’s (2016) statistical study of visual perception argues that the children need rigorous
drawing programs which would teach them the specifics of drawing.

Nelson and Flannery (2017) examined the direct teaching of perceptual skills. Their focus was
the relationship between teaching styles and student’s drawing styles. They found a positive
correlation between direct teaching of perceptual skills and children’s drawing performance.

Goodman (2018) in his book ‘Languages of Art’ represents a fundamental turning point in the
analytic approach to artistic issues. His unorthodox approach to art is part of a general approach
to knowledge and reality and is always pervasively informed by his cognitivism, nominalism,
relativism and constructivism. From Languages of Art and subsequent works, a general view of
the arts as contributing to the understanding and indeed to the building of the realities we live in
emerges.

Arnheim (2016) intended to narrow the gap between scientific and artistic knowledge, to use
scientific findings to better understand the arts while preserving the equally pivotal role of
subjectivity, intuition, and self-expression. He challenged the age-old distinctions between
thinking and perceiving, and between intellect and intuition. Arnheim argues that the
development of drawing in young children is one of progressive differentiation. He describes the
child’s development in drawing as the progressive production of graphic forms, either invented
or taught, by which the child tries to realize his or her intention for a particular picture. Arnheim
sees these progressive differentiations being driven largely by aesthetic considerations. He

10
recognizes schematic drawings as necessary steps towards depictions that are more complex
rather than deficient representations.

Kellogg ( 2018) points out that by understanding the developmental stages children progress
through when drawing, you will be able to allow your child to express themselves spontaneously.
She analyzed hundreds of children’s drawings from around the world and identified twenty
different basic scribbles. She suggests that these scribble were acquired in a developmental
sequence and that there might be a chronological framework that describes drawing in terms of
cognitive development. She suggested that children need to progress through the described
stages and viewed the omission of detail as lack of knowledge or misunderstanding.

Salome and Reeves (2017) developed a drawing program which gave children the specific
perceptual training. This program managed to increase young children’s visual perceptual
learning as well as the amount of visual information in children’s observational drawings. They
showed how perceptual training of very young children could also benefit the children’s
readiness to read.

Grove, R (2015) focuses all aspects of fine and performing arts for gifted and ways of
implementing such programs at the local, state, and national level in an overview of
presentations at the national conference on arts and humanities.

Schwartz (2018) tries to explain the interaction of text and pictures. For young children it may be
that thinking and designing occurs most effectively orally and mentally, and that there is no need
for them to draw the design they have created in these ways.

Golomb (2016) considered the child as a problem solver. She examined children’s drawing and
sculpture problems. The problems that the children possess in their studies are inherent to a
particular graphic media that the children are using. She also discusses the nature of the visual
problems the children have to solve in order to represent their ideas. According to Golomb, the
problem solving occurs within the context of visual presentation is of value to the child’s overall
development as a problem solver. Golomb considered children’s drawing development in terms
of cognitive, problem solving activity. Within a broad framework of human development, she
studied children’s drawings as a creative search for meaning. She considered representational
drawing to be a truly creative activity that is invented and reinvented in every generation and

11
across different cultures to form a basic vocabulary of graphic shapes. She focused on cognitive
activity that is motivated by a child’s need to make sense of their world. She examined children’s
drawings for symbolic references to children’s experiences.

Golden (2015) describes five different types of visual-verbal relationships in picture storybooks:
"text and picture are symmetrical; text depends on picture for clarification; illustration enhances,
elaborates text; text carries primary narrative, illustration is selective; and illustration carries
primary narrative, text is selective"

Cox (2015) conducted studies on the use of transparency in children’s drawings. According to
Cox, a child is mentally able to use symbols to represent reality by 18 months. Therefore a child
can engage in pretend play. This ability to pretend can be seen as a toddler uses the movement of
the crayon or marker to depict an action in his or her drawings. Dots, for example, may be rain
falling or animals moving about the page. Gestures are used to represent the action.

Fein (2016) examined drawings for similarities amongst the drawing of children, artists, and
drawings from the past. She looked for some developmental progression from descriptive
pictures to symbols that are more abstract. She high lights some of the similarities between the
progression of children’s drawings and a historical or evolutionary progression over time.

Hayes et al. (2016) suggested that children’s drawings in science can contribute to the
development of individual skills, knowledge and understanding. Drawings have been used in a
variety of ways when they have been used to probe understanding in science. Drawing activities
have been successfully used to explore children’s ideas about abstract concepts.

Scardamalia et al. (2016) studied on graphical tools for representing students’ knowledge lead to
gaining skills in graphical representation of concepts. Researchers conclude that Knowledge
Forum experience leads to student gains in graphical literacy.

Arnold et al. (2016) have shown how young children’s ideas about the Earth as viewed from
space developed from simple notions of a flat cylinder to a sphere. This investigation attempted
to group children’s drawings into levels of understanding. In Strommen’s (1995) research into
children’s drawings of a forest, drawing content has been quantified.

12
Costal (2015) in relation to view specific drawing, has criticized the notion that children will
become better at drawing by attending to their retinal images. He asserts that children’s
progression towards view specific drawings is due to cultural convention.

Sommer’s (2016) "Drawing and Cognition" describes experimental studies of graphic production
processes and argues that the act of drawing is a "graphic engine or a production system" that
helps people generate concepts. Goel’s "Sketches of Thought" argues that drawings are ‘external
symbol systems’ to represent real world artefa

Welch et al. (2016) says that drawing is a method by which children explore a problem, and
discussion between children plays a major role in clarifying problems. For most young children
what they produce in the design phase is seen as only one possible solution, the model they make
later is yet another and (in their eyes) more significant solution.

diSessa’s (2016) article “changing minds of children”, as technology integrally affects the way
children represent, communicate, and remember, in and out of school. He stresses the use of
geometric forms in primary grades and basic art concepts are given as colour, line, form, space
and texture.

Freedman (2017) has a new appreciation of the visual arts as a way of making meaningful
connections with the world so as to understand its purpose, meaning, relationship and influence.
In Freedman’s words “Conceptualized as visual culture, the visual arts do not only represent
culture, they are the physical embodiment of it” .This socio-anthropological and sociocultural
approach to teaching visual culture is particularly relevant to the complex multicultural
postmodern society we live in today. When we realize that visual arts and visual culture are
already an important part in the life of every student, we can provide every child with a culturally
and socially relevant experience in visual arts.

Fish (2015) in "How Sketches Work" point out that sketches are representations of "visual
thought" that help to facilitate perception and translation of ideas. He argues that a diagram is a
representation created to externalize and visualize problems.

13
Suwa and Tversky (2014) report that drawing is important in that it reveals a designer’s thinking
graphically and facilitates problem solving and creative effort. They argue from their
retrospective reports of design process that drawings provide visual cues for revision and
refinement of ideas. They also classify the information in the verbal protocols into different
categories such as spaces, things, shapes, views, lights and circulation.

Meier (2015) discussed the importance of encouragement, nurturing and modelling in the
development of artistically talented individuals. Artistically talented people are influenced by a
number of factors which are inherited, acquired, and learned. The presence of a close friend or
mentor to encourage the developing talent is necessary.

Carlson (2016) observed that fourth, fifth and sixth graders who were provided special stimulus
materials (pictures, records, toys) wrote longer and more original compositions and used a more
versatile vocabulary than students in the control group who were writing on an assigned topic.

According to Piaget and Inhelder (2015), preschoolers draw what they know about the world,
rather than attempting to capture a photographic mirror of reality. That is why we see drawings
depicting both the outside and inside of an object at the same time. While approaching realism,
drawings remain fanciful throughout the preschool years with imagination leading colour,
composition and content. Piaget & Inhelder, interpreted many early drawing phenomena as
pictorial.

Koppitz (2017) found that girls tended to include more body parts and clothing in their figures
than boys. Because drawings are often determined and interpreted, in part, on the basis of realism
which is identified through completeness of the human figure(s), the additional details drawn by
the girls could be misinterpreted as manifesting superior intelligence.

Olson (2015) found that teaching children drawing rules resulted in a significant improvement in
their ability to make drawings. There is some evidence that children use rules when drawing.
First, children often copy simple shapes in the same way. Second, children seem to follow the
same route when making drawings of the same figure.

14
Phillips et al. (2017) developed a coding system on children’s drawings of single cubes, in
which drawings were coded for structural errors, the number of faces shown or as an exhaustive
categorization of the different forms obtained

Sommers (2014) reminds ‘graphic conservatism’, a term proposed to describe children’s

tendency to repeat established visual formulas. Once a drawing strategy has been acquired,
further development most usually takes the form of adding detail and embellishing the drawing
rather than revising its basic form.

Freeman and Cox (2014) have examined a variety of drawing problems with young children
using a developmental framework. While Cox does acknowledge differences in the
representation of the human figure in different cultures, these studies seem to be primarily
concerned with determining the age at which certain drawing behaviours most likely occur.
Children’s drawings, particularly figure drawings, are still used in the cognitive assessment of
young children.

Bremner (2015) conducted Studies using real objects as subject matter have generally involved
either an elevated view, with the child looking down at an angle on the array so that far objects
were either totally visible or partially occluded by near ones, or an eye-level view in which the
far object is totally occluded by the near one.

Cratty (2014) termed scribbling as "motor babbling”. According to Cratty by providing children
with the materials and opportunities to scribble we can promote physical skills. Just as babbling
is a natural way to gain language, scribbling is a natural gateway to muscle control and
coordination.

Cox (2014) suggests that although young children do not spontaneously use partial occlusion,
they do feel constrained to show only the objects that are visible in a scene, omitting totally
occluded ones.

Golomb and Helmund (2014) attempted to explore preschooler’s attitudes toward their
drawings, through the investigation of their thoughts and feelings about the activity, the medium
and the mode of representation. They found that regardless of the medium (paints or crayons)
used, children were satisfied with their own productions. For example, most children seemed

15
surprised when asked about altering something in their drawing. Further, when asked if there was
anything they could do to make it better, only a few children accepted that they could improve it.

To our knowledge, Sommers (2015) is the only researcher to present a global cognitive model of
drawing abilities. He organizes it into two hierarchical systems: Marr's model of visual
perception and a graphic production system. The latter comprises four hierarchically organized
components: depiction decisions, production strategy, contingent planning and articulatory and
economic constraints.

In Finke’s (2017) research on the use of images for creative synthesis, subjects are shown a set
of geometric shapes and asked to suggest a creative combination of them. Finke’s model of
creativity claims that new configurations can be generated and explored by manipulating and
combining images.

Wales (2014) in a study of pictures produced by aboriginal children in Australia, examines what
can occur when children are exposed to quite different cultural influences. He makes distinctions
between a child’s mental representations and the different ways that may be used to realize that
representations pictorially. Wales cautions us to consider the cognitive, personal and cultural
factors that could be taken into account when studying children’s pictures.

According to Braine et al. (2015) children’s drawings show dramatic gains in organization,
detail, and representation of depth during middle childhood when some depth cues such as
making distant objects smaller than near ones begin to appear.

Toomela (2015) analyzed drawing as a system rather than a unitary ability. The aim was to
investigate whether and which language factors influence drawing performance and drawing
development. In two studies of 2- to 11-year-old children drawing as a system of components
was investigated. Tests were designed to measure motor output, imagery, memory, perception
and verbal abilities. The analysis of relationships between drawing measures and 0components
of a drawing system revealed that all of the proposed components independently affected
drawing development. Results of analyses of the data from younger and older children separately
suggest that different components of a system are crucial for drawing development at different
phases of development.

16
Gardner's (2015) multiple intelligences framework reminds us of the importance of developing
children's abilities to comprehend and interpret various sign systems and to communicate using
various modes of expression.

Stables (2012) challenged the belief that young children can use drawing as a means of
modelling and developing ideas which was strongly held in the late 1980’s, and it has been
suggested that this may represent an inappropriate paradigm of secondary technology being
transferred to the primary sector.

Bensur et al. (2012) found age differences in the developmental complexity of children’s
drawings. These differences were related to their recognition and memory of various objects
found in their environment. Although it was implied that a more developed working memory
was responsible for more complex drawings. It is also evident that increased spatial ability also
influences complexity. The study concluded that increased drawing complexity reveals advanced
working memory and spatial abilities.

Nagata (2014) in his study suggested that the problem reported by students of not being able to
draw may be the lack of proper seeing and perception of the object.

To Welch et al. (2015) Sketching is a method by which children explore a problem, and
discussion between children plays a major role in clarifying problems.

17
 CHAPTER 3

RESEARCH OBJECTIVES
METHODOLOGY

18
 RESEARCH OBJECTIVE

 Are the steps you are going to produce the photography. 

 Explain how aims are to be accomplished
 What are going to be the immediate starting points. 
 Make accurate use of concepts in photography e.g movement in water photography (slow
shutter speed)
 Must be sensible and precisely described (using technical language)
 Is there a feel that you want your work to have?

 What impact do you want your work to have on viewers.

19
 RESEARCH METHODOLOGY

Research methodology is the way in which research problem are solved systematically. It is a
science of studying how research is conduct technically.

The term research is also used to describe an entire collection of information about a particular
subject. Research is defined as human activity based on intellectual application in the
investigation of manner.

Business research can be defined as a systematic and objective process of gathering, recording
and analysing data that provides information to guide business decision. Any honest attempt to
study a problem systematically or to add to knowledge of a problem may be regarded as
research. (Theodor son and Theodor son 1965 cited in Rebar 1995).

SECONDARY DATA COLLECTION:

Secondary data is a type of data that has already been published in books, newspapers,
magazines, journals, online portals etc. There is an abundance of data available in these sources

about your research area in business studies, regardless of the nature of the research area.
Therefore, application of appropriate set of criteria to select secondary data to be used in the
study plays an important role in terms of increasing the levels of research validity and reliability.

These criteria include, but not limited to date of publication, credential of the author, reliability
of the source, quality of discussions, depth of analyses, extent of contribution of the text to the
development of the research area etc. Secondary data collection is discussed in greater depth in
Literature Review chapter.

20
Type of Research:

Research Area: Bareilly

Type of Data: Secondary Data

Collection of Data Through:

• Websites

• Annual Reports

• Research reports.

21
 CHAPTER -4

DATA PRESENTATION

AND

INTERPRETATION

22
 DATA PRESENTATION AND INTERPRETATION

Phoebe's Photo Studio will become profitable in its fifth month of operation, by May 2016.  It
will grow vigorously each year after that to its optimum level during 2008.  This optimum level
will produce sales sufficient for a generous net profit, even with the owner's and employee's
salaries.

The business will be funded with an investment by the owner and loan secured by real estate.
Start-up Funding

The start-up requirements for Phoebe's Photo Studio including start-up expenses, current assets,
cash on hand, and long-term assets were presented earlier in this plan. Start-up funding is
presented in the table below.

The owner, Phoebe Peters will provide a seed investment.  A loan for the balance will be secured
by real estate.

START-UP FUNDING

Start-up Expenses to Fund $28,730

Start-up Assets to Fund $81,270
TOTAL FUNDING REQUIRED $110,000
Assets
Non-cash Assets from Start-up $70,500
Cash Requirements from Start-up $10,770
Additional Cash Raised $0
Cash Balance on Starting Date $10,770
TOTAL ASSETS $81,270
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $100,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
TOTAL LIABILITIES $100,000

23
Capital
Planned Investment
Owner $10,000
Investor $0
Additional Investment Requirement $0
TOTAL PLANNED INVESTMENT $10,000
Loss at Start-up (Start-up Expenses) ($28,730)
TOTAL CAPITAL ($18,730)
TOTAL CAPITAL AND LIABILITIES $81,270
Total Funding $110,000
Need real financials
 

We recommend using LivePlan as the easiest way to create automatic financials for your own
business plan.
 
Important Assumptions

We assume a stable economy with reasonable growth and a steady rise in interest rates. We also
assume that our competitors won't adopt our strategy within the first two years.  After that, our
approach is likely to make a change in what our competitors charge for digital files, because
they'll see it's effective in bringing in repeat business as well as new business. 
Break-even Analysis

The average monthly expenses are shown in the table below. With low average direct unit costs,
we will need to make the monthly sales displayed to break even. We expect to pass the break-
even point in May.

 
BREAK-EVEN ANALYSIS
Monthly Units Break-even 26
Monthly Revenue Break-even $7,812
Assumptions:
Average Per-Unit Revenue $298.87
Average Per-Unit Variable Cost $48.03

24
Estimated Monthly Fixed Cost $6,557
Key Financial Indicators

The benchmarks chart, below, shows a quick comparison of Sales, Gross Margin %, and
Operating Expenses over the next three years. Although Operating Expenses will rise slightly in
future years, they are not rising proportionally with sales growth. The higher operating cost ratio
in the first reflects the higher costs of advertising to establish visibility at the start of the
business.

Projected Profit and Loss

This business is projected to become profitable in May 2017, after the start-up advertising is
completed and customers begin to discover the service. For the year 2017, the business will be
profitable. It will grow at a vigorous rate over the next two years. 

Our utility costs include monthly charges for high-speed Internet access via a corporate account,
which will essential to delivering our finished images to most of our customers.

The optimum level of profitability for this one-photographer shop is reached in 2018. Our profit
margins are much higher than the industry average because of our innovative product-delivery
options - digital images require no film, no paper, and no chemicals, just storage units (CDs and
DVDs) and delivery (computer and Internet access).

25
PRO FORMA PROFIT AND LOSS
YEAR 1 YEAR 2 YEAR 3
Sales $131,800 $188,600 $267,200
Direct Cost of Sales $21,180 $27,360 $35,720
Other Costs of Sales $0 $0 $0
TOTAL COST OF SALES $21,180 $27,360 $35,720
Gross Margin $110,620 $161,240 $231,480
Gross Margin % 83.93% 85.49% 86.63%
Expenses
Payroll $42,000 $44,000 $50,000
Marketing/Promotion $7,100 $4,800 $4,800
Depreciation $15,960 $15,960 $15,960
Rent $9,600 $10,000 $10,400
Utilities $1,200 $1,200 $1,200
Maintenance of Cameras and Equipment $600 $800 $1,000
Offsite file backups and support $720 $1,000 $1,000
Software upgrades $0 $500 $800
Insurance $300 $300 $300
Payroll Taxes $0 $0 $0
Other $1,200 $1,200 $1,200
Total Operating Expenses $78,680 $79,760 $86,660
Profit Before Interest and Taxes $31,940 $81,480 $144,820
EBITDA $47,900 $97,440 $160,780
Interest Expense $9,376 $8,223 $6,923
Taxes Incurred $6,769 $21,977 $41,369
Net Profit $15,795 $51,280 $96,528
Net Profit/Sales 11.98% 27.19% 36.13%
Projected Cash Flow

Cash reserves reach the minimum point in March 2017.  From that point, cash flow is positive,
reaching a robust level by the end of 2018.

As sales increase, we will supplement our prop and furniture inventory with the purchase of new
items as current assets.

PRO FORMA CASH FLOW

26
 YEAR 1 YEAR 2 YEAR 3
Cash Received
Cash from Operations
Cash Sales $131,800 $188,600 $267,200
SUBTOTAL CASH FROM OPERATIONS $131,800 $188,600 $267,200
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
SUBTOTAL CASH RECEIVED $131,800 $188,600 $267,200
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $42,000 $44,000 $50,000
Bill Payments $52,845 $76,202 $102,464
SUBTOTAL SPENT ON OPERATIONS $94,845 $120,202 $152,464
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $11,520 $12,500 $13,500
Purchase Other Current Assets $0 $0 $2,000
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
SUBTOTAL CASH SPENT $106,365 $132,702 $167,964
Net Cash Flow $25,435 $55,898 $99,236
Cash Balance $36,205 $92,103 $191,339
Projected Balance Sheet

Net worth becomes positive in the second year. It then steadily builds through the end of this
plan, in 2008. There is an excellent return on equity by the third year.

PRO FORMA BALANCE SHEET

YEAR 1 YEAR 2 YEAR 3

27
Assets
Current Assets
Cash $36,205 $92,103 $191,339
Other Current Assets $10,000 $10,000 $12,000
TOTAL CURRENT ASSETS $46,205 $102,103 $203,339
Long-term Assets
Long-term Assets $60,500 $60,500 $60,500
Accumulated Depreciation $15,960 $31,920 $47,880
TOTAL LONG-TERM ASSETS $44,540 $28,580 $12,620
TOTAL ASSETS $90,745 $130,683 $215,959
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $5,200 $6,358 $8,606
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
SUBTOTAL CURRENT LIABILITIES $5,200 $6,358 $8,606
Long-term Liabilities $88,480 $75,980 $62,480
TOTAL LIABILITIES $93,680 $82,338 $71,086
Paid-in Capital $10,000 $10,000 $10,000
Retained Earnings ($28,730) ($12,935) $38,345
Earnings $15,795 $51,280 $96,528
TOTAL CAPITAL ($2,935) $48,345 $144,873
TOTAL LIABILITIES AND CAPITAL $90,745 $130,683 $215,959
Net Worth ($2,935) $48,345 $144,873
Need real financials

Business Ratios

Phoebe's Photo Studios is part of the photographic portrait studio industry (SIC Code
7221). Industry standard growth is currently 7.3% annually. Phoebe's Photo Studio is projected
to grow weed-like annually by seizing its target market early and building on it.

Long-term assets are a smaller percentage of this business because expensive printing equipment
isn't required. High resolution printing will be outsourced and is included under Cost of Goods
Sold.

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RATIO ANALYSIS

29
 YEAR 1 YEAR 2 YEAR 3 INDUSTRY
PROFILE
Sales Growth n.a. 43.10% 41.68% 7.32%
Percent of Total Assets
Other Current Assets 11.02% 7.65% 5.56% 51.55%
Total Current Assets 50.92% 78.13% 94.16% 71.67%
Long-term Assets 49.08% 21.87% 5.84% 28.33%
TOTAL ASSETS 100.00 100.00% 100.00 100.00%
% %
Current Liabilities 5.73% 4.87% 3.99% 24.01%
Long-term Liabilities 97.50% 58.14% 28.93% 21.85%
Total Liabilities 103.23% 63.01% 32.92% 45.86%
NET WORTH -3.23% 36.99% 67.08% 54.14%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 83.93% 85.49% 86.63% 100.00%
Selling, General & Administrative Expenses 71.95% 58.30% 50.51% 76.37%
Advertising Expenses 0.00% 0.00% 0.00% 1.11%
Profit Before Interest and Taxes 24.23% 43.20% 54.20% 5.49%
Main Ratios
Current 8.89 16.06 23.63 1.89
Quick 8.89 16.06 23.63 1.37
Total Debt to Total Assets 103.23% 63.01% 32.92% 53.64%
Pre-tax Return on Net Worth - 151.53% 95.19% 11.50%
768.74%
Pre-tax Return on Assets 24.87% 56.06% 63.85% 24.81%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 11.98% 27.19% 36.13% n.a
Return on Equity 0.00% 106.07% 66.63% n.a
Activity Ratios
Accounts Payable Turnover 11.16 12.17 12.17 n.a
Payment Days 27 27 26 n.a
Total Asset Turnover 1.45 1.44 1.24 n.a
Debt Ratios
Debt to Net Worth 0.00 1.70 0.49 n.a
Current Liab. to Liab. 0.06 0.08 0.12 n.a
Liquidity Ratios

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Net Working Capital $41,005 $95,745 $194,73 n.a
3
Interest Coverage 3.41 9.91 20.92 n.a
Additional Ratios
Assets to Sales 0.69 0.69 0.81 n.a
Current Debt/Total Assets 6% 5% 4% n.a
Acid Test 8.89 16.06 23.63 n.a
Sales/Net Worth 0.00 3.90 1.84 n.a
Dividend Payout 0.00 0.00 0.00 n.a

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 CHAPTER 5

RESEARCH FINDINGS

32
 RESEARCH FINDINGS

 Realistically, I don’t need all this space (a 1,500 square foot of shooting space would be
more than adequate for my commercial work) but investing in this larger space allowed
for the growth of our photography training business and expansion into video work. It has
also meant we have been able to hold live talk shows and workshops as well as film more
content for our website.
 In addition I’ve been able to rent the studio out for others to use or for shoots, events and
film production which has generated an extra source of income. Together, these have
made the additional space an asset, rather than just a luxury.
 I found my current studio while it was still in the construction phase, which meant I had
the opportunity to make my own requests and changes. That’s another plus to owning
your own studio — you can change it as you like. One of the features we’ve installed in
ours in an infinity cove (or cyclorama), which many of our members will be familiar with
having watched our courses.

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RECOMMENDATION/RESEARCH SCOPE /LIMITATIONS/
CONCLUSION

34
 RECOMMENDATION

We got married in January, 2018. Living overseas in New Zealand and trying to co-ordinate a
wedding in Mumbai is a very stressful affair. True shades photography are true professionls and
deliver what is promised. They went over and beyond to meet our needs. The crew members are
extremely friendly and made us feel super relaxed on the day. The photos and videos are of a
high quality and a reflection of excellent workmanship. Keith and I highly recommend choosing
Arshid and his amazing team for your special day!!

The True shades team is a group of extremely sweet and co-operative people, they looked into
our needs and preferences with a lot of care and concern, Arshid personally took a keen interest
in the filming of our pre-wedding movie and the wedding movie, they understood exactly what
we needed and gave an amazing compilation of memories we love going through all the time.
Not to forget they are also extremely punctual and very prompt with the deadlines given.

I had a few shots in mind which I wanted for my wedding but in the rush didnt really have the
time to convey but to my surprise the photos have come just the way I wanted them to be!!
Very happy with their.

35
 RESEARCH SCOPE

 Press Photographers or Photo Journalists provide the press with pictures that are relevant
to the daily news and events. This kind of photography is best done instinctively. Hence,
you need to be spontaneous and know what kind of a picture would best illustrate your
article. If you are adventurous and willing to work under difficult conditions when
needed, then this field is probably for you.

 Fashion Photography is the field where one works for fashion houses, designers or
individual models. To be a part of this glamorous world, you must have knowledge about
latest fashion trends and you should be willing to be experimental and creative. Portrait
Photographers are people-oriented photographers who click snaps of individuals. The
subjects range from children to pets, functions to social events etc. You can also
specialize as wedding photographers.

 Industrial Photographers click photographs of machinery, merchandise, industrial layout,

workers at work etc. to be used for company publications and for the purposes of
advertising and selling.

 Feature Photographers narrate an entire story through the medium of photographs. Hence
to be a feature photographer, you have to have extensive knowledge of the subject that
you are dealing with and you should be willing to work at any given time and place.

36
 LIMITATION

1. Always try to use natural lighting. If there is no enough natural light inside the room, find

a way to let some in. Open windows and doors.

2. Use only flash when it is absolutely necessary. Use filters to soften its effects on your

subject. Make the flash bounce off the wall or direct it to the ceiling.

3. If there are other light sources in the area, use them. Choose the ones that are like-

colored.

37
 CONCLUSION

Photography is more than a documentation process it is more, it is an art form and should be
treated with the same respect as painting, sculpture, and the other well known art forms.
Photography deserves respect, its presence and influence in the art world in equivalent to the
other forms of art.

If someone were to choose what the most important thing in photography they would say light
exposure. It's a given idea, if you don't have good lighting in your photo then it isn't a quality
photo. Light can give that dreamlike, golden look, and if you get the sun and focus the right way
you can get the bokeh effect, which plenty of photographers enjoy. My primary resource was an
email written to a family friend named Beth Hutter, who is a professional photographer, she has
her own website and studio. (bb-photography.com). I chose the question of 'What are the main
points to become a good photographer?' because I want to take on photography as a hobby of my
own and with that, hopefully manage a successful YouTube account. I learned that some of the
most important things to become a good photographer is know your camera, focus on the light
exposure, practice, and learn more from other photographers. In conclusion, photography has a
lot of main points, but it's the little things that count the most. Photography is researched plenty
and a lot of people would like tot all on the photography career, as a main job or even a little
hobby. A getaway.

38
BIBLIOGRAPHY

39
 BIBLIOGRAPHY

 Wendl, Tobias. "Visions of modernity in Ghana: Mami Wata shrines, photo studios and
horror films." Visual Anthropology 14.3 (2001): 269-292.

 Canaday, John. Mainstreams of modern art. Wadsworth Publishing Company, 1981.

 Behrend, Heike. "Love à la Hollywood and Bombay in Kenyan studio
photography." Paideuma (1998): 139-153.

 Bota, Josip, Diana Milčić, and Davor Donevski. "Quality of photographic reproduction
and comparison of digital photo studios." International conference of printing, design and
graphic communications Blaž Baromić (11; 2007). 2007.

 Lee, KyungUhn. "Photo Studios toward the Digital Photographic Era: The Cases of
Three Photographers in Kansai Area, Japan." 文芸学研究 20 (2016): 120-121.

 Khan, Farhat Basir, and Amit Chawla. "INDIAN PHOTO STUDIOS: A STUDY OF
COMMERCIAL ACTIVITIES." International Journal of Management Research and
Reviews 4.12 (2014): 1145.

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 PROJECT GUIDE COMMENTS

SIGNATURE OF THE GUIDE:

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