NAME:

OJOFOLAKEMIABI
GAI
L

MATRI
CNO:
18/
LAW01/
170

COLLEGE:
LAW

COURSECODE:
GST212

COURSETITLE:
INTRODUCTIONTO
ENTREPRENEURIALSKI
LLS

LEVEL:
200
TI
TLE:BUSI
NESSPLANFORFLAKESCOMMERCI
ALPHOTOGRAPHY

PREPAREDBY:
JDSTUDI
OS CONSULTANTS

FOR:
FLAKESMEDI
ACOMPANYLI
MITED

NOTE:
KINDLYENSURETHATTHEDATA/
INFORMATI
ONI
NTHI
SDOCUMENTSARE
KEPTCONFI
DENTI
ALLY
 TABLEOFCONTENTS

1.EXECUTI
VESUMMARY

2.I
NTRODUCTI
ON

3.DESCRI
PTI
ONOFTHEVENTURE

4.I
NDUSTRYANALYSI
S

5. MARKETANALYSI
S

6.STRATEGI
CANDI
MPLEMENTATI
ONPLANNI
NG

7.MANAGEMENTSUMMARY

8.FI
NANCI
ALPLAN

9.EVALUATI
ON,
RECOMMENDATI
ONANDCONCLUSI
ON
 EXECUTI
VESUMMARY

Fl
akesCommer
cial
Phot
ogr
aphy
,locat
edi
nandser
vingOy
oSt
ate,
Niger
ia,
wil
lser
ve
smal
landmedi
um-
sizedbusi
nessesandnon-
prof
it
sforal
loft
hei
rst
udi
o
phot
ogr
aphyneedsby
 cr
eat
ingbeaut
if
ulshot
sthatser
vet
hecl
i
ent
'sneeds,
of
fer
ing 
excel
l
entser
viceandf
lexi
bil
i
tywi
thaper
sonal
touch,
andof
fer
ingv
alue-
addedser
vicesr
elat
edt
ophot
ogr
aphy
.Foundedanddi
rect
edbyv
eter
anf
reel
ance
commer
cial
phot
ogr
apherFol
akemi
Ojo,
FlakesCommer
cial
Phot
ogr
aphyi
ntendst
o
r
aisebyaddi
ngl
i
mit
edpar
tner
stot
hebusi
nessi
nor
dert
oopenast
udi
ospace,
hir
e
st
aff
,andunder
goanewmar
ket
ingcampai
gn.Fl
akesCommer
cial
Phot
ogr
aphy
seekst
oent
ert
het
opt
hreecommer
cial
phot
ogr
aphypr
ovi
der
sint
heAkobo,
Oyo
St
atemet
ropol
i
tanar
eawi
thi
nfi
vey
ear
s.

Weseekt
heobj
ect
ivet
obei
nthet
opt
hreecommer
cial
phot
ogr
aphyst
udi
osi
n
t
ermsofmar
ketshar
e.Fl
akesCommer
cial
Phot
ogr
aphyseekst
oser
vesmal
land
medi
um-
sizedbusi
nessesandnon-
prof
it
sforal
loft
hei
rst
udi
ophot
ogr
aphyneeds
by
 cr
eat
ingbeaut
if
ulshot
sthatser
vet
hecl
i
ent
'
sneeds,
off
eri
ng 
excel
l
entser
vice
andf
lexi
bil
i
tywi
thaper
sonal
touch,
andof
fer
ingv
alue-
addedser
vicesr
elat
edt
o
phot
ogr
aphy
.Fl
akesi
ntendst
oof
ferper
sonal
i
zedser
vicet
omakei
teasyf
orsmal
l
busi
nessest
oout
sour
cet
hei
rphot
ogr
aphyneedsandest
abl
i
shi
ngFl
akes
Phot
ogr
aphyasf
lexi
blet
otheneedsofsmal
landmedi
um-
sizedbusi
nesses,
of
fer
ingar
angeofaddi
ti
onal
ser
vices,
suchaspr
int
ing,
phot
oedi
ti
ng,
frami
ng,
and
pr
oduct
ionofphot
osi
nav
ari
etyofdi
git
alf
ormat
s.Maki
ngbusi
nessesf
eel
athome
i
nourst
udi
oandpar
toft
hecr
eat
ivepr
ocess.

I
NTRODUCTI
ON
Fl
akesCommer
cial
Phot
ogr
aphywi
l
lbebasedi
naconv
eni
ent
ly-
locat
edst
udi
o
spacewi
thi
nhal
fanhourofdownt
ownAkobo,
Ibadan.
 The 
companywasf
ounded 
by
Fol
akemi
Ojoi
n1999.Formor
ethant
eny
ear
s,Fl
akeshasoper
atedasaf
reel
ance
phot
ogr
apherspeci
ali
zi
ngi
ncommer
cial
shoot
s,est
abl
i
shi
ngar
eput
ati
onamong
smal
lbusi
nessesasapr
ofessi
onal
andt
alent
edphot
ogr
apher
.Ov
ert
hist
ime,
Fl
akes'
sbusi
nesshasst
eadi
l
ygr
own,
incl
udi
ngav
ari
etyofr
etur
ningcl
i
ent
swhor
ely
onFl
akesf
ort
hei
rpr
oductphot
ogr
aphyf
orpamphl
ets,
 
brochur
es,
 
websi
tes,
and
ot
hermar
ket
ingcol
l
ater
al.Fl
akeshasoper
atedwi
thoutadev
otedst
udi
odur
ingt
his
t
ime,
trav
eli
ngt
ocl
i
entsi
tesandset
ti
ngupa 
studi
ospacewher
everpossi
ble.

DESCRI
PTI
ONOFTHEVENTURE

Fl
akesCommer
cial
Phot
ogr
aphywasest
abl
i
shedasasol
epr
opr
iet
orshi
pin1999
andi
scur
rent
lybei
ngr
e-est
abl
i
shedasal
i
mit
edl
i
abi
l
itypar
tner
shi
ptof
aci
l
itat
ethe
par
ti
cipat
ionofi
nvest
ingpar
tner
s.Cur
rent
ly,
all
shar
esofFl
akesCommer
cial
Phot
ogr
aphyar
eownedbyFol
akemi
Ojo.St
art
-upexpensesi
ncl
udet
hel
egal
fees
associ
atedwi
thr
e-i
ncor
por
ati
ngt
hebusi
ness,
per
mit
sassoci
atedwi
thast
udi
o
space,
andt
hebui
l
d-outoft
hest
udi
ospace.Mar
ket
ingi
ncl
udesapr
omot
ional
campai
gnt
oal
ertcust
omer
sandpot
ent
ial
cust
omer
stot
heser
vicesandcapaci
ty
Fl
akesCommer
cial
Phot
ogr
aphyi
saddi
ng.Renti
ncl
udest
womont
hsofst
udi
orent
t
ocov
ert
hebui
l
d-outper
iodand 
twoaddi
ti
onal
mont
hsf
orasecur
it
ydeposi
t.Long-
t
erm asset
sincl
udeaddi
ti
onal
phot
ogr
aphyequi
pment(
camer
as,
tri
pods,
backdr
ops,
Fl
akeses,
li
ght
ing)t
hatmustbepur
chased.

I
NDUSTRYANALYSI
S

Fl
akesCommer
cial
Phot
ogr
aphyhasexi
stedf
oraconsi
der
abl
enumberofy
ear
s.
Wi
thl
ackofgov
ernment
ssuppor
ttowar
dsphot
ogr
aphy
,Fl
akescommer
cial
Phot
ogr
aphyshal
lcont
inuet
obet
hedomi
nantphot
ogr
aphyi
ndust
ryi
nit
sent
ir
ety
.
Howev
er,
Ser
vicest
obeof
fer
edi
ncl
udet
hef
oll
owi
ng:

1.St
udi
ocommer
cial
phot
ogr
aphy
2.On-
sit
ecommer
cial
phot
ogr
aphy
3.Setdr
essi
ngser
vicesf
orphot
oshoot
s
4.Phot
oedi
ti
nganddi
git
aledi
ti
ngwor
k
 5.Del
i
ver
yofpr
int
sordi
git
alf
il
esofphot
oshoot
s
6.Fr
ami
ngofphot
os
7.Webpor
tal
toaccessdi
git
alf
il
esf
rom shoot
sandmanageedi
ti
ngpr
ocess
wi
thcl
i
ent
s
8.Rent
aloft
hest
udi
ospacet
osubcont
ract
orswhent
ime 
all
ows

I
nthef
utur
e,asaddi
ti
onal
staf
far
eadded,
ther
ear
epl
anst
oof
fergr
aphi
cdesi
gn
ser
vicesf
ort
hephot
ost
aken,
andt
oexpandt
oamul
ti
-r
oom st
udi
otoal
l
owf
or
mul
ti
pleshoot
ssi
mul
taneousl
y.

MARKETANALYSI
S

Themar
ketf
orcommer
cial
phot
ogr
aphyi
ncl
udesal
lbusi
nessesandnon-
prof
it
s.For
Fl
akesCommer
cial
Phot
ogr
aphy
,thet
argetmar
ket
 i
ssmal
landmedi
um-
sized
busi
nessesandnon-
prof
it
s(t
hosewi
thunder500empl
oyees)basedwi
thi
na15mi
l
e
r
adi
usofAkobo,
OyoSt
ate.I
nthepastt
woy
ear
s,t
hemar
ketf
orcommer
cial
phot
ogr
aphyi
nAkobo,
OyoSt
atehascont
ract
edduet
other
ecenteconomi
c
downt
urn.Smal
landmedi
um-
sizedbusi
nesseswhi
chf
ormer
lyusedl
arge
commer
cial
studi
oscannol
ongeraf
for
dthei
rrat
es.Thi
shascr
eat
edanoppor
tuni
ty
f
orsmal
l
erphot
ogr
aphyst
udi
oswi
thl
owerov
erheadandpr
icest
oser
vet
hismar
ket
andsei
zemar
ketshar
eint
imef
oramar
ketupswi
ng.

MARKETSEGMENTATI
ON

Ver
ySmal
lBusi
nesses:
Thesebusi
nessesar
egener
all
yrunbyt
hei
rowner
s.
Phot
ogr
aphyneedst
endt
obef
ort
hei
rbasi
cmar
ket
ingcol
l
ater
al(
signs,
menus,
pamphl
ets,
brochur
es,
websi
tes,
newsl
ett
ers,
etc.
).Thesebusi
nessesgener
all
ybegi
n
byt
aki
ngt
hesephot
ogr
aphsi
n-house,
but
,ov
ert
ime,
det
ermi
net
hatt
hismet
hod
pr
oducessub-
standar
dresul
ts.Theyt
henseeki
nexpensi
vef
reel
ancephot
ogr
apher
s
whocanqui
ckl
yhandl
ethei
rneeds.

Smal
lBusi
nesses:
Thesebusi
nesseshav
eongoi
ngandr
egul
arneedsf
or
phot
ogr
aphyoft
hei
rpr
oduct
sandser
vices,
suchasquar
ter
lycat
alogs.They
appr
eci
ateest
abl
i
shi
ngr
elat
ionshi
pswi
thv
endor
swhounder
standt
hei
rwayof
wor
king,
all
owt
hem accesst
othecr
eat
ivepr
ocess,
andr
educet
hest
ressof
cr
eat
ingmar
ket
ingmat
eri
als.Theypr
efert
owor
kwi
thonev
endorf
oral
l
phot
ogr
aphyneedsandwi
l
lber
eluct
antt
ochanget
hatv
endoroncei
tisf
ound.
Howev
er,
theydocont
inuet
ocheckt
hepr
icesoft
hei
rvendoragai
nstcompet
it
orst
o
makesur
etheyar
eget
ti
ngt
hepr
efer
redmi
xofqual
i
tyandpr
ice.

 
Medi
um Busi
nesses:
Thesebusi
nesseshav
emar
ket
ingdepar
tment
swhi
ch
out
sour
cephot
ogr
aphyt
ophot
ost
udi
os.Theyhav
eahi
gherv
olumeofphot
ogr
aphy
needst
hansmal
l
erbusi
nessesandpaygr
eatat
tent
iont
othequal
i
tyoft
hei
mages
aswel
last
hepr
ice.Vol
umedi
scount
smaybeneededt
oret
ainbusi
nessesi
nthi
s
cat
egor
y.

Tar
getMar
ketSegmentSt
rat
egy

Lar
gerbusi
nessesi
ntheAkoboar
eaar
eser
vedbyl
argest
udi
oswhocansend
phot
ogr
apher
stot
hecl
i
entsi
teorsetupshoot
swi
thl
i
ttl
enot
ice.Thesebusi
nesses
r
equi
rephot
ogr
aphyv
endor
swi
tht
hecapaci
tyt
oshooti
nmul
ti
plel
ocat
ionsatt
he
samet
ime.Smal
l
erbusi
nesses,
ont
heot
herhand,
arecomf
ort
abl
ewor
kingwi
th
smal
l
erphot
ogr
aphyst
udi
os.Theyar
egener
all
yunhappywi
thl
argerst
udi
os,
ast
hey
f
indt
heyar
enotapr
ior
it
ycompar
edwi
tht
hel
argercl
i
ent
soft
hest
udi
o.Theywant
t
hesamel
evel
ofser
vice,
scal
edt
otheneedsandbudgetoft
hei
rbusi
ness,
andonl
y
asmal
l
erst
udi
ocanpr
ovi
det
his.Fur
ther
mor
e,l
argerbusi
nessesof
tenbr
ingagr
eat
deal
ofphot
oedi
ti
ngwor
kin-
houset
othei
rmar
ket
ingdepar
tment
s.Smal
l
er
busi
nessesv
aluet
heabi
l
ityofaphot
ost
udi
otohandl
ethi
swor
kast
hei
rmar
ket
ing
ordesi
gndepar
tment
sof
tendonothav
ethecapaci
tyt
odeal
wit
hthi
swor
kwhen
newmat
eri
alsar
ebei
ngdev
eloped.Medi
um andsmal
lbusi
nessescanpr
ovi
de
ongoi
ngwor
k.Howev
er,
wit
houtser
vingv
erysmal
lbusi
nesses,
Flakeswi
l
lmi
ssout
oncapt
uri
ngsmal
l
ercust
omer
sbef
oret
heygr
ow.Wor
kingwi
thv
erysmal
l
busi
nessescanal
sopr
ovi
deawi
debaseofcust
omer
s,maki
ngt
her
evenuest
reams
oft
hebusi
nessl
esssuscept
ibl
etot
hel
ossofanyonecust
omer
.

Ser
viceBusi
nessAnal
ysi
s
Thecommer
cial
phot
ogr
aphyi
ndust
ryi
schar
act
eri
zedbyl
ocal
phot
ost
udi
oswhi
ch
ser
veci
ti
esorsmal
lregi
ons.Ver
yfewbusi
nessesgr
owbey
ondt
hisgeogr
aphi
c
r
ange.Wi
thi
nal
ocal
mar
ket
,suchasAkobo,
OyoSt
ate,
ther
ear
edozensofphot
o
st
udi
osi
noper
ati
on.Busi
nessesseekphot
ogr
aphyv
endor
sthr
ough
r
efer
ral
s,
 i
nter
netsear
ch,
andt
hel
ocal
yel
l
owpages.Phot
ogr
aphyst
udi
osgener
all
y
baset
hei
rchar
gesont
het
imeoft
heshootaswel
last
henumber
 ofedi
tedphot
os
pr
ovi
ded.
 Speci
fi
ccompet
it
orsf
orFl
akesCommer
cial
Phot
ogr
aphyi
ncl
ude:
Redwood,
ImageMaker
s,Shot
sPhot
ogr
aphy
.

Compet
it
ionandBuy
ingPat
ter
ns:
Ther
ear
ever
y f
ewbar
ri
erst
oent
ryi
ntot
he
commer
cial
phot
ogr
aphybusi
ness.At
 t
hel
ow-
endoft
hemar
ket
,fr
eel
ance
phot
ogr
apher
swi
thi
nex
pensi
vedi
git
alcamer
asst
artwor
kof
fi
cial
l
yandunof
fi
cial
l
y
ev
eryday
.Howev
er,
att
hehi
ghendoft
hemar
ket
,qual
i
typhot
ogr
apher
swor
king
wi
tht
hebestequi
pmentandast
udi
ospacear
epr
otect
edbyt
hecapi
tal
requi
redt
o
pur
chaseequi
pmentandt
orentandbui
l
doutast
udi
o.Cust
omer
samongsmal
land
medi
um-
sizedbusi
nessesseekl
owpr
ices,
butwi
l
lnotsacr
if
icequal
i
ty.Thebest
qual
i
tyi
sobt
ainedi
nthecont
rol
l
edenv
ironmentofast
udi
o,wi
thwel
l
-tr
ained
phot
ogr
apher
sandhi
gh-
qual
i
tyequi
pment
.Cust
omer
schoosebet
weenphot
o
st
udi
osbasedont
hei
rwebsi
tesandpor
tfol
i
osofwor
k,aswel
last
heper
sonal
assur
ancesoft
hesal
esper
sont
heywor
kwi
thatt
hest
udi
othatt
hei
rneedswi
l
lbe
t
akencar
eof
.Wor
dofmout
hisext
remel
yimpor
tantf
ort
hisbusi
ness.Whi
l
ethe
pr
oductoft
hewor
kbecomesv
eryv
isi
ble,
iti
simpor
tantt
hatcust
omer
sfeel
so
st
rongl
yaboutt
heexper
ienceofwor
kingwi
tht
hei
rphot
ost
udi
othatt
heyt
alkabout
i
ttoot
herbusi
nessesandcont
act
s.Theser
efer
ral
sar
eext
remel
yhel
pful
in
gener
ati
ngbusi
ness.

STRATEGYANDI
MPLEMENTATI
ONSUMMARY

Tobui
l
dit
sreput
ati
onasaqual
i
tychoi
cef
orcommer
cial
phot
ogr
aphyi
ntheAkobo,
Oy
oSt
atemar
ket
,Fl
akesCommer
cial
Phot
ogr
aphywi
l
lfocusonsmal
landmedi
um-
si
zedbusi
nesses.Thesei
ncl
ude:

1. Ver
ySmal
lBusi
nesses(
under20empl
oyees)
2. Smal
lBusi
nesses(
20t
o200empl
oyees)
3. Medi
um Busi
nesses(
200t
o500empl
oyees)
Tor
eacht
heset
argetmar
ket
s,Fl
akeswi
l
luseemai
lmar
ket
ing,
busi
nessnet
wor
king,
andwebmar
ket
ingt
ofi
ndcl
i
ent
sandt
oensur
ethatcl
i
ent
sfi
ndFl
akes.TheCEO,
Oj
oFol
akemi
,wi
l
lsel
ltocl
i
ent
s,andbot
hheandanaddi
ti
onal
team ofassi
stant
phot
ogr
apher
swi
l
lbeassi
gnedt
ocl
i
entphot
oshoot
sint
heFl
akesst
udi
oand,
when
needed,
atcl
i
entsi
tes.

Compet
it
iveEdge:
FlakesCommer
cial
Phot
ogr
aphyhasacompet
it
iveedgef
rom t
he
r
eput
ati
onofFol
akemi
Flakesi
nthebusi
nesscommuni
tyasahi
gh-
qual
i
ty
phot
ogr
apherwhoi
seasyt
owor
kwi
thandat
tent
ivet
otheneedsofcl
i
ent
s.Fl
akes
wi
l
lcont
inuet
odev
elopt
hiscompet
it
iveedgebyt
rai
ningaddi
ti
onal
phot
ogr
apher
s
wi
thhi
ssi
gnat
urest
yleofphot
ogr
aphyandhi
ghat
tent
iont
ocust
omerser
vice.

Mar
ket
ingSt
rat
egy
:Themar
ket
ingst
rat
egyf
orFl
akesCommer
cial
Phot
ogr
aphyi
s
basedont
hebel
i
eft
hatusi
ngaf
ewmar
ket
ingt
act
icsext
remel
ywel
li
spr
efer
abl
eto
usi
ngmanymar
ket
ingt
act
icswi
thmoder
atesuccesswi
theach.Thef
oll
owi
ngar
e
component
soft
hei
nit
ial
mar
ket
ingcampai
gn:

 
Emai
lMar
ket
ing:
Emai
l
inganewbusi
nessannouncementandt
henmont
hly
newsl
ett
erswi
thdet
ail
sonnewpackages,
thedev
elopmentoft
hest
udi
o,andnew
hi
rest
opastcl
i
ent
sand 
othert
arget
sint
hebusi
nesscommuni
ty.Newsl
ett
erswi
l
l
i
ncl
udehel
pful
tipsonhowt
ousephot
ogr
aphyandt
hiswi
l
lbeusedt
ogai
n
per
missi
onf
rom mar
ket
ingdepar
tment
satpr
ospect
ivecl
i
entbusi
nessest
obesent
t
henewsl
ett
ers.Wi
thi
ntheseemai
l
swi
l
lbecal
l
stoact
iont
oencour
agebusi
ness
r
efer
ral
s.

 
Busi
nessNet
wor
king:
OjoFol
akemi
wil
lpr
omot
ethebusi
nesst
hrought
hel
ocal
chapt
erofBNI(
Busi
nessNet
wor
kingI
nter
nat
ional
),t
heChamberofCommer
ce,
and
t
heAkoboBusi
nessOwner
'sAssoci
ati
on.Thr
ought
hesemeet
ings,
Flakeswi
l
l
i
ntr
oducehi
scompany
'swor
ktoot
herbusi
nessowner
s,shar
eleadsonbusi
ness,
andr
ecei
vebot
hexposur
eandqual
i
fiedr
efer
ral
s.Toencour
agemember
sof
net
wor
kinggr
oupst
ouseFl
akes'
sser
vicessot
hatt
heyar
eeducat
edr
efer
rer
s,
Fl
akeswi
l
lof
fera25%di
scountonser
vicest
omember
soft
henet
wor
kinggr
oupon
t
hei
rfi
rstpur
chase.

WebMar
ket
ing:
FlakesPhot
ogr
aphywi
l
lpur
chasesear
chengi
neadv
ert
isi
ngwi
th
Googl
eAdwor
dsar
oundcommer
cial
phot
ogr
aphykey
wor
dsf
ort
heAkobomar
ket
andgeari
tsadv
ert
isement
stowar
dst
heneedsofsmal
landmedi
um-
sized
busi
nesses.Fur
ther
mor
e,Fl
akesPhot
ogr
aphy
'swebsi
tewi
l
lbeopt
imi
zedf
orhi
gher
sear
chengi
ner
anki
ngundert
hesekey
wor
ds.

 
Sal
esSt
rat
egy
Thecompany
'ssal
esst
rat
egyi
stout
il
izet
heexper
ienceofFol
akemi
Ojoas
sal
esper
son.
 Fl
akeswi
l
lbeabl
etoassur
ecl
i
ent
sofwhatt
hecompanyandi
ts
phot
ogr
apher
scanaccompl
i
shasal
lwi
l
lbeper
sonal
l
ytr
ainedbyhi
m.Toi
ncr
ease
t
hecl
osi
ngr
ateofpr
ospect
s,Fl
akeswi
l
lmeetcl
i
ent
satt
hei
rbusi
nesseswhenev
er
possi
blet
ogobey
ondphoneconv
ersat
ions.Hewi
l
l 
useapor
tfol
i
oofi
magesand
t
est
imoni
als.Fl
akeswi
l
luseSal
esf
orce.
com as 
atool
tomanaget
hesal
espr
ocess,
andt
otr
ainaddi
ti
onal
sal
espeopl
ewhent
het
imecomes.Theschedul
i
ngand
f
ulf
il
lmentof
 ser
viceswi
l
lbeadmi
nist
eredbyt
heof
fi
cemanager
,whowi
l
luse
Sal
esf
orce.
com and 
Qui
ckBookst
omanage 
cli
ent
sandcapt
urei
nfor
mat
ionr
elat
ed
t
oor
der
s.St
andar
d pr
ocedur
esf
oror
derf
ulf
il
lmentwi
l
lbecr
eat
edbyFl
akesand
checkedonanongoi
ngbasi
s. 

Sal
esFor
ecast
:Sal
esf
orphot
oshoot
sar
eexpect
edt
odr
ivet
hebusi
nessandwi
l
l
gr
owwi
tht
hegr
owi
ngst
aff
.Addi
ti
onal
phot
ogr
apher
swi
l
lbehi
redt
omeett
heneed
f
ir
staspar
t-
ti
meandt
henasf
ull
-t
imest
aff
.Suppl
ement
aryr
evenuest
reamswi
l
lbe
phot
oedi
ti
ngser
vicesand 
pri
nti
ngandf
rami
ngofi
mages.Fi
nal
l
y,of
f-
hour
sfort
he
st
udi
owi
l
lber
ent
edf
orev
ent
sofot
herpur
posest
ocr
eat
east
eadymont
hlyst
ream
ofr
evenue.

Mi
l
est
ones:
Thepr
omot
ional
mar
ket
ingbef
oret
heopeni
ngoft
hest
udi
oisi
nat
wo
mont
hper
iodi
nwhi
chani
nit
ial
Webmar
ket
ingandemai
lmar
ket
ingcampai
gnwi
l
l
t
akepl
ace,
dir
ect
edbyt
heCEO,
wit
hsomehel
pfr
om t
hepar
t-
ti
meadmi
nist
rat
ive
assi
stant
,andmar
ket
ingv
endor
s(aWebmar
ket
ingspeci
ali
st)
.Fur
ther
mor
e,adswi
l
l
bepl
acedt
ospeci
fi
cal
l
yhi
ghl
i
ghtt
hest
udi
oasar
ent
alopt
ionf
orot
herusesl
i
ke
WebMar
ket
ingspeci
ali
stwi
l
lbehi
redt
oset
-upandmai
ntai
nGoogl
eAdwor
ds
campai
gnandt
oopt
imi
zewebsi
tef
orsear
chengi
nesandConst
antCont
actwi
l
lbe
usedt
omai
ntai
nemai
lmar
ket
ingwi
thannouncement
saboutt
hest
udi
oopeni
ng,
newst
aff
,andnewser
vices.
 MANAGEMENTSUMMARY

Oj
oFol
akemi
wil
lactasCEOofFl
akesCommer
cial
Phot
ogr
aphy
.Fl
akeshas
ext
ensi
vei
ndust
ry,
sal
es,
andoper
ati
onal
exper
ience.I
mmedi
atehi
reswi
l
lincl
ude
onepar
t-
ti
meassi
stantphot
ogr
apherandonepar
t-
ti
meadmi
nist
rat
iveassi
stant
.
TheCEOwi
l
lber
esponsi
blef
orsal
esandmar
ket
ing,
managementofal
lst
aff
,and
f
ulf
il
lmentofcl
i
entser
vices.Thef
ir
stpar
t-
ti
meassi
stantphot
ogr
apherwi
l
lbe
Ti
mot
hyAdeboy
e,ar
ecentgr
aduat
eoft
heSchool
ofVi
sual
Art
sandan
accompl
i
shedphot
ogr
aphernewt
oAkobo.Theassi
stantphot
ogr
apherwi
l
lassi
st
onshoot
sdur
ingt
rai
ningandbegi
ntot
aket
hel
eadonphot
oshoot
sov
ert
ime.He
wi
l
lmov
etof
ull
-t
imewi
thi
noney
eari
fsal
espr
oject
ionsar
emet
.Theadmi
nist
rat
ive
assi
stantwi
l
lber
esponsi
blef
orbookkeepi
ng(
account
spay
abl
eandr
ecei
vabl
e),
schedul
i
ngofshoot
sandl
abor
,andf
iel
dingcal
l
sforr
ent
aloft
hest
udi
oandi
nit
ial
sal
esi
nqui
ri
es.Heorshewi
l
lexecut
emar
ket
ingcampai
gns(
updat
ewebsi
te,
pri
nt
br
ochur
esandpor
tfol
i
os,
etc)
.Heorshewi
l
lof
fercust
omerser
vicet
oanswerbasi
c
quest
ionsbyphoneoremai
l
.

Per
sonnel
Plan

Fl
akesCommer
cial
Phot
ogr
aphywi
l
lbegi
nit
sexpansi
onwi
thonepar
t-
ti
me
assi
stantphot
ogr
apherandonepar
t-
ti
meadmi
nist
rat
iveassi
stant
,wi
tht
he
under
standi
ngt
hatbot
hposi
ti
onswi
l
lgr
owt
oful
l
-ti
meshor
tl
y.Eachy
earan
addi
ti
onal
assi
stantphot
ogr
apherwi
l
lbeadded.

FI
NANCI
ALPLAN

Thel
aunchoft
hebusi
nesswi
l
lbef
inancedbyt
hef
ounder
'si
nvest
mentandcr
edi
t
andbyi
nvest
ment
sfr
om l
i
mit
edpar
tner
s.I
nexchangef
orN159,
000i
nvest
menti
n
t
hebusi
nessatst
art
up,
li
mit
edpar
tner
swi
l
lrecei
ve49%owner
shi
pshar
es.The
i
nit
ial
fundi
ngr
equi
rement
sar
emodestf
ort
hebusi
ness.Thegr
owt
hoft
hebusi
ness,
bey
ondt
hef
ir
sty
ear
,wi
l
lbef
inancedbyt
hef
reecashf
lowsgener
atedbyt
he
busi
ness.Thi
swi
l
lal
l
owf
ort
heexpansi
onofst
afft
oincl
udeaddi
ti
onal
phot
ogr
apher
s,t
her
ampi
ngupofmar
ket
ingexpendi
tur
es,
andt
her
esul
ti
ngi
ncr
ease
i
nsal
es.Onl
yonephot
ogr
apherwi
l
lbeaddedpery
eari
nor
dert
omakesur
ethat
t
her
eist
imef
oradequat
etr
aini
ngofnewst
aff
.
St
art
-upFundi
ng

Fundi
ngf
ort
hebusi
nessi
sinpar
tfr
om per
sonal
loans,
credi
t 
car
ds,
 
andcash
i
nvest
mentbyt
heowner
,Oj
oFol
akemi
.Ther
emai
nderoff
undi
ngwi
l
lbef
rom 
onet
o
t
hree 
l
imi
tedpar
tner
sint
hef
orm ofequi
tyi
nvest
ment
.

St
art
-upFundi
ng

St
art
-upExpensest
oFund N73,
500

St
art
-upAsset
stoFund N138,
000

Tot
alFundi
ngRequi
red N211,
500

Asset
s

Non-
cashAsset
sfr
om St
art
-up N93,
000

CashRequi
rement
sfr
om St
art
- N45,
000
up

Addi
ti
onal
CashRai
sed N0

CashBal
anceonSt
art
ingDat
e N45000

Tot
alAsset
s N138,
000

Li
abi
l
iti
esandCapi
tal

Li
abi
l
iti
es

Cur
rentBor
rowi
ng N15,
000

Long-
ter
m Li
abi
l
iti
es N15,
000

Account
sPay
abl
e(Out
standi
ng N7,
500
Bi
l
ls)

Ot
herCur
rentLi
abi
l
iti
es N0
(
int
erest
-f
ree)
Tot
alLi
abi
l
iti
es N37,
500

Capi
tal

Pl
annedI
nvest
ment

Owner N45,
000

Li
mit
edPar
tner
s N159,
000

Addi
ti
onal
Inv
est
ment N0
Requi
rement

Tot
alPl
annedI
nvest
ment N174,
000

LossatSt
art
-up(
Star
t-
up (
N73,
500)
Expenses)

Tot
alCapi
tal N100,
500

Tot
alCapi
tal
andLi
abi
l
iti
es N138,
000

Tot
alFundi
ng N211,
500

Pr
oject
edPr
ofi
tandLoss

Gr
ossmar
ginsar
eexpect
edt
oremai
nconsi
stent
,asmostcost
soft
hebusi
nessar
e
notdi
rectcost
sofsal
es.Thegr
eat
estcostoft
heser
vicei
slabor
,whi
chi
spar
tof
sal
ari
esandnotcostofsal
es,
forexampl
e.I
nyear2,
prof
iti
sexpect
edt
odr
opas
capaci
tyi
sincr
easedt
opr
epar
eforgr
owt
h.Thi
swi
l
lrect
if
yinf
utur
eyear
sassal
es
comei
nli
newi
tht
hepay
rol
lexpenses.

Pr
oFor
maPr
ofi
tandLoss

Year1 Year2 Year3 Year4 Year5

Sal
es N1,
069,
908 N1,
176,
372 N1,
428,
000 N1,
800,
000 N2,
250,
000

Di
rect N212,
958 N241,
686 N326,
700 N427,
500 N562,
500
Cost
of
Sal
es

Ot
her N0 N0 N0 N0 N0
Cost
s
of
Sal
es

Pr
oject
edCashFl
ow

Cashf
lowi
sexpect
edt
obeposi
ti
veaf
tert
hef
ir
stmont
hofoper
ati
ons.Thi
sisdue
t
othef
actt
hatFol
akemi
Flakeshasapr
ovent
rackr
ecor
dandcanhi
tthegr
ound
r
unni
ngwi
thcont
inuedwor
kforex
ist
ingcl
i
ent
s. 
Cashr
eser
vesi
nthecompanywi
l
l
bei
ncr
easedov
ert
hef
ir
sty
eart
opr
epar
eforaddi
ti
onal
expansi
oni
nyeart
wo.

Pr
oFor
maCashFl
ow

Year1 Year2 Year3 Year4 Year5

CashRecei
ved

Cashf
rom
Oper
ati
ons

CashSal
es N213,
981 N235,
275 N285,
600 N360,
000 N450,
000

Cashf
rom N783,
177 N931,
053 N1,
124,
691 N1,
413,
819 N1,
768,
329
Recei
vabl
es

Pr
oject
edBal
anceSheet

Thebusi
nessi
spr
oject
edt
oshowgr
owt
hinr
etai
nedear
nings(
whi
chal
l
owf
or
di
vi
dendst
obepai
d)ast
her
ear
enotsubst
ant
ial
addi
ti
onal
capi
tal
 
expendi
tur
es
neededaf
tert
hel
aunch.Ther
ewi
l
lbeheal
thygr
owt
hinnetwor
thov
ert
hef
ir
stf
ive
y
ear
sofoper
ati
on,
asaddi
ti
onal
debti
snotr
equi
redt
ofundt
hebusi
ness.
Pr
oFor
maBal
anceSheet

Year1 Year2 Year3 Year4 Year5

Asset
s

Cur
rentAsset
s

Cash N150,
147 N268,
746 N365,
892 N501,
138 N683,
280

Account
sRecei
vabl
e N72,
747 N82,
794 N100,
503 N126,
684 N158,
355

Ot
herCur
rentAsset
s N3000 N3000 N3000 N3000 N3000

EVALUATI
ON,
RECOMMENDATI
ONANDCONCLUSI
ON

Thepr
ofi
tabi
l
ityoft
hecompanywi
l
lincr
easei
nabsol
utet
ermswi
thgr
owt
h.
Howev
er,
thegr
ossmar
ginsandnetpr
ofi
tmar
ginswi
l
lnoti
ncr
ease
dr
amat
ical
l
y ov
ert
imeast
headdi
ti
onal
growt
hinr
evenuesr
equi
resaddi
ti
onal
dir
ect
l
abor
.Tomai
ntai
nther
eput
ati
onoft
hecompany
,thi
slaborcannotbeper
for
medby
l
essski
l
led,
lower
-wagephot
ogr
apher
s.Asr
evenuesgr
owandaddi
ti
onal
phot
ogr
apher
sar
ehi
red,
theCEOwi
l
lfocusagr
eat
erper
cent
ageoft
imeonsal
es
andpr
ospect
ing.Thi
swi
l
lal
l
owf
orst
eadygr
owt
hinr
evenueswhi
l
ethebr
andof
Fl
akesCommer
cial
Phot
ogr
aphybecomesest
abl
i
shedi
nthemar
ket
.Al
argerst
udi
o
spacewi
thmul
ti
pler
oomscanbel
easedaf
teracr
it
ical
massofut
il
izat
ionhasbeen
achi
evedwi
tht
hecur
rentspace.Thi
swi
l
lal
l
owf
orcont
inuedgr
owt
h.Looki
ngatt
he
abov
eanal
ysi
s,t
hel
ongt
erm sol
vency
,ef
fi
ciencyandst
abi
l
ityoft
hef
ir
m seems
exceedi
ngl
ypr
omi
si
ng.Thev
iabi
l
ityandf
easi
bil
i
tyoft
hepr
ojecthasbeent
est
ed
f
rom t
heabov
eev
aluat
ion.Thi
spr
ojectl
ooksv
eryv
iabl
eandi
swor
thwhi
l
eto
commi
tresour
cest
oit
.