business plan so far

1.The nature of your business

1. Business name

Fourth wall

2. Business activity

We are a branding and identity company for events within the culture sector, located in the North of England.

3. Mission statement

We are a design agency that focuses on branding and identity for the culture sector, of the North. We offer efficient yet considered designs that will shape and transform or enhance your company / create buzz.

4. Business objectives


Our business objectives within the first 12 months are to focus primarily on promoting ourselves, getting known within the industry increasing our presence. To do so we expect 10% of our estimated income to be used to advertise. Resulting this, we intend on gradually increasing our profit.


Over the next two years we intend to expand outside of theatre to other sectors within the culture sector. Also, the option to collaborate is certainly something to consider in order to grow our business.


Long term goals consist of building reputable relationships with clients, In order to gain returning clients. We intend on making a bigger profit over time, and with this to expand nationally resulting in a bigger client list and reputation within the industry.

5. The people in the business
· Total of 4 people
· Simon Cherry Design work, Tea Maker, Branding
· Chris Lawson Design work, PR & Networking, Designer
· Stephanie Lawson Management, Promotion, Head Designer
· Liam Rushfirth Financing, Book-keeping, Design work, Creative Director

6. What is the structure of your business?


7. What is the legal status of your business?
· Partnership
· Share the profits equally
· Having four people in our business, there will be more money to be put into finances, allowing more potential for growth, thus resulting in higher profits.
· Being in a partnership, it will be less strict in management and the way it is run in regard to laws, as those in the business are the only ones who have say in the way the business is run as long as we can all agree.
· Shared responsibility allowing us to demonstrate the best of our abilities. We can split the management and running of the business in regard to our skills. For instance, some will be good with finances, some with design, and others with sales.
· When it comes to making decisions, we can help each other out in ways needed. Working in a partnership means we each have our own business ideas, which can be shared in regard to solving problems, that the business may encounter.


________________________________________________________________________________
2. Resources

1. Products or services


Our services as a branding and identity company;


90% Event Promotion
10% Branding for new and existing groups / organizations


The majority of our time would be taking jobs from existing clients and designing promotions for their next event, if they feel our work for them previously was to their taste.


The rest of our time would be to rebrand an existing company or to target new organisations that do not yet have a selected identity.

2. What resources do you require?
· Apple imac x2
· Apple mac book x1
· Adobe software x3 licences
· Printer / Ink
· Scanner
· Headphones x 2
· Desks x 4
· Computer chairs x 4
· Filing cabinets x 2
· Company car x 1
· Cutting mats x 2
· Craft knives x 2
· Paper
· Card
· Stationary
· Guillotine
· Kettle
· Toaster
· Culinary equipment
· Mice
· Internet (depending on location) – Router, Modem, Wireless support etc
· Telephone (depending on whether we are having landline)
· Waste bin
· Pin Board
· White board
· Microsoft software package
· Ipad x 1 (for presentations)
· Subscriptions to design magazines
· Light box
· Microphones
· Spray mount booth
· Metre rulers
· Shelving
· Pantone Books
· Graphics Tablets x 1
· Drawing Board x1
· Projector
· Fonts
· External Storage Devices
· Anti-virus, firewalls

Total = £15,000


3. How much stock do you need any stock to start your business?

£0 – Stock (paper, ink) is included in equipment costs

_____________________________________________________________________________
3. Prices

1. How have you worked out your prices?

Starting with individual spreadsheets to work out the cost of living, added to the price of running the business including equipment and premises. The result shows how much we would need to charge per day/hour.

2. How do your prices compare with your competitors?
· Name 3 competitors and give evidence of their prices

4. Customers

1. What evidence do you have that anyone will buy your product / service?


The service we provide already exists to an extent, which in itself proves its popularity and need. There are many Graphic Design related businesses, which design and cater for the culture sector, but not primarily.


Our idea is new in the sense no other company out there is solely directed at and focused on just the culture sector, we can put all our time and effort into simple this factor; other companies possibly wouldn’t do the same. New and upcoming businesses within the culture sector are more likely to want work produced by a solely based design business within the sector due to more experience and knowledge about the subject at hand.


Our target audience is based within Yorkshire and the surrounding areas, there are several new and upcoming developments currently in play, just one being the Leeds arena; the demand for branding and identity will be huge. Every year more places like this come about and design proposals are made, there is a continuous stream of work available for the culture sector.

2. Who are these people?
Our target audience is the culture sector, primarily theatre establishments. These are located throughout the country, with several throughout each city. Our target audience is vast, the establishments we can aim at can be anything from tiny, to huge, have very few visitors or thousands can be of popular culture or high culture.

3. Where are they?
· It may help to include diagrams or maps

4. How many are there of them?
· This must be described in numbers form. (e.g. population, tourist visitor numbers, number of local bands, number of retail outlets)

5. Why would they buy from you rather than anyone else?

Strengths:
New Graduated - Fresh and Modern approach to design
USP
Outside the box
Independent
Range of skills
Local
Personal and intimate services

Weakness:
No reputation
New company
Won't be trusted - yet
Small company - Unable to deal with large jobs due to short amount of creatives
Lack of capital - no money in bank etc

Opportunities:
Get into market
Increase market share
Expansion
Collaborating
Funding from government

Threat:
Competition
Economic climate
Demands not as high as we couldn't be
Recession - People not having money


6. How much will the average customer spend with you?
How often will they spend that amount with you?
Will your sales fluctuate due to external forces ( e.g. seasons or cultural / sporting events)
_________________________________________________________________________
5. How will you promote your business?

1. How will you advertise your products / services?
Contextual Advertising, social networking, social media websites, events, leaflets, business cards, website, vehicle graphics, posters and a mail shot are, on a whole, the way we intend to promote and advertise out services. Word of the mouth, from promoting events and holding our own will be a primary way of advertising ourselves, we intend to create a ‘buzz’.

2. What other marketing methods would be effective for you?
Personal Selling
Promotions
Public relations
Direct Marketing (Targeted marketing)
Internet

__________________________________________________________________________
6. Total set up costs

1. Legal costs
SUMMARISE FINDINGS ABOUT INSURANCE AND LEGAL COSTS IN GENERAL – PROVIDE SPREADSHEETS
What legal costs might you incur in setting up your business, on protecting your intellectual property, registering with Companies House ( if appropriate) or using a solicitor to look at your contracts?
2. Resources
SPREADSHEET SHOWING CAPITAL EXPENDITURE, BILLS AND OVERHEADS SHEETS
How much Capital expenditure in the first year?
How much will you spend on materials and goods for sale for the first 6 months ( Direct Costs)
How much will be spent on bills and overheads for the first 6 months (Indirect costs)

3. Marketing
SPREADSHEET OF COSTING / PROMOTING CUSTOMER
Cost of promoting your business for the first year

3. How will you finance the business start up?
GOVERNMENT FUNDING
Name a suitable source for the kind of funding you need.
If it’s a grant – give evidence that your are eligible. You are NOT eligible for Prince’s Trust


7. How will you monitor your progress>

1. Financial control
· What systems will you use to monitor finances?
· What methods will you use to monitor your position in the market?